After discovering that ten holding companies related to FTX Digital and Alameda Analysis invested roughly $5.4 billion into practically 500 companies and tasks, individuals have been interested in a number of particular investments. One particular funding made by FTX Ventures Ltd. was for $25 million into the Ohio-based agency 80 Acres, an organization that makes a speciality of vertical farming. Evidently 80 Acres Farms was partnered with a Bahamian hydroponic producer referred to as Eeden Farms, and Ryan Salame, the co-chief government officer of FTX Digital Markets, toured 80 Acres farm in Ohio with the Bahamian prime minister Philip Davis.
A Have a look at the Ties Between FTX Ventures, FTX Co-Chief Govt Officer Ryan Salame, and a couple of Particular Vertical Farm Corporations
The Monetary Instances (FT) just lately revealed paperwork that present FTX Digital’s and Alameda Analysis’s portfolio of investments, which provides as much as a whopping $5.4 billion. Among the many lots of of investments, FTX and Alameda invested in corporations that weren’t associated to the crypto and the blockchain business.
A type of investments was 80 Acres Farms, a vertical farming firm that gives produce to grocery shops like The Recent Market, Kroger, and Complete Meals. The 2 co-founders of 80 Acres had been just lately featured in a BBC “Observe the Meals” section.
Now individuals would possibly marvel why a cryptocurrency agency, and extra particularly FTX Ventures Ltd., invested in an organization that grows produce utilizing hydroponics in vertically stacked layers. It’s not totally clear why, however it’s public information that Ryan Salame, the co-chief government officer of FTX Digital Markets, visited the corporate’s farm in January 2022.
Because the Authorities stays dedicated to the development of the Inexperienced Financial system in The Bahamas, Prime Minister Davis and Honorable Clay Sweeting just lately toured the flagship 70K Farm owned by 80 Acres Farms.
In accordance with The Tribune, in January 2022, Salame and the Bahamian prime minister Philip Davis toured 80 Acres Farms with the Bahamian minister of agriculture Clay Sweeting, and the homeowners of a Bahamian hydroponic agency referred to as Eeden Farms. Tribune enterprise editor Neil Hartnell defined 80 Acres farm in Ohio was to function a mannequin for Eeden Farms on Nassau’s Gladstone Highway.
80 Acres is an Eeden Farm companion and this yr, the Bahamian hydroponic producer rebranded its farm to Eeden Acres on Jan. 24, 2022. Hartnell detailed that authorities officers from Ohio had been additionally current on the 80 Acres tour, alongside executives from Sysco Bahamas. So far as the Bahamas was involved, Hartnell defined that Eeden and 80 Acres would “make investments $60m in growing a 71,000 sq. foot facility capable of develop ‘300 occasions extra meals’ than a standard farm.”
Lincoln Deal, Eeden Farms’ co-founder, instructed The Tribune that the land for the farm “is in hand.” A couple of months previous to the Cincinnati 80 Acres farm tour, FTX relocated its headquarters from Hong Kong to The Bahamas in September 2021. The paperwork FT revealed this week present that 80 Acres obtained $25 million from FTX Ventures in an fairness funding.
Moreover, Salame reportedly gave $22 million to Republicans for the 2022 midterm election cycle, in response to opensecrets.org knowledge. Salame, a Sandisfield Massachusetts native, was identified for being a giant spender as he owned 4 eating places and roughly six properties in Lenox, in response to The Berkshire Eagle. It’s not totally identified what relationship FTX Ventures and Salame had with 80 Acres, but it surely appears Salame was fairly concerned with Eeden Acres’ and 80 Acres’ ventures.
Eeden Farms’ web site is presently down and the corporate’s social media pages haven’t posted in a very long time. On Instagram, Eeden’s final submit was in June 2021, on Fb Eeden’s final posts had been revealed that very same month, and Eeden’s final submit on Twitter was in February 2022.
On the corporate’s Fb web page, Eeden’s web page identify known as Eeden Acres, and it exhibits 3D mock-up images of an Eeden Acres constructing with a roof totally lined in photo voltaic panels. Eeden’s co-founder Lincoln Deal recently talked about “the disruptive adjustments within the agricultural business” on the College of The Bahamas, the identical day FTX’s monetary troubles ensued.
Throughout his interview with Mario Nawfal’s Twitter Areas crew, FTX co-founder Sam Bankman-Fried admitted that withdrawals to Bahamian residents came about earlier than FTX totally collapsed, and presumably on two events. In a two-part interview with Tiffany Fong (here and here), SBF defined FTX execs codified the Bahamian withdrawals as a result of he didn’t need to reside on an island with indignant residents.
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What do you consider the connections between FTX Ventures, Ryan Salame, Eeden Farms, and 80 Acres Farms? Why do you suppose the co-chief of a crypto alternate would go to a vertical farm plant in Ohio with The Bahamas’ PM? Tell us what you consider this topic within the feedback part under.
Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist residing in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized purposes. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information in regards to the disruptive protocols rising in the present day.
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The Ethereum scaling community Optimism, which operates as a layer two (L2) community, introduced plans to improve its community in March. The improve, named “Bedrock,” goals to extend switch velocity, decrease charges, and improve compatibility with the Ethereum Digital Machine (EVM). The Optimism Basis said in its proposal, “The Bedrock improve is a serious step in direction of a multi-chain future.”
Optimism’s Bedrock Improve: Optimizing Switch Charges and Bettering Node Efficiency
Optimism, the L2 Ethereum scaling answer, plans to improve its community in mid-March 2023 with a brand new ruleset change referred to as Bedrock. On Feb. 1, 2023, the Optimism Basis tweeted concerning the proposal, stating, “The Optimism Basis has proposed the primary protocol improve to the Optimism Collective: Bedrock.” In one other tweet, the official Optimism Twitter account expressed pleasure about presenting the proposal to the Token Home. Optimism’s tweet adds:
We see Bedrock because the fruits of years of R&D—and the following essential step in direction of a modular, simplified, and performant multi-chain future.
The Optimism Basis’s improve proposal particulars the primary official launch of the OP Stack, a set of modular parts powering Optimism. Bedrock goals to enhance switch charges by optimized information compression, scale back deposit occasions by dealing with L1 re-orgs extra effectively, allow modular proof techniques, and improve node efficiency. The proposal highlights that Bedrock goals to keep up shut compatibility with Ethereum.
The Bedrock improve, the primary official launch of the OP Stack, will help Ethereum-centric design rules like EIP-1559 and modularity. Based on Optimism’s Twitter account, the improve is predicted to take roughly 4 hours and won’t require a “regenesis.” Finish-users of Optimism don’t must take any motion, and historic chain information will stay accessible after the improve. The Goerli testnet for Optimism has already undergone a profitable improve to Bedrock with out main points, in response to Optimism builders.
What are your ideas on Optimism’s upcoming Bedrock improve and its potential impression on the way forward for the L2 community? Share your ideas about this topic within the feedback part beneath.
Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist dwelling in Florida. Redman has been an energetic member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 6,000 articles for Bitcoin.com Information concerning the disruptive protocols rising as we speak.
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Meta Masters Guild’s presale has already raised greater than $2.5 million. Meta Masters Guild is an progressive blockchain gaming platform that runs on the Ethereum blockchain. The platform is powered by its native token often known as MEMAG.
Meta Masters Guild presale hits $2.5 million
The play-to-earn gaming sector has grown considerably over the previous few years. Meta Masters Guild is a P2E challenge that seeks to remodel the business by giving gamers entry to thrilling prizes corresponding to in-game currencies and non-fungible tokens (NFTs).
Meta Masters Guild is a gaming platform operating on the Ethereum blockchain, and it’s powered by its native foreign money often known as MEMAG. The continuing MEMAG presale is already successful, on condition that only a few days after the presale surpassed the $2 million mark. It has now raised over $2.52 million.
The MEMAG presale is within the fourth stage, with two days left earlier than the value will increase within the fifth stage. On the present stage, 1 MEMAG is priced at 0.016 USDT, and the value will enhance progressively within the subsequent stage, the place 1 MEMAG shall be priced at 0.019 USDT, representing an 18.75% enhance.
Given the speed at which this presale is promoting out, potential traders are dashing to take part earlier than the presale closes and the value will increase. MEMAG is an effective funding for each the short-term and the long-term due to its strong fundamentals.
MEMAG is ready for main features in the long run amid strong fundamentals
All of the video games which are supported by the Meta Masters Guild platform shall be powered by the MEMAG token, which makes this token a great funding. The gamers can commerce the MEMAG token for Gems, the in-game rewards foreign money for the platform.
Whereas the MEMAG token powers the Meta Masters Guild platform, Gems will enable the platform to face out from different competing platforms. The purpose behind the platform is to create a singular Web3 gaming expertise, permitting gamers extra management over their digital objects.
Meta Masters Guild has strong fundamentals
Meta Masters Guild has strong fundamentals due to its distinctive presence within the gaming world. The platform targets cellular play-to-earn players and is ready to realize notable progress as a result of the manufacturing prices are considerably decrease in comparison with conventional console video games.
The builders behind Meta Masters Guild are centered on creating a strong and interesting gaming platform. The video games shall be entertaining and enhance engagement with the opposite gamers. These video games may also have a excessive retention fee over lengthy durations, making them preferable to the opposite competing platforms.
Meta Masters is ready to launch its video games this yr. The video games that the workforce presently has beneath growth embody Meta Kart Racers, Meta Masters World, and Raid NFT, that are metaverse-focused video games which are set to realize vital progress. The rising recognition and use of those video games may imply notable features for MEMAG.
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The neighborhood is hopeful that XRP may very well be relisted on Coinbase following the success of legal professional John E. Deaton who gained what’s believed to be regulatory readability relating to secondary market gross sales of cryptocurrencies earlier this week.
Within the authorized battle between blockchain-based content material sharing and publishing platform LBRY and the U.S. Securities and Alternate Fee, Deaton and LBRY scored a serious victory for your entire crypto business. As Bitcoinist reported, the lawyer participated as an amicus of tech journalist Naomi Brockwell within the listening to on cures within the case LBRY v. SEC.
LBRY’s authorized workforce and Deaton succeeded in getting the SEC to substantiate on the report that secondary market gross sales of cryptocurrencies, for instance by exchanges, don’t represent securities transactions.
In consequence, voices have now been raised in the neighborhood that Coinbase, as the biggest American trade, ought to relist XRP. The unique name got here from LBRY, which wrote by way of Twitter:
Coinbase ought to relist XRP. Below the SEC vs LBRY customary, XRP bought by secondary holders just isn’t a safety.
Unsurprisingly, the tweet has triggered a flurry of comparable calls throughout the neighborhood. For instance, one Twitter consumer wrote, “Coinbase shareholders deserve XRP to be traded once more. Let’s go Coinbase make a stand!”, and shared a screenshot of Coinbase the place a “Buying and selling Not But Obtainable” button may be seen under the XRP worth chart – circling “but” and thus speculating on an upcoming relisting.
Will Coinbase Relist XRP Promptly?
It is very important know that Coinbase was by no means (formally a minimum of) compelled to delist XRP. Coinbase merely selected to delist the token as a result of they felt the chance of a lawsuit in opposition to themselves was too excessive on account of the SEC lawsuit in opposition to Ripple.
Subsequently, whereas Coinbase can theoretically relist XPR at any time, Coinbase will proceed to stick to its danger evaluation. Whether or not the assertion from the U.S. Securities and Alternate Fee within the LBRY case shall be sufficient for the biggest U.S. trade to relist XRP is questionable, a minimum of.
As of press time, Coinbase has not but responded to LBRY’s tweets or different tweets from the neighborhood. Nevertheless, Coinbase CEO Brian Armstrong retweeted a tweet from Haun Ventures as just lately as Tuesday, January 31.
“Crypto founders have spent years asking policymakers for regulatory readability. That purpose acquired nearer this week-just not in the US.” The retweet suggests that there’s nonetheless not sufficient regulatory readability, in Armstrong’s opinion.
Given the chance, it’s seemingly that the trade will look forward to the result of the Ripple case. Ripple authorized counsel Stuart Alderoty just lately said that he expects a call within the first half of the 12 months. As reported, all paperwork have been briefed and solely the choose’s determination is pending.
At press time, the XPR worth was at $0.4146, nonetheless buying and selling under the essential resistance at $0.43.
Featured picture from iStock, Chart from TradingView.com