DeFi Technologies’ subsidiary Valour has recently launched the first exchange-traded product for Core DAO, a Bitcoin scaling solution. This new product, known as “CORE ETP,” will be available on the Spotlight Stock Exchange, providing investors with a new way to access the Core blockchain network.
Core DAO, founded in 2022, is a Bitcoin-powered blockchain that offers services such as non-custodial Bitcoin staking and yield-bearing Bitcoin ETP. The project aims to integrate proof-of-work and delegated proof-of-stake consensus mechanisms, providing a unique approach to scalability and security in the crypto space.
Rich Rines, the founding contributor to CoreDAO, expressed excitement about the launch of the ETP, stating that it is a valuable contribution to the project. With the introduction of the CORE ETP, institutions and traditional finance participants now have the opportunity to access the native CORE token and participate in the Core ecosystem.
This announcement comes on the heels of DeFi Technologies facing scrutiny over allegations of stock manipulation and unfounded growth claims by CoinSnacks, a cryptocurrency newsletter. CoinSnacks suggested that DeFi Technologies’ stock gains were driven by influencer pumps, mentions on mainstream media outlets like CNBC, email campaigns, and endorsements by well-known figures such as Anthony Pompliano.
In response to these claims, DeFi Technologies issued a statement refuting the allegations made by CoinSnacks. The company described the report as unfounded and containing defamatory, selective, inaccurate, incomplete, and misleading statements. DeFi Technologies emphasized its commitment to transparency and integrity in all its operations and communications.
Overall, the launch of the CORE ETP by Valour marks an important milestone for CoreDAO and the broader crypto community. It provides investors with a new avenue to participate in the Core ecosystem and demonstrates the continued innovation and growth in the decentralized finance space. Investors and industry observers will be closely watching the performance and reception of the CORE ETP as it becomes available on the Spotlight Stock Exchange.
