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SydeLabs Raises $2.5m to Solve Security and Risk Management for Generative AI

SydeLabs

Globally, policymakers continue to be concerned about the security and safety risks of Generative AI.1 Today, security & risk management startup SydeLabs announced their seed funding round of $2.5m to build solutions aimed at securing GenAI systems for enterprises. The funding round was led by RTP Global and also saw participation from Picus Capital and marquee angel investors. The adoption of Generative AI has opened a new cybersecurity attack surface for those leveraging the technology. SydeLabs’ comprehensive AI security and Risk Management solutions address this emerging concern. The company offers solutions to identify security and safety vulnerabilities in enterprise AI systems and prevent them in real time, helping mitigate cybersecurity attacks and abuse. Founded by Ruchir Patwa and Ankita Kumari, SydeLabs’ mission is to make AI applications safe, secure and resistant to abuse. Ruchir Patwa is a cybersecurity expert with over 10 years of experience, most recently leading security teams at Google and Mobile Premier League. Ankita Kumari compliments this skillset with her experience as a veteran of product leadership positions, including building fraud and risk management solutions at McKinsey & Company, Mobile Premier League and CRED. Together they have worked extensively on security, risk and fraud management. Ankita Kumari, co-founder at SydeLabs commented: “While we were working on solving security and fraud-led business problems, we saw how business growth and profitability was fuelled by the adoption of risk mitigation measures, despite these measures usually being seen as cost sinks. Since then we knew we wanted to build solutions in the vulnerability and risk management space to address these growing concerns.” Ankita Kumari added “The adoption of Generative AI in enterprise organisations has seen the cybersecurity attack surface increase substantially. From a security point of view, companies are now bringing a human-like element into systems that were previously not susceptible to social engineering and manipulation. From a compliance perspective, we see systems having access to internal and user data with the ability to take action on that data. We also see the reputational risks emerging with adoption of GenAI systems that can generate undesirable content which can cause harm to a brand, loss of goodwill and further legal risk.” In their market research with CISOs globally, SydeLabs are seeing increased acknowledgement of these vulnerabilities as enterprises are rapidly adopting Generative AI for various business use cases. As the company looks to be a holistic AI Security and Risk Management Platform, its solution suite helps detect and prevent vulnerabilities in AI systems thus avoiding attacks, abuse and non-compliance. By focusing on the intent of attackers, rather than using traditional pattern matching approaches that are traditionally used for cybersecurity, the company is going further in its cybersecurity offering. Ruchir Patwa, co-founder at SydeLabs concluded: “We are building a comprehensive platform for risk management of Generative AI systems, across the entire development lifecycle. This can give a huge productivity boost to enterprises and prevent costs associated with inaction around security and compliance threats. We want to give confidence to enterprises to deploy GenAI applications without having to worry about security and safety blindspots”. Galina Chifina, Partner on RTP Global’s Asia Investment team added: “We are super excited about the potential SydeLabs has in setting new standards for AI applications that are as secure as they are ground breaking. We love the vision of Ruchir and Ankita and are happy to back them so early in their journey. SydeLabs' approach to AI security showcases the kind of forward-thinking application of technology we champion at RTP." About SydeLabs SydeLabs is building a holistic AI Security and Risk Management Platform to minimise risks and cybersecurity threats in AI systems. Founded by Ruchir Patwa and Ankita Kumari, in March 2024, SydeLabs raised $2.5m in a round led by RTP Global and Picus Capital. For more information please visit https://www.sydelabs.ai/ Contact Details SydeLabs Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.sydelabs.ai/

March 28, 2024 10:00 AM Eastern Daylight Time

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HTX Rolls Out BTC Futures "Trade to Earn" #2: Experience Enhanced Reward Ratios and Daily Share of 100,000 USDT Prize Pool with Negative Fee Trading

HTX

Since HTX launched the Spot "Trade to Earn" event, it has garnered broad user participation and received positive feedback. Amidst the escalating battle between bulls and bears in the crypto market, HTX has launched another Future "Trade to Earn" event. Similar to the previous "Trade to Earn" event, participants can once again vie for a share of the daily prize pool totaling 100,000 USDT by engaging in trading BTCUSDT Perpetual. According to official sources, the 1st phase of HTX's Futures "Trade to Earn" event successfully concluded on March 27, with a 7-day cumulative trading volume exceeding 1 billion USDT and its trading depth returning to the Top 3. The trading volume has surged by 179% compared to before the event started. The platform has distributed rewards totaling over 300,000 USDT. At present, HTX has launched the 2nd phase of Futures "Trade to Earn" event, lasting from 00:00:00 (UTC+8) on March 29, 2024, to 23:59:59 (UTC+8) on April 10, 2024. This event consists of 13 rounds, with each round spanning one day from 00:00:00 (UTC+8) on Day T to 23:59:59 (UTC+8) on the same day. Rewards will be credited to participants' HTX Spot accounts within 3 working days after the end of each round. In this event, the applicable futures trading pair is BTCUSDT Perpetual (copy trading applies as well). Participants stand a chance to split a daily prize pool of $HTX worth 100,000 USDT. Rewards from the daily prize pool are distributed on a first-come, first-served basis. With just one click on the "Register Now" button, BTC traders can effortlessly join the event, unlocking the opportunity to earn awesome rewards while indulging in trading with negative fees. Event Details: https://www.htx.com/support/en-us/detail/84965919448394 It's worth noting that HTX has enhanced the reward ratio for its Futures "Trade to Earn" event. In the previous event, participants could earn a 105% reward ratio for Maker orders and a 102% reward ratio for Taker orders. However, in the second phase of the Futures "Trade to Earn" event, the reward ratio for Maker orders has been raised to 110%, while Taker orders now offer a 105% reward ratio, much higher than typical Earn products. HTX's "Trade to Earn" event serves as an innovative model for cryptocurrency trading and empowerment, providing users with broader opportunities to engage in trading and earn profits. HTX will continue to improve the “Trade to Earn” model, optimize user experience, and enhance platform value. At the same time, it will actively explore more innovative business models to provide users with more diversified and efficient digital asset trading services. About HTX Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3. Contact Details Michael Wang glo-media@htx-inc.com Company Website https://www.htx.com/

March 28, 2024 09:31 AM Eastern Daylight Time

ToolsGroup and Scarpe&Scarpe to Present at upcoming eP Summit, April 9-10, Florence, Italy

ToolsGroup

ToolsGroup is excited to announce our participation in the upcoming eP Summit 2024, the Pitti Immagine event focused on the relationship between fashion and the digital world in Florence, Italy, on April 9-10. Additionally, we are thrilled to highlight the presence of one of our top retail customers in Italy, Scarpe&Scarpe, who will share their success story. Marcello Pace, CEO of Scarpe&Scarpe, a major player in the retail of shoes and leather goods with over 100 stores across Italy, will discuss how the company is transforming its merchandising processes by integrating ToolsGroup’s AI-powered solutions. This revolutionary approach has enabled Scarpe&Scarpe to optimize margins while minimizing overstock, resulting in significant business improvements. Pace first saw the value of the ToolsGroup solutions at the time when he was CEO of PittaRosso, another large Italian retailer of shoes, an experience which has eventually been published as a Harvard Business School case study. Facing the challenge of overstock and the need to enhance sell-through rates, PittaRosso implemented an automated markdown optimization solution leveraging historical sales data, comprehensive market insights, and inventory analytics. Within just two months of adopting ToolsGroup’s AI-driven solution, PittaRosso experienced a remarkable +14.3% increase in sell-through, alongside improved inventory efficiency, contributing to a €4.2 million boost in the overall margin. Pace’s success in generating growth for PittaRosso through revolutionary AI was the foundation for his vision towards achieving a similarly transformative impact at Scarpe&Scarpe. Marcello Pace commented, “We urgently needed a strategy to maximize margin and sell-through rates. Within just months, ToolsGroup’s AI-powered solution provided tangible results, perfectly aligning with our inventory and growth objectives. Embracing digital transformation is crucial for our brand’s retail expansion, and ToolsGroup emerged as the ideal technological partner to enhance our revenue and margin growth.” Inna Kuznetsova, CEO of ToolsGroup, emphasized, ““Scarpe&Scarpe's success embodies today’s AI powered revolution in retail and supply chain planning technologies. The immediate business impact they observed is a testament to how real-time decision making not only adapts to an unpredictable market, but enables businesses to thrive in it. It's a privilege to partner with Scarpe&Scarpe on their innovation and digital transformation journey. Together, we're paving the way for smarter, more sustainable growth.” Curious to learn more about ToolsGroup’s retail planning solutions? Book a meeting with us at the link https://www.toolsgroup.com/events/ and visit our booth A/5 at eP Summit on April 9-10 at Stazione Leopolda, Florence. About Scarpe&Scarpe From the 1960s to today, from retail to specialized distribution, the Scarpe&Scarpe brand has been the protagonist of great changes while remaining faithful to its mission. The variety of proposals, the quality of materials and the competitiveness of prices have always characterized the entire production of a company which, through targeted investments and constant attention to competitive scenarios, has been able to conquer the Italian market by responding to the needs of the public in always effective manner. Today, thanks to the strong identity of the brand, the effectiveness of the entrepreneurial strategies, the careful planning of the format of the exhibition spaces and the qualification of the sales staff, Scarpe&Scarpe is a consolidated and successful commercial reality, as explicitly demonstrated by the data on its dimensions. In fact, the brand currently has over 100 stores distributed across the country and relies on the collaboration of 1300 employees. About ToolsGroup ToolsGroup’s innovative AI-powered solutions enable retailers, distributors, and manufacturers to navigate through supply chain uncertainty. Our retail and supply chain planning suites empower a new level of intelligent decision-making and unlock powerful business improvements in forecast accuracy, service levels, and inventory - delighting customers and achieving financial and ESG KPIs. Stay in touch with ToolsGroup on LinkedIn, Twitter, YouTube, or visit www.toolsgroup.com. Contact Details Meir Kahtan +1 917-864-0800 mkahtan@rcn.com Company Website https://www.toolsgroup.com

March 28, 2024 09:00 AM Eastern Daylight Time

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The Next Wave Of AI? How Hailo’s Edge AI Chips May Help Transform The Industry

OurCrowd

By Meg Flippin, Benzinga Artificial intelligence is no longer restricted to big data centers, crunching complex data sets to help businesses increase productivity and improve processes. It is becoming ubiquitous as more use cases for this transformative technology emerge. One only has to look to Microsoft Corp.’s (NASDAQ: MSFT) Copilot and OpenAI’s ChatGPT for evidence. Relying on a large language model, the chatbots enable users to research and write content in seconds. That’s just one example of how AI is becoming more mainstream. “We’re in the IBM mainframe era of AI, with the giant data centers representing a few giant computers that dominated the scene during the mainframe era,” George Gilder, the well-known investment advisor who has often been ahead of trends and predicted the world would shift to a decentralized model, said during a webinar for the community and the Gilder Private Reserve subscribers. “I think AI is going to be in every smartphone and every pocket, and it's going to be distributed through the Internet of Things. It's going to be ubiquitous. It's really a new IO for the new technology platform of the age.” Hailo Sits On The Edge That shift to decentralized AI where it no longer lives in the cloud or isolated in a data center, but rather on the edge, is where Hailo, the Israeli semiconductor startup, is operating. It sees a big opportunity for newcomers like itself to take advantage of the natural progression of AI. “AI is learning from examples, contrary to plastic computers which are just being given a very specific set of rules. It’s kind of intuition versus logic,” Orr Danon, CEO at Hailo, said during an interview portion of the webinar with John Schroeder of the Gilder Private Reserve. “It’s a huge pivot in the kind of technology you need to implement this. It’s an opportunity for a new player to come and emerge and take a significant market share. And that's exactly what we are doing in the company.” It is a big and growing market opportunity. Danon said the global chip market is about $600 billion today and is projected to cross the $1 trillion per annum mark at the end of the decade. Hailo makes AI vision processors and AI accelerator chips designed to accelerate embedded deep learning applications on edge devices. The company’s chips can be embedded in a variety of devices including autonomous vehicles, personal computers, smart cameras, robotics, industrial machinery, healthcare devices, drones and home appliances. Hailo Does It Cheaper While big chip companies like Nvidia Corp. (NASDAQ: NVDA) are focusing on making AI chips for data centers and cloud computing, Hailo is seeing growing demand for AI chips that sit on the edge, processing the data locally for use with everything from in a variety of devices including autonomous vehicles, personal computers, smart cameras, robotics, industrial machinery, healthcare devices and drones. Hailo says its chips are cheaper, more efficient and only require a few watts for power consumption. In comparison Nvidia's chip requires up to hundreds of watts, Hailo said. “The apps that you run are local. Of course, you use data that is connected to the cloud, but the majority of data crunching is being done locally. And that's exactly what we believe in,” said Danon. “This is very beneficial in terms of power consumption of the communication requirements. If you're doing anything that requires a response quickly, like a car moving and needing to understand what's going on around it, you have to be local.” That means someday these edge AI chips will be able to make everyday devices even smarter whether it is a high-definition camera or a vacuum cleaner. Are you looking for an AI investment that won’t cost a fortune? Check out what the founders of Hailo are doing to revolutionize this transformative technology here. Cloud Will Always Have Its Role That’s not to say there won’t be a need for the cloud when it comes to AI, it’s rather that they will complement each other and evolve. For example, cloud and big data centers will always be needed to train the AI, but when it comes to processing or performing the tasks the AI was trained to do, Hailo believes it will happen locally or on the edge. Danon said since the company launched in 2017, Hailo has seen the majority of AI deployments occurring outside of data centers – and that’s also happening with large language models like ChatGPT. “Over the past few years, we've seen the first wave of AI, which is based on fundamentally machine learning models trained by massive amounts of data,” said Danon. “But now we're seeing the second wave emerge. And that is, generative AI, which we are seeing in things like ChatGPT.” AI is in its infancy, but it’s quickly moving outside of the big data center and into the devices we use every day. That presents a big opportunity for chip makers catering to this area of the market including Hailo. Interested in getting in on a startup before the second wave of AI takes off? Click here. Featured photo courtesy of Hailo. OurCrowd was started in 2013, driven by the idea that the business of building startups grows bigger and better when the global ‘crowd’ gains access to VC-level investment opportunities.Today, OurCrowd is a global venture and alternative investing platform that empowers institutions and individuals to invest and engage in emerging companies. OurCrowd vets and selects companies, invests its capital, and provides its global network with unparalleled access to co-invest and contribute connections, talent and deal flow. OurCrowd builds value for its portfolio companies throughout their lifecycles, providing mentorship, recruiting industry advisors, navigating follow-on rounds and creating growth opportunities through its network of multinational partnerships. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Lisa Graston lisa.graston@ourcrowd.com Company Website http://www.ourcrowd.com

March 28, 2024 08:45 AM Eastern Daylight Time

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Xalles Holdings: nurturing tech startups towards lucrative exits

Xalles Holdings

Xalles Holdings (OTC:XALL) chairman Thomas Nash takes Proactive's Stephen Gunnion through the company's strategy of acquiring technology companies with strong assets and management teams, as well as the potential for significant growth. Nash explained that Xalles targets early-stage companies, guiding them through a business lifecycle that spans from incubation to acceleration and growth, with the ultimate aim of achieving a profitable exit. Nash emphasized the importance of the management team and key personnel in these acquisitions, stating that companies remain wholly owned subsidiaries, retaining their original management to ensure motivation and alignment with Xalles Holdings’ goals. Xalles Holdings does not adopt a hands-on approach in the daily operations of its acquisitions but provides support in areas like financial backing, marketing, PR, and leveraging business development networks, Nash said. This support is aimed at helping subsidiaries refine their business plans and navigate towards financial milestones effectively. The company's acquisition strategy does not have a fixed timeframe, offering flexibility to adapt to each company's unique needs and market conditions. This strategy includes various phases, from early-stage incubation with Exotic Studio to acceleration with Exogamous Advisors and eventually to a formal acquisition under the RISE model, which stands for Roll In Selected Exit. Pending acquisitions include 100% of Fluid Tech and a stake in WooSender, demonstrating Xalles Holdings’ diverse portfolio. The company also reported a 234% growth in revenue year-over-year for the third quarter of 2023, marking its ninth consecutive quarter of revenue growth, attributed to strategic acquisitions and effective support for these companies. Contact Details Proactive North America Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

March 28, 2024 08:15 AM Eastern Daylight Time

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BenevolentAI advances novel ulcerative colitis treatment through Phase 1a trial

BenevolentAI

BenevolentAI (OTC:BAIVF) chief scientific officer Dr Anne Phelan joins Proactive's Stephen Gunnion with positive safety data from the Phase 1a, first-in-human, clinical study of BEN-8744 in healthy volunteers. Phelan explained that BEN-8744 is a potent, selective PD10 inhibitor, uniquely designed to be peripherally restricted to mitigate CNS-mediated side effects associated with previous PD10 inhibitors. This design aims to ensure safety and tolerability, a primary goal in this phase of clinical research. She said the study successfully met its objectives, proving the hypothesis that peripheral restriction could eliminate adverse side effects, although it was not positioned to assess therapeutic value directly. Phelan further detailed the study's methodology, highlighting its role in estimating the pharmacologically relevant exposure and understanding the drug's exposure profile, which is critical for determining the efficacious dose for future patient trials. The interview also shed light on BenevolentAI's innovative platform that integrates diverse data types, including genomics and transcriptomics, through advanced AI and machine learning models. This platform identified PDE10 inhibition as a novel approach for treating ulcerative colitis, despite the lack of direct literature linking PDE10 to the condition, demonstrating the company's proprietary method in target discovery. Looking ahead, Phelan mentioned ongoing Biomarker Qualification studies and extended toxicology studies to pave the way for phase 1b and phase 2 studies, with an emphasis on ensuring longer dosing durations are safe for patients. This step is pivotal for moving BEN-8744 towards clinical efficacy trials, underlining BenevolentAI's commitment to advancing drug development through AI-enabled insights. Contact Details Proactive North America +1 604-688-8158 NA-editorial@proactiveinvestors.com

March 28, 2024 08:12 AM Eastern Daylight Time

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HTX Ventures: Why BounceBit's Innovative Solutions Might Be Key To Unlock the Bitcoin (BTC) Ecosystem?

HTX Ventures

Singapore / March 28, 2024 – With the approval of BTC spot ETFs, institutions and individuals worldwide are increasing their holdings of BTC, spurring a surge in the BTC prices. BTC now ranks among the top 10 assets globally by market capitalization. BTC inscriptions and scaling are two niche segments gaining widespread traction in this market cycle. The exploration of diversifying revenue streams from BTC ecosystem assets is drawing the attention of the cryptocurrency market. So, which solution will become the optimal one to tackle issues such as interest on BTC assets, network confirmation delays, lack of smart contracts, and high gas fees? Current solutions for enhancing the BTC ecosystem include Layer 2s and sidechains. As one of the investor of BounceBit’s 6M funding round, HTX Ventures sees BounceBit, with its CeFi+DeFi product model, as a potentially innovative solution to open up the Bitcoin ecosystem for more application. This research report thoroughly examines BounceBit, outlining its product design philosophy and HTX Ventures' investment rationale. HTX Ventures, the global investment arm of HTX, leverages an integrated approach that combines investment, incubation, and research to identify the most exceptional and promising teams around the world. To date, HTX Ventures has supported over 200 projects spanning multiple blockchain tracks, with some high-quality projects already listed on HTX for trading. What Is BounceBit? BounceBit is a BTC restaking chain exclusively designed for Bitcoin, building BTC restaking infrastructure that provides a foundational layer for different restaking products, secured by the regulated custody of Mainnet Digital and Ceffu. It employs a BTC + BounceBit hybrid PoS mechanism for validation. BounceBit resolves trust issues with underlying BTC assets through multi-party custodianship, creating BBTC for DeFi interactions on the Bounce mainnet. Native BTC assets are used to participate in low-risk arbitrage strategies on various centralized exchanges. Additionally, under a hybrid token staking mechanism, using BBTC+BB (BounceBit's native token) for staking can generate LSD tokens, further obtaining node staking rewards and restaking profits. By combining centralized custody and sidechains, BounceBit aims to address the longstanding trust issues of sidechains while reinvigorating the BTC ecosystem. This will reduce trading fees and unlock the financial potential of BTC, enabling access to applications in DeFi, gaming, social, and more sectors. How Does BounceBit Work? BounceBit's product design is very ingenious, as shown in the following diagram: Users deposit multiple types of on-chain Bitcoin assets into the BounceBit Protocol which is actually supervised by BounceBit, CEFFU, and Mainnet Digital under a jointly managed MPC wallet. This setup is to address trust mechanism issues and ensure the security of user assets. By using off-exchange settlement (OES) solutions like Ceffu’s MirrorX, it gives protocol secure access to the deep liquidity on exchanges and earn yield through diverse trading strategies, while funds stay safe on-chain in MPC wallets, a wallet technology that essentially splits the private key into multiple shards. This way the single point of failure (SPOF) risk is reduced to a minimum. Additionally counterparty-risk is reduced, as the user funds are never actually stored on any centralized exchange, but rather are mirrored by Ceffu. BounceBit works with multiple experienced asset managers with a longstanding positive return track record to trade through MirrorX. All of the asset managers use Funding Rate Arbitrage as their trading strategy. Funding Rate Arbitrage is a profitable delta-neutral strategy which capitalizes on the difference of the funding rate between different markets. On the other hand, after users transfer their native assets into BounceBit, a new asset, B-Token, will be minted. Taking BTC as an example, after depositing BTC, users will receive BBTC assets that operate on the BounceBit mainnet. Currently, there are two main types of on-chain activities for this asset: First, under BounceBit's hybrid staking model, using BBTC+BB (the project's native token) to participate in node staking, while the LST generated from staking can further engage in restaking activities, further amplifying staking returns; second, BBTC can be used in various DeFi interactions on-chain. Currently, BounceBit has launched BounceClub for developers and users, where users can participate in various DeFi activities and income-generating activities on the BounceBit mainnet, increasing the richness of BTC asset earnings. Source:https://x.com/bounce_bit/status/1771481179683692656?s=46&t=ODDW1eIwucwwKwUR-9MGBg In terms of sources of income, by participating in BounceBit's staking and on-chain financial interactions, users can get yield on their assets: CeFi yield from native assets under centralized exchange sub-accounts. DeFi yield from interactions on the BounceBit chain. Staking rewards from using BBTC+BB for staking, as well as restaking profits from LST generated after staking. In summary, BounceBit, while ensuring asset security through multi-party custodianship, offers multiple ways to generate yield. HTX Ventures’ Investment in BounceBit HTX Ventures, being a principal investor in Bouncebit, is confident that Bouncebit is able to address a significant and genuine market demand by leveraging its centralized custody model built upon a standard sidechain. BounceBit's primary objective is to tackle issues such as interest on BTC assets, underutilization of idle BTC, lack of innovation, and high gas fees. Essentially, it aims to provide diverse revenue streams, mitigating Bitcoin's challenge of lacking smart contracts. Current solutions for enhancing the BTC ecosystem include Layers-2s and sidechains. Layer-2 solutions execute Bitcoin transactions off-chain to enhance transaction speed. Examples of Layer-2s include state tunnels and rollups. State channels, like the Lightning Network, have limited scalability and mainly focus on expediting peer-to-peer transactions, making it challenging to deploy Ethereum-level smart contracts. Rollups lack sufficient trust guarantees as Bitcoin Layer-2 solutions cannot be verified by the mainnet upon returning the ledger due to issues with underlying code and signature verification. The most promising approach currently involves upgrading Bitcoin's BIP layer and updating miners' underlying codes based on new Taproot protocols to support OP/ZKP verification and Bitcoin miner calculation. However, there may still be a long way to go before rollups' implementation. Sidechains function as independent chains, allowing users to map Bitcoin from mainnets for application. While sidechains offer better processing speeds, they lack trust verification from the Bitcoin mainnet, thus raising concerns about trust and consensus. Additionally, project misconduct is more likely to occur, jeopardizing the security of mapped assets. This TVL dilemma is common among most sidechains. BounceBit posits that the infrastructure related to Bitcoin is primarily asset-driven, emphasizing how BTC can be utilized in new environments or chains. Unlike focusing on building layer 2 solutions directly atop the Bitcoin chain, BounceBit stands as an isolated PoS layer one. Here, nodes stake both BTC and BounceBit tokens to ensure the security of the chain. The connection between BounceBit and BTC is established at the asset level rather than the protocol level. BounceBit seeks to address the consensus and trust issues of sidechains through centralized custody on top of a regular sidechain. Given current circumstances, this combination of centralization and decentralization may offer a compromise to solve both technical and trust issues. BounceBit's design mechanism and development team have created a competitive edge and opened up opportunities within the sector. Outlook With the approval of BTC spot ETFs, institutions and individuals worldwide are increasing their holdings of BTC, spurring a surge in the BTC prices. BTC now ranks among the top 10 assets globally by market capitalization. Additionally, BTC inscriptions and scaling are two niche segments gaining widespread traction in this market cycle. The progress in these areas has sparked excitement in the market, drawing more attention to the BTC ecosystem. Developers and market participants are exploring additional BTC-based use cases and income opportunities. BounceBit, as a product combining CeFi and DeFi, possesses a certain degree of innovation in its product model. By integrating centralized and decentralized mechanisms, it introduces a tri-party custodianship mechanism into the trust solution, creating new EVM chain assets to invigorate the financial attributes of native assets, potentially becoming a new solution for the Bitcoin ecosystem. Moreover, the project team has demonstrated excellent capabilities in product operation and traffic generation. HTX Ventures expects more technical breakthroughs in the BTC ecosystem, accompanied by the emergence of more ecosystem projects. This trend will fuel excitement and anticipation. Currently, BounceBit's combination of CeFi and DeFi has promising potential for TVL growth and is poised to diversify revenue streams from BTC ecosystem assets. *Special thanks to BounceBit for their support in writing this article. About HTX Ventures HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice. HTX Ventures presently backs over 200 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most vigorous Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including IVC, Shima, and Animoca. Contact Details Michael Wang glo-media@htx-inc.com Company Website https://www.htx.com/en-us/ventures

March 28, 2024 05:01 AM Eastern Daylight Time

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Gathering of Teams! HTX Boosts Liquid Restaking Rewards with an Additional $20,000, Empowering Team Play

HTX

HTX Liquid Restaking now boasts a $100 million staking quota after the launch of the last reward boost on March 25. The exchange's super event has emerged as a top choice for users seeking rewards from on-chain ecosystems and attracted wide enthusiastic participation. In response to the wild engagement, the Liquid Restaking event launched the new feature of team participation, a catalyst fostering teamwork, competition, and the chance to seize greater rewards, and empowering users to leverage their influence. Engaging is as simple as creating your own team or joining an existing one. According to HTX's official announcement, the exchange has decided to further boost the event's reward pool by adding $20,000 worth of $HTX specifically for team leaders. (Stay tuned for more incentives for teams and team leaders.) Currently, each team can have a maximum of 300 members. As for the event details, it is reported that snapshots of the event leaderboard will be taken from March 25, 2024, at 09:00 (UTC) to April 24, 2024, at 16:00 (UTC). Rewards worth $20,000 in $HTX will be distributed within 7 working days after April 24, 2024, at 16:00 (UTC). Moreover, the rewards will be given to the leaders of top-ranked teams that hold the top 3 positions for the most days within 30 days by April 24, 2024. The rankings are based on the leaderboard's snapshots taken daily at random time during the event period. Specifically, teams will be ranked based on the team participating amount (the total assets of all members enabled for Liquid Restaking for the designated cryptocurrencies). The leaderboard can be viewed on the event page. Join now! Here's how you can create/join a team: How to create a team: Visit the Liquid Restaking event page > Click on Boost > Create Team > Set up the team profile > Share the invitation poster or link with friends; How to join a team: Scan the QR code on the invitation poster / click the invitation link > Visit the Liquid Restaking event page > Confirm / Enter the team invitation code > Join the team. The HTX Liquid Restaking event boasts features such as high value, free claims, and greater flexibility. Highlights of the event update include: ● Futures accounts are also eligible for participation. You can share corresponding crypto rewards after the platform captures a snapshot of your assets in your Spot account and net equity in your Futures account. ● Boosters. You have the chance to receive up to a 150% boost on your rewards through the following means: 1) Join or create a team. 2) Daily trading fees, including net fees generated from spot, margin, and futures trading. The higher the daily trading fees, the greater your rewards get boosted. 3) $HTX holdings (in Spot and Earn accounts). Users can register for Liquid Restaking with their spot and futures account balances snapshotted to earn rewards, including early airdrops of popular projects such as EigenLayer and Merlin Chain, as well as cryptocurrencies such as ETH, USDT, HTX, and TRX. About HTX Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3. Contact Details Michael Wang glo-media@htx-inc.com Company Website https://www.htx.com/

March 28, 2024 03:23 AM Eastern Daylight Time

HTX Introduces Fee-Free BTC Trading with Daily 200K USDT Rewards Amid BTC's Surge to $70K

HTX

After experiencing the largest weekly drop in nearly six months, Bitcoin rebounded on March 25, briefly reaching $71,000. At the time of writing, Bitcoin was trading at 70,590 USDT on HTX. According to a report released by 10x Research, Bitcoin may surge to a new high of $83,000 after a period of consolidation. Ki Young Ju, the founder and CEO of CryptoQuant, has warned of a potential liquidity crisis among sellers within the next six months, citing the rapid net inflow of spot Bitcoin ETFs, which exceeded 30,000 BTC in early March. Should such a crisis occur, Bitcoin's next peak could surpass expectations due to limited seller liquidity and a thin order book. Given Bitcoin's heightened anticipation and scarcity, leveraging its volatility for maximum returns is a crucial consideration for investors. In response to this, HTX has introduced the "Trade to Earn" event aimed at enriching trading experiences and offering users opportunities for asset growth. Trade to Earn: HTX's Fee-Free Trading of BTC The Trade to Earn event is a benefit for all trading users at the HTX exchange. After successful registration for this event, participants can earn $HTX as rewards by trading designated cryptocurrencies. Additionally, all daily trading fees generated will be fully utilized for $HTX buybacks to support stable appreciation. 100% of $HTX acquired through buybacks will be entirely burned. Currently, the Trade to Earn event applies to BTC/USDT spot and futures trading. Participation in either trading type enables users to enjoy negative fee rates and stand a chance to share a daily prize pool of 100,000 USDT, respectively. This event enhances the platform's liquidity through reduced trading costs and improved trading efficiency, offering users better trading experience. Meanwhile, the supply of $HTX will be decreased through the event to enhance its stability and value, which will help attract more investors and users to participate in ecosystem development. Most importantly, this burning method also grants more earning opportunities for HTX DAO users. Through participation in liquidity mining and staking, users can receive more rewards in tokens, thereby achieving wealth appreciation. A Guide to Trade to Earn: How to Grab 200,000 USDT Daily According to HTX's announcements, the Trade to Earn event will conclude at 11:59:59 (UTC) on April 14, 2024, for the BTC/USDT spot trading and at 11:59:59 (UTC) on March 27, 2024, for the BTCUSDT perpetual futures trading. A daily prize pool of 100,000 USDT worth of $HTX will be distributed for each pair. The event is on a daily basis. A day is defined from 12:00 (UTC) on Day T to 11:59 (UTC) on Day T+1. For spot trades, rewards will be calculated and updated starting on Day T+2 at 04:00 (UTC), and users can claim their $HTX at any time. For futures trades, rewards will be credited to winners' HTX spot accounts within 3 working days after the end of each round. Trade to Earn is open to all HTX users, including market makers and API traders. To participate in Spot "Trade to Earn", you must have at least 300 Rockets and register on the event page. For the futures event, you must have at least 10 USDT (excluding futures trial bonuses) in your futures account and click on the Register Now button. Notably, starting from 16:00:00 (UTC) on March 19, 2024, trading fees corresponding to participants' rewards in the "Trade to Earn" event will no longer be eligible for commissions or rebates. Other fees generated by their trades will remain unaffected. This initiative aims to further increase the daily buyback amount of $HTX to support stable $HTX appreciation. About HTX Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3. Contact Details Michael Wang glo-media@htx-inc.com Company Website https://www.htx.com/

March 28, 2024 03:20 AM Eastern Daylight Time

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HTX Introduces Fee-Free BTC Trading with Daily 200K USDT Rewards Amid BTC's Surge to $70K