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Crossover Markets Raises $12 Million Series A Funding Round Led by Illuminate Financial and DRW Venture Capital

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Crossover to use proceeds to expand its role as the leading ECN in digital assets and bring 24/7 trading to additional asset classes

LONDON, June 26, 2024 /PRNewswire/ — Crossover Markets, a digital asset technology firm focused on meeting the unique liquidity requirements of institutions, today announced that it has raised $12 million in its Series A funding round led by Illuminate Financial (Illuminate) and DRW Venture Capital (DRW VC). Illuminate and DRW VC join a growing list of strategic investors that includes institutions such as Flow Traders, Laser Digital, Two Sigma, Wintermute, and retail brokers such as Exness, Gate.io, GMO, Pepperstone, Trademax and Think Markets.

“This fundraise comes at a time when institutional market structure is changing in digital assets,” said Brandon Mulvihill, Co-Founder and CEO of Crossover Markets. “Prime brokerage and central clearing models are advancing, creating fungibility and exposing execution venues that hold clients captive. We are honored to welcome strategic shareholders who share our vision and passion to create the world’s leading execution-only trading venue for digital assets. Illuminate brings enormous depth of knowledge across the institutional landscape, and DRW adds significant expertise as one of the largest, multi-asset market makers in the world.”

“Illuminate Financial has been building out a portfolio of institutional grade digital assets infrastructure companies since 2019 as part of our thesis around the convergence of traditional finance and digital asset market structure,” said Mark Beeston, Founder and Managing Partner, Illuminate Financial. “Crossover adds best-in-class execution capability to that portfolio, serving both the immediate and long-term needs of financial institutions that wish to trade digital assets with a future-proof 24/7 low latency infrastructure that traditional markets are increasingly moving towards.”

“DRW VC has a proven track record of supporting early-stage companies committed to delivering market structure innovations both in the traditional and crypto markets,” said Kim Trautmann, Partner at DRW Venture Capital. “Crossover Markets was a natural fit for our portfolio, and we’re excited to support its experienced management team to deliver a best-in-class technology solution for digital asset trading that delivers superior execution while minimizing counterparty risk.”

Crossover also announced the addition of new Board Members. Mark Beeston, Founder and Managing Partner of Illuminate Financial, will join Crossover’s board of directors along with Kevin Wolf, CFO at American Financial Exchange and former CEO of Euronext FX.

Mulvihill added, “Digital assets market structure is experiencing a pivotal change driven by institutional needs and activity. Simultaneously, we are witnessing the early-stage emergence of discussions around 24/7 trading across traditional asset classes. CROSSx is designed to be among the fastest, highest-performance venues in any asset class. More specifically, we developed the platform to bring 24/7 trading, price precision and size precision characteristics to traditional markets where technology is lagging in such areas. Bolstering governance and broadening corporate strategy to address the needs of clients in this evolving landscape were atop our agenda when thinking about Board expansion. Mark and Kevin bring a wealth of experience that spans equities, fixed income, FX, and digital. We are elated to add dynamic leadership by welcoming Mark and Kevin to Crossover.”

Crossover Markets is best known for its execution-only electronic communication network (ECN), CROSSx, an institutional trading venue for digital assets. Its ultra-low-latency and quote-driven matching technology, combined with tailored liquidity and smart order routing, make it a destination for more competitive prices and overall lower trading costs.

Crossover Markets recently reported over $3.15 billion (USD) in notional trading value, 415,450 trades, and over 141 billion quotes processed on CROSSx in Q1 2024. With the added funding, Crossover Markets will continue to invest in its team and technology, further strengthening its position in the market.

About Crossover Markets

Crossover Markets is a digital asset trading technology firm focused on meeting the unique liquidity requirements of institutions in the cryptocurrency markets. CROSSx, the company’s execution-only cryptocurrency Electronic Communication Network (ECN), is powered by the industry’s fastest and most advanced matching engine and includes order logic that enables clients to choose with whom they want to trade. Led by a team with decades of FX trading, prime brokerage technology and artificial intelligence experience, Crossover is ushering the next big wave of institutions in the crypto market. For more information, visit www.crossovermarkets.com.

Media Contact
Forefront Communications for Crossover
crossover@forefrontcomms.com
+44 (0) 7375 288 641

View original content to download multimedia:https://www.prnewswire.com/news-releases/crossover-markets-raises-12-million-series-a-funding-round-led-by-illuminate-financial-and-drw-venture-capital-302182278.html

SOURCE Crossover Markets

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My Date with Rural China—-VOC.com.cn Unveils Season Two of I Am in Rural China

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CHANGSHA, China, Dec. 28, 2024 /PRNewswire/ — Modern China’s rural revitalization strategy is crafting a remarkable narrative of transformation across the countryside, while progressive opening-up policies encourage foreign visitors to delve deeper into the nation’s heartland. On December 26th, VOC.com.cn premiered the second season of its acclaimed series, I Am in Rural China. The show follows Teona Kvartskhava, an international guest, as she explores the villages of Hunan Province, offering viewers a firsthand look at the dynamic implementation of comprehensive rural revitalization. This captivating series invites a global audience to witness the dawn of a new era in China’s rural landscapes, showcasing the country’s evolving countryside to viewers worldwide.

Rice field came as the first surprise. Hunan is the largest rice grower and producer in China. Hunan provides the high-quality and tasty rice. Teona Kvartskhava, a foreigner hardly feeding on rice, was tempted to have plenty of it. In Qunle Village, Lixian County, Changde, she also experienced “Double Rush”, which is a time-honored agricultural event in China. An event that used to call for the joint efforts of all family members, has now become much easier thanks to technology.

Departing from Lixian County for the moment, Teona Kvartskhava embarked on an exciting trip of tastes in Rucheng, Chenzhou, Southern Hunan. Hunan people are keen and expert on peppery food and spicy taste dominates the Hunan cuisine. Hunan is also rich in varieties of peppers. Jingpo town, a well-known town where spicy food prevails. It is a producer of red cluster pepper, officially one of the hottest peppers in China. From the crowded market, to the red and yellow pepper planting base, and then to the modern processing pepper workshop, the small cluster pepper strung up all corners of the town, so that the original ordinary mountain town has become extraordinarily lively and affluent.

Of course, the “star” of the countryside here is not only agriculture, but also culture, which has also blossomed in this ancient land. As the birthplace of papermaking, China has preserved a unique handmade papermaking technique, which is used to make some “special” papers. In Shanghong Village, Liuyang, Teona Kvartskhava was lucky to meet two Chinese masters, who showed her hands-on experiences of “Gushan Tribute Paper” and “Floral Paper”. As the process progresses, the paper took shape in her hands, as if history and culture were meeting in front of her eyes, and became the “first paper” in Teona Kvartskhava’s life.

So,What’s rural China like? It’s about hospitable peasants, about various agricultural produce, about profound history and culture, about colorful intangible cultural heritage. It’s like a book telling numerous absorbing stories. Hopefully Teona Kvartskhava’ll be luckier to visit more villages for their unique interest and charm.

View original content to download multimedia:https://www.prnewswire.com/news-releases/my-date-with-rural-chinavoccomcn-unveils-season-two-of-i-am-in-rural-china-302339884.html

SOURCE voc.com.cn

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Who’s Working Remotely? Virtual Vocations Survey Highlights Evolving Jobseeker Demographics

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This survey underscores the diverse backgrounds and experiences of remote jobseekers, highlighting the growing demand for flexible work arrangements across various demographics.

TUCSON, Ariz., Dec. 27, 2024 /PRNewswire-PRWeb/ — With over 500 participants from the U.S. (69%) and international locations (31%), Virtual Vocations‘ 2024 demographics survey offers valuable insights into the evolving landscape of remote work. By comparing responses across these groups, the survey highlights shared experiences and unique challenges faced by jobseekers worldwide.

“Whether based in the U.S. or abroad, jobseekers are embracing remote roles to align their careers with their personal goals, and we’re proud to be a part of their journey.” –Laura Spawn, CEO and co-founder of Virtual Vocations

Although Virtual Vocations is a U.S.-based company, it supports international jobseekers through its fully remote job board and career resources, addressing the global demand for remote work opportunities. The company frequently receives inquiries from international members seeking to access fully remote roles, punctuating the worldwide appeal of flexible work arrangements.

“The 2024 demographics survey results reinforce what we’ve known for years—professionals around the world are seeking flexibility, balance, and opportunities to work from home,” said Virtual Vocations CEO Laura Spawn. “Whether based in the U.S. or abroad, jobseekers are embracing remote roles to align their careers with their personal goals, and we’re proud to be a part of their journey.”

Fully Remote Jobs Remain Most Desired

A significant 43% of U.S.-based jobseekers and 42% of international respondents named fully remote, no-travel jobs as their top preference. These roles, which allow employees to work entirely from home, offer flexibility, aligning with both personal and professional goals. Although occasional in-person requirements may arise, fully remote roles are favored over hybrid, partially remote, and “work from anywhere” options. These positions provide businesses with access to a broader talent pool and enable employees to prioritize workplace values and culture.

Top Industries for Remote Jobseekers

The survey also highlights four key industries attracting remote jobseekers worldwide. Information Technology (IT) stands out as the leading industry for remote roles, with significantly more job postings than any other field. Healthcare follows closely, benefiting from the growth of telehealth and remote medical roles. Customer service offers engaging opportunities for professionals interested in client interaction, while education presents a wide array of roles in online teaching, tutoring, and instructional design, fueled by the expansion of virtual learning.

Jobseekers’ Common Frustrations

Both U.S. and international jobseekers shared frustrations, particularly with online job scams. Jobseekers expressed dissatisfaction with the prevalence of scams, especially when searching for work-at-home positions. Despite relying on online job boards, only a quarter (23% of U.S. respondents and 24% of international respondents) use dedicated remote job boards, like Virtual Vocations, where job postings are thoroughly vetted to ensure they are free of scams. Additionally, many jobseekers expressed frustration with excessive job requirements and employers failing to provide feedback or “ghosting” applicants during the hiring process, with one-third of respondents from both groups reporting these issues.

Income Insecurity: A Global Concern

Income insecurity remains a pressing issue for both U.S. and international jobseekers, with many reporting their earnings as insufficient for comfortable living. Sixty-five percent of U.S. respondents and 77% of international respondents reported inadequate household incomes. Nearly half (48%) of U.S. jobseekers earn less than $60,000 annually, while 68% of international jobseekers earn under $30,000. To improve financial stability, many jobseekers have set income targets, with 30% of U.S. jobseekers aiming for $60,000–$89,999 and another 30% targeting at least $120,000. In contrast, international respondents generally require lower salaries, with 38% seeking $30,000–$59,999 and 32% aiming for $60,000–$89,999.

For a comprehensive analysis and additional insights, read the full demographics survey report here: https://www.virtualvocations.com/blog/annual-statistical-remote-work-reports/remote-work-demographics-survey-results-2024/

ABOUT VIRTUAL VOCATIONS
Founded in 2007 by CEO Laura Spawn and her brother, CTO Adam Stevenson, Virtual Vocations is a small company with a big mission: to connect jobseekers with legitimate remote job openings. To date, Virtual Vocations has helped more than four million jobseekers in their quests for flexible, remote work.

In addition to providing a database of current, hand-screened, and 100% remote job openings, Virtual Vocations offers jobseekers a number of tools to aid in their job searches, including exclusive career courses, downloadable jobseeker content, and career coaching and resume writing services. Virtual Vocations also releases several data-driven reports each year on current trends in remote work.

Virtual Vocations, Inc. is a private, family-owned, and 100% virtual company incorporated in Tucson, Arizona.

Media Contact

Kimberly Back, Virtual Vocations, Inc., 1 (800) 379-5092 x. 703, kim@virtualvocations.com, https://www.virtualvocations.com

View original content to download multimedia:https://www.prweb.com/releases/whos-working-remotely-virtual-vocations-survey-highlights-evolving-jobseeker-demographics-302339757.html

SOURCE Virtual Vocations, Inc.

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Judge Baker Children’s Center d/b/a The Baker Center for Children and Families Provides Notice of Data Security Incident

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BOSTON, Dec. 27, 2024 /PRNewswire/ — Judge Baker Children’s Center d/b/a The Baker Center for Children and Families (“The Baker Center”), a nationally recognized provider of services for children’s mental health, has learned of a data security incident that may have impacted certain personal and / or protected health information. On December 27, 2024, The Baker Center formally notified potentially affected individuals with available address information and provided resources to assist them.

On July 28, 2024, The Baker Center discovered unusual activity within its local digital storage environment. After taking immediate steps to ensure the environment was secure, The Baker Center enlisted independent cybersecurity experts to conduct an investigation to determine what happened and whether sensitive information may have been impacted. According to the investigation, an unauthorized actor gained access to The Baker Center’s systems between July 26 – 28, 2024 and may have downloaded certain files. Following a thorough review of the impacted files, on October 28, 2024, The Baker Center determined that certain individuals’ personal and/or protected health information was potentially impacted during the incident.

The information affected during this incident varies between individuals but may have involved the following: name, address, date of birth, Social Security number, driver’s license or other government identification number, financial account information, health insurance information, medical treatment or diagnosis information, and/or clinical information.

On December 27, 2024, The Baker Center mailed notification letters to potentially impacted individuals with verifiable address information. The letters include information about this incident and about steps that potentially impacted individuals can take to monitor and help protect their personal and protected health information. The Baker Center has established a toll-free call center to answer questions about the incident and to address related concerns. The call center can be reached at 844-920-8988, Monday through Friday from 9:00 AM to 9:00 PM Eastern time

The Baker Center takes the security and privacy of information in its possession very seriously and is taking steps to prevent a similar event from occurring in the future. The Baker Center deeply regrets any inconvenience or concern this incident may cause.

View original content:https://www.prnewswire.com/news-releases/judge-baker-childrens-center-dba-the-baker-center-for-children-and-families-provides-notice-of-data-security-incident-302339677.html

SOURCE The Baker Center for Children and Families

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