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San Francisco, USA / California, November 7th, 2024, Chainwire

Tony Vejseli, along with Figure Markets Holdings Inc. and GXD Labs, LLC (collectively “the Group”), today issued a response to Ionic Digital’s recent FAQ published on November 1, which aimed to address shareholder inquiries. The FAQ release followed an in-person meeting between the Group and Ionic Digital’s board of directors on October 28 in White & Case’s offices in midtown Manhattan. 

The Group acknowledges Ionic Digital’s attempt to clarify with shareholders through recent communication after a period of limited updates. However, the Group raised concerns that certain details provided in the FAQ do not accurately reflect the current state of Ionic Digital’s governance, mining costs, and shareholder potential liquidity. The Group has issued a rebuttal to the Company’s FAQs, expressing reservations about several responses that the Group believes may mislead shareholders and lack the full transparency needed to maintain confidence. 

The Group remains committed to enhancing transparency around Ionic Digital’s financial and operational metrics to safeguard shareholder interests. To that end, the Group has proposed a special meeting for shareholders to discuss a potential change in the board of directors, suggesting the replacement of board members Tom DiFiore, Scott Duffy, and Emmanuel Aidoo.

“Unfortunately, again, Ionic Digital’s response is littered with inaccuracies which leave shareholders asking more questions rather than getting the answers to which they are entitled,” said Mike Cagney, CEO and Founder of Figure Markets. “The promotion of the board of directors' self-interests must be stopped. The only way to maximize value and liquidity is to effectuate change which necessitates the dismissal of these board members from their duties.”

Shareholders are invited to review the Group’s rebuttal to the FAQ and consider supporting the proposed special meeting by completing the form to participate in the vote on potential board adjustments.

About Figure Markets

Figure Markets is democratizing finance through blockchain technology, creating a decentralized marketplace for diverse asset classes, including crypto, stocks, bonds, and credit. The platform aims to empower members with control over their assets, leveraging blockchain to replace traditional intermediaries and provide a seamless experience with enhanced leverage, liquidity, and borrowing options.

Backed by leading venture capital and strategic partners such as Jump Crypto, Pantera, Distributed Global, Faction Lightspeed, NewForm Capital, and CMT Digital, Figure Markets is led by experienced professionals from traditional finance, fintech, and DeFi, including co-founders Mike Cagney and June Ou.

For more information, users can visit Figure Markets.

About GXD Labs

GXD Labs is a digital asset and blockchain operating, investment, and advisory business. They participate in all parts of the digital asset universe, through public and private investments, complex asset recovery, litigation and wind-down efforts, and strategic planning, growth, liability management, and restructuring services. GXD Labs is an affiliate of Atlas Grove Partners.

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