by | Feb 11, 2025 | Business
GoGym is raising pre-seed funding to enhance its app, expand its locations, and solidify its position as the Philippines’ leading tech-enabled fitness chain. With a strong leadership team and a proven model, GoGym offers a compelling investment opportunity in the fast-growing fitness and wellness market.
GoGym, the Philippines’ first tech-enabled, high-value, low-cost fitness gym chain, is embarking on its most ambitious phase of growth yet. The company is currently raising pre-seed funding to accelerate the development of its innovative fitness app and expand its physical footprint across Metro Manila and beyond. With a proven business model and a leadership team with decades of industry expertise, GoGym is positioned as an attractive investment opportunity in the rapidly growing health and wellness sector.
Invest in Wellness: GoGym’s Pre-Seed Funding Round Fuels Tech and Location Growth
GoGym, the Philippines’ first tech-enabled, high-value, low-cost fitness gym chain, is embarking on its most ambitious phase of growth yet. The company is currently raising pre-seed funding to accelerate the development of its innovative fitness app and expand its physical footprint across Metro Manila and beyond. With a proven business model and a leadership team with decades of industry expertise, GoGym is positioned as an attractive investment opportunity in the rapidly growing health and wellness sector.
A Vision for Fitness Innovation
The fitness industry in the Philippines is thriving, with a projected compound annual growth rate (CAGR) of 8% for fitness services and related markets. This growth is fueled by increasing health awareness, a burgeoning middle class, and the rising popularity of digital fitness solutions. GoGym aims to capitalize on these trends by combining physical fitness centers with cutting-edge digital technology, offering a seamless and modern fitness experience.
“We’re not just building gyms; we’re building a fitness ecosystem,” says Andrew Phillips, CEO of GoGym. “Our mission is to make fitness affordable and accessible while integrating technology to deliver unmatched value to our members.”
GoGym’s app currently allows members to manage memberships, track workouts, book personal training sessions, access nutrition plans, and participate in gamified challenges. The company plans to expand these features with funding, including smart equipment integration, advanced analytics, and even AI-driven workout recommendations.
Fueling Growth Through Funding
With five successful locations in Metro Manila, GoGym is seeking funding to expand its presence to more neighborhoods and cities. The funds raised in this pre-seed round will be allocated to:
App Development: Enhance the GoGym app with new features, such as personalized fitness plans, real-time progress tracking, and social connectivity for members.
Physical Expansion: Open additional gym locations to meet growing demand and bring affordable fitness solutions closer to communities.
Marketing and Brand Awareness: Launch campaigns to solidify GoGym’s position as a leading fitness brand in the Philippines.
“Investing in GoGym is investing in the future of fitness,” says Felicia Perez, Chief Product Officer. “Our app-centered approach not only streamlines gym operations but also creates a better experience for members. We’re redefining what it means to go to the gym, and we’re inviting investors to be part of this exciting journey.”
A Proven Team Driving Success
GoGym’s leadership team brings unparalleled expertise to the table, with decades of experience across fitness, technology, product design, and strategy. From Andrew Phillips’ extensive background with global gym chains to Felicia Perez’s innovative approach to UI/UX, the team has a clear vision for scaling the business sustainably.
“This funding round isn’t just about growth—it’s about ensuring we stay true to our mission of making fitness accessible to all,” adds Kristoff Inocentes, Head of Sales & Marketing. “We’re ready to take GoGym to the next level, and this funding will allow us to deliver on our promise of inclusivity, affordability, and innovation.”
A Bright Future for Fitness in the Philippines
The pre-seed funding round represents a unique opportunity for investors to back a proven business in a high-growth industry. With plans to disrupt the fitness market through technology and expansion, GoGym is poised to make a lasting impact on the lives of Filipinos and redefine how fitness is approached in the region.
If you’re interested in becoming part of GoGym’s mission to create healthier, happier, and more connected communities, visit GoGym’s website to learn more about their funding and partnership opportunities.
This Press Release has also been published on VRITIMES
by | Feb 10, 2025 | Business
XRP price hinges on SEC’s next move in the Ripple case. Uncertainty persists, but potential for breakout if appeal is dropped. Macro headwinds also in play.
On Saturday, February 8, XRP advanced 0.89%, following a 3.11% rally on Friday, closing at $2.4196. The cryptocurrency outperformed the broader market, which saw a 0.51% increase, pushing the total market capitalization to $3.11 trillion.
However, XRP’s price remains below key resistance levels, leaving investors cautiously optimistic.
SEC Under Pressure: OIG Investigation and Legal Challenges
The Securities and Exchange Commission (SEC) and the Office of Inspector General (OIG) are facing mounting scrutiny regarding potential conflicts of interest in the crypto space.
Empower Oversight, a US whistleblower organization, has sued the SEC, demanding the release of the OIG’s findings from an investigation into crypto-related conflicts of interest within the agency.
At the center of this controversy is former SEC Director of the Division of Corporation Finance, William Hinman. In 2018, Hinman stated that Bitcoin (BTC) and Ethereum (ETH) are not securities. However, at the time, he maintained ties with Simpson Thacher, a law firm promoting Enterprise Ethereum.
Empower Oversight alleges that Hinman received millions from his former employer while playing a crucial role in shaping the SEC’s crypto regulations.
Hinman’s Role and the Ripple Case
On February 8, Hinman appeared as a panelist discussing regulatory developments under the new Trump administration. Attorney John E. Deaton highlighted concerns regarding Hinman’s Ethereum speech, pointing out that multiple SEC divisions reviewed his draft speech—except the Ethics Division.
Deaton noted that despite warnings from the SEC’s Ethics Division, Hinman continued meeting with Simpson Thacher employees, raising questions about regulatory impartiality.
The SEC has unsuccessfully attempted to shield documents related to Hinman’s speech under attorney-client privilege. This ongoing legal battle is fueling speculation that the SEC may eventually withdraw its appeal in the Ripple case.
The agency filed its appeal-related opening brief on January 15, just before Gary Gensler stepped down as SEC Chair.
The appeal seeks to overturn Judge Torres’ July 2023 ruling, which found that Programmatic Sales of XRP did not satisfy the third prong of the Howey Test—critical in determining whether an asset qualifies as a security.
XRP Price Trends: Is a Breakout Imminent?
XRP’s near-term trajectory is largely dependent on the SEC’s next move in the Ripple case. If the SEC withdraws its appeal, XRP could surpass its all-time high of $3.5505 and potentially target $4.
Additionally, the approval of an XRP-spot ETF could further drive institutional demand. Conversely, if the SEC proceeds with its appeal, XRP might decline toward $1.50.
Market Outlook: Regulatory Uncertainty and Macroeconomic Factors
Regulatory uncertainty remains a key risk factor for XRP’s outlook. In addition, macroeconomic elements such as US foreign policy and Federal Reserve interest rate decisions could impact investor sentiment.
While Trump’s re-election initially boosted market confidence, his recent tariff policies have pressured XRP prices. The cryptocurrency dropped from $3.1341 to a February 3 low of $1.7938 on tariff concerns before partially recovering.
Next SEC Meeting: Could It Decide XRP’s Fate?
The SEC’s next closed meeting on Thursday, February 13, could be a pivotal moment for XRP. According to the Sunshine Notice Act, the agenda includes:
- Institution and settlement of injunctive actions
- Institution and settlement of administrative proceedings
- Resolution of litigation claims
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Other enforcement-related matters
Notably, Jorge Tenreiro, a key SEC crypto litigator involved in the Ripple case, has recently transferred to another division. His absence could influence the SEC’s decision on whether to continue or withdraw the appeal.
XRP Price Trends: Impact of SEC Appeal Strategy
On February 10, XRP’s rocketing 1.12% closing at $2.4290. The broader market also declined slightly by 0.13%, bringing total market capitalization to $3.1 trillion.
Uncertainty surrounding the SEC’s appeal strategy continues to be a headwind for XRP, with ETF approval potentially depending on the agency’s decision.
Key Price Scenarios for XRP:
1. Bullish Case: If the SEC withdraws its appeal, XRP could rally past $3.5505 and beyond.
2. ETF Catalyst: Approval of an XRP-spot ETF could push XRP toward $5 on increased institutional demand.
3. Bearish Case: If the SEC proceeds with its appeal, XRP could decline below $1.50.
Beyond Ripple: US Tariffs and Crypto Market Impacts
The broader crypto market faces additional headwinds from US tariff policies, particularly impacting BTC. On February 9, The Kobeissi Letter reported that President Trump plans a 25% tariff on aluminum and steel imports.
Reciprocal tariffs on certain nations may also take effect, depending on China’s tariff decisions on February 10. Such tariffs could elevate import costs, drive inflation, and potentially delay Federal Reserve interest rate cuts—negatively affecting risk assets like BTC.
Conclusion
As regulatory and macroeconomic factors shape the crypto landscape, two critical developments stand out that the SEC’s appeal strategy in the Ripple case.
That factor could significantly influence institutional adoption, investor sentiment, and price movements in the coming months. Traders and investors should closely monitor regulatory updates, macroeconomic indicators, and technical signals to navigate this evolving market environment.
This Press Release has also been published on VRITIMES
by | Feb 10, 2025 | Business
While generally positive about Bitcoin’s long-term potential, the article also acknowledges the risks and uncertainties, such as potential price drops, regulatory challenges for XRP, and the impact of macroeconomic factors.
The cryptocurrency market has always been a volatile space, with Bitcoin leading the charge as the premier digital asset. Analysts and investors often look for historical patterns to predict Bitcoin’s future movements, and one striking comparison that has emerged is its correlation with the Nasdaq QQQ ETF.
Bitcoin and QQQ: A Historical Perspective
The connection between Bitcoin and QQQ may be more significant than many expect. Renowned analyst Benjamin Cowen has pointed out similarities between Bitcoin’s post-ETF launch price movements and QQQ’s trajectory during the late 1990s tech boom.
QQQ launched at around $48–49 and surged to $120 in just 54 weeks. However, the asset struggled to maintain levels above $100, leading to a steep correction that pushed its value down to the $80 range and even lower.
Bitcoin has shown a similar structure. Following the approval of its spot ETF, Bitcoin surged from $48,000 to a cycle high in a 54-week timeframe.
Just as QQQ saw a peak followed by three weeks of declines before stabilizing, Bitcoin has exhibited a similar trend, with a new high followed by two weeks of correction.
If history is any indication, Bitcoin might face another week of downside before a potential relief rally. However, market structures evolve, and deviations from past trends are always possible.
Bitcoin’s Post-Halving Correction and Market Volatility
Historically, Bitcoin experiences corrections in January following a halving year. The surge in volatility and market uncertainty toward the end of winter could further impact its trajectory. Bitcoin’s rising dominance over altcoins has intensified capital shifts within the crypto market, with altcoins facing significant pressure.
While historical patterns provide insight, markets do not always replicate past behaviors precisely. Should Bitcoin fail to hold key support levels, a significant price drop may follow, reinforcing the bearish trend.
Japan’s Bitcoin Boom: The Metaplanet Phenomenon
Bitcoin demand in Japan has surged, partly driven by U.S. President Donald Trump’s pro-crypto stance. One of the most striking cases is Metaplanet Inc., a company that pivoted from hotel development to Bitcoin accumulation, emulating MicroStrategy’s strategy.
Over the past 12 months, Metaplanet’s stock has soared 4,800%, making it the best-performing Japanese stock. The company, led by former Goldman Sachs trader Simon Gerovich, transitioned to a “Bitcoin-first” model in early 2024.
Its shareholder base has grown by 500%, fueled by a combination of institutional and retail investors, including Capital Group.
Japan’s investment environment has also contributed to Metaplanet’s success. The revamped Nippon Individual Savings Account (NISA) program provides a tax-efficient means for retail investors to gain exposure to Bitcoin through stock proxies like Metaplanet.
To expand its Bitcoin holdings, Metaplanet plans to acquire 10,000 BTC by the end of 2025 and 21,000 by 2026, funded through share issuances. Additionally, it aims to rebrand its last remaining hotel, Royal Oak in Tokyo’s Gotanda area, as “The Bitcoin Hotel,” hosting crypto-related events and seminars.
Trade Tariffs and Macro Headwinds Impacting Bitcoin
The broader cryptocurrency market has also been affected by geopolitical and macroeconomic factors. President Trump’s recent announcement of a 25% tariff on steel and aluminum imports, along with potential reciprocal tariffs from China, has increased market volatility.
Historically, Bitcoin has been viewed as a hedge against economic instability, but its performance during macroeconomic turmoil has been mixed. The stronger U.S. dollar and inflationary pressures could further impact Bitcoin’s price action.
With the U.S. Consumer Price Index (CPI) data release on February 11, markets are bracing for potential interest rate adjustments by the Federal Reserve.
MicroStrategy’s Strategy: Expanding Bitcoin Holdings
In the midst of market fluctuations, firms like MicroStrategy—now known as Strategy—continue to aggressively accumulate Bitcoin. Between February 3 and February 9, the company purchased 7,633 BTC for $742.4 million, bringing its total holdings to 478,740 BTC, valued at over $46 billion.
MicroStrategy’s approach underscores the increasing institutional adoption of Bitcoin as a treasury asset. With a long-term strategy centered around Bitcoin acquisition, the firm continues to drive institutional interest in the digital asset.
Bitcoin’s Future: Key Levels and Market Sentiment
Despite recent volatility, Bitcoin remains resilient. As of February 10, Bitcoin traded at $97,105, showing a 0.65% increase. The cryptocurrency market cap stands at $3.17 trillion, with Bitcoin’s dominance at 60.77%.
Bitcoin’s short-term trajectory hinges on key support and resistance levels. A drop below $96,000 could trigger further bearish sentiment, while a breakout above $96,750 may push BTC toward $98,500.
Conclusion
Bitcoin’s price action continues to mirror historical patterns seen in traditional financial markets, such as the Nasdaq QQQ ETF in 1999. However, regulatory shifts, macroeconomic policies, and institutional movements will play a crucial role in shaping its future.
As geopolitical tensions, Federal Reserve policies, and regulatory developments unfold, Bitcoin’s resilience will be tested. While its long-term outlook remains strong, short-term fluctuations and corrections remain an inevitable part of its growth. Investors must stay informed and adapt their strategies accordingly.
This Press Release has also been published on VRITIMES
by | Feb 10, 2025 | Business
- Jemena proposes to deliver significant electricity bill savings to customers over the five-year period beginning 1 July 2026.
- A typical residential customer’s average annual bill will be $156 lower by the end of the next period compared to an annual bill in 2025-26.
- Jemena’s proposal is informed by nearly 300 hours of customer engagement over a two-year period.
- Jemena’s customers provided 16 recommendations which form the basis of the proposal.
Energy infrastructure company, Jemena, has submitted its 2026-31 Proposal for its electricity network to the Australian Energy Regulator (AER).
The proposal outlines Jemena’s service delivery and prices for its electricity network – which services more than 380,000 customers across north-west Melbourne – for the financial years covering 2026-31, and the role it will play in Australia’s energy transition.
Jemena’s Executive General Manager of Networks Shaun Reardon said, if endorsed by the Australian Energy Regulator, a typical residential customer’s annual bill will be $156 lower by the end of the next period compared to an annual bill in 2025-26.
“This price reduction is enabled by an increase in electricity consumption across our network, driven by data centres and major connections, and increased utilisation by existing customers as they increasingly use electricity to heat their homes and cook their meals,” said Mr Reardon.
“To develop this proposal we engaged with thousands of customers across multiple channels which included visitors to our GridTalk website, sessions facilitated in-person including our People’s Panel and virtual engagement. We held 80 engagement events and spent nearly 300 hours with customers over the past two years.
“This proposal reflects the needs of our customers and communities today, while also preparing our electricity network for a more sustainable energy future.
“Many of our customers told us that energy affordability and cost-of-living continue to be their top priority. Our customers also said that maintaining the reliability of the electricity network and increasing resilience to withstand and recover from extreme weather events were important priorities.
“Throughout our engagement process we sought feedback from a diverse range of residential, large commercial, industrial, small, and medium-sized business customers.”
The 2026-31 Proposal outlines the following actions shaped by our customers:
Affordability:
A typical residential customer’s average annual bill will be $156 lower by the end of the next period compared to an annual bill in 2025-26.
Preparing for the future:
Connect over 33,300 new residential customers and 2,585 businesses in north-west Melbourne.Introduce new tariff structures that encourage better network utilisation and improve price equity between solar and non-solar customers.Introduce new digital technologies to improve electricity system management and enable new sustainable products and services.Deliver a broad-based zone-substation redevelopment program to maintain current reliability levels.Build large-scale assets to serve new large customers such as data centres and hospitals.
Keeping our customers informed:
Upgrade systems to keep customers better informed with near real-time information at times they need it the most.Develop a new portal to provide tailored information based on customer preferences and language needs with energy information.
The AER will now review and assess Jemena’s 2026-31 Proposal and provide a draft decision later this year. Jemena will then submit a revised proposal with the AER’s final decision taking effect from 1 July 2026.
To view the initial 2026-31 Proposal visit: https://gridtalk.com.au/2026-2031-proposal
This Press Release has also been published on VRITIMES
by | Feb 10, 2025 | Business
MANILA, Philippines – On November 19, France-Philippines United Action Foundation hosted hosted an Opening Event in Alliance Française de Manille to celebrate the arrival of the Plastic Odyssey Expedition in the Philippines, uniting the French-Filipino community in support of this impactful initiative. Having sailed across three continents and visited over 20 countries, Plastic Odyssey’s laboratory ship has now docked in Manila to continue its mission of addressing plastic pollution in the most affected areas and empowering communities with sustainable solutions.
This exclusive event brought together environmental advocates, educators, and key stakeholders to spotlight the global fight against plastic pollution. Guests were introduced to Plastic Odyssey, a pioneering initiative committed to reducing plastic waste through a global network of local recycling projects.
The program was emceed by Xavier Leroux, Executive Director of Alliance Française de Manille, and Kevin Charuel, Managing Director of CCI France Philippines. Warm opening remarks were delivered by Rémy Tirouttouvarayane, Deputy Head of Mission at the Embassy of France in the Philippines, and Marie-Maylis Charlat, President of the France Philippines United Action Foundation (FPUA), setting the tone for an evening dedicated to collaboration and sustainable innovation.
Plastic Odyssey: A Global Initiative Raising Awareness and Sharing Sustainable Solutions
During the event, Simon Bernard, President and Co-Founder of Plastic Odyssey, delivered an inspiring presentation on the global initiative’s mission to combat plastic pollution through innovative recycling technologies and educational campaigns. He showcased how the expedition has been transforming plastic waste into valuable resources, fostering a global network of local recycling initiatives, and inspiring communities to adopt sustainable practices.
Santhosh Paramel, Asia Pacific Operations Director and Vice-President of the Delfingen Foundation, elaborated on their collaborative efforts with Plastic Odyssey. He highlighted their direct support in establishing two micro-factories in the Philippines, designed to empower local communities with practical recycling solutions for tackling plastic waste effectively.
Youth for Dagat: Empowering Filipino Youth to Combat Plastic Pollution
The event also saw the launch of the Youth for Dagat Program, a school-based initiative aimed at empowering Filipino youth to take action against plastic pollution. Spearheaded by the France Philippines United Action Foundation (FPUA), the program emphasises environmental education, equipping students with practical tools to understand and address the harmful impacts of plastic waste. Alexandra Acedillo, FPUA Project Coordinator, underscored the program’s mission to nurture a new generation of environmental advocates by fostering grassroots engagement and promoting actionable solutions.
Funded by the Embassy of France to the Philippines, the Youth for Dagat Program forms part of the Embassy’s Blue Nations initiative, which seeks to strengthen collaboration between France and the Philippines on maritime and climate issues. It also serves as a preparatory step for the 2025 United Nations Ocean Conference (UNOC) in Nice, reaffirming the commitment of both nations to environmental sustainability and ocean preservation.
Building Connections and Showcasing Impact
The evening concluded with a networking cocktail, providing participants the chance to engage directly with the Plastic Odyssey crew. Attendees were also treated to a special screening of the Plastic Odyssey documentary, offering an in-depth exploration of the expedition’s transformative work worldwide.
This opening event marked a significant milestone in fostering cross-cultural partnerships to address one of the planet’s most pressing environmental challenges. By bringing together key stakeholders and innovative solutions, it set the stage for meaningful collaboration and action toward a sustainable future.
This Press Release has also been published on VRITIMES
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