We are a USA based Global FinTech NASDAQ Listed Company (LFIN), providing Finance and FX Hedging solutions to Importers / Exporters / SME's across the globe powered by Artificial Intelligence & Machine Learning.
Longfin Corp. Acquires Ziddu.com, A Blockchain-empowered Global Micro-lending Solutions Provider GlobeNewswire•December 15, 2017 ">NEW YORK, Dec. 15, 2017 (GLOBE NEWSWIRE) -- Longfin Corp. (NASDAQ: LFIN), a leading global FinTech company, announces the acquisition of Ziddu.com, a Blockchain-empowered solutions provider that offers Microfinance Lending against Collateralized Warehouse Receipts in the form of Ziddu Coins. Ziddu Coin is a smart contract that enables SME’s, processors, manufacturers, importers and exporters using cryptocurrencies across continents. Ziddu Coins are loosely pegged to Ethereum and Bitcoin. The importers/exporters convert offered Ziddu coins into Ethereum or Bitcoin and use the proceeds for their working capital needs. At the end of the contract, importers/exporters will realize their proceeds and pay back their funds through cryptocurrencies only. Depending upon the risk profile of the counterparty, the interest will vary from 12% to 48%. “The advent of Blockchain technology has caught the imagination of the global financial services industry; blockchain is emerging as a technological revolution that is set to disrupt the financial services infrastructure. Cryptocurrencies such as Bitcoin and Ethereum will act as a global financing currency to avail credit against hard currencies of many emerging markets.” Says Venkat Meenavalli, Chairman of Longfin Corp. About Ziddu.com">About Ziddu.com Ziddu.com is a blockchain-empowered global Micro-lending Solutions Provider. The company provides SEMs with Warehouse financing backed by their commodities in warehouses. Its warehouse financing leverages blockchain technology to finance through Ziddu coins and other cryptocurrencies such as Ethereum and Bitcoin against their collateralized warehouse receipts. About Longfin Corp.">About Longfin Corp. Longfin (“LFIN”) is a US-based, global FinTech company powered by Artificial Intelligence (AI) and Machine Learning. The company, through its wholly-owned subsidiary, Stampede Tradex Pte. Ltd, delivers foreign exchange and finance solutions to importers/exporters and SMEs. Longfin also provides cryptocurrency-based financial service for importers/exporters with Ziddu coins from its blockchain-empowered subsidiary Ziddu.com. Currently, Longfin has operations in London, Singapore, Dubai, New York, Miami and India. IR Contact: Dragon Gate Investment Partners LLC Tel: +1(646)-801-2803
A lot of people going to wake up tomorrow morning very unhappy. Shares of little-known financial technology company Longfin surged 1,342 percent in two days to a market value of $3.1 billion after buying a cryptocurrency company with no revenue. To many, it was a textbook case of the mania surrounding digital currencies these days. Amazingly, the CEO doesn't disagree. "This market cap is not justified," the company's CEO and Chairman Venkat Meenavalli said Monday on CNBC's "Fast Money." "I valued my IPO pricing at $5." "We are a profitable company. ... We have nothing to do with this euphoric mania," Meenavalli said, later adding again that current market value the company has reached "is not a reality." https://www.cnbc.com/2017/12/18/ceo...y-stock-this-market-cap-is-not-justified.html
Know this was one of the greatest (delayed) IPO plays i have seen/played in a very long time - posted in the daily thread that i thought it was done around $11 on Friday & was surprised to see it up to $18 & then the $20's & didn't get into playing it until Monday but good money here for sure!
Things don't go down in a straight line, even when they deserve to. This got oversold to the downside so I would expect a bounce to re-balance. Looks like this bounce is too far to the upside now.
I've got my popcorn ready for whenever this halt is lifted - will be very fun to watch, no skin in the game. Anyone else playing this?
