US stocks end lower, adding to week’s losses

NEW YORK (AFP) – Wall Street stocks ended decisively lower on Friday to conclude another difficult week defined by worries over inflation and the worsening Russia-Ukraine conflict.

A closely-watched measure of US inflation released on Friday showed the annual pace of price increases slowed slightly in August compared with the prior month.

However, the inflation rate still exceeded analyst expectations, a dynamic that will likely keep the Federal Reserve on its current path to hike interest rates aggressively.

The yield on the 10-year US Treasury note, a proxy for interest rates, rose closer to 4 per cent.

Meanwhile, Russian President Vladimir Putin on Friday annexed four parts of Ukraine, staging a grand ceremony in Moscow hours after shelling killed 30 people in Ukraine’s southern region of Zaporizhzhia in one of the worst attacks against civilians in months.

On Wall Street, the broad-based S&P 500 finished at 3,585.62, down 1.5 per cent for the day and almost three percent for the week.

The Dow Jones Industrial Average shed 1.7 per cent to close at 28,75.51, while the tech0rich Nasdaq Composite Index dropped 1.5 per cent to 10,575.61.

Among individual companies, Nike plummeted 12.8 per cent after reporting lower profits on Thursday as the company marks down less-desired merchandise in North America amid an inventory glut and shifting consumer market challenged by inflation.

Carnival dove 23.3 per cent as the cruise company reported a quarterly loss of US$770 million (S$1.1 billion) due to higher operating costs and expenses. Rival companies Norwegian and Royal Caribbean also fell sharply.

source https://netdace.com/latest-news/us-stocks-end-lower-adding-to-weeks-losses/

HG Semiconductor and GCL Technology Founder Mr Zhu Gongshan Officially Enters Shares Subscription and Warrants Subscription Agreements

HONG KONG, Sep 30, 2022 – (ACN Newswire via SEAPRWire.com) – HG Semiconductor Ltd (6908.HK) is pleased to announce that it has officially entered into a subscription agreement with Mr. Zhu Gongshan, the Founder, Chairman and Executive Director of GCL Technology Holdings Ltd (GCL; 3800.HK) regarding the Investment Agreement on 4 August 2022.

Pursuant to the Investment Agreement, the Group has agreed to issue, and Mr. Zhu has agreed to 60 million Shares Subscription and 60 million Warrants Subscription. In view that the due diligence examinations have been completed, and that Mr. Zhu is reasonably satisfied with the results of the examinations, he will participate in the Shares Subscription and Warrants Subscription through his designated beneficially owned entity Profit Act Limited. Upon completion of the Shares and Warrants Subscription, Mr. Zhu will become the major strategic shareholder of the Group.

As at 30 September 2022, the Group has 573,019,000 shares in issue. Pursuant to the Share Subscription Agreement, the 60 million subscription shares represent approximately 10.47% of the existing issued share capital of the Group. After the deduction of relevant costs and expenses, the net proceeds from the Shares Subscription are estimated to be approximately HK$180 million. The net price per subscription share upon the completion of the Shares Subscription is estimated to be approximately HK$3.00 per subscription share. In addition, assuming full exercise of the subscription rights attached to the warrants, the 60 million warrant shares represent approximately 10.47% of the existing issued share capital of the Group, while the gross and net proceeds from the Warrants Subscription are estimated to be approximately HK$220.8 million. The maximum net price per warrant share upon full exercise of the subscription rights attached to the warrants is estimated to be approximately HK$3.68 per warrant share.

The Group intends to use the maximum proceeds from the Shares Subscription and the Warrants Subscription of approximately HK$400.8 million for the development of its gallium nitride (GaN) business. The completion of the Shares Subscription and Warrants Subscription are subject to the satisfaction and/ or fulfilment of certain conditions precedent, and the Group will convene an extraordinary general meeting (EGM) to seek a specific mandate from shareholders for the allotment and issue of the Shares.

Mr. Zhu is the Founder and Executive Director of GCL Technology Holdings Limited. He was a member of the 12th National Committee of the Chinese People’s Political Consultative Conference (CPPCC) and is currently a member of the 12th Jiangsu Province Committee of the CPPCC, the chairman of the Global Green Energy Industry Council, the vice chairman of the Global Innovation Centre, the chairman of Asian Photovoltaic Industry Association, the deputy director of the Green and Low Carbon Development Promotion Committee of China Enterprise Confederation, the executive vice president of the Energy Storage and Electric Vehicle Branch of China Electricity Council. Over the years, Mr. Zhu has been involved in the fields of power photovoltaic, natural gas, new energy vehicle operations and semiconductor sectors etc. Meanwhile, Mr. Zhu has a great influence in Xuzhou; with all major strategic deployment of GCL Group rooted in Xuzhou and started in Jiangsu.

Earlier on, HG Semiconductor also entered into a strategic cooperation framework agreement on 7 September 2022 with Golden Concord Group Limited (“Golden Concord Group”), a discretionary trust with Mr. Zhu Gongshan and his family members as beneficiaries, with the intention to establish close cooperation in application of gallium nitride (GaN) power chips in the fields of new energy, including Golden Concord Group or its subsidiaries will be involved in equity of the Group or its subsidiaries to establish in-depth cooperation. HG Semiconductor and Golden Concord Group will establish a domestic new energy joint venture (the “JV Company”) to tap into the application of GaN chips in the field of new energy, including but not limited to technologies and equipment on charging/exchanging batteries, energy storage technology and related equipment and distributed solar inverters.

The Group will provide technical support to the JV Company and jointly develop application products based on silicon-based power chips and third-generation semiconductors. Mr. Zhu’s investment in HG Semiconductor through his family trust and the signing of the strategic cooperation framework agreement with the Group are not only a recognition of the future development potential of the third-generation semiconductor business, but also demonstration of his confidence in the strategic development of the Group. The completion of the investment agreement signifies that the Group has formally established a close partnership with Golden Concord Group and will further develop its integrated industrial chain in the third-generation semiconductor arena and achieve rapid development of production capacity and products.

After nearly two years of business transformation, the Group has established a relatively prominent advantage in the field of GaN power semiconductors and new energy sector. With the completion of the Subscription Agreement with Mr. Zhu Gongshan and leveraging on his background as the major strategic shareholder of the Group, the Group expects that Mr. Zhu can (i) coordinate the resources of the new energy industry and form strategic synergy with the Group’s third-generation semiconductors (especially power chips) to form complementary industrial resources; (ii) use his financial resources and business network to assist the Group in the rapid development of production capacity and products; (iii) assist the Group to work closely with local governments to improve the policies and supports for the third-generation semiconductor industry; and (iv) use his own experience in operation and management to assist the Group to build up its talents, operations, technology, as well as research and development.

With the evolution of the technological revolution, the semiconductor industry has been deeply integrated into the new energy industry. For the future of mass energy system, the third-generation semiconductor GaN will play a core role and serve as a bridge between photovoltaic and mass energy systems. The management of the Group believes that the industrial resources of Golden Concord Group are expected to bring vast application opportunities for HG Semiconductor, enabling the Group to further accelerate the development of GaN technology and application in the field of new energy. The Shares Subscription and Warrants Subscription represent a good opportunity for the Group to raise additional capital for the its GaN business development, thereby enhancing the Group’s research and development capabilities and moving towards the goal of becoming an integrated device manufacturing (“IDM”) enterprise with semiconductor design and manufacturing as the core, as well as the integration of manufacturing, testing, and sales. In view of the strong demand for high-tech semiconductor products in both domestic and overseas markets, coupled with the promotion of national policies, the Group expects its GaN business development to grow steadily.

About HG Semiconductor Limited
HG Semiconductor Limited (6908.HK) is principally engaged in the semiconductor product business in China, including the design, development, manufacturing, subcontracting services and sales of light-emitting diode (LED) beads and a new generation of semiconductor gallium nitride (GaN). The Group is committed to accelerating its research and development and expansion in the application of GaN-related products, with an aim to become a leading semiconductor company with the integration of design, manufacturing and sales of semiconductor chips, as well as providing total solutions with higher efficiency and competitive system cost.

For more details, please visit www.hg-semiconductor.com.

Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

source https://netdace.com/acn-newswire/hg-semiconductor-and-gcl-technology-founder-mr-zhu-gongshan-officially-enters-shares-subscription-and-warrants-subscription-agreements/

Triller Inc. 從 Global Emerging Markets（GEM） 獲得 3.10 億美元的股權資助以作公開上市

公司預計將在第四季度初期以代號「ILLR 」公開交易

洛杉磯, Oct. 01, 2022 (GLOBE NEWSWIRE via SEAPRWire.com) — Triller Inc. (「Triller」) 和 GEM Global Yield LLC SCS (「GGY」) 今天宣佈由盧森堡的私人另類投資集團 GEM 投資 3.1 億美元，作為股份認購機制的形式。根據協議，在 Triller 公開上市後， GEM 將提供 Triller 高達 3.1 億美元的股權資本，為期 36 個月。

Triller 將沒有義務完全提取 3.1 億美元，但可以自行決定部分或全部提取。Triller 將控制所有提款時間和金額，並將在每次從該認購機制提款時向 GEM 發行股票。Triller 還將向 GEM 發出授權，進一步調整公司的利益。

Triller 在上個月向美國證券交易委員會提交了其私人 S-1 表格，並將在該認購機制關閉時同時提交其預期的最終 S-1 表格。預計交易將於 2022 年第四季度初開始。

Triller 行政總裁兼主席 Mahi de Silva 說道：「Triller 一直在蓬勃發展。我們在 2019 年成立時，是一家零收入公司，現在我們有望在今年突破 1 億美元的收入。Triller 應用程式已被下載超過 3.5 億次，公司與數十個世界上最大的品牌和數千位頂尖藝術家合作，顛覆了整個創作者社群。」

Triller 有 10 條業務線，其中 8 條處於收支平衡或有盈利，而每季有 7.5 億次互動，每次互動都是公司將來潛在的可營利交易。

隨著 GEM 的資金注入，Triller 將能夠進行額外的收購，以加強其為創作者社群提供的工具，並在短期內達到收支平衡或有盈利能力。假設完成了 3.1 億美元的所有股權融資，Triller 將籌集超過 6 億美元，而在其首次公開招股時，將幾乎沒有債務。

De Silva 說道：「Triller 正在打破封閉式系統的所有規則。它挑戰了利用創造者和使用者的優勢，把 99% 的資金留在系統內的舊機制。」 這個行業如此關注 MAU、DAU 等的原因在於，人們在一家公司的特定封閉式系統花了多少時間，意味著社交網絡「擁有」用戶、收入、品牌和資訊。

「Triller 打破了整個系統。作為一個開放式系統，我們的目標是將力量放回創作者和使用者手中，讓創作者和品牌能夠直接建立聯繫。我們提供工具，以最大限度地提高這些聯繫，以及每個人的獲利能力。此外，看看我們促進的互動人數有助我們預測未來收入，因為這些都是潛在交易費。」

關於 Triller Inc.：

Triller 是為創作者而設以人工智能驅動的開放花園技術平台。Triller 透過內容和技術的 360 度視圖將音樂文化與運動、時尚、娛樂和影響者進行配對，鼓勵其影響者在不同的社交媒體平台發佈在該應用程式上創立的內容，並使用專利人工智能技術，推動和追蹤其與附屬和非附屬網站和網絡的內容，以接觸數百萬個用戶。Triller 還擁有即時串流音樂平台 VERZUZ、格鬥運動品牌 Triller Fight Club、Triad Combat 和 BKFC、領先的客戶參與平台 Amplify.ai、全球領先的 PPV、 AVOD、和 SVOD 串流服務 FITE.tv、B2B 高級影響者活動和經驗領域的領導者 Thuzio、一個讓創作者連繫粉絲和營利內容的平台 Fangage、和一個利用創作者為品牌和機構進行互動和社交商務的平台 Julius。

關於 GEM
Global Emerging Markets (“GEM”) 是一家總部位於盧森堡，價值 34 億美元的私人另類投資集團，在巴黎、紐約和巴哈馬群島設有辦事處。GEM 管理一系列專注於新興市場的投資工具，並在 70 多個國家完成了 530 多筆交易。每種投資工具都有不同程度的營運控制、風險調整後的回報和流動性狀況。這個由資金和投資工具組成的家族為 GEM 及其合作夥伴提供，包括：小中型上限管理收購、在公共股權上的私人投資及精選風險投資。如欲了解更多詳情，請瀏覽： http://www.gemny.com

CONTACT: Tony Freinberg
Edendale Strategies 總裁
tony@edendalestrategies.com
(310) 614-1435

source https://netdace.com/globenewswire/triller-inc-%e5%be%9e-global-emerging-markets%ef%bc%88gem%ef%bc%89-%e7%8d%b2%e5%be%97-3-10-%e5%84%84%e7%be%8e%e5%85%83%e7%9a%84%e8%82%a1%e6%ac%8a%e8%b3%87%e5%8a%a9%e4%bb%a5%e4%bd%9c%e5%85%ac/

Genting aims to upend Macau casino landscape in bidding war

HONG KONG – Malaysian group Genting has emerged as a strong contender to unseat an incumbent Macau casino operator for a new licence, analysts and executives say, unleashing possibly the biggest shakeup in the world’s largest gambling hub in over two decades.

Only six slots will be available for the seven applicants, Macau’s government has said, as Genting Malaysia goes head-to-head with the six concessionaires Sands China, Wynn Macau, Galaxy Entertainment, MGM China , Melco Resorts and SJM Holdings as their concessions expire at year-end.

Headed by Malaysian Chinese billionaire Lim Kok Thay, Genting has casinos globally including in Malaysia, Singapore, the United States and the UK. It does not currently operate in Macau.

The stakes are high for Macau and the six gaming firms, which have operated in the Chinese special administrative region since 2002.

If one of the incumbents lost their licence it’s likely to send tremors throughout Macau’s gambling industry as the companies have collectively invested more than US$50 billion (S$72 billion) in the past two decades, are tied closely to the economic fortunes of the former Portuguese colony and employ tens of thousands of people.

It would cause “far too much disruption” if any of the six operators were replaced, said Terry Ng, an analyst at Daiwa in Hong Kong, although other industry watchers note the incumbents have left themselves vulnerable to an operator like Genting which lost out on a Macau licence in 2002.

Genting’s strong non-gaming track record, including operating two of the largest theme parks in South-east Asia, would be a big draw for Beijing which has been urging Macau to diversify away from gambling and attract foreign tourists.

The Malaysian group’s multiple non-gaming investments in China, including a prominent ski resort that was used for the Beijing 2022 Winter Olympics, are also likely to bolster its chances, analysts said.

Genting has been more successful at generating non-gaming revenue. In 2019 around 35 per cent of total revenue at its Singapore property came from non-gaming versus 10-20 per cent for Macau casinos.

Covid crunch

The Covid-19 crisis exposed Macau’s over-reliance on gaming, which analysts say underline the urgency to diversify as many of the incumbents are still struggling to recover.

Macau, the world’s biggest gaming hub by revenue, raked in US$36 billion in gambling revenues in 2019 – six times the Las Vegas Strip, before Covid decimated it by 70 per cent to US$10.8 billion in 2021.

Genting “can offer the Macau government whatever they expressly said they wanted,” versus the incumbents who have predominantly focused on Chinese VIPs, said Samuel Yin Shao Yang, an analyst at Maybank. Around 90 per cent of Macau’s visitation comes from greater China.

“Macau has been told over and over again to focus less on Chinese VIPs and more on non-gaming but they pretty much paid lip service to that idea. So now… they have to really make a hard divert to that philosophy,” Mr Yin said.

source https://netdace.com/latest-news/genting-aims-to-upend-macau-casino-landscape-in-bidding-war/

Apple’s ugly day wipes out $172 billion, spills over Big Tech

SAN FRANCISCO – Apple shares buckled after a rare analyst downgrade exacerbated another wave of selling pressure that wiped out hundreds of billions of dollars in market value from the largest US technology stocks.

The iPhone maker dropped 4.9 per cent after Bank of America (BOA) cut its rating to “neutral” from “buy”, warning of weaker consumer demand for its popular devices. The sell-off erased roughly US$120 billion (S$172 billion) from Apple’s market capitalisation.

There were few places to hide on Thursday, with investors dumping stocks as United States Federal Reserve officials continue to talk tough on raising interest rates in the central bank’s fight against inflation.

There were just three gainers in the Nasdaq 100 Stock Index, which fell 2.9 per cent and was within spitting distance of its June 16 low. Amazon.com and Alphabet fell nearly 3 per cent, while Microsoft dropped 1.5 per cent.

Meta Platforms sank 3.7 per cent after chief executive officer Mark Zuckerberg outlined plans to reduce headcount for the first time ever. The social media giant’s shares have fallen 59 per cent this year amid slowing user growth.

Apple has been treated as a haven for much of this year, outperforming fellow mega-caps and the broader tech gauge amid a steep sell-off driven by recession fears. The world’s most valuable company, with a market value of nearly US$2.3 trillion, has now fallen about 20 per cent in 2022, compared with a 32 per cent decline for the Nasdaq 100.

With consumer spending expected to cool across regions, BOA analysts said demand for Apple’s services had already slowed and product demand was likely to follow. Pressure from a stronger US dollar would only add to its woes, they said.

While “Apple’s long-term prospects remain favourable”, BOA expects negative estimate revisions and valuation risks in the near term.

The Nasdaq 100 is on pace for its longest streak of quarterly declines in 20 years, yet investors are still bracing for more pain as the Fed aggressively raises interest rates and Wall Street analysts begin cutting profit estimates.

Estimates for 2023 profit growth for tech companies in the S&P 500 have declined about 6 percentage points since the start of 2022, compared with a drop of 4 percentage points for the broader index, according to data compiled by Bloomberg Intelligence. BLOOMBERG

source https://netdace.com/latest-news/apples-ugly-day-wipes-out-172-billion-spills-over-big-tech/

Facebook parent Meta to cut headcount for first time, slash budgets across teams

SAN FRANCISCO – Meta Platforms chief executive officer Mark Zuckerberg has outlined sweeping plans to reorganise teams and reduce headcount for the first time ever, marking an end to an era of rapid growth at the social media giant.

In what would be the first major budget cut since the founding of Facebook in 2004, Mr Zuckerberg said the company would freeze hiring and restructure some teams to trim expenses and realign priorities. Meta would likely be smaller in 2023 than it was this year, he said.

He announced the freeze during a weekly question-and-answer session with employees, according to a person in attendance. He added that the company would reduce budgets across most teams, even those that are growing, and that individual teams would sort out how to handle headcount changes. This could mean not filling roles when employees depart, shifting people to other teams, or working to manage “people who are not succeeding”, according to remarks reviewed by Bloomberg.

“I had hoped the economy would have more clearly stabilised by now,” Mr Zuckerberg said. “But from what we are seeing, it does not yet seem like it has, so we want to plan somewhat conservatively.”

Meta stock, which was already trading down to start the day, fell further after the news on Thursday, down 3.7 per cent from Wednesday’s close. The shares have fallen 60 per cent so far this year.

Meta is not the only advertising-reliant company to be hit by broader economic challenges. Twitter enacted its own hiring freeze in May, and has been asking employees to watch their expenses and reduce travel and marketing costs. Alphabet’s Google, too, said that it would slow hiring during the second half of the year, and Snapcut 20 per cent of its workforce in August.

The further cost cuts and hiring freeze are Meta’s starkest admission that advertising revenue growth is slowing amid mounting competition for users’ attention.

It is not an ideal time to be cutting. Besides economic pressures, the company’s advertising business, built on precise consumer targeting, has lost some of its edge due to new privacy restrictions from Apple on tracking iPhone users.

TikTok is attracting younger users away from Instagram, and Mr Zuckerberg is making an expensive bet on the metaverse, an immersive virtual reality future where he imagines people will eventually communicate, an effort he has said will lose money for many years.

Meta said earlier this year that it was planning to slow hiring for some management roles, and had postponed handing out full-time jobs to summer interns. The freeze announced on Thursday was necessary because “we want to make sure we are not adding people to teams where we don’t expect to have roles next year”, Mr Zuckerberg explained in the meeting.

He had warned in July that Meta would “steadily reduce headcount growth” and that “many teams are going to shrink so we can shift energy to other areas”. Priorities internally include Reels, Meta’s TikTok competitor, and Mr Zuckerberg’s metaverse. Meta had more than 83,500 employees as at June 30, and added 5,700 new hires in the second quarter.

Mr Zuckerberg said on Thursday that the company would be “somewhat smaller” by the end of 2023.

“For the first 18 years of the company, we… grew quickly basically every year, and then more recently, our revenue has been flat to slightly down for the first time,” he told staff. BLOOMBERG

source https://netdace.com/latest-news/facebook-parent-meta-to-cut-headcount-for-first-time-slash-budgets-across-teams/

GIC seeks Japan property deals as yen falls and tourists return

SINGAPORE – Singapore sovereign wealth fund GIC is on the hunt for property deals and corporate partners across Japan as the falling yen and border reopening trigger a rush of tourists and deals.

Hotels, resorts and ryokan, or traditional Japanese inns, in key cities including Tokyo and Okinawa are among the types of properties being evaluated, its head of global investment and portfolio strategy, Mr Goh Chin Kiong, said in an interview.

The fund’s recent deal to buy properties from Japanese railway and hotel conglomerate Seibu Holdings hit the low single-digit billions of dollars and GIC is “happy to do more of those sizes”, Mr Goh said. Apart from hospitality, it is also interested in real estate such as residential and logistics projects, he added.

Japan’s property market has become a global target for large investors as the government prepares to scrap most of its remaining pandemic travel restrictions on Oct 11. This is despite the risk that investors could get caught out if the yen continues to decline against the United States dollar.

“GIC has always been interested in Japan real estate; we continue to be and we want to do more, which you can interpret as an increase in attractiveness for us,” Mr Goh said. “Financing costs in Japan have continued to stay low, especially relative to the rest of the world. The levered yield to us is attractive, especially versus Japanese yen bonds.”

GIC, which does not disclose its assets under management, is estimated to be one of the world’s biggest sovereign wealth funds with about US$690 billion (S$988 billion), according to consulting and research companies Global SWF and SWFI. About 7 per cent of its investments were based in Japan as at March 31.

While the resumption of tourism will offer a short-term boost to Japan’s real estate prospects, Mr Goh pointed out that inbound visitors had been rising before the pandemic shut borders – helping the fund’s confidence that its hospitality deals would continue paying off in the long run. BLOOMBERG

source https://netdace.com/latest-news/gic-seeks-japan-property-deals-as-yen-falls-and-tourists-return/

US stocks back in the red as Apple slumps

NEW YORK (AFP) – Wall Street stocks suffered another ugly rout on Thursday as US bond yields resumed their upward climb on a bruising day for shares of Apple and other tech giants.

Thursday’s economic reports included data showing a drop in weekly US jobless claims that point to a strong labour market likely to keep the Federal Reserve focused on its current policy of countering inflation.

“Risky assets don’t stand a chance of a meaningful rally if the economy continues to show resilience while inflation continues to be significantly above the Fed’s Funds rate,” said Oanda’s Edward Moya.

The broad-based S&P 500 dropped 2.1 per cent to 3,640.47, its lowest close since November 2020.

The Dow Jones Industrial Average lost 1.5 per cent at 29,225.61, while the tech-rich Nasdaq Composite Index tumbled 2.8 per cent to 10,737.51.

FHN Financial’s Chris Low said investors were also unnerved by market volatility in Britain after Prime Minister Liz Truss doubled down on a controversial tax cut policy that has rattled markets.

Investors fear a “contagion” beyond Britain in response to the policy proposal, Low said, noting the Truss plan contradicts the efforts of central banks to counter inflation and has been criticised by the International Monetary Fund.

Shares of large technology companies were under pressure after a downgrade of Apple by Bank of America based on expectations of slower growth.

Apple dropped nearly 5 per cent and Facebook parent Meta lost 3.7 per cent, while Tesla sank 6.8 per cent.

source https://netdace.com/latest-news/us-stocks-back-in-the-red-as-apple-slumps/

Eidosmedia 與 Sophi.io 在人工智能驅動的打印自動化上合作

該合作夥伴關係將 Sophi.io 的人工智能技術整合到 Eidosmedia 的編輯平台中，為 Eidosmedia 客戶帶來無縫的機器學習驅動的打印格式自動化

多倫多, Sept. 30, 2022 (GLOBE NEWSWIRE via SEAPRWire.com) — 面向全球领先新闻媒体集团的数字出版解决方案开发商Eidosmedia与《环球邮报》开发的人工智能驱动型自动化、优化与预测平台Sophi.io合作，为Eidosmedia客户提供无缝印刷排版自动化服务。

这项解决方案可将整个印刷页面排版流程耗时从数小时缩短到几分钟，而无需使用模板。出版商可在其目前所用的Méthode平台上大幅提高生产效率并降低成本。

Eidosmedia销售与合作伙伴计划总监Marco Cetola表示：“印刷页面布局的复杂性迄今为止一直阻碍着轻松实现快速发布在线格式内容的自动化。对于我们的客户，特别是大型区域集团和国家出版社而言，印刷业务仍然是他们的主要营收来源。在这个重要出版渠道，缩短制作时间和降低成本的方法引起了人们的极大兴趣。”

Marco表示：“我们的印刷版构建程序与Sophi的人工智能引擎非常契合。我们双方很快就能够在现有布局上开始训练分页模型，并在短短几天内取得了第一批成果。”

Marco表示：“我们获得了非常出色的效率提升成绩，对于那些页面设计操作通常需要争分夺秒来完成的日常出版物尤为突出。” 实际上，一份32页典型印刷版本可在几分钟内完成分页，而手工操作则需要耗时数小时。

由Sophi驱动的印刷自动化不同于其他印刷生产解决方案，因为它完全不需要使用模板。 Sophi驱动印刷自动化运用智能AI引擎，确保出版商的印刷页面在外观和感官上如同经验丰富的编辑和页面设计师亲制般逼真。每张页面均根据各个品牌的设计词汇重新设计。最终产品则是一份可供印刷的PDF或InDesign文件，可在几分钟内完成打印。

这项新技术的受益者是页面设计者本身。一段时间以来，由于出版商试图削减成本，页面设计者一直面临着提高生产效率的压力。 随着页面工作量日趋繁重，而相应劳动力日益减少，设计者需在紧迫时间内完成相关工作。自动化引擎将承担常规性工作，解放设计者的双手，使他们能够有精力、有时间从事首页、功能和特殊布局相关工作，这些方面是设计者的创造力可以切实增加价值的用武之地。

Marco表示：“自个人计算机取代打字机以来，页面自动化是出版行业实现的最大创新。

Sophi.io副总裁Gabe Gonda表示：“Sophi很高兴能够与Eidosmedia建立合作伙伴关系，通过Méthode平台提供我们的印刷自动化技术。Eidosmedia是一流的CMS供应商，深谙客户不断变化的各项需求。这项合作关系将有助于为世界上一些最佳报纸出版商提供独特的高价值解决方案。”

关于Eidosmedia

Eidosmedia（www.eidosmedia.com）是内容管理与数字出版领域的全球领先企业。世界各地的新闻媒体组织均采用Eidosmedia解决方案来创建和提供新闻产品组合，从先进数字格式到传统报纸和杂志无不涵盖其中。

关于Sophi Inc.

Sophi.io（https://www.sophi.io）由《环球邮报》开发，帮助内容出版商作出重要的战略和战术决策。它是一套由人工智能和机器学习驱动的自动化、优化与预测解决方案，包括Sophi Site Automation、Sophi for Paywalls和Sophi for First Party Data。Sophi还为无模板印刷出版的自动排版提供一键式支持。Sophi旨在改进对客户业务最为重要的指标。

CONTACT: 聯絡我們：

Marco Cetola
銷售及合作夥伴計劃總監
Eidosmedia SpA
｜電郵：marco.cetola@eidosmedia.com
｜電話：+390236732202

Jamie Rubenovitch
市場推廣主管
Sophi Inc.
｜電郵：jrubenovitch@globeandmail.com
｜電話：416-585-3355

source https://netdace.com/globenewswire/eidosmedia-%e8%88%87-sophi-io-%e5%9c%a8%e4%ba%ba%e5%b7%a5%e6%99%ba%e8%83%bd%e9%a9%85%e5%8b%95%e7%9a%84%e6%89%93%e5%8d%b0%e8%87%aa%e5%8b%95%e5%8c%96%e4%b8%8a%e5%90%88%e4%bd%9c/

SKYX Secures 10-Year Roof Rights for Signage on One of The Tallest Buildings in Miami

MIAMI, FL, Sep 29, 2022 – (ACN Newswire via SEAPRWire.com) – SKYX Platforms Corp. (NASDAQ:SKYX) (d/b/a “Sky Technologies”) (“SKYX,” “we” or “the Company”), a highly disruptive platform technology company with over 60 issued and pending patents globally for simplifying and enhancing safety and automation in homes and buildings, today announced that it secured a 10-year roof right lease for signage on one of the tallest buildings in downtown Miami, across the street from the Miami Heat FTX Arena and Biscayne Bay.

The new building is located on 400 Biscayne Blvd (US-1) and will include office space, residential as well as a high-end modern hotel. The downtown Miami area is both a U.S. and international hub for world leading companies – with the SKYX rooftop signage expected to be seen by tens of millions, including on TV shows and on Miami skyline imagery.

As part of the lease, SKYX has also secured a high-end, state of the art, high ceiling office space with 360-degree views and expects to open its U.S. and international sales offices, as well as its corporate headquarters, in the new location in 2023. As part of the agreement, the Company can start paying rent in January 2024. In addition, the Landlord will provide the Company with an improvement allowance of up to $2.25 million, which may be used for the construction of the Premises, including the reasonable cost of design, space planning, consultants, and construction drawings. The Company intends to use part of the office space and to sublease the remainder to minimize expenses.

Rani Kohen, Founder and Executive Chairman of SKYX Platforms, said: “Securing a long-term lease for SKYX signage and offices in the heart of downtown Miami provides an incredible level of brand awareness for SKYX. As reported, FTX paid $135 million to secure a long-term lease for naming of our next-door neighbor’s building, the Miami Heat Arena, now called FTX arena – and that speaks for itself.

“As we position ourselves to embark on our commercialization journey, this provides a significant foundation for our company on many levels. I look forward to moving into this exciting new space and elevating our public profile through continued operational execution, with the objective of creating sustainable, long-term value for our shareholders,” concluded Kohen.

To view images of the new office location, click here: https://skyplug.com/pr7/

To learn more about SKYX’s technology, access the explainer video link here: SkyXPlug.com/video

About SKYX Platforms Corp.

As electricity is a standard in every home and building, our mission is to make homes and buildings become safe-advanced and smart as the standard.

SKYX Platforms Corp. (NASDAQ: SKYX) has a series of highly disruptive advanced-safe-smart platform technologies, with over 60 U.S. and global patents and patent pending applications. Our technologies place an emphasis on high quality and ease of use, while significantly enhancing both safety and lifestyle in homes and buildings. We believe that our products are a necessity in every room in both homes and other buildings in the U.S. and globally. For more information, please visit our website at https://skyplug.com or follow us on LinkedIn.

Cautionary Statement Concerning Forward-Looking Statements

Certain statements contained in this press release constitute forward-looking statements. Management has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While they believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond management’s control. These statements involve risks and uncertainties that may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. Our estimates of the addressable market for our products may prove to be incorrect. The projected demand for our products could materially differ from actual demand. Forward-looking statements speak only as of the date they are made and include statements relating to the Company’s ability to successfully launch, commercialize, develop additional features and achieve market acceptance of its smart products and technologies, including commencement of presales, the Company’s efforts and ability to drive the adoption of Sky’s Plug Smart Platforms into multi-family residential buildings and communities and adoption by hotels, ability to capture market share, ability to execute on any sales and licensing opportunities, ability to achieve code mandatory status for the SkyPlug, and other risks and uncertainties described in the Company’s filings with the Securities and Exchange Commission. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

For the terms of the lease, see the Company’s current report on Form 8-K filed with the Securities and Exchange Commission on September 29, 2022. Under the terms of the lease, the Company does not expect to pay any rent for the first fourteen months of the lease, taking into account a six month build out period (which may be extended for up to four months), and four additional months of rent abatement after the rent commencement date. The Company may extend the build out period for four one month periods, provided that for each one month extension exercised, the annual base rent will increase by $1.00 per square foot. The signage is subject to obtaining necessary permits. The images included in this press release are for demonstration purposes only and are not necessarily representative of any signage expected to be installed.

Investor Relations Contact:
Lucas A. Zimmerman
MZ North America
(949) 259-4987
SKYX@mzgroup.us

SOURCE: SKYX Platforms Corp. dba Sky Technologies

Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

source https://netdace.com/acn-newswire/skyx-secures-10-year-roof-rights-for-signage-on-one-of-the-tallest-buildings-in-miami/

South Korea seeks to freeze $93m of Bitcoin linked to Terra founder Do Kwon

SINGAPORE – The South Korean authorities have asked two cryptocurrency exchanges to freeze some US$65 million (S$93 million) worth of Bitcoin linked to entrepreneur Do Kwon, the founder of the company behind two now-collapsed digital coins.

Kwon is the founder of Terraform Labs, the company behind algorithmic stablecoin TerraUSD, or UST, and its sister token Luna. Combined, these coins were worth around US$60 billion before they collapsed in May, sending shockwaves through the crypto industry.

On Thursday, Terraform Labs rejected South Korean charges over the collapse and said the case against Kwon had become “highly politicised”.

A spokesman for the firm said in a statement that prosecutors had demonstrated “unfairness and a failure to uphold basic rights guaranteed under Korean law”, adding that there is “no reasonable basis” for their accusation of breaches of capital markets law.

South Korea has sought help from Interpol to find Kwon after a court last month issued a warrant for his arrest. Terraform Labs had a base in Singapore, but his location is unknown after the police earlier this month said he is no longer in the city-state.

Officials have previously suggested that Kwon is evading their probe. The Terraform Labs spokesman said the 31-year-old via lawyers “is in contact with all government agencies that have asked to communicate with him”.

The spokesman said Kwon “is not on the run and remains actively involved in the management and oversight of Terraform Labs”.

The statement followed controversy over a Bitcoin reserve – the Luna Foundation Guard – connected to Kwon.

Kwon and the reserve denied transferring digital tokens after a trail of coin movement prompted South Korea to take steps to freeze assets.

Prosecutors sent requests to crypto exchanges KuCoin and OKX to freeze a total of 3,313 bitcoins, worth about US$65 million at current prices.

TerraUSD was meant to be pegged to the United States dollar. The system relied on a complex mix of algorithms and trader incentives involving Luna. But it unravelled when confidence in Kwon’s project evaporated.

The Terraform Labs statement rejected categorising Luna as a security under South Korea’s capital markets legislation. Just how to classify digital tokens remains a highly vexing issue for regulators the world over. BLOOMBERG

source https://netdace.com/latest-news/south-korea-seeks-to-freeze-93m-of-bitcoin-linked-to-terra-founder-do-kwon/

BayWa r.e. Eyes Expansion of Standalone Power Systems in Australia

PERTH, W AUSTRALIA, Sep 29, 2022 – (ACN Newswire via SEAPRWire.com) – BayWa r.e., the global energy developer, service provider, and distributor, is looking to expand its offering on Standalone Power Systems (SPS) to more regions in the State of Western Australia, and in the future, nationally, to different market sectors that require remote or standalone power.

This follows the company’s success in providing SPS to farming, mining, business communities and homeowners in parts of rural Western Australia at the beginning of 2018, who have greatly benefited from this innovative and cost-effective power source.

According to Western Power, the state owned corporation responsible for providing electricity in Western Australia, Western Australia has one of the largest isolated electricity networks in the world, and the provision of SPS at several sites in rural Western Australia in a trial exercise, helped ensure that the customers received adequate power supply.

Mr. Durmus Yildiz, Managing Director at BayWa r.e. Solar Systems Australia said “We are proud to be a part of powering the remote communities in the State of Western Australia and to be able to put our expertise in energy solutions to benefit the greater community. Through our network of trusted and capable off-grid installers, whom we work with to design and build such SPS. This has enabled BayWa r.e. to cater to different customers, depending on factors such as their required size of the system, location, or customer preference.”

These SPS operate independently off the grid and supply continuous power 24 hours a day, using a mix of solar and battery storage and backup generation. It is by far one of the most efficient local energy solutions that allows customers and the wider community in these remote areas to access a steady supply of electricity.

BayWa r.e. expansion plans for its offering of SPS include tapping into other regions in Western Australia, namely, the Kimberley and Pilbara as well as regions in the other states of the country such as the Northern Territory and Queensland. This vision of providing SPS nation-wide is part of BayWa r.e. ‘s commitment to aid Australia’s energy transition processes.

This is in line with the country’s climate goal to reach net-zero emissions by 2050, which would require a rapid construction of an electricity grid running almost 100 percent on renewable energy.

Some benefits of SPS includes serving as a safe and reliable source, maximised efficiency via clean energy storage, reduction in electricity costs, flexibility for communities to place systems where it is needed, and integrated system monitoring for improved maintenance.

“SPS is a clear choice for remote areas, agricultural and mining sectors. It is a reliable and cost-effective energy solution that can power up these communities in the interim as the country continues to expand and improve its electricity grid. We are also confident that through BayWa r.e.’s technical expertise and product knowledge in renewable energy, that new design elements will be implemented to these systems, to further contribute to the state and country’s transition towards net-zero emissions,” continued Mr. Yildiz.

BayWa r.e. has been operating in Australia since 2016, after transitioning from existing solar wholesaling business Solarmatrix. The Projects team entered the Australian market through the acquisition and subsequent development of the Hughenden Solar Farm in Northern Queensland. The Wind Projects team was established through the acquisition of a local developer, Future Energy, and its project pipeline. In total, BayWa r.e. has delivered seven utility scale wind and solar assets in Australia, including the 112 MW Karadoc and the 106 MW Yatpool solar farms near Mildura in Victoria.

BayWa r.e. AG (BayWa r.e.)

At BayWa r.e. we r.e.think energy – how it is produced, stored and can be best used to enable the global renewable energy transition that is essential to the future of our planet.

We are a leading global developer, service supplier, distributor and solutions provider and have brought over 4.5GW of energy online and manage over 10GW of assets. We are also an Independent Power Producer with an expanding energy trading business.

BayWa r.e. works with businesses worldwide to provide tailored renewable solutions. Operating 100% carbon neutral, we are also committed to our own sustainability journey.

Every day, we are working hard to actively shape the future of energy in a diverse, equitable and inclusive workplace.

Our shareholders are BayWa AG, a EUR19.8 billion global business, and Energy Infrastructure Partners, a leader in energy infrastructure investment. Visit https://www.baywa-re.com/en/.

Contact information:

PRecious Communications for BayWa r.e. AG
Daniel Tan
Tel: +65 6303 0567
E-mail: baywa-re@preciouscomms.com

BayWa r.e. AG
Salim Pathan
Marketing Manager, APAC
Tel: +66 62 698 7162
E-mail: salim.pathan@baywa-re.com

Mark Cooper
Corporate Communications
Tel: +49 89 383932 3611
E-mail: mark.cooper@baywa-re.com

Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

source https://netdace.com/acn-newswire/baywa-r-e-eyes-expansion-of-standalone-power-systems-in-australia/

Meet Spectre: The Platform Revolutionizing and Simplifying High Frequency Trading

St Vincent & the Grenadines, Sep 29, 2022 – (ACN Newswire via SEAPRWire.com) – When first stumbling into the world of high frequency trading, the complicated jargon and unintuitive platforms are oftentimes a barrier for non-technical users to understand their workings. Luckily, with the increase in interest in blockchain technology around the world coupled with human nature to innovate, development teams around the world are creating platforms for novice and experienced users alike to trade cryptocurrencies in a simple manner. A web search for “best trading platform” yields nearly 383 million results. Yet, after diving into some of these results, one stumbles across a conglomerate of difficult-to-comprehend terminology, tools, and trading techniques incomprehensible for beginners. In a world that is so interconnected and education is so accessible, how is it possible that an integral aspect of the financial system is still unreachable for complete beginners?

Luckily, with the increase in interest in blockchain technology around the world coupled with human nature to innovate, development teams around the world are creating platforms for novice and experienced users alike to trade cryptocurrencies in a simple manner. Spectre.AI is leading this trend.

Spectre is an online financial trading site created with the vision of allowing anyone to trade assets in a fraud-free and broker-free manner. Amassing an impressive 140,000 traders, Spectre has created an ecosystem that enables users to trade simply while minimizing risk and complexity.

As opposed to traders betting on token price fluctuations, Spectre introduced a trading strategy by predicting crypto directions! Traders can bet whether they believe the next time period (minutes, hours, days, or even seconds) will have a general up or down price movement. At the time of writing, they offer trading on any normal currency pair, metals, a variety of digital assets (all the big names, with more DeFi and NFT focused tokens to come in the future), and equities across several global stock markets!

Spectre also introduced two new financial products that have been a wide success across the financial trading industry: EPICs and Reverse Futures. In short, EPICs are Spectre’s benchmark index of Euro-based currency pairs, completely traded through time. Reverse Futures are Spectre’s digital contracts on past global equities. Currently, their Reverse Futures offering supports Apple, Microsoft, Facebook, Tesla, Twitter, and a variety of Indian equities. Several more are set to launch soon. Reverse Futures allows traders to trade on real-world equities but from an historical point of view. The concept is to synthetically construct the price performance of strong assets from the past and streamed them forward in time. This idea, although a bit complex to understand at first, revolutionizes the financial trading sphere by creating a completely new way for traders to profit.

Another interesting feature Spectre offers is the several ways to structure trading accounts, namely on and off-site trades. Through on-site accounts, the trading funds are deposited into the account and are used to trade directly on the platform, similar to most other trading exchanges. This juxtaposes their other trading option, off-site accounts, which is a fully decentralized and broker-less trading option. In short, users don’t have to actually deposit as all trades are initiated by them through their cryptocurrency wallet whilst using the platform. All of these trades are stored on their underlying blockchain. Given blockchain’s inherently publicly distributed and open-source nature, these trades provide unprecedented levels of transparency to the trading platform while ensuring complete safety of client funds. Additionally, Spectre offers a DeFi boost wallet where traders can earn the highest staking rewards in the industry, both in blue-chips and the DeFi token of their choosing. In addition, coupled with their 24/7 no-fee and fully compliant trading, Spectre has a robust analytics page for everyone to review their past trades and understand their profits and losses.

Another interesting aspect of Spectre is their trading bays. Finance and gaming have long been industries that have not coincided. Yet, with Spectre’s introduction of trading bays, that is slowly changing. Trader’s Bay is an online store, built into the Spectre platform itself that offers many upgrades and privileges that users can subscribe to for a small daily cost to enhance their trading. These enhancements include charms and spells which increase payouts, trade allocations, and limits of open positions! This article (bit.ly/3dPssEJ) brilliantly describes how the Trader Bays will unite gaming and finance. Spectre is certainly a pioneer in this regard.

To understand further how Spectre (www.spectre.ai) works, the Plato Blockchain (www.platodata.ai) team (and authors of this report) dived into the platform to grasp exactly what is attracting Spectre’s massive user base. At first glance, we were very impressed with the intuitive layout of the platform and the ease of creating an account and KYC. One important thing to note, however, is that users with an IP address from the United States will not have access to the platform. After playing with the platform for a short while, we went into the orders page to analyze how our performance was. The presentation of each of our trades was impeccably detailed, featuring the exact timing each action was done, entry and exit prices, sources, amongst a variety of other data points. After years of experience across a variety of trading platforms, we concluded Spectre’s reporting of our past trades was an experience unlike any other. We have plans in the future to experiment with their hyper-API, which allows developers to build automated trading robots, applications and trading interfaces that interact with the Spectre platform. We are curious and excited to understand the better applications and use-cases investment APIs for HFT will have in the future!

All in all, Spectre is certainly a game-changer platform creating a new paradigm in high frequency trading through accessibility and a suite of trading tools. In fact, Forbes India called Spectre “India’s Robinhood!” (bit.ly/3SoOD3G) Ultimately, the next generation of financial tools will be led by Spectre’s efforts. Through security, ease-of-use, and financial tools unique to their platform, Spectre is redefining HFT one trade at a time.

Source: www.platodata.ai

Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

source https://netdace.com/acn-newswire/meet-spectre-the-platform-revolutionizing-and-simplifying-high-frequency-trading/

US stocks rally after Bank of England intervention

NEW YORK (AFP) – Wall Street stocks jumped on Wednesday, shaking off a recent slump and rallying after the Bank of England’s (BOE) intervention in the British bond market reassured investors.

Following a historic slump in the pound, the BOE announced it was temporarily buying up long-dated British government bonds “to restore orderly market conditions”.

In both Britain and the United States, the move pressured Treasury bond yields, which had risen sharply as central banks hiked interest rates.

The intervention “helped calm markets and led to a reversal of a spike (in bond yields) that we had seen earlier this morning”, said Mr Angelo Kourkafas of Edward Jones.

Analysts noted that stocks were poised for an upturn after a bruising stretch since mid-August that had pushed major indexes to their lowest level of 2022.

The Dow Jones Industrial Average finished up 1.9 per cent at 29,683.74.

The broad-based S&P 500 gained 2 per cent to 3,719.04, while the tech-rich Nasdaq Composite Index jumped 2.1 per cent to 11,051.64.

Among individual companies, Biogen surged nearly 40 per cent after announcing positive clinical results for treatment of mild cognitive impairment due to Alzheimer’s disease.

Apple fell 1.3 per cent following a Bloomberg report saying it is retreating on a plan to boost production of its new iPhone due to lacklustre demand.

Netflix advanced 9.3 per cent off the back of an analyst upgrade amid hopes for the streaming platform’s development of advertising-based services.

source https://netdace.com/latest-news/us-stocks-rally-after-bank-of-england-intervention/

Kashifu Inuwa: Putting NITDA on the Cusp of a Revolution

LAGOS, NIGERIA, Sep 29, 2022 – (ACN Newswire via SEAPRWire.com) – Nothing offers a more reliable picture of a country’s economic performance better than a periodic assessment of sectoral contribution to Gross Domestic Product (GDP). It’s no less so in Nigeria where a report by the National Bureau of Statistics indicates that Nigeria’s Information and Communications sector contributed 18.44 percent to the GDP in the second quarter of 2022. The figure was an improvement from the 15 percent performance recorded in the last quarter of 2021.

Kashifu Inuwa, NITDA Director-General: “Globally, there is a shortage of talents, so, we are creating a mandate to develop a talent strategy because we have a competitive advantage as a country with our vast human and natural resources. Nigeria can seize the opportunity to fill that gap” [Image: NITDA 2022]

A little context will help put the significance of this growth in real perspective. The NBS data shows that the country’s Information and Communications sector’s contribution trumped the figures recorded by sectoral powerhouses such as Oil and Gas, Manufacturing, Real Estate, and Financial and Insurance. The plaudits – or a huge part thereof – for that sterling performance should go to the Ministry of Communications and Digital Economy, its helmsman Professor Isa Ali Ibrahim and the National Information Technology Development Agency (NITDA), and its steerer, Mr. Kashifu Inuwa Abdullahi.

NITDA, as the Federal Government Agency responsible for the development of the Information Technology sector in Nigeria, it is one of the seven agencies under the Ministry of Communications Technology and Digital Economy.

NITDA’s impressive scorecard could be glimpsed also in how quickly it has been able to develop strategies, to help grow the Nigeria information technology ecosystem in a COVID and emerging post-COVID era. Under its dynamic and innovation-driven Director-General, Kashifu Inuwa, so much has been achieved by the Agency in a short span of three years.

The NITDA Director-General, who recently marked three years in office, has gradually realigned and re-positioned the Agency, aiming to grow its capacity to respond adequately to the changing conditions and complexities of a digital economy in a fast-evolving global and local digital market.

Milestones achieved under the leadership of Inuwa have been multi-faceted and stand out as bold testaments of his commitment to innovation. Inuwa’s vision for NITDA in the medium term is encapsulated in a robust and bold policy framework – the Strategic Roadmap and Action Plan (SRAP, 2021 – 2024), which was launched last year.
SRAP is designed to support the even broader, National Digital Economy Policy and Strategy (NDEPS) enunciated by the Ministry of Communications and Digital Economy.

The many achievements recorded so far belie the fact that NITDA has implemented SRAP for just one year, a development that Inuwa recalls with an understandable pride: “The first year of implementing the NITDA Strategic Roadmap and Action Plan (2021 – 2024) has been one of deep learning, overcoming challenges and celebrating amazing breakthroughs. Along the way we got conferred with the prestigious National Productivity Order of Merit (NPOM) award, in recognition of our productivity, hard work and excellence in service delivery.”

In June 2021, the Agency started operating the National Public Key Infrastructure (PKI) with the Key Generation and Handover Ceremony for Root Certification Authority (RCA) for Country Signing Certification Authority (CSCA) and Country Verification Certification Authority (CVCA) of the Federal Republic of Nigeria. The NITDA Director-General remains upbeat about its prospects: “This unprecedented cybersecurity landmark (NDEPS Pillar 6) will not only close loopholes in online activity but significantly reduce system vulnerabilities that are exploitable by threat actors.” That was undoubtedly a milestone achievement for Nigeria’s digital space.

To further close out loopholes in online activity and generate proper accreditation of professionals, the Agency intends to implement seven cybersecurity interventions that are focused on the PKI.

A key component of this creative platform is that, it will coordinate the management of the Country Object Identifier (OID), and upgrade the PKI authentication infrastructure, create a PKI Audit requirement for Microsoft onboarding on operating systems, and integrate PKI with major hardware/software vendors. “We will then construct, furnish, and equip two National Cybersecurity Research Centers,” Inuwa says.

With regard to the expected outcome, Inuwa, reputedly Nigeria’s first Cisco-Certified Internetwork Expert (CCIE) public servant, says: “Digitalisation of Government processes facilitates transparency, efficiency, productivity, participation, inclusiveness, cost savings, and competitive advantage, which ultimately translates to social and economic development for a country like Nigeria.”

He also estimates that the “implementation of Enterprise Content Management (ECM) can save Nigeria N4.5bn annually”. For a government determined to curb corruption and cut costs, this is quite significant. Some of NITDA’s action plans in the area of regulation and framework development, which are already in the works, include fostering Gender Digital Inclusion, enthroning a seamless e-Commerce environment and enhancing government digital services.

“In 2022, we are developing the Framework on Gender Digital Inclusion (GDI), with the aim of codifying learning standards for different categories of IT learners, while addressing the wide gender disparities in digital literacy and skill acquisition,” he said.

He is optimistic that the Guidelines for e-Commerce in Nigeria will provide an enabling framework for e-commerce to thrive and increase online trade’s contribution to Nigeria’s GDP. Just as crucial, he noted, is the planned development of the “Framework and Regulations for Implementing Government Digital Services (GDS) as a Guideline for Federal Public Institutions (FPIs) to deliver digital services and the Framework for Implementation and Compliance with relevant regulations to ensure compliance with all developmental regulatory instruments such as the NDPR, Cloud Computing, outsourcing, among others”.

To some, these goals may seem rather grandiose. But Inuwa possesses a tapestry of experience as an IT professional, having worked, and indeed excelled, in highly challenging environments, among which are the Central Bank of Nigeria and Galaxy Backbone Limited. This imbues him with a capacity to sufficiently address current developments and discern the dynamic trends and markets in the IT sector. His deep knowledge of IT trends reflects in the remarkable way he has steered the Agency to address the likely challenges of tomorrow’s digital environment.

Under Inuwa, NITDA has issued 966 digital tools and supported the development of digital transformation plans in accordance with NDEPS Pillar 5 in 3 states. “These digital tools and expert guide, which are part of our initiative to develop a framework and implementation toolkits for measuring the impact of digital technology deployment in FPIs are already enabling institutions to embark on digital transformation self-assessments,” he said, regarding the feat.

When Inuwa assumed office as NITDA’s Director General in mid-2019, the global Covid-19 pandemic which led to the lockdown of several cities worldwide, including Nigeria, was only a few months away. When it hit the country in February 2020, prompting a government-ordered lockdown in April 2020 which lasted for several months, the Agency initiated and adopted several remote and contactless digital technologies that ensured government machinery kept working throughout the critical period. Inuwa set up a team called Tech4Covid to cushion the effects of Covid-19. This led to the identification of three innovations that helped curb Covid-19 and the establishment of a virtual academy for research and training with over 70 active courses and over 485,000 active students.

In the circumstances, Inuwa’s leadership and managerial skills which had been honed by several high-level trainings in leadership and management at reputable world-class institutions such as Harvard, Sloan Business School, London Business School, IMD Business School, Oxford University, Massachusetts Institute of Technology and Cambridge University, all came into play, ensuring that critical digital services are being delivered to government and that government can continue to perform its various functions effectively. The same expertise has come into play in his relentless efforts, to transform the Agency into a world class IT Agency.

One instance of this transformation is the service delivery. The Director General comments: “In terms of the service contract, we reviewed the existing SERVICOM unit, expanded stakeholder identification, introduced new roles, realigned responsibilities to absorb the changes, created a new identity tagged iServe, and completed a sensitization process with key action points. Today, iServe represents our people first commitment to customer satisfaction through innovation and professionalism as we pursue the digital economy goals.”

Another key part of NITDA’s statutory mandate is massive upskilling and reskilling of Nigerians across all walks of life. NITDA under Inuwa, has trained well over half a million Nigerians in various basic digital skills and literacy, with such diverse backgrounds as junior schoolteachers, traditional rulers, journalists, youth and talent development programme participants, among others.

The Agency has embarked on a journey to train 1 Million Software Developers in the next 18 months, in collaboration with global giants such as Microsoft, Google, and other key ecosystem players. “Globally, there is a shortage of talents, so, we are creating a mandate to develop a talent strategy because we have a competitive advantage as a country with our vast human and natural resources. Nigeria can seize the opportunity to fill that gap”, the NITDA, DG says, with high optimism.

At a higher level, NITDA has awarded over 450 scholarships in IT to deserving Nigerians at the master’s degree level, with 42 Phds, in the past few years.

Inuwa is delighted with the phenomenal growth of the Nigerian Digital Innovation Ecosystem. Recent large acquisitions such as Stripe’s $200 million takeover of Paystack in 2020, the $320 million Main One Ltd take over by US-based Equinix, and Flutterwave’s $3.5 billion valuation have proudly spotlighted the country as a notable digital innovation centre in Africa.

In the first half of this year alone, Nigeria’s Digital technology and innovation startups have raised over one billion dollars in venture capital funding from major Western capital market funds. Notable among them are Sudo Africa, $3.7 million, Casava, $4 million, DrugStoc, $4.4 million, Bamboo, $15 million, Credpal, $15 million, and Reliance Health, $40 million.

NITDA itself, has recently facilitated the support of six digital information technology start start-ups to access grants of $120 thousand each, amounting to $715 thousand. The Agency is actively backing several digital innovation hubs and has set up such hubs around the country, including over 150 start ups which it has supported to attend the GITEX global exhibition, World Creativity Challenge, among others.

Just the beginning of this year, NITDA facilitated the approval of three Federal Executive Council memos through the Ministry of Communications and Digital Economy, in favour of digital startups. These approvals will incentivise and further harness the country’s digital innovation and entrepreneurship ecosystem to create job opportunities for its teeming youth population.

Within three years, Inuwa has equipped 160 digital economy centres around the country to further catalyze skills development and digital innovations.

According to Statista, 35 million Nigerian internet users will be added by 2026, which is another clear indication of increasingly phenomenal growth in internet adoption and usage in Nigeria.

Addressing the recent Ogun State Digital Summit in Abeokuta, on Digital Technologies: Key to Sustainable Development, Inuwa affirms that “Digital Technology innovation is not only booming, but it is also quickly moving towards sustainable solutions, with many of the most promising ideas from businesses worldwide having a clear focus on the environment.”

An innovation powerhouse, Inuwa would yet, undoubtedly, be pushing forward the boundaries of innovative digital technologies in Nigeria and beyond, in the coming years.

Written by Iklima Musa
Lagos, Nigeria 28/09/2022.

Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

source https://netdace.com/acn-newswire/kashifu-inuwa-putting-nitda-on-the-cusp-of-a-revolution/

American Wave Machines 宣佈在巴西成立 P4erfectSwell(R) 聖保羅沖浪俱樂部

SOLANA BEACH, CA, Sep 28, 2022 – (亞太商訊 via SEAPRWire.com) – 在 Boa Vista Village 成功測試並展示了新的 PerfectSwell(R) 衝浪池後，該池現在被沖浪行業稱為“世界上最好的波浪池”，AWM 宣布他們再次與 JHSF 合作，提供世界一流的 衝浪到他們最新的項目， 聖保羅沖浪俱樂部。與 Boa Vista Village 一樣，SPSC 將提供相同的 PerfectSwell 高性能波浪。位於 Estaiada Bridge 附近，是 Real Park 獨家開發項目的一部分，它將成為聖保羅市的第一家衝浪俱樂部。該開發項目還將包括豪華住宅樓和2萬平方米的零售。這些住宅將可以使用衝浪俱樂部和 25,000 平方米的私人海灘。聖保羅沖浪俱樂部的總體規劃旨在保證聖保羅最高水平的生活質量，並將為其會員提供以體育為中心的獨家設施。

聖保羅沖浪俱樂部的 PerfectSwell 計劃於 2023 年開業

JHSF 首席執行官蒂亞戈·阿隆索 (Thiago Alonso) 表示：“JHSF 不斷尋求新的方式為其特殊客戶提供更好的生活質量，而聖保羅沖浪俱樂部是位於城市中心的世界級衝浪體驗。” “我們很自豪再次與 AWM 攜手合作。我們的團隊很高興能為聖保羅市創造另一個持久的標誌性項目。”

“很榮幸與巴西 JHSF 的優秀人士一起工作。我們開始欣賞巴西的職業道德和他們對沖浪無與倫比的熱情。看到巴西的 Pupo brothers和美國的 Geiselman brothers 一起衝浪 PerfectSwell 非常令人欣慰 ” AWM 創始人兼總裁 Bruce McFarland 說。 “我們對全球最佳衝浪地點網絡的願景正在實現，Boa Vista Village 和聖保羅沖浪俱樂部將關鍵地點添加到 AWM 不斷擴大的網絡中。”

關於American Wave Machines
American Wave Machines, Inc. 是 PerfectSwell(R) 和 SurfStream(R) 波浪技術的發明者和開發商。 AWM 開發世界級的衝浪設施目的地，擁有可靠的財務狀況和刺激的衝浪者。 PerfectSwell(R) 和 SurfStream(R) 在市場上獨樹一幟，並受到全球 50 多項專利的保護。自 2007 年以來，American Wave Machines 在全球各地的地點進行了超過 4,000,000 次沖浪活動。 www.americanwavemachines.com

關於 JHSF
JHSF Participacoes SA 是一家從事房地產行業的巴西控股公司。該公司通過其子公司參與住宅和商業物業的開發、購買和銷售以及租賃； 購物中心的建設和運營； 以及提供行政和合同管理服務。欲了解更多信息，請訪問 jhsf.com.br。

聯繫人: Jenna Timinsky – info@americanwavemachines.com – (858) 755-1497

來源: American Wave Machines, Inc.

Copyright 2022 亞太商訊. All rights reserved. (via SEAPRWire)

source https://netdace.com/acn-newswire/american-wave-machines-%e5%ae%a3%e4%bd%88%e5%9c%a8%e5%b7%b4%e8%a5%bf%e6%88%90%e7%ab%8b-p4erfectswellr-%e8%81%96%e4%bf%9d%e7%be%85%e6%b2%96%e6%b5%aa%e4%bf%b1%e6%a8%82%e9%83%a8/

Inflation in UK shops hits record high as pound tumbles

LONDON – Prices in British shops hit a fresh record high this month, heaping more pain on consumers already grappling with soaring energy and housing bills.

The British Retail Consortium (BRC) said shop price inflation accelerated to 5.7 per cent in September, topping the previous 5.1 per cent record increase in August. This is the highest level of inflation since the index began in 2005 as retailers increasingly pass on their surging costs to consumers.

“Retailers are battling huge cost pressures from the weak pound, rising energy bills and global commodity prices, high transport costs, a tight labour market and the cumulative burden of government-imposed costs,” said BRC chief executive officer Helen Dickinson in a statement.

Food bills are rising the most, with inflation hitting 10.6 per cent in September, from 9.3 per cent the previous month, according to NielsenIQ, which produces the data for the BRC. The war in Ukraine, adverse weather events, and higher prices of animal feed and fertiliser continue to put pressure on shelf prices, particularly for items such as margarine, said Ms Dickinson.

Shoppers hunting for non-food items, such as gardening and home products, also faced higher prices with inflation accelerating to 3.3 per cent in September, up from 2.9 per cent in August. Bulky items, such as sofas and garden furniture, have been harder hit by rising transport costs.

The fresh surge in inflation at a time when the pound is languishing at record lows will further dampen consumer sentiment. Data from NielsenIQ shows that 76 per cent of consumers say they expect to be “moderately or severely affected” by the cost-of-living crisis over the next three months, up from 57 per cent in the summer.

“So households will be looking for savings to help manage their personal finances this autumn and we expect shoppers to become more cautious about discretionary spend, adding to pressure in the retail sector,” said Mr Mike Watkins, head of retailer and business insight at NielsenIQ. BLOOMBERG

source https://netdace.com/latest-news/inflation-in-uk-shops-hits-record-high-as-pound-tumbles/

MetaBoundless Hosts First-ever Avatar Concert in the Metaverse

DUBAI, UAE, Sep 28, 2022 – (ACN Newswire via SEAPRWire.com) – First in the series of ‘Concerts of the Future’ will be an impressive and unique experience not to be missed, marking a major step for masses of users into the metaverse. MetaBoundless has partnered with the Algorand Foundation for this concert to mint NFTs for each concertgoer, serving as their digital ticket into the show. MetaBoundless has also partnered with Apparel group, the retail industry leader in the region, as the platinum sponsor and the leading eCommerce platform 6thstreeet.com as the official merchandise partner of this first concert of the future in the Arab world. Fans are to expect unique web3/ NFT fashion that will further push the uniqueness of the first in our series: Concerts of the Future — A Step into the Metaverse.

In a unique Arab-led virtual concert starring Ragheb Alama and Saad Lamjarred, ticket sales went live on September 15. This historical release is the first step towards accessing the exciting world of Web3, Metaverse, NFTS and DAOs. Concerts of the Future — A Step into the Metaverse is the first time Arabic music legends and superstars will unite in a dynamic series of virtual worlds to deliver a one-of-a-kind experience to fans. The virtual concert will be released live to fans on October 20, 2022, starring Ragheb Alama, Saad Lamjarred, and Michel Fadel, composing new and old hits from these superstars. The tickets can be purchased at https://metaboundless.io. However, these are not just any tickets. These tickets give you NFT rewards through the MetaBoundless claims portal, and these NFTs have unique benefits to be revealed over time.

MetaBoundless aims to simplify and utilize Web3 tools to create a bridge between superstars, content creators and influencers. For Concerts of the Future — A Step into the Metaverse, MetaBoundless has partnered with Algorand, a leading blockchain network known for environmental friendliness, hyper-low fees, and user-friendly ecosystem of applications. Shamir Ozery, Head of Web3 at the Algorand Foundation, commented, “We’re excited to be part of the Middle East’s first-ever metaverse concert! The artist avatar NFTs will serve not only as a commemorative token of a user’s participation in this first-of-its-kind experience but also to build a community among attendees and demonstrate utility, serving as each guest’s ticket into the virtual experience. It is a great opportunity for music fans to experience firsthand some of the creative use cases for digital assets beyond cryptocurrencies.”

Ragheb Alama talks about his partnership with MetaBoundless and this experience, “This is the first time my avatar will be revealed to the virtual world. Fans all over the world will see me in a new way and be able to access memorabilia from this event as NFT rewards for purchasing tickets. Everything in this concert is unique, this is the way to go for concerts in the future, and I am keen to keep up with the future and popular trends.”

Saad Lamjarred describes his participation in this concert, “I witnessed similar global experiences for futuristic concerts, and I am sure that this concert will be something very unique for our beloved fans. I am excited for the fans to see me and my unique digital avatar in the virtual concert.”

Music composer Michel Fadel stated, “The changes in the market and the music industry always require us to keep up with new trends. I am excited to partner with MetaBoundless to deliver these trends to a larger audience and help use some of these innovative tools to give more power to the fans.”

Dharmin Ved, CEO of 6thstreet.com, the merchandising partner of the first ‘Concert of the Future’ in the Arab world, stated, “As 6thstreet.com, we are all about setting trends for the future generations. As a first experience with a celebrity-led Avatar & NFT concert, we want to create a similar experience for the fans and ticket holders when it comes to the merchandise by Creating fashion items that will also be inspired and linked to the web3 space and NFTs.”

Adi K. Mishra, CEO and Founder of MetaBoundless, commented, “Our objective is to be able to connect celebrities with their fans using tools from the Web3 world. We are also looking forward to building our partnership with the Apparel group, the retail conglomerate in the GCC, and 6thStreet.com to deliver exciting merchandise options that link the real world and the virtual world for a community-led experience. We believe the world of media and entertainment will be transformed over the next decade, and MetaBoundless aims to be at the forefront of this change. The company is presently in discussions with other leading artists to bring onboard as well.”

About MetaBoundless

MetaBoundless is the new cultural economy designed to enhance entertainment, sports and media with the power of community. MetaBoundless is the Web3.0 bridge between creators and fans and connects creators and creator IP with fans to produce and scale creator content. MetaBoundless’ goal is to enable creators and fans to collaborate and invest in each other. Follow MetaBoundless for the latest news, announcements, and updates:
Website: www.metaboundless.io/index.html
Twitter: https://twitter.com/metaboundless
Instagram: www.instagram.com/metaboundless/
Youtube: www.youtube.com/channel/UC2hFf95w_AaJk6QShcZEu5A
Snapchat: www.snapchat.com/add/metaboundless

About Algorand Foundation

The Algorand Foundation is dedicated to helping fulfill the global promise of the Algorand blockchain by taking responsibility for its sound monetary supply economics, decentralized governance, and healthy and prosperous open-source ecosystem. The Algorand blockchain, designed by MIT professor and Turing Award-winning cryptographer Silvio Micali, is capable of delivering on the promise of a borderless global economy. It achieves transaction throughputs at the speed of traditional finance, with immediate finality and near zero transaction costs, and without a second of downtime since it went live in June 2019. Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism solve the “blockchain trilemma” by achieving both security and scalability on a decentralized protocol. Learn more at https://algorand.foundation.

Media Details:
For press enquiries, please contact pr@metaboundless.io

Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

source https://netdace.com/acn-newswire/metaboundless-hosts-first-ever-avatar-concert-in-the-metaverse/

A new model for smart and green industrial parks under development in central Vietnam

Vietnam, one of the fastest growing economies in the world, did something extraordinary at the United Nations annual climate change conference, or COP26, last year: It pledged not to build any new coal projects beyond those already under development as it transitions towards clean energy.

To achieve its ambitious goal, the country is actively implementing  several projects to develop renewable energy and promote the transition to clean energy and environment-friendly projects. One of them is the ground-breaking Son My I Industrial Park, a testament to the efforts and determination of the Vietnamese government to fulfil its commitment to fight climate change.

Located some 200km east of Ho Chi Minh City, the 1,070-hectare Son My I Industrial Park will be one of Vietnam’s biggest industrial parks and the first “green” industrial park site near the coast in the central region. It will prioritise high-tech and clean industries as well as feature the use of renewables such as wind, solar, and liquefied natural gas (LNG) to reduce its greenhouse gas emissions.

“Son My I Industrial Park and its seaport will play a strategic role in the region and become the new major economic force in Binh Thuan province as well as in the south-central Vietnam key economic zone,” Mr Le Quang Hieu, vice-chairman of developer IPICO, said at the project’s recent ground-breaking ceremony with the participation of Vietnam’s Prime Minister Pham Minh Chinh.

Equipped to meet the latest carbon emissions standards

IPICO, short for Son My Industrial Park Investment Construction and Trading Infrastructure Co. Ltd, was founded in 2017 to promote regional economic development,  improve the lives of local communities and conserve the environment. 

It is a pioneer in developing smart and green industrial parks and actively supports the Vietnam Government’s COP26 commitments. It also puts customers, partners and the community firmly in the centre of its development strategy. 

No surprise, then, that Son My I Industrial Park, developed by IPICO, will feature world class infrastructure and innovative technology that meet the latest carbon emission standards. A key highlight will be two LNG power plants, Son My 1 and Son My 2, spread over 200 hectares and boasting a total capacity of 4,500 MW.

There will also be a 100-hectare LNG warehouse port and supporting industries built on some 430 hectares of land. Meanwhile over 30 per cent of the park’s total land area will be set aside for technical infrastructure, utility constructions, industrial service zones, as well as educational, training, medical, healthcare and office facilities for park workers. 

Located in Binh Thuan province’s Ham Tan district, the industrial park is directly linked to major national transport networks including the National Highway 1A, the National Highway No. 55, and the Phan Thiet-Dau Giay Expressway. It is also easily accessible by airways as well as domestic and international waterways.

source https://netdace.com/latest-news/a-new-model-for-smart-and-green-industrial-parks-under-development-in-central-vietnam/

BPipe Corporation, a Joint Venture Partner of Biopipe Global USA, enters into Agreement with Major Global Food Company to Install 10 m3/day Biopipe Biological Sewage Wastewater Treatment Plant

MANILA, Sep 27, 2022 – (ACN Newswire via SEAPRWire.com) – BPipe Corporation, an equity joint venture partner of Biopipe Global USA, enters into an agreement with a major global food company to install a 10 m3/day Biopipe biological sewage wastewater treatment plant.

BPipe Corporation is focused on innovative, scalable and disruptive decentralized wastewater treatment and reuse technologies. Its flagship system is the Biopipe STP, which is a highly scalable onsite sludge, odor and chemical free sewage wastewater treatment technology. BPipe is an equity joint venture partner established in the Philippines to pursue both sewage and industrial wastewater treatment opportunities for technologies within our portfolio.

According to Mr. Freddie Canta, President of BPipe, “In addition to the sludge free, odor free, and chemical free features of Biopipe technology, the customizable design and flexibility to fit in small spaces were the deciding factors that led to this partnership with BPipe. We are happy that this client will promote environmentally sustainable practices by recycling treated wastewater through our Biopipe system.”

“Biopipe continues to see strong market interest in the Philippines as customers look to long-term, eco-friendly solutions for a more resilient future,” says Ms. Nina Aquino, CMO of Biopipe Global Corp. “We look forward to continuing our support of the country’s dedication to cleaner waters and safe sanitation practices.”

About Biopipe Global Corp

Biopipe Global Corp is a wholly owned subsidiary of Lifequest World Corp (OTC Markets: LQWC). Lifequest offers both effluent treatment (ETP) and sewage treatment (STP) solutions. Biopipe has developed a patented 100% sludge-free, chemical-free, odor-free, silent, easy to assemble and install, scalable, low cost, ecological and virtually maintenance-free onsite sewage wastewater treatment system. Our Abrimix ETP solution is a highly efficient and cost-effective industrial wastewater treatment system that is vastly superior to Dissolved Air Floatation (DAF) systems. See www.lifequestcorp.com and www.biopipe.co or contact: info@biopipe.co.

About BPipe Corporation

BPipe Corporation, a Philippine subsidiary of Biopipe Global Corp, is engaged in sales, marketing, distribution, installation, and maintenance of Biopipe STP, Abrimix ETP, Glanris Media and Goslyn FOG and other technologies through its global partnerships.

Philippines Contact
Name: Mr. Freddie Canta
Email: freddie@biopipe.co
Phone: +63 9171393642

Copyright 2022 ACN Newswire. All rights reserved. (via SEAPRWire)

source https://netdace.com/acn-newswire/bpipe-corporation-a-joint-venture-partner-of-biopipe-global-usa-enters-into-agreement-with-major-global-food-company-to-install-10-m3-day-biopipe-biological-sewage-wastewater-treatment-plant/

FTX wins bankrupt crypto firm Voyager Digital’s assets

NEW YORK – FTX US, the digital asset exchange founded by billionaire Sam Bankman-Fried, has won the auction for the assets of bankrupt crypto brokerage Voyager Digital.

The agreement is valued at about US$1.4 billion (S$2 billion), comprising an “additional consideration” worth about US$111 million and the US$1.3 billion market value of all the cryptocurrency at the bankrupt platform, according to a statement from Voyager on Monday in New York.

Customers will be able to transfer to the FTX US platform after the conclusion of the bankruptcy process, Voyager said, adding that the purchase agreement will be presented for approval in court on Oct 19.

The purchase follows several earlier attempts by FTX to bail out or acquire Voyager. The New York-based platform had about 3.5 million users at the end of March, and 1.19 million funded accounts.

Voyager filed for bankruptcy protection in July after a failed attempt by Alameda Research – a trading house affiliated with FTX – to bail it out with a revolving line of credit.

That same month, FTX and Alameda disclosed a joint bid for Voyager, but Voyager called it a “lowball” offer. In September, Alameda said it will return about US$200 million worth of Bitcoin and Ether it had borrowed from Voyager by the end of the month.

Mr Bankman-Fried has been aggressively buying up distressed crypto companies this year, scooping up millions of customers and valuable technologies at a lower price than they traded at just half a year ago.

Earlier this year, FTX propped up crypto platform BlockFi and was exploring a potential takeover of Robinhood Markets, where Mr Bankman-Fried owns a stake. He is estimated to own more than 50 per cent of FTX, 70 per cent of FTX US, and almost all of Alameda.

FTX is in the process of raising US$1 billion in a funding round, according to a source familiar with the deal, which has not closed yet or been made public. BLOOMBERG

source https://netdace.com/latest-news/ftx-wins-bankrupt-crypto-firm-voyager-digitals-assets/