Is CVC coin a good investment?
According to WalletInvestor, CVC is a bad long-term investment, and the Civic coin price might meet a decrease in the following years. However, the service also provides the Civic coin price chart that shows a possible spike in CVC value in 2021.Oct 30, 2020

Hard Fork (Blockchain)

By JAKE FRANKENFIELD Reviewed by ERIKA RASURE Updated Jun 24, 2021

What Is a Hard Fork?

A hard fork (or hardfork), as it relates to blockchain technology, is a radical change to a network's protocol that makes previously invalid blocks and transactions valid, or vice-versa. A hard fork requires all nodes or users to upgrade to the latest version of the protocol software.

Forks may be initiated by developers or members of a crypto community who grow dissatisfied with functionalities offered by existing blockchain implementations. They may also emerge as a way to crowdsource funding for new technology projects or cryptocurrency offerings.

A hard fork can be contrasted with a soft fork.

KEY TAKEAWAYS

A hard fork refers to a radical change to the protocol of a blockchain network that effectively results in two branches, one that follows the previous protocol and one that follows the new version.

In a hard fork, holders of tokens in the original blockchain will be granted tokens in the new fork as well, but miners must choose which blockchain to continue verifying.

A hard fork can occur in any blockchain, and not only Bitcoin (where hard forks have created Bitcoin Cash and Bitcoin SV, among several others, for example).

Understanding a Hard Fork

A hard fork is when nodes of the newest version of a blockchain no longer accept the older version(s) of the blockchain; which creates a permanent divergence from the previous version of the blockchain.

Adding a new rule to the code essentially creates a fork in the blockchain: one path follows the new, upgraded blockchain, and the other path continues along the old path. Generally, after a short time, those on the old chain will realize that their version of the blockchain is outdated or irrelevant and quickly upgrade to the latest version.

How Forks Work

A fork in a blockchain can occur in any crypto-technology platform—not only Bitcoin. That is because blockchains and cryptocurrency work in basically the same way no matter which crypto platform they're on. You may think of the blocks in blockchains as cryptographic keys that move memory. Because the miners in a blockchain set the rules that move the memory in the network, these miners understand the new rules.


However, all of the miners need to agree about the new rules and about what comprises a valid block in the chain. So when you want to change those rules you need to "fork it"—like a fork in a road—to indicate that there's been a change in or a diversion to the protocol. The developers can then update all of the software to reflect the new rules.

It is through this forking process that various digital currencies with names similar to bitcoin have come to be: bitcoin cash, bitcoin gold, and others. For the casual cryptocurrency investor, it can be difficult to tell the difference between these cryptocurrencies and to map the various forks onto a timeline. To help sort this out, we have composed a history of the most important bitcoin hard forks of the past several years.

As the graphic below displays, nodes that are not upgraded reject the new rules, which creates a divergence, or hard fork, in the blockchain.

Hard Fork

Reasons For a Hard Fork?

There are a number of reasons why developers may implement a hard fork, such as correcting important security risks found in older versions of the software, to add new functionality, or to reverse transactions—such as when the Ethereum blockchain created a hard fork to reverse the hack on the Decentralized Autonomous Organization (DAO).

After the hack, the Ethereum community almost unanimously voted in favor of a hard fork to roll back transactions that siphoned off tens of millions of dollars worth of digital currency by an anonymous hacker. The hard fork also helped DAO token holders get their ether (ETH) funds returned.1

The proposal for a hard fork did not exactly unwind the network’s transaction history. Rather, it relocated the funds tied to the DAO to a newly created smart contract with the single purpose of letting the original owners withdraw their funds.

DAO token holders could withdraw ETH at a rate of approximately 1 ETH to 100 DAO. The extra balance of tokens and any ether that remained as a result of the hard fork was withdrawn and distributed by the DAO curators to provide "failsafe protection" for the organization.

Hard Forks vs. Soft Forks

Hard forks and soft forks are essentially the same in the sense that when a cryptocurrency platform's existing code is changed, an old version remains on the network while the new version is created.

With a soft fork, only one blockchain will remain valid as users adopt the update. Whereas with a hard fork, both the old and new blockchains exist side by side, which means that the software must be updated to work by the new rules. Both forks create a split, but a hard fork creates two blockchains and a soft fork is meant to result in one.

Considering the differences in security between hard and soft forks, almost all users and developers call for a hard fork, even when a soft fork seems like it could do the job. Overhauling the blocks in a blockchain requires a tremendous amount of computing power, but the privacy gained from a hard fork makes more sense than using a soft

What Changed in Crypto Markets While You Were Sleeping — July 2

By Kyle Baird
2 July 2021
beincrypto

Bitcoin (BTC) has continued to slip back to range lows.

XDC Network is up more than 10% on the day.

Robinhood has stated that more than 1/3 of its Q1 revenue came from Dogecoin trading.

The Trust Project is an international consortium of news organizations building standards of transparency.

BeInCrypto presents our daily morning roundup of crypto news and market changes that you might have missed while you were asleep.

Sponsored


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Bitcoin update

Bitcoin had been moving upwards since June 22. At the time, it had reached a low of $28,805. The ensuing bounce caused it to reclaim the $31,400 horizontal support area.

On June 29, BTC reached a high of $36,600 before falling sharply. It’s currently trading near $32,800.

Technical indicators in the daily time frame are bearish. The MACD is close to giving a bearish reversal signal (red icon) and its signal line is below 50. The RSI is below 50 and decreasing while the Stochastic oscillator has made a bearish cross.

The main resistance area is found at $40,550. This target is a horizontal resistance level and the 0.382 Fib retracement level.

Altcoin movers

The total cryptocurrency market cap has dipped back to $1.4 trillion today. It’s now closer to the range lows of $1.33 trillion after briefly touching a local high of $1.75 trillion on June 15. Most cryptocurrencies in the top-100 are down slightly over the past 24 hours.

The only altcoin in the top-100 that has gained more than 10% in the past day is XDC Network (XDC). It’s up by more than 13% on the day and has gained a whopping 60% in the past week.

On the other hand, Bitcoin Cash ABC (BCHA) is down almost 10% in the past 24 hours. It has nearly slipped out of the top-100 and is currently sitting at the #96 position.

In other crypto news

Popular millennial trading app Robinhood is claiming that over a third of its revenue for the first three months of 2021 has come from Dogecoin.

The South Korean Bithumb exchange has implemented a new policy that prevents employees from investing in or trading cryptocurrencies using Bithumb accounts.

Ukraine has passed a new law that would put its central bank digital currency (CBDC) on the same level as other payment instruments in the country.

Don't forget too that keeping your coins in a local wallet benefits you on a hard fork. For example, the upcoming ETC Magneto hard fork. When the coin forks you have to wait until the exchange has settled all of its wallets. That means your coins are untradeable during that downtime. Whereas if you have coins on your local wallet, once your wallet is updated you can go ahead and start trading once their the miners have reached consensus. Sometimes exchanges can take days and that is usually when a coin runs hot and heavy. If you have coins on an exchange, all you can do is watch!

I keep all my crypto in cold storage wallets. I would never leave ANYTHING significant on an exchange. That is a great way to lose everything.

Attily was doomed from the start. Anyone with experience could see it was a scam. They took developer and community fees for listing coins. I know personally.

I don't even trust coinbase or bittrex.

Traders know when dumps are coming by the movement of BTC to exchange addresses. So, everyone hopefully knows to leave no more than 25% of total crypto on an exchange

A ‘Dogecoin Metaverse’ Launches Tomorrow—And It's Giving Away 1 Million DOGE

A weird and wacky augmented reality Dogecoin game event kicks off tomorrow. There’s free DOGE, and promises of "world peace."

decrypt.co
By Mathew Di Salvo
Jul 2, 2021

In brief

The ‘Million Doge Disco’ event kicks off tomorrow.
Participants in the augmented reality game will be awarded with NFTs—and receive free Dogecoin.

Canadian PM Justin Trudeau’s half brother is behind the event.

Imagine Dogecoin raining out of the sky and dancing Shiba Inu dogs landing in your living room.

That’s what you can experience tomorrow if you want to be swept up in the “party metaverse” based on the crypto industry’s biggest meme coin.

On Saturday, the “Million Doge Disco” event starts. Running in partnership with blockchain development platform, Blockv, it’s as wacky as it sounds: those who sign up will be part of a dance party/augmented reality game where, via a smartphone, one can interact with other Dogecoin fans around the world. NFTs, unique digital tokens that can represent things like artwork or video content, will be dished out to those who partake.

And also one million Dogecoin. Apart from the NFTs, participants will have the chance to get their hands on free crypto. At today’s prices, about $242,000-worth of the coin will be given away over the coming weeks.

If that wasn’t strange enough, there’s another twist: Canadian PM Justin Trudeau’s half-brother is one of the people behind the borderline psychedelic project.

But it’s not money or fame that Kemper is after here, he claims.

Kemper, who is also the founder of crypto wallet and card, Swiss Key, told Decrypt via a Zoom call that “world peace” was the ultimate goal—through worship of the sixth biggest cryptocurrency by market cap, of course. “I really believe in the strength of this community and the fact that it’s grounded in fun and memetic behavior,” he said while donning over-sized sunglasses and tiger print American football shoulder pads. The getup, we suspect, was some kind of ode to the Dogecoin community.

But despite laughing and joking during some of the call, he was serious about the way in which the Dogecoin community differs from the rest of crypto. “It’s not insanely tribal-like some of the other coins and it hasn’t been about making money so much,” he said. “It’s really been rooted in gifting and doing funny stuff.”

Dogecoin is a cryptocurrency that has exploded in popularity recently. Based on a silly Shiba Inu dog meme, it was created in 2013 as a joke. But in the past year, Elon Musk, CEO of electronic car company Tesla and one of the world’s richest men, has pumped the price on Twitter through seemingly off-the-cuff remarks about his love for the coin.

And while it may not have been “about making money” in the beginning, recent Dogecoin buyers likely don’t share the sentiment. Over the last year, the cryptocurrency has climbed the ranks to become one of the most valuable coins in the market—with a market cap of over $31 billion. It was today trading at $0.24, a 10,000% increase over the past year.

Dogecoin, according to its current team of developers, is also trying to be a serious cryptocurrency for payments: the team behind the coin told Decrypt that they were working with Elon Musk to make it a rival to Bitcoin.

Dogecoin Dev Ross Nicoll: What It's Like Working With Elon Musk
It was almost midnight in London on a quiet Thursday last week. Software engineer and part-time Dogecoin developer Ross Nicoll was getting into his pajamas, ready for bed, when his message fee...

Features
Long Reads
Adriana Hamacher
May 21, 2021

10 min read
Dogecoin can now be bought on most major crypto exchanges, including Coinbase, but tomorrow will be a chance to get hold of it for free: Gary Lachance, an early investor in Dogecoin and co-founder of the event, is the man behind the 1 million DOGE giveaway.

“The power of the Doge community is incredible,” he told Decrypt. “We’re working towards a giant global party on World Peace day,” he said. “This is just the beginning.”

The event will start tomorrow at 1pm Pacific time and will run until September 21.

Bitcoin mining is now easier and more profitable as algorithm adjusts after China crackdown

JUL 3 2021
MacKenzie Sigalos
CNBC

KEY POINTS

More than 54% of bitcoin’s hashrate, which is the collective computing power of miners worldwide, has dropped off the network since its market peak in May.

The bitcoin code has re-calibrated to make it 28% less difficult to mine.

Miners who are still plugged into the network stand to make greater profits while most of the network’s miners remains offline.

It just became a whole lot easier and much more profitable to mine for bitcoin.

The world has known for months that more than half the world’s bitcoin miners would be going dark as China cracked down on mining. Now that it’s happened, the bitcoin algorithm has adjusted accordingly to make sure miner productivity doesn’t continue to fall off a cliff.

That adjustment – which took effect early Saturday morning – also means that way more cash is going to the bitcoin miners who remain online.

“This will be a revenue party for miners,” said bitcoin mining engineer Brandon Arvanaghi.

“They suddenly own a meaningfully larger piece of the pie, meaning they earn more bitcoin every day.”

Mining made easier

A bitcoin miner runs a program on a computer to try to solve a puzzle before anyone else does. Solving that puzzle is what completes a block, a process that both creates new bitcoin and updates the digital ledger keeping track of all bitcoin transactions.

China had long been the epicenter of bitcoin miners, with past estimates indicating that 65% to 75% of the world’s bitcoin mining happened there, but a government-led crackdown has effectively banished the country’s crypto miners.

?For the first time in the bitcoin network’s history, we have a complete shutdown of mining in a targeted geographic region that affected more than 50% of the network,” said Darin Feinstein, founder of Blockcap and Core Scientific.

More than 50% of the hashrate – the collective computing power of miners worldwide – has dropped off the network since its market peak in May.


Fewer people mining means that fewer blocks are solved each day. Typically, it takes about 10 minutes to complete a block, but Feinstein told CNBC the bitcoin network has slowed down to 14- to 19-minute block times.

This is precisely why bitcoin re-calibrates every 2016 blocks, or about every two weeks, resetting how tough it is for miners to mine. On Saturday, the bitcoin code automatically made it about 28% less difficult to mine – a historically unprecedented drop for the network – thereby restoring block times back to the optimal 10-minute window.

The bitcoin algorithm is programmed to handle an increase or decrease in mining machines, according to Mike Colyer, CEO of digital currency company Foundry. “It is a self-regulating market that does not require any outside committee to determine what to do. This is a very powerful concept,” he said.

Why does bitcoin use so much energy?

Fewer competitors and less difficulty means that any miner with a machine plugged in is going to see a significant increase in profitability and more predictable revenue.

“All bitcoin miners share in the same economics and are mining on the same network, so miners both public and private will see the uplift in revenue,” said Kevin Zhang, former Chief Mining Officer at Greenridge Generation, the first major U.S. power plant to begin mining behind-the-meter at a large scale.

Assuming fixed power costs, Zhang estimates revenues of $29 per day for those using the latest-generation Bitmain miner, versus $22 per day prior to the change. Longer-term, although miner income can fluctuate with the price of the coin, Zhang also noted that mining revenues have dropped only 17% from the bitcoin price peak in April, whereas the coin’s price has dropped about 50%.

Bitcoin’s ‘mining difficulty’ is about to fall. Here’s what that means for the cryptocurrency

Most investors see bitcoin ending the year below $30,000, CNBC survey shows.

“We are expecting a period of much higher mining profitability for Compass Mining clients,” said Whit Gibbs, CEO and founder of Compass, a bitcoin mining service provider. “We expect miners to be approximately 35% more profitable.”

Blockcap’s Feinstein agrees. “We are expecting a revenue and profit increase for the foreseeable future. This was an unexpected gift to the network, not just on revenues but on decentralization and sustainable energy metrics.”

Although the difficulty drop benefits all miners, those using new-generation equipment stand to benefit the most.

Feinstein tells CNBC that most of the gear in China that was turned off was old-generation equipment, which is inefficient and runs on much smaller profit margins.

Six-month surge

It is hard to predict how long the hashrate deficit will last. Barbour said that it is totally possible that Beijing could simply reverse their policy, and this could only be a short-term interruption.

If not, most mining crypto experts agree that it will take anywhere from six to 15 months for all of that idle and displaced mining hardware to migrate. “It’s going to take a long time for the surplus to find a home,” said Barbour.

Gibbs thinks miners should see heightened revenue for at least the rest of 2021.

“Every day the Chinese miners are searching globally for places to turn their machines back on. There is very limited space at the moment,” said Colyer.

Part of the problem, according to Feinstein, is that even before China cut off mining, there was already a lack of infrastructure to house the new-generation miners being deployed monthly by Beijing-based manufacturer Bitmain.

Now that the market is flooded with an over-supply of used mining rigs, it is tough to say how fast countries will be able to absorb the influx of gear.

“Some mining companies have had everything built and were just waiting for these ASICs to plug in, which would only take a couple days,” explained Arvanaghi.

“Others may need to build containers, extend warehouses, or increase their power capacity. We won’t see the hashrate reach what it used to be overnight, but we’ll see it tick back up over the next few months,” he continued.

Of all the possible destinations for this equipment, the U.S. appears to be especially well-positioned to absorb this stray hashrate. CNBC is told that major U.S. mining operators are already signing deals to patriate some of these homeless Bitmain miners.

U.S. bitcoin mining is booming, and has venture capital flowing to it, so they are poised to take advantage of the miner migration, Arvanaghi told CNBC.

“Many U.S. bitcoin miners that were funded when bitcoin’s price started rising in November and December of 2020 means that they were already building out their power capacity when the China mining ban took hold,” he said. “It’s great timing.”

But Barbour believes that much smaller players in the residential U.S. also stand a chance at capturing these excess miners.

“I think this is a signal that in the future, bitcoin mining will be more distributed by necessity,” said Barbour. “Less mega-mines like the 100+ megawatt ones we see in Texas and more small mines on small commercial and eventually residential spaces. It’s much harder for a politician to shut down a mine in someone’s garage.”

Our Mission, Strategy and Culture

Brian Armstrong

Jul 2

From the earliest days I built Coinbase to harness the power of cryptocurrency and create more freedom in the world.

Five years ago we codified this into the first version of our vision, mission and strategy, the top level objectives that our products and goals align to.
Every few years we take another look and see if we can improve the communication of these core tenets. Why? Because they inform almost every decision we make at Coinbase. “Does this help us achieve our mission?” is one of the most common questions we ask ourselves. This is how we ensure the decisions we make and products we ship are helping to drive our mission forward.

One of my philosophies around building a company is that you have the opportunity to stick only a few key messages in people’s heads about what you’re trying to achieve in the world. There are too many other brands in the world for people to remember much more than that. In this vein, we recently rolled out a simplified set of artifacts that describe Coinbase, with the goal of distilling each to their core.

Here is how we define them:

Our Mission: What we’re trying to achieve in the world
Our Strategy: How we are going to get there
Our Culture: How we hire and work together

If people only remember one item, it should be our mission.

Mission

Our mission is to increase economic freedom in the world.

Why economic freedom? Economic freedom is a global indicator that is clearly defined and has been measured for decades. It is a composite metric, assessed both globally and for every country, that looks at a variety of factors like property rights, stability of currency, ability to start the business you want and work where you want, free trade, corruption, etc.

Economic freedom is a necessary, if not sufficient, condition for human progress. Societies with greater economic freedom have higher life expectancy and GDP growth, less war and corruption, better treatment of the environment, and higher income of their poorest 10%. Higher economic freedom correlates with the kind of societies that we all aspire to create.

The problem is that economic freedom isn’t growing fast enough; the trend over the last 25 years has been a very gradual increase. Our job at Coinbase is to bend the shape of this curve upward.

Index of Economic Freedom (Heritage Foundation)

When I first read the Bitcoin whitepaper back in 2010, I realized this computer science breakthrough might be the key to creating more economic freedom. The current financial system is rife with high fees, delays, unequal access, and barriers to innovation. In many countries, citizens don’t have access to sound money, a functioning credit system, or even basic property rights. I realized that we could use cryptocurrency to create sound financial infrastructure in every country around the world.
Cryptocurrency can provide the core tenets of economic freedom to anyone: property rights, sound money, free trade, and the ability to work how and where they want.

At Coinbase, we are laser focused on increasing economic freedom, because we believe that this is how we can have the biggest impact on the world. Everyone deserves access to financial services that can help empower them to create a better life for themselves and their families, and Coinbase is tasked with making this future a reality.

Strategy

About five years ago, I wrote the Coinbase Secret Master Plan that outlined the four phases I envisioned cryptocurrency going through on its path to reaching 1 billion users. We have made incredible progress towards this plan, with >50M verified users on Coinbase, and more using other crypto products.

If our mission of increasing economic freedom is what we’re trying to achieve, then our strategy represents how we’re going to get there. This revised framing reflects where we are in the evolution of crypto 5 years later, and what we think the next 5+ years will look like.
Our strategy has 3 pillars:

CRYPTO AS AN INVESTMENT

Crypto investing remains our core business and it’s the foundation of growing the cryptoeconomy. Investing is the first use case for every crypto holder and user, and we are the world’s most trusted onramp. We will continue focusing on:

Adding new assets: Ramp pace of asset addition, ultimately offering every reputable cryptocurrency to our users (read: not a scam, or illegal).

Institutional infrastructure: Building advanced trading tools professional traders are used to in traditional markets; building out the critical infrastructure and prime brokerage services to bring access to crypto markets to institutions of all sizes.

International expansion: Grow the reach of crypto, enabling safe and easy to use onramps in every country we can legally operate.

CRYPTO AS A NEW FINANCIAL SYSTEM

Crypto investing was the first use case, and it is bootstrapping a large and growing network of crypto holders. As more users hold crypto, new products will be built to help them use their crypto. Coinbase will offer financial services that are powered by modern crypto infrastructure, including:

DeFi: Safe and easy-to-use onramp to emerging decentralized finance use cases, accessible from the Coinbase app.

Payments: Tools to send and receive fast, cheap, and global payments, as well as tools for any merchants or businesses to accept crypto.
Earning: Unique opportunities to make money in crypto native ways, including staking (participating in network governance) and airdrops for completing educational tasks and incentives.

Borrowing/lending: More open, and more fair access to credit, as well as additional opportunities to earn yield on assets.

Our centralized products will continue to play a critical role in the growth of the cryptoeconomy. Over time, we expect DeFi (decentralized finance, built on open protocols) to outpace CeFi (centralized finance, including first party Coinbase products). We embrace decentralization, and will build products to make interacting with new DeFi as easy as we do our own first party products.

CRYPTO AS AN APP PLATFORM

Finally, crypto companies and protocol teams are driving new innovations and products beyond financial use cases. Coinbase will invest deeply in discoverability and usability of third party products in the cryptoeconomy, and make crypto as easy to use as it is to buy:
Surfacing apps: Enable our users to discover new applications and networks in our core product.

Externalizing shared services: Externalize our robust crypto infrastructure to non-crypto native organizations, making it safe and easy for anyone to interface with the cryptoeconomy.

Investing in the cryptoeconomy: Provide financial support for new compelling projects and teams through Coinbase Ventures that we think can help increase crypto adoption or otherwise further our mission.
Culture

Our mission and strategy are the what and the how, but building a world class company starts with building a high performing team. Our #1 priority is attracting and retaining top talent, which is why we are constantly working to build a culture to enable our team to do the best work of their careers. Our culture is the foundation of how we hire, and promote, and we’ve described it in detail in this document.

Be sure to do your own diligence.

Assume that every project posted is a scam/rug/honeypot until proven otherwise. Use tools such as www.bscheck.eu/ and https://tokensniffer.com to help you determine if this project is legitimate, but do not solely rely on these tools.

League of Shibas - Community Coin - [Freshly Launched] - Giveaways and more - Mooning

BSC Token

Seeing how the market's been lately, a lot of people have been succumbing to the red, cutting losses and selling at a deficit, It's easy to feel scared, desperate, and even depressed. I understand! We're all in this together. That's why I am introducing the League of Shibas, a coin for the community.

By buying and holding $LSHIBAS, you can sleep soundly, knowing your pockets are packing while you snooze. This upcoming token is not only deflationary, but will reward holders for every transaction they make! In fact, if you keep holding, you'll find yourself a part of a wonderful community and team that holds daily, weekly, and monthly giveaways. If that wasn't enough, the team will also be giving airdrops from their OWN WALLETS. Burning milestones will also be held, where tokens will be burnt every 2,000 holders!

In case you're worried about the token running out of steam, you can rest assured knowing that the $LSHIBAS team has a dedicated marketing team, partnered with different influencers to help the community grow. It's also listed on Coinhunt, and was featured on their Twitter!

Also, unlike other “community” tokens, LoShiba is dedicated to providing a safe haven for investors. Liquidity will be locked, and contract ownership will be renounced.

The gorgeous website perfectly details the tokenomics, roadmap, and mechanics of this coin:

In case you want the details quick, here's the good stuff:

Tokenomics

Total Supply: 1,000,000,000

Liquidity Tokens: 950,000,000

Marketing, Giveaways, Manual Burn: 50,000,000

Liquidity will be locked

Contract ownership will be renounced

11% fee

1% redistributed to holders

2% burned

8% liquidity

Fair Launch Details (already launched!)

Launching at 3,000 members

20 BNB Liquidity

950000 tokens max txn on listing (avoid whales)

Initial price @ 47,500,000 tokens / 1 BNB

Initial market cap @ $6,000

Voyager Digital Reports Record Revenues of US$60 Million with a 50% Operating Margin Generating an Operating Profit of $30 Million for the Fiscal Third Quarter

May 25, 2021 4:05 PM ET
Canada Newswire

Company Continues to Experience Accelerated Growth in April and May

Verified Users Currently Exceed 1.6 Million

NEW YORK, May 25, 2021 /CNW/ - Voyager Digital Ltd. (VYGVF) ("Voyager" or the "Company") (CSE: VYGR) (OTCQB: VYGVF) (FRA: UCD2), today announced financial results for its third quarter of fiscal 2021, which ended March 31, 2021.

https://mma.prnewswire.com/media/1518253/Voyager_Digital__Canada__Ltd__Voyager_Digital_Reports_Record_Rev.jpg

Voyager reported another record quarter, with momentum continuing in the fiscal fourth quarter to date.

Total revenue in the fiscal 2021 third quarter increased to US$60.4 million, up over 16x from US$3.6 million in the fiscal 2021 second quarter.

Operating profit of US$30 million for the fiscal third quarter, with an operating margin of 50% - the Company's first-ever quarter of operating profit.

The Company ended the fiscal 2021 third quarter with adjusted working capital of US$197 million.

US$5 billion of principal volume traded for the fiscal 2021 third quarter, compared to US$350 million of principal value traded in the fiscal second quarter.

May new funded accounts already have well exceeded the entire month of April, exceeding 1.6 million verified accounts as of today.

"Voyager reported another record period with strong third quarter results. This momentum has continued into our fiscal 2021 fourth quarter to date, as we continue to see an acceleration in all of our key metrics," said Steve Ehrlich, Voyager's CEO and Co-founder.

"It is clear that Voyager's strategy to be the most consumer-friendly, transparent, and easy-to-use platform with leading offerings of altcoins and interest-yielding assets has gained significant market share. Our focus on a wide range of coins has contributed to a long-term economic model with fiscal third-quarter operating margins increasing to 50%. Given our success to date, we anticipate that our operating margin should continue to scale in future periods."

During the fiscal 2021 third quarter, Voyager continued to make significant upgrades to its systems infrastructure and staff with a focus on platform security, scalability and customer support. Since calendar year-end, the Company has increased its headcount by approximately 4x in support of these initiatives and Voyager's rapid growth.

Mr. Ehrlich continued, "In the March quarter, we saw exponential adoption of cryptocurrencies as a recognized and investable asset class, which translated into significant growth for Voyager. The U.S. market continues to outperform given our compelling and competitive differentiation. The management team is committed to continuing our strong execution, even as we expand our international market reach. Our team is extremely proud of what we have accomplished to date."

For more detailed information, the Company encourages investors to read its interim financial statements and related Management Discussion & Analysis ("MD&A") for the three and nine months ended March 31, 2021, which will be filed with SEDAR today.

Conference Call

The Company will conduct a conference call today at 5:00 p.m. (Eastern Time) to review the results as well as provide an overview of the Company's recent milestones and growth strategy. A live webcast of the conference call can be accessed here: webcast link.

For more information on Voyager Digital, please visit https://www.investvoyager.com. The Voyager App is available for Android and iPhone.

About Voyager Digital Ltd.

Voyager Digital Ltd. is a publicly traded holding company whose subsidiaries operate a crypto-asset platform that provides retail investors with a seamless solution to trade crypto assets. The Voyager Platform provides its customers with competitive price execution through its smart order router and as well as a custody solution on a wide choice of popular crypto-assets. Voyager was founded by established Wall Street and Silicon Valley entrepreneurs who teamed to bring a better, more transparent, and cost-efficient alternative for trading crypto-assets to the marketplace.

Please visit us at https://www.investvoyager.com for more information.