On the first day of #trading on the Abu Dhabi Securities Exchange (ADX), shares of cryptocurrency mining company Phoenix Group surged by about 50% following an initial public offering (IPO) that raised $370 million.In early trading, the stock, symbol PHX, started at 2.20 United Arab Emirates dirhams ($0.60), increased to 2.25 dirhams ($0.6), and then declined With orders totaling about $12 billion, the #IPO was 33 times oversubscribed. The estimated post-IPO valuation of Phoenix Group is $2.5 billion.The #crypto mining company's stock price increase on the ADX exchange indicates that investors are confident in the company's future and that the market is responding favourably to it. The Phoenix Group will use the IPO proceeds to finance its continued expansion and provide investors with profitable returns. The company has also established strategic partnerships and investments. For example, in October, it signed an agreement to construct a $300 million #cryptocurrency mining farm in Oman, and Abu Dhabi's International Holding Company purchased a 10% share in Phoenix Group.

Initial Farm Offering (IFO) is a fundraising model that helps new DeFi projects raise capital by participating in pre-sales events hosted after stern project vetting by decentralized exchanges.

IFO is a successor of the initial coin offering (ICO), a crowdsourcing method used by cryptocurrency projects to raise funds in the early stages. 

Investors can participate in a pre-sale event that is hosted by the DEX, raising the capital necessary for available projects by investing in native tokens. DEX teams usually prepare a proposed list of the most lucrative projects to launch in the farming event. However, it is worth considering that the tokens acquired via IFO have no clear advantage over those raised through other fundraising models. Despite proper scrutiny by the DEX teams, the value of the token can be affected by the market sentiments.

The most common platform for IFO is PancakeSwap, the users of which can benefit directly from the fundraising. These users are entitled to rewards while the owners of new projects can benefit from the liquidity pool offered by the platform. Most of these tokens are community-driven with little to no control by a specific central authority.

There are two common types of IFO events:

Unlimited Sale: By paying a predetermined fee, the user can stake as many BNB and CAKE tokens as they can.

Basic Sale: A defined number of tokens can be staked and the users are not charged a participation fee.

To be part of an IFO, the first step is to set up an account on any of the DEXs that support this feature. Users then stake CAKE or BNB tokens (according to the participation terms) to take part in the IFO. They must provide liquidity for the farming process. By the end of the process, those users are rewarded with such tokens.

The following are some benefits that could be enjoyed by IFO users:

Elimination of the middle-man. Peer-to-peer transactions are stimulated on the IFO platform, allowing users to save money in the long run even if they are novices in the world of crypto.

IFO maximizes the benefits of trading on DEXs, especially for those who are new to crypto. 

Project fundraising is safe via IFO platforms because of the dual-margin intention.

The decentralization keeps all the transactions and activity transparent for users and investors.

Like all other fundraising events, it is better that each user research the one that suits them the best. However, do your own research properly before investing in any token and keep the factor of volatility in mind. The preceding fundraising models, especially ICO, were heavily reliant on VCs, which meant greater time consumption and unreliable gains. However, being relatively new in comparison to ICO and IEO, some users might not be confident about opting for IFO — but the trend of DeFi may tilt the focus of the market towards IFOs.

#IFO #IPO #ICO #IGO #IDO $ETH $BNB $BTC

Post By: CryptosHeadlines.com

Circle, the firm behind the widely-used USDC stablecoin, is contemplating a public listing by early 2024. This move follows the company’s valuation reaching $9 billion during a previous attempt at an IPO in 2022.

While these plans are still in their initial stages, they underscore Circle’s long-term vision of becoming a publicly traded company in the United States.
Becoming a US-listed public company has been a part of Circle’s strategic goals. A Circle representative stated, “We don’t comment on rumors.”
This decision signals a shift in the company’s strategy, as discussions about an IPO emerge shortly after Circle terminated a merger agreement with Concord Acquisition.
Circle’s Backing and Transparency Ahead of IPO
Circle enjoys substantial financial backing from influential investors like Goldman Sachs, General Catalyst Partners, BlackRock, Fidelity, and Marshall Wace. In a 2022 funding round, they raised approximately $7.7 billion.
As the issuer of the USDC, Circle plays a pivotal role in the crypto sector, facilitating large-scale global transfers of digital assets. To enhance their risk management measures, they recently onboarded a former Goldman Sachs executive.
The path to an IPO is coupled with a strong commitment to transparency. The company plans to regularly release financial reports and has chosen Deloitte as its auditor.
However, Circle’s journey toward becoming a U.S.-listed company may face challenges due to the evolving regulatory landscape surrounding stablecoins in the United States.
Federal Reserve Vice Chair for Supervision, Michael Barr, has recently advocated for regulatory oversight of stablecoin issuers, emphasizing the necessity of U.S. central bank supervision and urging Congress to establish regulatory frameworks expeditiously.
This heightened scrutiny is prompted by concerns about unregulated capital inflows into private digital tokens pegged to fiat currencies, primarily due to apprehensions related to potential money laundering.
Important Note: Cryptosheadlines.com neither supports nor assumes responsibility for the content’s accuracy, quality, advertising, products, or any other materials featured on this page. It is advisable for readers to conduct their independent research before making any cryptocurrency-related decisions. Cryptosheadlines.com holds no direct or indirect liability for any harm or loss, whether actual or claimed, arising from the utilization or reliance on any content, goods, or services referenced herein. Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#CryptoMarket #Bitcoin #CryptoNews #Circle #IPO

Kraken, a popular cryptocurrency exchange, is preparing for a potential IPO in 2025. According to Bloomberg News, Kraken plans to raise $100 million through a final funding round later this year to support support its IPO ambitions.

🔍 Looking for strategic partnerships:
The exchange is said to be looking for a prominent company to join its board and help organize the IPO. While discussions with potential partners are still ongoing, they have only made verbal exchanges on terms and valuation with no formal documentation. Kraken has not officially confirmed IPO plans but emphasized its focus on accelerating global cryptocurrency adoption.