Letter
Crypto lender Genesis has no solution yet for withdrawal halts
Crypto lending platform Genesis has informed its customers that its withdrawal freeze is likely to last “additional weeks” amid efforts to stave off a potential bankruptcy filing. In a Dec. 7 letter to its customers shared by Genesis to Cointelegraph, interim CEO Derar Islim — who took the temporary helm of the company in August — said it will be weeks for them to formulate a recovery plan that could see withdrawals reopened, stating: “At this point, we anticipate that it will take additional weeks rather than days for us to arrive at a path forward.” The letter also stated that Genesis is “working in consultation with highly experienced advisors” and are “evaluating the most effective path to preserve client assets, strengthen our liquidity, and ultimately move our business forward.” “All...
FTX leadership pressed for information by US subcommittee chairman
The former and current CEOs of the bankrupt FTX cryptocurrency exchange have been pressed by the chair of a United States House subcommittee calling for documents relating to the exchange’s finances. “FTX’s customers, former employees, and the public deserve answers,” Raja Krishnamoorthi, Chairman of the Subcommittee on Economic and Consumer Policy wrote in a Nov. 18 letter addressed to both former FTX CEO Sam Bankman-Fried and the exchange’s current CEO John J. Ray III, who took over in the wake of FTX’s bankruptcy filings. Krishnamoorthi added the subcommittee was “seeking detailed information on the significant liquidity issues faced by FTX, the company’s abrupt decision to declare bankruptcy, and the potential impact of these actions on customers who used your exchange.” He...
Gary Lineker urges Three Lions to ‘treasure’ Euro 2020 final
Gary Lineker has urged the England players to “treasure and enjoy” Sunday’s Euro 2020 final against Italy – but believes it is just the beginning and success will soon come even if they are beaten at Wembley. Gareth Southgate’s side are preparing for their first major tournament final in 55 years, something not even Lineker achieved during his time as a Three Lions player. The former Tottenham, Everton and Barcelona forward also praised the players for the showing a “shining social conscience” off the field which represents the “very best” of England. In an open letter to the England team in the Players’ Tribune, Lineker said: “I wish I was playing with you. This is the sort of occasion you dream about as a player. And honestly, it’s much less nerve-racking out on the pitch than in the sta...
Obudu contract debt: Appeal court reserves judgment against Cross River
The Abuja division of the Court of Appeal has reserved judgment in the appeal filed by a private firm, Zedici Capital Ltd, against the Cross River State Government over a N3.8 billion contract debt. The appellant, Zedici Capital Ltd, is the firm that remodelled the Obudu Mountain Resort in Cross River State, now a subject of litigation. The three-member panel of the Court of Appeal, headed by Justice Peter Ige, reserved the date after counsel to the parties had adopted their legal submissions for and against the appeal, that is challenging the judgment of a High Court of the Federal Capital Territory (FCT), which had in 2019, refused to affirm the arbitral award to Zedici Ltd over its investment of N3.8 billion in the resort. Justice Ige announced that a date for the judgment would be comm...
Mass defection: House member asks PDP national chairman to resign
Rep Rimamnde Shawulu (PDP-Taraba), has urged the National Chairman of the Peoples Democratic Party (PDP), Mr Uche Secondus, to resign following mass defection from the party to the All Progressives Congress (APC). Shawulu said this a letter addressed to the chairman and made available to newsmen in Abuja on Wednesday. He decried the rate at which the party was losing members to the ruling APC in recent times. Shawulu also urged members of the National Working Committee (NWC) of the party to resign. “Today, unexpectedly, four members of the House of Representatives from Zamfara defected from the PDP to APC,” he said. He said unlike before, when leaders of the party at the House usually put up a form of protest, not a whisper was heard or a hand raised in protest against the defection. “Dear...
Imo council chairs petition President Buhari over ‘lopsided appointments’ in NDDC
The Oil Producing Local Government Areas (LGAs) in Imo State under the auspices of Urashi Peoples’ Congress (UPC) has called on President Muhammadu Buhari to reverse what it described as persistent lopsided appointment in the management of the Niger Delta Development Commission (NDDC). In an open letter addressed to the president, which was signed by the Coordinator, Mr. Reginald Uwakwe, a copy of which was made available to newsmen yesterday, the group lamented that the appointments into key positions i.e. the managing director of the NDDC, have been allegedly skewed in favour of only four states of Rivers, Akwa-Ibom, Bayelsa and Delta, out of the nine member states that made up the commission. It said between 2001 and 2021, the list of managing directors and their states included Dr. God...
Comrade Oshiomhole welcomes Governor Matawalle to APC
The immediate past National Chairman of the All Progressives Congress (APC), Comrade Adams Oshiomhole, has welcomed the Zamfara State governor, Bello Muhammad Matawalle to the ruling party. In a letter he personally signed and made available to journalists by his media aide, Victor Oshioke, the former Edo State governor said it was with great pleasure, relief and deep sense of personal satisfaction that he welcomes Matawalle to the APC . He said it takes a man of courage, conscience, principles and honour to make the long awaited move, which not mary politicians in our clime would have the audacity to undertake, adding that he has absolute confidence all APC stakeholders in Zamfara State will welcome the governor with open arms and accord him his well earned respect that he richly deserves...
Ogun council poll: Lawyer petitions governor over APC primaries
A lawyer, Fazaz Daud, has written a petition to the governor of Ogun State, Dapo Abiodun, asking for his urgent intervention over the replacement of his client, one Osularu Olabanjo Muyiwa, who was said to have won the All Progressives Congress (APC) councillorship primaries for Ward 5, Iperu-Remo. In the petition dated June 28 and titled ‘Manipulation of Result and Unlawful Replacement of Mr. Osularu Olabanjo Muyiwa, the Winner of APC Councillorship Primaries for Ward 5, Iperu Remo, Ikenne local government with Mr. Efuwape Olaitan Muhammed, Osularu’s name was said to have been replaced with Efuwape Olaitan Muhammed, the incumbent Vice Chairman, Caretaker Committee of Ikenne Local Government. The letter, a copy made available to Daily Sun, on Tuesday, in Abeokuta, was also addressed to the...
Plateau council poll: PDP accuses PLASIEC of plotting to exclude party in election
File Photo The Peoples Democratic Party (PDP), Plateau State, has raised the alarm over plan by Plateau State Independent Electoral Commission (PLASIEC) to exclude the party from the October, 2021 Local Government Election in the state. Secretary, PDP Caretaker Committee, Plateau State, Hon. Patrick Ogbu disclosed this on Friday during a press briefing in Jos and vowed that the party will resist such attempt. He noted that the Caretaker Committee was drafted to the state following a court judgment that ordered fresh State Congress to elect officers of the party and on resumption, the committee invited PLASIEC to participate in their up coming local government party primaries but didn’t show up. “Based on the election guidelines and timetable released by PLASIEC, our great party in line wit...
Senator Ayogu Eze not suspended – APC
The All Progressives Congress (APC) has dismissed the purported suspension of former senator representing Enugu North senatorial district, Senator Ayogu Eze, describing it as a ruse. A former chairman of Ward 7, Mr. Nwokedi Ugwuoke, had circulated information on alleged suspension of Sen. Eze. Reacting to this, APC State Caretaker Chairman, Enugu State, Dr. Ben Nwoye, in a letter to the party’s National Chairman and governor of Yobe State, Buni Mai Mala, said the former chairman of Senator Eze’s Ward 7 had no power to suspend anybody. While asking the APC and the general public to ignore the purported suspension of Eze, he said the APC was investigating Ugwuoke and will soon apply appropriate sanction against him. He said the alleged suspension of the former senator was laughable and of no...
No Uefa hammer for gay supporting German skipper
The German FA has said it will not be punished by UEFA for the rainbow-coloured captain’s armband Germany skipper Manuel Neuer has worn during Euro 2020 in solidarity with gay pride this month. The German Football Association (DFB) said it has received a letter from European football’s governing body stating that a review of the matter has been stopped. “The armband has been assessed as a team symbol for diversity and thus for a ‘good cause’”, the DFB said on Twitter. Normally, the captains of each team at the European Championship are obliged to wear a standard armband issued by UEFA. Former Germany midfielder Thomas Hitzlsperger, who came out as gay after retiring in 2013 and is now head of sport at VfB Stuttgart, was unimpressed that UEFA were even looking into the armband matter. “Come...
UEFA backs down over Manuel Neuer’s rainbow armband
UEFA has dropped its investigation of Manuel Neuer’s rainbow captain’s armband after declaring that the Germany skipper’s decision to wear it is a ‘team symbol of diversity’. Neuer has worn the armband during Germany’s last two Euro 2020 fixtures to show support for the LGBT+ community during Pride Month, but UEFA launched an investigation to determine whether it could be viewed as a political statement. Had UEFA determined that the armband was a political statement, Neuer could have been prohibited from wearing it in future games and the German FA (DFB) could have faced a fine for the goalkeeper’s actions. The DFB announced on Sunday evening that UEFA had dropped its probe and now views the armband as a “good cause”, though European football’s governing body is facing criticism for its de...
