- OTC stock quintuples in value in less than two hours…
- STT Breaking News Chat nails the alert…
Shares of Life Clips Inc (OTCMKTS: LCLP) are absolutely surging on news of a big cryptocurrency acquisition.
The deal is expected to close in the second quarter of 2022 but shares are skyrocketing today.
At writing, LCLP stock was up 500%.
Cue the FOMO for all of those who missed this big trade.
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StocksToTrade Users Get the Tip
If you’re part of the StocksToTrade Breaking News Chat, you may not be feeling that same FOMO.
The chat was all over this acquisition, alerting users to the news before the market open.
An alert was sent out at 8:14 a.m. saying, “Life Clips acquiring blockchain tech firm Belfrics.”
And the race was on at the market open.
LCLP stock started the trading day up more than 100% before quintupling in value in less than two hours.
Self-made trading millionaire, educator, and philanthropist Tim Sykes got in on this stock too.
Soooo many wifi, software issues today, was trying to unveil new @profitly feature, but oh well, the good news is I nailed $LCLP early & underestimated it as usual….reason #28949294 why you NEED to use https://t.co/9qqyKfKepD every single damn day, nice nearly a triple now— Timothy Sykes (@timothysykes) July 14, 2021
Details of the Deal
Life Clips’ acquisition of Belfrics comes at a time when cryptocurrencies are simultaneously becoming more mainstream and facing immense regulatory pressure both in the U.S. and abroad.
But the deal shows Life Clips is optimistic about the future. “The cryptocurrency market is expected to reach $8 trillion by 2030, while the market for blockchain technology is expected to add $176 billion to the US GDP during the same period,” the company stated in the release.
Belfrics Group operates crypto exchanges in Malaysia, Singapore, India, Kenya, Tanzania, Nigeria, and Bahrain and can process over 1 million transactions per second.
After the acquisition closes, Belfrics CEO and Founder Praveen Kumar will remain in his current position while Robert Grinberg will continue to serve as CEO of Life Clips.
“This is an exciting time for Belfrics. After many years of hard work building a global exchange for cryptocurrency and the most secured trading platform, it is time to spread our wings globally,” said Kumar. “The acquisition of Belfrics by Life Clips will help expand the reach of both our cryptocurrency platform and our blockchain solutions, which will create an impact worldwide.”
Grinberg said, “We welcome Praveen and his team to our family and look forward to providing them with the resources to take their world-class cryptocurrency exchange and platform to the next level.”
What You Need to Know About Belfrics
- Belfrics Group specializes in blockchain technology and digital asset exchange solutions.
- The company was founded in 2014 and has 10 operational offices in 8 countries.
- Belfrics runs a blockchain Academy that provides continuous training to traders, developers, and blockchain enthusiasts in more than 20 countries.
- Belfrics is licensed and regulated by the Labuan Financial Services Authority (LFSA) in Malaysia.
- The company runs two distinct business verticals: Digital asset exchange and blockchain division.
- Belfrics is one of the few regulated exchanges across the globe that provides regulated digital asset trading solutions.
- Belrium is the company’s proprietary blockchain.
- Belrium is a hybrid private-public blockchain solution focused on identity management on blockchain for decentralized transactions.
More About Life Clips
- Life Clips is the parent company of Cognitive Apps Software Solutions Inc.
- The company distributes single-use and cordless batteries under the Mobeego brand for use with cellular phones and other mobile devices.
- Life Clips was founded in 2013 and is headquartered in Aventura, FL.
- Cognitive Apps is an AI-Powered mental health analytics platform that empowers businesses to measure, understand, and improve mental well-being of their employees, patients, and customers.
- Cognitive Apps is pioneering a speech-based AI technology that could help accurately predict risk for various types of depression and mood and anxiety-based disorders years before a clinical diagnosis.
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