Taichung Commercial Bank Co., Ltd. (“TCB”), Taipei, Taiwan, Announces Plan to Acquire City of Industry-based American Continental Bancorp and American Continental Bank
Acquisition Will Mark TCB’s Entrance Into the Attractive Greater Los Angeles Metropolitan Area and USA Market Key Highlights of the Proposed Transaction: Provides TCB with an initial foothold in the Greater Los Angeles Metropolitan market Highly compatible business model and shared credit culture TAIPEI, Taiwan and CITY OF INDUSTRY, Calif., Sept. 30, 2022 /PRNewswire/ — […]Continue Reading
AZURE POWER SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Azure Power Global Limited – AZRE
NEW ORLEANS, Sept. 30, 2022 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 31, 2022 to file lead plaintiff applications in a securities class action lawsuit against Azure Power Global Limited (“Azure” or the “Company”) (NYSE: […]Continue Reading
TUSIMPLE SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: KAHN SWICK & FOTI, LLC REMINDS INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against TuSimple Holdings Inc. – TSP
NEW ORLEANS, Sept. 30, 2022 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 31, 2022 to file lead plaintiff applications in a securities class action lawsuit against TuSimple Holdings Inc. (NasdaqGS: TSP), if they purchased or […]Continue Reading
KOHL’S SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Kohl’s Corporation – KSS
NEW ORLEANS, Sept. 30, 2022 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 1, 2022 to file lead plaintiff applications in a securities class action lawsuit against Kohl’s Corporation (NYSE: KSS), if they purchased the Company’s […]Continue Reading
YATSEN HOLDING SHAREHOLDER ALERT BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against Yatsen Holding Limited – YSG
NEW ORLEANS, Sept. 30, 2022 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 22, 2022 to file lead plaintiff applications in a securities class action lawsuit against Yatsen Holding Limited (NYSE: YSG), if they purchased the […]Continue Reading
For bulls, Bitcoin’s (BTC) daily price action leaves a lot to be desired, and at the moment, there are few signs of an imminent turnaround. Following the trend of the past six or more months, the current factors continue to place pressure on BTC price: Persistent concerns of potential stringent crypto regulation. United States Federal Reserve policy, interest rate hikes and quantitative tightening.Geopolitical concerns related to Russia, Ukraine and the weaponization of high-demand natural resources imported by the European Union. Strong risk-off sentiment due to the possibility of a U.S. and global recession.When combined, these challenges have made high volatility assets less than interesting to institutional investors, and the euphoria seen during the 2021 bull market has largely dissipated. So, day-to-day price action is not encouraging, but looking at longer duration metrics that gauge Bitcoin’s price, investor sentiment and perceptions of valuation do present some interesting data points. The market still flirts with oversold conditionsOn the daily and weekly timeframe, BTC’s price is pressing against a long-term descending trendline. At the same time, the Bollinger Bands, a simple momentum indicator that reflects two standard deviations above and below a simple moving average, are beginning to constrict. Tightening in the bands usually occurs before a directional move, and price trading at long-term resistance is also typically indicative of a strong directional move. Bitcoin’s sell-off from March 28 to June 13 sent its relative strength index (RSI) to a multi-year record low, and a quick glance at the indicator compared against BTC’s longer-term price action shows that buying when the RSI is deeply oversold is a profitable strategy. BTC/USD weekly chart relative strength index. Source: TradingViewWhile the short-term situation is dire, a price agnostic view of Bitcoin and its market structure would suggest that now is an opportune moment to accumulate. Now, let’s contrast Bitcoin’s multi-year price action over the RSI to see if any interesting dynamics emerge. BTC/USD weekly chart. Source. TradingViewIn my opinion, the chart speaks for itself. Of course, further downside could occur, and various technical and on-chain analysis indicators have yet to confirm a market bottom. Some analysts have forecast a drop to the $15,000–$10,000 range, and it’s possible that the buy wall at $18,000 is absorbed and turns into a bull trap. Aside from that event, increasing position size at the occurrence of an oversold weekly RSI has yielded positive results for those brave enough to take a swing. Another interesting metric to view in the longer timeframe is the moving average convergence divergence (MACD) oscillator. Like the RSI, the MACD became deeply oversold as Bitcoin’s price collapsed to $17,600, and while the MACD (blue) has crossed above the signal line (orange), we can see that it still lingers in previously untested territory. BTC weekly MACD. Source: TradingViewThe histogram has turned positive, which some traders interpret as an early trend reversal sign, but given all the macro challenges facing crypto, it should not be heavily relied upon in this instance. What I find interesting is that while Bitcoin’s price is painting lower highs and lower lows on the weekly chart, the RSI and MACD are moving in the opposite direction. This is known as a bullish divergence. BTC/USD weekly chart reflecting bullish divergences. Source: TradingViewFrom the vantage point of technical analysis, the confluence of multiple indicators suggests that Bitcoin is undervalued. Now, with that said, the bottom does not appear to be in, given that a bevy of non-crypto-specific issues continues to inject weakness into BTC’s price and the wider market. A drop to $10,000 is another 48% slide from BTC’s current valuation near $20,000. Let’s take a look at what the on-chain data is showing at the moment. MVRV Z-ScoreThe MVRV Z-Score is an on-chain metric that reflects a ratio of BTC’s market capitalization against its realized capitalization (the amount people paid for BTC compared to its value today). According to co-creator David Puell: “This metric clearly displays the peaks and busts of the price cycle, emphasizing the oscillation between fear and greed. The brilliance of realized value is that it subdues ‘the emotions of the crowds’ by a significant degree.”Basically, if Bitcoin’s market value is measurably higher than its realized value, the metric enters the red area, indicating a possible market top. When the metric enters the green zone, it signals that Bitcoin’s current value is below its realized price and that the market could be nearing a bottom. Bitcoin MVRV Z-Score. Source: GlassnodeLooking at the chart, when compared against Bitcoin’s price, the current 0.127 MVRV Z-Score is in the same range as previous multi-year lows and cycle bottoms. Comparing the on-chain data against the technical analysis indicators mentioned earlier again suggests that BTC is undervalued and in an optimal zone for building a long position. Related: Bitcoin price slips under $19K as official data confirms US recessionReserve RiskAnother on-chain data point showing interesting data is the Reserve Risk metric. Created by Hans Hauge, the chart provides a visual of how “confident” Bitcoin investors are contrasted against the spot price of BTC. As shown on the chart below, when investor confidence is high, but BTC price is low, the risk to reward or Bitcoin attractiveness versus the risk of buying and holding BTC enters the green area. During times when investor confidence is low, but the price is high, Reserve Risk moves into the red area. According to historical data, building a Bitcoin position when Reserve Risk enters the green zone has been a good time to establish a position. Bitcoin reserve risk. Source: LookIntoBitcoinAs of Sept. 30, data from LookIntoBitcoin and Glassnode both show Reserve Risk trading at its lowest measurement ever and outside the boundaries of the green zone.This newsletter was written by Big Smokey, the author of The Humble Pontificator Substack and resident newsletter author at Cointelegraph. Each Friday, Big Smokey will write market insights, trending how-tos, analyses and early-bird research on potential emerging trends within the crypto market. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.Continue Reading
On Sept. 30, NFT Steez, a bi-weekly Twitter Spaces hosted by Alyssa Expósito and Ray Salmond, met with Mashiat Mutmainnah to discuss how regenerative finance (ReFi) can provide more accessibility and inclusivity to blockchain technology. As a “mission-driven movement,” Mutmainnah explains that ReFi enables users to redefine their relationship with the current financial system and their relationship with finance and wealth. Currently, in many countries, millions of people lack basic, equitable access to the financial services that would allow them to meet their daily needs. What if there were newer models that could sustainably alleviate this? According to Mutmainnah, ReFi can redefine what money means and how it’s used. What is the impact of ReFi? Mutmainnah emphasized that ReFi brings awareness to how the present financial systems operate in an “extractive” and “exploitative” manner. She also drew a comparison to fast fashion by explaining that what enables a user to purchase a shirt for $5 comes at the expense of a child laborer. These “extractive” systems are no longer working for people since a core tenet of ReFi is equitable accessibility and distribution. Mutmainnah explained that often ReFi is seen as synonymous to climate, and while that is a pillar, ReFi has enabled “tangible and accessible use-cases.” Users can “plugin” and participate in models and systems that can increase their overall prosperity and that of the ecosystem. Therefore, ReFi can be considered a way of triangulating elements of sustainability via “stabilizing” the climate and “biodiversity,” while also keeping equitable access within global communities. This has the potential to create new financial models and systems that can increase prosperity. As Mutmainnah puts it:”ReFi is helping folks change the way they relate to money.” Related: NFT Steez and Lukso co-founder explore the implications of digital self-sovereignty in Web3Can Web3 and NFTs be used for social and public good?When asked whether NFTs could be used for social and public good, Mutmainnah referenced a pilot program that involved a “loyalty NFT rewards program.” Akin to Starbucks’ latest NFT loyalty program, Mutmainnah explained how a similar scheme could yield positive and sustainable benefits.For example, imagine purchasing an NFT that can grant the holder one free coffee for 10 days. In these models, NFTs can yield more economically feasible benefits than buying the item while also bringing more awareness to the good or service.Contrary to the hype and speculation circulating NFTs in 2021, more creators and platforms are expanding and exploring practical use cases from peer-to-peer and peer-to-business initiatives. However, that does not mean adoption comes with ease. According to Mutmainnah, beyond NFTs, there are many “infrastructure pieces” to explore, including building out more dynamic products that enable this. Mutmainnah explained that it’s a dance of sorts between “making a product frictionless” for seamless adoption and empowering the user to be an “advanced” user that takes full “ownership of their assets.”To hear more from the conversation, tune in and listen to the full episode of NFT Steez and make sure to mark your calendar for the next episode on Oct. 7 at 12 pm EST. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.Continue Reading
Bitcoin’s (BTC) spot trading below $20,000 is seeing a new “capitulation” event encompassing an entire year’s worth of buyers, research reveals.In one of its Quicktake market updates on Sept. 29, on-chain analytics platform CryptoQuant flagged intense selling by a large number of recent hodlers.2021 bull market coins “have been sold aggressively”As BTC/USD lingers near levels barely seen since 2020, it is not just miners feeling the pinch.Analyzing Bitcoin’s Exchange Inflow Spent Output Ages Bands (SOAB), CryptoQuant contributor Edris showed that those who bought between April 2021 and April 2022 have been selling coins en masse — for less than they bought them.“Looking at the chart, it is evident that coins aged between 6–18 months ago have been sold aggressively recently,” he concluded.“These coins have been bought between April 2021 and April 2022 at prices above $30K. This signal means that many holders who have entered the market during the 2021 bull market and above the $30K mark, have recently capitulated and exited the market at an approximate 50% loss.”Bitcoin exchange inflow Spent Output Age Bands (SOAB) chart (screenshot). Source: CryptoQuantSuch events should not be taken lightl because they tend to occur at the bottom of bear markets. The only question is whether the recent macro bottom in June at $17,600 will be this one’s floor.Edris added:“These types of capitulations tend to occur during the last months of a bear market, pointing to a potential bottom formation in the near future.” Profit warning meets profit potentialInvestigating Bitcoin’s Spent Output Profit Ratio (SOPR) metric, meanwhile, fellow CryptoQuant contributor Caue Oliveira highlighted another historical bear market trend repeating itself.Related: Bitcoin price due ‘big dump’ after passing $20K, warns traderSOPR divides the price paid for an amount of BTC by the price it is sold at. The resulting figure fluctuates around 1, with values below indicative of a bear market as investors begrudgingly shoulder net losses.According to data from fellow on-chain analytics firm Glassnode, as of Sept. 29, entity-adjusted SOPR was just over 0.95.The metric is trending back towards 1, having seen a local bottom in June, suggesting that the prime buying opportunity may have already hit.“Looking at the on-chain spending pattern of long-term holders, measured through the Spent Output Profit Ratio… we can find the biggest selling points at a loss,” Oliveira wrote.“Historically these points have been the best risk-adjusted entries in the last two bear market floors.”Looking ahead, a “maximum pressure point” for long-term holders (LTHs) is on the cards, he added, referencing selling pressure decreasing as SOPR inches higher.Bitcoin entity-adjusted Spent Output Profit Ratio (SOPR) chart. Source: GlassnodeThe views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.Continue Reading
https://thehill.com/wp-content/uploads/sites/2/2022/01/ca_arizonaflag_011922_getty.jpg?w=900 Story at a glance Arizona high school students on Thursday walked out of class to protest a number of new state laws that took effect Saturday that they say discriminate against LGBTQ+ people. Among the new laws that went into effect are two measures that ban transgender young people from competing on sports teams […]Continue Reading
The United States equities markets have been under a firm bear grip for a large part of the year. The S&P 500 and the Nasdaq Composite have declined for three quarters in a row, a first since 2009. There was no respite in selling in September and the Dow Jones Industrial Average is on track to record its worst September since 2002. These figures outline the kind of carnage that exists in the equities market.Compared to these disappointing figures, Bitcoin (BTC) and select altcoins have not given up much ground in September. This is the first sign that selling could be drying up at lower levels and long-term investors may have started bottom fishing.Daily cryptocurrency market performance. Source: Coin360In the final quarter of the year, investors will continue to focus on the inflation data. Any indication of inflation topping could bring about a sharp recovery in risk assets, but if inflation remains stubbornly high, then a round of sell-offs could follow.Let’s study the charts of the S&P 500 index, the U.S. dollar index (DXY) and the major cryptocurrencies to determine if a recovery is on the cards.SPXThe S&P 500 index (SPX) has been under intense selling pressure for the past few days but the bulls have held their ground. This indicates that bulls are buying the dips near 3,636.SPX daily chart. Source: TradingViewThe first resistance on the upside is 3,737. If bulls thrust the price above this level, the index could rise to the 20-day exponential moving average (3,818). In a downtrend, this is the important level to keep an eye on because a break and close above it will suggest that the bears may be losing their grip. Sharp declines are usually followed by strong rallies. That could carry the index to the downtrend line and then to the 50-day simple moving average (4,012).The bears are likely to have other plans. They will try to extend the downtrend by sinking and sustaining the price below 3,636. If they manage to do that, the index could plummet to 3,500 and later to 3,325.DXYThe U.S. dollar index surged to 114.77 on Sept. 28, which pushed the relative strength index (RSI) into deeply overbought territory. This may have attracted profit-booking by the short-term traders which pulled the price near the 20-day EMA (111).DXY daily chart. Source: TradingViewThe bears will have to yank the price below the 20-day EMA to suggest that the bullish momentum could be weakening. That could clear the path for a possible drop to the 50-day SMA (108). The zone between the 50-day SMA and the uptrend line is likely to witness aggressive buying by the bulls because if they fail to defend the zone, it will indicate that the index may have topped out.On the other hand, if the price turns up from the current level or rebounds off the 20-day EMA, it will indicate that the bulls continue to buy on dips. Buyers will then again attempt to thrust the price above 114.77 and resume the uptrend. The next target objective on the upside is 118. BTC/USDTBitcoin bounced off the strong support at $18,626 on Sept. 28, indicating that the bulls continue to fiercely defend this level. The long tail on the candlestick of the past two days shows that bulls are buying the intraday dips.BTC/USDT daily chart. Source: TradingViewThe bulls pushed the price above the 20-day EMA ($19,602) on Sept. 30 but are struggling to sustain the higher levels. This shows that bears are selling near the 50-day SMA ($20,621). If bulls do not allow the price to drop below the 20-day EMA, the likelihood of a rally to the downtrend line increases. The bears are expected to mount a strong resistance at this level but if bulls clear this hurdle, the BTC/USDT pair could signal a short-term trend change. The pair could then rise to $22,799.Contrary to this assumption, if the price turns down from the current level or the 50-day SMA ($20,625), the pair could again drop to the $18,626 to $17,622 support zone.ETH/USDTEther (ETH) has been declining in a descending channel pattern for the past several days. In the short term, the price has been stuck between $1,250 and $1,410, indicating demand at lower levels but selling near the resistance.ETH/USDT daily chart. Source: TradingViewThe price action inside the range is usually random and volatile. Hence, it is difficult to predict the direction of the breakout with certainty. If the price breaks above $1,410, it will suggest that the bulls have absorbed the supply. That could propel the price to the resistance line of the channel. The bulls will have to overcome this barrier to suggest a potential trend change.On the other hand, if the price turns down and breaks below $1,250, the bears will attempt to cement their advantage by pulling the ETH/USDT pair below the channel. If they succeed, the pair could drop to $1,000.BNB/USDTBinance Coin (BNB) turned up sharply from $266 and broke above the 20-day EMA ($278) on Sept. 28. This indicates that lower levels are attracting strong buying by the bulls.BNB/USDT daily chart. Source: TradingViewThe bulls pushed the price above the resistance line of the descending channel on Sept. 29 but are facing resistance at the 50-day SMA ($288). If bulls do not allow the price to plummet back below the 20-day EMA, it will improve the prospects of a break above the 50-day SMA. The BNB/USDT pair could then rally to $300 and later to $338.On the contrary, if the price turns down and breaks below the 20-day EMA, it will suggest that bears continue to sell at higher levels. The pair could then decline to the strong support at $258.XRP/USDTXRP rebounded off the 20-day EMA ($0.43) on Sept. 28, indicating a change in sentiment from selling on rallies to buying on dips. However, the bears are unlikely to give up as they will try to stall the recovery in the $0.52 to $0.56 zone.XRP/USDT daily chart. Source: TradingViewIf buyers do not give up much ground from the current level, the possibility of a break above the overhead zone increases. A break above $0.56 will signal the resumption of the uptrend. The XRP/USDT pair could then rise to $0.66.Conversely, if the price continues lower, the pair could drop to the breakout level of $0.41. The bulls are likely to defend this level vigorously. If the price rebounds off this level, the pair may enter a range-bound action for a few days.ADA/USDT The long tail on Cardano’s (ADA) Sept. 28 and 29 candlestick shows that the bulls bought at lower levels in an attempt to defend the uptrend line. Although the price rose above the uptrend line on Sept. 29, buyers could not sustain the recovery.ADA/USDT daily chart. Source: TradingViewThe price has again tumbled below the uptrend line on Sept. 30. The downsloping moving averages and the RSI in the negative territory suggest that the path of least resistance is to the downside. If the price breaks below $0.42, the ADA/USDT pair could decline to the crucial support at $0.40. The bulls are expected to defend this level with vigor.Contrarily, if the price turns up from the current level and closes above the uptrend line, it will suggest strong buying at lower levels. The bulls will then again try to push the price above the 20-day EMA ($0.45) and challenge the resistance at the 50-day SMA ($0.47).Related: Bitcoin surges above $20K after 6% BTC rally gains steam ahead of the monthly closeSOL/USDTBuyers are attempting to form a higher low in Solana (SOL). The price rebounded off $31.65 on Sept. 28 and reached the 50-day SMA ($34.70) on Sept. 30.SOL/USDT daily chart. Source: TradingViewThe 20-day EMA ($33.30) is trying to turn up and the RSI is just above the midpoint, suggesting that the bulls are attempting a comeback. If the price breaks and sustains above the 50-day SMA, the bullish momentum could pick up and the SOL/USDT pair could rally to $39. The bears are expected to mount a strong resistance at this level.Alternatively, if the price turns down from the 50-day SMA, the pair could drop to $31.65. A break below this support could sink the pair to $30.DOGE/USDTDogecoin (DOGE) dipped below the 20-day EMA ($0.06) on Sept. 25 and the bears thwarted attempts by the bulls to resume the recovery on Sept. 27.DOGE/USDT daily chart. Source: TradingViewThe 20-day EMA is flattish and the RSI is just below the midpoint, indicating a balance between supply and demand. This balance could tilt in favor of the bears if they sink the price below the support near $0.06. The price could then plunge to $0.05.The bulls will gain the upper hand if they drive and sustain the price above the 50-day SMA ($0.06). The DOGE/USDT pair could then attempt a rally to $0.07 where the bears may again mount a stiff resistance.DOT/USDTPolkadot (DOT) has been trading in a tight range between $6 and $6.64 for the past few days. This indicates a tough battle between the bulls and the bears. DOT/USDT daily chart. Source: TradingViewThe gradually downsloping moving averages and the RSI in the negative territory suggest that bears have a slight edge. If the price drops below $6, the DOT/USDT pair could start the next leg of the downtrend. The pair could then slide to $4.To invalidate this negative bias, bulls will have to push and sustain the price above the 20-day EMA ($6.64). If they do that, it will suggest that the consolidation near the support may have been an accumulation phase. The pair could then rise to the 50-day SMA ($7.26) and later to $8.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.Market data is provided by HitBTC exchange.Continue Reading
MicroStrategy, the business intelligence and tech company that holds the world’s largest Bitcoin (BTC) reserve, is hiring a Bitcoin Lightning software engineer to create a Lightning Network-based software-as-a-service platform.The new engineer will be responsible for building a Lightning Network-based platform to address enterprise cybersecurity challenges and enable new e-commerce use cases, according to a job posting linked to the MicroStrategy website. Besides “an adversarial mindset,” the applicant should have certificates, knowledge of tools and programming languages, and experience with decentralized finance technologies.MicroStrategy is looking to hire a Bitcoin Lightning Software Engineer to build a Lightning Network-based SaaS platform. #bitcoin pic.twitter.com/XFYrkIaFA9— Neil Jacobs (@NeilJacobs) September 30, 2022MicroStrategy, founded in 1989, began a Bitcoin buying spree in August 2020 that has culminated in a reserve of 130,000 BTC, worth $2.57 billion at the time of writing. The purchase of the final 301 BTC of its holdings was announced on Sept. 20, paying around $3.98 billion for the entire reserve. Bitcoin profitability for long-term holders recently hit a four-year low. MicroStrategy now holds 0.62% of all the BTC that will ever exist. MicroStrategy co-founder and former CEO Michael Saylor is well known as a Bitcoin maximalist and defender of the cryptocurrency. Saylor resigned as CEO on Aug. 2 but remains the executive chair of the company. Saylor said the change would:“Enable us to better pursue our two corporate strategies of acquiring and holding Bitcoin and growing our enterprise analytics software business.”Saylor and MicroStrategy were sued at the end of the same month for tax evasion by the office of the Washington, DC attorney general.Related: How high transaction fees are being tackled in the blockchain ecosystemThe Lightning Network is a Bitcoin layer-2 protocol designed to raise payment throughput and lower transaction fees. It has been making slow progress in facilitating peer-to-peer transactions since it debuted in 2018.Continue Reading
As the window to collect an enhanced recruiting deal from UBS Wealth Management USA closes, the wirehouse has extended a week-long string of recruiting wins with another handful of brokers from its wirehouse rivals. This round of teams and solo practitioners managed a combined $1.2 billion, and recruiters said more multi-million dollar teams moved to […]Continue Reading
The Japanese Ministry of Health, Labour, and Welfare stated on Sept. 29 that it recommends an amendment to the country’s drug law, known as the Cannabis Control Act. According to Reuters, the agency expressed the need to allow cannabis to be imported and permitted for medical use, which would align it with other countries that already have established medical cannabis programs.
Medical cannabis would be regulated like pharmaceuticals, and “would apply to marijuana products whose safety and efficacy were confirmed under laws governing pharmaceuticals and medical devices,” according to Reuters.
According to translated documents published on Sept. 28 by the Japanese Ministry of Health, Labour, and Welfare, a large number of individuals contributed to the review and recommendations, including professors and medical professionals. According to the report, only 1.4% of people in Japan report having ever used cannabis. In western countries, consumer percentages range between 20-40%.
In the U.S., Epidiolex is the first CBD medicine approved by the Food and Drug Administration (FDA) for treating children with epilepsy, and specifically those who suffer from Lennox-Gastaut syndrome, Dravet’s syndrome, and tuberous sclerosis complex. As of March 2019, Epidiolex began undergoing clinical trials in Japan, although there have been no further reports or updates. The trials are exempt from the country’s Cannabis Control Act, which prohibits cannabis import/export and consumption. At the time, the country reported having 3,000 residents who suffer from Dravet syndrome, and 4,300 who suffer from Lennox-Gastaut syndrome.
In its current form, the Cannabis Control Act is limiting all forms of progress in relation to cannabis, including hemp.
In January 2021, the Hokkaido Industrial Hemp Association (HIHA) released a statement addressing the Japanese Ministry of Health, Labour, and Welfare’s investigation on cannabis and other drugs. “The Cannabis Control Act is a profoundly unreasonable law that restricts all cannabis regardless of the quantity or even presence of THC (Tetrahydrocannabinol, the active ingredient in marijuana, the chemical synthetic substance of which are designated as an illegal drug in Japan), and even prohibits the cultivation of hemp from overseas (see note below) containing none of this substance,” HIHA wrote. “First, concerning the Cannabis Control Act and problems with its application, we would like to recommend the development of a more reasonable law formulated based upon discussion that is made public to the citizens of Japan and upon scientific knowledge.”Continue Reading
Cross-chain communication between blockchains is more than just moving data from point A to B, but how it can connect applications and users for enhanced experiences and fewer gas fees in Web3, outlined Sergey Gorbunov, Axelar Network co-founder and CEO, speaking to Cointelegraph’s business editor Sam Bourgi on Sept. 28 at Converge22 in San Francisco. As the crypto industry has developed over the past few years, blockchain interoperability has seen a surge in demand, attracting venture capital and welcoming players, such as Axelar, which reached unicorn status in February. According to Gorbunov, the company, founded in 2020, started with a premise that cross-chain and multichain capabilities would come to define the crypto space. “The idea is not just to talk about how to connect A to B, but how to connect many to many, right? How to connect everybody with everyone else. And that includes applications and includes users,” he explained. Interoperability is a buzzword in the crypto industry that refers to the ability of many blockchains to communicate, share digital assets and data, and work together, thereby sharing economic activity. As an infrastructure, interoperability is crucial for broader adoption of the technology, as Gorbunov explained:”We need an ability for the user to execute one call on one chain, and that transaction actually taking place on other chains without them having to go and get a native token of that chain, pay gas, execute themselves and move it back and forth.”Axelar’s CEO highlighted that, beyond better experiences for users, interoperability also means higher economic outcomes, as interoperable chains can have unified liquidity and thus spend less on gas fees for transactions. “Our Web2 experience is a lot simpler, and we have to get to the same level in Web3 with simpler experiences, and that is what cross-chain enables us to do, to help build those simple experiences.”Related: Circle Product VP: USDC chain expansion part of ‘multichain’ visionAt Converge22, Axelar was announced as one of the networks set to integrate with Circle, the financial technology company behind the USD Coin (USDC) and Euro Coin (EUROC). Circle is launching a new cross-chain transfer protocol to help developers build frictionless experiences for sending and transacting USDC natively across blockchains. Earlier this week, Axelar disclosed a partnership with Mysten Labs, the infrastructure company behind the Sui blockchain, to deliver cross-chain communication for developers through General Message Passing and advance the prospect of a so-called “super DApp.”Writer and editor Sam Bourgi contributed to this story.Continue Reading
The Liquor and Cannabis Board in the state of Washington said Wednesday that it has reached a settlement with Unicorn Brands LLC over a “a year-long investigation and multiple Administrative Violation Notices (AVNs) for creating synthetically-derived THC from hemp and distributing it into the state-regulated cannabis market.”
The board said that Unicorn Brands “cooperated with the investigation” and ceased the conversion process that was under question. Last summer, the Liquor and Cannabis Board issued a policy statement that “made clear that synthetically-derived THC from hemp was prohibited under current rules and law.”
“This was an important case about the integrity of the legal cannabis system voters approved ten years ago and which today flourishes in Washington with a carefully controlled system of production, processing and selling of cannabis to adults,” Liquor and Cannabis Board chair David Postman said in an email to marijuana license holders in the state, reminding the businesses “of the prohibition on the sort of laboratory conversions involved in the Unicorn case.”
In October of last year, the board’s Education and Enforcement Division issued an Administrative Violation Notices to Unicorn Brands for four violations in its synthesis process: “1) Misuse of License, 2) Criminal Conduct, 3) Noncompliant Extraction, and 4) Traceability Failure.”
Under the terms of the “comprehensive settlement” between the two sides, the board said that Unicorn Brands “will not resume converting hemp into THC and brings an end to a lengthy and complex investigation.”
The board provided more details on the back-and-forth that preceded this week’s settlement.Continue Reading
Bitcoin (BTC) swiftly climbed above $20,000 after the Sept. 30 Wall Street open as end-of-month volatility began. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin volatility back for monthly closeData from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining 3% in a single hourly candle to hit local highs of $20,171 on Bitstamp.The move followed predictions from traders, who were looking for slightly higher levels to precede a fresh downside move.“Moving my stop to my entry now at 19.3k but letting it ride first to 21.7k where I think there’s some major resistance,” popular trader Pentoshi wrote in part of a fresh Twitter update about his trading plans.“Looks like strength to me,” trading account IncomeSharks continued.“Great way to finish the week off after seeing people switch back to being bearish every other day depending on the candle color.”Fellow trader Cheds called $20,000 a “pivot,” focusing attention on the psychologically significant level. Cheds previously flagged declining U.S. dollar strength — a classic catalyst for risk-asset performance. The downturn in the U.S. dollar index continued on the day, approaching 112 points after meeting resistance during a rebound.U.S. dollar index 1-hour candle chart. Source: TradingViewA further macro catalyst came in the form of United States Personal Consumption Expenditures Price Index data, which came in hotter than expected, increasing pressure on the Federal Reserve.In Europe, record Consumer Price Index readings brought shock for some, with highlights including the Netherlands’ 17.1% year-on-year increase.The fate of September’s candle hangs in the balanceMeanwhile, with hours to go until the September monthly candle close, eyes were firmly on whether bulls could stay the course.Related: Bitcoin profitability for long-term holders declines to 4-year low: DataWhether BTC/USD would finish the month up or down versus the start remained open to interpretation, as did the fate of monthly support. BTC/USD 1-month candle chart (Bitstamp). Source: TradingViewAt publication time, the pair was 0.35% higher than on Sept. 1 — still enough to post its first “green” September since 2016, data from Coinglass confirmed.Looking ahead, analyst William Clemente reiterated that statistically, Q4 was a solid period of returns for hodlers.“Historically Q4 has been Bitcoin’s best performance by far, with an average quarterly return of +103.9%,” he tweeted. “October and November have been its best performing individual months with avg returns of 24% and 58%. Does seasonality matter? Let’s see.”Coinglass data likewise showed that for Q3, BTC/USD was currently at 0.92%.BTC/USD monthly returns chart (screenshot). Source: CoinglassThe views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.Continue Reading
Merrill Lynch is offering $50 to brokerage customers whose children open checking accounts at its parent bank as part of a push to capture next-gen clients, a company spokesperson confirmed. The offer, which was timed around returning to school, had been in effect since June and expires on Friday, Sept. 30, the spokesperson said. It […]Continue Reading
Recently, researchers at Mitiga have sounded the alarm about a new Business Email Compromise (BEC) campaign. They discovered evidence of the campaign responding to another incident and have watched the campaign grow in scope and scale over time. Here’s how the attack works: The individual targeted by the campaign receives an email that appears to […]Continue Reading
The joint committee of Europe’s three primary financial regulatory agencies, the European Supervisory Authorities (ESAs) announced today proposals to add disclosures to the EU’s Sustainable Finance Disclosure Regulation (SFDR) relating to investments in fossil gas and nuclear energy activities. Under the new proposals, providers of investment products classified under SFDR as Article 8 (products promoting […]Continue Reading
Human rights investigators appointed by the United Nations (UN) have confirmed war crimes have been committed by Russian forces in Ukraine. A report developed by the Independent International Commission of Inquiry on Ukraine was created in March 2022 to provide a framework for UN human rights investigators to report war crimes in the region. Erik Møse, chair for the Independent International Commission of Inquiry on Ukraine, stated in the UN’s article that “investigators visited 27 towns and settlements and interviewed more than 150 victims and witnesses.” Møse also noted that “sites of destruction, graves, places of detention and torture, as well as remnants of weapons,” were inspected. While the report developed by the commission has allowed UN investigators to document war crimes in Ukraine, tools and protocols are still needed to enable individuals to accurately and securely report these acts. Additionally, the need to preserve war crime evidence has become critical as the War in Ukraine enters its seventh month. Given these challenges, industry experts believe that blockchain technology has the potential to solve many of the issues faced by individuals and organizations documenting war crimes. For example, Jaya Klara Brekke, chief strategy officer at Nym — a platform powered by the Cosmos blockchain that protects the privacy of various applications — told Cointelegraph that Nym is developing a tool known as AnonDrop that will allow users to securely and anonymously upload data. She said:“The intention is for AnonDrop to become a tool that democratizes the gathering of evidence that can be used to pursue human rights cases. In the current climate in Ukraine, this would be particularly important for the purpose of securely documenting and sharing evidence of war crimes anonymously.”“The core technology of Nym is a mixnet, which takes data from ordinary users and mixes it together using encryption to make everything look identical. It protects against people watching the network, along with metadata surveillance and IP tracing,” she elaborated. While Nym provides an anonymity layer to allow users to transmit data without revealing who they are, information then gets stored on the decentralized storage network, Filecoin. Will Scott, a software engineer at Protocol Labs — a company working with Filecoin on its decentralized storage solution — told Cointelegraph that some of humanity’s most important information is stored on Filecoin to ensure that data remains publicly available. Recent: Are decentralized digital identities the future or just a niche use case?A blockchain network combined with decentralized storage could be a critical tool for documenting war crimes since it allows individuals in regions like Ukraine to anonymously report, share and retain data. A Wall Street Journal article published in May 2022 stated that “Prosecutors say that, with Russian forces having occupied so much of the country, it is impossible to process all of the evidence of every potential war crime.” Moreover, Ahmed Ghappour, Nym general counsel and associate professor of law at Boston University, told Cointelegraph that it’s becoming critical for witnesses of human rights violations to come forward without fear of retaliation. He said: “In Ukraine, where witnesses of war crimes are facing a technologically sophisticated adversary, network level anonymity is the only way to guarantee the safety and security needed to provide evidence to prosecute perpetrators.” A work in progressAlthough the potential behind AnonDrop is evident, Klara Brekke noted that the solution is still in its early development stages. “We took part in the Kyiv Tech Summit Hackathon this year hoping to find individuals who could help us extend AnonDrop’s functionality. For instance, AnonDrop’s user interface is not fully up yet and we still need to find a way to verify the authenticity of images uploaded to the network,” she explained. Ghappour elaborated that verification is the next critical requirement for making sure evidence uploaded to the Nym network can be used in court. “I think one of Russia’s greatest strengths in this war is the region’s ability to deny that any evidence is valid. Russia’s use of deepfakes and misinformation is another strength. We need to guard against these attacks.” In order to combat this, Ghappour mentioned that image providence features must be implemented within AnonDrop to enable easy verification when documents are examined in a court of law. Even though such processes for image verification currently exist through tools like SecureDrop — a solution that allows individuals to upload photos anonymously for media outlets to use — Ghappour believes that these are limited to siloed organizations. “We want to take image verification a step further by democratizing the process, ensuring this feature is available to users rather than just media outlets.” Once image providence is implemented, verifying war crimes could become easier for court officials. Brittany Kaiser, a human rights legal expert, told Cointelegraph that she believes such a tool could help advance the human rights documentation space, where often individuals feel too at risk to submit findings themselves. “Through images alone, it is possible to verify typical indicators of atrocity crime, including, but not limited to, mass graves, torture marks, binding of hands, executions and other violations of international human rights law that amount to war crimes or other atrocity classifications,” she remarked. Given the potential for this use case, it shouldn’t come as a surprise that AnonDrop isn’t the only blockchain application focused on the preservation and verification of war crimes. Starling Labs — a Stanford-based research lab focused on data integrity using cryptography and decentralized web protocols — is also using blockchain technology to report war crimes. However, verifying the integrity of data remains the biggest challenge for both Nym and Starling Labs, even with image providence in place. For instance, Scott pointed out that progress must be made in order to make sure images are legitimate and that verification works well. He further remarked that access to the internet in various regions of Ukraine is censored: “There are distribution questions that are important to consider here.” Recent: Vietnam’s crypto adoption: Factors driving growth in Southeast AsiaChallenges aside, it’s notable that organizations responsible for prosecuting war crimes are considering using technology to help advance traditional processes. For example, The International Criminal Court (ICC) in The Hague noted in its strategic plan for 2016 to 2018 that it could “support the identification, collection and presentation of evidence through technology.” The report further noted that the ICC is interested in developing partnerships with non-governmental organizations and academic institutions to facilitate the use of technological advancements for war crime documentation. In the meantime, Ghappour emphasized that Nym will continue to push forward with enabling AnonDrop to be used in regions like Ukraine: “Russia has prolonged wars in the past, so we need to progress with this project no matter what.”Continue Reading