HONG KONG, Feb. 13, 2025 /PRNewswire/ — Metalpha Technology Holding Limited (Nasdaq: MATH) (the “Company” or “Metalpha”), a global leader in digital asset wealth management, is pleased to announce its unaudited financial results for the six months ended September 30, 2024, with revenue up by an impressive 388% compared to the same period in FY2024. The Company also announced today that its Board of Directors has approved a share repurchase program of up to $5 million, reflecting confidence in the Company’s future growth. Since the announcement of the Company’s joint venture with Antalpha Technologies Limited on November 8th, 2021, Metalpha has grown to become a leader in digital asset wealth management, with its robust financial performance demonstrating substantial growth amid increasing adoption of cryptocurrency.

FY2025 Interim Results Highlights

For the six months ended September 30, 2024, Metalpha achieved total revenue of $19,720,654, nearly fourfold compared to $5,085,150 for the same period in FY2024. Net income reached $6,044,921, a remarkable turnaround from a net loss of $3,856,955 in the prior-year period. The growth was driven by the pursuit of delivering high-quality products and services to clients. The following table presents the Company’s total revenue and net income (loss) for each of the six-month period ended September 30, 2024, March 31, 2024, September 30, 2023 and March 31, 2023:

For further information regarding the Company’s unaudited financial results for the first six months of fiscal year 2025, please refer to the unaudited consolidated financial statements of the Company as of September 30, 2024 and for the six months ended September 30, 2024, furnished to the U.S. Securities and Exchange Commission on Form 6-K and available at www.sec.gov.

$5 Million Share Repurchase Program

Metalpha’s Board of Directors has approved a share repurchase program of up to $5 million over the next 36 months. The Company’s repurchases may be made from time to time through open market purchases, privately negotiated transactions, or other legally permissible methods, depending on market conditions and the Company’s capital requirements.

This share repurchase program reflects Metalpha’s confidence in its long-term strategic direction and commitment to deliver value to its shareholders. Through disciplined capital allocation, Metalpha aims to enhance per-share value and provide long-term returns for its investors.

Adrian Wang, chairman and CEO of Metalpha, expressed optimism about the Company’s future:

“The robust interim results, coupled with our growing partnerships and expanded financial offerings, showcase our commitment to meet the customer demand. Behind the attractive financial numbers, we made significant investments in areas that are less apparent but even more critical to our success. Best talents, state-of-the-art technology infrastructure, and extremely comprehensive internal control systems are all essential for long-term scalability and sustainability. These efforts demonstrate our dedication to excellence. Looking ahead, we remain focused on advancing technology, enhancing customer experiences, and innovating best digital asset derivative products.”

About Metalpha Technology Holding Limited

Founded in 2015, Metalpha Technology Holding Limited (Nasdaq: MATH) went public on October 20, 2017. The listed Company, through its subsidiaries, is dedicated to providing investing and wealth management services with a full-service, institutional-grade platform. With dedicated blockchain expertise, the Company aims to become a leader in the field of crypto wealth management services, bringing robust innovation and transparency to the customers and businesses it serves.

Forward-Looking Statements

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause Metalpha’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements.

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SOURCE Metalpha Technology Holding Limited

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The rapid advancement of artificial intelligence (AI) is reshaping the world of cryptocurrency, but not always for the better. As AI-powered technologies gain traction, cybercriminals are leveraging them to commit sophisticated AI crypto scams, making it increasingly difficult for victims to distinguish between real and fraudulent transactions. A new report from blockchain analytics firm Chainalysis warns that the use of AI in crypto scams has surged by 1,900% since 2021, posing a growing threat to investors worldwide.

AI Crypto Scams Fuel Massive Financial Losses

According to Chainalysis, scammers have made an estimated $18 million selling AI-driven fraud tools, which help criminals impersonate others, forge fake investment opportunities, and trick victims into sending cryptocurrency to fraudulent addresses. The use of AI allows scams to scale rapidly, automating phishing attacks, deepfake video calls, and even AI-generated text conversations designed to gain victims’ trust.

The rise in AI crypto scams comes at a time when excitement around AI-powered blockchain projects is also skyrocketing. AI-related cryptocurrencies have reached a combined market capitalization of over $28 billion, attracting significant investment from both institutional and retail traders. However, as legitimate AI-driven crypto projects grow, so does the dark side of AI’s influence in the industry.

AI Marketplaces Enable Crypto Fraud

One of the key enablers of AI crypto scams is illicit online marketplaces selling AI-powered fraud software. Chainalysis has identified platforms like Huione Guarantee, where cybercriminals can purchase deepfake voice and video generators, identity-masking tools, and AI chatbots specifically designed for financial fraud.

For example, some vendors on these platforms offer AI “face-changing services” for as little as $200 in cryptocurrency. This technology allows scammers to bypass identity verification processes on crypto exchanges and fintech platforms, making it nearly impossible for law enforcement to track them.

These AI tools are particularly useful for groups such as North Korean cyber operatives, who have been known to infiltrate Western tech companies by posing as legitimate employees. According to a United Nations Security Council report, over 4,000 North Korean IT workers are engaged in these operations, not only earning fraudulent wages but also planting malware and stealing funds from internal systems.

Pig Butchering Scams Get an AI Upgrade

One of the most devastating AI crypto scams is known as “pig butchering,” a type of fraud where scammers build a relationship with their victims over time, convincing them to invest in fake crypto schemes before ultimately stealing their funds. AI has made these scams even more convincing by automating responses, using deepfake technology, and creating hyper-realistic investment dashboards.

Chainalysis recently tracked a case where a wallet linked to a pig butchering scam received funds just three days after purchasing AI scamming software. This tight timeline underscores how quickly and efficiently AI can be weaponized against unsuspecting victims.

In one shocking example, a French woman was scammed out of $850,000 by criminals using AI to impersonate Hollywood actor Brad Pitt. By leveraging AI-generated voice and video calls, the scammers convinced her that she was in a relationship with the actor and persuaded her to send large sums of money over several months.

The Future of AI Crypto Scams and Regulation

As AI crypto scams become more advanced, regulators and blockchain security firms are scrambling to keep up. Blockchain intelligence companies like TRM Labs predict that financial fraud involving AI will expand significantly in 2025, making it essential for exchanges and financial institutions to implement stronger security measures.

One potential solution is the integration of AI-driven fraud detection systems that can identify deepfake videos, detect unusual trading patterns, and flag transactions linked to known scam networks. Some blockchain firms are also working on decentralized identity solutions that use biometric verification to prevent fraudsters from impersonating others.

Protecting Yourself from AI Crypto Scams

With AI-driven fraud on the rise, investors and traders must remain vigilant. Here are some steps to protect yourself from AI crypto scams:

Verify Identities Carefully: If someone claims to be a well-known figure or an investment expert, conduct independent research before sending any funds. AI-generated impersonations can be highly convincing.

Beware of Unrealistic Promises: If an investment opportunity seems too good to be true, it probably is. Be cautious of anyone promising guaranteed returns or low-risk profits.

Enable Two-Factor Authentication (2FA): Strengthening security on your crypto accounts can prevent unauthorized access.

Use Reputable Crypto Platforms: Stick to well-established exchanges that have strong security protocols and fraud detection measures.

Report Suspicious Activity: If you encounter a scam, report it to blockchain analytics firms, law enforcement, or crypto security companies to help prevent others from falling victim.

Conclusion: The AI Arms Race in Crypto Fraud

The rise of AI crypto scams marks a new frontier in cybercrime, with fraudsters using advanced technology to deceive and manipulate victims on an unprecedented scale. As scammers refine their techniques, it’s crucial for both investors and security professionals to stay ahead of the curve.

While AI holds immense promise for improving blockchain technology, it also presents new challenges that regulators and cybersecurity experts must address. As the battle between AI-powered fraudsters and security firms intensifies, the crypto industry must adopt proactive measures to mitigate risks and protect investors from financial losses.

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Robinhood (NASDAQ:HOOD) has made significant strides in the cryptocurrency trading market, capitalizing on its commission-free model to attract price-conscious traders. This strategic expansion is putting pressure on major digital asset exchanges like Coinbase (NASDAQ:COIN) and Binance, marking a shift in the competitive landscape of crypto investing.

Record Crypto Revenue Boosts Robinhood Stock

Robinhood’s latest earnings report showcased an astounding eight-fold increase in transaction-based revenue from crypto trading for the fourth quarter of 2024. As a result, its stock surged nearly 14% in early trading, adding approximately $6 billion to its market capitalization. Analysts attribute this growth to increasing retail investor interest and a favorable regulatory outlook.

President Donald Trump’s pro-crypto stance has also played a role in fueling market enthusiasm. His pledge to position the U.S. as the “crypto capital of the planet” sent Bitcoin (BTC) soaring past $100,000 in Q4 2024, reinforcing bullish sentiment across digital asset markets.

Robinhood Challenges Coinbase and Binance

While Robinhood crypto trading has gained traction, analysts believe competing with established crypto exchanges will not be easy. Platforms like Coinbase and Binance cater to more crypto-savvy users, offering a broader selection of tokens and advanced trading tools. Currently, Robinhood lists only about 22 cryptocurrencies, whereas Coinbase supports over 200.

Despite these challenges, Robinhood’s influence in the trading industry cannot be ignored. The platform disrupted traditional brokerage firms like Charles Schwab (NYSE:SCHW) and Fidelity by introducing commission-free stock trading in 2013. Now, it is leveraging that same disruptive approach to expand its foothold in crypto.

Analysts Remain Bullish on Robinhood Stock

Industry experts foresee continued momentum for Robinhood crypto trading. Analysts at Bernstein recently named Robinhood their “best idea for 2025,” citing expectations of sustained growth in crypto trading volumes.

Paul Marino, Chief Revenue Officer at Themes ETFs, highlighted that rising equity, options, and crypto trading volumes signal renewed confidence among retail traders. He also noted that younger investors are embracing Robinhood’s platform, further driving its growth.

Future Outlook: Can Robinhood Sustain Its Crypto Momentum?

Although Robinhood has experienced significant success, maintaining its competitive edge in the crypto market requires further innovation. The company may need to expand its cryptocurrency offerings, introduce staking and lending services, and enhance security measures to attract more advanced traders.

Meanwhile, Coinbase is set to release its earnings report, which will provide further insight into how the competition between these two trading giants unfolds. As Robinhood continues to grow its crypto segment, its impact on the broader digital asset industry remains a focal point for investors.

With Robinhood crypto trading becoming an increasingly vital component of the company’s business model, the race for dominance in the retail trading space is far from over.

Robinhood’s ability to attract new users and retain existing ones will be crucial to sustaining its crypto market momentum. Expanding educational resources on digital assets and offering lower spreads on transactions could further enhance its competitive position. Additionally, forming strategic partnerships with blockchain projects or integrating decentralized finance (DeFi) features may help Robinhood differentiate itself from traditional exchanges.

Regulatory clarity will also play a pivotal role in determining Robinhood’s future in crypto. If the U.S. Securities and Exchange Commission (SEC) adopts a more favorable stance toward crypto trading platforms, Robinhood could benefit significantly. However, increased scrutiny and potential restrictions on certain digital assets could pose challenges.

As retail and institutional interest in cryptocurrencies continues to grow, Robinhood’s commitment to innovation and user experience will dictate its success. Investors will be watching closely to see if Robinhood can maintain its growth trajectory and solidify its presence in the rapidly evolving digital asset market.

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As Japan’s top crypto tax service, trusted by more than 150,000 users since 2017, cryptact is now available in Canada – offering reliable tax reports at a campaign price of US$22.50. Founded by former Goldman Sachs executives, cryptact brings institutional-grade expertise to simplify cryptocurrency tax filing with accuracy and efficiency.

TORONTO, Feb. 12, 2025 /PRNewswire/ — pafin Inc. (Co-CEOs Amin Azmoudeh and Gaku Saito), the provider of cryptact, a leading cryptocurrency calculation service for tax filing, today announced its official launch in Canada. Founded by former Goldman Sachs executives with extensive experience in finance and investment, cryptact leverages institutional-level expertise to deliver accurate and efficient crypto tax solutions.

To mark this milestone, cryptact is offering a 50% discount on paid plans until April 30, 2025.

Key Features of cryptact

• Japan’s leading crypto tax service: since 2017, cryptact has been the most trusted crypto tax service in Japan, serving more than 150,000 users. Developed by a multicultural startup based in Tokyo, it is built by a team of experts in finance, technology, and blockchain.
• Wide support for exchanges and coins: cryptact supports 24,000+ cryptocurrencies across 137 exchanges and blockchains, offering one of the broadest coverages among crypto tax service providers.
• Comprehensive free access: users can start calculating capital gains, losses and income for exchanges, DeFi, and NFTs, and import up to 100,000 transactions per year – all for free.
• The most affordable tax reports: with a 50% discount, “Basic” plan, normally priced at US$45, is now available for just US$22.50 – offering one of the best values among crypto tax service providers.
• All past tax years covered: by purchasing an annual subscription, users can calculate profit and loss for any year, making it an accessible option for those filing a tax return for the first time.
• Accurate and reliable calculations: developed in collaboration with MetaCounts, a Canadian crypto tax expert, cryptact provides precise calculations for a wide range of transaction types.
• Automatic identification of DeFi and NFT transaction types: users can simply input a wallet address, and cryptact will automatically import all transaction history and identify transaction types, significantly reducing manual work.
• Seamless transition from other services: no past transaction history is required. Users can get started by entering only the cryptocurrencies held as of January 1st of the tax year and their cost basis.

Service page: start using our services for free with just your email address.

https://www.cryptact.com/en

About the Canada Launch Campaign

• Eligible Users: Residents of Canada
• Offer? 50% off on new purchases or plan upgrades for all plans (excluding the Data Retention Plan)
• How to Apply the Discount? No coupon code required – simply sign up via the service page above, and the discount will be automatically applied at checkout.
• Offer Period? February 12, 2025 – April 30, 2025, 23:59 EDT

Future Outlook

“We are committed to continuously improving our services to meet the evolving needs of our users. As a trusted partner for cryptocurrency users in Canada, we will expand support for additional cryptocurrencies, exchanges, and blockchains while introducing new features to further enhance our user experience.” said Amin Azmoudeh, Co-CEO, pafin Inc.

Leadership Profiles

Amin Azmoudeh, Co-CEO

After graduating with a BS in Computer Science and a BA in Japanese from the University of Maryland in 2003, Amin joined Goldman Sachs Tokyo as the sole technologist of Tokyo’s GSPS team, a principal strategies unit managing the firm’s capital. In 2005, he changed careers to become a financial analyst with GSPS, and in 2007, he transferred to GSIP (Goldman Sachs Investment Partners) as part of the spin-out of the team into GSAM. As a financial/analyst and portfolio manager, Amin managed listed/unlisted equities, bonds, swaps, interest rate products, foreign exchange, derivatives as well as overall risk management. He was promoted to Managing Director in 2013 and retired from Goldman Sachs on December 31, 2017, to found cryptact.

Gaku Saito, Co-CEO

Having completed a Bachelor’s degree in System Innovation Engineering in 2005 and a Master’s degree in Environmental & Ocean Engineering in 2007 from The University of Tokyo, Gaku joined Goldman Sachs – Asia Special Situations Group, where he executed investments exceeding US$500 million in non-performing and sub-performing loan portfolios, private equity, real estate portfolios, and vessel portfolios. Also, he participated in a number of sponsorship auctions on bankrupt real estate developers. From May 2010 to January 2019, he worked at Goldman Sachs Investment Partners Worked as a portfolio manager at a multi-asset hedge fund, managing an US$800 million portfolio. His main investment strategy was equity long/short in listed companies based on a fundamental approach to building financial models. He also invested in equity derivatives, bond/CDS, FX, and mezzanine loan products. Since February 2019, he has been serving as Co-CEO of cryptact, and in 2021, he was appointed as Chairman of the JCBA Tax Review Department.

About the Team

Cryptact is developed and operated by a diverse, multinational team. With expertise in finance, technology and blockchain, the team brings a global perspective to deliver a trusted and efficient crypto tax service.

https://www.pafin.com/en#team

About pafin Inc.

Services

Cryptact – Crypto tax calculations: Simplified –

Automatically calculate capital gains, access all the information you need for tax filing, and efficiently manage your portfolio — all in one place. Trusted by over 150,000 active users.

https://www.cryptact.com/en

X account: https://x.com/CryptactGlobal

defitact – Your Web3 Sidekick –

defitact allows you visualize, analyze and manage your DeFi assets, NFTs and transactions through a highly intuitive and interactive interface. All features are for free.

https://www.defitact.com/

Company Name: pafin Inc.
Date Founded: January 2018
Rep. Directors: Amin Azmoudeh, Co-CEO / Gaku Saito, Co-CEO
Equity: 1,364M JPY (Including reserve)
Location: Kojimachi HF Building 5F, Kojimachi 3-2-4, Chiyoda City, Tokyo, Japan 102-0083

Contact for public relations and media/press coverage-related inquiries 
pr@pafin.com 

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Disclaimer

Institutional crypto investments are reaching new heights, even as retail investors remain skeptical. According to Bitwise CIO Matt Hougan, the disconnect between retail pessimism and institutional confidence presents a major opportunity in the digital asset market.

With Bitcoin (BTC) exchange-traded funds (ETFs) drawing massive inflows and regulatory sentiment shifting, institutional crypto investments could drive the next bull run.

Institutional Investors Are Betting Big on Crypto

In his latest letter to investors, Hougan highlighted how institutional crypto investments are growing at an unprecedented pace. The launch of Bitcoin ETFs has provided institutional investors with a regulated and secure way to gain exposure to the asset class.

Since the beginning of 2024, ETFs and corporations have acquired nearly 104,000 BTC, while only 18,000 BTC has been mined. This imbalance between demand and supply could push Bitcoin’s price to new highs.

Hougan stated:

“From a risk-adjusted perspective, it is arguably the best time in history to invest in crypto.”

Retail Sentiment Remains Low

While institutional crypto investments are rising, retail investors remain hesitant. According to Bitwise’s proprietary crypto sentiment score, retail sentiment is at one of its lowest points ever recorded.

One major reason for this pessimism is the underperformance of altcoins. Over the past year:

Bitcoin (BTC) has surged 95%

Ethereum (ETH) has gained only 2%

Most other altcoins have struggled to gain traction

Retail investors often favor altcoins for speculation, but the lack of an “altcoin season” has dampened enthusiasm.

Hougan noted:

“Retail investors love to speculate on altcoins, and the lack of an ‘altcoin season’ has them depressed.”

Regulatory Sentiment Is Improving

A significant shift in regulatory sentiment is also fueling institutional crypto investments. Previously viewed as an adversary, Washington is now becoming more supportive of the crypto industry.

For example, the U.S. government has prioritized the growth of stablecoins, which benefits blockchain ecosystems like Ethereum (ETH) and Solana (SOL). Additionally, major financial institutions feel more secure building on blockchain technology, setting the stage for broader decentralized finance (DeFi) adoption.

Hougan pointed to the all-time high in stablecoin assets under management and highlighted projects like Ondo Finance (ONDO), which is working to tokenize U.S. stocks and ETFs.

What’s Next for Bitcoin and Altcoins?

While Bitcoin remains the dominant force in institutional crypto investments, the outlook for altcoins is more complex. In previous market cycles, new technologies like DeFi (2020-2021) and ICOs (2017-2018) drove altcoin rallies. However, no major breakout application has emerged in the current cycle.

Despite this, Hougan believes the transformation in altcoins will become “self-evident and overwhelming” in the coming years. He expects:

More institutional adoption of DeFi protocols

Stronger regulatory clarity for blockchain projects

Increasing demand for stablecoin-driven ecosystems

For now, retail pessimism may serve as a contrarian indicator, signaling that institutional crypto investments could lead the market to new highs.

Final Thoughts

The gap between retail and institutional sentiment in crypto has never been wider. While retail investors remain cautious, institutions are increasing their allocations to Bitcoin (BTC) and positioning themselves for long-term gains.

With institutional crypto investments accelerating and regulatory conditions improving, this could be one of the strongest opportunities in crypto history. However, as always, investors should conduct thorough research and assess risks before making any financial decisions.

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