Emirex Exchange Receives Investment from Alpha Sigma Capital The capital will assist in the growth and expansion of Emirex in the MENA region including new products in DeFi industry - Financial Post | Canada News Media
Emirex Exchange Receives Investment from Alpha Sigma Capital The capital will assist in the growth and expansion of Emirex in the MENA region including new products in DeFi industry – Financial Post
Dubai, Oct. 01, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) Alpha Sigma Capital (ASC), a pioneering digital asset fund investing in emerging cryptocurrencies and blockchain companies invested in the Emirex Exchange this week. Enzo Villani, CEO and Chief Investment Officer of Alpha Sigma Capital and strategist for crypto and traditional exchanges such as OKEx and Nasdaq was appointed to the Emirex Advisory Board.
Founded in 2019, Emirex exchange operates in the Middle East and Asian markets with headquarters in Dubai. The company’s mission is to develop infrastructure that creates a new digital economy linking these markets with Africa, Europe, and eventually the United States.
The exchange has grown to over 100,000 registered users with over 30,000 active traders from around the world. There over 150,000 subscribers among social networks and over 50 trading pairs listed and available on the exchange.
Kirill Mishanin, CSO of Emirex commented, “Alpha Sigma Capital’s partnership with Emriex comes at a key time for the company. Emirex has entered a new strategic growth phase of bringing VCs, Angel Investors, and strategic partners to the MENA market that requires leadership with extensive blockchain development experience. In order to continue to capitalize on the opportunities ahead, and continue our DeFi growth in the MENA region, we are very pleased to have attracted Enzo Villani as a key strategic advisor.”
“Emirex’s leadership and the team have extensive experience in enterprise technology, blockchain, and financial markets. We’re excited to be aligned with our partners in the MENA region and plan to leverage our exchange experience to realize the vision and deliver for our customers.”, commented Enzo Villani, CEO and Chief Investment Officer of Alpha Sigma Capital.
Emirex Expansion
Currently, Emirex is on the last step before the launch of DeFi aggregator platform EmiFlex which combines multiple DeFi solutions, including loans, borrowing, staking, decentralized exchange, insurance, and mining and allows users to get maximum results in a few simple steps.
EmiFlex benefits:
Provides its users with one the highest interest rates on the market
Combination of the most profitable DeFi services
Adaptive and automated management system based on a decentralized approach
Moreover, a part of the Emirex team takes an active part in the decentralised community developing an AMM DEX EmiSwap. EmiSwap is a fork of the Mooniswap decentralized exchange and was created in order to solve the current problems of the DeFi industry. EmiSwap is an open-source project with decentralized governance and several internal coins – ESW and ESD.
ESW – is a governance and voting token, that gives the right to receive a share of trading fees in proportion to the share of ownership and rights to participate in the voting procedure.
ESD – is a token that gives rights to receive assets in the basket of the yield pool denominated in DAI in proportion to the share of ESW token ownership.
About Emirex
Emirex exchange operates in the Middle East and Asian markets with headquarters in Dubai. In a broader sense, the company’s mission is to develop infrastructure that creates a new digital economy linking these markets with Africa and Europe.
About Alpha Sigma Capital
Alpha Sigma Capital (ASC) is an investment fund focused on emerging blockchain companies that are successfully building their user-base, demonstrating real-world uses for their decentralized ecosystems, and moving blockchain technology towards mass-adoption. ASC is focused on companies leveraging blockchain technology to provide value-add in areas such as fintech, AI, supply chain, and healthcare.
Disclaimer: This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Tokens and virtual currencies, in general, are not legal tender, in any country, and are not backed by any government as legal tender, nor should they be treated as such.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.
The S&P/TSX composite index was up 171.41 points at 23,298.39.
In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.
The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.
The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.
The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.
This report by The Canadian Press was first published Aug. 29, 2024.
The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.
The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.
Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.
The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.
Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.
Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.
Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.
Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.
The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.
