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Business Wire
a day ago
- Business
- Business Wire
Ionic Digital Issues Open Letter to Stockholders to Deliver Essential Facts Ahead of Annual Meeting
AUSTIN, Texas--(BUSINESS WIRE)--Ionic Digital Inc., (the 'Company' or 'Ionic'), an emerging innovator in digital infrastructure and bitcoin mining, today issued an open letter to stockholders to provide them with important information to enable them to make fully informed voting decisions regarding the two Class I seats up for election at the Ionic Digital Annual Meeting of Stockholders on July 2, 2025 (the 'Annual Meeting'). Specifically, the Company's Board of Directors and management shared its commitment to executing its strategic initiatives, the importance of experienced Board Members, and the focus on providing realistic near-term liquidity solutions that maximize stockholder value. The full text of the letter can be found below, or by visiting Dear Ionic Stockholders, The Board and management team understand and sympathize with the concerns of stockholders regarding liquidity and want to provide stockholders with important information to make fully informed decisions regarding the two Class I seats up for election at the Ionic Digital Annual Meeting of Stockholders on July 2, 2025. We believe the considerable progress made on our strategic initiatives will best position the Company to provide a value-maximizing liquidity solution for Ionic stockholders in the near future and remind stockholders to not be distracted by the disruptive efforts of non-stockholders that might delay such efforts for their own purposes. During this period, it is critical to have Board Members with the wide range of professional experience and expertise required to guide the Company as it seeks to achieve its objectives; Ms. LaPuma is the only nominee with decades of professional experience in capital markets, corporate finance, and corporate transformation, making her uniquely qualified to serve as a Director and provide stockholders with liquidity solutions. The Board believes that Nominating Stockholders, Veton Vejseli, Brett Perry, and Christopher Villinger (the 'Nominating Stockholders') and their non-stockholder financial backers, Mike Cagney, his company Figure Markets and a co-founder of GXD Labs, have personal interests that may conflict with the interests of other Ionic stockholders. More specifically, Mr. Cagney is intent on listing Ionic common stock on Figure Markets' unproven Alternative Trading System ('ATS') and has enlisted Mr. Vejseli, Mr. Perry, and Mr. Villinger to nominate Michael Abbate, a Figure Markets shareholder and former Chief Investment Officer of Figure Markets, for election to Ionic's Board, a direct conflict of interest, which Mr. Vejseli has publicly acknowledged during recent testimony in the Delaware Court of Chancery: 'Look it's not [a] secret that Mike Abbate, one of Figure Markets' employees, is one of our nominees for the Board. So, there's an obvious assumed interest…'—Veton Vejseli 5/8/25 Additionally, we believe Oliver Wiener, also a director candidate proposed by the Nominating Stockholders, cannot be trusted to serve on the Company's board as he is a former advisory board member to FTX prior to its catastrophic collapse and led an investment in FTX while he was a Portfolio Manager at Standard Industries, displaying his track record of inadequacy in assessing investment risks. Ionic warns stockholders to not be deceived by the self-serving interests of non-stockholders who seek to undermine the considerable progress made on the Company's strategic initiatives to advance their own commercial interests at the expense of Ionic stockholders. We Remain Committed to Executing our Strategic Initiatives with a Focus on Sustainable, Long-term Value Creation: In the first five months of 2025, Ionic has mined approximately 709.8 BTC before hosting fees, at a daily average hash rate of 8.50 EH/s, and held approximately 2,520.2 BTC on its balance sheet as of May 31, 2025 Retained leading investment banking, accounting, tax, and legal advisors to assess and pursue strategic, operational and financial alternatives to provide stockholder liquidity, and maximize stockholder value Expects to provide FY 2024 financial results during the week of June 23, 2025, and to aggressively push to realize a pathway to liquidity for stockholders promptly thereafter Maintained zero-debt position while continuing to invest in infrastructure upgrades and exercised diligent risk management Fully energized 234-MW Cedarvale facility and actively engaged in robust marketing process to lease the facility Therefore, the Board unanimously recommends that stockholders vote FOR the Company's highly qualified nominee, Elizabeth LaPuma, on the WHITE proxy card and IGNORE the GOLD proxy card. YOUR VOTE IS IMPORTANT! If you have questions about the Annual Meeting or how to vote your shares, please contact Innisfree M&A Incorporated by calling (877) 750-2689 (toll free from the U.S. or Canada) or +1 (412) 232-3651 (from other countries), or visit Thank you for your continued support. Sincerely, /s/ Anthony McKiernan Anthony McKiernan Interim Chief Executive Officer /s/ Thomas DiFiore Thomas DiFiore Director /s/ Scott Duffy Scott Duffy Director /s/ Scott Flanders Scott Flanders Director /s/ Elizabeth LaPuma Elizabeth LaPuma Chair About Ionic Digital Ionic Digital is a prominent Bitcoin miner and emerging innovator in energy monetization. With facilities across the United States and more than 110,000 active miners, Ionic expects to drive the next generation of energy efficient, low-cost computing through sustainable Bitcoin mining. For more information, visit and follow us on X at @IonicDigital.
Yahoo
28-05-2025
- Business
- Yahoo
Connamara Technologies EP3® Powers Innovative DeFi Market for Figure Markets
AUSTIN, Texas, May 28, 2025 /PRNewswire/ -- Connamara Technologies, the leader in fully-integrated end-to-end exchange technology, is pleased to announce that its EP3® exchange infrastructure solution is the technology choice of Figure Markets, a leader in decentralized finance. Figure Markets successfully launched its innovative DeFi marketplace on March 20, 2024. Figure Markets is Building the Exchange for Everything Figure Markets is democratizing finance through the blockchain by building an exchange for everything - a decentralized custody marketplace for crypto, stocks, bonds, credit and more. The exchange combines leverage, margining, and liquidity with extensive borrowing options and unique investment opportunities. Decentralized custody ensures that exchange members have control of their own assets and data. In February 2025, Figure Markets launched the first interest-bearing transferable stablecoin (YLDS) native to a public blockchain, registered with the Securities and Exchange Commission. EP3 is Powering a New Breed of Exchanges EPS is a cloud-first, end-to-end exchange and clearing solution seamlessly integrating all key functions into a single, robust platform, including market access, market-data distribution, order matching and execution, exchange operations and administration, risk management, market surveillance, regulatory reporting, clearing, and settlement. It is purpose-built for the next generation of exchanges and marketplaces, with technology that is quick-to-market, cost-accessible, and easily adaptable to traditional asset classes as well as new asset classes. These include equities, futures, crypto, tokenized assets, events, sports, and more. EP3 is powering exchanges around the globe, including predictions exchange ForecastEx (a wholly-owned subsidiary of Interactive Brokers), Brazilian tokenized equities exchange BEE4, and digital assets infrastructure platform ZeroHash. Figure Markets Head of Product - Exchange Randy Myers: "We're impressed by Connamara's ability to meet our exacting requirements with EP3 and deliver customized exchange technology tailored to our self-custody model. As Figure Markets expands its product offerings and customer base, we expect to lean on EP3 to help accelerate our growth." Connamara Technologies CEO Jim Downs: "It's a privilege to work with the team at Figure Markets. They are a team of professionals that are bridging the gap between DeFI and TradFi. We are grateful for their trust. We've enjoyed the challenge of working together to build this exciting new marketplace and look forward to witnessing their continued success." About Connamara Technologies and EP3 Connamara Technologies is the only provider of end-to-end, cloud-first fully-integrated exchange infrastructure technology, empowering new and existing exchanges to operate with exceptional efficiency and reliability via its EP3 exchange and clearing platform. Engineered for the evolving needs of the next generation of exchanges and marketplaces, EP3 is shaping the future of financial markets. About Figure Markets Figure Markets is democratizing finance through blockchain. The company is building the exchange for everything - a decentralized custody marketplace for crypto, stocks, bonds, credit, and more. By offering best-in-class leverage, margin trading, and liquidity, Figure Markets provides members with extensive borrowing options and unique investment opportunities. With its decentralized custody exchange, it puts members in control of their own assets and data, disintermediating legacy brokers, exchanges and lenders. Figure Markets is backed by leading venture capital firms and strategic partners, including Jump Crypto, Pantera, Distributed Global, Faction Lightspeed, NewForm Capital and CMT Digital. Figure Markets was founded by a seasoned team of entrepreneurs and operators from TradFi, fintech, and DeFi, including Mike Cagney and June Ou. This press release shall not constitute an offer to sell or a solicitation of an offer to buy the foregoing securities. Registration with the SEC means that the SEC has made the offering effective. The SEC has not approved or disapproved these securities, nor have they passed upon the accuracy or adequacy of this offering. For more information about Figure Markets, visit For more information about Connamara, visit View original content to download multimedia: SOURCE Connamara Technologies
Bloomberg
20-05-2025
- Business
- Bloomberg
Yield-Bearing Stablecoins Challenge Dominance of Tether, Circle
Even as they look increasingly likely to be shunned under new US regulations, a rapidly growing crop of stablecoins that pay interest to holders is emerging as a threat to market leaders Tether Holdings SA and Circle Internet Group Inc. Issuers including Spark Protocol and Figure Markets promise to share interest income generated by their stablecoins with users, turning the tokens from a blockchain-based means of transfer into something more akin to a savings product. The market share of such instruments has more than trebled to over $13 billion since late 2024, according to JPMorgan analysts. They already account for more than 6% of the $243 billion stablecoin space and could claim as much as half of it if they maintain their current trajectory, the analysts added.
Yahoo
28-02-2025
- Business
- Yahoo
Blockchain is at 'tipping point' as tradfi moves in: Mike Cagney
Bitcoin (BTC-USD) saw a sharp decline since its all-time high in January 2025 but has since rebounded back above $84,000. At Bitcoin Investor Week in Manhattan, Figure Markets founder and CEO Mike Cagney shares his perspective on the ongoing cryptocurrency market fluctuations with Yahoo Finance Executive Editor Brian Sozzi. Cagney emphasizes that the recent bitcoin price dip is part of normal market volatility. "I don't put too much stock in terms of what's happened. It's just typical bitcoin volatility," Cagney says, adding that the crypto market's fundamentals are improving despite short-term setbacks. When discussing the industry's future, the SoFi (SOFI) co-founder and former CEO highlights the increasing involvement of traditional finance in blockchain technology: "Look, I think we're at a tipping point in particular where we're going to see a lot of TradFi move into blockchain finally." Also catch Yahoo Finance's full interview with SEC Commissioner Hester Peirce. "I think with a lot of regulatory clarity that's going to come through this year, you're going to see a lot of traditional entrants, especially within the bank and financial services sector, come into blockchain in a serious way, and it's supportive for the whole ecosystem," Cagney explains. Additionally, Cagney notes the long-term potential of blockchain incorporation, predicting that in 'the next four years, you're going to see real innovation. Real transformation,' and asserts that the current market is fundamentally different from past crypto winters. Also catch Yahoo Finance Executive Editor Brian Sozzi sit down with Professional Capital Management founder and CEO Anthony Pompliano at Bitcoin Investor Week to discuss the digital asset's volatile nature. To watch more expert insights and analysis on the latest market action, check out more Wealth here. This post was written by Josh Lynch Sign in to access your portfolio
