Purpose
Grayscale BTC Trust trades at a record 36.7% discount, but is it justified?
U.S. investors have been waiting for a Bitcoin exchange-traded fund (ETF) approval since May 2014 when the Winklevoss Bitcoin Trust filed an amendment request at the Securities and Exchange (SEC). Over the years, the SEC has rejected every applicant and the latest denial was issued to WisdomTree’s application for a spot Bitcoin ETF on Oct. 11. The SEC concluded that the offer did not have the ability “to obtain information necessary to detect, investigate, and deter fraud and market manipulation, as well as violations of exchange rules and applicable federal securities laws and rules.” Bitcoin investment trust vehicles have existed since 2013, but they have been restricted to accredited investors. Launching a spot-based BTC ETF would open the market to retail investors and a broader ...
Canadian Bitcoin ETF adds 6.9K BTC in one day as GBTC discount hits record low
Bitcoin (BTC) descending to $24,000 has cost its largest institutional investment vehicle more than the average hodler. According to data from on-chain monitoring resource Coinglass on May 13, the Grayscale Bitcoin Trust (GBTC) is now trading at a nearly 31% discount. Grayscale CEO: Investors are “waiting for things to settle down” Amid ongoing market volatility this week, GBTC has seen its fledgling recovery fall flat on its face — for the time being. The so-called GBTC premium, long in negative territory and thus a discount in practice, has now reached its lowest ever. As of May 13, the discount was 30.6%, meaning that shares in GBTC traded at almost one third below the Bitcoin spot price (referred to as net asset value, or NAV). The figures mark a distinct turnaround for the...
Purpose Bitcoin ETF adds 1.1K BTC as data hints investors want to ‘buy the dip’
The world’s first Bitcoin (BTC) spot price exchange-traded fund (ETF) is buying BTC again after a month of selling. Data from on-chain monitoring resource Coinglass confirms that on April 27, Canada’s Purpose Bitcoin ETF added 1,132 BTC to its holdings. Data: Buy the dip interest “skyrocketing” Despite fears that Bitcoin is not yet done with its sell-off, an about turn at Purpose hints at increasing institutional demand. Beginning March 28, when BTC/USD traded above $48,000, Purpose began reducing its exposure, which at the time totaled 36,321 BTC. Wednesday’s increase is thus the first since March 25. At the time of writing, Purpose held 31,162.7 BTC, while BTC/USD traded at $39,000. Purpose Bitcoin ETF BTC holdings chart. Source: Coinglass The move coincides with figures from...
President Buhari: Nigerian government to implement policies that will tackle Niger Delta challenges
President Muhammadu Buhari has expressed his administration’s desire to implement genuine policies that would help in tackling problems affecting the Niger Delta region to make life more meaningful to the people. Buhari gave the assurance during the commissioning and handing over of the erosion control and road improvement works in Owo Local Government to the Ondo State Government. The president, who was represented by the Minister of State, Ministry of Niger Delta Affairs, Sen. Omotayo Alasoadura, noted that the erosion control of flooded area/road project was one of the ecological intervention projects approved and executed by the federal government through the Ecological Fund Office, in the Office of the Secretary to the Government of the Federation (OSGF), for the good people of Owo an...
Head of Service warns of fake Facebook, LinkedIn accounts
The Head of Service of the Federation, Dr Folasade Yemi-Esan, has warned the general public to be aware of Fake Facebook and LinkedIn Accounts opened in her name by fraudsters. The statement released by the media office titled “Fake Facebook and LinkedIn Accounts”, read thus: “The Office of the Head of the Civil Service of the Federation wishes to draw the attention of the public to fake Facebook and LinkedIn accounts setup using names similar to those of the Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan, alongside her photographs, and which are being promoted with the purpose of deceiving and defrauding unsuspecting individuals. “Unfortunately, despite frequent warnings and disclaimers and in some cases, the apprehending and parading of some of these devious elements...
Senator Lawan: Senate to pass electoral act amendment bill in two weeks
President of the Senate, Ahmad Lawan, says the National Assembly is working towards passing the Electoral Act Amendment Bill in the next two weeks. Lawan said this at the inauguration of Mr Abimbola Yusuf, as Chief Commissioner of the Public Complaints Commission (PCC) and 37 other Commissioners from the 36 states and the Federal Capital Territory (FCT) on Monday in Abuja. He has urged Nigerians who were not comfortable with certain clauses in the ongoing amendment, to take their complaints to their representatives, for consideration before the passage of bill. “The national assembly is embarking on the amendment of the Electoral Act probably by next week or within the next two weeks. “It is very important that those who feel very strongly about any amendment that they think should be effe...
IMN: Sheikh El-Zakzaky is not an enemy of Nigeria
The Islamic Movement in Nigeria (IMN) says that its leader, Sheik Ibraheem El-Zakzaky, is not an enemy of Nigeria. The Islamic group also says that the message of El-Zakzaky differs from the struggle by leader, Indigenous People of Biafra (IPOB), Nnamdi Kanu, and the secessionist, Sunday Igboho. The Coordinator, Resource Forum of IMN, Prof. Abdullahi Danladi, gave the clarification on Saturday, following the recent social media pictures of El-Zakzaky, Kanu and Igboho displayed side-by-side. “Recently, the social media went awash with the pictures of Sheikh Ibraheem Zakzaky framed on both sides with the pictures of Nnamdi Kanu and Sunday Igboho. “Beneath the pictures is the caption: ‘Buhari is respecting Federal Character in the fight against the enemies of Nigeria’ was posted. “First, Shei...
Femi Fani-Kayode asks President Buhari to leave Sunday Igboho alone to avoid civil war
Former Aviation Minister Femi Fani-Kayode has advised President Muhammadu Buhari to leave self-acclaimed Yoruba activist, Sunday Igboho, alone in order to avoid a civil war. Fani-Kayode was reacting to attack on Igboho‘s house in Ibadan by the Department of State Services, DSS, on Thursday. He Igboho is the living manifestation of Oduduwa himself and that he speaks the mind of over 70 million Yoruba people throughout the world. According to him, whoever is trying to kill him is making a big mistake and is pulling the tail of a wild lion and poking the eye of a sleeping giant. “For the sake of Nigerian peace and unity and in the name of God, I call on the Federal Government and President Muhammadu Buhari himself to leave Sunday and his group alone and to tread the path of peaceful coexisten...
Nasarawa governor frees 36 prison inmates, donates N250,000 transport fare
The Nasarawa State Government has released 36 inmates in the state’s correctional centre to reduce overcrowding. The inmates, who are prisoners mostly awaiting trials and convicts, were released by State Governor Abdullahi Sule who visited the correctional facility in Lafia on Wednesday. The Lafia Correctional Centre is one of the six prisons in the state, located along Doma Road, Lafia City and is known to be overstretched presently with mostly awaiting trials inmates. Speaking while presiding over the release of the prisoners, Governor Sule said the move was to mark the June 12 Democracy Day. ‘I am glad to be here. By law, it is the responsibility on the part of leaders to forgive when it is time to forgive because God forgives us. When I looked at the faces of these inmates, I discovere...
Lagos assembly warns local councils against extorting courier, logistics operators
Pool Photo The Lagos House of Assembly on Monday ordered local government councils and local council development areas (LCDAs) in the state to desist from extorting and harrassing operators of courier and logistics services in the state. Mudashiru Obasa, the House speaker, said the local councils do not have the power to tax logistics and courier services. He said the power of the councils was limited to the registration of bicycles as dictated by the Constitution. Mr Obasa said it was important to act against the action of the councils because it affects the ease of doing business in the state. “We have to make them understand that going out to disturb well-planned and organised businesses that stand to create employment for our youth especially with the rate at which students graduate wi...
Rivers governor calls for workable life insurance scheme for police
Concerned about the recent spate of dastardly attacks on police officers, the Governor of Rivers State, Nyeson Ezenwo Wike, has urged the Federal government to put in place a workable life insurance scheme for all police personnel. The governor said the life insurance scheme should be considered a necessity so that when a police officer dies on duty protecting the public, his loved ones will not be financially divested afterwards. He made the suggestion when the President, Police Officers Wives Association (POWA), Hajia Hajara Alkali Baba, paid him a courtesy call at the Government House, Port Harcourt on Friday. Governor Wike observed that policing has become a risky occupation, and concerted effort must be made by the Federal government to ensure those police officers who risk their live...
NAFDAC tasks stakeholders on drug abuse eradication
The National Agency for Food and Drug Administration and Control (NAFDAC) has stressed the need for all stakeholders to work together towards eradicating the menace of drug abuse in the country. Prof. Moji Adeyeye, NAFDAC Director General, made the call on Tuesday in Abuja, at the 3rd National Youth conference on drug abuse, organised by Centre for Ethical Rebirth among Nigerian Youth (CERANY), an . Represented by the agency’s Director, Narcotics and Controlled Substances, Mr Musa Umar, she said all hands must be on deck to find solutions to the problem of drug abuse, adding that all should be determined to eradicate the scourge. According to her, the problem of drug abuse concerns everybody, saying cooperations must be strengthened to decisively deal with the problem. “Of all the crises f...
