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Senator Bulkachuwa is Nigeria’s whistleblower of the month

By
Ndubuisi Ekekwe
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0

Unbelievable that a Senator whose wife was the president of the court of appeal could brag how he influenced her decisions. He embarrassed the senate president by revealing the open truth about Nigeria’s judiciary.  We must give Senator Bulkachuwa a national award as a whistleblower of the month. Hope retired Justice Zainab Bulkachuwa will give a press release on how she was influenced! What a nation.

 

Solana is not a Security Asset – Solana Foundation

By
Paul Ugbede Godwin
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0

The Solana Foundation is a non-profit organization that supports the development and adoption of the Solana blockchain network. The foundation claims that its native token, SOL, is not a security, but a utility token that enables users to participate in the network’s consensus mechanism, pay transaction fees, and access decentralized applications. However, the U.S. Securities and Exchange Commission (SEC) has recently classified SOL as an unregistered security in its lawsuits against two major crypto exchanges, Binance and Coinbase.

The SEC argues that SOL meets the criteria of an investment contract, which is a type of security that involves an expectation of profits derived from the efforts of others. The foundation disagrees with this characterization and says it welcomes the engagement of policymakers to achieve legal clarity on these issues. The foundation also says it is in communication with the SEC and legal experts to address their concerns.

The classification of SOL as a security has significant implications for the token’s regulation and compliance requirements, as well as its availability and liquidity on various platforms. The foundation’s native token, SOL, is not a security asset, but a utility token that serves various functions within the network. SOL holders can use the token to pay for transaction fees, participate in network governance, and stake their tokens to help secure the network and earn rewards.

SOL is not an investment contract that promises profits from the efforts of others, but a means of accessing and contributing to the Solana ecosystem. The foundation disagrees with the U.S. Securities and Exchange Commission’s (SEC) characterization of SOL as a security in its recent lawsuits against crypto exchanges Binance and Coinbase. The foundation believes that SOL meets the criteria of a utility token under the federal securities laws and welcomes the engagement of policymakers to achieve legal clarity on these issues.

Solana is an open-source, decentralized software project that relies on community-based user and developer engagement to enhance and evolve the platform. SOL is the native token of the Solana blockchain, and it has several functions that make it essential for the network’s operation and security.

First, SOL is used to stake on the network, which means that users can lock up their tokens in order to validate transactions and earn rewards. Staking is a crucial mechanism for achieving consensus on the Solana blockchain, which uses a novel protocol called Proof of History (PoH). PoH allows the network to process thousands of transactions per second with low latency and high security. By staking SOL, users contribute to the network’s performance and security, and they also have a say in its governance.

Second, SOL is used to pay transaction fees on the network, which are very low compared to other blockchains. Transaction fees are necessary to prevent spam and malicious attacks on the network, and they also incentivize validators to process transactions efficiently. By paying transaction fees in SOL, users support the network’s sustainability and scalability.

Third, SOL is used to participate in governance of the network, which means that users can vote on proposals that affect the development and direction of the platform. Governance is a key feature of decentralized systems, as it allows users to have a voice and a stake in the future of the project. By participating in governance with SOL, users exercise their rights and responsibilities as members of the Solana community. As you can see, SOL is not a security asset, but rather a utility token that has multiple functions and benefits for the Solana network and its users.

Nasdaq Splashes $10.5 Billion to Acquire Software Firm Adenza

By
Ojukwu Emmanuel
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0
NASDAQ

Financial services corporation Nasdaq has splashed the whopping sum of $10.5 billion to acquire software firm Adenza, to deepen its push to become a more focused tech company.

The report reveals that the purchase consists of $5.75 billion in cash and 85.6 million shares of Nasdaq common stock, which is expected to aid the growth of the stock exchange company, as it diversifies its portfolio.

Speaking on the acquisition of Adenza, Nasdaq CEO Adena Friedman said,

“This is an exceptional opportunity to acquire a leading software company that enhances Nasdaq’s position at the heart of the global financial system. The acquisition of Adenza brings together two world-class franchises steeped in market infrastructure, regulatory, and risk management expertise at a time when financial institutions are navigating some of the most complex market dynamics in history.

“From fast-evolving global regulations to rapidly increasing pressures to modernize infrastructure, our clients are seeking trusted partners equipped to support them in this challenging environment.”

Adenza Group, Inc., formerly known as Calypso Technology, is a software application provider that specializes in Capital Markets, Investment Management, Central Banking, Risk Management, Clearing, Collateral, and Treasury & Liquidity. Their integrated suite of trading and risk applications is used by banks and other financial companies.

With its headquarters in London and New York, Adenza has more than 60,000 users across the world’s largest financial institutions spanning global and regional banks, broker-dealers, insurers, asset managers, pension funds, hedge funds, central banks, stock exchanges and clearing houses, securities services providers and corporates. It has a strong client base, with 98% gross retention, 115% net retention, and a mix of approximately 80% recurring revenue.

Nasdaq stated that the acquisition of Adenza complements its marketplace technology and anti-financial crime solutions, and enhances its offerings across a broader spectrum of regulatory technology, compliance, and risk management solutions.

Reports disclose that Nasdaq CEO Friedman has been pushing the company into the tech space for some time now, expanding its role as a marketplace for trading that is reliant largely on trading volumes to thrive. The company has increasingly looked to move its business away from market-sensitive exchange operations and has chosen to lean into the financial software offerings for institutional investors.

With Adenza under its wing, Nasdaq, which operates three stock exchanges in the U.S. and seven in Europe, said it will be better positioned to provide comprehensive support to financial institutions across regulatory technology, compliance, and risk management. Nasdaq further revealed that it expects to close the deal within the next nine months.

Analysts Hype Sparklo (SPRK) As Binance (BNB) And Pepe (PEPE) Coin Price Collapse

By
TI Partners
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0

The cryptocurrency and blockchain industries have undergone a tremendous transformation in recent months, especially with new projects and coins constantly competing for investors and visibility.

Sparklo has established itself as a strong competitor despite the competition, attracting much interest and support at its ongoing token presale. Top crypto analysts are optimistic that Sparklo will surpass Binance (BNB) and Pepe (PEPE) Coin after its launch. Let’s look at Sparklo and see why it is the top choice of investors in the crypto market presently.

The crypto market will see more precious metal investments with Sparklo (SPRK) 

With the help of the Ethereum-based investment platform, Sparklo offers customers the chance to invest in precious metals. Investors have the option of buying the entire NFT or just a piece of it. These NFTs have been minted into Gold, Silver and Platinum. When an investor buys full NFT, there is an added incentive of having the minted NFTs delivered to the investor’s desired location.

Sparklo has completed the first round of the token presale and is currently in the second stage of the presale, with the token currently selling for $0.036 per SPRK token. Investors are already buying  Sparklo tokens as crypto analysts believe that its price will likely witness a massive 1,500% increase before the year ends.

Sparklo will lock its liquidity for 100 years and the team token for 1000 days. The KYC verification has been completed and the Sparklo project has also been audited by Interfil Network, adding further stability to the project. Now is the perfect time to invest in Sparklo token as it has the potential to become a blue-chip cryptocurrency soon. Click the link below to invest.

>>>> BUY SPARKLO TOKENS <<<

Pepe (PEPE) coin’s price drops amid crypto market volatility

Pepe (PEPE)  coin, launched in the Ethereum network is a deflationary memecoin created as a tribute to the Pepe the Frog internet meme.  Pepe (PEPE)  is currently in the bear market as investors count their losses. Pepe (PEPE) coin has lost 18% of its value in the last few hours with the coin trading at $0.0000010 currently. However, Pepe (PEPE) coin’s 24-hour trading volume has increased by 43% to $176.69 million currently.

Pepe (PEPE) coin which is ranked #88 in the crypto market, has seen its value plummet in the last few days. Pepe (PEPE)  has lost over 25% of its value in the last few days as Pepe (PEPE)  coin slides deeper into the bear market. The Pepe (PEPE)  technical analysis shows that the coin could further lose its value. Pepe (PEPE)  coin holders are already moving over to the Sparlo ongoing presale in a bid to recover from their losses. Sparklo is a project that guarantees significant gains. Crypto experts have already projected that the SPRK token’s value will rise exponentially in the year.

CEO says Binance (BNB) has no plans to enter Bitcoin (BTC) mining

Changpeng “CZ” Zhao, in a recent interview, announced that Binance (BNB) has no intention to enter Bitcoin (BTC) mining. Changpeng, who is Binance (BNB) CEO, said this while talking about the company’s web3 prospects in Dubai. The CEO of Binance (BNB) said that the token wouldn’t be BTC mining because of the nature of the mining business. According to Changpeng, the resources needed were too much.

Also, in the interview, CZ mentioned that there are already many competitors that have a better advantage than Binance (BNB) in the mining business. Instead, it is a welcome development that other miners use Binance (BNB) pool and also have the Binance (BNB) liquidity to cover their costs. Today, Binance (BNB) is rated as the fifth-largest pool in BTC. Binance (BNB) has lost 9% of its value in the last few hours and currently trading at $276.68. The Binance (BNB) is showing signs of a bear market coming. Although Binance (BNB) coin’s 24-hour trading volume increased slightly to $852 million, its coin holders have joined the Sparklo presale to make profits. Sparklo is a project that guarantees a high return on investment with numerous benefits.

 

Find out more about the presale with the links below;

 Click here to buy presale

 Check out the website

Check out the telegram channel

Gary Gensler faces Market Manipulation Charges

By
Paul Ugbede Godwin
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1
WASHINGTON, DC - OCTOBER 03: Securities and Exchange Commission (SEC) Chair Gary Gensler listens during a meeting with the Treasury Department's Financial Stability Oversight Council at the U.S. Treasury Department on October 03, 2022 in Washington, DC. The council held the meeting to discuss a range of topics including climate-related financial risk and the recent Treasury report on the adoption of cloud services in the financial sector. (Photo by Anna Moneymaker/Getty Images)

Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), is facing market manipulation charges from a group of cryptocurrency investors, Citadel Securities and Citadel Market Maker, two prominent financial firms. The charges allege that Gensler has engaged in short-selling activities in stocks related to cryptocurrencies.

The group claims that Gensler has been using his position and influence to spread false and misleading information about digital assets, such as Bitcoin and Ethereum, in order to drive down their prices and benefit his own interests. The group alleges that Gensler has a conflict of interest, as he is a former partner of Goldman Sachs, a major player in the traditional financial system that competes with cryptocurrencies.

The group also accuses Gensler of abusing his regulatory power by imposing excessive and arbitrary rules on crypto-related businesses and activities, stifling innovation and growth in the sector. The group has filed a lawsuit against Gensler in a federal court, seeking damages and an injunction to stop him from further interfering with the crypto market.

The charges allege that Gensler has engaged in short-selling activities in stocks related to cryptocurrencies, such as AMC Theatres and GameStop, through two large investment companies: Vanguard Group and BlackRock. The short-selling activities are said to have caused significant losses for retail investors who were betting on the rise of these stocks.

The charges have sparked a public outcry, with a petition on Change.org demanding Gensler’s resignation from his post at the SEC. The petition claims that Gensler has failed to protect retail investors from fraud and manipulation by Citadel Securities and Citadel Market Maker, who are accused of using illegal tactics such as naked short selling and dark pool abuse. The petition also criticizes Gensler’s recent stance on digital asset exchanges, which he has urged to comply with the same regulations as securities exchanges.

Gensler has defended his actions, saying that he has followed the rules of the capital markets and that he aims to safeguard market integrity and prevent fraud and manipulation. He has also stated that he supports the development of a crypto market that protects investors and meets the standards of the market regulations. Gensler’s supporters argue that he is a visionary leader who is trying to bring more transparency and accountability to the crypto industry.

The charges against Gensler are still under investigation, and it is unclear what the outcome will be. However, the controversy has put Gensler and the SEC under intense scrutiny, highlighting the challenges and opportunities of regulating the emerging and volatile crypto market.

Meanwhile, Venture capital firm Andreessen Horowitz will open its first international office in London later this year, citing the country’s greater “political will” towards supporting cryptocurrencies. The U.K. said last year that it would introduce new regulations for digital assets. Crypto firms are considering moving operations outside the U.S. following a Securities and Exchange Commission crackdown on companies like Binance and Coinbase.

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