VILNIUS, Lithuania, Jan. 13, 2025 /CNW/ — The ARMswap team is thrilled to announce the launch of its 1^st version of its DeFi protocol. The web3 world is booming with numerous layer-1 and layer-2 blockchains, each having their unique algorithms and capabilities. However, their closed architecture hinders seamless interaction and information flow between networks, creating inefficiencies. ARMswap’s launch addresses this fundamental inefficiency in the current blockchain architecture and introduces a more optimized version of the multi-directional cross-chain swaps and bridges.

Simplifying Cross-Chain Transactions

“The fragmentation of blockchain networks has been a critical issue, and users were compelled to navigate through various DEXs and third-party bridges to perform a single cross-chain transaction,” notes the CTO of ARMswap. “ARMswap’s launch represents a watershed moment in addressing this fragmentation that has constrained Defi’s evolution.”

ARMswap’s architecture, validated through rigorous security audits by the leading Blockchain security firm Hashlock, combines advanced cryptographic protection for user funds. ARMswap’s protocol delivers secure and rapid swap/bridge operations, setting new industry benchmarks for transaction processing efficiency.

The platform supports 31 blockchains and their native coins in its V1 launch in Jan 2025, with plans for expansion to include more blockchains every quarter. 

In V2, ARMswap will integrate with protocols like Chainlink, Axelar network, Layer zero, Wormhole, etc., to provide extensive coverage of EVM & non-EVM chains. In V3, Armswap will introduce its own framework for relayers and oracles for seamless interoperability across Web3.

ARMSP Fair Launch

ARMswap is launching its utility token, ARMSP, in Jan 2025, incentivizing liquidity providers to actively participate in the ecosystem and to share platform and pool returns with the platform participants.

ARMswap is also releasing its DeFi Mobile App (IOS & Android) in March 2025, enabling users to connect their existing wallets and perform swap transactions and participate in liquidity pools and rewards.

Limited Supply

Join the ARMswap V1 platform and participate in the ARMSP token Fair Launch on 13^th Jan 2025, with a limited supply of 400 million tokens out of 1.25 billion max supplies. Early participants can enjoy bonuses and earn rewards through the ARMswap MVP program. After a 12-month vesting period, ARMSP will be listed on all major exchanges globally.

About ARMswap:

ARMswap UAB simplifies cross-chain asset transfers and brings the power of Web3 and the de-centralization of blockchains into our daily lives and businesses. 

Website: www.armswap.com 

For Media Inquiries:
Contact Name: Husnain Aslam
Title: Chief Technology Officer
Email: media@armswap.com

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SOURCE Armswap UAB

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TORONTO, Jan. 10, 2025 /PRNewswire/ — The VerifiedX (VFX) Network, VerifiedX.io, has launched its mainnet non-custodial wallet VFX SwitchBlade, which enables full native Bitcoin functionality. The VFX SwitchBlade also supports a ‘first-mover’ fully decentralized and self custodial Bitcoin Tokenization (Verified Bitcoin) with on-chain native features, enabling real day-to-day utility, while solving current frictions for all Bitcoiners globally today. 

Verified Bitcoin (vBTC) enables anyone the ability to save, spend, withdraw, borrow, lend, mint & transfer media / documents, and vault actual Bitcoin with on-chain recovery features eliminating the need for third-parties or hardware wallets, through a feature rich simple text smart contract. This incredibly unique Bitcoin token provides for enhanced privacy with near-instant transaction finality, all with near-zero fees. Verified Bitcoin tokens are transferable in any denomination completely peer-to-peer, so long as they have a native Bitcoin balance and always maintain a fully decentralized and non-custodial evergreen 1:1 peg. This means that 1 vBTC will always equal 1 BTC and token owners may withdraw their underlying Bitcoin anytime with a ‘one-click’ multisig action or off-ramp the token itself, in whole or in part, at any participatory liquidity provider.

This empowering development will inevitably help provide congestion relief for the Bitcoin network, dramatically reduce Bitcoin holders cost of ownership and transfers, enable media embedding, and increase self-custodial security exponentially, adding immediate utility to holders of the largest digital asset class. It is anticipated that Verified Bitcoin may also help facilitate additional native scarcity with Total Value Vaulted (TVV) over time on VerifiedX Vaults.

VerifiedX – VFX (VerifiedX.IO) is the first open-source decentralized network that is both a universal layer 1 and a Bitcoin specific sidechain for the purpose of tokenized self-custody, on-chain storage, and peer-to-peer commerce of both digital & physical assets.

For Further Inquiries:
Website: https://verifiedx.io/
Discord: https://discord.gg/7cd5ebDQCj
Twitter (X)): https://twitter.com/vfxblockchain
Github: https://github.com/verifiedxblockchain

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SOURCE VerifiedX.io

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HONG KONG, Jan. 10, 2025 /PRNewswire/ — Nano Labs Ltd (Nasdaq: NA) (“we,” the “Company,” or “Nano Labs“), a leading fabless integrated circuit design company and product solution provider in China, today announced that the Company through Nano bit HK Limited (“Nano bit”), its wholly-owned subsidiary, entered into a partnership (the “Partnership”) with BitFi, a leading cryptocurrency asset management platform, jointly developing innovative Bitcoin asset management solutions. The Partnership marks a new chapter in Nano Labs’ global technological innovation and strategic ecosystem development.

As part of this strategic initiative, Nano Labs agrees to adopt Bitcoin as a long-term strategic reserve asset, with Nano bit responsible for the management and operation of these assets. BitFi, serving as the Company’s professional partner, agrees to provide comprehensive solutions, including asset custody, quantitative management, and value-enhancing strategies, to ensure the security and profitability of such reserve assets.

The Partnership not only signifies a new phase in Nano Labs’ strategic engagement with the Bitcoin ecosystem but also underscores BitFi’s technical expertise and leadership in cryptocurrency asset management. By leveraging their complementary strengths, the two companies aim to advance the development of the Bitcoin ecosystem and drive sustainable growth across the industry.

About Nano Labs Ltd

Nano Labs Ltd is a leading fabless integrated circuit (“IC”) design company and product solution provider in China. Nano Labs is committed to the development of high throughput computing (“HTC”) chips, high performance computing (“HPC”) chips, distributed computing and storage solutions, smart network interface cards (“NICs”) vision computing chips and distributed rendering. Nano Labs has built a comprehensive flow processing unit (“FPU”) architecture which offers solution that integrates the features of both HTC and HPC. Nano Lab’s Cuckoo series are one of the first near-memory HTC chips available in the market*. For more information, please visit the Company’s website at: ir.nano.cn.

* According to an industry report prepared by Frost & Sullivan.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements include, without limitation, the Company’s plan to appeal the Staff’s determination, which can be identified by terminology such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Such statements are based upon management’s current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control, which may cause the Company’s actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

For investor inquiries, please contact:

Nano Labs Ltd
ir@nano.cn

Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com

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SOURCE Nano Labs Ltd

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Disclaimer

DUBAI, UAE, Jan. 10, 2025 /PRNewswire/ —  Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has released the latest crypto derivatives report, published weekly with Blocks Scholes. Noting BTC’s retreat from the $100k mark a week into the new year, the analysis showed on-risk assets including crypto bore the brunt of broader macro factors. Past week’s data indicates heightened uncertainty in market dynamics ahead of Trump’s anticipated Jan. 21 inauguration, highlighting shifting investor sentiment during this significant political transition.

Key Insights:

Perpetuals Took a Winter Break: The perpetual swap market experienced a notable decline in liquidity over the holidays, with trading volumes winding down throughout Dec. 2024, leading to decreased realized volatility across the market. Notably, open interest maintained stability compared to levels preceding the great expiration of options contracts in Dec. 2024, indicating conservative positioning and limited hedging activity in perpetual swap markets.

Wide Disparity Between 30-Day Implied Volatility and 7-Day Realized Volatility: ETH’s options markets signalled an unmistakable preference for call options. In contrast,  BTC’s open interest is rebalancing after the expiration in Dec. 2024. Both ETH and BTC have experienced notable changes in their term structures heading into the new year. The sharp divergence between implied and realized volatility is at its largest since the U.S. elections, suggesting that options traders are paying a premium to price in a higher level of risk or volatility despite the calm at the surface.

ETH Calls Gaining Traction 

There has been a reshuffling in ETH open interest. While put options still hold sway in terms of total volume, call contracts have seen an uptick after Dec. However, the optimism comes with a caveat—the decline in realized volatility in the year so far has given options traders pause. The volatility term structure has steepened further, with short-term volatility (measured at a 30-day tenor) still sitting more than 15 points above its realized counterpart. This gap is the widest since the pre-election period of 2024, when geopolitical uncertainty fueled volatility premiums. Today, however, the premium seems driven more by general speculation than by any specific event. Even as the market settles, investors remain cautious, signaling looming uncertainty.

Access the Full Report here.

#Bybit / #TheCryptoArk /#BybitResearch

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: media@bybit.com

For updates, please follow: Bybit’s Communities and Social Media

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

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Disclaimer

Recent data reveals a significant exodus from cryptocurrency exchange-traded funds (ETFs), with $742 million in collective outflows from Bitcoin (BTC) and Ether (ETH) ETFs. This sudden shift highlights investor uncertainty in the volatile crypto market, raising concerns about the stability of these investment vehicles.

BlackRock, Valkyrie, and Grayscale Among Crypto ETFs Hit by $742M Reduction

On Wednesday, prominent U.S.-based crypto ETFs experienced massive outflows. Bitcoin ETFs saw a whopping $582.90 million withdrawn, while Ether ETFs faced $159.34 million in outflows. These figures represent one of the largest single-day reductions in recent history.

Fidelity’s Bitcoin ETF (NASDAQ:FBTC) led the decline, losing $258.69 million in a single day. Ark Invest’s Bitcoin ETF (NASDAQ:ARKB) followed closely with a $148.30 million reduction. BlackRock’s iShares Bitcoin Trust (NYSEARCA:IBIT) recorded $124.05 million in outflows, further contributing to the overall slump in crypto ETF holdings.

Other funds, including Valkyrie’s Bitcoin ETF (NASDAQ:BRRR) and Bitwise’s Bitcoin Strategy ETF (NYSEARCA:BITB), also saw notable outflows of $14.10 million and $11.26 million, respectively. Even Grayscale’s popular Bitcoin Trust (OTCMKTS:GBTC) wasn’t spared, losing $8.94 million in assets under management.

Ether ETFs Not Immune to Outflows

Ether ETFs weren’t exempt from the downturn. Fidelity’s Ether ETF (NASDAQ:FETH) accounted for the majority of the $159.34 million outflow, shedding $147.68 million. Grayscale’s Ether Trust (OTCMKTS:ETHE) followed with an $8.26 million reduction, while its ETH Mini Trust saw a $3.4 million decline.

Despite these outflows, Ether ETFs still collectively manage $11.74 billion in reserves, representing nearly 3% of Ether’s total market capitalization. However, the sharp reduction underscores growing apprehension among investors about the future performance of Ether in a challenging macroeconomic environment.

What Is Causing the Crypto ETF Outflows?

Several factors may have contributed to the massive crypto ETF outflows. First, regulatory uncertainty continues to cast a shadow over the crypto industry. Recent comments from the U.S. Securities and Exchange Commission (SEC) regarding the approval of spot Bitcoin ETFs have caused hesitation among institutional investors.

Second, macroeconomic pressures, including rising interest rates and geopolitical tensions, have dampened investor sentiment. As traditional asset classes like bonds and equities become more attractive, investors may be reallocating their portfolios away from riskier crypto assets.

Lastly, the overall performance of Bitcoin and Ether has been lackluster in recent months. Bitcoin’s price has struggled to maintain momentum above $35,000, while Ether has faced resistance at the $2,000 level. These price fluctuations may be prompting investors to take profits or cut losses by exiting their ETF positions.

Implications for the Crypto Market

The recent exodus from crypto ETFs raises questions about the future of digital assets as mainstream investment options. While ETFs provide a convenient way for investors to gain exposure to cryptocurrencies without directly owning the assets, their success hinges on market confidence.

The outflows from major funds like those managed by Fidelity, Ark Invest, and BlackRock indicate that institutional investors are becoming more cautious. This could impact the broader crypto market, potentially leading to further price declines if outflows continue.

However, some analysts believe that this pullback is temporary. They argue that the long-term growth prospects for Bitcoin and Ether remain intact, especially as more regulatory clarity emerges and blockchain adoption continues to rise.

The Road Ahead for Crypto ETFs

Despite the recent setback, the outlook for crypto ETFs isn’t entirely bleak. Many industry experts expect that regulatory approvals for spot Bitcoin ETFs could reignite investor interest. Additionally, advancements in blockchain technology and increasing use cases for cryptocurrencies may help stabilize the market.

In the short term, investors should brace for continued volatility in crypto ETFs. Monitoring key regulatory developments and macroeconomic trends will be crucial for understanding the future trajectory of these funds.

Conclusion: Crypto ETF Outflows Reflect Market Uncertainty

The $742 million outflow from crypto ETFs underscores the current uncertainty in the digital asset space. Major funds, including those from Fidelity, BlackRock, and Valkyrie, have seen significant reductions, raising concerns about investor confidence.

While this exodus highlights short-term risks, the long-term potential of crypto ETFs remains promising. As regulatory clarity improves and adoption grows, these funds could once again become attractive investment options for both retail and institutional investors.

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