Paradigm says SEC ‘wrongfully’ charged crypto exchange Bittrex

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July 13, 2023

Paradigm, a leading crypto investment firm, has issued a statement defending its partner Bittrex, a popular crypto exchange, against the charges filed by the U.S. Securities and Exchange Commission (SEC) last week. The SEC accused Bittrex of violating federal securities laws by operating an unregistered securities exchange and facilitating illegal sales of digital asset securities.

In its statement, Paradigm said that the SEC’s allegations are “wrongful, unfounded, and contrary to the facts”. Paradigm argued that Bittrex is not an exchange, but a platform that enables peer-to-peer transactions of various digital assets, including cryptocurrencies, tokens, and stablecoins. Paradigm also claimed that Bittrex has complied with all applicable laws and regulations and has implemented robust anti-money laundering (AML) and know-your-customer (KYC) policies and procedures.

Paradigm further stated that the SEC’s action is “an attempt to stifle innovation and competition in the crypto industry”, and that it will “vigorously defend” Bittrex in court. Paradigm expressed its confidence that Bittrex will prevail in this case, and that it will continue to support Bittrex and its mission to provide a safe and secure platform for crypto users around the world.

In response to the SEC’s allegations against Bittrex, one of its partner exchanges. The SEC accused Bittrex of operating an unregistered securities exchange and facilitating the sale of digital asset securities that are subject to federal securities laws.

In its statement, Paradigm said that it was “surprised and disappointed” by the SEC’s action, which it called “wrongful” and “unwarranted”. Paradigm claimed that Bittrex is a fully compliant and regulated exchange that has been operating in good faith and in accordance with the law. Paradigm also said that it has been cooperating with the SEC and providing information about its business model and operations.

Paradigm argued that the SEC’s allegations are based on a “misunderstanding” of the nature and function of crypto assets and the role of exchanges in facilitating their trade. Paradigm said that crypto assets are not securities, but rather innovative and decentralized forms of value transfer that empower users and foster financial inclusion. Paradigm also said that exchanges are not issuers or intermediaries of securities, but rather platforms that enable peer-to-peer transactions among consenting parties.

Paradigm expressed its confidence that it will be able to demonstrate the validity and legality of its activities and those of Bittrex in court. Paradigm said that it will continue to serve its customers and partners with the highest standards of professionalism and integrity. Paradigm also said that it will continue to advocate for a clear and fair regulatory framework for the crypto industry that respects innovation and protects investors.

The Evolution of Artificial Intelligence And Its Impacts on Employees

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Ojukwu Emmanuel

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July 13, 2023

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Looking at the world today, with the rapid development of AI technologies, it is safe to say that Artificial Intelligence is no longer a technology of the future, the AI era is here.

With advancements in generative AI tools, Computer Vision, machine learning, Virtual agent, and language processing, amongst others, AI is no longer a futuristic dream but a current reality.

Artificial Intelligence has come a long way since its inception, evolving from the realm of science fiction into an increasingly indispensable technology that’s transforming industries and lives worldwide.

Technology has permeated every aspect of our lives, revolutionizing numerous industries which include fields such as finance, national security, transportation, health care, transportation, and several others.

Artificial intelligence is transforming every walk of life, which has seen several companies across the globe integrate the technology into their products, to improve work and enhance user experience.

One of the reasons for the growing role of AI is the tremendous opportunities for economic development that it presents. Governments across the globe are investing heavily in Artificial Intelligence which they believe will drive productivity across the economy.

A project undertaken by PriceWaterhouseCoopers estimated that artificial intelligence technologies could increase global GDP by $15.7 trillion, a full 14%, by 2030.

As several tech experts posit that technological innovations lead to a range of positive and negative consequences, this is true for Artificial Intelligence.

Despite the impressive progress of AI, there are still challenges and ethical concerns that must be addressed as the technology continues to evolve. Issues such as Privacy concerns, security, bias, and the potential misuse of AI are critical issues that require careful consideration and regulation.

Ensuring AI’s transparency and explainability is essential, to minimize the potential for algorithmic bias. Meanwhile, let’s take a look at how Artificial Intelligence will impact employees.

The Impact of AI on Employees

With several companies across the globe already adopting Artificial Intelligence, this has impacted a lot of employees, leading to mass layoffs of workers.

A report by investment Bank Goldman Sachs says Artificial Intelligence (AI) could displace the equivalent of 300 million full-time jobs. The report also predicts two-thirds of jobs in the U.S. and Europe are exposed to some degree of AI automation, and around a quarter of all jobs could be performed by AI entirely.

Recently, a 31-year-old CEO and founder of Bengaluru-based Duukan, which helps merchants to set up online stores and sell products digitally, laid off 90% of its support team, replacing them with AI Chatbot.

The CEO disclosed that the AI assistant could answer customer queries instantly and precisely, and doesn’t receive any wages or sick leave, unlike humans. He further added that the Al chatbot took under two minutes to respond to customer queries, whereas human staff took two hours, and that replacing the team has reduced support costs by 85%.

Notably, companies such as IBM, an American multinational technology corporation disclosed that they intend to stop hiring for jobs that could potentially be performed by generative artificial intelligence, which is expected to impact 300 million full-time jobs globally.

Experts predict that AI’s impact will vary across different sectors, which will see 46% of tasks in administrative and 44% in legal professions automated, but only 6% in construction and 4% in maintenance.

How Employees Can Navigate the Current Artificial Intelligence Evolution

The uncertainty surrounding the future of human employment following the evolution of Artificial Intelligence is already apparent, as AI-controlled chatbots and machines are poised to keep getting better and better at what they do.

A publication on Forbes disclosed that jobs in agriculture, mining, healthcare, and manufacturing are the least exposed to generative AI, while jobs in the information processing industries, like IT, finance, and banking, are the most exposed because jobs that use programming and writing skills are more closely related to GPT’s capabilities.

A report stated that stress and anxiety over job losses caused by Al have led to 80% of tech workers using medications, either under a doctor’s supervision or otherwise, as coping mechanisms.

As AI roles seem poised to continue growing, it is pertinent for employees to seek new ways to make progress in their careers. They must come to see technology not as a menace to their jobs, but as a collaborator capable of improving their work lives.

This comes down to thinking about how to use technology to identify what the next opportunity is for them, and not just to identify it, but to point to the right courses and skills that they are going to need to make that transition.

One notable thing employees must do in the wake of AI evolution is to upskill. Upskilling Is the key to success with AI. While AI might lead to displacements of thousands of jobs, some opinion pieces project that AI will create up to 90 million jobs by 2025.

AI is here to stay, and the faster one can learn to put it to work to boost productivity, the better. This will require digitally savvy workers who can think strategically and adapt to a fast-changing workplace. Al offers employees the chance to grow new skill sets and apply those skills efficiently to

work that is in demand. Therefore, employees are encouraged to prioritize the development of skills that can’t be displaced by AI, and also skills that are beyond the reach of AI and automation technology.

Conclusion

As we navigate an ever-evolving business landscape and workplace, automation has firmly established itself as a crucial component of contemporary enterprises.

One must bear in mind that automation is only a new chapter that comes with AI evolution. This means that embracing change and focusing on AI skills is crucial as the world drifts towards a more automated future.

Employees can capitalize on the fact that with automation, organizations can streamline their operations, reduce costs, and improve efficiency. Rather than being discouraged and anxious over potential job loss to AI technology, they should be encouraged and empowered to concentrate on high-value skills in line with Artificial Intelligence.

While they can’t control what new technology emerges, they can control how to use it to their advantage. They can guarantee that AI and automation will become positive forces for growth and development by directing their attention toward its more creative applications.

PwC says Hedge Funds are Showing Robust Confidence in Crypto

By

Paul Ugbede Godwin

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July 13, 2023

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The cryptocurrency market has been experiencing remarkable growth in the past year, despite the challenges posed by the Covid-19 pandemic and the regulatory uncertainty. According to a recent report by PwC, a global professional services firm, hedge funds are among the most bullish investors in this emerging asset class.

PwC is one of the leading providers of audit, tax, and advisory services to the crypto industry, with a dedicated global team of experts and a network of over 100 clients. PwC also supports various initiatives and organizations that aim to foster innovation and education in the crypto space, such as the Crypto Valley Association, the World Economic Forum, and the Global Blockchain Business Council.

The report, titled “PwC Crypto Hedge Fund Report 2023“, surveyed 150 crypto hedge funds from around the world, covering various aspects of their operations, strategies, performance and outlook. The report revealed that the average assets under management (AUM) of crypto hedge funds increased by 233% in 2022, reaching $3.8 billion. The median AUM also rose by 189%, reaching $164 million.

The number of traditional hedge funds investing in crypto-assets fell to 29% – down from 37% last year – however no traditional hedge fund plans to decrease exposure in 2023
23% of traditional hedge funds are reassessing their crypto strategy due to the regulatory environment in the US; 12% of crypto hedge funds are considering relocating from the US to crypto-friendly jurisdictions
93% of crypto hedge funds expect the market capitalisation of crypto-assets to be higher at the end of 2023 than 2022
31% of traditional hedge funds view tokenisation as the biggest opportunity in 2023; 25% of traditional hedge funds – including those not currently invested in crypto – say they are exploring tokenisation

The report also showed that crypto hedge funds are diversifying their portfolios, investing in a variety of digital assets beyond Bitcoin and Ethereum. The top five most popular cryptocurrencies among crypto hedge funds in 2022 were Bitcoin (88%), Ethereum (75%), Polkadot (42%), Cardano (38%) and Solana (36%). The report also noted that crypto hedge funds are increasingly using decentralized finance (DeFi) protocols and non-fungible tokens (NFTs) as part of their strategies.

One of the main drivers of the growth and confidence of crypto hedge funds is the increasing institutional adoption of cryptocurrencies. The report highlighted that 82% of crypto hedge funds reported an increase in institutional investors in their funds in 2022, compared to 64% in 2021. The most common types of institutional investors were family offices (52%), high-net-worth individuals (48%) and pension funds (32%).

The report also revealed that crypto hedge funds are optimistic about the future of the cryptocurrency market, expecting it to reach $5.6 trillion by the end of 2023, up from $2.1 trillion at the end of 2022. The report also stated that 96% of crypto hedge funds plan to increase their exposure to crypto assets in the next 12 months, while only 4% plan to decrease it.

The report concluded that crypto hedge funds are playing a vital role in the development and maturation of the cryptocurrency industry, providing liquidity, price discovery and innovation as they expect to increase their exposure and diversify their portfolios. PwC also predicts that the sector will continue to grow and mature, attracting more institutional and professional investors. The report also suggested that crypto hedge funds will continue to attract more institutional investors, as they offer attractive returns, diversification benefits and exposure to a new asset class.

Solution to World Peace – Turn NATO Into A United Nations Arm With NATO’s Article 5

By

Ndubuisi Ekekwe

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July 13, 2023

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President Biden and UN Sec General Guterres, I am happy to announce that after a generation-shaping research I did on LinkedIn, Twitter and Facebook, that I have found an answer for world peace. Here is the solution based on feedback during this research (research question here )

Solution for enduring World Peace: Convert NATO into an arm of the United Nations where all nations become members of NATO by fiat, and have a clause that an attack on one nation is an attack on all.

Now, I need my Nobel Peace Prize because I have solved the world’s main problem. Congratulate me, people.

Article 5 provides that if a NATO Ally is the victim of an armed attack, each and every other member of the Alliance will consider this act of violence as an armed attack against all members and will take the actions it deems necessary to assist the Ally attacked.

Is Uwerx (WERX) The Next Freelance Industry Heavyweight?

By

TI Partners

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July 13, 2023

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Uwerx is a cryptocurrency that transcends the ordinary and revolutionizes the freelance industry. This remarkable project is not just about transactions but transforming how freelancers work and thrive.

Uwerx’s groundbreaking presale has laid the foundation for its success, while its innovative platform redefines the traditional freelance landscape. Keep reading as we explore Uwerx’s unique features and witness firsthand the transformative force that sets it apart.

Uwerx (WERX): Empowering Freelancers and Revolutionizing the Gig Economy

Uwerx is set to be a groundbreaking freelance platform that will cause a revolution in the freelancing industry. The project is igniting excitement among investors and freelancers alike. By integrating blockchain technology into its platform, Uwerx will provide a platform with the best solutions to solve the challenges facing the freelancing industry.

Setting itself apart from traditional freelancing platforms, Uwerx strongly emphasizes fairness and cost-effectiveness. With a nominal transaction fee of only 1%, Uwerx empowers freelancers to retain a larger share of their hard-earned income than industry giants like Upwork and Fiverr, which charge significantly higher fees. This user-centric fee structure positions Uwerx as a game-changer, enabling freelancers to maximize their earnings and thrive in a highly competitive market.

Uwerx’s growing prominence in the industry has attracted attention from prominent platforms. Notably, Uwerx has already been listed on CoinSniper, a leading cryptocurrency listing platform, enhancing its visibility and reaching a broader audience of potential investors. Furthermore, Uwerx’s upcoming listing on Uniswap, scheduled for August 1st, presents an exciting opportunity for investors to engage with the project and capitalize on its potential for growth and adoption.

Uwerx’s commitment to transparency and security is unwavering. The project’s contracts will be renounced, ensuring a seamless transition to centralized exchanges while reducing taxes to zero. By embracing these measures, Uwerx demonstrates its dedication to providing a secure and stable environment for freelancers and clients, fostering trust and confidence within the community.

The exceptional caliber of Uwerx’s project has not gone unnoticed. The platform has undergone rigorous audits by reputable firms such as SolidProof and InterFi Network. These audits testify to Uwerx’s commitment to upholding the highest security standards and ensuring a seamless user experience.

Also, the team is actively developing the Alpha version of the platform; more updates have been added to the PDF version. This comprehensive release comprises ten informative pages that guide users through various platform functionalities. The pages include signing up and logging in, managing passwords, and initiating freelancer or client roles.

Also, there are details on creating jobs, finding talent, tracking activities, and navigating the hiring dashboard. Furthermore, users can expect even more exciting updates and enhancements to be rolled out later this week, promising an improved and seamless user experience.

Components such as the landing page, sign-in/sign-up page, and user dashboard have already been unveiled, providing users with a glimpse into the intuitive interface of Uwerx. Uwerx is poised to transition from the Alpha to the highly anticipated Beta versions. This significant milestone will open the platform for broader testing and engagement.

Uwerx (WERX) Presale: A Gateway to the Future of Freelancing

Uwerx’s presale has laid a solid foundation for the project’s future success. It has attracted a robust community and showcased its commitment to transparency, security, and user-centricity. With the presale concluding on July 31st and the official Uwerx platform launch scheduled for August 4th, the journey toward revolutionizing the gig economy and empowering freelancers has just begun.

Uwerx’s presale has gained significant traction, reaching Stage 5 with commendable speed. Priced at $0.0315 per token, the presale provides early participants an attractive entry point into Uwerx’s vision. Moreover, a substantial 15% bonus accompanies every token purchase during the presale. The successful completion of presale stages 1 to 4 in record time reflects the growing interest and confidence of investors who recognize Uwerx’s potential for transformative growth.

Starting Friday, June 2nd at 15:00 UTC, the WERX price will experience an upward adjustment, reaching $0.05245. The Uwerx Vault is another unique feature that functions like the staking mechanism. The Uwerx Vault will allow investors to store their tokens safely for varying durations. They’ll also enjoy bonuses and incentives that’ll be determined by the platform’s variables.

In response to the remarkable speed of the presale and the community’s demands, the Uwerx team has modified token allocations, ensuring a fair and balanced distribution that aligns with the project’s vision of inclusivity and equity. These individuals contribute to a thriving ecosystem that values collaboration, fairness, and equal opportunities.

Stay tuned as Uwerx continues to disrupt the status quo, providing freelancers with unprecedented opportunities and redefining how we work and collaborate in the digital age. Join the Uwerx revolution and be part of the future of freelancing.

You can access more information using these links:

Presale: invest.uwerx.network

Telegram: https://t.me/uwerx_network

Twitter: https://twitter.com/uwerx_network

Website: https://www.uwerx.network/

Paradigm says SEC ‘wrongfully’ charged crypto exchange Bittrex

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