Business and Finance
Purple Bitcoin – Why Decentralization is the Future
Purple Bitcoin Getting into the crypto space has been a dream for many, but now is the time to be a part of the new wave of decentralization. Currently, there are many projects that are hurting because they aren’t decentralized yet.
The best way to be a part of this movement is to learn about the benefits of decentralization and what you can do to support it.
Purple Bitcoin: F.W.B. is a digital V.I.P. lounge for creatives
FWB is an online community and social club that has physical bases in New York and London. Members are selected through a rigorous process and are given a minimum buy-in of $FWB tokens.
This crypto currency gives members the ability to collaborate on projects and participate in meetups. Members have access to a number of benefits such as a digital V.I.P lounge, Discord server and newsletter.
The newsletter uses a decentralized decision-making system to decide which articles to publish. The newsletter also has a number of other features. For instance, it uses editorial democracy to decide which articles to publish. The most impressive feature of the newsletter, though, is that the results are publicly available.
It is also possible to participate in physical meetups. Members have access to FWB’s Discord server.
Using the Discord server, members can participate in live conversations with other members of the community. In addition, members can participate in the “vibes” of the community by joining the chat rooms and attending events.
FWB has been called a “decentralized Soho House” by some. In fact, it is more than a virtual club, it is a decentralized autonomous organisation. It is an experiment in novel ways to structure humans around social objectives.
Purple Bitcoin: It’s hurting bitcoin
Despite the promises of decentralization made by the founders of the blockchain technology, governments are reverting back to their old ways and becoming wary of the advance of the digital currency. They are unsure of how to use it and how to regulate it.
The price of one Bitcoin has fallen to a record low of over $60,000, and that is only a small fraction of the total value of all cryptocurrencies. The market value of all cryptocurrencies stands at over $1.5 trillion. The recent crypto market crash illustrates the risks of unregulated digital currencies.
The Bitcoin ecosystem is rife with scandals and criminal activities. Some countries have banned major banks and payment firms from doing business with crypto companies. Governments have also conducted investigations into the use of the digital currency.
The valuation of the cryptocurrency can be severely damaged if large amounts of wealth are invested in it. Wallet files can get corrupted, causing a wealthy investor to lose all of their wealth in just seconds.
In the past few weeks, the crypto market has seen a crash of $300 billion. This speaks to the wild west that the crypto space has become.
Until the Bitcoin ecosystem is able to grow and mature, governments will continue to distrust the currency. It will also remain a source of controversy.
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Business and Finance
Ahmad Rashad and Phil Knight: How They Changed the Game of Sports and Entrepreneurship
Ahmad Rashad and Phil Knight have made lasting impacts in sports and entrepreneurship. Rashad is a former NFL star and Emmy-winning broadcaster, while Knight is co-founder and chairman emeritus of Nike – an athletic footwear and apparel global leader. Their friendship is at the core of it all: both attended University of Oregon together and formed relationships that would go on to shape both of their careers and lives.
The Oregon Connection
Rashad and Knight both attended the University of Oregon during the 1960s, where they excelled in their respective fields. Rashad (then known as Bobby Moore) excelled as a versatile running back who set numerous school records and earned All-American recognition, while Knight excelled as a middle-distance runner under legendary coach Bill Bowerman; who would later become his business partner and shoe pioneer Bill Bowerman introduced them both to handmade Nike prototype shoes produced by Bowerman himself; Rashad and Knight were two of his first wearers of Bowerman’s handmade shoe creations that helped launch a brand later known by its acronym: NMD = National Athletic Department
The Sports and Business Success
Rashad and Knight completed their degrees at Oregon, then pursued their goals in sports and business. Rashad was selected by the St. Louis Cardinals to play in 1972 before going on to Buffalo Bills and Seattle Seahawks teams. He reached his prime while with the Minnesota Vikings, becoming a four-time Pro Bowl receiver and an exceptional clutch performer. Perhaps best known for his spectacular catch in 1980’s NFC Divisional Playoff game at Madison Square Garden known as “Miracle at the Met” that advanced them to play for their second NFC Championship Game victory, he is remembered fondly. After retiring from football, Rashad quickly found success as a broadcaster covering various sporting events and hosting shows such as “Inside Stuff” and “NBA TV”. Additionally, he formed a close bond with NBA icon Michael Jordan – then Nike’s face – who later became one of Rashad’s closest confidantes.
Knight pursued his MBA at Stanford University and wrote an influential paper about importing low-cost running shoes from Japan. With Bowerman as partners, they created Blue Ribbon Sports which later evolved into Nike. Knight’s vision and leadership helped Nike grow from a modest startup into an international powerhouse, producing such iconic products as Air Jordans, Air Maxs and its trademarked Swoosh logo. Knight revolutionized sports marketing by signing endorsement deals with top athletes like Jordan, Tiger Woods, Serena Williams and LeBron James. Knight stepped down as CEO in 2004 and chairman in 2016, but remains both the largest shareholder and influential force at Nike.
The Legacy and Impact
Rashad and Knight have not only achieved personal success, but have also made significant strides toward the advancement of sports and entrepreneurship. Through their passion, dedication, and ingenuity they have inspired generations of athletes and entrepreneurs. They have also given back to the University of Oregon by contributing millions to academic and athletic programs at Oregon. Rashad and Knight are examples of how sports and business can go hand in hand, with Rashad receiving two honors from Oregon University: induction into both its Sports Hall of Fame and Athletics Hall of Fame; while Knight was given both Presidential Medal of Freedom and Oregon Pioneer Awards. Friendship and loyalty between Rashad and Knight endure.
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Business and Finance
Sam Bankman-Fried Parents: Know About Barbara Fried And Joseph Bankman
Sam Bankman-Fried, an renowned entrepreneur and philanthropist known for co-founding FTX – a cryptocurrency exchange platform – in 2019, was recently arrested on several criminal charges related to fraud and money laundering. But who are his parents, Joseph Bankman and Barbara Fried – both professors at Stanford Law School? In this article we will take an in-depth look into their lives and careers as we trace Sam’s background family tree.
Joseph Bankman: A Tax Law Expert and a Clinical Psychologist
Joseph Bankman is both a professor of law and clinical psychologist at Stanford University. Specializing in tax law, he has written two casebooks in that field as well as teaching mental health law classes and writing articles on tax evasion, shelters and behavioral economics – often testifying before Congress or state legislatures himself on tax policy issues and helping draft legislation to streamline taxes while also regulating cryptocurrency industries.
Joseph Bankman was born and raised in Los Angeles. After attending Harvard College and Law School – graduating with highest distinction from both – he worked as a clerk to Judge Wilfred Feinberg on the Second Circuit Court of Appeals and Justice Thurgood Marshall of the Supreme Court before joining Stanford faculty as an associate professor in 1987 and becoming full professor in 1990. Married to Barbara Fried, they have three children together: Sam, Rachel and Daniel.
Joseph Bankman was an employee of FTX who was deeply involved with its operations. He received payments from FTX as well as legal advice for Sam Bankman-Fried and made donations using funds from both FTX and Alameda Research – another cryptocurrency trading firm co-founded by Sam – to Democratic campaigns and causes. Joseph is currently under investigation by the Department of Justice regarding an alleged FTX scam scheme.
Barbara Fried: A Law and Philosophy Scholar and a Political Activist
Barbara Fried, professor emerita of law at Stanford University. As a specialist in law, economics, and philosophy she has written numerous books and articles covering contract theory, distributive justice, legal reasoning, feminist theory constitutional law and political philosophy among other topics. Additionally she has received multiple John Bingham Hurlbut Award for Excellence in Teaching Awards three times over.
Barbara Fried was born and raised in New York City. She graduated with honors from Radcliffe College and Harvard Law School before clerking for Judge Patricia Wald of the U.S. Court of Appeals for the District of Columbia Circuit and Justice Harry Blackmun of the Supreme Court. Later she joined Stanford faculty as an instructor before becoming full professor in 1994 – retiring after 21 years to become professor emerita upon retirement in 2018. Barbara is married to Joseph Bankman with whom she shares three children Sam, Rachel and Daniel.
Barbara Fried co-founded Mind the Gap, a super political action committee, in 2018. This organization used statistical analysis to measure the dollar value influence of donations on Democrats running for House seats. Barbara assisted Sam Bankman-Fried with making large donations using funds from FTX and Alameda Research prior to 2022 midterms using funds provided through Mind The Gap. In November 2022 following Sam Bankman-Fried’s arrest and indictment she resigned from Mind The Gap while now being scrutinized over possible involvement in an alleged FTX scheme scheme.
Conclusion
Sam Bankman-Fried’s parents, Joseph Bankman and Barbara Fried, are accomplished and esteemed law professors at Stanford University. Both have also been actively engaged in political and social causes – supporting Democratic Party causes as well as cryptocurrency industry initiatives – yet their involvement with their son’s FTX business has put them in legal jeopardy while damaging their reputations; while standing firmly behind him while experiencing public criticism over their behavior and expressions in court. Now they eagerly await results of investigation and trial hoping the best for them and their family!
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Business and Finance
Motilal Oswal Financial Services: Buy Tech Mahindra Targeted Price RS 1180 Lets Explain In Details
Motilal Oswal Financial Services has issued a buy call on Tech Mahindra with an objective price target of Rs 1180. At present, the stock’s market value stands at Rs 1106.95. Motilal Oswal Financial Services advises investors to maintain their stop loss at Rs 1100.
Tech Mahindra, established in 1986, is a large-cap company (with a market cap of Rs 107651.26 Crore) operating within the IT Software sector.
Tech Mahindra’s key products/revenue segments for the year ending 31 March 2022 include Software Services.
Motilal Oswal Reports
Financials
For the quarter ended 31-12-2022, the company reported a Consolidated Total Income of Rs 13981.70 Crore, up 4.19 % from last quarter’s Total Income of Rs 13419.65 Crore and 19.77% higher than last year’s same quarter Total Income of Rs 11673.90 Crore. Net profit after tax for this latest quarter came to Rs 1294.30 Crore.
The company’s top management consists of Mr. Anand G Mahindra, Ms. Shikha Sharma, Mr. Haigreve Khaitan, Dr.Mukti Khaire, Mrs.M Rajyalakshmi Rao, Penelope Fowler, Manoj Bhat, Dr.Anish Shah, C P Gurnani and T N Manoharan; B S R & Co LLP is its auditors; as of 31-12-2022 the company had 97 Crore shares outstanding.
Investment Rationale
The stock has reversed its lower highs on both daily and weekly time frames, suggesting it may have broken out of consolidation mode on a monthly basis.
Promoters/FII Holdings
On 31 December 2022, promoters owned 35.19 percent of the company; FIIs held 27.95 percent and DIIs 23.54 percent stake respectively.
(Disclaimer: Any recommendations given in this section or reports attached herein have been authored by an external party and do not represent the views of Economic Times (ET). ET does not guarantee, endorse, or support any of their contents and expressly disclaims all warranties, express or implied, related thereto. We advise you to consult your financial adviser for independent advice before making any decisions.
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