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Former SEC Chairman says Spot Bitcoin ETFs should be Approved

By
Paul Ugbede Godwin
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0

In a recent interview with CNBC, former Securities and Exchange Commission (SEC) Chairman Jay Clayton said that he believes the SEC should approve spot Bitcoin exchange-traded funds (ETFs), which are funds that track the price of Bitcoin directly and allow investors to buy and sell the cryptocurrency without having to deal with intermediaries or custody issues.

Clayton, who led the SEC from 2017 to 2020, said that he thinks the agency has done a good job in regulating the crypto space, but that there is still room for improvement. He said that one of the areas where the SEC could provide more clarity and certainty is in the approval of spot Bitcoin ETFs, which have been repeatedly rejected by the regulator over concerns about market manipulation, fraud, and lack of transparency.

I think we’re at the point where these products can be offered in a way that meets the investor protection standards that we apply to other products,” Clayton said. “I think there’s enough maturity in this market that we can have spot ETFs.

Clayton’s comments come at a time when the SEC is facing increasing pressure from the crypto industry and lawmakers to approve spot Bitcoin ETFs, especially after the agency greenlighted several futures-based Bitcoin ETFs in October. Futures-based ETFs track the price of Bitcoin futures contracts, which are derivatives that expire at a certain date and are traded on regulated exchanges. While futures-based ETFs offer some exposure to Bitcoin, they also introduce additional costs and risks, such as contango, rollover, and leverage.

Many crypto advocates argue that spot Bitcoin ETFs would be more beneficial for investors, as they would offer lower fees, higher liquidity, and more accurate price discovery. They also claim that spot Bitcoin ETFs would boost the adoption and innovation of the crypto sector, as they would attract more institutional and retail investors to the market.

However, the SEC has not yet shown any signs of changing its stance on spot Bitcoin ETFs. In fact, the agency has recently delayed or rejected several applications for spot Bitcoin ETFs from various firms, such as VanEck, Valkyrie, WisdomTree, and Kryptoin. The SEC has cited various reasons for its decisions, such as insufficient information, inadequate surveillance agreements, and unresolved legal questions.

The SEC’s reluctance to approve spot Bitcoin ETFs has also drawn criticism from some lawmakers, who have urged the agency to act more swiftly and transparently on the matter. For instance, Senator Cynthia Lummis, a Republican from Wyoming and a vocal supporter of crypto, said in a tweet that she was “disappointed” by the SEC’s rejection of VanEck’s spot Bitcoin ETF proposal, and that she hoped the agency would “reconsider its approach.”

Clayton, who is now an advisor for One River Asset Management, a firm that invests in crypto assets, said that he respects the SEC’s current leadership and that he is not trying to influence their decisions. He said that he is simply sharing his personal views based on his experience and knowledge of the market.

“I’m not second-guessing what they’re doing,” Clayton said. “I’m just saying that from my perspective, having lived in this space for quite some time, I think we’re ready for this product.”

Boldd Launches To Power Enterprises with Cutting-edge Financial Tools

By
Ndubuisi Ekekwe
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0

One of Tekedia Capital portfolio startups, 1App, has a new product: Boldd: “We are thrilled to introduce Boldd to the business community…Our platform is a game-changer, providing businesses of all sizes with the tools they need to thrive in today’s competitive landscape. With Boldd, organizations can streamline their processes, gain real-time insights, and unlock their full growth potential,”  said Opeyemi Adekunle, CEO at 1App Technologies.

With close to 150,000 users, 1App serves many happy users. And with Boldd here, many enterprise customers will see happy bank alerts because Boldd is designed to help companies grow. Check it out here useboldd.com  and learn more about Tekedia Capital here.

Be bold on your revenue target with Boldd’s financial tools.

—- Press Release

Introducing Boldd: Revolutionizing Business Management with Cutting-Edge Tools and Integrations

Today marks a significant milestone in the realm of business management as 1app Technologies proudly unveils its latest offering, Boldd. This groundbreaking platform is set to transform the way businesses operate, providing a comprehensive suite of top-notch financial tools and integrations to propel organizations towards unprecedented success.

Designed to cater to the diverse needs of modern enterprises, Boldd revolutionizes the way businesses manage their operations. By seamlessly integrating a wide array of powerful features, this platform empowers entrepreneurs, executives, and managers to expand their businesses, streamline workflows, and achieve unparalleled efficiency.

Boldd boasts an impressive arsenal of cutting-edge financial tools, carefully crafted to address the complex challenges faced by today’s business leaders. From robust payroll management software to sophisticated branch management software and virtual USD cards, this all-encompassing platform ensures that organizations can stay on top of their financial health while making informed, data-driven decisions.

What sets Boldd apart is its seamless integration with other mission-critical business applications. By effortlessly connecting with leading systems, team management tools, and bills payment, businesses can consolidate their operations, eliminating data silos and fostering collaboration across teams. This integration-centric approach enhances productivity, streamlines workflows, and drives efficient cross-functional cooperation.

“We are thrilled to introduce Boldd to the business community,” said Opeyemi Adekunle, CEO at 1app Technologies. “Our platform is a game-changer, providing businesses of all sizes with the tools they need to thrive in today’s competitive landscape. With Boldd, organizations can streamline their processes, gain real-time insights, and unlock their full growth potential.”

To learn more about and its comprehensive suite of financial tools and integrations, visit useboldd.com 

Flutterwave Launches ‘Tuition’, to Help African Students Studying Overseas Pay Their Fees Seamlessly And on Time

By
Ojukwu Emmanuel
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0

Nigerian fintech company Flutterwave has launched a new product called ‘Tuition’, to help African students studying overseas pay their school fees seamlessly and on time using their local currencies.

Flutterwave via a blog post disclosed that the rollout of Tuition is to solve the myriad of challenges that African payments face when trying to pay for school fees to institutions abroad.

The new service will leverage Flutterwave’s world-class payments technology solutions to enable students, parents, guardians, and sponsors to pay school fees to over 40 institutions in the Uk, with plans to add more institutions in more countries in Africa and beyond.

Currently, the feature supports payments from the following African countries; Cameroon, Ghana, Ivory Coast, Kenya, Nigeria, and South Africa. Flutterwave also plans to add more schools in Africa, the UK, the US, Canada, France, and Germany as it grows access to the product.

Speaking on the launch of ‘Tuition, Flutterwave CEO Olugbenga “GB” Agboola said,

“We are excited to launch Tuition to support the dreams of African students across all levels who want to study anywhere without worrying about how to meet the deadline for their school fees payment. With Tuition, we are providing a safer, reliable, and affordable means for African students to pursue their dreams and seamlessly get financial support from parents, guardians, and sponsors”

Also commenting on the launch, product manager at Flutterwave, Stella Elele said,

“We are always looking for new ways to make payment challenges in Africa hassle-free, and we are confident that Tuition will be a game changer for parents who want to support their children’s education. We are excited to offer this solution to parents in Nigeria, with plans to eventually roll out the service to other African countries. We want to provide the best possible service and support for our customers.”

For Nigerian users only, they can make payments using their debit card, credit card, Google Pay, or by bank transfer, which will be delivered within 48 hours. On its FAQ page, Flutterwave disclosed that it will make use of current market rates to determine the payment rate. The startup will charge a flat fee of 20 GBP for every payment made through Tuition.

The launch of this new product ‘Tuition’ by Flutterwave, no doubt offers a huge sigh of relief to African parents or sponsors who have their wards studying in institutions overseas. Sometimes, they are often faced with delays in payments of their children’s tuition in foreign institutions due to challenges to access forex from banks in good time.

Recall that last year, some Nigerian students who had been accepted at universities in the United Kingdom had their enrolments canceled and had to return home because they were unable to pay their tuition fees on time due to a lingering foreign exchange (forex) crisis in the Nigerian banking system.

The affected students had reportedly requested forex from their banks in Nigeria and asked the banks to remit the money to their universities’ accounts, yet the funds were not processed in time.

With Flutterwave rollout of Tuition, such challenges will cease to exist. The payments giant has continued to eliminate pain points for its customers and potential clients, which has also seen it partner with global payments companies to ensure seamless transfer of funds internationally.

Crypto Scam and Identity Theft Spreading on Threads

By
Paul Ugbede Godwin
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0

Crypto scams including fake accounts of crypto projects are spreading rapidly on newly created platform Threads. This is a serious threat to the security and reputation of the platform, as well as the users who may fall victim to these fraudulent schemes.

Threads is a decentralized social network that allows users to create and join communities based on their interests and passions. Threads also enables users to earn tokens by contributing to the network and participating in governance. However, this also attracts scammers who want to exploit the enthusiasm and curiosity of new and existing users.

Crypto scams are attempts to deceive people into sending money or personal information to scammers who pretend to be legitimate crypto projects or influencers. They often use social media platforms like Threads to reach a large audience and create a sense of urgency or FOMO (fear of missing out). Some common types of crypto scams are.

One of the most common types of crypto scams in Threads is impersonating official accounts of crypto projects or influencers. These fake accounts often have similar usernames, profile pictures, and bios as the real ones, but they may have subtle differences such as spelling errors, extra characters, or missing verification badges. They may also follow or be followed by other fake accounts to create a false sense of legitimacy.

These fake accounts usually try to lure users into sending them money or personal information by promising rewards, giveaways, airdrops, or exclusive access to new features or products. They may also try to direct users to phishing websites or malicious apps that can steal their credentials or infect their devices with malware.

To avoid falling victim to these crypto scams, users should always verify the identity and reputation of the accounts they interact with on Threads. They should also never share their private keys, passwords, recovery phrases, or any sensitive information with anyone online. They should also be wary of any offers that sound too good to be true, and always do their own research before investing in any project or service.

Threads is a platform that aims to empower users with freedom, privacy, and sovereignty over their online interactions. However, this also comes with responsibility and vigilance. By being aware of the risks and signs of crypto scams, users can protect themselves and their assets, and help maintain the integrity and trust of the crypto community.

Lesson from the STAGE, Obama’s Most Lethal Political Ad Against Romney, as Bigtech Fires Workers

By
Ndubuisi Ekekwe
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0

It is a huge irony –  big tech is breaking profit records, and yet big tech is laying off workers with reckless abandon: “Tech giant Microsoft has confirmed that another round of layoffs has been made, after laying off 10,000 employees in January this year.”

But it should not surprise us when you remember the Stage which was one of the most politically lethal adverts created by Obama against Mitt Romney. In that ad, men built a stage to host a town hall meeting for a new owner, and Romney walked on that stage to fire them. They never forgot how they prepared, worked hard, to build that stage, only to be fired on that stage!

As we make AI better, AI will create job redundancies in many companies even AI opens new vistas of opportunities.  #Prepare and #relearn.

Microsoft Confirms Another Round of Layoffs, After Laying Off 10,000 Employees Earlier This Year

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