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Earthquake hits downtown Hanoi in Vietnam

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In the early hours of the morning, residents of downtown Hanoi were jolted awake by the tremors of a 4.0 magnitude earthquake. The seismic event, which occurred at a shallow depth, was felt across the city, causing alarm and prompting immediate responses from emergency services.

The earthquake’s epicenter was located just outside the city limits, and while it did not cause significant damage, it serves as a stark reminder of the importance of earthquake preparedness in urban areas. Buildings in downtown Hanoi swayed as the earth moved, but thankfully, due to stringent building codes and the depth of the quake, no collapses were reported.

Authorities were quick to assess the situation, ensuring that power and communication lines remained intact. Emergency response teams were dispatched to key areas to provide assistance and reassurance to the public. The city’s infrastructure held up well against the quake, a testament to the resilience built into the urban environment.

While this event was minor with no significant damage, it raises questions about the most earthquake-prone areas in the region.

Hanoi sits in a moderate seismic zone. However, the Red River Fault, running near the city, is a known source of seismic activity. This fault, along with others in the region, contributes to the seismic risk in northern Vietnam.

Hanoi’s building codes specify design standards that include seismic considerations, such as the use of flexible structures and materials that can absorb and dissipate seismic energy. These standards are informed by both historical data and geological assessments of the area.

The effectiveness of these codes was evident as buildings in downtown Hanoi remained intact despite the shaking. The city’s adherence to these regulations has been a key factor in preventing structural damage and ensuring the safety of its residents.

In light of this event, authorities may consider reviewing and updating these codes to incorporate the latest in seismic research and technology. Such proactive measures are essential in maintaining the resilience of Hanoi’s urban landscape against future earthquakes.

The recent earthquake’s epicenter was located just outside Hanoi’s city limits, and while it was felt throughout downtown, it did not result in any severe consequences. This incident serves as a reminder of the potential risks and emphasizes the need for awareness and preparedness.

Seismologists note that while Hanoi is not the most earthquake-prone area in Vietnam, it is still susceptible to seismic events. The most vulnerable regions are typically those along tectonic plate boundaries or overactive faults.

This event underscores the importance of stringent building codes and disaster preparedness plans. As urban development continues, prioritizing these measures will be crucial in minimizing risks and ensuring public safety in earthquake-prone areas.

As daylight broke, life in downtown Hanoi began to return to normalcy. The earthquake was a brief but potent interruption to an otherwise peaceful morning. Citizens took to social media to share their experiences, with many expressing gratitude that the event was not more severe.

This incident highlights the unpredictable nature of earthquakes and underscores the need for continuous investment in disaster preparedness and response systems. It is a call to action for cities around the world to learn from such events and strengthen their own readiness for natural disasters.

The community’s calm and orderly reaction to the earthquake is commendable, and it is clear that preparedness plans were effective in this instance. Moving forward, it will be essential for residents and authorities alike to remain vigilant and proactive in mitigating the risks posed by earthquakes.

Congrats Revna Biosciences on your GIZ grant

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Congrats Revna Biosciences on your GIZ grant: “We are excited to announce that our unwavering commitment to advancing molecular diagnostics and precision medicine has been recognized with a significant grant award from the develoPPP Ventures program of GIZ (Investing responsibly. Promoting development – develoPPP), commissioned by the German Federal Ministry for Economic Cooperation and Development.”

Tekedia Capital is proud of what you have accomplished in molecular diagnostics and precision medicine and with this grant from GIZ, you will do more.  You validate our thesis of funding the future of Africa through entrepreneurial capitalism.

All our members at Tekedia Capital Syndicate congratulate not just for the grant but the fact that you are impacting lives via molecular diagnostics and precision medicine.

Business Financing and Unlocking Africa’s Corporate Credit Card Opportunities | Tekedia Mini-MBA

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Credit is a very important component of the market system. Today, at Tekedia Mini-MBA LIVE, we will discuss innovations in the credit world. Yes, with data, young people are building companies, using data to evaluate credit worthiness, and offering credits.

As Tekedia Mini-MBA moves into the execution phase of our three core themes of innovation, growth and operational execution, we will be bringing innovators who are pioneering business categories in Africa and beyond.

Evea offers credits to corporate clients. They give you a corporate credit card and you can spend. As they do that, they offer spend management, etc, solutions to help that firm optimize its financial management.

Open your credit worldview and see how smart credit can unlock opportunities in your trade, business or venture. Credit works for both buyer and seller, and we want to master the mechanics of credit business to advance the mission of firms.

Tue, March 26 | 7pm-8.00pm WAT | Business Financing and Unlocking Africa’s Corporate Credit Card Opportunities – Abeeb Ogunsola, Evea | Zoom link 

Bitcoin Halving 2024: Predictions And Analysis

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As the Bitcoin Halving period draws closer, several analyses have been put forward by different crypto platforms, enthusiasts, and investors, ahead of the event.

Bitcoin halvings are a pivotal event in the Bitcoin ecosystem that significantly impacts its supply, demand, and price. The event involves reducing the mining rewards given for adding new blocks to the blockchain.

What is Bitcoin Halving?

Bitcoin halving is a programmed event in the Bitcoin network that involves the reduction if reward given to miners for processing transactions and adding new blocks to the blockchain. 

Occurring approximately every four years, this event reduces the rate at which new bitcoins are generated. The primary purpose of halving is to control Bitcoin’s supply, ensuring it remains finite with a maximum cap of 21 million coins. 

Halving affects Bitcoin by potentially increasing its value over time due to the reduced supply of new coins entering the market, aligning with the principles of supply and demand.  This event is essential to Bitcoin’s deflationary nature, making it an intriguing asset that mimics the scarcity properties of precious metals like gold.

However, after every 210,000 blocks or roughly four years, there is a halving wherein miner rewards get slashed by half. This process makes Bitcoin supply diminish over time, making it a digitally scarce asset with each passing event of the halving. Notably, three Bitcoin halvings have occurred since Bitcoin’s inception in 2009, with the last halving occurring in 2020.

A look at the previous halving events

  • The first halving occurred on November 28, 2012, when the block reward was reduced from 50 to 25 Bitcoins. This event was followed by a notable increase in Bitcoin’s price, a pattern that has been observed with subsequent halvings. The 2012 halving saw Bitcoin’s price soar from about $12 to over $200 within a year.
  • The second halving took place on July 9, 2016, reducing the reward to 12.5 Bitcoins, and was again followed by a significant price surge in the following year. After the 2016 halving, Bitcoin reached a high of about $19,700 in December 2017.
  • The most recent, the third halving, occurred on May 11, 2020, further reducing the reward to 6.25 Bitcoins. Following the May 2020 halving, Bitcoin’s price eventually hit nearly $69,000 in November 2021. Each halving event has led to speculative anticipation, increased media attention, and considerable price volatility leading up to and following the event.

According to estimates, the next halving event is expected to occur in April 2024. This will be the fourth halving in Bitcoin history. During this event, mining rewards will decrease from the current 6.25 Bitcoin per block to 3.125 BTC per block added to the blockchain.

While history may not repeat itself, with previous halving outcomes, it certainly rhymes. Previous halving events have led to increase in price, which is usually caused by the upcoming supply shock. Also, it is worth noting that the current cycle sees new demand sources, particularly from institutional investors through newly launched spot Bitcoin ETFs.

Thomas Fahrer, Co-founder of ApolloSats, a network that allows bitcoins to review products they love, find those they can trust and earn, has urged crypto investors to keep stacking more Bitcoin ahead of the halving event.

He wrote,

“Bitcoin is in the exact opposite position of when it was 67K in 2021. FTX was short the market, flooding it with paper BTC. Interest rates were set to rise. We were years from a halving. The ETFs were just a dream. This is the complete reverse. A perfect setup. Keep stacking.”

As we approach the April 2024 halving event, investors are urged to prepare for increased volatility, possible consolidation within the mining industry, and potentially consequential shifts in the broader cryptocurrency market.

Here is an overview of previous scenarios of the Halvings event

  • Increased volatility: As evidenced by past data, bitcoin has experienced significant price moves during halving years. While, historically, those moves have been higher, the opposite could occur.
  • Consolidation within the bitcoin mining industry: Lower block rewards may impact less efficient miners’ profitability, possibly causing some to cease operations.
  • Potential for higher prices in other cryptocurrencies: While the halving is specific to bitcoin other cryptocurrencies have made notable moves during halving years as well. Ether, which has historically maintained a strong correlation to bitcoin prices, rose from $129.63 to $737.80 during the 2020 halving, a 469% increase.

While price increases have followed past halvings, investors are advised to approach this year’s halving event cautiously, as numerous factors can influence the outcome.

Experts predict a varied impact of the 2024 halving on Bitcoin’s price, with some analysts suggesting it could drive the price to $160,000 influenced by factors like the spot exchange- traded fund (ETF) hype. However, risks remain, and the exact outcome is uncertain.

London Stock Exchange Marks Groundbreaking Moment: Embraces Crypto Investments With Bitcoin And Ethereum Listings

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In a groundbreaking move, the London Stock Exchange (LSE) has embraced the world of cryptocurrency investments by announcing listings for Bitcoin and Ethereum crypto exchange-traded notes (ETNs) for professional investors.

This historic decision marks a significant shift in the United Kingdom’s financial landscape, as it opens its doors to digital assets which will commence in the second quarter of 2024.

The London Stock Exchange (LSE) which unveiled this plan on Monday, announced the acceptance of applications for Bitcoin and Ethereum ETNs, as confirmed by the FCA’s stance of non-objection.  While the exact launch date has not been disclosed, the LSE has assured stakeholders that the information on the commencement will be communicated in due time.

This development introduces a focused market segment in the UK for investors looking to diversify into digital assets. By utilizing ETNs, investors trade in products that resemble bonds with added cryptocurrency. However, it is important to note that crypto ETNs admitted to trading on the London Stock Exchange will be exclusively available under trading segments designed as “Professional investors only”, excluding retail traders from participation.

The LSE has further outlined stringent requirements for crypto ETNs seeking admission. These include being physically backed, non-leveraged, possessing a reliable and publicly available market price or value measure for the underlying crypto assets, and having Bitcoin or Ethereum as the said underlying assets.

Additionally, the underlying crypto assets must be held by custodians subject to Anti-Money Laundering (AML) regulations in various jurisdictions, including the United Kingdom, European Union, Jersey, Switzerland, or the United States.

This move follows a recent update from the Financial Conduct Authority (FCA), the UK’s financial industry watchdog, concerning crypto ETNs for professional investors. The FCA’s revised position sets the stage for Recognised Investment Exchanges (RIEs) to create a UK-listed market segment specifically for crypto asset-backed Exchange Traded Notes (CETNs).

While supporting the creation of a UK-listed market segment for crypto asset-backed ETNs for professional investors, the FCA maintains its skepticism regarding retail consumers’ involvement in these instruments. The ban on selling crypto ETNs and derivatives to retail consumers, implemented in January 2020, remains in effect.

Despite a previously tepid environment for cryptocurrency investments, with the UK parliament’s Treasury committee in 2023 urging the government to regulate cryptocurrency trading as a form of gambling rather than a financial service, the move by LSE signifies a significant shift.

Also, recall that the UK’s current prime minister Rishi Sunak, who was then the chancellor of the Exchequer over a year ago, made moves to make Britain a global hub for crypto asset technology and investment.

Announcing this, he said;

“It’s my ambition to make the UK a global hub for cryptoasset technology, and the measures we’ve outlined today will help to ensure firms can invest, innovate and scale up in this country. We want to see the businesses of tomorrow and the jobs they create here in the UK, and by regulating effectively, we can give them the confidence they need to think and invest long-term. This is part of our plan to ensure the UK financial services industry is always at the forefront of technology and innovation”.

By recognizing the potential of cryptocurrency and regulating it now, the move signifies a recognition of the growing importance and legitimacy of cryptocurrencies in the global economy. By offering listings for Bitcoin and Ethereum, the London Stock Exchange is not only catering to the increasing demand for crypto investment options but also signaling its readiness to adapt to the evolving needs of investors in the digital age.

This bold step will no doubt attract a new wave of institutional investors who have been eagerly awaiting mainstream avenues to access cryptocurrencies within the traditional financial system. Also, it paves the way for further integration of digital assets into established financial markets, potentially unlocking new avenues for capital flows and investment opportunities.