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CMC Markets PLC - London-based online trading platform - Addresses a recent news article which ‘misrepresents our commitment to StrikeX and its strategic objectives’. Explains the write-off of its initial investment in StrikeX is purely an accounting decision and ‘does not reflect our belief in StrikeX’s technology or potential, nor does it indicate any change in our partnership’. ‘On the contrary, we continue to integrate StrikeX’s services into our offerings and see our relationship deepening further as we collaborate on Web 3.0 developments. The team at StrikeX has made tremendous strides in this fast-paced industry, and we remain excited to grow alongside them, supporting their mission to reshape the future of finance.’ CMC Markets says it is committed to fostering innovation and partnerships that deliver long-term value, and ‘StrikeX remains a key part of that vision’. In its half-year results on Thursday, CMC said: ‘Due to the continued underperformance of the investment, combined with its poor financial position and ongoing losses the group fully wrote down its investment in Strike X, a customer centric blockchain solutions business, which was acquired in June 2023. Despite the impairment, the group continues to support Strike X and its strategic objectives.’ CMC owns 33% of Strike X, a blockchain solutions business. The holding was acquired in June 2023 for £2.8 million. Current stock price: 268.35 pence 12-month change: nearly trebled Copyright 2024 Alliance News Ltd. All Rights Reserved.
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