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company

Blockchain financial company Fence completes $20 million financing, led by Galaxy Digital

According to CoinDesk, Galaxy Digital led a $20 million financing round for fintech company Fence, with participation from Parafi Capital and Crane Ventures. Fence plans to utilize blockchain, smart contracts, and tokenization technology to transform the backend processes of the $6 trillion asset-backed finance market.This round of financing will primarily be used for Fence's expansion in the U.S. market and product development. Reports indicate that a large number of structured credit transactions still rely on manual processes such as Excel, PDF, and email to complete loan tracking, collateral verification, and cash flow processing, which are inefficient and have limited transparency. Fence aims to achieve real-time data updates and automated settlements through a unified system.It is reported that Fence obtains loan data via API and uses smart contracts to automatically execute payments and cash flow distribution once conditions are met. Additionally, the company can tokenize loan shares within financing vehicles, allowing investors to transfer positions, collateralize financing, or automatically receive payments.Currently, the Fence platform manages approximately $1.5 billion in assets, with partner institutions including BBVA, BlackRock, and Fortress Investment Group. The company states that compared to the traditional processing cycle of several months, its system can complete new transaction launches within weeks.

Eric Trump responds to Forbes' criticism: ABTC BTC holdings exceed 7,000 coins, ranking as the 16th largest publicly listed Bitcoin company

Eric Trump, the second son of Trump, responded to Forbes' criticism of his significant arbitrage through the Bitcoin business, which harms MAGA investors. Eric stated that Forbes has become a disgrace in the journalism industry. Just over a year ago, his Bitcoin company American Bitcoin (ABTC) did not exist. 7 months and 25 days ago, ABTC was listed on Nasdaq, and today it holds over 7,000 Bitcoins, becoming the 16th largest publicly traded Bitcoin company in the world, backed by a massive cluster of nearly 90,000 mining machines and a computing power of 28 EH/s, using the highest quality energy in the United States.In just the fourth quarter, the Bitcoin on the balance sheet increased by 58%, with mining costs 53% lower than the market price of Bitcoin, and fourth-quarter revenue reached $78.3 million, a quarter-over-quarter increase of 22%. American Bitcoin can be said to be the company that has entered the "top 100" ranking in this field at the fastest speed, and it is actively expanding its mining scale every day. This narrative is strikingly similar to Forbes' rhetoric from years ago.According to previous reports from ChainCatcher, Forbes published an article criticizing Eric Trump's Bitcoin business as a disaster, pointing out that Eric Trump promotes his Bitcoin company American Bitcoin (ABTC) as a money printer, but in reality, it is just an arbitrage tool specifically designed to exploit those investors who support MAGA (Make America Great Again).
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