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January Blues? Three Reasons To Smile: Big Eyes Coin, Polygon and Solana: With Big Eyes Coin Raising $16.4 Million In Its Presale

By
TI Partners
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0

With the cryptocurrency market set for a stronger 2023, here are three cryptos to put a smile on your face this year.

Polygon – Prioritising Performance

Polygon (MATIC) has had a promising start to the year, implementing several high-profile initiatives and partnering with major companies like Disney, Reddit and Mastercard. The platform has recently undergone significant development, implementing a hard fork, built to improve performance and predictability.

The platform’s proposed initiatives are set to decrease gas spikes and get rid of chain reorganisation issues. Polygon blockchain is known by developers as being the top dApp building protocol, mostly in the web3 space. Polygon was first launched as a scaling solution for the Ethereum network but developed into a multifunctional protocol used by many. Through connecting Ethereum-compatible blockchains, Polygon enables users to build high-scaling and efficient dApps.

The layer-two blockchain is optimised to be more scalable, cost-effective, satisfactory, and usable for blockchain users. Polygon utilises advanced technology such as Polygon SDK, plasma framework, and proof-of-stake consensus to provide functionality and efficiency. The MATIC token allows holders to gain governance rights and have their own say in decision-making.

Solana – Providing Solutions to Scalability

Solana (SOL) first entered the crypto scene to solve blockchain scalability. Most blockchains were still using an outdated Proof-of-Work (PoW) consensus, the outdated PoW wasted bouts of energy and suffered from slow transactions.

Solana took it upon itself to combine a Proof-of-History (PoH) and Proof-of-Stake (PoS) consensus, meaning the platform was able to achieve 50,000 transactions per second. To solve the energy-wasting issue, Solana decreased the amount of energy used in transactions, thus increasing its sustainability.

Solana’s headway as a sustainable blockchain at a time when an energy crisis is spreading like wildfire could be the reason why it is so popular. As one of crypto’s biggest players, Solana has had a 134% price increase in January so far.

Big Eyes Coin – Breaking Records

Big Eyes Coin (BIG) is a new meme coin already climbing the crypto ranks despite only being in the ninth stage of its presale. Meme coins are online jokes that have been reimagined as various cryptocurrencies, or, in the instance of Big Eyes Coin, a cute cat coin standing out in a sea of dog coins. It has already raised $16.4 million and this is only growing by the minute.

Big Eyes Coin intends to make NFTs in the form of ‘sushi’, its feline mascot’s food of choice. In keeping with the aquatic theme, Big Eyes Coin will hold a charity wallet containing 5% of its tokens, to go towards helping the vital preservation of our world’s oceans.

Big Eyes Coin is predicted to blow up after its launch. Big Eyes Coin is raising money, donating to numerous charities and generally going against the unfair stereotypes surrounding meme coins.

Big Eyes Coin now has a new calculator, allowing users to connect their crypto wallet and view the potential gains of their investment. Meaning if users purchase a certain amount of Big Eyes Coin, they can automatically see what that would be worth if the value increases.

 

To find this calculator and invest in the meme coin, follow these links:

For More On Big Eyes Coin (BIG):

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

Nigerian Scholars Launch Data Book to Promote Digital Public Relations in Africa and the Global South

By
Tiamiyu Ismail
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0

It was a moment of fortuitous erudition and joyous felicitation at the recent launching of the book; ‘’Handbook of Public Relations Case studies’’ authored by Rasheed Adebiyi , Kamoru Salaudeen and Mutiu Lasisi Iyanda all of whom have been described by their friends, mentors and benefactors as refined minds of significant influence in the communication industry.

The book launch which held on Saturday, January 21, 2023 via zoom was attended by scholars and practitioners alike who commended the authors for their collective efforts towards adding to knowledge and raising the bar of public relations practices in Nigeria, in Africa and in the global south at large.

In attendance were Dr. Emannuel Mogaji, Senior Lecturer of Marketing and Advertising Communications, Greenwich University, London; Dr. Bisi Olawuyi, Lecturer at the department of communication and Language Art, University of Ibadan; Dr. Adewale Adeniyi, Vice President, Nigerian Institute of Public Relations; Professor Ayo Ojebode of Applied Communication, Department of communication and Language Art, University of Ibadan; and Mr Rasheed Bolarinwa, Head of Corporate Communications, Polaris Bank among others.

In his opening remarks, Mr Adewale Adeniyi commented on the timely value of the new book considering the increasing demand for data-driven perspectives in the PR profession. He congratulated the authors for adding their perspectives to the study of public relations and hoped that students and scholars will find the book very resourceful and rewarding.

Giving the launching lecture entitled, ‘’The Strategic Place of Digital Platforms and Data in Reinventing PR Practice in Uncertian Times’’ Mr Rasheed Bolarinwa stressed on how the social media has become an integral part of modern PR practices and why mastery of the social media space and the necessary tools to navigate it is the fulcrum of digital PR.

Mr Bolarinwa also made the case for digital PR referencing how the social media has increasingly been used by corporate organisations to break limits in different areas of their enterprises including marketing, brand visibility, communication and promotion, customer relations and community service and community growth.

Digital PR has wide possibilities across its value chains. However, relevant stakeholders need to put up strong collaborative efforts to deal with the existing “dearth of quality contents and content curators” in the social media space moving forward, Mr Bolarinwa noted. He proposed that students of communication have to be given the needed internships to build the required capacity for the next generation PR practices.

The hand book of PR case studies is an intervention to decolonize African literature and contextualize emerging theories and perspectives in PR practices, Dr. Rasheed Adebiyi, one of the authors of the book who is also a communication lecturer at Fountain University, Oshogbo, has said. According to DR Adebiyi, the book is targeted towards achieving some specific objectives which include the following:

  1. To encourage the use case studies method for teaching in the classrooms
  2. To bridge the gap between the industry and the classroom
  3. To provide practical guide and real-life cases to students and practitioners in the industry
  4. To promote data-driven digital public relations

Finally, Dr. Rasheed Adebiyi noted that effort is ongoing to extend hands of fellowship to institutions where Public Relation is taught across the country to further the conversation around digital PR practices.

Data is the oil of Digital Public Relations – An Interview with Dr Adebiyi, University Don

NEXO Cleared of Any Fraudulent Business Practice By United States SEC, NASAA

By
Paul Ugbede Godwin
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0

On January 19th, the US- Security and Exchange Commission ‘SEC’ charged Nexo Protocol with failing to register its retail crypto lending product before offering it to the public, bypassing essential disclosure requirements designed to protect investors, said SEC Chair, Gary Gensler.

Following the developments Nexo was fined by SEC along with other State regulatory agencies and has agreed to Pay $45 Million in Penalties and Cease Unregistered Offering of Crypto Asset Lending Products.

The North American Securities Administrators Association (NASAA) said in its statement that the settlement in principle comes after investigations into Nexo’s alleged offer and sale of securities after the past year of investigations. “During the investigation, it was discovered that EIP investors could passively earn interest on digital assets by loaning those assets to Nexo.”

Nexo maintained total discretion over the revenue-generating activities utilized to earn returns for investors. The company offered and promoted the EIP and other products to investors in the U.S. via its website and social media channels suggesting in some instances that investors could obtain returns as high as 36%,” NASAA stated.

In a January 19 tweet, Nexo had tweeted to its 290k followers that they had reached a final landmark resolution with the SEC and NASAA. The statement further clarified that U.S. federal regulators did not allege that the company had engaged in any fraud or misleading business practices.

The SEC stated that in the settlement negotiations, the commission took into consideration the level of cooperation and the remedial acts promptly undertaken by Nexo in addressing their shortfalls.

SEC Chairman Gary Gensler said:

We charged Nexo with failing to register its retail crypto lending product before offering it to the public, bypassing essential disclosure requirements designed to protect investors.

Gensler, went on to say “Compliance with our time-tested public policies isn’t a choice. Where crypto companies do not comply, we will continue to follow the facts and the law to hold them accountable. In this case, among other actions, Nexo is ceasing its unregistered lending product as to all U.S. investors,”

While the firm didn’t admit or deny the findings from the SEC’s investigation, the Nexo settlement came on the back of a cease-and-desist order prohibiting the firm from violating any provisions of the Securities Act of 1933.

NASAA explained that the investigation was conducted by at least 17 separate state securities regulators, who agreed to the terms set out in the settlement.

Jeremy Hogan Partner at Hogan & Hogan said; The SEC charged NEXO for its “lending product,” and settles with them the same day. A $45 million collection. But isn’t NEXO an exchange? What about the numerous “securities” that NEXO is unlawfully selling to U.S. citizens? That’s okay now??

Federal Prosecutors Confiscate About $700 Million Assets From Former FTX’s Sam Bankman-Fried

By
Ojukwu Emmanuel
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0
Sam Bankman-Fried

Federal prosecutors have confiscated nearly $700 million in cash and assets linked to EX FTX CEO Sam Bankman-Fried.

A recent court filing revealed that the federal authorities confiscated more than 55 million shares of Robinhood stock along with millions of dollars from free accounts at Silvergate bank.

The crypto billionaire who was arrested in the Bahamas and extradited to the U.S. is currently facing fraud charges. He has been accused of stealing billions of Dollars from FTX customers to fund his crypto-focused hedge, Alameda research.

Wall Street Journal reported that Bankman-Fried may have illegally taken about $10 billion in FTX customers’ funds for his trading firm. He is also accused of using investors’ funds to buy real estate as well as making several donations.

Federal prosecutors revealed that he made corporate contributions to candidates and political action committees in New York that were reported in the name of another person.

He was reported to have contributed more than $70 million to election campaigns in less than 18 months, placing him among the nation’s top political donors.

On November 10, Bankman-Fried publicly apologized on Twitter. He wrote, “I fucked up, and should have done better. I also should have been communicating more very recently.” He later pointed to a poor internal labeling of bank-related accounts as one reason why FTX didn’t have the liquidity to return money to clients.

Meanwhile, in a recent court hearing,  Bankman-Fried has pleaded not guilty to fraud charges, declaring that he didn’t steal customers’ funds, neither did he stash billions away. He revealed that nearly all his assets are utilizable to backstop FTX customers.

During an interview with Bloomberg last year, he claimed to have misaccounted for $8 billion in FTX funds, which he pulled out a spreadsheet, detailing the bad math he used while approaching investors for a potential last-second bailout of FTX and its sister trading firm Alameda research.

Meanwhile, Coinbase CEO Brian Armstrong rejected SBF’s ‘Accounting Error,’ in which he stated that customers’ funds were obviously stolen. He further stated that only the “most gullible person” would believe an $8 billion hole was due to lackluster accounting.

He wrote on Twitter,

“I don’t care how messy your accounting is … you’re definitely going to notice if you find an extra $8B to spend. Even the most gullible person should not believe Sam’s claim that this was an accounting error.”

Meanwhile, the new FTX CEO John Ray, who replaced Bankman-Fried to guide FTX’s restructuring, is trying to rescue funds that were lost by the crypto company’s depositors when the firm spiraled into bankruptcy in November last year.

He further provided some additional details about the FTX’s recovery effort by disclosing that the firm has recovered $1.7 billion in cash, $3.5 billion in liquid cryptocurrency, and $300 million in liquid securities.

John Ray III, while testifying to the U.S house committee, disclosed that U.S. customers are more likely than  other customers to get their money back.

Bank ATMs Still Dispensing Old Naira Notes As CBN Jan 31 Deadline Draws Near

By
Samuel Nwite
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0

Nigerian banks are lamenting about insufficient new naira notes, amid threat by the Central Bank of Nigeria (CBN) to sanction banks still issuing the old notes.

The Nigerian public has been complaining that ATMs are still dispensing the old naira notes even as the January 31 deadline, given by the CBN for the old notes to be returned to the banks, draws near.

The contradicting reality has made the circulation of the newly redesigned naira notes challenging.

The CBN has repeatedly warned that it will sanction banks caught issuing the old naira notes, while the banks said they don’t have enough to satisfy the current demand.

A banker who spoke on anonymity to Tekedia, said they were only given N4 million of the new notes by the CBN.

“I think the deadline is going to be extended, because right now, banks don’t have enough of the new naira notes to meet the circulation need,” she said.

Meanwhile, the central bank has continued its sensitization workshop across the country to help traders and members of the public to embrace the new naira notes and return the old ones to the banks.

The Branch Controller, Central Bank of Nigeria, Abakaliki Branch, Daniel Amaechi Ogbogu reiterated in Afikpo, Ebonyi State, during the workshop on Friday, that the central bank is not going back on the deadline.

He said the CBN had commenced monitoring banks to ensure they are dispensing the new naira notes in their ATMs, adding that every bank has been given the mandate to circulate the new notes.

“We have asked the banks to ensure that all their ATMs are dispensing new notes and any bank that gives out old naira will be penalized to ensure that no old notes are being dispensed from any ATM point.

“We have called the attention of the banks and we have given them mandate to ensure that we don’t want to come back and see that the ATMs are not dispensing the new naira notes,” he said.

Ogbogu added that the CBN has asked banks to come and pick up the new naira notes, urging the public to report any ATM that is still dispensing the old notes.

However, despite the assurances, feedback from several quarters of the country indicates that the circulation of the new naira notes has been far from sufficient.

“For me the time giving as the last date is short because up till now, the banks are not dispensing the new naira note as far as here is concerned both in the ATM,” the Chairman, Afikpo Market Amalgamated Association, Comrade Johnson Inya-Oka said, calling for the extension of the deadline.

He said that the two banks in Afikpo Local Government Area are yet to start dispensing the new notes.

“If you go to the ATMs here in Afikpo, you can’t get the new naira notes as we speak and that is the challenge we are having. We won’t have much challenge should the CBN be fast in changing the old money.

“Our worry is that the two banks in our area are still giving us old naira notes both at the ATM and counter. But for me I will advise that they extend the dates because the banks in Afikpo are not dispensing the new naira notes and even some aged people in the market here have not seen the new naira note for the first time,” he said.

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