Withdrawal
Sam Bankman-Fried reveals the circumstances behind Bahamian withdrawals
FTX’s former CEO Sam Bankman-Fried has divulged what really went on in the days before it filed for bankruptcy when the exchange selectively reopened withdrawals — only for Bahamian users. In a telephone interview with crypto blogger Tiffany Fong, dated Nov. 16, Bankman-Fried claims to have made the decision to reopen withdrawals to Bahamian citizens as he did not want himself, nor the exchange, to be in a country “with a lot of angry people in it.” “The reason I did it was it was critical to the exchange being able to have a future because that’s where I am right now, and you do not want to be in a country with a lot of angry people in it and you do not want your company to be incorporated in a country with a lot of angry people in it,” he said. Bankman-Fried claims he gave Bahamian...
CoinFlex CEO says withdrawals unlikely to resume on Thursday
Crypto exchange CoinFlex is “unlikely” to resume withdrawals on Thursday, June 30 as it had originally hoped, according to its CEO Mark Lamb, as the company continues to search for buyers of its $47 million bad debt. Speaking to CNBC on Wednesday, Lamb said more time was needed before it could reopen the platform for withdrawals, stating: “We will need more time. And it’s unlikely that withdrawals will be re-enabled tomorrow.” The crypto exchange had been banking on a $47 million token offering launched on Tuesday, June 28 which is known as Recovery Value USD (rvUSD). The token offering was created in an attempt to sell off its bad debt after one of its accounts went into negative equity. In a statement on Tuesday, the company said it hoped withdrawals could restart as previously pla...
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...
Algeria’s FLN remains biggest party after election
Algeria’s FLN, long the country’s biggest political party, won the most seats in Saturday’s parliamentary election, the head of the electoral authority said on Tuesday. Fewer than a third of registered voters took part in the election, which the long dominant establishment had seen as part of its strategy to move beyond two years of mass protests and political turmoil. The protests that erupted in 2019 demanded the ousting of the ruling elite, an end to corruption and the army’s withdrawal from politics. While authorities praised the demonstrations as a moment of national renewal, they also cracked down with arrests. “The dynamic of peaceful change that was launched (with the protests) is being strengthened,” electoral authority head Mohamed Chorfi said, referring to the election. The FLN’...
Liverpool defender Trent Alexander-Arnold ruled out of Euro 2020
Trent Alexander-Arnold has been ruled out of the European Championship after suffering a thigh injury in Wednesday’s friendly win over Austria. The Liverpool defender limped off in the closing stages of the 1-0 victory, with Three Lions boss Gareth Southgate offering a grim prognosis immediately after the game. His fears were realised when scans revealed the extent of Alexander-Arnold’s injury – with the Football Association confirming his withdrawal on Thursday. Trent Alexander-Arnold has been ruled out of UEFA EURO 2020,” a statement said. “The Liverpool player sustained a thigh injury in the closing stages of Wednesday’s 1-0 win against Austria in Middlesbrough. “A scan on Thursday confirmed the 22-year-old will be unable to play in the forthcoming tournament so he has withdrawn from th...
UEFA supremo: Barcelona, Real Madrid & Juventus ‘paralysed themselves’ with ‘strange’ Super League approach
Barcelona, Real Madrid and Juventus have “paralysed themselves” with their “strange” approach to the Super League, according to UEFA president Aleksander Ceferin. A controversial proposal for a new competition to rival the Champions League was met with universal condemnation in April, leading to the withdrawal of nine of the original 12 founding clubs. The Super League plans were subsequently put on hold, but Barca, Real and Juve have vowed to continue pushing for change despite being threatened with serious sanctions by UEFA, who are in the process of investigating their involvement in the breakaway. The three remaining clubs released a statement criticising European football’s main governing body last week, which read: “FC Barcelona, Juventus FC and Real Madrid CF wish to express their a...
PSG president: Super League didn’t have the interests of football at heart
Paris Saint-Germain president Nasser Al-Khelaifi says the Super League project was not in football’s best interests, insisting the Champions League must be protected. PSG were not among the 12 founding members of the competition, which pledged to break away from UEFA and compete with or replace the Champions League. The plan collapsed within days of its announcement, as football’s governing bodies and fan protests convinced nine clubs to pull out and Al-Khelaifi believes football is better off without the controversial idea. “Football has been around for years and years. The Super League did not have at heart to defend the interests of football,” he told AFP. “You can envisage changes but not break the tradition that every club can hope to achieve their dreams. “All teams must have the opp...
House summon AGF over ‘blockage’ of $60 billion repatriation
The House of Representatives has again summoned the Attorney General of the Federation and Minister of Justice, Abubakar Malami (SAN) for allegedly halting the repatriation of $60 billion loot from Texas, United States of America. The Chairman of the Ad hoc Committee on Assessment and Status of All Recovered Loots – Movable and Immovable Assets from 2002 to 2020 by Agencies of the federal government for Effective Efficient Management and Utilisation, Rep. Adejoro Adeogun, summoned Malami on Wednesday in Abuja when a former Special Prosecutor to the Special Presidential Investigation Panel (SPIP), Mr Tosin Ojaomo, appeared before it. He also revealed that before the panel which was headed by Okoi Obono-Obla was disbanded, it investigated the Auditor General of the Federation for the withdra...
Kaduna paralysed as NLC begins warning strike
Activities in Kaduna State have been paralysed as the five-day warning strike directed by the Nigeria Labour Congress (NLC) over irregular sacking of civil servants began on Monday. Checks revealed that schools, banks and other business premises had been closed. The National Union of Banks, Insurance and Finance Institutions Employees had directed its members to withdraw banking and insurance services in Kaduna state from Monday 17. The Zonal State Secretary of the union, Mr Adamu Danladi explained that the directive followed the NLC’s warning strike in response to what he described as Gov. El-Rufai’s “anti-workers policies”. He said that the withdrawal of services would continue until otherwise directed by the congress. Also, while some schools were closed, others were open but only a few...
European Super League shelved as more clubs withdraw
The European Super League collapsed on Wednesday as eight of the 12 founding members from England, Italy and Spain abandoned the breakaway project. The project collapsed after it came under massive pressure from fans, politicians, football officials and even the British royals. Founder and Juventus chairman Andrea Agnelli told Reuters he was reluctantly calling time on the new league. This was after six English clubs withdrew on Tuesday, with Inter Milan and Atletico Madrid following suit and AC Milan indicating they would too. “The voices and the concerns of fans around the world have clearly been expressed about the Super League, and AC Milan must be sensitive to the voice of those who love this wonderful sport,” the Italian club said in a statement. Agnelli said he still believed in the...
Expert: Corporal punishment impedes autistic child’s development
Baerbel Jaja, Head, Government Special School, Lafia, Nasarawa State, says corporal and psychological punishments should not be meted to special needs persons. Jaja told newsmen in Lafia on Friday that corporal and psychological punishments hamper the overall functionality and the development of such persons. She said: “If you flog an autistic child, that’s the end of the development for that child. “You have killed his spirit. “Even for a normal child, if you keep flogging him, you have actually killed the spirit of that child and that will make him not to function well. “If an autistic child does not function the way you want, you have to be patient with him. “You cannot use force on any of this special need kids because it doesn’t work; it will rather close up the little you have achiev...
Court dismisses appeal filed by Imo government on seizure of Senator Okorocha’s properties
Rochas Foundation A three-man panel of the Court of Appeal in Abuja, Wednesday, dismissed the appeal filed by the Attorney General of Imo State and forty others challenging the ruling of an Owerri Federal High Court, which granted Senator Rochas Okorocha the leave to amend processes filed before the Court. Presiding Judge in the Suit with Suit No:CA/ABJ/CV/942/2020, Justice Dattijo Yahaya, dismissed the appeal, following a notice of discontinuance dated and filed on March 16 by the Attorney General of Imo State, Cyprain Akaolisa, on behalf of the appellants. Counsel to Senator Rochas Okorocha, Oba Maduabuchi, opposed the withdrawal of the appeal on the ground that the appellants want to deceive the Court by pretending to discontinue the appeal and go back to Imo State and complete what the...
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