ICN Launches $ICNT, latest investment signals $470 million valuation
Impossible Cloud Network (ICN) – a decentralized cloud services provider– is today announcing the launch of its $ICNT token through Tier 1 centralized exchanges Bybit, Binance, Kraken, Gate.io, Bitget, and more.
The token launch follows a recently announced investment (valuation: $470 million) from NGP Capital, a deep tech fund that backed Xiaomi and Helium.
ICN is the first decentralized cloud provider to match and surpass centralized hyperscalers in latency, availability, and performance. Its service is live and operating a fully open, multi-service, permissionless, and composable cloud infrastructure that integrates storage, compute, and networking at scale.
The token listing comes just weeks after ICN attracted a substantial valuation of $470 million from Nokia-backed investor NGP Capital, which joined 1kx, No Limit Holdings, Protocol VC, HV Capital, and more in investing a total of $34 million into ICN.
The Switzerland-based cloud network has substantial traction inside its ecosystem, handling over 23,000 cloud requests per second from its 1,000+ enterprise customers. This makes ICN one of the biggest revenue-generating decentralized physical infrastructure networks (DePINs) in the industry and places it in pole position to win the AI infrastructure race.
ICN's CEO and co-founder is Kai Wawrzinek, a seasoned, billion-dollar company founder who successfully led his project, Goodgame Studios, to NASDAQ unicorn status in 2017.
Commenting on the launch of $ICNT, Wawrzinek says: 'As a decentralized cloud provider, ICN is successful because it meets a genuine, growing need. ICN will win the decentralized infrastructure race — because we control the data layer. Once compute goes live, we'll unbundle the internet."$ICNT will play a pivotal role in ICN's ecosystem, allowing anyone to participate in the network's growth by earning rewards from HyperNodes. $ICNT is used both for provisioning hardware capacity and for staking to secure cloud workloads. This ties the token to real-world infrastructure and the strong and growing demand that ICN's ecosystem is experiencing.
ICN is riding a confluence of multiple strong tailwinds in the cloud industry. These include incredible demand for AI, associated hardware shortages, and an increasingly urgent need for sovereign cloud solutions apart from those offered by US hyperscalers.
Combined, these drivers are calling for a new foundational layer for the next generation of the internet that can challenge the dominance of centralized tech giants – a layer ICN is pioneering.
About Impossible Cloud Network (ICN)
Impossible Cloud Network (ICN) is building a permissionless, open cloud network to rival Big Tech giants like Amazon Web Services (AWS) and Google. With resilient, high-performance decentralized cloud services, ICN is laying the foundation for a scalable, secure, and community-driven global cloud that supports enterprise, AI, gaming, applications, and end-users. With real-world adoption already generating million-dollar revenue and a vision for 200+ decentralized cloud services, ICN offers a true alternative to monopolistic hyperscalers.
About ICN: https://www.icn.global
Full information on $ICNT : https://www.icn.global/exchanges
$ICNT on Bybit: https://www.bybit.com/en/price/impossible-cloud-network-token/
Contact
Rebecca Jones
Block3 PR
[email protected]
Photo - https://mma.prnewswire.com/media/2724280/ICN_Launches_ICNT.jpg
View original content to download multimedia: https://www.prnewswire.com/news-releases/icn-launches-icnt-latest-investment-signals-470-million-valuation-302497611.html
SOURCE Impossible Cloud Network
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Yahoo
2 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq nudge higher as Trump-EU trade deal kicks off huge week
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NextDecade (NEXT), Venture Global (VG), and Cheniere Energy (LNG)jumped between 7% and 8.8%. Samsung to make AI chips for Tesla under $16.5 billion deal Samsung Electronics ( SSNLF) has landed a $16.5 billion deal to make Tesla's (TSLA) next-generation AI chip. The agreement, which runs through the end of 2033, will see the South Korean company produce the AI6 semiconductor at an upcoming plant in Texas. Shares of Tesla stepped up 1.5% in premarket trading, after its CEO Elon Musk confirmed on X that the EV maker had struck the multibillion-dollar deal. Meanwhile, Samsung's Seoul-traded stock rose almost 7% to its highest level since September. 'The strategic importance of this is hard to overstate,' Musk wrote. "The $16.5B number is just the bare minimum. Actual output is likely to be several times higher." Bloomberg reports: Read more here. Samsung Electronics ( SSNLF) has landed a $16.5 billion deal to make Tesla's (TSLA) next-generation AI chip. The agreement, which runs through the end of 2033, will see the South Korean company produce the AI6 semiconductor at an upcoming plant in Texas. Shares of Tesla stepped up 1.5% in premarket trading, after its CEO Elon Musk confirmed on X that the EV maker had struck the multibillion-dollar deal. Meanwhile, Samsung's Seoul-traded stock rose almost 7% to its highest level since September. 'The strategic importance of this is hard to overstate,' Musk wrote. "The $16.5B number is just the bare minimum. Actual output is likely to be several times higher." Bloomberg reports: Read more here. Oil rises with EU-US trade deal locked in Oil prices eked out gains as the US and the EU finalized details of a trade deal ahead of Trump's Aug. 1 deadline. Bloomberg reports: Read more here. Oil prices eked out gains as the US and the EU finalized details of a trade deal ahead of Trump's Aug. 1 deadline. Bloomberg reports: Read more here. European stock futures rise on US-EU trade deal announcement Futures in European stock indexes saw positive bumps early morning Monday as the markets reacted to the announcement of a tariff deal between the US and the EU Interest in individual stocks in carmakers, luxury goods makers, and alcohol conglomerates is rising ahead of the market open Monday with those industries the most impacted by the deal. Bloomberg reports: Read more here. Futures in European stock indexes saw positive bumps early morning Monday as the markets reacted to the announcement of a tariff deal between the US and the EU Interest in individual stocks in carmakers, luxury goods makers, and alcohol conglomerates is rising ahead of the market open Monday with those industries the most impacted by the deal. Bloomberg reports: Read more here. Sign in to access your portfolio
Yahoo
2 minutes ago
- Yahoo
Inter Milan President Marotta Urges Caution On Lookman Rumours: ‘There's A Whole Month To Go In The Transfer Window'
Inter Milan President Beppe Marotta is not pouring fuel on the fire of links with Atalanta forward Ademola Lookman. The Nerazzurri President addressed the transfer rumours in Inter's preseason press conference, as reported by FCInterNews. He stressed that 'there's a whole month left to go' in the window. Inter Milan have made Atalanta's Ademola Lookman their priority target. The Nerazzurri made an offer of €40 million for the Nigerian earlier this month. However, Atalanta rejected this initial bid – giving Inter a counteroffer of €50 million. However, that has not deterred Inter. Far from it – they are aiming to return with another offer very soon. Or at least, that is what reports have suggested in the last couple weeks. Inter President Marotta Urges Caution On Ademola Lookman Links VERONA, ITALY – NOVEMBER 23: Giuseppe Marotta of FC Internazionale during the Serie A match between Verona and FC Internazionale at Stadio Marcantonio Bentegodi on November 23, 2024 in Verona, Italy. (Photo by) Inter Milan President Beppe Marotta noted that 'there's still a whole month left to go in the transfer window.' 'I make no secret of the fact that I think Lookman is a great player,' he hinted coyly. 'Both from the recommendation of our scouting teach and also the coach.' 'He's certainly not a player we're just discovering now. I think he's a player on the radar of every big club, not just in Italy, but in Europe.' 'But he's still an Atalanta player right now,' Marotta made clear of Lookman. 'We have the utmost respect for Atalanta. And we'd be remiss if we were to interfere with them.' The Inter President made clear that 'we have a great relationship with the Percassi family and the new ownership.' 'I won't deny that I've exchanged some words with Luca Percassi,' Marotta once again hinted at the talks for Lookman. 'And that's part of how it goes, I think. You always raise the bar.' 'You can't be afraid to ask about good players,' he hinted. 'So that's what I can tell you.' 'But it's premature to know what will end up happening. However, he's one of the players on the shortlist of the directors, Ausilio, Baccin, myself, and the ownership. That's true.' This Week 'Could Be Decisive' for Lookman – But Inter 'Are Looking At Other Names' BERGAMO, ITALY – MAY 25: Ademola Lookman of Atalanta BC looks on during the Serie A match between Atalanta BC and Parma Calcio 1913 at Gewiss Stadium on May 25, 2025 in Bergamo, Italy. (Photo by) Asked if this week could be decisive for Inter's pursuit of , Marotta replied 'yes, certainly.' 'Because the coach and I are sharing the search for players with a certain versatility, and who can allow him to play with a new system and formation.' 'So clearly, he has a profile that suits that model. But he's not the only one.' Marotta stated that Inter 'are looking at other names.' 'And I don't deny that within 2-3 days, we'll reach a conclusion to the talks between Inter and Atalanta.' 'If the conditions are right and Atalanta are ready to sell him, obviously we'll try to start concrete negotiations and maybe wrap up a deal.' 'Otherwise, it will be someone else,' Marotta said. Then, the Inter President spoke about the fact that Lookman, who turns 28 in the autumn, isn't exactly a young player like the club have mostly been trying to sign. 'We all agree that, in football, you rarely win just with eleven talented players,' he said. 'Along with talent, you need experience. And you need very strong character.' Marotta conceded that 'Lookman isn't a player you can sell on for a profit.' 'But he can give us the edge with his quality. He's not a player that I've just discovered, but a good player can also help the young players around him develop.' 'A mixture of younger and more experienced players adds value to the squad,' Marotta declared.
CNN
3 minutes ago
- CNN
Dow approaches record high after US-EU trade deal announcement
US stocks rose Monday and the Dow was poised to hit its first record high of the year as investors welcomed the announcement of a trade deal between Washington and Brussels. Stocks opened higher Monday morning after President Donald Trump and President of the European Commission Ursula von der Leyen on Sunday announced a framework for a US-EU trade deal. The Dow rose 38 points, or 0.08%. The broader S&P 500 gained 0.17%. The tech-heavy Nasdaq Composite gained 0.4%. The Dow traded near record-high territory and was trying to gain 0.39% to surpass its previous intraday record of 45,073.63, set on December 4. The blue-chip index needs to finish the day with a gain of about 115 points, or 0.25%, to close at a record high, which would be its first this year. While the S&P 500 and Nasdaq have clinched numerous records this month, the Dow is still searching for its first record high since early December. Trump and von der Leyen met in Scotland and announced the deal, which includes a 15% tariff on US imports of EU goods. The announcement was in line with investors' expectations and perceived to be better for markets than Trump's previous threat of a 30% tariff. 'The EU-US trade deal removes a significant layer of uncertainty from markets,' Paul Stanley, chief investment officer at Granite Bay Wealth Management, said in an email. 'While a 15% baseline tariff remains in effect, and still has the potential to increase prices for goods across the board, falling uncertainty is positive for markets and this deal is a signal to markets that we can soon move on from this issue and focus more on fundamentals,' Stanley said. While US stocks rose, stocks in Europe had a mixed day. Europe's benchmark Stoxx 600 index on Monday hit its highest level in four months and was up 0.3%. Meanwhile, Germany's DAX index initially rose before turning into the red and sliding 0.2%. Stocks are coming off a strong week as investors have welcomed progress on trade negotiations. The S&P 500 on Monday was set to rise further into record territory after notching five consecutive record highs last week. Stock futures on Sunday evening jumped higher, albeit modestly, after the US-EU trade deal was announced as Wall Street was relieved that Trump did not push forward with even higher tariffs. Some investors had been fearing a worst-case scenario of dramatically high tariffs that could have disrupted supply chains and dealt a firm blow to economic growth. But some investors have also called Trump's bluff on his trade war, betting the president will avoid enormous tariffs that could derail the economy. 'Ultimately, this is good news from a financial markets perspective as it reduces uncertainty further still ahead of the 1st August, which is now looking like an insignificant date,' Derek Halpenny, head of research for global markets at MUFG, said in a note. Jack Allen-Reynolds, deputy chief euro-zone economist at Capital Economics, said in a note that while the trade deal is a positive development, 'uncertainty is likely to remain high for the foreseeable future.' 'This will reduce uncertainty in the near term and has understandably been greeted positively by the markets this morning,' Allen-Reynolds said. 'But the fine details of the deal may not yet have been agreed. And President Trump could still change his mind even after the deal has been finalized and signed.' Investors are bracing for a jam-packed week for markets. In addition to the closely watched monthly jobs report, there's a slew of corporate earnings, including results for four of the seven companies in the so-called Magnificent Seven tech stocks: Meta and Microsoft on Wednesday and then Amazon and Apple on Thursday. Companies that account for 37% of the S&P 500's market weight will report their second-quarter earnings this week, according to analysts at Deutsche Bank, signifying its importance for Wall Street. The Federal Reserve on Wednesday is set to make a decision on interest rates. Global investors will also be keeping an eye on the Bank of Canada, set to announce a decision on rates the same day; as well as the Bank of Japan, which is set to make an announcement on interest rates on Thursday. 'The Fed is likely to stay in wait-and-see mode in July, with an emphasis on data dependence,' analysts at Bank of America said in a note. Jan Hatzius, chief economist at Goldman Sachs, said he expects the Fed to hold rates steady at this meeting before beginning a rate-cutting cycle that includes quarter-point cuts in September, October and December, followed by two more in 2026. Commerce Department data due Wednesday will showcase the initial reading of how much the economy grew (or contracted) in the second quarter. The US economy in the first quarter contracted for the first time in years. Investors earlier this year were concerned about the prospects of the US economy sliding into recession due to the impact of tariffs. A recession is often defined as two consecutive quarters of the economy contracting. Representatives from Washington and Beijing are meeting in Sweden this week to discuss trade. Ed Yardeni, president of Yardeni Research, said in a note that he expects economic data and earnings to provide a boost to stocks, regardless of trade deal news. 'The financial markets anticipated the latest deal, and the reaction to it is likely to be relatively muted this week,' Yardeni said. 'More important will be the slew of labor market indicators this week, culminating on Friday with the release of July's employment report.' Yardeni said he thinks the labor market is doing well, and he expects stocks to continue climbing higher if the big tech companies post earnings results that exceed expectations.
