Ed D - Crypto Investor 11-07-2022
Marginfi, a first-of-its-kind cross-margining engine on the Solana blockchain, will be developed with the help of Mrgn Labs' $3 million seed round capital. Marginfi will offer the services while adopting the DeFi philosophy.
Multicoin Capital and Pantera Capital co-led the Marginfi fundraising event. Solana Ventures and Sino Global Capital, two venture capital firms, also took part. Aside from venture funding, angel investors made a significant contribution.
Edgar Pavlovsky, the founder of Mrgn Labs, explained:
We saw an avalanche of innovative financial solutions develop throughout Defi in 2021. The issue is that the cryptocurrency investment and trading experience has become increasingly fragmented across many protocols, reducing capital efficiency and preventing crypto traders from consolidating their coin holdings into a single account.
Along with bringing a cross-margining engine to life, Marginfi wants to introduce "institutional-grade margining" to the DeFi ecosystem. Multicoin Capital executive Kyle Samani is ecstatic about the company's revolutionary DeFi proposition.
He also expressed his enthusiasm for the arrival of the DeFi sector's next-generation protocol. He's also taken aback by Marginfi's decision to construct a world-class cross-margining engine on Solana rather than on other blockchains.
Composability is the most essential subject for 2022. Alongside crypto buying platforms, Marginfi and other essential composable primitives will be used in the next generation of defi projects to provide experiences that has never been possible before with crypto market investments.
Multicoin Capital has a second supervision to whitelist additional institutions with a target of $1 billion going via Marginfi by the end of 2022, on top of how Samani thrilled.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards