Author: CryptoCurrencyNews

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

View original content to download multimedia:https://www.prnewswire.com/news-releases/nano-labs-subsidiary-nano-bit-and-bitfi-enter-strategic-partnership-to-revolutionize-bitcoin-asset-management-302347784.html

SOURCE Nano Labs Ltd

Featured Image: depositphotos @ SectoR_2010

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

Photo – https://www.007stockchat.com/wp-content/uploads/2025/01/Sources_Bybit_Block_Scholes.jpg
Logo – https://www.007stockchat.com/wp-content/uploads/2024/03/Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/market-eyes-crypto-president-inauguration-as-btc-tumbles-at-100k-bybit-and-block-scholes-analysis-302347880.html

Featured Image: depositphotos @ PromesaStudio 2

Disclaimer

The winning design will win an exclusive virtual meet-and-greet with Pierre, a signed helmet, and unforgettable race day experience at their local GP

DUBAI, UAE, Jan. 8, 2025 /CNW/ — Binance, the world’s largest cryptocurrency exchange, has teamed up with BWT Alpine Formula One driver, Pierre Gasly, to give fans the chance to design his helmet for the season-opening Australian Grand Prix in March 2025. Building on the success of the 2023 Abu Dhabi Grand Prix initiative, which drew over 700 fan submissions, this year’s contest invites fans and Binance users to submit designs for a chance to win the ultimate fan prize, including a signed, full-sized replica helmet and exclusive experiences.

As part of Pierre and Binance‘s partnership, participants of the helmet contest are encouraged to submit designs that showcase originality and creativity, while reflecting Binance‘s values that resonate with its innovative ethos, fostering connections within the motorsport community and commemorating Gasly’s Australian GP race.

The winning design will be worn by Pierre Gasly throughout the Australian GP race weekend, making it an iconic part of the event. The winner will also have an exclusive virtual meet-and-greet with Pierre, receive a signed replica of the helmet, and enjoy an unforgettable race day experience at their local Grand Prix.

All entries must be submitted between January 8th (00:00 UTC) to January 20th, 2025 (00:00 UTC), and the winning helmet will be announced ahead of the Australian Grand Prix in early March.  All requirements can be found in the Terms & Conditions of the contest.

Recently, Pierre, who is a crypto native, has also partnered with Binance to debunk crypto myths in a four-episode series in which he approaches topics around security, crypto applications in real world and the benefits of Web3 in an entertaining and educational way. Further showcasing how Binance can bring  fans closer to their favorite sport, offering unique content and new ways to connect.

Pierre Gasly said: “Bringing together the spirit of the crypto and F1 community is truly electrifying and I’m honored to bring crypto education to fans through Binance. Our previous helmet contest for the 2023 Abu Dhabi Grand Prix was an incredible showcase of community-focused energy and creativity. I had the chance to meet the winner and I’m excited to see how fans channel their inspirations for the Australian Grand Prix – We have some exciting plans to reveal the winning design at the start of race week, so stay tuned!”

“Formula One fans are among the most passionate and engaged globally, and through innovation, we’re able to bring a new level of dynamism to fan engagement. With our partnership with Pierre and BWT Alpine Formula One, we are excited to continue bringing F1 fans closer to them through our efforts, including this latest helmet contest,” said Rachel Conlan, Binance Chief Marketing Officer.

“We’re excited to once again see the powerful connections between the worlds of crypto and F1 through this helmet contest. Pierre embodies the perfect blend of both worlds, and as he prepares for the season-opener in Australia, fans have the chance to be part of history at the start of the 2025 race season,” said Sarah Dale, Binance Global Head of Partnerships.

About Binance

Binance is a leading global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and registered users. Binance is trusted by more than 250 million people in 100+ countries for its industry-leading security, transparency, trading engine speed, protections for investors, and unmatched portfolio of digital asset products and offerings from trading and finance to education, research, social good, payments, institutional services, and Web3 features. Binance is devoted to building an inclusive crypto ecosystem to increase the freedom of money and financial access for people around the world with crypto as the fundamental means. For more information, visit: https://www.binance.com.

View original content to download multimedia:https://www.prnewswire.com/news-releases/f1-fans-can-design-pierre-gaslys-australian-grand-prix-helmet-through-binance-302345718.html

SOURCE Binance

Featured Image: depositphotos @ ilolab 2

Disclaimer

LAS VEGAS, Jan. 7, 2025 /PRNewswire/ — Canaan INC (NASDAQ: CAN), a leading blockchain hardware manufacturer, today announced the launch of the Avalon Mini 3 and Nano 3S in Las Vegas, CES. The two innovative Bitcoin mining devices are designed to democratize cryptocurrency mining for individuals and turning a home heating system into a crypto mining device.

Product Innovation

Canaan is redefining home cryptocurrency mining with two groundbreaking devices. The Avalon Mini 3, with a Hashrate of 37.5Th/s, offers a unique dual-purpose solution, combining efficient Bitcoin mining with home heating. The app-controlled operation and sleek, quiet design, provides a remarkably easy-to-use, energy-efficient solution for mining newcomers and enthusiasts.

The Avalon Nano 3S, which is upgraded from the widely-welcomed Avalon Nano 3, with a Hashrate of 6Th/s, complements this offering as an affordable, beginner-friendly Bitcoin mining device. Its compact and portable design alongside its low power consumption makes it ideal for individual users while supporting the broader goal of Bitcoin network decentralization.

Reimagining Technology Efficiency

The Avalon Mini 3 can simultaneously mine Bitcoin and warm living spaces, offering homeowners a unique way to offset energy costs and reduce environmental impact. This device gives users innovative access to heat recycling, turning the computational work of Bitcoin mining into a dual-purpose solution that provides both digital currency and home comfort.

“We are committed to making Bitcoin mining accessible to everyone,” said NG Zhang, CEO and founder of Canaan. “The Avalon Mini 3 and Avalon 3S represent our vision of user-friendly, practical mining solutions for the modern individual. We’re reimagining how technology can create value while minimizing environmental waste. The Avalon Mini 3’s ability to generate cryptocurrency while heating your home is a perfect example of our vision for sustainable, multi-purpose technology.”

Availability

Preorder Now at https://canaan.io/avalonhome

During the preorder period till the end of February 2025, the price for Avalon Nano 3S is USD249 and Avalon Mini 3 is USD899 while supplies last.

About Canaan Inc.

Canaan Inc. (NASDAQ: CAN), is a technology company focusing on ASIC high-performance computing chip design, chip research and development, computing equipment production, and software services. In 2013, under the leadership of Mr. Nangeng Zhang, founder and CEO, Canaan’s founding team shipped to its customers the world’s first batch of mining machines incorporating ASIC technology in Bitcoin’s history under the brand name Avalon.

Website: canaan.io 
Media Contact: pr@canaan-creative.com
Telegram Group Official: https://t.me/Canaanio
X.com: https://x.com/canaanio

Photo – https://www.007stockchat.com/wp-content/uploads/2025/01/image_5030889_9405383.jpg

View original content:https://www.prnewswire.co.uk/news-releases/canaan-introduces-revolutionary-bitcoin-mining-heaters-for-home-and-personal-use-in-ces-2025-302345271.html

Featured Image: depositphotos @ sdecoret

Disclaimer

Backpack EU to offer crypto derivatives throughout the European Union including perpetual futures where no regulated products currently exist

HANOVER, Germany, Jan. 7, 2025 /PRNewswire/ — Backpack Exchange, a fully regulated global cryptocurrency exchange, today announced the successful acquisition of FTX EU, the MiFID II-licensed former European arm of FTX. Approved by the FTX bankruptcy court and the Cyprus Securities and Exchange Commission (CySEC), this acquisition marks a major milestone in Backpack’s global expansion and commitment to delivering secure, regulated trading solutions across Europe.

With the acquisition, Backpack’s new EU arm will offer a full suite of crypto derivatives throughout the European Union including perpetual futures, a market where no regulated crypto derivatives currently exist, as unregulated offshore exchanges have been forced to wind down their unlicensed European operations.

Armani Ferrante, CEO of Backpack Exchange, commented: “As many international exchanges exit the European Union, becoming a MiFID II-licensed entity demonstrates our dedication to meeting the highest regulatory standards and is a significant step to bringing transparent, secure, and regulated crypto trading to an underserved European market.”

As part of the acquisition, Backpack EU will undertake responsibility for distributing the previously court-approved FTX bankruptcy claims to FTX EU customers.

Mr. Ferrante further noted, “Customer restitution is a crucial step to rebuild trust and confidence in the industry, and Backpack is committed to returning FTX EU customers’ funds as fast and as safely as possible.”

In addition to compliant product offerings, Backpack EU will provide seamless integration with traditional payment rails including instant, low-cost Single Euro Payments Area (SEPA)  payments and wire transfers in major currencies across the region.

The re-activation of the license is underway, with plans for Backpack EU to go live in Q1 of 2025. Further information as to how new users may sign up for Backpack EU and how FTX EU customers will be able to access their assets will be announced as it becomes available. For more information, visit https://eu.backpack.exchange/claim.

About Backpack Exchange

Backpack Exchange is a fully regulated global cryptocurrency exchange building an innovative, easy-to-use and compliant trading platform for both experienced and new web3 users worldwide. Backpack currently serves users from over 150 countries and regions with more than $60 billion in trading volume. 

The Backpack ecosystem comprises several products and services, including the popular Backpack Wallet (noncustodial), Backpack Exchange, and Mad Lads, the top NFT community in the Solana ecosystem.

X https://x.com/Backpack

Photo – https://www.007stockchat.com/wp-content/uploads/2025/01/Backpack_EU.jpg

View original content:https://www.prnewswire.co.uk/news-releases/backpack-announces-acquisition-of-ftx-eu-expands-crypto-trading-across-europe-302342778.html

Featured Image: depositphotos @ burdun

Disclaimer