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Public.com Inks Deal with NFL Star to Advise on Financial Literacy Programs

The deal also aims to see Wagner serving as an advisor to Public.com’s financial literacy program for NCAA student-athletes.

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Public.com, a zero-commission stock trading platform, announced on Wednesday that it signed a partnership with Bobby Wagner, NFL’s Seattle Seahawks All-Pro linebacker, entrepreneur, and investor. According to the press release, the deal is part of Public.com’s efforts to bolster financial literacy.

Among the major targets of the partnership include helping people become ‘better active long-term investors,’ the stocks trading platform noted. That said, the deal is expected to see Wagner bring financial literacy lessons during the 2021 – 2022 NFL season through the Public.com app, seeking to cover over one million members.

“With tens of millions of new investors flooding into the stock market for the first time, I’m especially excited to partner with Public because of their unique focus on community, education, and inclusion alongside its elegant brokerage app. By joining forces, we can help more people reach the top of their financial wellness game early on in their investing journey,” Wagner commented on the partnership. Furthermore, the NFL linebacker is expected to serve as advisor of One Team, a Public.com program for NCAA student-athletes that also covers financial literacy affairs.

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Wagner Experience as Investor

“We’re so excited to partner with Bobby and make him an equity holder of Public. His experience as an athlete, entrepreneur, investor and advocate for financial literacy make him the perfect partner on our shared mission to make the public markets work for all people,” the stock trading platform pointed out in the announcement. As an investor, Wagner is known for having co-founded Fuse Venture Partners, a venture capital (VC) fund. He also served as an intern at Ignition Partners, a Seattle-based VC firm.

Also, as part of the deal, Public.com said that it would give away free stock for Wagner’s fans who start a portfolio with them during the financial literacy program.

Early this year, the stocks trading platform announced that it had been raising fresh funds of $200 million, only a couple of months after the closure of its last funding round.

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Source: https://www.financemagnates.com/forex/public-com-inks-deal-with-nfl-star-to-advise-on-financial-literacy-programs/

Blockchain

SEC helped Ether Surpass XRP, Ripple CEO

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Ripple CEO Brad Garlinghouse has said that Ether (ETH) overtook the company’s XRP token by market capitalisation because of the US Securities and Exchanges Commission (SEC).

According to Garlinghouse, the US regulator’s approach towards ETH largely encouraged investors, giving it a free pass that enabled the smart contract platform’s native token to overtake XRP in the market.

 “Within the last few years, XRP was the second most valuable digital asset. As it became clear the SEC had given a hall pass to ETH, ETH obviously has kind of exploded and that clarity has helped,” he said.

Ripple’s XRP currently occupies the seventh spot among the largest cryptocurrencies, with a market cap of $52 billion according to data from CoinGecko. Ethereum has held the second spot for the last four years after deposing XRP during the 2017 bull run.  The Ether (ETH) cryptocurrency currently has a market cap of over $490 billion after its price surged to set a new all-time high above $4,000.

In comments made on Thursday 21 October at the DC Fintech Week, the Ripple exec also claimed that the SEC’s approach was based on “outdated” laws. He also wondered why a former official at the agency had found it easier to say Ethereum was not a security, yet SEC Chair Gary Gensler cannot make the same pronouncement.

Garlinghouse’s comments come at a time Ripple is battling the US watchdog’s charge that XRP is a security illegally sold by Ripple Labs and the company’s top brass. The company has also faced class-action lawsuits before.

Despite these events, more XRP holders feel the SEC has unfairly targeted Ripple, a view Garlinghouse also holds. According to him, there almost 50,000 holders of the token “are trying to sue the SEC for ‘protecting them‘.”

The tussle has seen the court allow XRP holders to become amicus curiae or friends of the court. However, the same judge handling the Ripple vs. SEC case ruled that token holders cannot join the proceedings as defendants.

XRP has lost about 67% of its value since touching an all-time high of $3.40 on 7 January 2018. However, its current price of around $1.11 means its value is up more than 27% in the past 30 days and more than 340% up since this time last year.

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Source: https://coinjournal.net/news/sec-helped-ether-surpass-xrp-ripple-ceo/

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Blockchain

THORChain Jumps 35% on Ethereum Trading Restart 

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Source: https://cryptobriefing.com/thorchain-jumps-35-on-ethereum-trading-restart/?utm_source=main_feed&utm_medium=rss

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Cryptoeats Disappears After Raising £500K From Token Sale

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Cryptoeats, a company that reportedly raised 8 million in a Series A funding round to build a crypto-based Ubereats alternative, disappeared after launching its token. According to estimations, the startup might have taken more than £500K from investors after the launch of its official token dubbed “eats.” The alleged scam was promoted by UK influencers and manufactured related apparel, and even hosting a launching party in London.

Cryptoeats Initiative Vanishes After Token Launch

Cryptoeats, a company that proposed to build a crypto-based Ubereats alternative, vanished from the internet just minutes after launching its official token. The company, which had an official website and claimed to have raised funds to build their proposal, stated it had run a public beta of the service, partnering with food chains like Nando’s and McDonald’s.

Furthermore, the startup claimed it had already onboarded more than 100,000 customers, who have signed up to download the app and use it on launch day. But the developers of eats, the native token of the platform, emptied the wallet holding the funds coming from the initial token sale, stealing more than £500K from investors, according to reports. Soon after this, all of the social media accounts of the startup disappeared, along with its website.

Cryptoeats Looked Legit

Cryptoeats worried about looking legitimate before disappearing. The company first outed a PR statement where it claimed it had raised $8 million in its series A funding round in 2020. The PR statement, that was published on October 16, declared the company was “set to take a large slice of the $16.6 billion delivery app market.” The statement was issued using Globenewswire and was featured on Yahoo Finance’s website, but both references have been eliminated now.

At a local level, Cryptoeats also did its work bringing U.K. influencers to promote the new initiative among their fanbase. Joey Essex, a reality TV celebrity that promoted Cryptoeats, stated to local media he lamented the situation. Essex stressed:

I’m fuming. This company used my name to dupe lots of people into investing money. It’s disgusting and I feel bad for anybody in that situation.

But Essex was not the only local celebrity that promoted Cryptoeats. Lots of other influencers attended a launch party last week in London, where Cryptoeats apparel was shown and worn by some of the assistants.

What do you think about the whole Cryptoeats fiasco? Tell us in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Source: https://news.bitcoin.com/cryptoeats-disappears-after-raising-500k-from-token-sale/

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