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A lot to digest...
Kids ask
Are we there yet?
nope
Wife ask
Hon are we lost?
nope
Dad also says:
We have the best roadmap known to MANKIND!!!
Small cells are widely becoming a necessary component of wireless densification and new 5G networks, particularly in densely populated areas. Over the past decade, small cell deployments have grown almost 400% across U.S. markets, with plans to deploy tens of thousands of new small cells every year. Recent industry reports project small cell deployment to grow by 800% over the next decade.
But the reality tells a much different story of current deployments. Altman Solon’s internal research – which consisted of collecting and mapping small cell locations and permits from many U.S. cities – reveals that small cell growth has been much slower historically than what industry reports have projected due to the regulatory climate, lack of neutral hosts, and limited backhaul. In addition, all of these factors are occurring amid the COVID-19 pandemic, which has created construction availability shortfalls across the wireless communications industry.
While the drivers vary by city and region, our research suggests that regulation and fiber backhaul are the greatest constraints in the market today. Nevertheless, we believe that these barriers will shrink in the future, but likely at a very localized level (i.e., easier permitting in a specific city/state or fiber provider expanding their network).
Dense urban areas, small cell vendors still drive market
Based on our analysis, approximately 70% of all identified small cell nodes are in dense urban and urban areas where data demands are concentrated and most 5G deployments have started. Unsurprisingly, Crown Castle appears to be the leader in third-party small cell deployments. In fact, small cell vendors, like Crown Castle, are registered as the owner/deployer on about 50% of small cells identified, followed by Mobile Network Operators (MNO), which account for approximately 35%.
There is no “one size fits all” small cell regulation
Regulatory challenges continue to be a roadblock to accelerating the small cell activity. While a 2018 Federal Communications Commission’s order attempted to reduce regulatory requirements for small wireless facilities (“90-day-build and 60-day-colocation procedural shot clocks”), local municipalities continue to hold authority over small cell deployment. As of last year, more than one-third of the United States, including many with major markets, had not yet enacted this small cell legislation.
Small cells are popping up outside of urban areas
Optimistic forecasts currently assume small cells proliferate in regions with the “largest number of potential customers.” This would imply a continued focus on deployments in dense urban and urban areas, due to existing infrastructure and high impact to coverage.
While the majority of small cells still exist in dense urban and urban regions, according to Altman Solon analysis, morphologically suburban1 areas are seeing almost equal small cell deployments to dense urban areas. In fact, 2019 and 2020 saw the highest small cell deployment to date in suburban areas.
Still, deployment patterns across markets are largely erratic. Over time, small cell installations have a “lumpiness,” or develop multiple peaks and valleys in the pace of deployment following a lag of regulatory changes that typically follow existing process changes and/or new process implementations.
Small cell markets across the U.S. can be segmented by their current stage of deployment:
Populous metropolitan cities such as New York, Boston, and Chicago have had small cells deployed for at least 4 to 5 years, established franchise agreements with major carriers, and tend to be dense urban or urban populations. These are typically the leaders in small cell growth in the U.S.
Growth locations such as Boulder or Fort Worth – mid-size population densities often with deployments in a “Central Business District” – also have a few (3-5) years of small cell history though currently established processes and are continuing to evolve and mature.
Early-stage areas of suburbia, where small cells and outdoor Distributed Antenna Systems (DAS) are proliferating, such as Montgomery County, MD.
https://www.altmansolon.com/insights/the-suburban-migration-new-mapping-analysis-reveals-surprising-u-s-small-cell-growth/#:~:text=Over%20the%20past%20decade%2C%20small,800%25%20over%20the%20next%20decade.
The small cell 5G network market size is expected to grow from USD 626 million in 2020 to USD 2,413 million by 2025, at a Compound Annual Growth Rate (CAGR) of 31.0% during the forecast period.
North America to account for the largest market size during the forecast period.
The global small cell 5G network market by region covers 5 major geographic regions, namely, North America, Asia Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. North America is estimated to account for the largest market size during the forecast period. North America is an eminent leader in adopting advanced technologies. Operators across North America are expected to deploy small cell solutions on their 5G mobile infrastructures; for example, AT&T, Verizon, Sprint, and T-Mobile have shown positive approach toward commercializing 5G networks. These operators have signed billion-dollar deals with network equipment providers, such as Nokia, Samsung, Ericsson, Huawei, and ZTE, to build up their 5G network infrastructure.
Key Market Players
Key players and innovating vendors in the global small cell 5G network market include Ericsson (Sweden), Huawei (China), ZTE (China), Cisco (US), NEC (Japan), Nokia (Finland), CommScope (US), Airspan Networks (US), ip.access (UK), Corning (US), Fujitsu (Japan), Samsung (South Korea), Comba Telecom (Hong Kong), Contela (South Korea), Baicells Technologies (US), Acceleran (Belgium), Accuver (US), Casa Systems (US), CommAgility (England), Radisys (US), Altiostar (US), Siradel (France), Qualcomm (US), Octasic (Canada), PC-TEL (US), and Microsemi (US). These players have adopted various strategies to grow in the global small cell 5G network market. They have adopted organic and inorganic growth strategies, such as new product launches, acquisitions, business expansions, and partnerships, to expand their business reach and drive their business revenue growth. Moreover, various small cell 5G network providers are adopting different strategies, including venture capital funding, funding through Initial Coin Offering (ICO), new product launches, acquisitions, and partnerships and collaborations, to expand their presence in the global small cell 5G network market.
https://www.marketsandmarkets.com/Market-Reports/small-cell-market-216204568.html#:~:text=Key%20players%20and%20innovating%20vendors,Networks%20(US)%2C%20ip.
WILLIAM R. ALESSI, JR.
Plaintiff
v.
TECHCOM, INC. f/k/a *************************STIPULATION OF VOLUNTARY
RMD ENTERTAINMENT GROUP INC********DISMISSAL WITH PREJUDICE
Defendant
PLEASE TAKE NOTICE that the parties, by and through their undersigned
counsel, hereby stipulate to the voluntarily dismissal of all claims asserted between them in this action with prejudice, pursuant to Rule 41(a) of the North Carolina Rules of Civil Procedure, with each party to bear its own attorney's fees and costs.
This the 19th of May, 2022.
/s/ Jeffrey A. Long (with permission)
Jeffrey A. Long, NCSB #28645
BRAY & LONG, PLLC
Attorney for Plaintiff
/s/ Molly A. Whitlatch
Pamela S. Duffy, NCSB #18329
Molly A. Whitlatch, NCSB #34137
SHARPLESS McCLEARN LESTER DUFFY, PA.
Attorneys for Defendant
Case No.2022CVS3820 ECF No. 13 Filed 05/19/2022 09:55:20 N.C. Business Court
Why would a case be dismissed with prejudice?
A case that is “dismissed with prejudice” is completely and permanently over. A case will be dismissed with prejudice if there is reason for the case not to be brought back to court; for example, if the judge deems the lawsuit frivolous or the the matter under consideration is resolved outside of court.
Good background information on Crypto Mining in the UAE.
Video is in Arabic however CC in english.
https://www.cointribune.com/en/columns/the-mining-column/crypto-girl-power-exclusive-interview-with-sarah-ceo-of-the-most-profitable-bitcoin-btc-mining-farm-in-the-world/
From the stock purchase agreement:
6.7 Remain in Compliance. For a period of 12 months following the Closing, Purchaser shall cause the Company to timely file all reports required to be filed pursuant to Section 15 or 13 of the Securities Exchange Act of 1934, as amended (the ?Exchange Act?), including compliance with XBRL so that the holders of the Company?s common stock can utilize the exemption from the registration requirements of the Securities Act of 1933, as amended (the ?Securities Act?) provided by Rule 144 promulgated thereunder.
8.2 Notices. All notices or other communications required or permitted hereunder shall be in writing shall be deemed duly given (i) if by personal delivery, when so delivered, (ii) if mailed, three (3) business days after having been sent by registered or certified mail, return receipt requested, postage prepaid and addressed to the intended recipient as set forth below, (iii) if sent through an overnight delivery service in circumstances to which such service guarantees next day delivery, the day following being so sent to the addresses of the parties as indicated on the signature page hereto or (iv) on the date received by email to the addresses set forth below. Any party may change the address to which notices and other communications hereunder are to be delivered by giving the other parties notice in the manner herein set forth.
https://fintel.io/doc/sec-alphabit-llc-1481443-sc-13d-2021-july-30-18841-6217
10K will be delivered.
Cypher Capital, going big with $100mm crypto/blockchain fund
https://neuemarkets.com/2022/03/23/cypher-capital-going-big-with-100mm-crypto-blockchain-fund/
23 March 2022
Cypher Capital, a private venture capital firm rooted in the UAE and MENA region, announced today the launch of one of the region’s biggest seed funds. The USD100 million seed fund will focus on investments in blockchain, crypto and other digital asset projects who have genuine value propositions.
“We are very proud and honored to be launching our first and the biggest crypto, digital asset and blockchain private seed fund from the UAE and the Middle East Region,” said Bijan Alizadeh, Founder and General Partner at Cypher Capital. Bijan is an experienced crypto and blockchain investor with more than 60 projects under his belt and a strong track record of spearheading blockchain and crypto adoption.
“This fund reflects our vision to be the leading global partner for projects in the blockchain, crypto and the digital asset community. We will collaborate closely with our portfolio projects, offering them access to our network and equipping them with our knowledge, as well as investing alongside other venture capital partners into innovative blockchain, crypto and digital asset projects,” added Bijan.
Cypher Capital will take an Cypher Capital also plans to take a very hands-on approach when it comes to mentoring the projects that it invests in and equipping entrepreneurs with the tools they need to succeed. Its 10,000 square foot crypto, blockchain and digital asset hub, under construction in JBR Dubai, is anticipated to be completed in August 2022, which will welcome crypto enthusiasts, entrepreneurs and startups, and be “the place to be” offering exclusive access and get-togethers for its members and the community.
Cypher Capital will take an entrepreneurial approach to building its portfolio and will focus on seed funding, but taking stakes in GPs and LPs as part of its value proposition as well.
Cypher Capital has already invested USD1.5 million into Crypto Oasis Sentio, showcasing its belief that cooperating with other private venture capital funds builds the blockchain ecosystem. “We aim to cooperate with and expand the ecosystem by working with visionary innovators, outstanding talent and other venture capital partners to create a holistic blockchain community with will in turn, foster the growth of the ecosystem,” commented Bijan.
Bijan has his sights set on making Cypher Capital an industry leader by working alongside other industry leaders, innovators and people with a vision.
Cypher Capital also plans to take a very hands-on approach when it comes to mentoring the projects that it invests in and equipping entrepreneurs with the tools they need to succeed. Its 10,000 square foot crypto, blockchain and digital asset hub, under construction in JBR Dubai, is anticipated to be completed in August 2022, which will welcome crypto enthusiasts, entrepreneurs and startups, and be “the place to be” offering exclusive access and get-togethers for its members and the community.
Vineet Budki, Managing Partner of Cypher Capital adds, “We have the knowledge and expertise to mentor projects and entrepreneurs and equip them with the tools they need for success. At the moment we are especially interested in projects in the DeFi (decentralized Finance), GameFi, and metaverse space but we are always on the lookout for innovative blockchain projects in general.”
According to Crunchbase data, pure venture funding—pre-seed, seed and all venture rounds—in the cryptocurrency space, is already at USD3.4 billion after just the first two months of 2022. A PWC report revealed that USD34 billion was raised by crypto companies globally in 2021.
Bijan Alizadeh already has a strong track record of investing in successful crypto and blockchain startups, some of the names of which include ACDX, a next-generation cryptocurrency derivatives trading platform, the Graph, an indexing protocol for querying networks that offer APIs, Near Protocol, an open source platform that accelerates the development of decentralized apps, Skale, an open source Web3 platform intended to bring speed and configurability to the blockchain and CasperLabs which provides enterprise solutions on Casper, an open source blockchain optimized for enterprise and developer adoption.
Cypher Capital is also working diligently to ensure that the blockchain ecosystem is an environmentally friendly and sustainable industry. One of its initiatives for doing this includes working closely with One Tree Planted, a 501 charity with a mission to help global reforestation efforts and offset carbon emissions, building a greener planet.
“We are stronger as a collective than as a single unit. It is together that we can make a difference. That is why Cypher Capital is not only building its own success, but looking to help others succeed with it, emparting knowledge onto the community and partnering with strong industry leaders to make a dramatic difference and disrupt the blockchain space,” Bijan stated. The Cypher Capital investment team are working around the clock to find the best crypto, blockchain and digital asset projects for Cypher Capital to work with. Various investments have already been made.
As of March 16, 2022, the Registrant had 7,129,778 shares of common stock, par value $0.001 issued and outstanding.
On February 18, 2022 we entered into a research agreement with the Arizona Board of Regents on behalf of the University of Arizona (the
“University of Arizona”). Pursuant to the research agreement, the University of Arizona agreed to use reasonable efforts to perform a research project focused on determining the in vivo safety, pharmacokinetics, and dose selection properties of three University of Arizona owned PLpro inhibitors, followed by efficacy testing in mice infected with SARS-CoV-2, in consideration for certain milestone payments to be made by the Company. Under the agreement, the University of Arizona granted the Company a first option to negotiate for a commercial, royalty-bearing license for all intellectual property invented or authored by University of Arizona personnel under the research project.
Adva-27a Anticancer Drug
Since inception, our proprietary drug development activities have focused on the development of a small molecule called Adva-27a for the treatment of aggressive forms of cancer. A Topoisomerase II inhibitor, Adva-27a has been shown to be effective at destroying Multidrug Resistant Cancer cells including Pancreatic Cancer cells, Breast Cancer cells, Small-Cell Lung Cancer cells and Uterine Sarcoma cells (Published in ANTICANCER RESEARCH, Volume 32, Pages 4423-4432, October 2012). Sunshine Biopharma is direct owner of all issued and pending worldwide patents pertaining to Adva-27a including U.S. Patents Number 8,236,935 and 10,272,065.
Adva-27a is a GEM-difluorinated C-glycoside derivative of Podophyllotoxin (see Figure 1). Another derivative of Podophyllotoxin called Etoposide is currently on the market and is used to treat various types of cancer including leukemia, lymphoma, testicular cancer, lung cancer, brain cancer, prostate cancer, bladder cancer, colon cancer, ovarian cancer, liver cancer and several other forms of cancer. Etoposide is one of the most widely used anticancer drugs. Adva-27a and Etoposide are similar in that they both attack the same target in cancer cells, namely the DNA unwinding enzyme, Topoisomerase II. Unlike Etoposide however, Adva-27a is able to penetrate and destroy Multidrug Resistant Cancer cells. Adva-27a is the only compound known today that is capable of destroying Multidrug Resistant Cancer. In addition, Adva-27a has been shown to have distinct and more desirable biological and pharmacological properties compared to Etoposide. In side-by-side studies using Multidrug Resistant Breast Cancer cells and Etoposide as a reference, Adva-27a showed markedly greater cell killing activity (see Figure 2).
These and other preclinical data have been published in ANTICANCER RESEARCH, a peer-reviewed International Journal of Cancer Research and Treatment. The publication which is entitled “Adva-27a, a Novel Podophyllotoxin Derivative Found to Be Effective Against Multidrug Resistant Human Cancer Cells” [ANTICANCER RESEARCH 32: 4423-4432 (2012)] is available on our website at www.sunshinebiopharma.com. Information on our website is not part of this report.
We have been delayed in our clinical development program due to lack of funding. Our fund raising efforts are continuing and as soon as adequate financing is in place we will continue our clinical development program of Adva-27a by conducting the following next sequence of steps:
· GMP Manufacturing of 2 kilogram for use in IND-Enabling Studies and Phase I Clinical Trials
· IND-Enabling Studies
· Regulatory Filing (Fast-Track Status Anticipated)
· Phase I Clinical Trials (Pancreatic Cancer Indication)
Adva-27a’s initial indication will be pancreatic cancer for which there are currently little or no treatment options available. We are planning to conduct our clinical trials at McGill University’s Jewish General Hospital in Montreal, Canada. All aspects of the clinical trials in Canada will employ FDA standards at all levels.
Employees
As of the date of this report, we have three employees, comprised of our management team. Presently, most of our development and marketing activities are subcontracted out to specialized service providers. As our business activities expand, we anticipate that we will need additional employees in the areas of accounting, regulatory affairs, marketing, sales and laboratory personnel.
Additional stock offerings in the future or the issuance of stock upon exercise of outstanding warrants may dilute then-existing shareholders’
Given our plans and expectations that we will need additional capital and personnel, we anticipate that we will need to issue additional shares of common stock or securities convertible or exercisable for shares of common stock, including convertible preferred stock, convertible notes, stock options or warrants. In addition, as of March 16, 2022, we have 7,355,352 shares of common issuable upon exercise of outstanding warrants with an exercise price of $2.22, subject to adjustment, and 1,302,251 shares issuable upon exercise of pre-funded warrants at a nominal exercise price of $0.001. The issuance of additional securities in the future will dilute the percentage ownership of then current stockholders.
As of January 31, 2022, there were approximately 147 holders of record of our common stock.
Liquidity and Capital Resources
As of December 31, 2021, we had cash and cash equivalents of $2,045,167.
On February 17, 2022, we completed an underwritten public offering of common stock and warrants for gross proceeds of $8 million. We received net proceeds of approximately $6.8 million from the offering.
On March 14, 2022, we completed a private placement of common stock and warrants for gross proceeds of $8 million. We received net proceeds of approximately $6.8 million from the private placement.
Note 10 – Subsequent Events
On March 16, 2022, the Company issued 350,452 shares upon exercise of warrants with an exercise price of $2.22.
It was truly a proud moment for Bijan Alizadeh (Founder & Partner, Cypher Capital) to receive “Investor of the Year”.
Thank you to everyone who voted and to the AIBC summit for making this possible.
https://twitter.com/cypher_capital/status/1505810785892712448/video/1
@AIBCsummit keynote speeches at the GameFi Lounge, sponsored by Cypher Capital.
Come and listen to the keynote speech of Bijan Alizadeh (Founder & Partner, Cypher Capital), “Introducing Cypher Capital - self-funded $100Mn company dedicated to supporting Web 3.0 projects”.
BIJAN ALIZADEH (Founder & Partner, Cypher Capital) Bijan is one of the leaders in the blockchain ecosystem in the Middle East and is the co-founder of Phoenix Technology, which is building one of the biggest Bitcoin mining farms in the UAE and has 450 MW of operational mining farms across…
Yep
5.14 Tax Returns. The Company has timely filed all state, federal or local income and/or franchise tax returns required to be filed by it from inception to the date hereof. Each of such income tax returns reflects the taxes due for the period covered thereby. All taxes of the Company which are (i) shown as due on such tax returns, (ii) otherwise due and payable or (iii) claimed or asserted by any taxing authority to be due, have been paid, except for those taxes being contested in good faith and for which adequate reserves have been established in the financial statements included in the financial statements in accordance with GAAP. There are no liens for any taxes upon the assets of the Company, other than statutory liens for taxes not yet due and payable. There are no proposed or threatened tax claims or assessments against the Company.
https://sec.report/Document/0001683168-21-003194/ex9901.htm
Form 10-K
Filing Date Feb 23, 2022
Document Date Dec 31, 2021
Form Description Annual report which provides a comprehensive overview of the company for the past year
Filing Group Annual Filings
Company Outset Medical, Inc.
Issuer Outset Medical, Inc.
https://investors.outsetmedical.com/sec-filings/sec-filing/10-k/0000950170-22-001769
https://investors.outsetmedical.com/node/8186/html
Outset Medical to Present at 42nd Annual Cowen Health Care Conference
SAN JOSE, Calif.--(BUSINESS WIRE)--Feb. 22, 2022-- Outset Medical, Inc. (Nasdaq: OM) (“Outset”), a medical technology company pioneering a first-of-its-kind technology to reduce the cost and complexity of dialysis, today announced that members of management will participate in a fireside chat at the 42nd Annual Cowen Health Care Conference on Tuesday, March 8, 2022 at 11:50am PT / 2:50pm ET.
A live and archived webcast of the fireside chat will be available on the “Investors” section of the Outset website at https://investors.outsetmedical.com/.
About Outset Medical, Inc.
Outset is a medical technology company pioneering a first-of-its-kind technology to reduce the cost and complexity of dialysis. The Tablo Hemodialysis System, FDA cleared for use from the hospital to the home, represents a significant technological advancement that transforms the dialysis experience for patients and operationally simplifies it for providers. Tablo serves as a single enterprise solution that can be utilized across the continuum of care, allowing dialysis to be delivered anytime, anywhere and by anyone. The integration of water purification and on-demand dialysate production enables Tablo to serve as a dialysis clinic on wheels, with 2-way wireless data transmission and a proprietary data analytics platform powering a new holistic approach to dialysis care. Tablo is a registered trademark of Outset Medical, Inc.
https://investors.outsetmedical.com/news-releases/news-release-details/outset-medical-present-42nd-annual-cowen-health-care-conference
UAE Phoenix Tech building the Biggest crypto mining farm in the Globe
UAE Phoenix Technologies has embarked on a 2 billion USD crypto mining farm in the UAE. This will be the biggest site in the globe. Bijan Ali Zadeh Fard, Partner at Cypher Capital and Co-founder of Phoenix Tech told Irina Heaver General Partner at Ikigai Ventures in a video interview on the eve of AIBC Summit, “We started through UAE based Phoenix Tech in the crypto mining scene since 2015 and recently we have embarked on the biggest crypto mining project in the UAE. This began with the investment of 615 million USD in crypto mining equipment from Bitmain for a 650 Megawatts facility in the UAE as a first phase. The entire project will be totaled at 2 billion USD investment making it the the single biggest crypto mining site in the world.”
Fard also explained that they will be expanding the crypto mining ecosystem to other areas in the MENA region in partnership with Bitmain Technology provider. The project in the UAE should be finalized within the next 6 months.
Phoenix Tech is utilizing the latest technology from Bitmain which includes evaporative water coolers. He states, “We have tested the water cooler equipment at 60 degree Celsius and they worked well. This is much more efficient as we utilize water at normal temperature in evaporative chillers. This is the first time this technology will be deployed and we are happy to be doing this here in the UAE.”
Fard as one of the founders of Phoenix Tech, is working to put the MENA region on the map as a dominant player in the Bitcoin mining ecosystem. He explains, “We are working to have 7 percent of the total Bitcoin Hashrate globally from the UAE, and later on have 25 percent of Bitcoin Hashrate globally from the MENA region. Fard discusses that if another scenario as per the likes of China or Russia should happen this would not affect the Bitcoin mining sector as it did last time.
In terms of energy utilization of Bitcoin mining Fard states, “The argument that Bitcoin mining is boiling the oceans is out of the table, that news is not always right. Today more than 90 percent of big miners are using green energy, and Bitcoin mining only makes up 0.5 percent to 1 percent of energy utilization globally.” Phoenix Tech Crypto mining farm in the UAE is 100 percent green says Fard.
The UAE government has offered Phoenix Tech crypto mining farm subsidized tariffs on electricity. As Fard states, “ In the future we want to sell the hashrate back to the community and people of the Middle East as we plan to build a blockchain city.”
When it comes to Cypher Capital, a fully owned entity founded by Bijan Ali Zadeh Fard himself, the entity is investing in Blockchain projects. As per Fard Cypher Capital has a 100 million USD fund aimed at seed investing in Blockchain projects.
UAE Cypher Capital is also building a 10,000 square feet Hub in Dubai UAE to offer Blockchain and crypto startups support, whether it is financial, legal, licensing, or event consulting support. Fard adds, “We have been investing in this ecosystem for four years, and now we are building this hub which should be completed in the next four months. We believe the only way to grow the blockchain ecosystem is to have an educated community who invest wisely. Our next stop is Singapore.”
Fard is a true believer in Bitcoin. He started mining in 2015 when Bitcoin was just 257 USD. He believe that the future is in DeFi, GameFi and the metaverse. He ends, “ We think all should be careful into which projects they invest in when it comes to DeFi, GameFi, and the metaverse but we will be looking at seed investments into these and other businesses.”
UNLOCK had previously interviewed Mr. Munaf Ali, CEO and Co Founder of Phoenix Technology when they first announced their crypto mining farm project in the UAE.
https://www.unlock-bc.com/84610/uae-phoenix-tech-building-biggest-crypto-mining-farm-in-the-globe/
Inside the Chess Match That Led to the Recovery of $3.6 Billion in Stolen Crypto
https://www.msn.com/en-us/news/us/inside-the-chess-match-that-led-to-the-recovery-of-3-6-billion-in-stolen-crypto/ar-AATGVeN
It’s the biggest financial seizure in the history of the U.S. Department of Justice: $3.6 billion in Bitcoin that the government says was stolen in a massive hack in 2016.
The announcement on Tuesday by federal law enforcement and prosecutors revealed a six-year chess match to find the culprits behind the theft of 119,754 Bitcoin from the cryptocurrency exchange Bitfinex. The proceeds—worth $72 million then, but $4.5 billion now—were siphoned from users’ accounts into a single crypto wallet.
For years, most of the money sat in that wallet untouched. But, once the currency slowly began to move out of the wallet and into the traditional banking system, investigators were able to start tracing the transactions to people in the real world. On Tuesday, a married couple in New York, Ilya Lichtenstein and Heather Morgan, age 34 and 31, were arrested and charged with conspiracy to commit money laundering and conspiracy to defraud the United States.
The anatomy of Lichtenstein and Morgan’s alleged money laundering scheme—and how they got caught—is a cautionary tale in an era of rapid blockchain ascendancy. To get better insight into what happened, TIME spoke with two crypto security experts: Ari Redbord, the head of legal and government affairs at TRM Labs, a cryptocurrency regulatory startup; and Tom Robinson, a co-founder of the Blockchain analytics company Elliptic. Together, along with details in government affidavits they paint a picture of a crypto-savvy couple trying to stay one step ahead of the law and constant advances in blockchain tracking and security. Eventually, the painstaking detective work of government officials, and the innate transparency of the blockchain and its lack of red tape led to the arrests. “The problem with laundering cryptocurrency is if you make a mistake five years ago, that’s still on the blockchain for everyone to see,” Robinson says.
The hack
In the mid-2010s, Bitcoin became a tool for drug dealers, tax evaders, libertarians, and speculators alike to move money across the world outside of the watchful eye of traditional financial institutions. While the currency’s decentralized, unregulated nature was part of its appeal for many, those very traits also made the currency susceptible to attacks. The very first Bitcoin exchange, Mt. Gox, collapsed in 2014 after hackers exposed security loopholes and made off with $500 million in cryptocurrency.
In 2016, Bitfinex—one of the largest cryptocurrency exchanges at the time—suffered its own security breach. Some 2,000 transactions were approved from users’ accounts, sending the Bitcoin to one wallet. (A wallet is something like a decentralized bank account for cryptocurrency; they are unique to each user, but don’t have to be linked to a person’s real-world identity.) The hack upended the entire crypto ecosystem, with the value of Bitcoin plunging about 20% within hours.
It’s worth noting that neither Lichtenstein nor Morgan are accused of perpetrating the actual hack. “It’s potentially more difficult to prove the hack,” Redbord, who himself worked at the Attorney General’s office for 11 years, says. “[The Justice Department] may have just said, ‘Laundering conspiracy at this amount of funds would be a pretty severe prison sentence in itself.’”
The laundering
After the hack, the wallet in question had tens of millions of dollars worth of Bitcoin in a single account. But to extract it in large withdrawals would arouse plenty of suspicion. Most of the cryptocurrency was simply left in the account to appreciate in value.
In early 2017, small amounts of money began to exit the wallet through Alphabay, a currency exchange on the dark web that was often used to transact deals for drugs, weapons, and other illicit goods, according to investigators. By routing crypto through Alphabay, the trail of money on the blockchain itself would run cold. The launderers could then simply deposit the money in another Bitcoin wallet with its provenance obscured.
When Alphabay was shut down by law enforcement in 2017, the perpetrators switched to routing the money through the Russian-language marketplace Hydra, according to Tom Robinson at Elliptic, who has been tracking the money flow of the hack using tracing techniques and other software. Three years later, as Bitcoin prices spiked, the launderers employed a type of transaction known as a “coinjoin,” using Wasabi Wallet, a privacy wallet designed to prevent blockchain tracing. These methods amounted to the most “state-of-the-art laundering techniques” at the time, Robinson says.
Lisa O. Monaco, the U.S. Deputy Attorney General, alleges that it was Lichtenstein and Morgan who undertook these operations. According to Monaco’s statement, they used darknet services in conjunction with a series of complicated maneuvers that amounted to “a labyrinth of cryptocurrency transactions,” including opening accounts under false names, moving funds in thousands of small, separate transactions that were automated by computer so as to pass under the radar of financial watchdogs.
Eventually, the funds made their way into more traditional financial accounts held by Lichtenstein and Morgan, who spent the money on gold, NFTs and a Walmart gift card that was used to pay for Ubers and a Playstation, according to charging documents. A vast amount of Bitcoin—hundreds of millions of dollars worth—was converted into real money, but there was still a long way to go: 80% of the funds that had initially been deposited into the initial crypto wallet after the hack remained there until January 31.
The chase
As the launderers tried technique after technique to move the money, efforts to combat scammers were escalating—particularly in the U.S. Regulatory agencies were taking notice, investigating large scams. U.S.-based crypto currency exchanges were falling in line under the purview of the Department of Treasury, which required that they establish anti-money laundering (AML) programs and KYC (know-your-customer) protocols to make it harder for anonymous users to transfer money.
Meanwhile, crypto researchers and coders were building out more sophisticated tracking tools, hoping to bring some order and accountability to a space rife with scamming and bad actors. TRM Labs, for example, developed a tool to combat the effectiveness of “chain-hopping,” a set of actions in which launderers move funds rapidly across different blockchains (like converting Bitcoin to Ethereum to Solana). Elliptic, similarly, developed automated tracing techniques to track money across “peeling chains,” in which cryptocurrency is routed through a bevy of addresses. Last May, Robinson wrote a detailed blog post about the web of laundering from the Bitfinex hack money, complete with detailed graphics of where the money was ending up.
But while experts like Robinson knew which cryptocurrency accounts stored the stolen Bitcoin, linking blockchain addresses to actual people was another matter entirely. Robinson says that the Justice Department’s efforts were aided tremendously by the fact that AlphaBay had been shut down in 2017 by an international law enforcement effort led by the FBI. This shutdown, Robinson believes, gave law enforcement access to the service’s internal transaction logs, which helped officials concretely connect the dots between the wallet linked to the 2016 hack and the laundered accounts. “The fact that law enforcement took down AlphaBay probably led to [Lichtenstein and Morgan’s] downfall,” Robinson says.
With the biggest piece of the puzzle found, officials began finding links between the smaller shell accounts and bank accounts that belonged to Lichtenstein and Morgan, according to the charging papers. In January, they obtained a search warrant for a cloud storage account belonging to Lichtenstein, where they found a list of wallet addresses linked to the hack with their passwords. One of those wallets stored the majority of the remaining money: 94,000 Bitcoin, documents alleged. Using Lichtenstein’s passwords in the cloud, they entered the account and seized the funds, investigators said.
Redbord says the speed and force with which the investigation and seizure was carried out was aided by the transparent nature of the blockchain. “Law enforcement investigators have never had a more open way to follow the money,” Redbord says. “This shows cybercriminals that just because it’s years after a hack, don’t think you’ve gotten away with it: We’re going to trace those funds until we can seize them.” U.S. officials said that while a judge would ultimately decide how the recovered money would be distributed, the government would seek to return funds to their original owners.
This may only be the beginning of the DOJ’s efforts to crack down on crypto scams. The feds have been highly active, launching a National Cryptocurrency Enforcement Team last year to expand investigations of money laundering and other financial crimes. Last June, it recovered millions of dollars from the Colonial Pipeline ransomware attack. Meanwhile, other regulatory bodies, including the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are positioning themselves to get a piece of the regulatory action.
Redbord says that amid all of the fierce debate about regulation surrounding the cryptocurrency space, both online and increasingly in the halls of Congress, a lot of regulation is “already in place” to allow an oversight action like the one that just occurred. “Every exchange, every broker, every ATM, every custodian, is required by the Financial Crimes Enforcement Network [a bureau of the Department of the Treasury] to have a compliance program, to report suspicious activity,” he says.
“To me, this case says to the policymakers [in Congress] that law enforcement has the tools, the training and the ability to follow the flow of funds in crypto,” Redbord says. “This is not just an anonymous thing used only for money laundering and fraud. In fact, the blockchain itself can be a powerful tool for investigating financial crime.”
They not only know they can't stop it, they want to start their own PARTY!
The administration is also expected to weigh in on the possibility of the U.S. issuing a government-backed coin, known as a central bank digital currency or CBDC, the people familiar with the talks said. But, according to one of the people, the administration is likely to hold off on taking a firm position, as the Federal Reserve is still considering the issue. On Thursday, the Fed released a preliminary paper on the matter and opened a public comment period through May 20.
A CBDC could be a way for the U.S. to stay competitive with the explosive growth of private cryptocurrencies and coins produced by other nations, including China. The Fed said it does not intend to move forward without the support of the White House and Congress.
What is a Central Bank Digital Currency and why should people prefer CBDC over bank accounts
https://daml.com/blog/engineering/what-is-a-central-bank-digital-currency-and-why-should-people-prefer-cbdc-over-bank-accounts?utm_source=google&utm_medium=paid_search&gclid=EAIaIQobChMIsP-voc_c9QIVFgaICR20dQX7EAAYAiAAEgLeb_D_BwE
What is a Central Bank Digital Currency?
https://www.federalreserve.gov/faqs/what-is-a-central-bank-digital-currency.htm
Are there any central bank digital currencies?
A central bank digital currency is the virtual form of fiat money. As such, it has the full faith and backing of the issuing government, just like fiat money does. CBDCs are meant to represent fiat currency. ... There were 83 countries around the world pursuing CBDC development as of October 2021.
https://www.investopedia.com/terms/c/central-bank-digital-currency-cbdc.asp
Actually it is January 26, 2022.
My countdown numbers may be a few days off.
T-Minus 0
RGBP Current Status
One of two(2) things will happen:
1. RGBP will raise the 50 Million.
2. RGBP won't raise the 50 Million.
Other than as to confidentiality and good faith provisions of the LOI the parties agree that the LOI does not constitute a binding commitment by either party with respect to any transaction. The non-binding provisions of the LOI reflect only the parties’ current understanding of the contemplated transaction, and a binding contract will not exist between the Parties unless and until they sign and deliver a mutually acceptable definitive agreement. Other than to impose a duty to the parties to negotiate in good faith and to not disclose Confidential Information, no obligations of one party to the other or liability of any kind shall arise from executing this Letter or its taking or refraining from taking any actions relating to the proposed transaction.
Who are the Parties involved?
Proposal regarding contemplated acquisition of 95% of the share capital and voting power of Canary Oncoceutics, Inc (“Canary”) by Regen Biopharma, Inc. (“RGBP”) from Canary Oncoceutics Partners, LLC (“LLC”). RGBP, Canary, and LLC may be referred to as Party or collectively as Parties
What do RGBP propose to accomplish?
The management of the Company believes that the proposed acquisition of 95% of Canary would provide an opportunity for the Company to diversify its intellectual property portfolio beyond the development of therapeutics into the development of in vitro diagnostics specifically the development of complimentary functional precision medicine tests. In the event that intellectual property contemplated as being included in any definitive agreement can be successfully developed cancer patients could receive both a genetic test and a functional test. This combined test would provide their treating physician with information that will allow for the selection of the ideal drug/drug combination for each patient.
Some highlights from the “LOI”:
1. Definitions.
Net Sales shall be defined as the aggregate sum of all gross invoice prices of, plus the fair market the value of any non-cash consideration received from third party customers for Test Products or Test Services sold or leased by RGBP in the applicable territory, less (b) the aggregate sum of the following actual and customary deductions, where applicable and separately listed and in each case not otherwise reimbursed to the invoicing entity: (i) cash, trade, or quantity discounts; (ii) sales, use, VAT, tariff, import/export duties or other excise taxes imposed on particular sales (except for income taxes imposed on the sales of Test Product); (iii) transportation handling, or insurance charges; (iv) credits to customers because of billing errors, chargebacks, coupons, rebates, recalls, refunds, rejections, retroactive price adjustments, or returns; plus (v) any amounts invoiced that are not collected by RGBP after reasonable collection efforts subject to a cap of 3% of Net Sales.
Test Product shall be defined as a Patient-Derived Organoid on Vascular Net (PDOV) for a specific tumor type. For example, a colon tumor-derived PDOV is one Test Product, an ovarian tumor-derived PDOV is another Test Product.
Test Service shall be defined as any service performed by RGBP for the benefit of a third party that, in whole or in part, uses Test Product(s) or that practices or is enabled by a Test Product.
Territory shall be defined as Worldwide
3. Financing
No definitive agreement between the parties for the acquisition by RGBP of the Canary Controlling Interest shall close unless RGBP shall have raised the amount of $50,000,000 USD dedicated solely to the development and commercialization of Canary diagnostics and products (“Canary Funds”). The Canary Funds shall be deposited in a segregated account established solely for that purpose and disbursement of the Canary Funds shall be under the joint control of the Chairman and Chief Executive officer of RGBP and the Chief Executive Officer of Canary.
5. Term and Good Faith
(a) In consideration hereof and of the time and resources that RGBP will devote to the various investigations and reviews undertaken by RGBP, it is agreed by the Parties that Canary, LLC and each of their respective affiliates, directors, officers, employees, representatives and agents will not, directly or indirectly, solicit, initiate, enter into or continue any discussions or transactions with, or encourage, or provide any information to any person or entity with respect to any proposal pursuant to which (i) Canary would obtain any debt or equity capital or (ii) Canary would be acquired, whether through a purchase, acquisition, tender offer, consolidation or other business combination or (ii) either of Canary or LLC would enter into any transaction or arrangement or otherwise approve any transaction which would result in any third party acquiring any of the outstanding equity of Canary or (iii) Canary or LLC would license, sell or in any manner encumber any of the intellectual property of Canary between the date of execution by them of this LOI and the date ending 90 days thereafter ( “Term”).
(b) The Parties agree to negotiate in good faith to enter into a mutually acceptable definitive agreement with regard to the subject matter contemplated by this Letter until the completion of the Term (1/26/2022).
9. Intellectual Property
It is understood that the IP that will be licensed into Canary will originate from Cornell University and specifically from the laboratory of Dr. Shahin Rafii. The final IP will be included in the definitive agreement as an appendix. This IP allows for the creation of patient-derived tumor on vascular nets for in vitro testing of therapeutic agents.
https://sec.report/Document/0001607062-21-000512/
Analysis and Thoughts:
The LOI is the ROADMAP to the Definitive Agreement. The LOI was probably negotiated over a period of several weeks and was probably in negotiations when RGBP provided a Scope of Work order to Biotech Research Group directing Biotech Research Group to perform an independent assessment of work conducted to date on behalf of the Company by the Company’s Contract Research Organization in order to assist the Company in determining what would be the most efficient actions to undertake in order to commercialize the Company’s NR2F6 intellectual property as well as assist the Company with regulatory strategy with regard to the Company’s NR2F6 intellectual property .
The LOI is very specific to what are each party’s rights and obligations. What is very encouraging is the detailed expected milestones, partnerships, FDA, EMA and PDMA approvals. Also the purchase price, fees, milestones payments are very precise as to the reason, time and amount.
One of the most intriguing and interesting pieces of the LOI is that the IP that will be licensed into Canary will originate from Cornell University and specifically from the laboratory of Dr. Shahin Rafii.
While there is no guarantee this will succeed, the LOI was well thought out, negotiated with precision and detail which suggests an increase probability of a successful Definitive Agreement.
If an agreement is reached, it will mean that the 50 million was raised, due diligence completed and RGBP will be off to the races.
We will only find out about it after it happens and there is a very, very strong possibility that the stock price makes a major move and people will be falling all over themselves chasing it.
Here’s a summary of Bitcoin mining companies going public via SPACs.
Bitcoin is well on its way to becoming a globally accepted asset, and as a result, the mining industry is flourishing. Mining is a highly competitive industry requiring intensive capital, and utilizing the public markets can give an advantage. A miner can opt to go public via the traditional IPO avenue, or however, an increasing number of miners are choosing to go public via SPAC mergers. A SPAC is a special purpose acquisition corporation with the sole purpose of acquiring and merging with private firms. SPACs offer a quicker and more efficient public listing process by avoiding regulatory burdens. Earlier this year, Cipher Mining went public via a $2 billion SPAC merger, and more deals are starting to roll in. Below we cover some of the pending deals.
Gryphon Digital Mining
On June 3rd, Sphere 3D (ANY), a Nasdaq-listed company, announced a $184.3 million reverse merger with Gryphon Digital. The Bitcoin miner has a zero-carbon footprint and is led by CEO Rob Chang, the former CFO of Riot Blockchain. The combined entity will continue to trade on the Nasdaq but effectively be operated by Gryphon Digital executives. The merger was expected to close in the third quarter of 2021 but has been pushed to the first quarter of 2022. Although not technically a SPAC merger, since Sphere 3D is an established data infrastructure company, the concept is similar; take a private firm public via a merger.
Core Scientific
On July 21st, blank-check firm Power and Digital Infrastructure Acquisition Corp (XPDI), entered into a merger agreement with Core Scientific, a vertically integrated blockchain infrastructure and mining company. The combined entity will trade on the Nasdaq and is expected to have an enterprise value of $4.3 billion. Interestingly, XPDI is a SPAC supported by BlackRock, which holds nearly 10% of outstanding shares. The deal is expected to finalize by the fourth quarter of 2021.
Bitdeer Technologies
On November 18th blank-check firm Blue Safari Group Acquisition Corp announced its plan to merge with Bitdeer, a cryptocurrency miner, spun off from Bitmain, with operations in the United States and Norway. The combined entity will have an enterprise value of $4 billion, continue trading on the Nasdaq, and be led by Jihan Wu as Chairman. The merger is expected to close by the first quarter of 2022.
Prime Blockchain
A Bloomberg report released on November 18th indicated blank-check firm 10X Capital Venture Corp II was in talks to merge with Prime Blockchain, a Bitcoin mining and infrastructure firm with operations in North America. The combined entity will continue trading on the NYSE and have an enterprise value of roughly $1.5 billion. The deal is not final and could still fall apart. Prime Blockchain mines 5 Bitcoin per day and expects to compete with Riot and Marathon.
Griid Infrastructure
The latest merger deal was announced on November 30th by blank-check firm Adit EdTech Acquisition Corp (ADEX) to merge with Ohio-based Griid, a carbon-free Bitcoin miner. The deal values the combined entity at $3.3 billion and will trade on the NYSE under the ticker symbol GRDI. The merger is expected to be completed in the first quarter of 2022. Like many new miners announcing public listings, Griid’s investment case is mining powered by green, renewable energy sources.
Conclusion
There’s a Bitcoin mining boom and miners are aggressively seeking options to list quickly as possible to tap into public capital. Deals have been announced left and right; five Bitcoin miners are expected to be listed by the first quarter of 2022 via SPAC or reverse mergers.
‘Frothy squared’: crypto firms are lining up to tap market mania
The IPO fever whipping up animal spirits in the stock market has spilled over into the crypto-sphere.
After watching investors pour millions into blank-check companies and seeing the likes of JFrog and Snowflake surge after market debuts, at least eight crypto firms are eyeing initial public offerings. Coinbase has filed. Other exchanges are laying out plans or looking to be acquired through special-acquisition vehicles. And two Bitcoin mining equipment firms in China are on IPO watch lists, according to Renaissance Capital.
While it’s somewhat surprising that an industry that prides itself on being an outsider to financial-market infrastructure has eyes for public listings, for some investors it is downright worrying. The IPO mania alone is enough to stoke bubble worries, but adding crypto to the mix after its record run is fueling concern that investors are setting themselves up for an especially painful comeuppance.
“Crypto is chronically frothy. IPOs are chronically frothy. We’re in the frothy phases for both right now,” said Aaron Brown, a crypto investor and Bloomberg Opinion writer. “So crypto IPOs this year? Frothy-squared.”
The IPO market has been red-hot since last fall as companies rushed to take advantage of the 70% surge in stocks since the March lows. Public debuts and blank-check companies have grown so popular that record after record fell. And first-day pops in share prices, a barometer of investor appetite for newly public firms, are among the biggest in decades.
It has all become too much to ignore for the crypto industry.
Coinbase and eToro, as well as MicroBT, a mining company, have spurred chatter of public offerings slated for this year, according to Renaissance, which provides IPO ETFs and institutional pre-IPO research. A handful of others -- Gemini Trust Co., a crypto exchange, and Bitmain Technologies and Bitfury, two firms centered around mining -- may also join the wave of new entrants.
“It’s clear a gap has opened between private and public market’s valuation for tech companies, inciting startups to fast track a potential IPO,” said Emmanuel Goh, co-founder and chief executive officer of Skew, a data analytics and trade execution platform focused on cryptocurrency derivatives. “Given current appetite for cryptocurrencies, I expect extremely strong demand for bellwether crypto companies that are already turning a profit.”
Coinbase, which was valued at more than $8 billion in 2018, has ignited some of the biggest excitement. The company filed last month to go public in what many are arguing amounts to be a breakthrough moment for the industry. The exchange has about 35 million verified users and more than $25 billion in assets on its platform, Bloomberg reported. Coinbase declined to comment for this story.
Crypto enthusiasts have long sought a warmer embrace from Wall Street, wagering that greater mainstream acceptance could help usher in a period of growth. It’s a prognostication that was borne out in part last year, when institutional entrants helped push Bitcoin to new highs.
“It’s a pure-play bet on the fastest growing industry in the world, crypto, and we’re in the loosest money regime in history,” said Nic Carter, co-founder of researcher Coin Metrics. Carter added that he expects others to follow Coinbase.
To Mati Greenspan, founder of Quantum Economics, it’s a good environment for crypto firms to consider public debuts. Institutional adoption means there are “deep pockets” that are willing to invest, especially while crypto prices are skyrocketing.
“If you’re going to raise capital, it’s good to do it while the wind is in your sails,” he said. He doesn’t think it’s a frothy indicator.
The latest coin price rally is also partly why crypto miners are seeing high demand, according to Christopher Bendiksen, head of research at asset manager CoinShares.
“There’s a bottleneck in supply,” he said, adding that most mining equipment makers have all their expected inventory prepaid for six months in advance. “At this point I don’t think they are even taking a call.”
But many have questioned how much hotter crypto prices can get following a blockbuster 2020, when Bitcoin notched record after record. About 60% of returns since October can be explained by market exuberance and momentum trading, according to an analysis from Bloomberg Economics.
Bitcoin has come off its highs after it crossed $40,000 this month, but is still up about 16% this year. A survey of more than 620 market professionals by Deutsche Bank showed that 50% of respondents gave Bitcoin the maximum 10 out of 10 bubble rating. Whether it is will only be evident in hindsight. Investors with long memories, though, are taking note.
Matt Maley, chief market strategist at Miller Tabak + Co., says the wave of potential IPOs is something typically seen toward the end of a bullish run. While the trend might not be indicative of an imminent crash and he’s bullish on crypto, it’s still reminiscent of the type of exuberance seen at the height of the dotcom bubble in the early 2000s.
“When a bunch of companies in the same sector go public at the same time, it tells you that the people who run those companies realize that their valuations are very high,” and might be looking to capitalize on it, he said. “The smart guys are taking advantage of this parabolic move right now.”
Read more at:
https://economictimes.indiatimes.com/markets/stocks/news/frothy-squared-crypto-firms-are-lining-up-to-tap-market-mania/articleshow/80430994.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Speaking of ARAT there are similarities to TCRI. Crypto Mining company buying empty shell.
TCRI SEC 13D https://docoh.com/filing/1866200/0001683168-21-003194/SC13D
TCRI SEC Form 3 https://docoh.com/filing/1866200/0001683168-21-003196/3
Alphabet LLC/Munaf Ali bought TCRI shell for 550 grand
ARAT 8K https://www.otcmarkets.com/filing/html?id=15067862&guid=Jsjwk61MkzeZOth
CoreGroup (https://coregroup.cc/#home) bought ARAT pink current shell for $400 grand
Gonna be very very interesting
Cryptocurrency investment from UAE company that manages $243 billion in assets
In the United Arab Emirates, where crypto money trading was allowed in the free zone in the past months, the crypto money step came from Mubadala Investment Company of Abu Dhabi, one of the major investment companies.
Phoenix VC General Information
Phoenix VC is a venture capital firm based in Dubai, United Arab Emirates. The firm prefers to invest in the cryptocurrency and blockchain companies.
https://pitchbook.com/profiles/investor/454989-25#investments
Munaf Ali Age, Birthday, Wikipedia, Who, Nationality, Biography | TG Time
https://thewikibiography.com/munaf-ali-age-birthday-wikipedia-who-nationality-biography-tg-time/
Munaf Ali is a Dubai-British-based finance supervisor, hottest as a Lodge enterprise visionary. He’s the CEO of Phoenix Retailer-Official Bitman Distributor. Munaf, the proprietor of the UAE show space. He has been centered round web-based media.
Munaf Ali is hitched to the Actual Housewives of Dubai solid half Nina Ali. Nina Ali is an excellent powerhouse who moved to Dubai for her adoration, her higher half, a British finance supervisor Munaf Ali. Nina Ali’s Husband Munaf Ali is a British Businessman, who is true now filling in as CEO of the Phoenix retailer.
Phoenix Retailer, an elite offers confederate of Bitmain within the Center East, is among the most important digital foreign money mining gear retailers. Its upkeep neighborhood is located in Dubai, United Arab Emirates, and claims its locales. By his group, they provide advising on shopping for mining machines by the use of their achieved tea and examine service contract bundles.
Additional, they provide facilitating and cooling administrations. Being the CEO of the group, Munaf wants to revamp his clients with the newest age mining {hardware} on the most cutthroat prices. Munaf Ali is true now at 47 years previous, could have a complete belongings of $1 Billion.
Munaf Ali, the CEO at Vary Hospitality, could also be an especially wealthy particular person or tycoon. Being the CEO of Phoenix and fascinating in digital foreign money, the monetary specialist sort out the inventory of money and bitcoins.
The monetary specialist has extraordinary info on hypothesis and the provide market. Ali must be carrying on with an extravagant lifestyle alongside his fantastic partner and his youngsters.
Munaf Ali is by all accounts inaccessible on Instagram. Nevertheless his vital different Nina Ali is accessible on Instagram beneath the username @nina.ali. The superb lady is the solid particular person from The Actual Housewives of Dubai, a trailer delivered on November 2, 2021, on You tube.
The unscripted tv present depends upon the documentation of the lifestyle of a gathering of affluent housewives dwelling in a particular metropolis. This sequence is communicated on the Bravo group.
Regardless of the truth that Munaf is inaccessible on Instagram, his vital different investigates her by the use of her Instagram report to the world. On Surveying her IG account, the couple is carrying on with an lovable and cheerful on a regular basis life alongside their three youngsters, one little one, and two ladies.
https://www.instagram.com/p/CTufGlLPXlv/?utm_source=ig_embed&ig_rid=0d176136-8497-4ddc-bf5a-54b3e77147b0
TCRI
Just the facts:
VISIONARY
Enough Said!
Munaf Ali is a Dubai-British-based finance manager, most popular as a Hotel business visionary. He is the CEO of Phoenix Store-Official Bitman Distributor. Munaf, the proprietor of the UAE display area. He has been centered around web-based media.
Munaf Ali is hitched to the Real Housewives of Dubai cast part Nina Ali. Nina Ali is a super powerhouse who moved to Dubai for her adoration, her better half, a British finance manager Munaf Ali. Nina Ali’s Husband Munaf Ali is a British Businessman, who is right now filling in as CEO of the Phoenix store.
Phoenix Store, an elite deals accomplice of Bitmain in the Middle East, is one of the main digital currency mining equipment retailers. Its maintenance community is situated in Dubai, United Arab Emirates, and claims its locales. Through his organization, they give advising on buying mining machines by means of their accomplished tea and investigate service contract bundles.
Further, they give facilitating and cooling administrations. Being the CEO of the organization, Munaf needs to redesign his customers with the most recent age mining hardware at the most cutthroat costs. Munaf Ali is right now at 47 years old, may have a total assets of $1 Billion.
Munaf Ali, the CEO at Range Hospitality, may be an extremely rich person or tycoon. Being the CEO of Phoenix and engaging in digital currency, the financial specialist tackle the stock of cash and bitcoins.
The financial specialist has extraordinary information on speculation and the offer market. Ali should be carrying on with an extravagant way of life alongside his wonderful spouse and his children.
WORLD DIGITAL MINING SUMMIT 2021
https://www.youtube.com/watch?v=43_o2S-1K-k
Munaf Ali is at 2:52:00 telling the Phoenix Story.
Footprint: UAE, Turkey, Russia, Canada and the USA
Close to 100 employees.
They serve high net worth individuals, corporate, governments and institutions who wish to enter the crypto mining space,
Block One Technology born in Canada became the Global hosting provider for Phoenix and its clients.
Block own and manages sites across Canada, Russia, United States and soon the UAE.
Phoenix started with 2MW in 2015 to 450MW today.
The $650 million mining machines are to placed in the new State of the Art Mining facility in the UAE. Over 600 MW in first phase and expand to 1.4GW within 18-24 months.
Currently owning and managing 450MW across various locations
Over 500 Million under management in 60 different investments
Focus on blockchain and crypto startups
Focus on clean energy sources.
Always looking to develop new innovative investment solutions to both large and retail investors who wish to enter this cutting edge industry.
Hello TCRI
Acquired a US listing entity for the purpose of listing some of the Phoenix Group income generating assets on the US stock market. Expect to share more information in early 2022.
USA mining farm will be live December 2021.
Index of contact profiles from Block One Technology
Bijan Alizadeh Founder & Chairman
Phil Harvey Chief Operating Officer
Bill Richards Director
https://www.zoominfo.com/pic/block-one-technology-inc/476532372
Assets are definitely coming into the shell:
What Phoenix assets are coming to TCRI:
Based on Munaf Ali making the announcement at the WORLD DIGITAL MINING SUMMIT 2021 it is more than likely to be crypto related.
The question now is what and how many assets?
Well that is a vey good question.
UAE-based Phoenix Technology Consultants is a very successful and profitable organization so whatever assets are coming they will be very successful and profitable and straight from the horse's mouth (Munaf Ali):
I got shares
You got shares
MMs got no shares
Some more tidbits from the Phoenix Story
The Phoenix Group operates on 3 continents.
Close to 100 employees.
They serve high net worth individuals, corporate, governments and institutions who wish to enter the crypto mining space,
Block One Technology born in Canada became the Global hosting provider for Phoenix and its clients.
Block own and manages sites across Canada, Russia, United States and soon the UAE.
Phoenix started with 2MW in 2015 to 450MW today.
The $650 million mining machines to placed in the new State of the Art Mining facility in the UAE. Over 600 MW in first phase and expand to 1.4GW within 18-24 months.
Focus on clean energy sources.
Always looking to develop new innovative investment solutions to both large and retail investors who wish to enter this cutting edge industry.
TCRI is on the move.
The stock price will appreciate until TARGET price is reached before assets are moved in.
What the TARGET price is will be revealed when 8Ks start dropping and Munaf Ali shares some more information.
Under Internal Revenue Code §351, no gain or loss is recognized if one or more persons transfer property to a corporation solely in exchange for the stock in the corporation and immediately after the exchange such person or persons are in control of the corporation. The basic requirement for this tax-free exchange is that the transferor or transferors must be in control immediately after the exchange. Control, for this purpose, means the transferor or transferors must have ownership of stock possessing at least 80 percent of the total stock of the corporation. The gain or loss is not recognized when in exchange for the transferred property, the transferor receives the corporation's stock or securities.
Munaf Ali owns 84.7% of TCRI.
https://ch.marketscreener.com/boersen-barone/Munaf-Ali-0H77Y3-E/biography/
A transferor could transfer appreciated property into a corporation without recognizing a gain. For purposes of Internal Revenue Code §351, when a transferor receives securities, such securities will be treated as "boot" in all cases. Boot is other property or money the transferor receives in addition to the stock.
Permitting a nontaxable transfer to a controlled corporation will postpone the recognition of gain or loss until the stock received in the transfer is ultimately disposed of by the transferor. This is accomplished by attributing to the stock the same basis as that of the property originally transferred in exchange. More importantly, the property transferred will retain its basis in the hands of the corporation.
The first step in the transfer process is to form the corporation and the offer by the transferor of the property to the corporation. The courts have held and the Internal Revenue Service has ruled that money qualifies as property in addition to goodwill, patents, and other intangible assets constitute property for this purpose, except services.
The second step would be that the corporation's shareholders and the board of directors must accept the offer, and the board of directors must authorize the issuance of the stock upon delivery of the appropriate instruments of conveyance.
The final step is the execution and delivery of the instruments of conveyance and property. The importance of formal instruments of transfer, even in the case of a small corporation, cannot be overemphasized. Such instruments are not only a prerequisite to completing the transaction, but can record effectively the price and terms of the transaction.
Question for the board??
If Munaf Ali moves 250 million in assets into TCRI and the stock price sits at 5 dollars then 50 million shares are to be issued for the assets.
or
If Munaf Ali moves 250 million in assets into TCRI and the stock price sits at 10 dollars then 25 million shares are to be issued for the assets.
or even better
If Munaf Ali moves 250 million in assets into TCRI and the stock price sits at 20 dollars then 12.5 million shares are to be issued for the assets.
Is this is how the movement of assets are to work out?
What goes up must come down EXCEPT Techcom Inc. cause Munaf Ali ain't PLAYING around. Spinnin' wheel, got to go round get in stop messing around.
Talkin' 'bout your troubles, it's a cryin' sin
Ride a painted pony, let the spinnin' wheel spin while the stock price rise and you can grin.
Institutional Money Is Pouring Into The Crypto Market And Its Only Going To Grow
In its formative years, bitcoin was dismissed by institutions as a showy worthless digital asset favored by criminals. Gradually the tectonic plates that shape sentiment in the corridors of power shifted. Bitcoin, which appeared to be on an ideological collision course with institutions in its first decade of existence, recently bears the hallmark of institutional acceptance.
This has been driven by a number of factors led by the outstanding performance of bitcoin relative to any other asset class on the planet. ‘Smart money’ is allocating to bitcoin as a portfolio diversification strategy. These days family offices, hedge funds, and traditional money managers have a very different perspective on cryptocurrency products and services, with an eye-watering $17 billion worth of institutional capital flooding into the space this year alone.
Periodic surveys bear this out, with a growing number of institutional investors allocating a percentage of their portfolios to digital assets. A recent study conducted by Fidelity Digital Assets found that seven in ten institutional investors expect to buy or invest in cryptoassets in the near future. More than half of the 1,100 respondents surveyed between December and April revealed that they already own such investments.
A separate survey by Nickel Digital Asset Management came to a similar conclusion, with 82 percent of respondents expecting to increase their crypto allocation in the next two years. Just over a third of respondents said the involvement of more leading corporates and fund managers has given them greater confidence to invest.
BlackRock Leads the Way
When BlackRock adds crypto to its balance sheet, financial advisors and high net worth individuals naturally prick up their ears. BlackRock, the world’s largest asset manager with $9.5 trillion assets under management, is one of 16 mutual fund managers (including Morgan Stanley Investment Management) to gain exposure to the crypto market via its Global Allocation and Strategic Income Opportunities funds, which have a collective worth of over $40 billion.
BlackRock is also indirectly exposed to bitcoin via a 14.56 percent stake in MicroStrategy, the cloud software firm with over $3.4 billion of BTC on its balance sheet. MicroStrategy’s outspoken founder Michael Saylor has been one of bitcoin’s biggest champions in recent years arguing that it will soon be on the balance sheets of cities, states, governments, companies, small and big investors as well as core to tech innovation at Apple, Amazon, and Facebook.
Whether or not you agree with Saylor, his leadership on the topic is clear to see - bitcoin maximalists have adopted Saylor as one of their own.
The term unicorn, reserved for privately-owned startups that reach a valuation exceeding $1 billion, increasingly applies to crypto companies, from Coinbase and Bitpanda to blockchain.com and fintech forensics giant Chainalysis. CoinDCX just became the first Indian crypto startup to achieve unicorn status following a $90 million funding round.
Coinbase is one of the crypto industry’s great success stories, and after its direct listing on Nasdaq this past spring the San Francisco-based exchange briefly achieved a valuation of $100 billion. Despite recent market choppiness, Coinbase surpassed all expectations in Q2, generating $2.23 billion of revenue – around $450 million more than expected. Monthly transacting users were also up 44 percent from Q1, hitting 8.8 million.
Crypto Investment Opportunities Abound
In recent years, a range of options has become available to those who are interested in crypto’s upside potential. Grayscale’s Bitcoin Trust, for example, allows investors to speculate on bitcoin without needing to buy it directly. The fund is currently valued at well over $20 billion, and the asset manager has additional index funds dedicated to several altcoins such as Filecoin, Basic Attention Token, and Chainlink.
Elsewhere, crypto-dedicated investors trade derivatives on the leading exchanges or participate in the booming decentralized finance, or DEFI, space, principally through staking, lending and borrowing with over $70 billion in Total Value Locked in the DeFi ecosystem.
Equity-type investments are currently setting records. This year, 10 of the 12 largest financing rounds in crypto were completed, raising just under $3.9 billion. One startup, the derivatives exchange FTX, managed to raise $900 million to achieve a cool valuation of $18 billion. The question many outside observers ask is 'why now?'.
Xinshu Dong, a partner at venture capital fund IOSG Ventures says, “Many see the crypto market as the one with the most growth potential, justified by a much more frictionless and transparent way of business.
“VCs bet on high-risk, high-return investments and are typically unfazed by short-term volatility as long as the fundamentals remain promising. At the moment we’re seeing less people trying to discern whether market conditions are bullish or bearish; rather, the future of blockchain-powered technologies and applications just looks very bullish overall, despite the regulatory risks.”
Dong is keen to underscore crypto’s distinct advantages when compared to the traditional investment space adding, “With traditional VCs, fund returns are defined by the power law curve. Crypto is an interesting case where this has not set in yet, and this is due to multiple factors like the ability to mint tokens, liquidity mining, and overall greater arbitrage opportunities compared to traditional markets.”
Ben Middleton, an advisor at Ascensive Asset Management, believes Fear of Missing Out (FOMO) deserves some of the credit for the recent growth in equity-based investments, wherein blockchain firms raise capital through predominantly crypto-focused hedge funds.
Says Middleton, “VCs that invested in projects over the last few years earned outsized returns, so there’s definitely an element of fear of missing out (FOMO) for all investors in the space. Off the back of this, VCs have raised new funds or their existing funds have grown a lot in AUM, so there’s plenty of capital to deploy and some are actually forced to deploy it given their structure and lifecycle.
“On the Solana blockchain, to give one example, we’ve seen ten different money markets launching over the past two months. This all ends up with rounds being highly competitive and getting bid up. We think some VCs are even using a strategy of overpaying in rounds to price out their competitors and secure deals. They hope to build a reputation off the success of those projects, but also gain clout for being the go-to VC for all the major rounds.”
Whatever the reason, VC investments in crypto during the first six months of this year have more than doubled those witnessed in all previous years combined. Bitcoin’s April surge to a record high above $64,000 certainly helped, with number two crypto ETH achieving its own ATH a month later. Around this time, the global market value of all cryptocurrencies in circulation hit $2.5 trillion for the first time.
Profiting in a Pandemic
China’s mining crackdown and regulatory uncertainty around the world may cause investors to pause to consider cryptocurrency. Just last week, US Securities and Exchange Commission (SEC) chairman Gary Gensler described digital assets as 'rife with fraud, scams, and abuse in certain applications' and called for greater government regulation to protect (retail) investors.
If the long-touted physically-backed bitcoin ETF finally gets the regulatory green-light in the U.S., this could go some way to offering retail clients access to the performance of bitcoin in a safe, secure, and in some instances, risk-adjusted manner, and overcome issues the regulator raises that are currently barriers to mass retail access to and adoption of cryptocurrency.
PWC’s latest Global Crypto Hedge Fund Report reflects the consequent doubt, suggesting that regulatory uncertainty remains the greatest impediment for investors. Despite unanswered questions, the report asserts the growing number of funds is likely to increase competitive pressures between managers.
Many in the cryptocurrency community have been asking for years when the institutions are coming. The answer is here and now - the institutions have arrived, and this year has set the benchmark for institutional interest in cryptocurrencies. This is an important milestone to note. The pace of innovation to replace the legacy plumbing in the institutional financial services infrastructure is significantly influenced by crypto and digital assets and blockchain and DLT infrastructure.
The next decade of development and standards of the digital financial market infrastructure, known as DFMI, for brokerage, custody and settlement, might just surprise many institutional pundits on the periphery of crypto and digital assets - Institutions have seen the future and are further along the road to delivering it than most would think.
https://www.forbes.com/sites/lawrencewintermeyer/2021/08/12/institutional-money-is-pouring-into-the-crypto-market-and-its-only-going-to-grow/?sh=7f328b871459
The last 18 months have transformed cryptocurrency. Its growth has been faster than ever, yet its future has never been so unclear.
Flush with time on their hands and few activities to spend money on, many consumers have forayed into crypto trading for the first time during the pandemic.
Everyday consumers, many not sure exactly what the blockchain is, followed the viral trail of Reddit threads, where talk of “stonks” and “diamond hands” pushed thousands to collectively inflate the price of certain assets “to the moon”. This led to a whole new category of “meme stocks”, breathing life back into defaulting companies like GameStop and AMC, and shaking the market to its core.
Analysts estimate that the global cryptocurrency market will more than triple by 2030
This all leads to one big trend. Cryptocurrency, once only understood among a relatively fringe community of anti-establishment investors, is now becoming a household name – and quickly. Analysts estimate that the global cryptocurrency market will more than triple by 2030, hitting a valuation of nearly $5 billion. Whether they want to buy into it or not, investors, businesses, and brands can’t ignore the rising tide of crypto for long.
But crypto can’t seem to escape paradoxes anywhere. Investors believe in regulation, yet are worried about many of the impacts that regulation will bring about. They’re eco-conscious, but crypto has a huge carbon footprint.
Digging into these nuances is key to understanding overall consumer sentiment – and predicting consumer behavior – around a very uncertain future of cryptocurrency.
Power to the people?
The number of cryptocurrency investors has been steadily increasing around the world for a while, but recent growth has been explosive.
What’s more, the profile of investors has evolved. In the age of meme stocks and stimulus checks, it’s not such a niche hobby anymore. Rather, everyday consumers have seen this new asset class as a way to pad their portfolios with potentially more rewarding, albeit riskier, assets.
50% of crypto investors would be comfortable using it to pay for online shopping
Compared to 2018, older consumers have begun to back crypto at much faster rates. In the U.S., consumers over 35 years old make up nearly half (47%) of those who expect to invest in cryptocurrency in the next 6 months.
For a lot of these current and potential investors, crypto offers a new way to handle their finances, and many also find that the financial freedom of crypto has liberated them from the rigidity of traditional banking.
More recently, the upsides of cryptocurrency have begun to attract institutions, and traditional finance is rushing to cater to the increased demand, such as U.S. Bank’s recent creation of a bitcoin custody service, which allows hedge funds to take a stake into digital currency.
While a larger pool of investment means greater potential for everyday investors, more institutional involvement also threatens digital currencies’ ability to operate outside of traditional finance. Here begins the paradox.
The institutional money that has been pouring into cryptocurrency over the past few years has begun to change the power structure of the market. Thirteen years ago, cryptocurrency recruited users out of a desire to shake up the exclusive, institutionalized world of finance; to create a widely accessible way to move money and pay for goods and services, regardless of individual circumstances.
Unlike traditional banks, you didn’t even need to have an address to trade in crypto; all you needed was an internet connection. Cryptocurrency, in principle, relies on the collective actions of everyday users to self-regulate; they keep the ledger of transactions – the blockchain – secure and updated, and the process allows anyone with a computer the ability to mine coins.
Unlike traditional banks, you didn’t even need to have an address to trade in crypto
Fast-forward to 2021, and the future of cryptocurrency is quite different. Crypto enthusiasts aren’t the ones mining bitcoin anymore, nor are they the only ones profiting from its success. Over time, the mining network has been ring-fenced by a few companies who can provide the huge amounts of computing power and electricity required to mine at scale, making it very difficult for independent users to get involved.
At the same time, the realization that massive corporate investments, like one by Tesla which caused the price of bitcoin to jump 20% in a single day, cast further doubt on how democratic the market truly is.
What started out as a fringe movement has, like so many other things, gone corporate as a result of its own success.
To have your cake and eat it too
Alongside corporations entering into the market, crypto trading and mining has caught the eye of government overseers like never before.
Since the invention of bitcoin, governments have done relatively little compared to traditional investment categories to regulate or moderate the market. For the most part, cryptocurrency has been allowed to spread around the world as a uniquely decentralized financial asset.
Now, the laissez-faire attitude toward decentralized finance is waning. Perhaps surprisingly, investors are actually supportive of new regulations, though they have quite conflicting views about what these policies could mean and who should create them.
The idea of regulation has widespread support...
The details of what government oversight will look like, however, matter a great deal to investors.
On the one hand, many investors believe greater regulation could legitimize the fledgling marketplace – enabling more businesses to accept digital currencies, increasing their value and security from fraud, all while reducing volatility and criminal activity.
On the other hand, many also worry cryptocurrency regulation could effectively limit its peer-to-peer nature, which drew initial investors in. They also see drawbacks to crypto regulation as a potentially larger threat, not just to their wallets, but to the individual freedoms they currently experience in the decentralized and anonymous marketplace.
Cryptocurrency has been allowed to spread as a uniquely decentralized financial asset...but there’s mixed feelings about regulation's impact
% who say the following are the biggest benefits/drawbacks of crypto
Crypto has thrived from volatility and anonymity
The paradox here lies in the difficult balance between wanting regulation, and fearing the loss of the fundamental character of crypto that would result from that very regulation.
Regulation offers protection and stability; while crypto has thrived from volatility and anonymity. But currencies can’t operate without being regulated, especially not to the scale that crypto has reached.
Finding a middle ground between regulating a lawless commodity and allowing it to continue to build value will be a challenge for governments, coin exchanges, and investors alike.
For this reason, support for regulation is directed not toward governments, but toward payment companies and exchanges themselves. While many consumers are mistrustful of industries that are allowed to self-regulate, in this case they see it as a potential solution to the unique risks of crypto regulation.
Many want governments to take a back seat
While this does not reflect well on consumer views of their government, it does bode well for brands. Building trust and credibility in the crypto space is, in the eyes of consumers, easier if you’re not a government entity. Perhaps this reflects the anti-establishment ethos of crypto’s early culture.
Either way, it certainly presents opportunities for brands in technology and related fields to become a trusted partner, educator, and safety net – swooping in to fill the gap where governmental trust is lacking.
The uncertain way forward
Crypto has always been volatile, both in price and in consumers’ perception. Despite the explosion in recent years, what the future of cryptocurrency holds is still unclear.
For the average investor, for government regulators, and for those attempting to make crypto greener, this is a time of paradoxes to navigate. If one thing is certain, it’s that the market in 5 years’ time could be just as unrecognizable to us now as the market was 5 years ago.
What the future holds is still unclear
While the future of cryptocurrency will be shaped by regulators, it can also be influenced by brands, many of which are jumping into the market to fill the needs of the growing marketplace that governments have so far ignored. This can be through facilitating trades in a more comfortable, safe environment for “newbies,” or offering education and resources for curious intenders.
Peer-to-peer payment app Venmo is doing both of these things – offering its customers the opportunity to use a platform they’re already comfortable with to dip their toes into crypto, and providing easy-to-understand content to help educate intenders along the way. Established finance brands and fintech disruptors alike can be a bridge to the future of crypto.
Part of that future means leaning in to the changing profile of investors, and anticipating what the more “mainstream” audience might demand. Traditional payment companies that offer access and education will no doubt make the market more attractive for older investors, while the growing list of businesses accepting the digital currencies can make the market feel safer and more stable.
Whatever the future of cryptocurrency holds, there’s a lot of work to be done to balance the risks with the rewards, and there’s a lot of opportunity for the brands and individuals who take on the task.
https://www.gwi.com/connecting-the-dots/future-of-cryptocurrency
The Future of Cryptocurrency: 5 Experts’ Predictions After a ‘Breakthrough’ 2021
2021 was a big year for cryptocurrency. But what’s next in 2022?
We’ve seen Bitcoin hit multiple new all-time high prices and more institutional buy-in from major companies. Ethereum, the second-biggest cryptocurrency, notched its own new all-time high recently as well. U.S. government officials and the Biden administration have increasingly expressed interest in new regulations for cryptocurrency.
All the while, people’s interest in crypto has skyrocketed: it’s a hot topic not only among investors but in popular culture too, thanks to everyone from long-standing investors like Elon Musk to that kid from your high school on Facebook.
In many ways, 2021 was a “breakthrough,” says Dave Abner, head of global development at Gemini, a popular cryptocurrency exchange. “There’s tremendous focus and attention being paid to [the crypto industry].”
But the industry is only in its infancy and constantly evolving. That’s a big part of why every new Bitcoin high can be easily followed by big drops. It’s difficult to predict where things are headed long-term, but in the coming months, experts are following themes from regulation to institutional adoption of crypto payments to try and get a better sense of the market.
While exact predictions are impossible, we asked five experts about what they’re paying attention to in the crypto space for the future:
IN THIS ARTICLE
• Cryptocurrency Regulation
• Crypto ETF Approval
• Broader Institutional Cryptocurrency Adoption
• Bitcoin’s Future Outlook
• The Future of Cryptocurrency
Cryptocurrency Regulation
Expect continued conversations about cryptocurrency regulation. Lawmakers in Washington D.C. and across the world are trying to figure out how to establish laws and guidelines to make cryptocurrency safer for investors and less appealing to cybercriminals.
“Regulation is probably one of the biggest overhangs in the crypto industry globally,” says Jeffrey Wang, head of the Americas at Amber Group, a Canada-based crypto finance firm. “We would very much welcome clear regulation.”
China announced in September that all cryptocurrency transactions in the country are illegal, effectively putting the brakes on any crypto-related activities within Chinese borders. In the U.S., things are less clear. Federal Reserve Chair Jerome Powell said recently that he has “no intention” of banning cryptocurrency in the U.S while Security and Exchange Commission Chairman Gary Gensler has consistently commented on both his own agency’s and the Commodity Futures Trading Commission’s role in policing the industry.
Gensler recently went so far as to say investors are “likely to get hurt” if stricter regulation is not introduced. Plus, the IRS has an obvious interest in making sure investors know how to report virtual currency when they file their taxes. Gensler’s and Powell’s comments are consistent with an emerging view among the Biden administration and other U.S. lawmakers that more cryptocurrency regulation is needed.
Like most things with cryptocurrency, regulation comes with hurdles. “There are different agencies that may or may not have jurisdiction to oversee everything,” says Wang. “And it differs state by state.”
Clear regulation would mean the removal of a “significant roadblock for cryptocurrency,” says Wang, since U.S. firms and investors are operating without clear guidelines at the moment.
What new regulation could mean for investors
The $1.2 trillion bipartisan infrastructure bill signed by the president in November includes crypto tax reporting provisions that could make it easier for the IRS to track crypto activity among Americans. Even before the new legislation, that’s why experts say investors should keep records of any capital gains or losses on their crypto assets. The new rules may also make it easier for investors to properly report crypto transactions.
“Exchanges will have to issue 1099-B tax forms with cost basis information to investors,” Shehan Chandrasekera, CPA, head of tax strategy at CoinTracker.io, a crypto tax software company, recently told NextAdvisor. “This will significantly reduce the crypto tax filing burden.”
Regulatory announcements can also affect the price of cryptocurrency in already volatile markets. Market volatility is why investing experts recommend keeping any cryptocurrency investments to less than 5% of your total portfolio and never invest anything you’re not OK with losing.
Ultimately, many experts believe regulation is a good thing for the industry. “Sensible regulation is a win for everyone,” says Ben Weiss, CEO and cofounder of CoinFlip, a cryptocurrency buying platform and crypto ATM network. “It gives people more confidence in crypto, but I think it’s something we have to take our time on and we have to get it right.”
Crypto ETF Approval
There’s already been a major breakthrough on this front, with the first Bitcoin ETF making its debut on the New York Stock Exchange in October. The development represents a new and more conventional way to invest in crypto. The BITO Bitcoin ETF allows investors to buy in on cryptocurrency directly from traditional investment brokerages they may already have accounts with, like Fidelity or Vanguard.
“We do it in the equity market, we do it in the bond markets, people might want it here,” Gensler said at the Aspen Security Forum over the summer.
But some say the BITO ETF is not enough, because while the fund is linked to Bitcoin, it does not actually hold the crypto directly. The fund instead holds Bitcoin futures contracts. While Bitcoin futures follow the general trends of the actual crypto, experts say it may not track the price of Bitcoin directly. For now, investors must continue waiting for an ETF that holds Bitcoin directly.
ETF approval has been in consideration by the SEC multiple times over the past few years, but BITO is the first to gain approval.
What a crypto ETF means for investors
It’s too soon to tell how many investors will get in on BITO — but the fund did see lots of trading action in its first weeks. In general, the more accessible cryptocurrency assets are within traditional investment products, the more Americans could buy in and influence the crypto market. Instead of learning to navigate a cryptocurrency exchange to trade your digital assets, you can add crypto to your portfolio directly from the same brokerage with which you already have a retirement or other traditional investment account.
However, investing in a crypto ETF, like BITO, still carries the same risk as any crypto investment. It’s still a speculative and volatile investment. If you’re not willing to lose the money you put into crypto by purchasing on an exchange, then you shouldn’t put it in a crypto fund either. Carefully consider if you’re willing to take on the risk of having cryptocurrency in your portfolio at all.
Broader Institutional Cryptocurrency Adoption
Mainstream companies across multiple industries took interest — and in some cases themselves invested in — cryptocurrency and blockchain in 2021. AMC, for example, recently announced it will be able to accept Bitcoin payments by the end of this year. Fintech companies like PayPal and Square are also betting on crypto by allowing users to buy on their platforms. Tesla continues to go back and forth on its acceptance of Bitcoin payments, though the company holds billions in crypto assets. Experts predict more and more of this buy-in.
“We’ve seen a tremendous amount of inflow of attention, and that’s going to continue to drive the growth of the industry for a while now,” says Abner.
Some experts predict bigger, global corporations could jumpstart this adoption even more in the latter half of this year. “What we’re looking at is institutions getting involved in crypto, whether it’s Amazon or the big banks,” says Weiss. A huge retailer like Amazon could “create a chain reaction of others accepting it,” and would “add a lot of credibility.”
Indeed, Amazon has recently sparked rumors that it’s making moves to that end by sharing a job posting for a “digital currency and blockchain product lead.” Walmart is also recruiting a crypto expert to oversee its blockchain strategy.
What more institutional adoption means for investors
While paying for things in cryptocurrencies doesn’t make sense for most people right now, more retailers accepting payments might change that landscape in the future. It’ll likely be much longer before it’ll be a smart financial decision to spend Bitcoin on goods or services, but further institutional adoption could bring about more use-cases for everyday users, and in turn, have an impact on crypto prices. Nothing is guaranteed, but if you buy cryptocurrency as a long-term store of value, the more “real world” uses it has, the more likely demand and value will increase.
Bitcoin’s Future Outlook
Bitcoin is a good indicator of the crypto market in general, because it’s the largest cryptocurrency by market cap and the rest of the market tends to follow its trends.
Bitcoin’s price had a wild ride in 2021, and in November set another new all-time high price when it went over $68,000. This latest record high follows previous high points over $60,000 in April and October, as well as a summer drop to less than $30,000 in July. This volatility is a big part of why experts recommend keeping your crypto investments to less than 5% of your portfolio to begin with.
But how high will Bitcoin go? Plenty of experts say it’s only a matter of when, not if, it Bitcoin hits $100,000. Bitcoin’s past may provide some clues as to what to expect looking forward, according to Kiana Danial, author of “Cryptocurrency Investing for Dummies.”
Danial says there have been plenty of huge spikes followed by pullbacks in Bitcoin’s price since 2011. “What I expect from Bitcoin is volatility short-term and growth long-term.”
What Bitcoin price volatility means for investors
Bitcoin’s volatility is more reason for investors to play a steady long game. If you’re buying for long-term growth potential, then don’t worry about short-term swings. The best thing you can do is not look at your cryptocurrency investment, or “set it and forget it.” As experts continue to tell us each time there’s a price swing — whether up or down — emotional reaction can cause investors to act rashly and make decisions that result in losses on their investment.
The Future of Cryptocurrency
We can speculate on what value cryptocurrency may have for investors in the coming months and years (and many will), but the reality is it’s still a new and speculative investment, without much history on which to base predictions. No matter what a given expert thinks or says, no one really knows. That’s why it’s important to only invest what you’re prepared to lose, and stick to more conventional investments for long-term wealth building.
“If you were to wake one morning to find that crypto has been banned by the developed nations and it became worthless, would you be OK?” Frederick Stanield, a CFP with Lifewater Wealth Management in Atlanta, Georgia, told NextAdvisor recently.
Keep your investments small, and never put crypto investments above any other financial goals like saving for retirement and paying off high interest debt.
Assets are definitely coming into the shell:
What Phoenix assets are coming to TCRI:
Based on Munaf Ali making the announcement at the WORLD DIGITAL MINING SUMMIT 2021 it is more than likely to be crypto related.
The question now is what and how many assets?
Well that is a vey good question.
UAE-based Phoenix Technology Consultants is a very successful and profitable organization so whatever assets are coming they will be very successful and profitable and straight from the horse's mouth (Munaf Ali):
The Phoenix Group has a lot of numbers to crunch before moving assets in.
The announcement was made a couple of months ago so they have probably been working on what is to occur.
Once the decide what is coming in they have to put a price tag on it and determine how many shares will cover the price tag.
Also we don't know if Munaf Ali is just moving his and his partner assets or other people assets they have under management.
Munaf Ali acquired a US listing entity (TCRI) for the purpose of listing some of the Phoenix Group income generating assets on the US stock market. Expect to share more information in early 2022.
Under Internal Revenue Code §351, no gain or loss is recognized if one or more persons transfer property to a corporation solely in exchange for the stock in the corporation and immediately after the exchange such person or persons are in control of the corporation. The basic requirement for this tax-free exchange is that the transferor or transferors must be in control immediately after the exchange. Control, for this purpose, means the transferor or transferors must have ownership of stock possessing at least 80 percent of the total stock of the corporation. The gain or loss is not recognized when in exchange for the transferred property, the transferor receives the corporation's stock or securities.
Munaf Ali owns 84.7% of TCRI.
https://ch.marketscreener.com/boersen-barone/Munaf-Ali-0H77Y3-E/biography/
A transferor could transfer appreciated property into a corporation without recognizing a gain. For purposes of Internal Revenue Code §351, when a transferor receives securities, such securities will be treated as "boot" in all cases. Boot is other property or money the transferor receives in addition to the stock.
Permitting a nontaxable transfer to a controlled corporation will postpone the recognition of gain or loss until the stock received in the transfer is ultimately disposed of by the transferor. This is accomplished by attributing to the stock the same basis as that of the property originally transferred in exchange. More importantly, the property transferred will retain its basis in the hands of the corporation.
The first step in the transfer process is to form the corporation and the offer by the transferor of the property to the corporation. The courts have held and the Internal Revenue Service has ruled that money qualifies as property in addition to goodwill, patents, and other intangible assets constitute property for this purpose, except services.
The second step would be that the corporation's shareholders and the board of directors must accept the offer, and the board of directors must authorize the issuance of the stock upon delivery of the appropriate instruments of conveyance.
The final step is the execution and delivery of the instruments of conveyance and property. The importance of formal instruments of transfer, even in the case of a small corporation, cannot be overemphasized. Such instruments are not only a prerequisite to completing the transaction, but can record effectively the price and terms of the transaction.
What Phoenix assets are coming to TCRI:
Based on Munaf Ali making the announcement at the WORLD DIGITAL MINING SUMMIT 2021 it is more than likely to be crypto related.
The question now is what and how many assets?
Well that is a vey good question.
UAE-based Phoenix Technology Consultants is a very successful and profitable organization so whatever assets are coming they will be very successful and profitable and straight from the horse's mouth (Munaf Ali):
Agreed,
The LOI was very specific and detailed as to the the who, what, where and when.
Someone with deep pockets has been waiting in the wings with the 50 million.
The stock price has been in the shitter for months and who cares about what it did before. There is a deal on the table with a 50 million dollar price tag attached to it.
No Money
No Honey
I can't go back to my legos as I gave them to you and you clearly no know what they are.
Yes,
T Minus 24 Days:
The Parties agree to negotiate in good faith to enter into a mutually acceptable definitive agreement with regard to the subject matter contemplated by this Letter until the completion of the Term (1/26/2022).
The stock PRICE absolutely means nothing at this point in time.
What ONLY matters at this point in time is will the 50 Million be raised.
T Minus 24 or sooner.
One of two (2) things will happen:
1. RGBP will raise the 50 Million.
2. RGBP won't raise the 50 Million.
Other than as to confidentiality and good faith provisions of the LOI the parties agree that the LOI does not constitute a binding commitment by either party with respect to any transaction. The non-binding provisions of the LOI reflect only the parties’ current understanding of the contemplated transaction, and a binding contract will not exist between the Parties unless and until they sign and deliver a mutually acceptable definitive agreement. Other than to impose a duty to the parties to negotiate in good faith and to not disclose Confidential Information, no obligations of one party to the other or liability of any kind shall arise from executing this Letter or its taking or refraining from taking any actions relating to the proposed transaction.
In consideration hereof and of the time and resources that RGBP will devote to the various investigations and reviews undertaken by RGBP, it is agreed by the Parties that Canary, LLC and each of their respective affiliates, directors, officers, employees, representatives and agents will not, directly or indirectly, solicit, initiate, enter into or continue any discussions or transactions with, or encourage, or provide any information to any person or entity with respect to any proposal pursuant to which (i) Canary would obtain any debt or equity capital or (ii) Canary would be acquired, whether through a purchase, acquisition, tender offer, consolidation or other business combination or (ii) either of Canary or LLC would enter into any transaction or arrangement or otherwise approve any transaction which would result in any third party acquiring any of the outstanding equity of Canary or (iii) Canary or LLC would license, sell or in any manner encumber any of the intellectual property of Canary between the date of execution by them of this LOI and the date ending 90 days thereafter ( “Term”).
The Parties agree to negotiate in good faith to enter into a mutually acceptable definitive agreement with regard to the subject matter contemplated by this Letter until the completion of the Term (1/26/2022).
WHAT IS THE FUTURE OF CRYPTO MINING?
https://www.terawulf.com/future-of-crypto-mining/#:~:text=The%20future%20of%20crypto%20mining%20is%20one%20of,grid%20to%20manage%20higher%20proportions%20of%20renewable%20loads.
The future of crypto mining is one of growth. The need for crypto mining will increase as the use of crypto currency increases worldwide. Bitcoin mining can speed the transition to a zero-carbon future while creating green energy jobs and helping fight climate change by enabling the grid to manage higher proportions of renewable loads.
Ex-Bitmain CEO says crypto can grow to tens of trillions of dollars
https://encryptobiography.com/2021/12/27/ex-bitmain-ceo-says-crypto-can-grow-to-tens-of-trillions-of-dollars/
Jihan Wu says the future of crypto could include exponential growth to a market worth over $10 trillion.
Bitcoin’s rally to an all-time high above $69,000 led the crypto market to a landmark breakout to $3 trillion in market cap in November.
Wu says even if 95% of projects fail, the 5% that thrive will have the potential to hit a valuation in the tens of trillions of dollars.
The global cryptocurrency market capitalisation recently topped the $3 trillion mark as Bitcoin and other digital assets rallied to new all-time highs. However, the total market cap has since dipped, with Bitcoin losing over 30% of its value in a month as it dropped from highs of $69,000 to test support below $45,000.
Despite the price collapse, Wu is optimistic long term and sees the trajectory continues to be that of growth. He notes in the interview that volatility is part of the crypto market today, but as the market matures, long-term gains will dwarf any of the wild price fluctuations seen over the years.
The Future of Cryptocurrency: 5 Experts’ Predictions After a “Breakthrough” 2021
https://time.com/nextadvisor/investing/cryptocurrency/future-of-cryptocurrency/
But the industry is only in its infancy and constantly evolving. That’s a big part of why every new Bitcoin high can be easily followed by big drops. It’s difficult to predict where things are headed long-term, but in the coming months, experts are following themes from regulation to institutional adoption of crypto payments to try and get a better sense of the market.
While exact predictions are impossible, we asked five experts about what they’re paying attention to in the crypto space for the rest of 2021:
Cryptocurrency Regulation
Expect continued conversations about cryptocurrency regulation. Lawmakers in Washington D.C. and across the world are trying to figure out how to establish laws and guidelines to make cryptocurrency safer for investors and less appealing to cybercriminals.
KOOS has shown his hand:
Looking into the New Year I will work diligently towards the goal of entering into additional co-development projects and collaborations that I believe will benefit Regen's shareholders and I expect to identify a contract research organization that will help us move the Company's intellectual propriety towards clinical trials.
Status of LOI
T Minus 27 or sooner.
The Parties agree to negotiate in good faith to enter into a mutually acceptable definitive agreement with regard to the subject matter contemplated by this Letter until the completion of the Term (1/26/2022).
https://sec.report/Document/0001607062-21-000512/
TCRI 2022
Munaf Ali acquired a US listing entity (TCRI) for the purpose of listing some of the Phoenix Group income generating assets on the US stock market. Expect to share more information in early 2022.
Under Internal Revenue Code §351, no gain or loss is recognized if one or more persons transfer property to a corporation solely in exchange for the stock in the corporation and immediately after the exchange such person or persons are in control of the corporation. The basic requirement for this tax-free exchange is that the transferor or transferors must be in control immediately after the exchange. Control, for this purpose, means the transferor or transferors must have ownership of stock possessing at least 80 percent of the total stock of the corporation. The gain or loss is not recognized when in exchange for the transferred property, the transferor receives the corporation's stock or securities.
Munaf Ali owns 84.7% of TCRI.
https://ch.marketscreener.com/boersen-barone/Munaf-Ali-0H77Y3-E/biography/
A transferor could transfer appreciated property into a corporation without recognizing a gain. For purposes of Internal Revenue Code §351, when a transferor receives securities, such securities will be treated as "boot" in all cases. Boot is other property or money the transferor receives in addition to the stock.
Permitting a nontaxable transfer to a controlled corporation will postpone the recognition of gain or loss until the stock received in the transfer is ultimately disposed of by the transferor. This is accomplished by attributing to the stock the same basis as that of the property originally transferred in exchange. More importantly, the property transferred will retain its basis in the hands of the corporation.
The first step in the transfer process is to form the corporation and the offer by the transferor of the property to the corporation. The courts have held and the Internal Revenue Service has ruled that money qualifies as property in addition to goodwill, patents, and other intangible assets constitute property for this purpose, except services. The second step would be that the corporation's shareholders and the board of directors must accept the offer, and the board of directors must authorize the issuance of the stock upon delivery of the appropriate instruments of conveyance. The final step is the execution and delivery of the instruments of conveyance and property. The importance of formal instruments of transfer, even in the case of a small corporation, cannot be overemphasized. Such instruments are not only a prerequisite to completing the transaction, but can record effectively the price and terms of the transaction.
The current listing is on the OTC however based on the Phoenix's Portfolio, there will be at some point a move to the Nasdaq or other exchange. All in good time.
This is a ground floor opportunity and when Phoenix start moving assets in, this stock will move and move fast.