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Gracie Point Issues $75 Million in Preferred Equity to Fund Continued Global Growth and Acquisitions

NEW YORK, Sept. 17, 2021 /PRNewswire/ — Gracie Point Holdings, LLC (“Gracie Point”), a leading global provider of life insurance premium finance, announced today it closed a $75 million issuance of preferred equity. Lead investors were affiliated with Hudson Structured Capital Management Ltd. (doing its re/insurance business as HSCM Bermuda), which has been a long-term […]

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MINISO Group Files Annual Report on Form 20-F for Fiscal Year 2021

GUANGZHOU, China, Sept. 17, 2021 /PRNewswire/ — MINISO Group Holding Limited (NYSE: MNSO) (“MINISO”, “MINISO Group” or the “Company”), a fast-growing global value retailer offering a variety of design-led lifestyle products, today filed with the U.S. Securities and Exchange Commission its annual report on Form 20-F for the fiscal year ended June 30, 2021. The […]

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Oakland Impact Investment Fund Launches First-of-its-kind Seed Capital Product; Deploys $300,000 to Accelerate Bay Area Small Businesses

OAKLAND, Calif., Sept. 17, 2021 /PRNewswire/ — ICA is excited to announce that six local companies are the first-ever recipients of a brand new, responsively-designed, entrepreneur-friendly seed capital investment product by ICA. ICA has deployed a total of $300,000 in equity investments in support of our mission of closing the racial and gender wealth gaps.  Continue […]

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FSU College Of Business Ranks No. 1 For Dr. William T. Hold/the National Alliance Program In Risk Management And Insurance

TALLAHASSEE, Fla., Sept. 17, 2021 /PRNewswire/ — Florida State University College of Business undergraduate Risk Management/Insurance Program is ranked No. 1 in the country, by U.S. News & World Report’s “Best Colleges 2022 Guidebook,” released Monday. The college’s Dr. William T. Hold/The National Alliance Program in Risk Management and Insurance stands as the top-ranked program for […]

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PlanSeek Intelligent Medicare Solutions Launches Diversity and Color

NEW YORK, Sept. 17, 2021 /PRNewswire/ — PlanSeek® Intelligent Medicare Solutions™ (www.planseek.com) announced the launch of its Diversity and Color (www.diversityandcolor.com) initiative aimed to help mitigate disparity in the healthcare space. Through Diversity and Color, PlanSeek aims to identify, train, and support people of diverse backgrounds who would like to become Medicare health insurance agents […]

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Bitcoin-based security token offering approved in Germany

German financial regulators have approved a security token offering (STO) based on a Bitcoin (BTC) sidechain.Germany’s Federal Financial Supervisory Authority (BaFin) has greenlighted the EXOeu token by game publisher Exordium, making local retail investors eligible to participate in the sale on Stokr, a major European digital marketplace.German investors can invest in EXOeu via Stokr with a minimum investment amount of $100. EXOeu is the second STO ever approved for the German market on Stokr after BaFin approved an STO by parking network ParkinGO last year.Launched in January 2021, the EXOeu security token is raising funds for the development of Samson Mow’s sci-fi MMO game Infinite Fleet. The offering has been available for investors in other European countries lik France, Luxembourg, Spain, Portugal, raising more than $7 million to date.While many STOs are based on the Ethereum blockchain, the EXOeu token is issued via Blockstream Amp, a platform for tokenizing securities built on the Liquid sidechain of Bitcoin.“Bitcoin is shaping payments, and it’s about time it shaped capital markets — this can be done via layer two technologies,” Stokr co-founder Arnab Naskar said, adding that Ethereum is “losing its charm” as an STO platform due to high gas fees and the uncertainty around Ethereum 2.0.Related: Bitfinex launches security token platform regulated in KazakhstanAccording to Stokr co-founder Tobias Seidl, BaFin’s approval of Exordium’s STO marks a new milestone in cross-border blockchain-based STOs. “We see Bitcoin as a fundamental backbone of the future capital markets, which will be built on blockchains,” he said.The news comes shortly after major crypto exchange Bitfinex announced last week that it would debut its own STO trading platform with Exordium (EXO) trading.

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Bitcoin sees ‘quite healthy’ consolidation on $200M BTC options expiry day

Bitcoin (BTC) ranged around $48,000 on Friday as hopes of a bull run endured thanks to low supply and upcoming corporate disclosures.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewAnticipation builds for cross-crypto breakoutData from Cointelegraph Markets Pro and TradingView showed BTC/USD continuing to consolidate into Friday, with the latest options expiry now due.The pair had made little progress since bouncing off $47,000 the day before, but bullish expectations among analysts were also firmly intact.As Cointelegraph reported, these revolve around a “supply squeeze” driving prices up — a combination of increased demand while long-term holders already own almost 80% of the supply.“Keep in mind alt supply, and ETF season ahead likely to be key drivers + disclosures,” trader Pentoshi noted as part of comments on the BTC price outlook.Cointelegraph contributor Michaël van de Poppe was similarly cool about current market activity.“I don’t think you should worry about the market consolidating here. Quite healthy,” he summarized on the day. “Altcoins still rocking. Great months to come in crypto.”A look at buy and sell levels on major exchange Binance confirmed resistance beginning at $48,600, this having crept lower during the consolidation. Buy interest, meanwhile, still lay at $44,000.BTC/USD buy and sell levels (Binance) as of Sept. 17. Source: Material Indicators“Bullish but cautious”Calmer conditions on derivatives platforms likewise cooled concerns over a repeat of last week’s major sell-off. Related: New Bitcoin price model suggests BTC won’t go below $39K againWhen Bitcoin lost $10,000 in a single day, overleveraged trading saw a wipe-out, and leverage has since stayed considerably lower.Slightly positive funding rates suggest that the market is much better positioned for sustainable upside — bullish, but without irrationality.“Traders in Bitcoin futures markets remain reasonably bullish with a positive funding rate returning to perpetual swap contracts,” Yann Allemann and Jan Happel, co-founders of on-chain analytics firm Glassnode, commented on an accompanying chart. “Note how funding rates are positive, but not up to the same level as before the $10k sell-off last week The Bitcoin market is bullish, but cautious.”Bitcoin futures funding rates annotated chart. Source: Yann & Jan/Twitter

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Shanghai Man: China’s version of McJob meme, eCNY airdrops, Canaan’s record revenue

This weekly roundup of news from Mainland China, Taiwan, and Hong Kong attempts to curate the industry’s most important news, including influential projects, changes in the regulatory landscape, and enterprise blockchain integrations.Regulatory noiseIn this week’s column, the Man in Shanghai is determined to squeeze all of the regulatory noise into one section, so as not to waste too much of your time. Let’s begin. It wasn’t much, just a warning from the Hebei Provincial government to announce it would put an end to cryptocurrency mining in the region. This is largely a non-story, since it’s essentially just restating a national level policy that went into effect months ago. Hebei was never much of a mining stronghold anyway, so the announcement is more procedural than anything else. Mining operations will continue to move overseas while China goes through its unified push to become carbon neutral. For reference, China has 23 provinces, and close to half have already restated their commitment to the national policy by announcing that cryptocurrency mining would not be tolerated.The Securities Times, a state-owned publication, ran a story warning the public about the bubble surrounding NFTs. This Shenzhen-based publication questioned the real economic value of NFTs, a topic that many of us have all wondered about at times. Still, the suspicion hasn’t stopped the trend from spilling into less mainstream art circles, where NFT and metaverse-related events are becoming more and more popular.Selling shovels in a gold rushWhile mining in China might be difficult, manufacturing mining machines is continuing to be quite profitable. Canaan, one of the world’s largest manufacturers of cryptocurrency mining hardware, announced its highest quarterly profits to date. The company’s Q2 financials showed that the company recorded over about $167.5 million in total net revenue. This was likely driven by the sharp increase in prices this spring, leading to aggressive expansion of mining facilities across the world. The next round of quarterly financials will tell a deeper story, as investors will learn how badly aggressive regulations by China have hurt the industry. Zhang Nangeng, Chairman and Chief Executive Officer of Canaan said:​​“We delivered a remarkable performance in the second quarter of 2021. Despite unexpected regulatory policy dynamics and Bitcoin price volatility, we achieved record-high topline results as we delivered a robust 5.9 million Thash/s of computing power to our clients.”Rounding up the trading spaceVolume remained mostly flat on exchanges like Huobi and OKEx, as it has for the last 12 weeks. The last major spike came during the sell-off in early May, around the time Chinese regulators began their crackdown. Over this time, FTX has seen a strong increase in volume, suggesting that some Chinese users might be connecting to exchanges that haven’t traditionally been a dominant player in the Chinese trading space. FIL remains popular on Huobi, finishing in the top five on Thursday’s 24-hr volume chart. This token has maintained popularity among traders in China, despite being about 50% below its all-time high from earlier this year. ADA, SOL, and DOT were assets that showed up high on OKEx volume charts, which mirrored global volume distributions. Speaking of Solana, Chinese users on Weibo reacted strongly to the network going offline on Wednesday, with some criticizing the network’s decentralization. Discussion broke out about whether Ethereum’s early technical issues were comparable to this event, proving that Solana and Ethereum maxis will disagree in any culture, regardless of the language.Unleashing the eCNYThe central bank digital currency created by the Chinese federal bank is now being pushed out even further, as popular app Meituan is offering roughly $1.50 in eCNY (digital yuan) to users who open a ‘digital wallet’ and use its services.Meituan is most widely known for its bright yellow food delivery service and shared bikes, which can be found on most city streets. The campaign is meant to encourage low-carbon living, and is open to nine pilot cities including Beijing, Shanghai, Shenzhen and Chengdu.The wallet interface is minimalist and allows users to convert, deposit, and transfer the eCNYThe eCNY, which originally was positioned as more of an institutional remittance tool for commercial banks, is now aggressively being pushed towards retail users. Already, large franchises like McDonalds and Zara display eCNY payment signs at point-of-sale counters across the country. The current digital payment space is dominated by WeChat Pay and Alipay, but those two will likely have a hard time holding control of market share if the central government is interested in forcing eCNY into competing applications.  Ironically, Meituan has a special role in Chinese cryptocurrency meme culture. Token holders often joke they will be forced to work in food delivery whenever the market crashes, leading to the meme below.Meituan’s iconic delivery drivers are the source of many crypto-related memes during a market crash.At the end of March, Meituan revealed it had around 570 million users. Other financial apps, including banking apps, have already integrated the wallet services into their products. 

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Finra Knocks BMO Rep Who Charged Commuting Expenses to the Firm

September 16, 2021 by Miriam Rozen | | | Share This ablokhin |stock.adobe.com The Financial Industry Regulatory Authority imposed a $5,000 fine and eight-month suspension based on expense-account related allegations on a no-longer-registered New York City broker with 21-years’ experience, including for prime brokerages, and no prior disclosures on his BrokerCheck record. Finra alleged Anthony […]

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Multimillion-dollar investment rounds spark rallies in Avalanche and Audius

Altcoins continue to book notable gains on Sept. 16 as a slew of celebrity endorsements, major investments and the growing popularity of cross-chain bridges catch investors’ attention.Top 7 coins with the highest 24-hour price change. Source: Cointelegraph Markets ProData from Cointelegraph Markets Pro and TradingView shows that the biggest gainers over the past 24 hours were Audius (AUDIO), Avalanche (AVAX) and Celer Network (CELR). Superstars invest in AudiusThe Audius platform is a decentralized music-sharing and streaming protocol that aims to cut out the middleman from the music industry and allow fans, subscribers and creators to interact with each other directly. According to data from Cointelegraph Markets Pro, market conditions for AUDIO have been favorable for some time. The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.VORTECS™ Score (green) vs. AUDIO price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for AUDIO was in the green for most of the past week and reached a high of 77 on Sept. 14, around 22 hours before the price increased 38% over the next day.The spike in price and trading volume for AUDIO followed the announcement that several well-known musicians including Katy Perry, Nas and The Chainsmokers had taken part in a $5 million strategic funding round for Audius. Avalanche benefits from a $230 million investing roundAvalanche (AVAX) is a layer-one protocol that has been gaining traction in 2021 thanks to its low fee environment and the launch of the “Avalanche Rush” incentive program, which has attracted investors and liquidity from the Ethereum (ETH) network. According to data from Cointelegraph Markets Pro, market conditions for AVAX have also been favorable for some time. VORTECS™ Score (green) vs. AVAX price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for AVAX surged into the green zone on Sept. 13 and reached a high of 86 around 24 hours before the price increased 40% over the next two days. The boost in price and momentum for AVAX comes following the announcement that large funds like Polychain Capital, Three Arrows Capital and Dragonfly Capital participated in a $230 million investment round to the Avalanche ecosystem. Celer Network sees a surge from its bridge to ArbitrumCeler Network is a layer-two scaling solution that uses off-chain transaction handling to help to increase the scalability and the transaction throughput of its network.VORTECS™ data from Cointelegraph Markets Pro began to detect a bullish outlook for CELR on Sept. 14, prior to the recent price rise. VORTECS™ Score (green) vs. CELR price. Source: Cointelegraph Markets ProAs seen in the chart above, the VORTECS™ Score for CELR spiked into the green zone and reached a high of 73 on Sept. 14, just as the price began to increase by 59% over the next two days. The increase in demand for CELR comes as investors use the Celer bridge for token migrations from multiple blockchains, including the newly launched Arbitrum solution. Celer’s bridge also offers users a work-around to the seven-day withdrawal process currently required to remove assets from Arbitrum. The overall cryptocurrency market cap now stands at $2.161 trillion and Bitcoin’s dominance rate is 41.4%.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.

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3 reasons why REN price is up 340% from its July swing low

Interoperability has become one of the driving themes within the crypto market and as the blockchain ecosystem evolves into an interconnected web of layer-one protocols, the importance of communication and efficiency among decentralized applications (dApps) will also increase.Ren (REN), a blockchain protocol designed to provide interoperability and liquidity between different blockchain platforms, has started gaining traction over the past month and a half as activity in the decentralized finance (DeFi) sector has been on the rise. Data from Cointelegraph Markets Pro and TradingView shows that after reaching a low of $00.41 on Aug. 9, the price of REN has climbed 185% to a daily high at $1.16 on Sept. 15 as its 24-hour trading volume spiked 443% to $673 million. REN/USDT 1-day chart. Source: TradingViewThree reasons for the price growth seen in REN include the steadily increasing activity and total value locked on RenVM, the launch of a bridge to Arbitrum and the release of RenVM Greycore on the network’s testnet. Rising volume and total value lockedREN’s bullish momentum can be found in the data for the total network volume and total value locked (TVL).Total network volume and total value locked on Ren. Source: Ren ProjectAs 2021 progressed, new chains were added to the list of bridges supported, which now includes Ethereum, Binance Smart Chain, Solana, Polygon, Fantom, Avalanche and Arbitrum. Each new bridge has helped to increase the volume and TVL on the Ren network, which has coincided with moves seen in REN p. REN price follows the Bridge to ArbitrumThe spike in price seen on Sept. 15 was due, in large part, to the release of the Arbitrum bridge, an Ethereum (ETH) layer-two scaling solution Arbitrum, which is designed to host popular decentralized applications in a fast, low-fee environment. The Ethereum network has been plagued by high fees and delayed transaction times, which have hampered the ability of many users to use DeFi or nonfungible token (NFT) related protocols on the network. Arbitrum’s low-cost environment has proven to be an attractive DeFi environment for BTC holders who are now able to migrate to the layer-two solution and interact on the network with renBTC. The total value locked on Arbitrum via the Ren protocol was $7.75 million as of Sept. 15 and is represented by the green line in the value locked chart above. Related: Solana and Arbitrum knocked offline, while Ethereum evades attackREN marches toward decentralizationA third reason behind the increase in activity for REN was the release of RenVM Greycore on the network’s testnet on Sept. 13, a move that was done as the project works toward its goal of full decentralization. Greycore is a semi-decentralized validator set of nodes that are operated by reputable DeFi projects and it helps to add an additional layer of protection for the protocol. The first project to join Greycore was BadgerDAO, a DeFi project focused on building projects that bring BTC to DeFi. According to data from Cointelegraph Markets Pro, market conditions for REN have been favorable for some time.The VORTECS™ Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and Twitter activity.VORTECS™ Score (green) vs. REN price. Source: Cointelegraph Markets ProAs seen on the chart above, the VORTECS™ Score for REN turned green on Sept. 13 and climbed to a high of 71 on Sept. 14 just as the price of REN began to increase 72% over the next two days. 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.

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UBS Ordered to Pay Houston Investor $358K in ‘YES’ Case

September 16, 2021 Share This A three-person arbitration panel has ordered UBS Wealth Management USA to pay a wealthy Houston investor almost $358,000 in damages tied to a widely marketed options-spread strategy dubbed YES (Yield Enhancement Strategy) that went awry during market volatility, according to an award finalized Wednesday.  The decision is the latest in […]

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Avalanche Foundation raises $230M to support DeFi ecosystem

The Avalanche Foundation has announced a significant $230M investment from a venture capital group spearheaded by Polychain and Three Arrows Capital for the purpose of supporting the growth of the DeFi ecosystem and their ever-expanding list of applications that utilize the blockchain.Since launching in September 2020, Avalanche has cultivated a burgeoning influence on the DeFi landscape, with its smart contracts platform now providing the infrastructure for over 270 industry projects including SushiSwap, Chainlink, Circle, and The Graph, among others.The $230M capital — raised through the private sale of its native token — will be allocated by the foundation across a multitude of use-cases within its blockchain, including “grants, token purchases, and various forms of investments and technology support.”Emin Gün Sirer, director at the Avalanche Foundation, shared his thoughts on platform’s recent advancements and future potential:“Avalanche has quickly turned promise and potential into real-world impact and value creation for DeFi users and developers. The community of builders rallying around the network is a testament to its competitive edge, and there is still so much potential yet to be tapped at the intersection of institutional and decentralized finance on Avalanche.”Data from CoinMarketCap reveals that Avalanche’s native cryptocurrency token AVAX has surged 50% this week, a figure only surpassed by HBAR and CRV in the Top 100 list. This places the blockchain project at the respectable ranking of #13, with a total market capitalization of $14B.Related: Zabu token price flatlines after $3.2M attack on Avalanche blockchainDeFi platform Aave yesterday announced a future community-wide vote on whether the “deployment of smart contracts in Avalanche C-Chain and activation of liquidity mining program” would be beneficial to the collaboration of the two ecosystems.

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BTC takes aim at $50K; Solana goes down; Is ETH ‘sound money’? | Watch The Market Report w/ Charlie Burton

Tune in to watch Cointelegraph host and analyst Benton Yaun alongside resident market experts Jordan Finneseth and Marcel Pechman. Here’s what to expect in this week’s markets news breakdown: Bitcoin (BTC) once again takes aim at $50,000. Is this the final hurdle before all-time highs are within reach?The Solana network was brought down by a sudden surge in transaction volume, while Ethereum evaded a malicious attack. What does this mean for the future of decentralized finance, or DeFi?After Cardano finally launched smart contracts, the price of ADA dropped 10%. Is this a classic case of “sell the news”?Next, Pechman and Finneseth take a dive deep into the most important factors driving the markets in back-to-back expert takes. Join Pechman on a journey through the history of Ethereum. There are a few events that might reveal what Ethereum truly is. Then, Finneseth takes a closer look at alternative next-generation blockchain protocols that are beginning to gain a foothold in the market. Up next, the Cointelegraph experts identify two altcoins that stood out this week, Avalanche’s AVAX and Horizen’s ZEN, using insights from Cointelegraph Markets Pro, a platform for crypto traders who want to stay one step ahead of the market. Finally, be sure to stick around for an exclusive guest interview with veteran trader Charlie Burton, the co-founder of Ezeetrader. The interview will cover recent market movements, trading insights and analysis of crypto’s biggest coins! “The Market Report” streams live every Thursday at 4:00 pm UTC, so be sure to head on over to Cointelegraph’s YouTube page and smash that like and subscribe button for all our future videos and updates.

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Cuba's cryptocurrency regulations take effect

Resolution 215 of 2021 issued by the Banco Central de Cuba (BCC) — the country’s central bank — recognizing cryptocurrencies like Bitcoin (BTC) is now in effect.According to Cuba’s official state news agency Prensa Latina, the order became official on Wednesday.With crypto legally recognized by the BCC, Bitcoin and other cryptocurrencies can now be used for commercial transactions and investments in Cuba.As previously reported by Cointelegraph, the central bank first announced plans to recognize and regulate crypto back in late August.Indeed, Resolution 215 of 2021 contains provisions for a licensing regime for crypto exchanges and other virtual asset service providers operating in Cuba.Despite legalizing the use of crypto assets in Cuba, the BCC has warned of the risks associated with cryptocurrencies.According to the BCC, while crypto operates outside of the nation’s banking system, the use of virtual currencies poses significant monetary policy risks and financial stability concerns.Cuba’s central bank also warned of the potential for bad actors to take advantage of the perceived anonymous nature of crypto transactions for illicit transactions.Related: Sept. 7 is ‘Bitcoin Day’ in El Salvador as BTC becomes legal tenderBy recognizing crypto, Cubans may begin to enjoy easier remittance flows from overseas despite the United States embargo. Global money transfer services like Western Union have largely exited the country under increasing pressure from Washington.Indeed, the country is towing a similar line to El Salvador in embracing Bitcoin amid crippling U.S. sanctions and the economic impact of the COVID-19 pandemic. El Salvador recently became the first country to adopt Bitcoin as legal tender.Crypto interest in Cuba has been high over the last few years with virtual currencies associated with the possibility of financial freedom for many in the country. The recognition of crypto by the BCC could be a major step in transforming Cuba’s cryptocurrency industry as a formal sector of the island nation’s struggling economy.

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Ex-Merrill Superstar Phil Scott Swings and Misses with Expungement Requests

September 16, 2021 Share This Former Merrill Lynch superstar Phil Scott, who last year took his $18 million-producing team in the Seattle suburbs to First Republic, struck out in an attempt to clear his record of three financial crisis-era client disputes. A Financial Industry Regulatory Authority arbitrator denied the 36-year industry veteran’s request to expunge […]

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