Grant Cardone warns of biggest real estate correction of his life but sees tremendous opportunity' for some

Prolific real estate investor Grant Cardone is sounding the alarm on significant changes within his industry.

During a recent conversation on Fox Business with host Charles Payne, Cardone shared a grim forecast for the real estate market.

Were going to have the biggest real estate correction we've ever had here in the next 12 months, he said. It'll be monster, and it will hit Gen Zs in a way that they'll never touch that asset class again.

The implications of major real estate downturns are profound, as evidenced by the Great Recession in the late 2000s in which millions of Americans defaulted on their mortgages and lost their homes.

This time, however, Cardone believes the impact will be unprecedented and focused primarily on larger developments rather than single-family homes. And if Cardones predictions are true, a certain group of investors are likely to benefit from this correction.

For most people, the single-family home is still thought of as the most accessible and familiar real estate asset. Multi-unit properties, by contrast, have typically been beyond the reach of the average American.

However, Cardone believes this dynamic is set to change.

You have major institutions that are releasing assets back to regular, ordinary, everyday people, he said. Institutions are having to let those properties go because their debt is due.

According to Cardone, this presents a tremendous investment opportunity for regular Americans. He even thinks it could serve as a gateway to substantial opportunities for all age groups, particularly Gen Z.

This is true generational wealth redistribution, he argues.

Cardone is no stranger to making bold statements. After all, the man once called buying a home the worst investment people can make.

Instead, Cardone favors rental properties, seeing them as a more robust investment. In fact, despite anticipating a significant market correction, he remains confident about the future of this asset class.

I'll make a prediction right now real estate will be the number one [investment] category by the year 2026, for all age groups. I guarantee it, he told Payne, outlining several of its advantages.

Its easy to leverage, protects you against inflation, benefits from rent increases, and provides cash flow that people have to have today, said Cardone.

He makes a compelling argument: real estate is widely recognized as an effective hedge against inflation. As the price of raw materials and labor goes up, new properties are more expensive to build. This can drive up the price of existing real estate.

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Well-chosen properties offer more than just potential for price appreciation. Investors also get to earn a steady stream of rental income. Plus, rental rates typically rise with inflation, further enhancing the investments value over time.

The best part? You dont need to be a real estate mogul like Cardone to own rental properties. These days, there are many real estate investment trusts (REITs) and crowdfunding platforms that enable everyday Americans to earn rental income without becoming a landlord.

So, while there may be some facts to face for single-family homeowners over the next year, there could be a new investment to seize just a few blocks away.

This article provides information only and should not be construed as advice. It is provided without warranty of any kind.

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Grant Cardone warns of biggest real estate correction of his life but sees tremendous opportunity' for some - Yahoo Finance

Ethereum co-founder Vitalik Buterin has come under fire over a new controversial subject he waded into recently. As an outspoken nerd, one of the commenters on his post about COVID-19 has advised him to stick to core blockchain subjects.

The conversation started when the Ethereum innovator posted a photo of him on X with a special face mask. He said while the world needs to do more to clean up indoor air, he gave a thumbs up to a face mask innovator Zhou Liangs Mask.

The face mask essentially measures C02 in the immediate surroundings. It is also designed to protect the user from inhaling the bad air in the environment. It also helps detect the COVID-19 variants in atmosphere which to Buterin has continued to evolve. Despite the positive intention from Vitalik Buterin, he got canceled out by the community.

One user asked how this conversation will help the industry as a whole. This statement possibly stemmed from the global disparity and reception of COVID-19 vaccines. However, Vitalik Buterin has a deep interest in COVID-19 amelioration.

As reported by Coingape, the Ethereum founder once donated up to $1.2 billion in Shiba Inu and other tokens to COVID-19 non-profit in India. This donation comes off as one of the many attempts to find solution to real world problem by Buterin.

He is known to withdraw funds from some of his public addresses to fund research ventures. In the controversial thread on X, he hinted that researchers working to keep COVID-19 strains under do not get enough support. This suggests he might likely consider funding some of these startups or founders.

Besides his core support for cryptocurrencies, Vitalik Buterin is also interested in innovations that better human life in general. Beside public health, he is also known to publicly advocate for privacy, especially on general-use social media platforms.

He has also joined the call on developers to properly anchor the use cases for memecoins for the greater good.

Read More: Vitalik Buterin Proposes Requirements For Meme Coin Dominance

Originally posted here:

Vitalik Buterin Faces Community Rage Over COVID-19 Post - CoinGape

Speaking at a podcast named Making Markets today, July 13, Binance CEO Richard Teng shared vital insights on crypto developments post-CZ (Changpeng Zhao) era. The former Abu Dhabi regulator talked about crypto adoption and regulation, global adoption trends, and many other things.

Heres a brief report on the podcast that appears to have promptly gained significant traction across the industry.

Speaking with Eric Golden, the host of Making Markets, Teng shared insights on Binances journey from a startup to an industry behemoth. Further, Teng highlighted how 2024 came as a landmark year for the crypto industry. This statement is primarily attributable to the approval of spot Bitcoin ETFs and many more digital asset-based ETFs in the pipeline despite regulatory scrutiny. Aligning with this, the former Abu Dhabi regulator appears to be highly bullish on the crypto industrys future and its global consideration as a prominent asset class.

Meanwhile, the CEO also talked about how Binance recently encountered regulatory challenges in the U.S. in its money laundering saga. ChangPeng Zhao, the former face of the crypto exchange, took regulatory heat that caused his downfall. However, Teng stressed that as an exchange, it only grew and learned from the past.

Further, gauging in on its colossal user base, the CEO proclaimed that the global trust does not come overnight, but instead is a result of constant actions taken by the firm to streamline user experience. On the other hand, zeroing in on one of the hottest topics around the CEX

, the arrest of Tigran Gambaryan, Teng assured that the firm is doing everything in its power to bring the detained executive back to his home.

Also Read: Binance CEO Remains Bullish Despite Sluggish BTC Price Action, Heres Why

Notably, regulatory challenges have become quite a hurdle in todays crypto landscape. Each nation, aiming for the betterment of its citizens, has rolled out various regulations. However, Teng stated that Binance allows those regulations and adheres to them, shadowing the motive of offering users a protected and safe experience with digital asset investments.

Moreover, when asked about the effect of ETF approval on exchanges operations, particularly the cannibalization of market participants magnetized towards ETFs, Teng stated that the cannibalization effect remains minimal. Spotlighting cryptos 247 nature, Teng thinks that although ETFs serve as a great opportunity, traditional investment products have limitations.

Richard Teng concludes by saying that the crypto exchange has well-established relations with regulators across the globe, but it continues to stay nimble and is looking for opportunities to grow.

Also Read: Binance CEO Confirms Continued Support For USDC In EU

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Binance CEO Shares Developments In Post-CZ Era and Crypto Outlook - CoinGape

The past few years for Binance, the largest crypto exchange by trading volume, have been one for the books. They have been marked by intense regulatory drama across various jurisdictions, which has resulted in hefty sanctions and penalties for the exchange, such as the ousting of its founder from his executive position, operational license suspensions, and the exchanges exit from several key markets.

Despite the challenges, Binance has continued to grow, and it is now celebrating a major milestone that highlights its resilience over the years.

Celebrating the exchanges seventh-year anniversary, Binance CEO Richard Teng reflected on the exchanges accomplishments since its inception.

At the heart of his reflection is an appreciation for the exchanges journey since its launch in 2017, evolving from ground zero to its current status as one of the industrys foremost exchanges. Teng highlighted several of Binances notable achievements, including its accumulation of a 200 million global user base and exceeding $100 billion in fund holdings.

While the exchange is renowned for its major regulatory troubles across various regions, the CEO asserted that Binance has made substantial progress in its regulatory foothold. He emphasized that the exchange has placed an even greater focus on compliance, even collaborating with global authorities to combat illicit activity across the industry.

Binance has also recorded a significant 36% increase in institutional registrations this year, alongside increased utilization of its educational platform, Binance Academy.

The celebrations were not Tengs only focus, as the CEO charted an optimistic outlook for the exchanges future.

Looking to the future, Binances recently appointed CEO has outlined the exchanges key focus areas. Teng emphasized that the exchange is gearing up for the next phase of the industry and aims to remain at the forefront to accommodate evolving trends.

The industry is expected to attract more large-scale investors and capital, driven by the growing institutionalization of digital assets and greater regulatory clarity. To accommodate the expanding ecosystem and participants, Binance will prioritize enhancing user experience, providing accessible crypto knowledge, and improving customer support.

CEO Teng further asserted that the exchange will maintain its leadership position in the coming years. With the trust and support of our global community, we are confident that our first seven years of hard work have laid a solid foundation for even greater success on the path of expanding financial freedom and inclusion. Weve only just begun, he remarked.

Despite its many troubles, Binance has undoubtedly cemented its place as an industry leader. However, the exchange still faces several regulatory woes, and its ability to successfully navigate these challenges and maintain positive momentum will determine its ability to retain its position.

Read more about the Binance executive detained in Nigeria Binance Gambaryans Health At Risk as Test Results Denied

Find out more about BitMEXs counter of the DOJs regulatory violation claims: Old News: BitMEX Dismisses Guilty Plea to AML Violations

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Binance CEO on 7th Anniversary: Weve Only Just Begun - DailyCoin

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The coolest thing about torrenting site ThePirateBay is that it really does operate like a pirate ship. When one jurisdiction forces it offline, it pops back up under a different domain.

At least in one point in time, ThePirateBay itself didnt own any actual servers. Its operators instead chose to spread the sites functionality across 21 virtual machines hosted around the world by various commercial cloud providers.

If one of the hosts pulled out, those virtual machines could be easily deployed to a different provider. More importantly, though, it meant there were no physical servers for police to seize.

And besides, the virtual server structure meant the actual cloud hosts keeping ThePirateBay online were unaware they were even hosting the torrenting portal further insulating it against police.

Binance has operated under similar mystique. For the longest time, the company had claimed to have no headquarters, something new CEO Richard Teng walked back after taking over from founder and CEO Changpeng Zhao, whos currently serving a four-month prison sentence in California.

Like ThePirateBay, Binance bounced between jurisdictions for years, from China to Japan and Malta, before all three eventually pushed the exchange to mosey on somewhere else. Dubai is currently tipped as the next potential destination to dock, although there hasnt yet been any official announcement.

All this might explain why the SEC was so eager to cut Binance off from its primary stablecoin provider, the New York-headquartered Paxos, by threatening to take it to court to prove that BUSD was an unregistered security.

And that really worked: BUSD was the seventh largest cryptocurrency by market cap, worth $16.1 billion, before the SEC sent its Wells notice to Paxos in February 2023. Paxos stopped minting new tokens and over the next month, BUSD holders redeemed about half the supply. By January this year, there was only $100 million in circulation.

But while the US has seemingly thrown anything that might stick at Binance and Zhao, there appears to have been little impact on Binance user activity.

After collating the exchanges monthly proof of reserves disclosures, its clear that Binance hasnt skipped a beat, at least in terms of user capital on the platform.

Binance disclosed $115 billion in user funds at the start of July, up from $61 billion one year ago, and $45.6 billion when reports first surfaced of a years-long DOJ investigation in December 2022.

Other stablecoins including TrueUSD, USDT and FDUSD plugged the gap left after Paxos wound down BUSD, with the latter two headquartered outside the US. TrueUSD meanwhile fell out of favor, leading to a number of delistings earlier this year.

In any case, as Zhao waits out the rest of his sentence, the makeup of user funds on the platform is morphing, with the data indicating that the general consensus is to hold.

Bitcoin made up 18% of user funds in December 2022 now its over one-third. Similarly, BNB went from 14% to 20%, while ETH has stayed largely unchanged at about 14%, presumably on account of lackluster price growth compared to bitcoin and BNB.

The real tell is that only one-fifth of all user funds on the platform are currently stablecoins $24.4 billion down from more than half before Zhaos troubles really began. That means 80% of Binance user funds are held in non-dollar-pegged crypto assets.

Clearly, users are confident after the SEC and DOJs actions, not only that everything at Binance is above board, but that prices will rise from here.

David Canellis

Paxos is getting off scot-free after the SEC said it wouldnt pursue legal action against the company.

Lets back up for a second. The SEC issued Paxos a Wells notice last February. This came, obviously, before the SECs case against Binance in June.

I mention this because the SEC, in its complaint against Binance, alleged that BUSD was a security.

Thereve been some interesting developments in that case as well.

Last month, Judge Amy Berman Jackson the judge overseeing the Binance case ruled against a motion to dismiss filed by Binance and its US entities. However, there were a few curveballs hidden in her ruling.

Jackson wrote that the SEC didnt plausibly allege that BUSD was offered and sold as an investment contract.

The SEC makes the vague assertion that Binance used at least a portion of those returns to enable and promote the Binance ecosystem, which it says gave BUSD its potential profit, but it does not explicitly link the value of the token which was tied to the US dollar to the success of the platform, she said.

The SEC, at the hearing on the motion to dismiss, also tried to argue that it wasnt claiming BUSD by itself was a security but rather that it was sold as a package that promoted a profit-making program.

Judge Jackson, in denying the charge regarding BUSD sales, clearly decided that there wasnt enough to support the claims.

Unfortunately, the BUSD of it all is a bit of a moot point, given that Paxos quickly shut down its Binance partnership and stopped issuing the stablecoin in late February of last year.

But theres no doubt the SEC dropping the investigation is a win for Paxos.

Paxos Trust Company has always maintained that its USD-backed stablecoins are not securities under federal securities laws and that the Wells Notice was unwarranted and unjustified, the company said in a statement.

Does this mean that the SEC is potentially abandoning the ability to label stablecoins as a security?

The SECs decision to not bring an enforcement action against Paxos signals that it may consider that USD-backed stablecoins are not securities. If the question of whether stablecoins are securities is definitively answered, the SEC would provide a necessary degree of regulatory certainty to this asset class, said David Oliwenstein, partner at Pillsbury Law.

But others say its still unclear. Right now, theres too little information to read deep into that scenario confidently.

The declination letter is a significant victory for Paxos and what should be viewed as encouraging to the industry, even though it doesnt establish with any certainty that any specific type of stablecoin is or is not a security, Andrew Hinkes, partner at K&L Gates, said.

If you wanted to look on the positive side, then one might even think the SEC was somehow being thoughtful in its approach to regulating the industry. Or maybe its just acknowledging that BUSD is DOA at this point.

Either way, its Friday.

Katherine Ross

Taking a page from the Gensler playbook?

That was the impression I couldnt quite shake whilst following Rostin Behnams testimony yesterday before Congress.

According to Fox Business Eleanor Terrett, the CFTC chief reportedly said that 70-to-80% of the crypto market comprises non-securities. A bold statement, and suggestive of the idea that theyre commodities instead and thus under the agencys purview. Behnam might also be signaling that the CFTC is basing this reasoning on market capitalization, with BTC and ETH comprising the bulk of the pie.

Sound familiar? That kind of expansive terrain-charting is reminiscent of Genslers frequent citation that most of the crypto market consists of, well, securities a declaration that would make it largely the SECs beat instead.

Its certainly curious of Behnam to make such statements, especially as if some Congress has its way the two agencies will be required to join forces in some areas on crypto oversight.

Perhaps the jockeying for position, and money, has already begun.

Michael McSweeney

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Empire Newsletter: What the SEC dropping its Paxos probe really means - Blockworks

Edible Garden AG Incorporated

Experience the innovative flavors of Pulp yourself at Booth #117 at the 2024 Organic Produce Summit today at the Monterey Conference Center

2024 Organic Produce Summit

2024 Organic Produce Summit

BELVIDERE, NJ, July 11, 2024 (GLOBE NEWSWIRE) -- Edible Garden AG Incorporated (Edible Garden or the Company) (Nasdaq: EDBL, EDBLW), a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products, today announced that it will exhibit its line of flavor enhancing, sustainable, gourmet, USDA Organic, Pulp fermented sauces and chili-based products, at the 2024 Organic Produce Summit, Booth #117, in Monterey, California.

The Organic Produce Summit is the only event exclusively dedicated to connecting buyers and suppliers in the organic fresh produce industry. The conference is designed to foster networking, education, and the exchange of information within the organic produce industry. The summit includes educational sessions and a trade show floor where various exhibitors showcase their products and services. It aims to address current trends and challenges in the industry, including sustainability practices and innovative technologies in organic produce.

At Edible Garden, innovation drives everything we do, stated Jim Kras, Chief Executive Officer of Edible Garden. In a product category projected to grow from $172.79 billion in 2021 to $240.7 billion by 2028 according to Research and Markets, no company is more innovative than Edible Garden in a category not typically known for innovation. In a short period of time since its initial launch, Pulp's USDA Organic, raw, and fermented products have transformed the way consumers experience condiments, standing out from conventional options. Edible Garden is committed to pushing the boundaries of flavor and quality, making Pulp a must-try for food enthusiasts and health-conscious consumers alike. The product line has become widely available at Whole Foods Market, Morton Williams, Dierbergs Markets, Target, Woodmans, and Meijer. Retailers of all sizes can offer our Bland to Bold Pulp product line to their customers through several major distributors, including KeHE Distributors, a leading distributor of natural, organic, specialty, and fresh products, and UNFI Distributors, one of North Americas top grocery wholesalers of health and specialty foods. These distributors further broaden consumer access to the product line, in addition to our Pulp e-commerce platform, which allows consumers to directly purchase all of our distinct and flavorful products online."

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"I invite all attendees of the 2024 Organic Produce Summit at the Monterey Conference Center in Monterey, California, to visit the Edible Garden Booth #117 where you will have the opportunity to experience the innovative flavors of Pulp firsthand. Discover why consumers who value flavor-forward, sustainable, and organic options are turning to Pulp as their go-to choice for condiments. Our team will be on hand to showcase the unique qualities of our USDA organic, raw, and fermented products, and explain how we are pushing the boundaries of flavor and quality in a category that has long been stagnant. Don't miss this chance to taste the future of condiments and learn more about our commitment to environmental stewardship and product innovation. See for yourself what sets Pulp apart and why its capturing the hearts and taste buds of food enthusiasts and health-conscious consumers alike."

A copy of the Companys latest corporate video is also available here.

ABOUT EDIBLE GARDEN EdibleGarden AG Incorporated is a leader in controlled environment agriculture (CEA), locally grown, organic, and sustainable produce and products backed by Zero-Waste Inspired next generation farming. Offered at over 5,000 stores in the US, Edible Garden is disrupting the CEA and sustainability technology movement with its safety-in-farming protocols, use of sustainable packaging, patented GreenThumb software and self-watering in-store displays. The Company currently operates its own state-of-the-art greenhouses and processing facilities in Belvidere, New Jersey and Grand Rapids, Michigan, and has a network of contract growers, all strategically located near major markets in the U.S. Its proprietary GreenThumb 2.0 patented (US Nos.: US 11,158,006 B1, US 11,410,249 B2 and US 11,830, 088 B2) software optimizes growing in vertical and traditional greenhouses while seeking to reduce pollution-generating food miles. Its proprietary patented (U.S. Patent No. D1,010,365) Self-watering display is designed to increase plant shelf life and provide an enhanced in-store plant display experience. Edible Garden is also a developer of ingredients and proteins, providing an accessible line of plant and whey protein powders under the Vitamin Way and Vitamin Whey brands. In addition, the Company offers a line of sustainable food flavoring products such as Pulp gourmet sauces and chili-based products.

For more information on Pulp products go to https://www.pulpflavors.com/. For more information on Edible Garden go to https://ediblegardenag.com/.

Forward-Looking Statements This pressrelease contains forward-looking statements, including with respect to the Companys growth strategies, ability to expand its distribution network and distribution relationships, and performance as a public company. The words believe, expect, intend, look forward, objective, plan, seek, strategy, will, and similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to a number of risks, uncertainties, and assumptions, including market and other conditions and the Companys ability to achieve its growth objectives. The Company undertakes no obligation to update any such forward-looking statements after the date hereof to conform to actual results or changes in expectations, except as required by law.

Investor Contacts: Crescendo Communications, LLC 212-671-1020 EDBL@crescendo-ir.com

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Edible Garden, The Flavor Maker, Transforming the Fresh Condiments Product Category with Pulp Flavors Line of USDA Organic, Fermented &...

This week saw an upsurge in executive moves, appointments, departures, and promotions across multiple sectors. Major moves were experienced in the forex, fintech, cryptocurrency, digital banking, and financial consultancy space.

MultiBank Group's Chief Development Officer Ruslan Abuzant exited the firm; Former CFDs CEO joined BlockFills as UAE GM; Nium tapped Spencer Hanlon as Chief Operating Officer to drive its global expansion; Binance FZE's General Manager Alex Chehade will exit after two Years; XTX Markets welcomes the Former Barclays CEO as Director.

Elsewhere, Finom named ex-Revolut executive as Sales Chief; Capital.com onboarded Campbell MacPherson as CEO for Australian operations; the 3-month-old liquidity provider hired ex-M4Markets executive as CEO; Stephen Williams switched from IG to Capital.com after six years; amana tapped Jack Saidy as Director of Operations for Lebanon; Delta Capita brought London Stock Exchange Veteran as New CFO.

Check out our executive move segment for this week, as we bring to you highlights from notable industry appointments, departures, and promotions.

MultiBank Group's Chief Development Officer Ruslan Abuzant stepped down after serving for two years in the company. Abuzant joined the group in 2022 and has held several roles, including Head of Information Technology, Head of Product Development, Chief Strategy Officer, and Chief Development Officer.

Ruslan Abuzant, Source: LinkedIn

Commenting about his departure, Abuzant said: "After two incredible years, today I announce my departure from Multibank. It has been an honor to be part of such a dynamic and dedicated team. I am immensely grateful for the opportunity to meet and work alongside each and every one of you." MultiBank offers a range of online trading financial products, including forex, commodities, and CFDs.

Discover more about MultiBank Group's Chief Development Officer Ruslan Abuzant exit from his role and the recent developments at the firm.

Demetrios Zamboglou joined BlockFills as the General Manager for the UAE operations. Zamboglou, who held executive positions in multiple forex and contracts for differences (CFDs) brokers, has assumed the Dubai-based role. His most recent role was serving as the Group Chief Executive Officer at Doto, a Cyprus-based FX and CFDs broker.

Demetrios Zamboglou, the General Manager for UAE at BlockFills

He was also the Group Chief Operating Officer at CFI Financial Group for a couple of years. BlockFills offers digital asset trading, technology, and liquidity solutions. Recently, the firm integrated Centroid Solutions' institutional-grade connectivity platform, Centroid Bridge, to offer brokers and institutional clients a centralized environment for price management, execution, and comprehensive reporting.

Learn more about Demetrios Zamboglou's entry into BlockFills as the General Manager for the UAE.

Cross-border payment firm Nium onboarded Spencer Hanlon as its Chief Operating Officer (COO). Hanlon, who was previously instrumental in expanding Nium's travel business, will oversee the scaling of the company's operations globally. His extensive experience includes leadership roles at British Airways and AirPlus International. Hanlon will succeed Pratik Gandhi.

Spencer Hanlon, Source: LinkedIn

Commenting about the changes, Prajit Nanu, the Founder and CEO of Nium mentioned: "Spencer has been an integral part of Nium for the past three years, demonstrating exceptional cross-functional leadership and a deep understanding of what it takes to scale. Appointing Spencer to COO was a natural decision. His vision and dedication have been invaluable to our success, and I am confident that under his leadership, we will continue to achieve outstanding results."

Reveal more about Nium's appointment of Spencer Hanlonas as Chief Operating Officer.

Alex Chehade, the General Manager of Binance FZE in Dubai, will reportedly depart from the crypto asset exchange at the end of July. Chehade, who played an important role in securing the Dubai Virtual Assets Regulatory Authority (VARA) license, has been with Binance for two years.

Alex Chehade, Source: LinkedIn

Chehade joined Binance FZE in June 2022, and under his leadership, the platform secured the VARA license in April, positioning it among 18 other organizations approved as Virtual Assets Service Providers (VASP) by the Dubai regulatory authority. Sources said that Chehade was seen as a potential future board member of Binance, making his departure unexpected.

Disclose more about the exit of Binance FZE's General Manager Alex Chehade and the recent developments at the firm.

XTX Markets onboarded Timothy James Osborne Throsby as the new Director. Throsby has extensive experience, having held different roles in various sectors, including finance and education. He currently serves as the Managing Partner, President, and CRO at Phoenix Merchant Partners, a position he has held since February 2023. Phoenix Merchant Partners focuses on offering financing solutions to middle-market companies, specifically private credit and customized financial strategies.

Timothy James Osborne Throsby

Besides his role at Phoenix Merchant Partners, Throsby served as a Non-Executive Director for Zen Educate and Light & Wonder. He also holds the position of Chairman of the Board and Non-Executive Director at Silver Creek Pharmaceuticals, and he has been a Non-Executive Director at Lumos Global since November 2019.

Display more about the exit of Binance FZE's General Manager Alex Chehade from his role.

European digital banking solution provider Finom added Rob Allen as its new Head of Sales, effective July 2024. Finom provides financial services for small and medium-sized enterprises and entrepreneurs. Allen has over a decade of fintech experience, most recently serving as VP of Sales at Super Payments.

Rob Allen, Finom

Previously, he held the position of Head of Sales for Europe at Revolut, where he led sales teams across six European countries. The appointment was reportedly facilitated through Finom's connection with Northzone, a new investor in the company's recent 50 million Series B funding round. This recent investment has boosted Finom's total capital to more than 100 million since its founding in 2019.

Reveal more about the addition of Rob Allen as Finom'snew Head of Sales.

Capital.com appointed Campbell MacPherson as the CEO of Australian Operations. Previously, MacPherson was the Regional Director of Sales at FactSet, where he managed a team responsible for expanding FactSet's business across various asset classes in the Pacific region. He oversaw strategic growth initiatives for bank and wealth clients, as well as providing executive oversight for key regional accounts.

Campbell MacPherson, Source: LinkedIn

Before his tenure at FactSet, MacPherson held multiple roles at Glenmoira Consulting, focusing on business consultancy, development strategy, and project management. He also served as a Strategic Advisor and Non-Executive Director at Jaaims, where he contributed to financial technology and strategic partnerships. Additionally, MacPherson worked as a Strategic Advisor in Business Development at Caplin Systems, where he was involved in contract-based initiatives.

Find out more about the entry of Campbell MacPherson as Capital.com's CEO for Australian operations.

LP Prime, the liquidity provider for forex and CFDs, named Marios Antoniou as the new Chief Executive Officer. LP Prime is the latest entrant in the liquidity space. The firm was launched early this year by Louay Amhaz, the former Director of Business Development at oneZero.

Marios Antoniou

Antoniou has nearly a decade of experience in the industry. He joined LP Prime from M4Markets, where he was the Chief Operating Officer for more than a year. Prior to that, he was the CEO of Invaxa, a lesser-known offshore forex and CFDs broker, which now appears to have been shuttered. LP Prime offers access to more than 1,350 instruments, including forex, precious metals, indices, and stock CFDs.

Identify more about LP Prime's onboarding of Marios Antoniou as the new Chief Executive Officer.

IG's Premium Client Manager shifted to Capital.com under the same role, after dedicating nearly six years to the group. The veteran expert, with over 15 years of experience in financial markets, will now transition to capital.com's Australian office to assume the new responsibilities.

Stephen Williams, Source: LinkedIn

Display more about Stephen Williams' switch from his Premium Client Manager's role at IG to Capital.com.

Middle Eastern neobroker amana onboarded Jack Saidy as the Director of Operations for Lebanon to strengthen its presence in the region. Saidy has over a decade of experience in financial markets. Previously, he served as the Director at Advanced Markets, focusing on training sales teams and fostering customer relationships.

Jack Saidy, Source: LinkedIn

Saidy's understanding of the Lebanese and MENA markets positions him well to drive amana's growth in the region. amana provides access to more than 5,500 assets and enables customers to trade physical and leveraged US and MENA shares, commodities, currencies, and more. Amana is a neobroker in the Middle East that provides users direct access to global and regional financial markets.

Investigate more about amana's onboarding of JackSaidy as Director of Operations for Lebanon.

Financial consulting firm Delta Capita onboarded Nick Frost as its new Global Chief Financial Officer. Frost, who brings over two decades of finance experience to the role, will join Delta Capita's Executive Committee and report directly to Group CEO Joe Channer. Based in London, he will be tasked with developing the company's financial strategy and supporting its growth initiatives.

Nick Frost

Before joining Delta Capita, Frost held CFO positions at several firms, including the London Stock Exchange Group. Over the past few months, he was associated with the technology company Prytek, where he also held the role of the CFO. Delta Capita offers consulting, managed services, and technology solutions to the capital markets industry.

Learn more about Delta Capita's addition of Nick Frost as its new Global Chief Financial Officer and what the firm stands for.

This week saw an upsurge in executive moves, appointments, departures, and promotions across multiple sectors. Major moves were experienced in the forex, fintech, cryptocurrency, digital banking, and financial consultancy space.

MultiBank Group's Chief Development Officer Ruslan Abuzant exited the firm; Former CFDs CEO joined BlockFills as UAE GM; Nium tapped Spencer Hanlon as Chief Operating Officer to drive its global expansion; Binance FZE's General Manager Alex Chehade will exit after two Years; XTX Markets welcomes the Former Barclays CEO as Director.

Elsewhere, Finom named ex-Revolut executive as Sales Chief; Capital.com onboarded Campbell MacPherson as CEO for Australian operations; the 3-month-old liquidity provider hired ex-M4Markets executive as CEO; Stephen Williams switched from IG to Capital.com after six years; amana tapped Jack Saidy as Director of Operations for Lebanon; Delta Capita brought London Stock Exchange Veteran as New CFO.

Check out our executive move segment for this week, as we bring to you highlights from notable industry appointments, departures, and promotions.

MultiBank Group's Chief Development Officer Ruslan Abuzant stepped down after serving for two years in the company. Abuzant joined the group in 2022 and has held several roles, including Head of Information Technology, Head of Product Development, Chief Strategy Officer, and Chief Development Officer.

Ruslan Abuzant, Source: LinkedIn

Commenting about his departure, Abuzant said: "After two incredible years, today I announce my departure from Multibank. It has been an honor to be part of such a dynamic and dedicated team. I am immensely grateful for the opportunity to meet and work alongside each and every one of you." MultiBank offers a range of online trading financial products, including forex, commodities, and CFDs.

Discover more about MultiBank Group's Chief Development Officer Ruslan Abuzant exit from his role and the recent developments at the firm.

Demetrios Zamboglou joined BlockFills as the General Manager for the UAE operations. Zamboglou, who held executive positions in multiple forex and contracts for differences (CFDs) brokers, has assumed the Dubai-based role. His most recent role was serving as the Group Chief Executive Officer at Doto, a Cyprus-based FX and CFDs broker.

Demetrios Zamboglou, the General Manager for UAE at BlockFills

He was also the Group Chief Operating Officer at CFI Financial Group for a couple of years. BlockFills offers digital asset trading, technology, and liquidity solutions. Recently, the firm integrated Centroid Solutions' institutional-grade connectivity platform, Centroid Bridge, to offer brokers and institutional clients a centralized environment for price management, execution, and comprehensive reporting.

Learn more about Demetrios Zamboglou's entry into BlockFills as the General Manager for the UAE.

Cross-border payment firm Nium onboarded Spencer Hanlon as its Chief Operating Officer (COO). Hanlon, who was previously instrumental in expanding Nium's travel business, will oversee the scaling of the company's operations globally. His extensive experience includes leadership roles at British Airways and AirPlus International. Hanlon will succeed Pratik Gandhi.

Spencer Hanlon, Source: LinkedIn

Commenting about the changes, Prajit Nanu, the Founder and CEO of Nium mentioned: "Spencer has been an integral part of Nium for the past three years, demonstrating exceptional cross-functional leadership and a deep understanding of what it takes to scale. Appointing Spencer to COO was a natural decision. His vision and dedication have been invaluable to our success, and I am confident that under his leadership, we will continue to achieve outstanding results."

Reveal more about Nium's appointment of Spencer Hanlonas as Chief Operating Officer.

Alex Chehade, the General Manager of Binance FZE in Dubai, will reportedly depart from the crypto asset exchange at the end of July. Chehade, who played an important role in securing the Dubai Virtual Assets Regulatory Authority (VARA) license, has been with Binance for two years.

Alex Chehade, Source: LinkedIn

Chehade joined Binance FZE in June 2022, and under his leadership, the platform secured the VARA license in April, positioning it among 18 other organizations approved as Virtual Assets Service Providers (VASP) by the Dubai regulatory authority. Sources said that Chehade was seen as a potential future board member of Binance, making his departure unexpected.

Disclose more about the exit of Binance FZE's General Manager Alex Chehade and the recent developments at the firm.

XTX Markets onboarded Timothy James Osborne Throsby as the new Director. Throsby has extensive experience, having held different roles in various sectors, including finance and education. He currently serves as the Managing Partner, President, and CRO at Phoenix Merchant Partners, a position he has held since February 2023. Phoenix Merchant Partners focuses on offering financing solutions to middle-market companies, specifically private credit and customized financial strategies.

Timothy James Osborne Throsby

Besides his role at Phoenix Merchant Partners, Throsby served as a Non-Executive Director for Zen Educate and Light & Wonder. He also holds the position of Chairman of the Board and Non-Executive Director at Silver Creek Pharmaceuticals, and he has been a Non-Executive Director at Lumos Global since November 2019.

Display more about the exit of Binance FZE's General Manager Alex Chehade from his role.

European digital banking solution provider Finom added Rob Allen as its new Head of Sales, effective July 2024. Finom provides financial services for small and medium-sized enterprises and entrepreneurs. Allen has over a decade of fintech experience, most recently serving as VP of Sales at Super Payments.

Rob Allen, Finom

Previously, he held the position of Head of Sales for Europe at Revolut, where he led sales teams across six European countries. The appointment was reportedly facilitated through Finom's connection with Northzone, a new investor in the company's recent 50 million Series B funding round. This recent investment has boosted Finom's total capital to more than 100 million since its founding in 2019.

Reveal more about the addition of Rob Allen as Finom'snew Head of Sales.

Capital.com appointed Campbell MacPherson as the CEO of Australian Operations. Previously, MacPherson was the Regional Director of Sales at FactSet, where he managed a team responsible for expanding FactSet's business across various asset classes in the Pacific region. He oversaw strategic growth initiatives for bank and wealth clients, as well as providing executive oversight for key regional accounts.

Campbell MacPherson, Source: LinkedIn

Before his tenure at FactSet, MacPherson held multiple roles at Glenmoira Consulting, focusing on business consultancy, development strategy, and project management. He also served as a Strategic Advisor and Non-Executive Director at Jaaims, where he contributed to financial technology and strategic partnerships. Additionally, MacPherson worked as a Strategic Advisor in Business Development at Caplin Systems, where he was involved in contract-based initiatives.

Find out more about the entry of Campbell MacPherson as Capital.com's CEO for Australian operations.

LP Prime, the liquidity provider for forex and CFDs, named Marios Antoniou as the new Chief Executive Officer. LP Prime is the latest entrant in the liquidity space. The firm was launched early this year by Louay Amhaz, the former Director of Business Development at oneZero.

Marios Antoniou

Antoniou has nearly a decade of experience in the industry. He joined LP Prime from M4Markets, where he was the Chief Operating Officer for more than a year. Prior to that, he was the CEO of Invaxa, a lesser-known offshore forex and CFDs broker, which now appears to have been shuttered. LP Prime offers access to more than 1,350 instruments, including forex, precious metals, indices, and stock CFDs.

Identify more about LP Prime's onboarding of Marios Antoniou as the new Chief Executive Officer.

IG's Premium Client Manager shifted to Capital.com under the same role, after dedicating nearly six years to the group. The veteran expert, with over 15 years of experience in financial markets, will now transition to capital.com's Australian office to assume the new responsibilities.

Stephen Williams, Source: LinkedIn

Display more about Stephen Williams' switch from his Premium Client Manager's role at IG to Capital.com.

Middle Eastern neobroker amana onboarded Jack Saidy as the Director of Operations for Lebanon to strengthen its presence in the region. Saidy has over a decade of experience in financial markets. Previously, he served as the Director at Advanced Markets, focusing on training sales teams and fostering customer relationships.

Jack Saidy, Source: LinkedIn

Saidy's understanding of the Lebanese and MENA markets positions him well to drive amana's growth in the region. amana provides access to more than 5,500 assets and enables customers to trade physical and leveraged US and MENA shares, commodities, currencies, and more. Amana is a neobroker in the Middle East that provides users direct access to global and regional financial markets.

Investigate more about amana's onboarding of JackSaidy as Director of Operations for Lebanon.

Financial consulting firm Delta Capita onboarded Nick Frost as its new Global Chief Financial Officer. Frost, who brings over two decades of finance experience to the role, will join Delta Capita's Executive Committee and report directly to Group CEO Joe Channer. Based in London, he will be tasked with developing the company's financial strategy and supporting its growth initiatives.

Nick Frost

Before joining Delta Capita, Frost held CFO positions at several firms, including the London Stock Exchange Group. Over the past few months, he was associated with the technology company Prytek, where he also held the role of the CFO. Delta Capita offers consulting, managed services, and technology solutions to the capital markets industry.

Learn more about Delta Capita's addition of Nick Frost as its new Global Chief Financial Officer and what the firm stands for.

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Binance, MultiBank, XTX Markets, and More: Executive Moves of the Week - Finance Magnates

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MoonBag Crowned Top Meme Coin Presale in 2024 While Binance and Polygon Spiral Downitbot - Blockonomi

YORKTOWN HEIGHTS, N.Y. - OCTOBER 18: Exhibition model of IBM Q System One quantum computer. (Photo ... [+] by Misha Friedman/Getty Images)

Like the hapless tramps in Samuel Becketts play Waiting for Godot, the world has been waiting not for the mysterious Godot, but for quantum computing, which is much anticipated but has yet to arrive. But while the ghostly Godot never does show up, quantum is beginning to materialize.

Its about time. Global powers, led by China, have invested more than $55 billion in the promising technology and we are closer than ever to realizing the $500 million to $1 billion in gains that quantum promises to deliver to businesses over the next fifteen years. The quantum market is already estimated to be worth more than $1 billion this year, even though quantum computers are not yet very useful.

In Europe, Germany has launched an investment plan of more than $3 billion by 2026, and France has announced an investment of nearly $2 billion, aiming to train 5,000 quantum-ready engineers and create 30,000 jobs. In the United States, the National Quantum Initiative Act has authorized $1.2 billion in funding over five years for quantum computing research and development.

What are we talking about? Computers that could be a billion times faster than conventional computers for solving certain complex problems.

Classical computers, such as the one youre likely reading this article on now, rely on binary bits to store and process information as strings of zeros and ones. But quantum computers use quantum bits, or qubits, which can exist in a superposition of states, allowing for an exponential number of simultaneous combinations of zeros and ones. Dont bother trying to visualize this - no one has ever seen a qubit. Its all math.

Nonetheless, this superposition can be measured, enabling quantum computers to perform complex computations at an exponential speed.

Several technologies at the boundaries of current physics are being tried to make this work: superconductivity, neutral atoms, trapped ions, and photonics.

Are they used in businesses? Not yet. At this stage, quantum supremacy, meaning that a quantum computer is more efficient than a conventional computer, has only been established for algorithms without truly useful applications, such as verifying that a die is not loaded (Google, 2019).

But progress in developing quantum computing has been steady, and many people believe quantum computers will be a practical reality within a few years. IBM, the leader in quantum computing hardware, predicts that quantum computers will outperform classical computers in specific tasks by 2027.

Quantum supremacy is expected to first materialize for "native" quantum problems, which lend themselves particularly well to quantum modeling. They fall into four categories: modeling physicochemical reactions to discover innovative materials, new proteins, and future drugs; optimizing complex systems to improve flow management or the design and engineering of complex systems; generating synthetic data to train AI models; and finally, cryptography.

So, is it too early for businesses to be building their quantum muscle? Absolutely not. It takes time to build a team that understands how to use the burgeoning technology, and the future will belong to those who can harness the power of quantum computing early.

Banks, hedge funds, and car manufacturers are recruiting specialized quantum teams. They are tackling the construction of algorithms coded in qubits for their strategic applications. They are forming partnerships with quantum computer manufacturers - IBM, Atos, Pasqal - and academic research centers. These companies will be ready for the day when manufacturers offer sufficiently powerful machines. The aim is to increase the number of high-quality qubits and reduce error rates, eventually multiplying the power of the best current prototypes by a thousand.

The first challenge will be cybersecurity: with quantum supremacy, many of our security devices will become instantly obsolete. Businesses should start now to shift to quantum-hardened encryption technologies. The American National Institute of Standardization and Technology (NIST) is working on developing and standardizing post-quantum cryptographic algorithms and plans to impose a schedule for using encryption solutions capable of resisting quantum attacks.

But quantum computing has the potential to help mankind solve some of its biggest problems - mitigating climate change, for example, by accelerating the development of new materials for carbon capture, more efficient catalysts for hydrogen production, better batteries for electric vehicles, and optimized power grids that can handle renewable energy sources.

Quantum computing is also expected to accelerate drug discovery, enabling the development of personalized medicines and more effective treatments for diseases. And quantum algorithms could be used to optimize logistics and supply chain management, reducing fuel consumption and increasing efficiency. The list goes on.

AI can complement and enhance quantum computing, helping to develop error correction techniques for quantum hardware, for example, one of the main barriers to practical quantum computers. Quantum computers, meanwhile, can simulate complex natural processes, like the behavior of molecules or weather systems, much more accurately than regular computers.

Scientists collect relatively small amounts of data from experiments with such natural processes, but this isn't always enough to train AI models effectively. Quantum computing is expected to be able to generate additional, high-quality data to fill in the gaps, making the simulations more accurate and reliable. This, in turn, can help AI make more precise predictions about natural phenomena.

And quantum computing can generate synthetic data to train generative AI models when real-world data is scarce or difficult to obtain. While GenAI does not directly use quantum algorithms, hybrid algorithms that combine classical and quantum computing can leverage the strengths of both computing paradigms, potentially leading to more powerful and efficient AI models.

And if quantum doesn't come? In Beckett's play, when Estragon asks this question to Vladimir, the wise vagabond replies: "We'll come back tomorrow." Businesses will do the same and remain busy with generative AIs.

Here Are Five Steps That Business Leaders Can Start Implementing Today

Working with quantum computing requires deep expertise, including quantum software developers and quantum hardware engineers who can design and optimize quantum circuits and algorithms for specific business applications. Quantum computing will initially augment rather than replace classical computing, so quantum teams will also need traditional software developers who can integrate quantum solutions with existing classical systems. And companies will need people who can translate complex business problems into quantum algorithms.

Since quantum computing is still an emerging field, companies will need to collaborate with academic institutions, technology providers, and quantum research organizations to keep up with the latest advancements and integrate cutting-edge solutions. Building a multidisciplinary team with these areas of expertise takes planning and time. While this may not be something smaller companies can undertake, large companies should start now. Because quantum computing is a new computing paradigm, hiring and developing talent capable of harnessing it in conjunction with company domain expertise will be the winning combination. But quantum scientists and engineers will be in short supply when quantum advantage will trigger interest, not dissimilar to what happened in AI in 2015 and GenAI now.

Companies need to identify and develop specific quantum use cases that align with their business goals. This involves exploring how quantum computing can solve industry-specific problems, such as molecular modeling in pharmaceuticals or portfolio optimization in finance. Conducting proof-of-concept projects and pilot studies ahead of time will help refine these use cases and demonstrate their potential value.

Companies will need to implement post-quantum cryptographic algorithms (PQC) to secure data and communications. The National Institute of Standards and Technology has been developing these algorithms designed to withstand quantum threats. Companies large and small should track these developments and start integrating PQC algorithms into their security frameworks to ensure their encryption is hardened against quantum computer attacks.

Companies should begin forging strategic partnerships with quantum technology providers, research institutions, and other industry players. These alliances will facilitate knowledge sharing, accelerate innovation, and ensure access to the latest advancements.

Navigating the regulatory landscape is crucial for the successful adoption of quantum computing. Quantum computing is considered by governments as dual-use technology and critical for national security and competitiveness. Transitioning away from RSA to PQC protocols will a massive undertaking on a scale larger than the Y2K bug. Business leaders should stay informed about emerging regulations, mandates and standards.

Preparing for quantum computing is not a one-time effort but an ongoing commitment. It requires vision, strategic foresight, and a willingness to invest in the future. The rewards, however, will be immense for those who are prepared.

Excerpt from:

Quantum Computing Takes Off With $55 Billion In Global Investments - Forbes

28-06-2024 | Mouser Electronics | Industrial

Mouser has announced the newest issue of the Methods technology and solutions journal. 'Engineering the Quantum Future', the first issue of volume five, presents a collection of articles exploring quantum computing and its seemingly limitless potential.

Quantum computing employs specialised technology, including computer hardware and algorithms that take advantage of quantum mechanics, to solve complex problems very quickly that standard computers or even supercomputers cannot solve. The new issue, available with a free subscription, provides a series of perspectives on the pros and cons surrounding quantum and their implications for various industries and applications.

"Quantum computing is on track to be one of the world's most groundbreaking advancements, and its deployment could redefine our technological future," said Kevin Hess, senior vice president of marketing at Mouser Electronics. "Our newest issue of Methods helps readers to understand the changes that quantum computing will bring through the help of added context and deep insights provided by some of the industry's leading experts."

'Engineering the Quantum Future' features multiple articles on the technological advances and engineering challenges of quantum, including the myriad ethical dilemmas that developers are faced with in this field. The issue also incorporates a detailed infographic and information about select Amphenol products available from Mouser.

As well as the Methods technology and solutions journal, the company offers a wide range of resources for design engineers and buyers, including blogs and eBooks. Its 'Empowering Innovation Together' program features podcasts, articles, and videos examining the hottest engineering topics impacting engineering design, and the technical resource hub includes exclusive design resources, white papers, and product information, enabling design engineers to break new ground in product development and innovation.

Seb Springall is a seasoned editor at Electropages, specialising in the product news sections. With a keen eye for the latest advancements in the tech industry, Seb curates and oversees content that highlights cutting-edge technologies and market trends.

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New issue of journal explores the power of quantum computing - Electropages