The attempts of mainstream media to water down the frauds committed by FTX CEO Sam Bankman-Fried (SBF) did not fare well in convincing the crypto community and entrepreneurs. Instead, the misinformation campaign collided with Tesla CEO Elon Musk’s drive to position Twitter as “the most accurate source of information.” The world is yet to overcome the shock after witnessing the legal leniency awarded to SBF for misappropriating users’ funds and shady investment practices via trading firms Alameda Research and FTX. Will Manidis, the CEO of ScienceIO, a healthcare data platform, pointed out that SBF made the “highest ROI trade of all time” by donating $40 million to the right people for getting away with stealing over $10 billion. That’s just the publicly disclosed number. His act...
The co-founder of Ethereum (ETH), Vitalik Buterin, believes that the crypto ecosystem needs to mature and be in tune with the regulatory policies that allow crypto projects to operate internally freely. Sharing his opinion around crypto regulations, Buterin spoke against the regulations that have an impact on the inner workings of a crypto ecosystem. Considering the current circumstances, he believed it was better to have regulations that allow inner independence to crypto projects, even if it hampers mainstream adoption. Buterin opined: “I’m actually kinda happy a lot of the exchange-traded funds (ETFs) are getting delayed. The ecosystem needs time to mature before we get even more attention.” The use of know-your-customer (KYC) on decentralized finance (DeFi) frontends was another ...
The United Nations Children’s Fund has called for incorporating child safeguards into online child protection initiatives, citing financial and exploitative threats posed by unregulated crypto markets. UNICEF’s “Prospects for children in 2022” report, which examines the impact of global trends on children, anticipates further mainstream adoption of cryptocurrencies — “demonstrating both the promise of greater financial inclusion and the need for new child safeguards.” Source: UNICEF The report shows that digital currencies have gained widespread interest in 87 countries by the end of 2021, with the majority of jurisdictions experimenting on their own versions of a central bank digital currency. UNICEF expects a similar growth trajectory in 2022, as the report states: “A potentia...
Governor Abdullahi Ganduje of Kano says he has compensated APC women by giving them more political opportunities in the state than they aspired. The governor also pledged to support more women aspiring for political offices in 2023, saying that more women are needed in the mainstream political sphere. Mr Ganduje made the pledge on Monday evening at an interactive session with journalists as part of activities to mark the Nation’s Democracy Day. He noted that the ruling party in the state, APC, had previously supported women with political ambition. He said, ”Although the party made it open and free for female contestants to obtain registration forms for various positions, they had ceased (sic) the opportunity.” ”But despite their failure to make it to their aspired positions, the administr...
Jihadists have killed 35 people, including five troops and 15 militiamen, in two attacks in Nigeria’s troubled northern Borno state, sources told AFP Tuesday. Islamic State-aligned militants have intensified attacks on army camps in recent weeks as part of a decade-long insurgency that has killed 36 000 people and forced more than two million to flee their homes. Fighters from Islamic State West Africa Province (ISWAP) came in several trucks fitted with machine guns and stormed Ajiri town late on Monday. They attacked a military base, leading to intense fighting in which five soldiers and 15 anti-jihadist militia were killed, two military sources said. ISWAP had raided the same base on Sunday, killing the base commander along with six civilians and carting away weapons, military sources sa...