DeFi
Core DAO, based on Bitcoin, launches its own ETP on the Swedish stock exchange
DeFi Technologies subsidiary Valor has unveiled the first exchange-traded product for Core DAO, a Bitcoin scaling solution.
Swiss financial company Valor has introduced its first exchange-traded product (ETP) for Core DAO (CORE), a Bitcoin– layer 1 solution powered by algorithms integrating proof of work and delegated proof of stake consensus mechanisms.
In a press release seen by crypto.news, the Core Foundation said the new product called the “CORE ETP” will be available on the Spotlight Exchange as part of the organization’s efforts to offer investors “a new way to gain exposure to the Core blockchain network.”
Rich Rines, the founding contributor of CoreDAO, said the launch of the ETP marks a “valuable contribution” to the project, adding that institutions and other traditional finance participants can now gain access to the native CORE token. Founded in 2022, Core is a Bitcoin-powered blockchain aimed at offering EMV-enabled services such as non-custodial Bitcoin staking and yielding Bitcoin ETP.
For DeFi Technologies, the launch comes just a week after the company had to refute allegations of stock manipulation and unfounded growth claims made by CoinSnacks, a cryptocurrency newsletter, which questioned the basis for its shares’ 3,400% rise over the past year.
In a June 18 reportCoinSnacks criticized DeFi Technologies, alleging that the company’s stock gains were driven by “influencer pumps, CNBC mentions, email campaigns, and Pomp endorsements.” [Anthony Pompliano].”
In response the next day, DeFi Technologies rejected CoinSnacks’ claims, calling the report in its press release “baseless” and containing “defamatory, selective, inaccurate, incomplete and misleading statements, speculation and insinuations.”