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AITX Expands Market Reach with 20% Growth in Channel Partners

RazorPitch AITX

The global security robots market, valued at USD 27.32 billion in 2021, is projected to grow at a compound annual growth rate (CAGR) of 17.65% during the forecast period. This growth is driven by escalating security concerns and the increasing adoption of advanced automation techniques worldwide. Artificial Intelligence Technology Solutions, Inc. (OTC: AITX) is capitalizing on these trends, recently achieving significant milestones in revenue and expanding its distribution network. Market Context and Demand Drivers The demand for security robots is increasing due to several key factors, including geopolitical instabilities and substantial government investments in security technologies. These robots' advanced capabilities, such as operating in challenging terrains and hazardous environments and performing analytical surveillance, are driving their adoption globally. Additionally, improvements in sensor technology and automation, alongside advancements in neural technology, are enhancing the functionality and adoption of these robots. About Artificial Intelligence Technology Solutions AITX is at the forefront of delivering AI-based solutions that empower organizations to gain new insights, address complex challenges, and foster innovative business ideas. Through its next-generation robotic product offerings—RAD-I, RAD-R, RAD-M, and RAD-G—the company helps organizations streamline operations, increase ROI, and enhance business efficiency. AITX's technology simplifies and reduces the cost of patrolling and guard services, allowing experienced personnel to focus on more critical tasks. The solutions are widely applicable across multiple industries, including enterprises, government, transportation, critical infrastructure, education, and healthcare. Q1 FY 2025 Revenue Surge On June 17, 2024, AITX announced a notable increase in its recurring monthly revenue (RMR) for the first quarter of fiscal year 2025, marking a 385% year-over-year growth. The company's unaudited operating revenue for Q1 FY 2025 stood at $1,098,975, up from $384,277 in the same quarter of the previous fiscal year. This significant milestone underscores the company's ongoing exponential growth. Steve Reinharz, CEO/CTO of AITX, expressed his satisfaction, stating, "Achieving continuous, exponential growth is what we forecasted, and what we have delivered once again. Although we have smartly added some general expenses in sales, support, and development, we remain committed to operational profitability this fiscal year. It’s important that we position ourselves to be a dominant player in the solar security tower market, support the launch of AIR in our Gen4 solutions, and prepare for the upcoming relaunch of ROAMEO. I am pleased to say we are on track." Recent Update: Expansion of Channel Partners On June 25, 2024, AITX announced a significant milestone: a 20% expansion of its distribution channel partners over the past six months. This growth underscores AITX's commitment to extending its market reach and solidifying its position as a leader in AI-driven security solutions. “The expansion of our distribution network is a clear indicator of the trust and confidence our partners have in RAD’s technology. This 20% increase in channel partners will allow us to reach even more customers and provide them with the security solutions they need to protect their assets and people,” said Troy McCanna, Senior Vice President of Revenue Operations at RAD. Mark Folmer, President of RAD, echoed this sentiment, highlighting the strategic value of these partnerships: “Each of our channel partners brings a unique set of clients and immediate opportunities to RAD. Their diverse portfolios and strong relationships within their respective markets are invaluable. We are excited about the potential each partnership holds and are confident that together, we can deliver unparalleled security solutions to a wider audience.” RAD's distribution network now includes 83 partners covering the US, Canada, and the European Union. One of the standout products driving this expansion is the ROSA™ system, a compact, self-contained, portable security and communication solution. ROSA™ can be installed and activated in about 15 minutes and features AI-driven security analytics such as human, firearm, and vehicle detection, license plate recognition, responsive digital signage, and audio messaging. It also integrates seamlessly with RAD’s software suite for notifications and autonomous responses, offering two-way communication optimized for cellular, including live video from its high-resolution cameras. Looking ahead, AITX remains committed to scaling its operations and enhancing its technological capabilities. The company is investing in research and development to introduce new features and products that align with market demands and client needs. With a prospective sales pipeline that includes over 35 Fortune 500 companies, AITX is well-positioned for sustained growth. Conclusion AITX's recent achievements and the broader market dynamics highlight the potential for substantial growth in the security robots market. The company's focus on AI-driven solutions and recurring revenue models positions it well to capitalize on the increasing demand for advanced security technologies. As AITX continues to innovate and expand its market presence, the future looks promising, with significant opportunities for further growth and development, making AITX an OTC stock to watch. Disclaimers: RazorPitch Inc. "RazorPitch" is not operated by a licensed broker, a dealer, or a registered investment adviser. This content is for informational purposes only and is not intended to be investment advice. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled. RazorPitch has been retained and compensated by Cambridge Consulting to assist in the production and distribution of this content. RazorPitch is responsible for the production and distribution of this content. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by RazorPitch or any third party service provider to buy or sell any securities or other financial instruments. All content in this article is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in this article constitutes professional and/or financial advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. RazorPitch is not a fiduciary by virtue of any persons use of or access to this content. Contact Details Mark McKelvie +1 585-301-7700 mark@razorpitch.com Company Website http://razorpitch.com

July 01, 2024 06:00 AM Eastern Daylight Time

DOGE’s Rebound Attempt Fails, Amid Raboo’s Dominating Price Action Surpassing Rival Coin Pepe

Total Media

The cryptocurrency market is expanding, but so is the volatility. On one hand we have Dogecoin on a bullish trend, on the other hand we have Pepe on a bearish trend. Raboo, a new AI meme coin has appeared with loads of amazing features. Raboo is still in its presale and has raised over $1.6 million, which is very impressive. Analysts expect the Initial Coin Offering (ICO) to grow 233% during presale and 100x on launch day. Keep reading to find out more. DOGE attempts to validate bullish pattern Dogecoin is presently trading in a bullish wave. But the coin may not be able to maintain the pattern to start meaningful price climb, if investors do not take control. The dynamics around DOGE are being keenly watched by the market. This is because changes in its price could have an impact on the altcoin market as a whole. The distribution of Dogecoin's supply among its holders is showing a noticeable shift, which could lead to additional declines in the meme coin's price that'll be presented on a daily chart. The shift in ownership of DOGE mid- and long-term investors to short-term holders raises questions over the stability of the altcoin price. The amount of DOGE held by short-term holders has increased significantly over the last month. It has increased from 10.5 billion DOGE to 13.4 billion DOGE. This noteworthy expansion emphasizes the growing tendency toward short-term trading activity, which may increase market volatility. Pepe: bulls struggle to recover from downward trend Pepe is down by 27% from its all time high in May this year, however, some traders think the coin could become victorious, especially if Bitcoin’s BTC/USD performance picks up. A recent deal was released by Binance, for cryptocurrency users who want to earn PEPE coins simply by buying and holding PEPE for increased interest rates. Users can get rewards if they send at least $0.01 using Binance Pay for the first time. With this promotion, cryptocurrency users can win up to 100 million PEPE coins. The price of PEPE coins has been dropping lately. PEPE saw a 7.84% decrease in value following the announcement of Binance Pay's offer. Investors are switching to Raboo since the PEPE coin price prediction does not yet present any advantages. Satoshi, a popular crypto analyst, detailed in a tweet the wave patterns he observed on the Pepe chart and predicted a wave of 3 candles. He also suggested that there might be a mirror wave 2 retracement before the green candle happens. The altcoin price still has a chance of going bullish and even breaking it all time high. But only patient enough investors will witness this. Raboo grabs investors attention with 100x potential Raboo ($RABT) is a popular new meme coin that is making waves in the market as an Initial Coin Offering (ICO), demonstrating why ICOs are fantastic avenues for making investments. Raboo's initial coin offering (ICO) offers investors the opportunity to participate in cutting-edge initiatives from the very beginning. By incorporating artificial intelligence to improve user engagement and content creation, Raboo sets itself apart from other meme coins. Raboo stands out in the competitive meme coin market thanks to its AI-driven strategy, which also highlights the company's potential for significant expansion and influence in the cryptocurrency field. By taking part in the Raboo presale, investors will become a part of a ground-breaking initiative that uses artificial intelligence (AI) to reimagine the meme coin genre, providing a special fusion of community, technology, and entertainment. Raboo’s presale is now underway, with tokens available at $0.0048, analysts say $RABT can easily explode 100x by the time it hits the markets this year. Conclusion Between the rise of Dogecoin and Pepe's price, Raboo is standing out as the best crypto to invest in this year. Meme coins are now making noise, becoming the money makers of the crypto market. Raboo is very affordable, giving the opportunity for anyone to join in. Small risk for a great reward. Even though it is yet to launch, Raboo has aimed to be a top 20 coin and it is currently on the right path. You can participate in the Raboo presale here: Telegram: https://t.me/RabootokenPortal Twitter: https://twitter.com/Raboo_Official Contact Details Total Media Solutions media@Totalsolutionspr.io Company Website https://rabootoken.com

June 30, 2024 12:00 PM Eastern Daylight Time

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News Release

Serve Robotics Expands Delivery Operations into Koreatown with Enhanced Fleet Technology

Serve Robotics

Serve Robotics CEO Dr. Ali Kashani joined Steve Darling from Proactive to announce the expansion of the company's delivery operations into Koreatown. This move is part of Serve's long-term plan to broaden its geographic reach in Los Angeles and across the U.S. Koreatown was selected for its dense and vibrant commercial hub, growing residential community, and well-maintained sidewalk infrastructure, which are ideal for robotic delivery. This coverage expansion follows ongoing collaboration with the Los Angeles city government and local stakeholders. In preparation for scaling up its fleet for future expansions, Serve has announced the signing of an expanded supply agreement with Ouster, Inc. This agreement will equip Serve's next-generation robots with the latest-generation lidar sensors, providing equipment for 2,000 robots. Lidar technology is critical to Serve's autonomy stack, enabling the robots to perceive their environment, identify their precise location, and safely navigate alongside pedestrians and other sidewalk users. Serve anticipates that the new sensors will improve the safety, speed, and cost-effectiveness of its fleet. This strategic expansion and technological enhancement highlight Serve Robotics' commitment to advancing its autonomous delivery services and meeting the growing demand for efficient, sustainable delivery solutions. Contact Details Proactive North America +1 604-688-8158 na-editorial@proactiveinvestors.com

June 28, 2024 04:09 PM Eastern Daylight Time

Video

Flash Appoints Chris Donus as President

Flash Parking

Flash, the leading end-to-end parking technology platform, today announced that Chris Donus, the current CFO, has been appointed president of the organization. In the newly established role, Donus will expand his focus on day-to-day operations, working closely with the leadership team to execute transformative strategies that include the expansion of Flash’s burgeoning digital demand network, EV charging and parking platform scale, and driving the company’s regionalized branch organization to deliver unmatched partner experiences. Dan Sharplin will continue in his role as Chairman and CEO, focusing on international growth, strategic transactions, and ecosystem partnerships. “This promotion reflects Chris’s exceptional leadership and expertise at this time of tremendous momentum for Flash as we rapidly scale our industry-leading parking and EV charging digital ecosystem," said Flash CEO Dan Sharplin. “In the next 24 months, we anticipate more transformation in the parking industry than we’ve seen in several decades prior. Chris has the relevant experience to ensure we execute on our priorities that allow us to drive this industry transformation.” “We are building a parking and EV charging ecosystem where a seamless driver experience benefits everyone,” said Donus. “There is an incredible amount of innovation and hard work being done across Flash to build the platform and partnerships that further our position as the leader in parking and EV Charging technology. I look forward to ensuring the value we create is incomparable in my role as President of Flash.” Before Flash, Donus served as COO and CFO at Wheel Health, a venture-backed telehealth platform developer designed to connect companies and clinicians to deliver virtual care. He also served in senior leadership roles at Lyft as VP and Business Unit leader of Express Drive, the customer-facing fleet line of business, generating over $400 million in rental revenue and over $2 billion in Lyft rides. Prior to that, he was president of Silvercar from 2015 to 2018 alongside roles as COO, from 2017 to 2018, and CFO from 2012 to 2015. He has also served in leadership roles at Freescale Semiconductor, Hertz Global Holding, and Lucent Technologies. About Flash Flash is a pioneering technology company bringing seamless parking and EV charging experiences to drivers through a first-of-its-kind digital ecosystem. Flash’s platform connects reservable parking and charging in the apps drivers use every day with garage, surface lot, event, and valet parking locations—connected and controlled via a cloud-based operating system with unrivaled intelligence. Customer-obsessed brands partner with Flash to deliver digital, easy-to-use, reliable, and increasingly frictionless experiences to drivers eager to pay for a solution that eliminates wasted time, excess emissions, and stress. The solution has arrived. Contact Details Razor Sharp PR Ray Young +1 512-694-6097 ray@razorsharppr.com Company Website https://www.flashparking.com/

June 27, 2024 10:00 AM Central Daylight Time

What's Trending Now - Summer Must-Haves

News Media Group, Inc.

Contact Details News Media Group, Inc. Karl Wayne +1 334-440-6397 karl@newsmg.com Company Website https://newsmg.com/

June 27, 2024 07:00 AM Eastern Daylight Time

Video

Chin Mounts Launches Revolutionary Helmet Mounts for Action Cameras

Rev Up Marketers

Chin Mounts is excited to introduce its latest line of helmet mounts for action cameras. These mounts offer motorcyclists and mountain bikers a secure and innovative way to capture their adventures. The new mounts feature a low-profile design that minimizes interference and ensures maximum stability. They are compatible with a wide range of helmets and action cameras, including GoPro and Insta360 models. Made from high-quality materials, these mounts are built to last and perform well in various weather conditions. A key feature of these mounts is their custom fit, designed to accommodate over 800 different helmet models from brands like AGV, Arai, Bell, Fox, HJC, and Shoei. This extensive compatibility ensures that users can find the perfect fit for their specific helmet, providing optimal camera positioning and reducing neck strain during long rides. Installation is simple, using high-strength 3M adhesive tape and stainless steel fasteners. There's no need for specialized tools, making the process accessible for all riders. Additionally, the mounts can be easily removed, allowing users to switch between different helmets or adjust the mount's position as needed. By offering a stable and secure way to mount action cameras, Chin Mounts enables riders to capture high-quality footage of their journeys, enhancing the overall riding experience. The lightweight design adds minimal extra weight to the helmet and reduces wind resistance, contributing to a comfortable and enjoyable ride. About Chin Mounts is committed to enhancing the riding experience for motorcyclists and mountain bikers. Based in Vancouver, BC, Canada, the company focuses on delivering high-quality, durable, and user-friendly products that meet the needs of adventure enthusiasts worldwide. Contact Details Chin Mounts Matthew Engelage info@chinmounts.com Company Website https://chinmounts.com/

June 27, 2024 06:27 AM Eastern Daylight Time

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AITX Reaches New Heights as Q1 FY 2025 Revenue Soars

RazorPitch AITX

The global security robots market, valued at USD 27.32 billion in 2021, is projected to grow at a compound annual growth rate (CAGR) of 17.65% during the forecast period. This robust growth is driven by a variety of factors, including escalating security concerns, the increasing adoption of advanced automation techniques worldwide, and more. Among the companies benefiting from this trend is Artificial Intelligence Technology Solutions (OTC:AITX ). AITX is a prominent player in the field of AI-driven security and productivity solutions and has recently announced a significant milestone, marking its first-ever quarter with over $1 million in total revenue. Market Context and Demand Drivers Several key factors contribute to the rising demand for security robots. Increasing geopolitical instabilities and the potential for substantial government investment in security advancements are creating favorable conditions for market growth. Security robots' advanced capabilities, such as operating in challenging terrains and hazardous environments, performing analytical-based surveillance, and other complex tasks, are driving their adoption across various countries. Improvements in sensor technology and high automation capabilities, coupled with advancements in neural technology that enhance functionality over time, are also positively impacting market growth. Artificial Intelligence Technology Solutions AITX is at the forefront of delivering AI-based solutions that empower organizations to gain new insights, address complex challenges, and foster new business ideas. Through its next-generation robotic product offerings—RAD-I, RAD-R, RAD-M, and RAD-G—the company helps organizations streamline operations, increase ROI, and enhance business efficiency. AITX's technology simplifies and reduces the cost of patrolling and guard services, allowing experienced personnel to focus on more critical tasks. The solutions are widely applicable across multiple industries, including enterprises, government, transportation, critical infrastructure, education, and healthcare. Recent Milestone: Q1 FY 2025 Revenue Surge On June 17, 2024, AITX announced a remarkable increase in its recurring monthly revenue (RMR) for the first quarter of fiscal year 2025, marking a 385% year-over-year growth. The company's unaudited operating revenue for Q1 FY 2025 stood at $1,098,975, up from $384,277 in the same quarter of the previous fiscal year. This significant milestone underscores the company's ongoing exponential growth. Steve Reinharz, CEO/CTO of AITX, expressed his satisfaction, stating, "Achieving continuous, exponential growth is what we forecasted and what we have delivered once again. Although we have smartly added some general expenses in sales, support, and development, we remain committed to operational profitability this fiscal year. It’s important that we position ourselves to be a dominant player in the solar security tower market, support the launch of AIR in our Gen4 solutions, and prepare for the upcoming relaunch of ROAMEROAMEO pleased to say we are on track." Strategic Moves and Future Potential The company highlighted that over $125,000 in RMR, representing $375,000 in quarterly recurring revenue, has yet to be deployed. Mark Folmer, President of Robotic Assistance Devices, Inc. (RAD), a wholly-owned subsidiary of AITX, mentioned, "The transition to our Gen4 solutions could be another driving force for RAD this year. But even without Gen4 fully launched, we continue to receive re-orders from both large and smaller clients." Troy McCanna, RAD’s Chief Security Officer & Senior Vice President of Revenue Operations, shared his enthusiasm: "We are absolutely thrilled that during one month of the first quarter, we saw a staggering 385% year-over-year increase in RMR. Our clients’ enthusiastic adoption of RAD’s technology is a clear indicator that we are on the right track. Going forward, several clients have verbally confirmed orders, and we are awaiting those contracts before making the related announcements." AITX 's recent achievements and the broader market dynamics highlight the potential for substantial growth in the security robots market. The company's focus on AI-driven solutions and recurring revenue models positions it well to capitalize on the increasing demand for advanced security technologies. As the company continues to innovate and expand its market presence, the future looks promising, making AITX a stock to watch. Disclaimers: RazorPitch Inc. "RazorPitch" is not operated by a licensed broker, a dealer, or a registered investment adviser. This content is for informational purposes only and is not intended to be investment advice. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact may be forward looking statements. Forward looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements in this action may be identified through use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quote; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investors investment may be lost or impaired due to the speculative nature of the companies profiled. RazorPitch has been retained and compensated by Cambridge Consulting to assist in the production and distribution of this content. RazorPitch is responsible for the production and distribution of this content. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained in this article constitutes a solicitation, recommendation, endorsement, or offer by RazorPitch or any third party service provider to buy or sell any securities or other financial instruments. All content in this article is information of a general nature and does not address the circumstances of any particular individual or entity. Nothing in this article constitutes professional and/or financial advice, nor does any information in the article constitute a comprehensive or complete statement of the matters discussed or the law relating thereto. RazorPitch is not a fiduciary by virtue of any persons use of or access to this content. Contact Details RazorPitch Inc Mark McKelvie +1 585-301-7700 mark@razorpitch.com Company Website http://razorpitch.com

June 27, 2024 06:00 AM Eastern Daylight Time

HTX Debuts "Earn with Pending Orders" Event: Join Now for a Share of 25.7B $HTX!

HTX

On June 26 (UTC), HTX introduced the "Earn with Pending Orders" event, offering non-stop rewards in 24/7 hours. By participating, users have the chance to share a prize pool of 25.7 billion $HTX. This event marks another significant initiative launched by HTX following the "Trade to Earn" event, aimed at innovating and enhancing the user experience. Through these innovative events, HTX hopes to offer users the combined enjoyment of trading and mining, while ensuring they experience secure and efficient trading services. "Earn with Pending Orders": A New Trading Experience HTX's "Earn with Pending Orders" evaluates the order book status within the platform's trading market. At regular intervals, snapshots of pending orders for the designated trading pair will be taken to determine whether the prices at which users place their orders fall within a valid range around the current market bid and ask prices. Subsequently, rewards will be calculated based on the order amount each user has placed. ● Random Minute-by-Minute Snapshots: Ensuring Transparency and Fairness The first phase of HTX's "Earn with Pending Orders" event will last from 10:00 (UTC) on June 26, 2024, to 10:00 (UTC) on July 3, 2024, featuring BTC/USDT as the designated spot trading pair. The platform will snapshot pending orders randomly once per minute to record their status. Pending orders must be limit orders with a minimum amount of 100 USDT at the time of the snapshot. Additionally, the price of pending orders should not deviate by more than 0.5% from the latest executed price (closing price) at the time of the snapshot. Here is an example. Let's assume the latest executed price (closing price) at the time of the snapshot for BTC/USDT is 60,000 USDT. The threshold range is ±0.5%. Therefore, the upper limit price for pending orders will be 60,300 USDT (calculated as 60,000 x 1.005), and the lower limit price will be 59,700 USDT (calculated as 60,000 x 0.995). Therefore, valid pending orders must have prices at the time of the snapshot between 59,700 USDT and 60,300 USDT (59,700 USDT < Pending order price < 60,300 USDT). ● Mega Prize: Enjoy Nonstop Rewards in 24/7 Hours The event boasts a total prize pool of 25,700,000,000 $HTX, with a daily prize pool of 3,675,569,713 $HTX, and a per-minute prize pool of 2,552,478 $HTX. During the event, users will share the per-minute prize pool proportionally based on the amounts of their valid pending orders. However, the hourly reward cap for each user in this event is 85,763,293 $HTX. A user will not receive rewards if either the reward limit for the participant or the prize pool limit is reached. Example: Let's assume that, in a specific minute, the total amount of all eligible pending orders is 1,000 USDT, and User A has a pending order amounting to 100 USDT. According to the provided reward calculation formula, User A's reward can be calculated as 2,552,478 $HTX * (100/1,000). Therefore, User A would receive a reward of 255,247.8 $HTX for that minute. Please note that users need to click "Register Now" in the announcement to participate in the event. Event Details: https://www.htx.com.jm/support/en-us/detail/74973710050124 Putting Users First: Meeting Diverse Demands HTX has always been committed to delivering users worldwide secure, diversified, and efficient trading services for digital assets. Since its establishment, HTX has always upheld a user-first philosophy, consistently innovating and improving user experiences to meet their diverse demands. HTX expressed its desire to drive the development of the cryptocurrency industry through innovative events and products such as "Earn with Pending Orders", seeking to grow together with users and foster value creation. About HTX Founded in 2013, HTX has evolved over a decade from a simple cryptocurrency exchange to a comprehensive blockchain business ecosystem. This expansion covers a wide range of services including digital asset trading, financial derivatives, wallets, research, investments, incubation, and more. As a world-leading portal to Web 3.0, HTX is committed to a growth strategy focused on global expansion, ecological prosperity, wealth effect, and safety and compliance. This approach enables us to offer comprehensive, safe, and reliable services and value to virtual currency enthusiasts around the world, reinforcing our position as a global gateway to Web3. Contact Details Miffy Chu glo-media@htx-inc.com Company Website https://www.htx.com/

June 27, 2024 02:05 AM Eastern Daylight Time

TRON Founder Justin Sun Wins Landmark Case in the People's Court of China

TRON DAO

Geneva Switzerland, June 26, 2024 – TRON DAO welcomes an unprecedented victory by its founder Justin Sun in the People’s Court of China over a landmark defamation suit filed against the Chongqing Business Media Group (“ the Media ”). Per court order, the Media has removed all of its false contents and issued a formal statement of apology to Sun, who has long been a target of media misrepresentations. The Media acknowledged in the statement that it had published false and defaming contents without fact-check or evidence, severely damaging Sun's reputation. “The rumor-monger has finally published an apology on the People’s Court’s website,” Sun said on an X post. “Although it took two years, justice has arrived.” The apology came after a two-year legal battle. Following hundreds of hours of fact-finding and a thorough trial, the Chongqing Yubei District Court ruled in the first instance that the Media broke the law and defamed Sun by publishing entirely unverified media contents, including an article and a video. The court ordered the defendant to retract all false contents and issue a public apology to Sun in a national newspaper. Neither party appealed the decision within the stipulated time frame, making the ruling final judgment. For Sun, the victory serves as a strong rebuttal to numerous widespread rumors and restores his personal reputation. The court reviewed extensive evidence and documentation from both sides before arriving at the verdict. The verdict sends a strong signal to all media outlets: citing unverified sources and spreading unsubstantiated information is likely breaking the law and tarnishing their own reputations. The Buried Truth in a Storm of Media Hysteria The case dates back to March 11, 2022 when the Media published an article on its news platform eastmoney.com. The article stated that Sun "was involved in insider trading," "fled abroad to evade the ICO ban," "engaged in fraud and money laundering," and "was under investigations by the IRS and the FBI," among other claims. The baseless article quickly went viral, getting picked up by many other media outlets, and severely damaging the reputations of both Sun and the TRON ecosystem. These reports cited an opinion piece about Sun published by The Verge in March 2022. That piece included a series of “interviews” with anonymous sources who all vividly described Sun's alleged wrong-doings Hollywood-style. While the story was purposefully sensationalized, the author cleverly dropped a disclaimer at the end acknowledging that he could not obtain any comments from any relevant authorities to substantiate any claims in the article. In essence, the opinion piece presented unverified stories and acknowledged them as hearsay. Similar media peppered their audience with buzzwords like "money laundering," "insider trading,” "investigations," etc. In their rush to maximize exposure and clicks, these desperate media outlets quickly amplified the article in order to make it go viral in no time. Amid this frenzy, any disclaimers on lack of evidence or unsubstantiated claims were conspicuously and conveniently ignored by the media, either intentionally or inadvertently. Defendant Guilty After Lengthy Two-Year Legal Battle During the trial, the People's Court of China scrutinized every detail, from the original The Verge article, the Media ’s recreated contents, to the interpretations made by all other domestic media during reproduction. The court concluded that The Verge's article lacked concrete evidence entirely and the Media 's report was devoid of any factual basis, which materially violated Sun's reputation. The court underscored that the original article’s authenticity was only confirmed by the author, and it was acknowledged in the article that none of the aforementioned authorities had validated any information presented. In the final verdict, the People’s Court of China ruled that all claims of Sun's alleged involvement in insider trading, fraud, money laundering, or any other claimed investigations and other alleged wrong-doings, are entirely unsubstantiated. During this two-year battle, all false claims made by the Media failed to withstand scrutiny. This lengthy due process has brought the truth to light by using facts and legal measures to debunk misinformation and disinformation. This final judgment rectified the injustices Sun has long endured and presented a legal precedent for the broader blockchain community on how unfounded rumors should be handled and dispelled. Significance of the court ruling: The Internet is not a legal vacuum, and the doers are safeguarded by law The final ruling of the case does not hand victory over to Sun alone but also upholds the rights of individuals who are committed to their causes but fall victim to fabricated news coverage with ulterior motives. This ruling has raised the public's legal awareness, encouraging victims of untrue news reports to assert their own interests through legal avenues. On the other hand, this incident also alerts all content disseminators against deceptive and unreliable media sources, especially those tainted with a history of fake and biased contents. This practice runs completely against the professionalism, objectivity, and neutrality that the modern media strive to uphold. Early in 1988, the " Reply of the Supreme People's Court to the Defendant Status of Newspaper Publishers and the Application of Jurisdiction in Cases of Infringement of the Right to Reputation " already made it clear that news agencies have verification obligations for the news reports they publish, and both the author and the news agency shall be held legally accountable for a publication's infringement of other individuals' right to reputation, in which case they may be made the co-defendants. This legal document, among many others, indicates that infringement resulting from the edition and publication of unverified information and articles will incur legal liabilities. If the infringed party is willing to arm themselves with the law and provide concrete evidence in court, it's highly likely that the involved media will lose the case. Sun's landmark win is a moment of reckoning for the long-standing rumors floating around the internet. It is also a victory of the rule of law. The ruling has not only safeguarded the legitimate rights of Sun but also discouraged the spread of misinformation and disinformation. While pursuing newsworthy content is the common goal, journalism must adhere to professional ethics by ensuring facts are authentic and accurate. About TRON DAO TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps. Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of June 2024, it has over 239.72 million total user accounts on the blockchain, more than 7.91 billion total transactions, and over $20.60 billion in total value locked (TVL), as reported on TRONSCAN. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | Forum Media Contact Hayward Wong press@tron.network Contact Details Hayward Wong press@tron.network Company Website https://trondao.org/

June 26, 2024 05:58 PM Eastern Daylight Time

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