CA-XYO-NETWORK
29.9.2021 01:58:07 CEST | Business Wire | Press release
The XYO Network (Coinbase: $XYO), the geospatial blockchain network, announced today a recent record 2x growth as well as profitability for the first half of 2021. XY Labs generated net income of $3,841,615 in the first half of 2021 through a plethora of disclosed and undisclosed partnerships vs a loss of $1,967,793 in the first half of 2020.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210928006178/en/
XYO stated that the number of nodes for the XYO Network had doubled in size over the last three months, noting a promising outlook for the remaining 2021 year and emphasizing a strong recovery from the global lull caused by COVID-19.
The company’s announcement shines a light on the constant financial struggle for many crypto-projects, whose main assets like crypto tokens and currencies experience extreme volatility on the decentralized exchanges they trade on. Arie Trouw, one of the project’s founders and CEO of the parent company explained how XYO avoided becoming a “dead coin ” by focusing on profitability and technological development over the past two years.
“Unlike many ‘dead coins’ that arose from failed crypto-projects from 2018, our utility token has been thriving,” Trouw said. “We believe that by choosing to focus deeply on solid technology, profitability, and developmental growth over the last two years, we have surpassed other blockchain projects that may focus more on the excitement of growth and promises.”
Trouw went on to explain some of the upcoming updates to the XYO Network technology, highlighting a goal to improve the speed and implementation of future and current partnerships.
This isn’t the first time the company has shared exciting numbers about their products; earlier this year they released a case study that analyzed 500 customers who use their “COIN” App product to participate in the blockchain network in exchange for prizes and rewards. The study showed how the users had collectively earned 933,697,010 XYO Tokens, the crypto utility token used for the network that was recently listed on Coinbase. At the time of the case study, the total tokens were valued at over $14 million.
Trouw stated there is more to come and is hopeful for the upcoming developments. “Over the last two years we may have been quieter, but by no means less focused on bringing to life the technology we’ve dreamed of building,” he stated. “If anything, we’ve been more efficient and more aligned than ever… and we can’t wait to see where it all goes next.”
More Information about XY Labs and XYO Network
Since 2012, we've developed geospatial products for customers to use in everyday life that help them improve the creation, management, and provenance of their personal activities, tasks, entertainment, and data. In 2018, we unveiled the XYO Network, the world’s first geospatial blockchain network backed with cryptography. With over 3 million downloads for our XYO-enabled application “COIN”, users around the world can participate in the XYO Network and even be rewarded for doing so. For more information, visit us at https://xy.company and https://xyo.network .
Facebook: www.facebook.com/OfficialXYO
Instagram: www.instagram.com/officialxyo
Twitter: www.twitter.com/officialxyo
View source version on businesswire.com: https://www.businesswire.com/news/home/20210928006178/en/
Link:
Social Media:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
First Randomized Controlled Trial Shows Promise of a Ketogenic Diet in Psychotic Disorders8.7.2026 15:00:00 CEST | Press release
Trial reports correlations between ketone levels and cognitive and psychiatric symptoms in individuals with schizophrenia-spectrum and bipolar-1 disorders Published today in Schizophrenia Bulletin, a first-of-its-kind randomized controlled trial (RCT) from researchers at the University of California, San Francisco (UCSF), and funded in part by the National Institute of Mental Health (NIMH), adds to growing literature on the potential benefit of a ketogenic diet for treating psychotic disorders. The study, which enrolled participants with schizophrenia-spectrum or bipolar-1 disorders, demonstrated rapid metabolic improvements with a ketogenic diet compared to diet-as-usual during an initial one-month RCT open-label phase. Furthermore, those who continued with the optional four-month single-arm ketogenic diet extension saw meaningful gains across metabolic, psychiatric, and cognitive measures. This press release features multimedia. View the full release here: https://www.businesswire.co
Teamily AI Publicly Launches Human+AI Social Platform to Make Building and Growing a Company Easy for Every Team8.7.2026 15:00:00 CEST | Press release
Teamily AI (https://Teamily.ai), together with its Agentic AI Infra platform TensorOpera AI (https://TensorOpera.ai), today announced the public launch of its Human+AI social platform, a product stack that has already served more than 5 million users around the world. Starting today in Palo Alto and rolling out simultaneously across dozens of countries, this first public launch opens the full stack to everyone with a single mission: to make building and growing a company easy for every person and every team. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708584390/en/ "This is the moment we open our doors to the world," said co-founders Dr. Aiden Chaoyang He and Professor Salman Avestimehr. "We want every person and every team to be able to move from idea to product, from product to market, and from market to growth and investment, with an AI-native team by their side." At its core, Teamily AI enables humans and AI agents
Leo Cancer Care Raises $65M Series D to Scale Its Integrated Upright Cancer Care Platform8.7.2026 14:30:00 CEST | Press release
Oversubscribed round follows the world-first compact upright proton treatment at Stanford Medicine — funding a single upright platform that will span imaging and treatment across multiple radiation modalities. Leo Cancer Care, the medical technology company working to reinvent how patients are imaged and treated by designing systems around the body’s natural upright position, today announced the close of an oversubscribed $65 million Series D financing. The round was led by Silicon Valley’s Yu Galaxy and welcomes new investors including Eventide Asset Management, alongside continued support from the company’s existing investors. Leading cancer institutions are already adopting the upright approach. Stanford Medicine delivered the world’s first compact upright proton therapy treatment on 4 June 2026. Dana-Farber Cancer Institute and McLaren Health Care are among the institutions bringing the upright platform into their programmes — adoption that spans world-leading academic centers and
LUMI AI Factory Selects IQM to Deploy Advanced Quantum Computer, Accelerating Hybrid HPC and AI Development8.7.2026 14:00:00 CEST | Press release
The Halocene H4 quantum computer, named LUMI-IQ, will be delivered and installed in 2027 The system will be hosted at CSC – IT Center for Science in Finland and integrated into the LUMI AI Factory The system will provide researchers, industry innovators, and developers across Europe with a unique, advanced experimental platform where quantum computing and artificial intelligence converge The LUMI AI Factory, led by CSC – IT Center for Science, has selected IQM Quantum Computers (Nasdaq: IQMX) to deliver IQM Halocene H4, an advanced quantum computer aimed at accelerating hybrid high-performance computing, artificial intelligence, and quantum computing capabilities. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260708006791/en/ LUMI AI Factory selects IQM to deploy advanced quantum computer, accelerating hybrid HPC and AI development IQM Halocene H4 is the first and most advanced on-premises superconducting quantum computer o
Merck Announces FDA Breakthrough Therapy Designation for Enpatoran in Lupus Patients With Active Skin Manifestations8.7.2026 14:00:00 CEST | Press release
Enpatoran could address a significant unmet need in lupus, specifically targeting cutaneous manifestations of the disease, which currently have no approved therapiesFDA's decision was supported by Phase 2 WILLOW study results, which demonstrated meaningful symptoms improvement, particularly among patients with active cutaneous manifestationsEnpatoran's potential to go beyond current treatment standards in lupus prompted FDA´s breakthrough designation, which is designed to expedite drug development and reviewNot intended for Canada-, UK- or US-based media Merck, a leading science and technology company, today announced that the US Food and Drug Administration (FDA) has granted Breakthrough Therapy designation to enpatoran for the treatment of lupus with active cutaneous manifestations. Enpatoran is an oral selective toll-like receptor (TLR) 7/8 inhibitor, designed to modulate pathways central to lupus-related inflammation. “For the 85% of lupus patients whose disease includes skin manif
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom