Bitget LaunchX to Support Jambo’s $5 Million Fundraising for Satellite Launch Program

VICTORIA, Seychelles, Jan. 17, 2025 (GLOBE NEWSWIRE) — Bitget, the leading cryptocurrency exchange and Web3 company, is proud to announce the upcoming LaunchX event for Jambo, the world’s largest on–chain mobile network. Jambo aims to raise $5 million through a token sale on Bitget LaunchX to fund its ambitious satellite launch program, an initiative designed to connect a global network of JamboPhones and expand access to decentralized services.

Jambo is a global leader in the blockchain ecosystem through its $99 crypto–native smartphone, the JamboPhone. With over 700,000 units sold in 2024 alone, the company is at the forefront of bringing Web3 technologies to emerging markets. The satellite program is the next phase to vertically integrate borderless data access to JamboPhone users around the world.

The JamboPhone is an affordable, high–spec device pre–installed with Web3 applications, enabling users to engage in decentralized finance, gaming, and earning opportunities. With its satellite program, Jambo is taking its ecosystem to the next level by securing uninterrupted user data access, even in remote areas with limited internet connectivity.

LaunchX is Bitget’s premier token launch platform, enabling users to access early–stage crypto projects with strong fundamentals and innovative goals. By participating in LaunchX, users not only gain access to promising tokens but also contribute to the advancement of revolutionary technologies.

Gracy Chen, CEO of Bitget, remarked: “Jambo’s vision of connecting the world through blockchain and mobile innovation aligns perfectly with our plan to support transformative projects. By facilitating Jambo’s satellite program through LaunchX, we aim to empower their efforts in bridging the digital divide and unlocking the potential of Web3 for emerging markets. This is a testament to Bitget’s commitment to enabling projects that drive long–term value for the global crypto ecosystem.”

Jambo’s satellite launch initiative represents a bold move to integrate its connectivity infrastructure vertically. The program seeks to provide reliable internet access to over 3 billion people who currently lack connectivity, empower crypto adoption through consistent data access, and future–proof its network for the growing demands of the decentralized world.

“By owning our connectivity infrastructure, we can ensure that our users always stay connected to the decentralized economy,” said James Zhang, CEO of Jambo. “The satellite program not only strengthens the JamboPhone’s competitive edge but also creates new possibilities for blockchain–based mobile applications, from decentralized validators to peer–to–peer networking.”

Jambo ($J) is the second project featured on Bitget LaunchX, following the successful launch of Fuel Network ($FUEL), which raised its target of $5.5 million with overwhelming interest, receiving a total commitment of over 400 million USDT from 141,430 participants.

The Jambo ($J) token lies at the heart of Jambo’s ecosystem, offering rewards, discounts, and payouts that fuel the decentralized economy envisioned by the company. Through Bitget LaunchX, users can join this pioneering initiative and be part of a journey that merges blockchain, hardware, and connectivity.

For more details on how to participate in the LaunchX event for Jambo, visit here.

About Bitget

Established in 2018, Bitget is the world's leading cryptocurrency exchange and Web3 company. Serving over 45 million users in 150+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions, while offering real–time access to Bitcoin priceEthereum price, and other cryptocurrency prices. Formerly known as BitKeep, Bitget Wallet is a world–class multi–chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, token swap, NFT Marketplace, DApp browser, and more.
Bitget is at the forefront of driving crypto adoption through strategic partnerships, such as its role as the Official Crypto Partner of the World's Top Football League, LALIGA, in EASTERN, SEA and LATAM market, as well as a global partner of Turkish National athletes Buse Tosun Çavuşoğlu (Wrestling world champion), Samet Gümüş (Boxing gold medalist) and İlkin Aydın (Volleyball national team), to inspire the global community to embrace the future of cryptocurrency.

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GLOBENEWSWIRE (Distribution ID 1001043602)

Africa & Europe Must Join Forces to Protect Our Ocean by Pressing Pause on Deep Sea Mining

Marine life photographed on National Oceanic and Atmospheric Administration (NOAA) survey of deep-sea habitats. Credit: NOAA

By Nancy Karigithu and Pascal Lamy
DAVOS, Switzerland, Jan 17 2025 – Deep-sea mining may not be on the official agenda next week at the World Economic Forum in Davos (January 20-24), but restoring public trust in international cooperation is.

Perhaps the most significant commitment African and European leaders can make here to restore trust in their ability to solve complicated problems, and one that safeguards our planet’s health and interconnected ocean, is to call for a pause on deep-sea mining in international waters.

As co-chairs of the Africa-Europe Strategy Group on Ocean Governance, an initiative of the European Commission, in partnership with the African Union Commission, and facilitated by the Africa-Europe Foundation, we have already begun discussing how both continents could benefit from greater collaboration in fisheries management, marine pollution, and habitat protection, especially in the face of climate change.

Now, with Global North mining corporations pushing the International Seabed Authority (ISA) to approve commercial deep-sea mining in 2025 with no agreed regulations and no environmental safeguards, we must urgently turn our attention and global influence to the ocean floor.

Already, permits have been granted to prospect for potato-sized polymetallic nodules that contain elements like cobalt and nickel. Unfortunately, the mining process amounts to dragging bulldozers across the seafloor thousands of meters below the surface and vacuuming the nodules back up to ships where they are cleaned with high-pressure hoses, leaving vast clouds of silt in their wakes.

Scientists have increasingly been sounding the alarm about the potential impacts of the operations on fragile marine habitats, with the likelihood that deep-sea mining could irreversibly destroy species and ecosystems.

Once thought to be nearly devoid of life, and contrary to the traditional knowledge of indigenous and coastal communities, new research has revealed an environment teeming with numerous species of fish, squid, and crustaceans (many only recently discovered) that play an essential role in the wider global ocean system, including African and European fisheries.

Other research suggests that disturbing seabed sediments could disrupt our planet’s largest carbon sink and potentially release carbon into the atmosphere and compound the climate crisis when we can least afford it.

Both continents depend on a healthy marine environment for fisheries, tourism and food security. Yet, even as they struggle to manage unprecedented pressures from over-exploitation, rapidly warming waters, pollution and acidification, deep-sea mining looms as a potentially catastrophic threat with far-reaching impacts that do not recognize national borders.

Proponents of the mining, possibly even some in Davos, argue that it is necessary to satisfy growing demand for batteries used in the burgeoning electric vehicle market. But with research suggesting that deep-sea metals are not needed to fuel the green transition, including the astronomical costs and growing liabilities with the industry, companies have already begun moving away from the industry to invest in alternatives, including innovative battery chemistries and recycled materials.

It is unlikely that deep-sea mining would ever be profitable without large government subsidies that could be better spent on improved refining and processing capacity, renewable technologies and energy efficiency.

Given these enormous risks (and questionable benefits), an Africa-Europe led pause on deep-sea mining is simply a prudent application of the precautionary approach that has guided marine conservation and international environmental treaties for decades. It would also align with key principles set out in the UN High Seas Treaty, such as conservation, sustainable use and benefit sharing.

Moreover, it would lay the groundwork for even greater collaboration, including ocean research initiatives, marine genetic resources found in the deep ocean, ocean planning, applied local community and indigenous knowledge, and the establishment of dedicated research institutions that draw on the immense talent and experience available in both continents.

Political momentum against deep-sea mining is building. Today, 32 countries have announced their support for a moratorium, a precautionary pause, or an outright ban, joined also by scores of indigenous and civil society groups, major companies, financial institutions, science and policy experts from around the world. .

If we have learned one lesson from working on global challenges over the past few decades it is how enormously difficult it is to bring about change once powerful interests become entrenched. This year, deep-sea mining corporations are pressuring the ISA to approve full-scale commercial operations.

Without immediate action from world leaders at Davos, deep-sea mining and its destruction, could become entrenched for decades. Africa and Europe have a unique opportunity to demonstrate the value of international cooperation by stopping this harmful practice before it starts.

Pascal Lamy, Co-chair of the Africa-Europe Strategy Group on Ocean Governance, Vice-President of the Paris Peace Forum, Former Director-General of the World Trade Organisation, and Former European Commissioner on Trade Commissioner; and Ambassador Nancy Karigithu, Co-chair of the Africa-Europe Strategy Group on Ocean Governance, Kenya’s Ambassador and Special Envoy & Advisor to the President on Maritime and Blue Economy and former Principal Secretary for Shipping and Maritime Affairs for the Government of Kenya.

IPS UN Bureau

 


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