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Scrut Automation raises $10M in growth capital from Lightspeed and MassMutual Ventures to accelerate growth in North America

Scrut Automation

GRC platform Scrut Automation announced today that it has raised $10 million in growth capital from existing investors Lightspeed, MassMutual Ventures and Endiya Partners. The Scrut Automation team will use the funding to enhance their platform capabilities, incorporate generative AI use cases to reduce the manual effort for risk and compliance teams and expand to North American and European markets. With this round, the company has now raised $20.5 million in total venture funding since its inception in 2021. Scrut Automation was created to address the unique risk and compliance challenges faced by tech-first mid-market businesses in highly regulated industries. These companies grapple with stringent compliance requirements from regulators and industry bodies, and mounting pressure to keep risk under the threshold, but are often hindered by limited budgets and understaffed teams. Moreover, a rapidly evolving threat landscape, accelerated by the adoption of generative AI, massive layoffs in cybersecurity teams, and the counter-intuitive, yet very real increasing skill gap in cybersecurity further exacerbate the problem for the teams. “Mid-market organizations have limited options,” says Aayush Ghosh Choudhury, Co-founder and CEO of Scrut Automation. “They can buy off-the-shelf compliance automation tools that offer a one-size-fits-all approach to compliance, disconnected from the organizational risks; or invest in expensive enterprise-grade tools with year-long implementation and underutilized features.” Scrut Automation provides a third option for companies that seek to build scalable GRC programs aligned with the organization’s goals, risks, and resources. Scrut helps companies consolidate their compliance and risk management processes while contextualizing their risks, reducing duplication of effort, and automating control monitoring. “A core USP for Scrut is offering an extremely high degree of flexibility in creating GRC programs that fits closely with the customer’s environment. For example, a financial services company in the lending space will have very different regulations, compliance frameworks, and risks from a healthcare services company for hospitals. Scrut accounts for this context - as the platform adapts seamlessly to these differences. Scrut has also built practice areas for regulated industries like healthcare, financial services, and enterprise software, that allow the platform to embed expertise in addition to automation,” added Aayush Ghosh Choudhury. The Scrut platform pairs this configurability with deep automation capabilities and a proprietary unifying control framework. Integrating across a growing library of 75+ products, Scrut automates tests across more than 70% of the controls, reducing manual effort in chasing control owners and capturing evidence. This enables GRC teams to get near-real time visibility into their risk and compliance posture, enabling them to take corrective action on time. The unifying control framework ties the organization’s controls to compliance requirements, which eliminates the duplicate effort required to demonstrate compliance with different frameworks. Scrut customer Keshav Kumar, Data Protection Officer at VWO said: “Over the last financial year, we entered new geographies and industries, which were key drivers for our rapid growth. Our compliance requirements grew at a similar pace. Sourcing information across stakeholders, through multiple Google sheets, slack channels, and emails for compliance is an arduous job, something we don’t have to worry about since implementing Scrut.” As Scrut continues to grow, it aims to help mid-market companies build strong risk and compliance management practices with reduced dependency on human capacity and expertise, through an AI-first GRC concierge. "A strong security posture has always been a core need for large enterprises globally. Given the increase in the number of breaches and attacks over the past few years as well as increase in regulatory compliance requirements, mid-size enterprises are now adopting strong Governance, Risk, and Compliance (GRC) practices. Scrut's user-friendly and market-leading platform reduces this burden for security and GRC teams. We are happy to reaffirm our commitment to supporting the Scrut team." says Dev Khare, Partner at Lightspeed. Scrut Automation has been recognized by G2, a social software review platform, on their 2024 lists for fastest-growing products and best security software. “Legacy GRC products are built for enterprises, but fail to meet the needs of high-growth tech-first companies,” says Anvesh Ramineni, Managing Partner at MassMutual Ventures. “ Scrut Automation is built specifically to cater to their needs and addresses their pain points seamlessly. We're excited to support Aayush, Jayesh, Kush, and the Scrut team in building one of the fastest-growing GRC platforms globally.” Prior to Scrut Automation, co-founders Aayush Ghosh Choudhury and Jayesh Gadewar were building a procurement suite, where they spent months trying to fulfill the risk and compliance needs of their enterprise customers. Recognizing this widespread pain, they teamed up with Kush Kaushik, their third co-founder, who was helping them navigate the challenging terrain of compliance, to build Scrut Automation. With Scrut Automation, they have helped over 800 customers worldwide build enterprise-grade GRC programs. The company has also added angels and advisors from SaaS and cybersecurity sectors, including Sandeep Johri (CEO, CheckMarx), Sachin Lawande (CEO, Visteon), Vetri Vellore (Ex-Corporate VP at Microsoft), Naresh Agarwal (Head of India R&D for Traceable), Davis Hake (Co-founder, Resilience) and Todd Dekkinga (CISO, Zluri), to name a few. About Scrut Automation Scrut Automation is a SaaS-based Governance, Risk, and Compliance (GRC) platform that enables risk and compliance teams to establish scalable security controls and processes, and automate workflows seamlessly. By consolidating processes and eliminating the need for multiple legacy platforms and spreadsheets, Scrut Automation provides complete visibility into organizational risks, reduces compliance workloads, and simplifies audits. For more information, visit https://www.scrut.io/ About Lightspeed Lightspeed is a global multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Affirm, Acceldata, Carta, Cato Networks, Darwinbox Epic Games, Faire, Innovaccer, Guardant Health, Mulesoft, Navan, Netskope, Nutanix, Rubrik, Sharechat, Snap, OYO Ultima Genomics and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. www.lsip.com About MassMutual Ventures MassMutual Ventures (MMV) is a multistage global venture capital firm investing in financial technology, enterprise SaaS, healthtech, climate technology and cybersecurity companies. With teams based in London, Singapore, and Boston, MMV manages over $1 billion in investment capital across the globe. We help accelerate the growth of the companies we partner with by providing capital, connections, and advice. With our deep expertise and extensive network, MMV helps entrepreneurs build compelling and scalable companies of value.. For more information, visit https://www.massmutualventures.com/ About Endiya Partners Endiya Partners is an early-stage venture capital firm with a proven track record of investing in scalable product startups. With a deep understanding of their domain and vast experience in entrepreneurship and operations, the Endiya team plays a major role in developing scalable businesses. The firm’s notable portfolio consists of multiple category-creating companies, including Darwinbox, Cult.fit, Kissht, SigTuple, Zluri, Qapita, Eyestem, Sugar.fit, Mylo, Scrut Automation, Steradian Semiconductors, Karkinos, Grip Invest, Myelin Foundry, and BluJ Aerospace. Founded in 2016, Endiya Partners has $100M under management. For more information, visit: https://endiya.com/ Contact Details Scrut Automation Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.scrut.io/

April 02, 2024 09:00 AM Eastern Daylight Time

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Sonrai Security Launches Industry's First Cloud Permissions Firewall for AWS, Azure, and Google Cloud

Sonrai Security

Sonrai Security, a leader in cloud security solutions, today unveiled the launch of the industry's first Cloud Permissions Firewall for AWS, Azure, and Google Cloud. This groundbreaking technology revolutionizes cloud access and permissions security, offering a seamless one-click least privilege solution with zero disruption for cloud operations and development teams. Sonrai's Cloud Permissions Firewall transforms the complex landscape of cloud access and permissions security into a streamlined process with just one click. By leveraging sensitive access and permissions intelligence, the Sonrai Cloud Permissions Firewall identifies and determines the necessary access or rights required for running workloads in the cloud. It then instantaneously blocks unnecessary and risky access to cloud services and permissions across the entire cloud estate. Development is uninhibited with automated exceptions for needed access and a frictionless permission-on-demand workflow that supports permission expansion as needed. Between AWS, Azure and GCP, there are over 42,000 possible permissions, with new permissions added daily. Thousands of permissions can be leveraged to do damage – including exposing data, nefarious entry, privilege escalation and lateral movement. As companies scale their clouds, unused sensitive access and privileges balloon, leaving gaping security holes. The Sonrai Cloud Permissions Firewall closes these holes instantly. “We have worked with companies and developers tasked with 1000’s of extra things to fix in their code, and it’s not working to solve this pressing security problem or privilege and access bloat,” said Brendan Hannigan, CEO and co-founder of Sonrai Security. “We knew there was a better option than just another ‘visibility tool’ – The Cloud Permissions Firewall delivers action that automatically closes these security vulnerabilities with zero-disruption to ongoing operations.” The Cloud Permissions Firewall delivers: 92% reduction in the cloud permissions attack surface 97% time saved accomplishing least privilege 100% protection of new identities “The challenge about deleting unused identities or enforcing least privilege is we know it's the ‘right’ thing to do, but everyone’s afraid it’ll break something or interrupt our development cycles,” said Preetam Sirur, Chief Information Security Officer of Eye Care Leaders. “However, the assurance the Cloud Permissions Firewall brings us has eliminated our hesitations. Now we just deploy – confidently.” The Cloud Permissions Firewall will be generally available on April 15th for AWS. Azure and GCP will soon follow. To learn more, join our webinar on April 16th and sign up for a free trial today. About Sonrai Security Sonrai Security is a leading public cloud identity and access management solutions provider. With a mission to empower enterprises of all sizes to innovate securely and confidently, Sonrai Security delivers identity, access, and permissions security for companies running on AWS, Azure, and Google Cloud platforms. The company is renowned for pioneering the Cloud Permissions Firewall, enabling one-click least privilege while supporting developer access needs without disruption. Trusted by leading companies across various industries, Sonrai Security is committed to driving innovation and excellence in cloud security. Sonrai Security has offices in New York and New Brunswick, Canada and is backed by ISTARI, Menlo Ventures, Polaris Partners, and TenEleven Ventures. For more information, visit https://sonraisecurity.com/ Contact Details Sonrai Security Press@SonraiSecurity.com Company Website https://sonraisecurity.com

April 02, 2024 09:00 AM Eastern Daylight Time

BridgeFT Achieves SOC 2 Type II Certification for WealthTech-as-a-Service Platform

BridgeFT

BridgeFT, a cloud-native, API-first wealth infrastructure software company that enables financial institutions, fintech innovators and registered investment advisors (RIAs) to deliver better, data-driven outcomes for their clients, announced today that it has successfully completed its SOC (System and Organization Control) 2 Type II audit. Developed by the American Institute of Certified Public Accountants (AICPA), a SOC 2 information security standard is a report that validates controls relevant to security, availability, integrity, confidentiality, and privacy. The SOC 2 Type II certification ensures service providers meet a standard degree of security control in areas including organization and management, communications, risk management and monitoring of controls. The audit was completed with the help of Johanson Group LLP, a premier certification body helping organizations to obtain and maintain global compliance standards. Johanson Group attested to BridgeFT’s information security controls meeting the leading industry standards for financial services. Throughout the process, Johanson Group measured the availability, security, and integrity of BridgeFT’s WealthTech API and its data processing systems to ultimately determine whether effective safeguards and controls are in place. SOC 2 has a rigorous requirement on how companies handle customer data and information, and it is considered one of the highest standards for security accreditation. With this achievement, BridgeFT maintains its adherence to one of the most stringent, industry-accepted compliance frameworks for service organizations and provides additional assurance to its clients, through an independent auditor, that its business process, information technology and risk management controls are properly designed and operating as intended. “Achieving SOC 2 compliance is a major milestone for our company and an important indicator of how seriously we take data security,” said BridgeFT Chief Executive Officer Joe Stensland. “We’re committed to delivering the highest level of data security and privacy, and SOC 2 is a key part of that commitment. We’ll continue to invest in our modern, API-first platform infrastructure to ensure that our clients can trust us with their most sensitive data” BridgeFT’s WealthTech API is the industry’s first WealthTech-as-a-Service platform, offering a robust and open API to AI and trade-ready, multi-custodial data, advanced analytics and application services. BridgeFT’s WealthTech API empowers clients to reimagine the potential of their financial data and technology stack by eliminating the need for individual data feeds from a range of custodians and back-office providers, allowing wealth management firms and fintech companies to create differentiated, next-generation applications. About BridgeFT BridgeFT is a cloud-native, API-first WealthTech infrastructure platform that enables registered investment advisors (RIAs), financial institutions, and FinTech innovators to deliver better, data-driven outcomes for their clients. More than 300 leading firms trust BridgeFT to automate critical back-office operations and power their digital wealth management ecosystems—seamlessly aligning essential wealth data, proactive client insights and reporting, and portfolio management automation to deliver a truly personalized client experience. From an integrated advisor platform to flexible, open APIs, BridgeFT delivers the infrastructure needed for success. Reimagine your approach to wealth infrastructure at bridgeft.com. Contact Details Media media@bridgeft.com Company Website https://www.bridgeft.com/

April 02, 2024 09:00 AM Eastern Daylight Time

Atlas Lithium (NASDAQ: ATLX) Secures Game-Changing $30,000,000 Strategic Investment From Mitsui & Co.

Benzinga

By Faith Ashmore, Benzinga Atlas Lithium Corporation (NASDAQ: ATLX) has announced the signing of definitive investment and offtake agreements with Mitsui & Co., Ltd., a $70 billion Japanese conglomerate that boasts Warren Buffett as a major shareholder, which Atlas Lithium considers to be a strong recognition of its project and team. Importantly, Mitsui agreed to purchase $30,000,000 in common shares of Atlas Lithium at a 10% premium. In addition to the direct investment in Atlas Lithium, Mitsui has also entered into an Offtake Agreement for 15,000 tons of lithium concentrate from Phase 1 and 60,000 tons per year for five years from Phase 2 of Atlas Lithium’s upcoming production of lithium concentrate from its 100%-owned Neves Project in Brazil’s Lithium Valley. The strategic investment will provide immediate funding to Atlas Lithium to continue the development of their project and focus on revenue generation with the production and sale of high-quality, low-cost, and environmentally friendly lithium concentrate. “Today marks a significant milestone for Atlas Lithium as we progress towards our goal of becoming a key lithium supplier to the global EV (electric vehicle) battery materials supply chain. Mitsui’s investment reflects confidence in our team, assets, and business model,” shared Marc Fogassa, CEO and Chairman of Atlas Lithium. “I am honored and humbled to be here in Tokyo signing this historical agreement for Atlas Lithium that will undoubtedly result in great value creation for our shareholders. I have watched the relationship of our companies grow and I believe that this partnership with Mitsui strengthens Atlas Lithium substantially,” added Marc Fogassa. Mitsui and Atlas Lithium have been working closely since entering into a Memorandum of Understanding disclosed in January 2023. Mitsui executives and technical experts have conducted multiple visits to Atlas Lithium’s project to perform due diligence, and Atlas Lithium’s management has visited Mitsui’s offices in Brazil, the United States, Canada and Japan. The partnership marks the culmination of the mutual interest of both companies in growing Atlas Lithium. The additional financing from Mitsui will support Atlas Lithium's development, leading to the operation of an open-pit lithium mine and spodumene concentrating facility by the fourth quarter of 2024. Mitsui has had a strong presence in Brazil since 1960 and has a long-established history of profitable mining investments in the country. Why Is Brazilian Lithium Attracting Attention From Investors? With the increasing global demand for lithium, the development of new lithium projects in regions with large reserves is crucial for meeting the growing needs of the electric vehicle and renewable energy industries. For many investors, Brazil’s Lithium Valley is shaping up to be the most promising up-and-comer given that Brazil holds what has been estimated to be the 5 th largest lithium reserves in the world. Brazil's Lithium Valley, located in the Jequitinhonha Valley in Minas Gerais state, holds significance in the global lithium market. The region is attracting attention due to its abundant lithium reserves and potential for expansion. Brazil’s sources of lithium are hard rock granitic pegmatites, known for their high concentrations of lithium-containing minerals. Among these minerals, spodumene and petalite are the most valuable. Spodumene, in particular, stands out as the most economically feasible lithium source, and Brazil’s Lithium Valley is establishing itself as a premier global district for spodumene. This is one of the reasons mining companies like Atlas Lithium and their investors are flocking to the region. According to Marc Fogassa, the CEO and Chairman of Atlas Lithium, the U.S. mineral exploration company is set to become the second producer of high-grade lithium concentrate in the Jequitinhonha Valley in Minas Gerais. Atlas Lithium aims to supply high-quality hard-rock spodumene from ESG-friendly production. Fogassa mentioned that the company has garnered interest from various companies in Japan, China and the U.S., prompting his trip to Asia late last year which has now resulted in the partnership with Mitsui. Featured photo courtesy of Atlas Lithium. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

April 02, 2024 08:50 AM Eastern Daylight Time

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Helping Build A Sustainable Future For Construction Materials – Sky Quarry’s Innovative Approach To Recycling Shingles, Recovering Oil

Benzinga

By Jeremy Golden, Benzinga The structures protecting homes and commercial buildings are significantly contributing to global pollution levels, causing some experts to sound the alarm and call for more sustainable construction materials. Roofing waste is one of the top four construction or demolition materials discarded in landfills, with about 15 million tons of asphalt shingles ending up there annually. When dumped in landfills, shingles can take as long as 300 years to degrade and decompose to base elements. Asphalt shingles are North America's most popular roofing material due in part to their durability and low cost. Nearly six million U.S. homes are reroofed annually, sending asphalt roofing shingles to landfills for disposal. A cleantech company called Sky Quarry, Inc. is actively paving the way toward a potential multi-billion dollar solution for this ongoing waste asphalt shingle (WAS) problem. The company says it plans to revolutionize the construction materials industry by offering a sustainable path forward. A Growing Industry Though the COVID-19 pandemic had an impact on the construction market and its labor force, the industry is back on track, Fortune Business Insights reports. Valued at more than $1,320 billion in 2023, the global construction materials market size is expected to grow to $1,867 billion by 2032. That growth, driven in part by urbanization, is tied to the overall industry outlook, which forecasts more demand for infrastructure investments in residential and commercial projects. Government-sponsored projects are also expected to be a demand driver. Meanwhile, the roofing market in the U.S. was worth $27.46 billion in 2023 and is expected to grow to $42.66 billion by 2033. Construction activities in the United States make up about 4% of the country’s GDP, making the construction material industry an important economic driver. The materials industry, however, is faced with many environmental concerns, and the impact of these materials is increasingly being taken under consideration as the sector grows. The U.S. is poised to run out of room in landfills by 2036; thus, waste will have to be transported further and further out. Construction and demolition waste accounts for over 39% of global carbon emissions, so it is under increasing pressure to become more sustainable as the world population is expected to reach close to 10 billion by 2050. This will cause the demand for housing, office space and other developments to increase. When it comes to roofing specifically, asphalt shingles are valued for their affordability and ease of installation. With a production process that involves the extraction and refining of crude oil, however, asphalt shingles contribute to air and water pollution and have a relatively short lifespan, leading to frequent replacements that generate a considerable amount of waste in landfills. As a result, there is a growing need for sustainable construction methods that minimize environmental impact, as also evidenced by a recent study. Raising awareness among construction stakeholders and the public about waste management and recycling benefits is not only essential for the environment – recyclable products also offer economic and financial benefits. Sky Quarry’s Solution – Targeting Sustainability And Profitability Adopting a more thoughtful approach throughout the construction lifecycle can go a long way in alleviating the environmental issues caused by construction. Sky Quarry, founded to solve the problem created by waste asphalt shingles, does so by utilizing technologies that facilitate the recycling of WAS and remediation of oil-saturated soils. The company says its Waste-to-Energy Solutions convert toxic waste into sustainable oil – recycling finite materials, decreasing landfill waste and reducing harmful emissions in the process. Sky Quarry estimates that with shingles comprised of 25% bitumen oil, plus 9 million tons of sands, aggregate, and other construction solids, this waste stream is the equivalent of dumping 20 million barrels of oil into landfills every year. As such, the company reports that almost all of its revenue from WAS-recovered oil goes straight to the bottom line – marking a key revenue stream beyond the $15-$60 per ton recycling fees paid by waste haulers. Sky Quarry’s Bitumen Extraction Technology feeds post-ground WAS into a mixing bin with the company’s proprietary solvent. WAS is ground into coarse granular chunks, and the nails are removed before the WAS and solvent mixture is agitated into a fluid slurry that dissolves the asphalt bitumen. The solvent makes solids sink while the separated bitumen and solvent mixture rises. The remaining fluid is heated to separate the solvent from the oil, and the clean bitumen flux is sent to storage tanks. The solvent is captured for reuse. Sky Quarry’s Offset Program – Recycling Asphalt On Behalf Of Homeowners Furthering its ability to assist in the industry’s WAS woes, Sky Quarry's Offset Program aims to lessen the footprint of re-roofing projects, ensure waste diversion in line with circular economy principles, while allowing homeowners to reduce their environmental footprint effortlessly. Simply put, Sky Quarry will recycle asphalt shingle waste on homeowners’ behalf. Homeowners can go to the company’s online store and buy the offset for any home in the U.S., with the fees being used to fund the recycling of the exact amount of tonnage that the homeowner is landfilling. “Sky Quarry is proud to be an innovator in the roofing industry – leading the charge for reducing the damage inflicted by depositing these shingles into landfills,” CEO David Sealock said. “This offset program is a unique and valuable way that homeowners can have a beneficial impact on the environment today. In the future, Sky Quarry intends to create a collection network for shingles that spans the US. But in the meantime this offset program is a unique solution as we build out our system.” A leader in the industry, Sky Quarry is proving its skill at bridging sustainability and technology, delivering both environmental and societal benefits to multiple industries. For more information on the company and its Offset Program, visit skyquarryoffsetstore.com. Featured photo by Brizmaker on Shutterstock. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. Disclosure: This is a paid advertisement and the post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. For additional information on the company and risk factors related to the company and its current offering please read the company's offering circular. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

April 02, 2024 08:45 AM Eastern Daylight Time

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Three Investment Banks Initiate Coverage On Bitdeer With Buy Ratings And Price Targets Implying Potential Triple-Digit Upside

Benzinga

By Austin DeNoce, Benzinga Three prominent capital markets firms recently initiated coverage on Bitdeer Technologies Group (NASDAQ: BTDR), a key player in the Bitcoin and high-performance computing (HPC) sector. Bitdeer is known for its diversified and vertically integrated operations that span self-mining, hash rate sharing, AI Cloud services and now Bitcoin mining chip development. Their unique position in the market has caught the attention of Roth/MKM, B. Riley Securities and BTIG, each of which offered its insights and projections on Bitdeer – shedding light on its potential in the rapidly evolving Bitcoin mining landscape. Roth/MKM's Coverage Roth/MKM kicked off its analysis of Bitdeer Technologies Group with a bullish stance, awarding it a Buy rating and setting a price target of $14, which suggests a sizable move from its current price of about $7. The firm highlights Bitdeer's ambitious expansion plans, given that Bitdeer aims to increase its capacity to approximately two gigawatts in the foreseeable future. This expansion is viewed as a major growth opportunity, potentially establishing Bitdeer as a formidable force in the mining sector. Despite the capital requirements for scaling operations, Roth/MKM is optimistic about Bitdeer's growth trajectory, citing the company's diversified business segments as a robust investment proposition. Their positive outlook is further buoyed by Bitdeer's potential to significantly boost its mining capacity to enhance its overall position in the Bitcoin mining industry. B. Riley Securities’ Coverage The second investment bank shifting its focus to Bitdeer was B. Riley Securities, which also commenced its coverage with a Buy recommendation, forecasting a striking upside of more than 140% with an average one-year price target of $15.30. This optimistic projection is underpinned by an anticipated revenue jump to $381 million for Bitdeer, coupled with a projected non-GAAP EPS of $0.44. The bullish sentiment is also supported by a substantial increase in institutional interest, as indicated by a significant uptick in the number of funds reporting positions in Bitdeer. Last quarter, only four funds held Bitdeer, but that figure has since surged to 53. According to B. Riley Securities, this growing institutional backing, along with a favorable put/call ratio, underscores the financial community's confidence in Bitdeer's future prospects. BTIG’s Coverage Lastly, BTIG analyst Gregory Lewis issued a third Buy rating on Bitdeer, with a price target of $15. Lewis points to Bitdeer's established presence as a global Bitcoin miner and its diversified operations, which include a substantial self-mining hash rate and hosting capabilities. With plans to quadruple its self-mining capacity to about 30 EH, leveraging around 1,075 MW of power infrastructure, he believes Bitdeer is well positioned to enhance its competitive edge in the market. Lewis’s endorsement is predicated on Bitdeer's strategic investments in equipment technology and its advantageous power infrastructure, which are expected to reinforce its standing at the lower end of the cost curve. Coverage Initiations Mark A Key Milestone For Bitdeer The initiation of coverage by Roth/MKM, B. Riley Securities and BTIG marks a pivotal moment for Bitdeer, reflecting growing confidence in its strategic direction and recognition of its growth potential within the Bitcoin mining industry. With ambitious expansion plans and a focus on diversification and technological advancements like the company’s latest foray into custom mining chips, Bitdeer seems poised to carve out a significant niche in the Bitcoin mining and high-performance computing sectors. The endorsements from these investment banks highlight Bitdeer's potential and they also signal a broader recognition of its role in shaping the future of the industry. Featured photo by Hans Eiskonen on Unsplash. Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

April 02, 2024 08:30 AM Eastern Daylight Time

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How Cboe's Hybrid Trading Model Bridges Past And Future

Benzinga

By Cboe The trading floor, or "the pit" as it’s often called, has been the heart of financial markets for decades. This bustling environment, where traders use shouts and hand signals to trade stocks and options, embody the energy and dynamism of the financial markets – from New York’s Wall Street to Chicago’s LaSalle Street. The pit is where the action happens with traders in colorful jackets representing different brokerages working hard to get the best prices for their clients amidst the seeming chaos. Many of the once-treasured trading floors across the globe have been replaced by electronic trading, leaving many to believe the pit is a relic of the past. They would be wrong. There are several trading floors still in action today, including the largest options pit in the world at Cboe Global Markets, Inc. (Cboe: CBOE). The Shift Toward Electronic Trading Despite this widespread migration to electronic systems across the industry, some institutions, like the New York Stock Exchange (NYSE) and Cboe have chosen to maintain their trading floors. For Cboe, this decision was largely rooted in a recognition of the unique value that these physical spaces bring to the trading process, particularly for certain types of transactions. However, it’s important to note that the choice to hold onto trading floors wasn’t a battle against technological progress; it was a strategic decision to embrace the best of both worlds. The advent of electronic trading revolutionized the finance industry, leading to incredible transformations many of us take for granted today. This shift brought about increased efficiency, reduced costs and greater accessibility to the markets for a broader audience. Advances in technology democratized the markets by providing investors with increased access to news, information, and educational resources, while also offering benefits such as enhanced speed of execution, cost savings, efficiency, stability, and scalability. These factors continue to drive the growth of the industry. Cboe’s launch of the first all-electronic options exchange in 2000 represented a seismic shift in the trading landscape. However, rather than solely embracing electronic trading, Cboe pursued a hybrid model that preserved the benefits of both floor-based open outcry trading and electronic executions. This approach leveraged the expertise and liquidity concentrated on the trading floor. Cboe's Commitment To Hybrid Trading In June 2022, Cboe Global Markets reaffirmed its commitment to hybrid trading with a new, state-of-the-art trading floor in Chicago's historic Board of Trade Building. This move not only honors Cboe's origins as the first listed options exchange in the U.S. but also speaks volumes about its belief in the synergy between human expertise and electronic efficiency. The utility of open outcry trading remains significant for certain Cboe customers, particularly for executing larger, more complex orders and facilitating price discovery. While smaller retail orders often migrate electronically, larger institutional trades find open outcry more conducive. The hybrid model offers customers the flexibility to choose the most suitable method for order execution based on their preferences and requirements. This hybrid model ensures that Cboe can cater to the diverse needs of its customers, providing flexibility and precision in trade execution. Embracing The Future While Honoring Tradition Ultimately, Cboe's trading floor is much more than a physical space for transactions; it's a symbol of the company's dedication to innovation, customer service and the rich history of the trading industry. As the market evolves, the role of the trading floor has undoubtedly transformed, but its value, particularly in facilitating complex transactions and nurturing human connections, remains undeniable. As others close down their trading pits, Cboe's commitment to a hybrid trading environment uniquely positions it in the modern financial landscape. Its newfound flexibility leaves it ready to face the digital future while staying rooted in the traditions that have shaped the industry. Featured photo by CBOE Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

April 02, 2024 08:30 AM Eastern Daylight Time

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Korean Beauty Brand MIXIK SKIN Launches With Industry First, All-Mist Skincare Line

MIXIK SKIN

MIXIK SKIN, a Korean beauty brand based in Los Angeles, launched today on a mission to break down the barriers of skincare, making it accessible for all, irrespective of age, gender, or skin type. Teaming up with first retail partner Thirteen Lune, MIXIK SKIN’s innovative all-mist skincare line introduces a minimalist yet effective skincare collection designed to simplify routines while delivering exceptional results. Founder Sunny Oh created MIXIK SKIN out of an essential need for a convenient, sanitary, and travel-friendly skincare solution that was fun yet effective. Inspired by Korean beauty practices, Oh joined forces with co-founders Christine Moon and Lena Park, who recognized the transformative potential of mists in skincare, especially for those with active lifestyles, and embarked on a mission to integrate the ease of mists into every facet of skincare rituals. "Society often dictates rigid standards of beauty and skincare, but we believe that everyone deserves access to products that enhance their natural beauty without limitations," said Sunny Oh, CEO and Co-Founder of MIXIK SKIN. "With MIXIK SKIN, we're not just offering sanitary skincare; we're offering empowerment – the freedom to embrace your unique skin journey confidently, conveniently, and consistently." MIKIK SKIN blends the best of both worlds with roots in Los Angeles and production and innovation from Korea. At MIXIK, crafting skincare solutions from luxury-quality ingredients at an affordable rate is imperative to its ethos as the brand aims to cultivate a diverse and inclusive beauty landscape, ensuring that everyone’s skincare needs are addressed at every price point. "As a Korean-American, I've always felt a deep connection to both cultures, and MIXIK SKIN is a reflection of that fusion," said Christine Moon, Managing Director and Co-Founder of MIXIK SKIN. "We're proud to bring the essence of Korean beauty to a global audience, while also championing diversity in an industry that often lacks representation." MIXIK SKIN's debut collection features four essential products: the Cleansing Oil, Jelly Toner, Botanical Serum, and Hydra Cream, all formulated with the rejuvenating properties of blue agave and rosewater. Crafted with a commitment to ethical practices, all MIXIK SKIN products are cruelty-free and vegan, embodying the brand's core values of inclusivity, simplicity, and quality. "We believe that skincare should be both effective and enjoyable, which is why we've curated a line that prioritizes simplicity without compromising on results," said Lena Park, Brand Director and Co-Founder of MIXIK SKIN. "Our products are designed to fit seamlessly into any routine, providing nourishment and hydration for every skin type." MIXIK SKIN is available to shop at www.mixikskin.com and at Thirteen Lune. For more information and updates, visit www.mixikskin.com and follow @mixikskin on social media. Hi-res images, interviews, and media samples are available upon request. About MIXIK SKIN: MIXIK SKIN is a Korean beauty brand based in Los Angeles, dedicated to breaking down the barriers of skincare and making it accessible for all. Founded by Sunny Oh, Christine Moon, and Lena Park, MIXIK SKIN blends the best of Korean skincare wisdom with modern innovation, offering a range of minimalist yet effective products designed for every skin type and gender identity. With a commitment to inclusivity, simplicity, and quality, MIXIK SKIN empowers individuals to embrace their unique skin journey with confidence. Contact Details Six One Agency Cami Carlson camryn@six-one.com

April 02, 2024 08:03 AM Eastern Daylight Time

New Cutting-Edge Airborne Hyperspectral Data Confirms Target for Core of Porphyry Copper-Moly System at New Boston; Drill Program Mobilizes

VR Resources Ltd.

April 2, 2024, Vancouver, B.C. - TheNewswire - VR Resources Ltd. (TSX.V: VRR, FSE: 5VR; OTCQB: VRRCF ), the " Company ", or “ VR ”, has received the final data from a state-of-the-art airborne hyperspectral survey covering its New Boston property and polymetallic Cu-Mo-Ag porphyry system in west-central Nevada, and the spring drill program has mobilized. From VR’s President & CEO, Dr. Michael Gunning, “ Historical, boots-on-the-ground exploration was completed by two renowned exploration groups at New Boston through the 1960s and 1970s. VR is building upon that work by utilizing modern and innovative exploration technologies to more specifically identify vectors for copper-bearing vein stockwork centers within the large footprint and polymetallic porphyry-skarn system overall. We completed a triaxial airborne magnetic survey last spring, including high-resolution radiometrics, followed by a 3-D array, DCIP survey on the ground utilizing the leading, and proprietary technologies at DIAS Geophysical. All three surveys differentiate unique signatures at Jeep Mine and East Zone respectively, located on opposing sides of the central GW fault, itself mineralized at surface for more than a kilometre along strike. Airborne hyperspectral surveys map alteration minerals. They augment property-scale mapping on the ground by providing detailed mineral identification, including compositional variation, which cannot be done visually. Further, the system is especially responsive at New Boston thanks to the excellent bedrock exposure in the Garfield Range, allowing for comparative analysis across the entire mineral system and surrounding district. SpecTIR LLC, NV, is an industry leader in providing hyperspectral data from across the near-visible (VNIR), short (SWIR) and long (LWIR) infra-red wavelengths via their integrated FENIX 1K - OWL technology, and mapping the broadest range of alteration minerals, including the carbonates, clays, micas, quartz, iron, feldspars and garnet, among others. This is especially effective for skarn alteration minerals related to porphyry intrusions at New Boston. For example, Figure 1: There is a strong correlation between high temperature clay minerals identified by the new hyperspectral survey with the potassic alteration in East Zone outlined by our high resolution airborne radiometric survey completed last year. Figure 2: Our first planned drill hole will be collared in quartz vein rubble with copper oxide within that high temperature clay alteration, and will target the conductor plunging westward toward the central GW fault as identified in the new 3D array DCIP data also obtained last year. There are no historic drill holes into the East Zone conductor; you don’t drill what you can’t see. But 45 years later, an array of new geophysical and geochemical tools are showing VR a zonation in the New Boston porphyry system across the central GW boundary zone and fault: in potassic alteration; in vein intensity and geometry; in IP and conductivity anomalies; in magnetic patterns; in alteration mineral assemblages, and; in copper geochemistry. The excavator in the photo taken last week in Figure 3 shows you that we are ready to go. Please stay tuned as we mobilize this maiden drill program into what we believe is the high temperature center for copper vein stockwork mineralization in the eastern cell of the large footprint and polymetallic copper-moly-silver system at New Boston.” Field Videos A short video from the recent field visit, along with video from several previous site visits are available on the New Boston Project Page on the Company’s website at www.vrr.ca. Also, on the Home Page itself, is a 20 minute video review of the New Boston project and drill targets, illustrated in PowerPoint. Shareholders are encouraged to follow the Company’s YouTube and Instagram channels for further field updates as drilling progresses. Technical Information Summary technical and geological information for the Company’s various exploration properties including New Boston is available at the Company’s website at www.vrr.ca. Technical information for this news release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101. Justin Daley, P.Geo., VP Exploration and a non-independent Qualified Person oversees and/or participates in all aspects of the Company’s mineral exploration projects, and the content of this news release has been reviewed on behalf of the Company by the CEO, Dr. Michael Gunning, P.Geo., a non-independent Qualified Person. About the New Boston Property Location New Boston is within the Walker Lane mineral belt and structural province in west-central Nevada. More specifically, it is within the co-spatial belts of Jurassic - and Cretaceous-aged copper and moly porphyry deposits, including the Yerington camp and Hall deposit. New Boston is located in the Garfield Range in Mineral County, approximately 150 km southeast of Reno. Vegetation is sparse in the range; outcrop or colluvium predominate on the property itself, with quaternary cover developed off its eastern border and eastern flank of the range. The property location facilitates cost-effective exploration, year-round. Access is from the nearby town of Luning, located just 5 km to the east on State Highway 95 connecting Reno and Las Vegas. The property itself is criss-crossed by a myriad of active, historic trails and roads, which are reachable from the highway. Property Description The New Boston property is large: it consists of 77 claims in one contiguous block approximately 3 x 5km in size and covering 583 hectares in total (1,441 acres). It covers the entire extent of the known copper-moly-silver porphyry-skarn mineral system exposed on surface between Blue Ribbon and East Zone, and its inferred down-dip potential to the north. The property is on federal land administered by the Bureau of Land Management (BLM). There are no state or federal land use designations, or privately-owned land which impede access to the property; nor is the property within the BLM’s broadly defined area of sage grouse protection. The property is owned 100% by VR. There are no underlying annual lease payments; nor are there any joint venture or back-in interests. The vendor of the property retains a royalty. Stock Option Allocation The Company has approved an aggregate allocation of 1,725,000 incentive stock options at a price of $0.22 and exercisable for a period of five years to various directors, officers, employees and consultants to the Com pany, and in accordance with the terms of the Company’s Stock Option Plan About VR Resources VR is an established junior exploration company based in Vancouver (TSX.V: VRR; Frankfurt: 5VR; OTCQB: VRRCF). VR evaluates, explores and advances large-scale, blue-sky opportunities in copper, gold and critical metals in Nevada, USA, and Ontario, Canada. The Company has also made Canada’s newest diamond discovery in northern Ontario, and controls a new field of kimberlite targets around it. VR applies modern exploration technologies and leverages in-house experience and expertise in greenfields exploration to large-footprint mineral systems in underexplored areas/districts. The foundation of VR is the proven track record of its Board in early-stage exploration, discovery and M&A. The Company is well-financed for its mineral exploration and corporate obligations. VR owns its properties outright and evaluates new opportunities on an ongoing basis, whether by staking or acquisition. ON BEHALF OF THE BOARD OF DIRECTORS: “Michael H. Gunning” ____________________________ Dr. Michael H. Gunning, PhD, PGeo President & CEO For general information please use the following: Website: www.vrr.ca Email: info@vrr.ca Phone: 778-731-9292 Forward Looking Statements This news release contains statements that constitute "forward-looking statements". Such forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Forward-looking statements in this document include statements concerning VR’s plans to drill its New Boston property, and all other statements that are not statements of historical fact. Although the Company believes the forward-looking information contained in this news release is reasonable based on information available on the date hereof, by their nature forward-looking statements involve assumptions, known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Examples of such assumptions, risks and uncertainties include, without limitation, assumptions, risks and uncertainties associated with general economic conditions; the Covid-19 pandemic; adverse industry events; future legislative and regulatory developments in the mining sector; the Company ’ s ability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favorable terms; mining industry and markets in Canada and generally; the ability of the Company to implement its business strategies; competition; and other assumptions, risks and uncertainties. The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the company may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws. This news release may also contain statements and/or information with respect to mineral properties and/or deposits which are adjacent to and/or potentially similar to the Company’s mineral properties, but which the Company has no interest in nor rights to explore. Readers are cautioned that mineral deposits on similar properties are not necessarily indicative of mineral deposits on the Company’s properties. Trading in the securities of the Company should be considered highly speculative. All of the Company’s public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review them. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release ------ Click Image To View Full Size Figure 1. Hyperspectral data for clay alteration minerals plotted on Skywatch satellite image. The high temperature clays associated with potassic alteration at East Zone, outlined by the large, pink K/Th radiometric anomaly, contrast with the cooler phengitic clays at Jeep Mine. The clay alteration pixels corelate strongly with exposed mineralized porphyry dikes in both zones. The clay-chlorite and quartz alteration in the overlying dark grey argillite to the north of East Zone correlates with grid-based ICP-MS soil geochemical anomalies in the same area and are together suggestive of a source, buried porphyry stock at depth below the argillite. Solid white lines are traces for conceptual drill holes planned for 2024. Click Image To View Full Size Figure 2. View east from the property last week, standing on the drill pad for NB24-001, the first hole in the pending drill program planned for this spring at New Boston, with State Highway 95 connecting Reno and Las Vegas in the valley bottom in the background. The blue-green copper oxide in quartz vein rubble in the foreground correlates with high temperature clay and garnet alteration minerals identified in the new, state-of-the-art airborne hyperspectral survey covering New Boston, and shown in Figure 1. Click Image To View Full Size Figure 3. View west into the East Zone bowl last week, over the drill pad for the first hole in the pending drill program planned for this spring at New Boston. The piece of quartz vein material with copper sulfide and copper oxide was turned up by the excavator throughout the drill pad area, and supports the DCIP conductor which is modelled at surface at this location, and plunges back into the bowl in the background of the photo.

April 02, 2024 07:30 AM Eastern Daylight Time

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New Cutting-Edge Airborne Hyperspectral Data Confirms Target for Core of Porphyry Copper-Moly System at New Boston; Drill Program Mobilizes