from Coinsilium Group Limited (isin : VGG225641015)
Coinsilium Group Limited: ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
Coinsilium Group Limited (COIN) COINSILIUM GROUP LIMITED ("Coinsilium" or the "Company")
ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024
COINSILIUM GROUP LIMITED STATEMENT OF THE BOARD OF DIRECTORS
Coinsilium Group Limited (“Coinsilium”, the “Group” or the “Company”), the Aquis quoted digital asset venture builder, investor and adviser, is pleased to announce its Final Results for the year ended 31 December 2024.
Financial Summary
The Directors present their report, together with the Group Financial Statements and Auditor’s Report, for the year ended 31 December 2024. The comparative period is the year ended 31 December 2023.
Review of the Year
Market Overview and Industry Developments – 2024 The year 2024 marked a strong resurgence in the digital asset markets, led by Bitcoin as the dominant force and primary driver of renewed investor confidence. Bitcoin’s price nearly doubled over the year, reaching a peak of approximately USD 106,000 in December 2024. This significant appreciation was fuelled by the long-anticipated approval and launch of spot Bitcoin ETFs in major markets, a marked increase in institutional allocations, and broadly supportive macroeconomic conditions. The broader cryptocurrency market followed Bitcoin’s lead, with total market capitalisation nearly doubling to reach USD 3.91 trillion in mid-December before consolidating at around USD 3.40 trillion (source: CoinGecko). Bitcoin retained its position as the most held and traded digital asset globally, underpinning the performance of the wider market and cementing its status as the bellwether for the industry. Institutional interest in Bitcoin accelerated significantly, with major asset managers, including BlackRock, expanding exposure through Bitcoin ETFs and related investment products. Bitcoin’s maturing profile as a macro asset class was further evidenced by its increasing inclusion in diversified portfolios and treasury strategies. Regulatory developments were equally noteworthy. In the U.S., the Financial Innovation and Technology for the 21st Century Act (FIT21) passed the House of Representatives, aiming to define a clearer framework for digital assets. The GENIUS Act, which advanced through the Senate, proposed a regulatory structure specifically for stablecoins, supporting broader adoption and integration. In Europe, the Markets in Crypto-Assets Regulation (MiCA) became fully applicable in December 2024, establishing a unified regulatory approach across EU member states. These measures are seen as vital steps toward institutionalising the market, particularly with regard to Bitcoin-related financial products. Venture capital investment into the crypto and blockchain sector totalled USD 2.4 billion in Q3 2024, demonstrating continued confidence in the space. Global cryptocurrency ownership rose by 13%, from 583 million in January to 659 million in December—with Bitcoin remaining the most widely held digital asset by both retail and institutional investors. North America remained the largest market by on-chain transaction volume, receiving an estimated USD 1.3 trillion between July 2023 and June 2024—much of this attributed to high-volume Bitcoin trading and investment flows. This underlines the region’s central role in the global Bitcoin economy and reinforces Bitcoin’s position as the leading digital asset shaping the trajectory of the wider crypto market.
Bitcoin Market – 2024 in Review Bitcoin remained the primary driver of the digital asset market throughout 2024, delivering a standout performance and reaffirming its position as the foundational asset in the cryptocurrency ecosystem. Bitcoin opened the year at USD 44,161.95 and closed at USD 93,586.33, representing an annual gain of more than 110%. This strong upward trajectory reflected growing investor confidence and a series of transformative developments that reshaped the market landscape. Key Performance Drivers1. Spot Bitcoin ETF Approvals 2. Bitcoin Halving Event 3. Pro-Bitcoin U.S. Policy Environment 4. Institutional Adoption and Maturation Conclusion For Coinsilium, these developments laid the groundwork for the opportunity to broaden its strategic scope in a manner aligned with its digital asset heritage. In early 2025, the Company launched Forza (Gibraltar) Limited (“Forza!”), its 100%-owned Gibraltar-registered subsidiary, established to operate as a dedicated Bitcoin-focused treasury for the Company. This initiative reflects the growing strategic importance of Bitcoin in the digital asset ecosystem and is intended to enhance the Company’s resilience and growth potential without altering the core nature of its business. At the core of Forza!’s formation lies a growing — though not yet widely appreciated recognition of the fundamental distinction between Bitcoin and other cryptocurrencies. As market awareness of this difference continues to build, a key part of Forza!’s mission will be to support and promote greater education and understanding around this point. This strategic shift in focus marks the beginning of a new chapter for Coinsilium — one that we expand upon in the Outlook section that follows. Operations, Investments and Financing In 2024, Coinsilium maintained its operational focus across its investment and advisory activities, with several engagements reflecting the Company’s established position within the Web3 and digital asset sector. Strategic Advisory Activities During the year, Coinsilium entered several engagements with early-stage projects, reflecting the Company’s longstanding expertise in token model design and go-to-market strategy. Notably, the Company entered into an agreement with Stabolut Limited, a decentralised, crypto-collateralised stablecoin venture backed by Bitcoin and Ethereum. Coinsilium’s role focused on supporting the development of Stabolut’s stablecoin and governance token strategy, as well as broader ecosystem planning. The project aims to deliver a decentralised alternative to fiat-backed stablecoins through a delta-neutral derivatives mechanism and is supported by partners including Dextools and Yellow Capital. A further agreement was signed with TAND3M, a decentralised token launchpad built on the TON blockchain and developed in partnership with Web3 tools provider Liteflow. Coinsilium provided advisory support across tokenomics, partnership development, and strategic positioning. In addition, the Company entered into an advisory agreement with LC Lite (later rebranded as Nexade), a project focused on integrating decentralised technologies into the global invoice finance market. Nexade concluded its token sale in December 2024, raising a total of USD 1.5 million. Coinsilium’s success fee tokens are subject to a defined vesting schedule and will be distributed over the course of that schedule. As stated when these agreements were announced to the market, the agreement terms often include a success payment, which is usually a fixed fee denominated in cryptocurrencies payable upon the successful completion of a project’s Token Generating Event (“TGE”). No revenues were recognised in the fiscal year of 2024 in relation to these agreements and the first fees in relation to these agreements are expected to be paid in the second half of 2025. Advisory Agreement post year In March 2025, Coinsilium announced a strategic advisory agreement with Context Protocol, a Layer 1 blockchain designed to power the AI economy by enabling verified AI Domains for trusted data exchange between AI agents, humans, and organizations. Coinsilium provides Context Protocol with comprehensive strategic guidance and support in the areas of tokenomics, partnerships, and market positioning. Investment Activity In July 2024, Coinsilium executed a SAFT agreement with the Otomato Web3 Automation Protocol, a project aiming to simplify complex DeFi trading strategies via a user-friendly automation layer. Under the agreement, Coinsilium secured USD 75,000 in future tokens with the option to increase its position by an additional USD 150,150. The Company also secured a revenue share of 7.5% from Otomato’s initial platform operations prior to the token listing event. While the public launch was originally targeted for Q4 2024, the Otomato team has since prioritised advanced testing and development in response to significant expressions of investment interest. Yellow Network Investment During 2024, Yellow Network — a Layer-3 decentralised clearing protocol for cross-chain crypto trading — made significant progress in advancing toward operational deployment. Coinsilium holds an early-stage investment in Yellow via a USD 200,000 SAFT agreement executed in 2022 and continues to regard the project as an important component of its portfolio, with the potential to deliver significant future value. Yellow’s technical roadmap continued to advance steadily throughout the year, with the team maintaining strong executional discipline as it works toward the launch of its live network infrastructure. The project’s core innovation lies in its trustless clearing system, which leverages state channel technology to enable real-time, cross-chain trading without custodians or intermediaries — a major step forward for decentralised market infrastructure. In September 2024, Yellow announced the successful closing of a USD 10 million seed funding round, led by Chris Larsen, Co-Founder of Ripple. This round was completed at a post-money valuation in excess of USD 200 million, representing a material uplift from Coinsilium’s entry point and underlining the market’s growing confidence in Yellow’s institutional relevance. Coinsilium is particularly encouraged by Yellow’s ability to maintain momentum through a sustained period of network development and infrastructure buildout. In a market often characterised by short-termism, the team’s continued focus on delivery and long-term execution is both impressive and reassuring. While further updates will be provided in the Outlook section of this report, it is worth noting that Yellow’s trajectory and potential for adoption in both DeFi and regulated financial markets support our expectation of meaningful long-term value creation from this investment. These activities were consistent with Coinsilium’s pre-2025 model of engaging with early stage decentralised ventures through a blend of advisory support and aligned investment. Financing On 8 March 2024, the Company completed a placing of 18.9 million new ordinary shares at 2.5 pence per share, raising £472,500 in gross proceeds. These funds were allocated toward general working capital and strategic investment activity. A further 3.356 million new ordinary shares were allotted in settlement of professional services, and 22.256 million warrants were issued at an exercise price of 3.75 pence, valid for a three-year term. Director participation in the subscription was as follows:
The financing provided the necessary operating runway during the year and facilitated the Company’s engagement with several Web3 projects, prior to the more significant structural and strategic developments that would unfold in early 2025.
The Company ended the period with the value of tradable crypto tokens of £480,372 and rights to future crypto tokens of £428,619 valued at cost. Cash and cash equivalents amounted to £286,999.
Director Share Purchases in 2024
During the period, the following trades were transacted on the market by directors:
Eddy Travia
Malcolm Palle
Director share purchases post period
Malcolm Palle
Eddy Travia
|