• Coinsilium's 2023 financial turnaround and Web3 expansion as it inks new partnership

  • Jul 4 2024
  • Duración: 10 m
  • Podcast

Coinsilium's 2023 financial turnaround and Web3 expansion as it inks new partnership Por arte de portada

Coinsilium's 2023 financial turnaround and Web3 expansion as it inks new partnership

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  • Coinsilium Group Limited CEO Eddy Travia and chief financial officer Ben Proffitt talked with Proactive's Stephen Gunnion about the company’s significant progress and achievements over the past year. Proffitt provided a detailed overview of the company's financial recovery in 2023. After a challenging 2022, where they faced £1.3m in impairments and an overall loss of £2m, the company reported a much improved £660,000 loss in 2023. This recovery was driven by rising cryptocurrency prices and a lean operational strategy. Proffitt highlighted that Coinsilium ended the year with around £300,000 in cash and £500,000 in crypto reserves, bolstered by a recent raising of nearly £500,000. Travia discussed Coinsilium's operational strides, including the acquisition of Web3 advisory services business Tokenomi and collaborations with various Web3 projects. Notable investments include Silta Finance, Yellow Network, and SSV Network. He also announced a new partnership with Liteflow and a fresh investment in Otomato, emphasising the potential for automation in the blockchain space. Travia shared insights into the strategic importance of the recent deals and the positive impact of rising crypto prices on the company’s outlook for 2024. He expressed optimism about the sector's future, particularly in fostering new Web3 innovations. Visit Proactive's YouTube channel for more videos, and don't forget to give the video a like, subscribe to the channel, and enable notifications for future content. #Coinsilium #Cryptocurrency #Web3 #Blockchain #CryptoInvesting #EddyTravia #BenProffitt #FinancialRecovery #CryptoMarket #InvestmentNews #ProactiveInvestors #Liteflow #Otomato #Tokenomi #Bitcoin #Ethereum #CryptoETFs #StartupInvesting #TechInnovation#ProactiveInvestors #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews
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