DeFi
DeFi Technologies Announces Its Trading Desk, DeFi Alpha, Has Generated an Additional CAD$19.3 Million (USD$14.1 Million) Through Arbitrage
- Generation of significant yield: DeFi Alpha, DeFi Technologies’ specialized arbitrage trading desk, generated an additional CAD$19.3 million (USD$14.1 million) in Q3 2024 through low-risk arbitrage trades, contributing to a total of CAD$133.1 million (USD$97.5 million) in cash and digital asset equivalents in 2024.
- Improved financial situation: DeFi Alpha’s most recent gains will be reflected in the company’s Q3 2024 financial statements, further strengthening DeFi Technologies’ financial position and increasing its digital asset holdings.
TORONTO, July 16, 2024 /CNW/ – DeFi Technologies Inc. (the “DeFi Technologies”)Business” Or “DeFi Technologies“) (NEO: DEFI) (GR: RB9) (OTC: DEFTF), a financial technology company that is pioneering the convergence of traditional capital markets with the world of decentralized finance (“Challenge“), is pleased to announce the continued successful performance of its specialist arbitrage trading desk, DeFi Alpha. Building on its prior success, DeFi Alpha has generated significant incremental returns, demonstrating the effectiveness of the company’s strategic trading operations.
DeFi Alpha generated approximately an additional CAD$4.0 million (USD$2.9 million) in USDT and CAD$15.3 million (USD$11.2 million) in digital assets through low-risk arbitrage transactions in Q3 2024. This achievement resulted in a notable increase in the Company’s USDT balance and digital asset holdings, totaling CAD$19.3 million (USD$14.1 million). Combined with prior gains, DeFi Alpha generated over CAD$133.1 million (USD$97.5 million) in cash and digital asset equivalents in 2024.
The company’s financial statements for the third quarter of 2024 will reflect these gains, further strengthening DeFi Technologies’ financial position.
Olivier Roussy Newton, CEO of DeFi Technologies, commented: “We are delighted with the continued performance of DeFi Alpha and the substantial gains achieved through our arbitrage trading strategy. This success underscores our commitment to innovative, low-risk trading strategies that enhance our financial stability and generate value for our shareholders.”
DeFi Alpha is a specialized arbitrage trading desk that focuses on identifying and capitalizing on low-risk arbitrage opportunities in the cryptocurrency market. Using advanced algorithmic strategies and in-depth market analysis, DeFi Alpha aims to generate alpha by exploiting inefficiencies and discrepancies in the pricing of digital assets. The primary objective of the trading desk is to focus on arbitrage opportunities across centralized and decentralized markets, ensuring minimal market or protocol exposure to mitigate downside revenue volatility.
About DeFi Technologies
DeFi Technologies Inc. (CBOE CA: CHALLENGE) (GR: R9B) (OTC: DEFAULT) is a financial technology company pioneering the convergence of traditional capital markets with the world of decentralized finance (DeFi). Focusing on cutting-edge Web3 technologies, DeFi Technologies aims to provide investors with widespread access to the future of finance. Backed by a team of esteemed experts with extensive experience in financial markets and digital assets, we are committed to revolutionizing the way individuals and institutions interact with the evolving financial ecosystem. Join the DeFi Technologies digital community on Linkedin And Twitterand for more details visit https://defi.tech/
About Valour
Valor Inc. and Valor Digital Securities Limited (together, “Value“) issues exchange-traded products (“AND P”) that allow retail and institutional investors to access digital assets like Bitcoin simply and securely through their traditional bank account. Valor is part of DeFi Technologies Inc.’s (CBOE CA: CHALLENGE) (GR: R9B) (OTC: DEFAULT).
In addition to their new digital asset platform backed by physical media, which includes 1Valour Carbon Neutral Physical Bitcoin AND P, 1Valour Ethereum Physical StakingAnd 1Valor Internet Computer Physical StakingValour offers fully hedged digital asset ETPs with low to no management fees, with product listings on European exchanges, banks and brokerage platforms. Valour’s existing product range includes Valour Uniswap (United), Cardan (ADA), Peas (POINT), Solana (GROUND), Avalanche (AVAX), Cosmos (ATOM), Binance (BNB), Ripple (XRP), Toncoin (TONNE), Internet computer (PCI), Chain link (LINK), Heart (HEART), Enjin (ENJ), Valor Bitcoin Staking (Bitcoin), Bitcoin Carbon Neutral (BTCN), Hedera (HBAR), Valor 10 Digital Asset Basket (VDAB10) And 1Valour STOXX Bitcoin Suisse Digital Asset Blue Chip ETPs with low management fees. Valour’s flagship products are Bitcoin Zero and Ethereum Zero, the first passive investment products fully hedged with Bitcoin (Bitcoin) and Ethereum (ETH) as underlyings that are completely free of fees. For more information about Valour, to subscribe, or to receive financial updates and information, visit valor.com.
Caution regarding forward-looking information:
This press release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, the performance of DeFi Alpha, trading strategies and future trading opportunities; the assessment of DeFi Alpha’s performance; AUM growth; the development of ETPs; future demand for ETPs; the regulatory environment regarding the growth and adoption of decentralized finance; DeFi Technologies’ and its subsidiaries’ pursuit of business opportunities; and the potential merits or returns of such opportunities. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of DeFi Technologies, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors include, but are not limited to, the acceptance of the ETPs by exchanges; the availability of trading opportunities for DeFi Alpha; the change in valuation of digital assets held by the Company; the growth and development of decentralized finance and the digital asset industry; rules and regulations relating to decentralized finance and digital assets; general business, economic, competitive, political and social uncertainties. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update forward-looking information, except in accordance with applicable securities laws.
CBOE CANADA EXCHANGE ACCEPTS NO RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
SOURCE DeFi Technologies Inc.
For further information, please contact: Olivier Roussy Newton, Managing Director, [email protected](323) 537-7681