Governor Kathy Hochul today announced two free snowmobile weekends for all out-of-state and Canadian snowmobilers to rev their engines and explore what New York has to offer. New York State will waive registration fees for out-of-state snowmobilers February 28-March 2 and March 7-9, 2025, encouraging out-of-state visitors to come ride the more than 10,000 miles of snowmobile trails in New York State.
“New York is home to more than 10,000 miles of snowmobile trails, making it the perfect place to explore everything from snow peaked mountains and endless forests to pristine valleys and the Great Lakes,” Governor Hochul said. “I encourage everyone to take advantage of the beauty our state has to offer, and we’re making it easier with free snowmobiling weekends for adventurers to see it for themselves.”
During the weekends, the registration requirement in New York is waived for already properly registered and insured out-of-state snowmobiling enthusiasts. Participants in these free snowmobiling events must operate a snowmobile that is registered in their home state/province and must carry any applicable insurance as required. Outside of this promotion, out-of-state and Canadian snowmobilers are required to register their snowmobiles with New York State before hitting the State’s trails — from the Hudson Valley to the North Country to Western New York.
These free snowmobiling weekends, February 28-March 2 and March 7-9, 2025, help boost tourism for State and local economies, and reinforce New York’s commitment to the industry. New York State has made an ongoing commitment to snowmobile trail maintenance and our local grants program is funded by snowmobile registration fees collected by the State Department of Motor Vehicles and deposited into the Snowmobile Trail Development and Maintenance Fund. County and municipal governments distribute the grants to about 230 snowmobile clubs across the State, which in turn groom and maintain the trails.
New York State Office of Parks, Recreation and Historic Preservation Commissioner Pro Tempore Randy Simons said, “New York State is fortunate to have many snowmobile clubs, counties, and municipalities who do great work to groom and maintain our trail network, ensuring a smooth ride and a safe, enjoyable journey for all. Our trails offer a thrilling escape into winter wonderlands—winding through pristine forests, across snowy fields, and offering breathtaking views at every turn. It’s not just a ride, it’s an adventure leaving visitors eager to return again and again and explore more of what the Empire State has to offer.”
Empire State Development President CEO and Commissioner Hope Knight said, “New York’s free snowmobiling weekends are the perfect time for visitors to explore the state’s picturesque winter landscape and its vast network of snowmobile trails. Tourism is crucial to our regional economies, and opportunities like this help to welcome guests who stay, dine and shop in our vibrant communities, supporting local jobs and small businesses.”
New York State Department of Motor Vehicles Commissioner Mark J.F. Schroeder said, “Our state is enjoying an exceptional snowmobiling season, and these free weekends are the perfect opportunity for non-New Yorkers to experience all that we have to offer. Remember that visitors who snowmobile here outside of designated free weekends must obtain a temporary snowmobile registration, while New Yorkers must renew their snowmobile registrations annually online. The registration fees go toward maintaining our beautiful trail network, which all snowmobilers must enjoy safely and responsibly. That means always wearing a helmet and never riding while impaired.”
New York State Department of Environmental Conservation Interim Commissioner Sean Mahar said, “New York’s network of snowmobile trails provides extraordinary winter recreation for residents and visitors alike. I encourage the public to take advantage of these free weekends to enjoy some of the thousands of miles of trails the state has to offer and to ride safely and responsibly to protect themselves and others.”
New York State Snowmobile Association President Rosanne Warner said, “The New York State Snowmobile Association and all of its member clubs would like to thank the Governor for promoting snowmobiling as an important part of the winter tourism economy. In-state snowmobilers as well as out-of-state visitors enjoy riding our trail system and are always pleased with the diversity of riding opportunities New York State has to offer. Snowmobilers are very important contributors to our local winter economy and we appreciate the support and recognition of Governor Hochul.”
New York State reminds riders to observe trail conditions and safety procedures while snowmobiling. Trail conditions vary depending on snowfall amounts and other factors. Snowmobilers, fishermen, skiers and snowshoers should put safety first and to proceed with extreme caution before venturing on ice- or snow-covered bodies of water. Historically, the two leading causes of snowmobile injuries in New York State are excessive speed and operator intoxication.
Top safety recommendations include:
INSPECT and properly maintain your snowmobile; carry emergency supplies
ALWAYS wear a helmet with DOT-certified standards and make sure you wear appropriate snowmobile gear including bibs, jackets, boots, and gloves to withstand the elements
ALWAYS ride with a buddy or group and tell a responsible person where you will be riding and your expected return time
SLOW DOWN. Ride within your ability
STAY ON MARKED TRAILS. Respect landowners and obey posted signs
NEVER drink alcohol or use drugs and ride
FROZEN BODIES OF WATER are not designated trails; if you plan to ride on ice, proceed with caution and be aware of potential hazards under the snow. If you choose to ride on ice, wear a snowmobile suit with flotation built-in and carry a set of ice picks as a precaution.
Check the websites of area snowmobile clubs for information on trail conditions, including the status of grooming. Individuals operating a snowmobile should be familiar with safe riding practices and all applicable laws, rules and regulations. The New York State Snowmobile Association website provides information about snowmobiling and snowmobile clubs. Maps of the State snowmobile trail network are available on New York State Parks’ website.
More information on planning a great snowmobile getaway and other ways to enjoy winter in New York State is available at iloveny.com/winter.
The DMV reminds New York riders that snowmobile registrations must be renewed annually. DMV allows snowmobilers to renew registrations online on the DMV website, by mail or in person at a DMV office. Snowmobile registration costs $100 but is decreased to $45 if the snowmobiler is a member of a local snowmobile club.
Non-New Yorkers who wish to use a snowmobile in New York State before or after this promotional weekend can use the NYS Registration for Out-of-State Snowmobile service to get a 15-day registration and operate their snowmobile here immediately. DMV will send a permanent registration in the mail.
The free snowmobile weekend complements Governor Hochul’s efforts to encourage outdoor recreation. The FY26 Executive Budget proposes $200 million for State Parks to invest in and aid the ongoing transformation of New York’s flagship parks and support critical infrastructure projects throughout the park system. The Governor’s new Unplug and Play initiative also earmarks $100 million for construction and renovation of community centers through the Build Recreational Infrastructure for Communities, Kids and Seniors (NY BRICKS), $67.5 million for the Places for Learning, Activity and Youth Socialization (NY PLAYS) initiative helping New York communities construct new playgrounds and renovate existing playgrounds; and an additional $50 million for the Statewide Investment in More Swimming (NY SWIMS) initiative supporting municipalities in the renovation and construction of swimming facilities.
For information on snowmobiling, visit parks.ny.gov. Visit the DEC website for more information on snowmobiling on State lands.
Source: United States Senator for Illinois Dick Durbin
February 13, 2025
Illinois receives $1.23 billion in NIH funding that supports more than 14,200 jobs and $3.46 billion in economic activity
WASHINGTON – U.S. Senate Democratic Whip Dick Durbin (D-IL) and U.S. Senator Tammy Duckworth (D-IL) today joined U.S. Senator Patty Murray (D-WA), as well as the entire Senate Democratic Caucus, in sending a letter to U.S. Department of Health and Human Services Secretary Robert F. Kennedy, Jr. expressing serious alarm over the Trump Administration’s recent decisions that threaten to undermine America’s biomedical research infrastructure and setting progress back generations. The steps the Trump Administration has taken would create a serious funding shortfall for research institutions nationwide, threaten to undermine progress on lifesaving scientific advancements, and could cost the U.S. economy billions of dollars while threatening the livelihoods of hundreds of thousands of workers.
“As the largest public funder of biomedical research in the world, NIH plays a critical role in sustaining the research infrastructure necessary for scientific breakthroughs in cancer treatment, infectious disease prevention, and medical technology innovation, among many others. President Trump has wreaked havoc on the nation’s biomedical research system in recent weeks. In his first several days in office, President Trump imposed a hiring freeze, communications freeze, ban on travel, and cancellation of grant review and advisory panels that are necessary to advance research. While some of these efforts have been reversed, they continue to cause confusion and miscommunication among researchers and recipients of NIH funds,” the lawmakers wrote.
Last week, NIH announced it would set the maximum reimbursement rate for indirect costs to 15 percent—creating a serious funding shortfall for research institutions of all types across the country. This move would dismantle the biomedical research system and stifle the development of new cures for disease. It won’t produce cost savings—it will just shift costs to states who can’t afford to pay the difference. Importantly, this action by the Trump Administration is illegal—Congress’ bipartisan Labor-HHS-Education Appropriations Bill prohibits modifications to NIH’s indirect costs.
“This change to NIH’s indirect cost rate represents an indiscriminate funding cut that will be nothing short of catastrophic for the lifesaving research that patients and families are counting on. The Administration’s new policy means that research will come to a halt, sick kids may not get the treatment they need, and clinical trials may shut down abruptly,” the Senators wrote. On Monday, a federal judge in Boston temporarily blocked the NIH rate cut and set a hearing for February 21.
The Senators’ letter points out that, in addition to the stifling impact on discovering new cures and ripping away treatment from those who need it, changes to NIH policy and communications threaten jobs in all 50 states and the District of Columbia. NIH research supported more than 412,000 jobs and fueled nearly $93 billion in new economic activity in Fiscal Year 2023 and every dollar the NIH invests in research generates almost $2.50 in economic activity.
“The Trump Administration has left researchers, universities, and health systems with great uncertainty about whether they can continue to support entire research programs and patient clinical trials across the country. Institutions and grantees nationwide are dealing with an unprecedented external communications ‘pause’ enacted by new leadership at the U.S. Department of Health and Human Services, the lack of transparency regarding the Administration’s illegal funding freeze, and the uncertainty of how new Executive Orders would be applied to their critical work. These actions resulted in NIH freezing grant reviews and cancelling advisory meetings, delaying critical funding that scientists need to continue advancing new cures and treatments. These disruptions do not just slow research—they cost lives,” the Senators continued.
“Our standing as a world leader in funding and producing new medical and scientific innovations has been put at risk by these recent actions from the Trump Administration. We urge you to stop playing political games with the lifesaving work of the NIH and to allow NIH research to continue uninterrupted,” the lawmakers wrote.
The letter was signed by the entire Senate Democratic caucus. In addition to Durbin, Duckworth, and Murray, U.S. Senators Angela Alsobrooks (D-MD), Tammy Baldwin (D-WI), Michael Bennet (D-CO), Richard Blumenthal (D-CT), Lisa Blunt Rochester (D-DE), Cory Booker (D-NJ), Maria Cantwell (D-WA), Chris Coons (D-DE), Catherine Cortez Masto (D-NV), John Fetterman (D-PA), Ruben Gallego (D-AZ), Kirsten Gillibrand (D-NY), Maggie Hassan (D-NH), Martin Heinrich (D-NM), John Hickenlooper (D-CO), Mazie Hirono (D-HI), Tim Kaine (D-VA), Mark Kelly (D-AZ), Andy Kim (D-NJ), Angus King (I-ME), Amy Klobuchar (D-MN), Ben Ray Luján (D-NM), Ed Markey (D-MA), Jeff Merkley (D-OR), Chris Murphy (D-CT), Jon Ossoff (D-GA), Alex Padilla (D-CA), Gary Peters (D-MI), Jack Reed (D-RI), Jacky Rosen (D-NV), Bernie Sanders (I-VT), Brian Schatz (D-HI), Adam Schiff (D-CA), Chuck Schumer (D-NY), Jeanne Shaheen (D-NH), Elissa Slotkin (D-MI), Tina Smith (D-MN), Chris Van Hollen (D-MD), Mark Warner (D-VA), Raphael Warnock (D-GA), Elizabeth Warren (D-MA), Peter Welch (D-VT), Sheldon Whitehouse (D-RI), and Ron Wyden (D-OR) signed onto the letter.
Durbin has long been a strong advocate for robust medical research. His legislation, the American Cures Act, would provide annual budget increases of five percent plus inflation at America’s top four biomedical research agencies: NIH, the Centers for Disease Control and Prevention, the Department of Defense Health Program, and the Veterans Medical and Prosthetics Research Program. Thanks to Durbin’s efforts to increase medical research funding, Congress has provided NIH with a 60 percent funding increase over the past decade.
A PDF of the letter is available HERE and the full text is below:
February 13, 2025
Dear Secretary Kennedy,
We write to express our serious concern with the Trump Administration’s recent decisions that threaten to undermine the nation’s biomedical research infrastructure and set us back generations. The steps the Trump Administration has taken will create a serious funding shortfall for research institutions nationwide, threaten to undermine progress on lifesaving scientific advancements, could cost the U.S. economy billions of dollars, and threaten the livelihoods of hundreds of thousands of workers.
As the largest public funder of biomedical research in the world, NIH plays a critical role in sustaining the research infrastructure necessary for scientific breakthroughs in cancer treatment, infectious disease prevention, and medical technology innovation, among many others. President Trump has wreaked havoc on the nation’s biomedical research system in recent weeks. In his first several days in office, President Trump imposed a hiring freeze, communications freeze, ban on travel, and cancellation of grant review and advisory panels that are necessary to advance research. While some of these efforts have been reversed, they continue to cause confusion and miscommunication among researchers and recipients of NIH funds.
Just last week, NIH announced an illegal plan to cap indirect cost rates that research institutions rely on. In capping indirect cost rates at 15 percent for NIH-funded grants, this policy would cut funding essential for conducting research, such as operating and maintaining laboratories, equipment, and research facilities. This change to NIH’s indirect cost rate represents an indiscriminate funding cut that will be nothing short of catastrophic for the lifesaving research that patients and families are counting on. The Administration’s new policy means that research will come to a halt, sick kids may not get the treatment they need, and clinical trials may shut down abruptly.
These confusing and harmful policy changes threaten patient safety. The strength of the American research enterprise – recognized as the best in the world – is built on Congress’ bipartisan commitment to supporting essential research infrastructure. This funding, which Congress has long appropriated on a bipartisan basis, fuels groundbreaking medical discoveries and cements the United States’ position as the global leader in biomedical research.
In addition to the stifling impact on discovering new cures and ripping away treatment from those who need it, changes to NIH policy and communications threaten jobs in all 50 states and the District of Columbia, with everyone from custodians, to research trainees, to scientists facing potential layoffs. NIH research supported more than 412,000 jobs and fueled nearly $93 billion in new economic activity in Fiscal Year 2023. Every dollar the NIH invests in research generates almost $2.50 in economic activity. These reckless policy changes not only threaten biomedical innovation and research, but also the livelihoods of thousands of workers in every state across the nation.
The Trump Administration has left researchers, universities, and health systems with great uncertainty about whether they can continue to support entire research programs and patient clinical trials across the country. Institutions and grantees nationwide are dealing with an unprecedented external communications “pause” enacted by new leadership at the U.S. Department of Health and Human Services, the lack of transparency regarding the Administration’s illegal funding freeze, and the uncertainty of how new Executive Orders would be applied to their critical work. These actions resulted in NIH freezing grant reviews and cancelling advisory meetings, delaying critical funding that scientists need to continue advancing new cures and treatments. These disruptions do not just slow research – they cost lives.
The NIH plays a critical role in our nation’s efforts to fund scientific advancements that improve health and save lives. Our standing as a world leader in funding and producing new medical and scientific innovations has been put at risk by these recent actions from the Trump Administration. We urge you to stop playing political games with the lifesaving work of the NIH and to allow NIH research to continue uninterrupted.
ATLANTA – Governor Brian P. Kemp today joined the Georgia Department of Economic Development (GDEcD) in announcing that the State of Georgia surpassed $53.1 billion in exports, a year-over-year increase of 6.4% that outpaced the national average of 2.3%. The state also moved up a rank to sixth in the United States for dollar value of trade, serving as a global gateway to facilitate more than $198.7 billion in trade to 222 unique countries and territories.
“With more than 87% of Georgia exporters being small businesses, these record-breaking numbers represent economic opportunity and success in every corner of the state,” said Governor Brian Kemp. “In 2024, Georgia outpaced the national average for growth in exports and moved up another rank in total trade, further demonstrating that our strategic investments and commitment to working with job creators to meet their needs are delivering results for hardworking Georgians.”
Exporting to 219 unique destinations in 2024, Georgia retained its No. 12 ranking in the U.S. for dollar value of exports. Civilian aircraft and ancillary parts also remained the state’s No. 1 export, followed by motor vehicles, data processing machines (computers), electrical apparatus for line telephony (telephone sets), and medical devices.
“Georgia’s diverse industry base and connectivity to more than 200 global markets create a more resilient state economy,” said GDEcD Commissioner Pat Wilson. “Georgia offers extensive partnerships, expert guidance on export strategies, and top-tier infrastructure – including deepwater ports, railways, highways, and airports – that empower businesses to thrive in the global market. We appreciate the General Assembly, local leaders, and statewide partners for ensuring Georgia remains the No. 1 state for business, supporting companies in expanding, investing, and moving products both statewide and worldwide.”
The state’s international trade efforts are bolstered by representatives in key markets around the world that facilitate connections between Georgia exporters and key global customers. Markets where Georgia maintains full-time representation accounted for 66% of exports and 83% of bilateral trade in 2024.
“A fourth consecutive year of record-breaking exports is an incredible accomplishment that requires strong partnerships at all levels, from global to local,” said Deputy Commissioner of Trade Lizann Grupalo. “Georgia’s international representatives are a key link to global markets, providing on the ground insights to navigate an ever-changing global environment. Their contributions allow our Georgia-based team members to serve Georgia’s small business exporters who otherwise may not have access to this information and opportunities.”
Georgia is home to the busiest and most efficient airport in the world, Hartsfield-Jackson Atlanta International Airport; the fastest growing and third-busiest container gateway in the U.S. at the Port of Savannah; and one of the nation’s busiest gateways for Roll-on/Roll-off cargo at the Port of Brunswick. The Georgia Ports Authority also recently announced twelve consecutive months of year-over-year container volume growth, on top of consistent growth for multiple years prior. In addition, Georgia offers a robust rail and highway infrastructure, with more rail miles than any other state in the Southeast.
About the Annual International Trade Report
GDEcD’s annual International Trade Report is an overview of the state of Georgia’s annual trade activity based on data from Trade Data Monitor. Trade Data Monitor tracks the value of merchandise trade, meaning tangible products or goods only, using four-digit Harmonized System (HS) codes and origin of movement.
To read the full report, click here.
About GDEcD’s Trade Team
Georgia’s nationally recognized Trade team works to bolster Georgia exports and brand the state as a competitive source of quality products and services. The team includes International Representatives located in more than a dozen strategic global markets who assist Georgia companies with expanding their sales worldwide. GDEcD’s Trade professionals provide Georgia businesses with the global insight and connections they need to successfully diversify their international customer base.
Most people in Europe think that digital technologies, including artificial intelligence (AI), have a positive impact on their jobs, the economy, society, and on quality of life. This is what reveals a new Eurobarometer survey, published today.
More than 60% of Europeans positively view robots and AI at work and over 70% believe they improve productivity. While a majority supports using robots and AI to make decisions at work, 84% of Europeans think that AI requires careful management to protect privacy and ensure transparency in the workplace.
Background
Today’s results of the survey align with one of the key objectives of the EU’s Competitiveness Compass, to integrate digital technologies and AI into workplaces to boost innovation and productivity. The EU has allocated €2 billion from the European Social Fund Plus (ESF+) and €23 billion from the Recovery and Resilience Fund (RRF) to Member States to support the development of digital skills. The Digital Europe Programme has also invested €580 million to advance digital skills between 2021-2027.
The Italian Government welcomes the announcement by the President of the European Commission regarding new initiatives aimed at increasing investments in defence, starting with the exclusion of these expenses from the Stability and Growth Pact, as Italy has long been requesting.
This is a first, fundamental step in the right direction, which also needs to be followed by the creation of common financial instruments.
The Italian Government is ready to work constructively with the EU institutions and the other Member States to achieve these important goals together, starting with the upcoming presentation of the EU defence white paper.
Salford City Council inspection results in court action with a £6,600 fine, costs totalling £4,500 and a victim surcharge of £2,000. (Total cost £13,160)
Three offences of failing to comply with The Licensing and Management of a House in Multiple Occupation Regulations 2006, of which the most serious relates to failure to ensure adequate fire escape routes
HMO landlords and managing agents in Salford advised to take immediate action to ensure their properties meet the required standards
Salford based Student-Haus Limited pleaded guilty at Tameside Magistrates’ Court following action taken by Salford City Council after an inspection at the HMO where they were found breaching critical safety regulations.
In failing to comply with The Licensing and Management of HMO Regulations 2006 following an inspection in November 2023 carried out by Salford City Council, Student-Haus Limited has been ordered to pay a £6,600 fine, £4,500 in costs and a victim surcharge of £2,000 (totalling £13,160).
Student-Haus Limited was found guilty of three offences relating to fire safety breaches.
The three offences included breaches of:
Regulation 4(1)(b) – the manager must ensure that all means of escape from fire in the HMO are maintained in good order and repair.
Regulation 7(1)(a) The manager must ensure that all common parts of the HMO are maintained in good and clean decorative repair.
Regulation 7(1)(b) The manager must ensure that all common parts of the HMO are maintained in a safe and working condition.
With its commitment to building a fairer, greener, healthier and more inclusive city for all, Salford City Council strongly encourages landlords to take immediate action to ensure their properties meet the required standards, focusing on key compliance areas and adopting a proactive management approach. This will not only help in avoiding financial penalties but also in ensuring the safety and wellbeing of tenants.
Councillor Tracy Kelly, Lead Member for Housing and Anti-Poverty stated: “I’m pleased with this outcome, which clearly reinforces the importance that tenants deserve to live in safe and well managed properties. This action by the court and through civil penalty notices issued by the Council should be a warning to other landlords to check they are meeting all their obligations.
“Negligent landlords who put tenants’ health and safety at risk have no excuse to abandon their legal duties. Residents of Salford living in HMOs can be assured that the council will take action against landlords and agents who don’t stick to the rules.”
A HMO can be bedsit, shared house or flat occupied by more than one household and more than two people, with shared kitchens or bathrooms. If you are a landlord of an HMO you need to have a licence. Apply to Salford City Council for an HMO licence.
SHREVEPORT, La. – Acting United States Attorney Alexander C. Van Hook announced that Elijah D. Brown, 24, has been sentenced by United States District Judge S. Maurice Hicks, Jr. for conspiracy to commit bank fraud. Brown was sentenced to 63 months in prison, to run consecutive to a 42-month federal prison sentence he is currently serving for illegal possession of a machine gun, for a total of 105 months (8 years, 9 months) in prison. In addition, Brown was ordered to pay restitution in the amount of $1,254,790.
In April 2024, a federal grand jury in Shreveport returned an indictment charging 21 defendants in connection with a federal bank fraud case in the Shreveport area. All of those defendants have now entered guilty pleas or entered into pretrial diversion agreements. A summary of the 20 remaining defendants and their status is as follows:
Defendant Name
Conviction/Sentence
Destane Glass, 23,
Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentencing set for 3/27/25
Sharmaine Jackson, 26,
Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentencing set for 6/5/2025
ZarRajah Z. Watkins, 23,
Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentencing set for 4/24/2025
Arazhia R. Gully, 24,
Bossier City, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentencing set for 2/20/2025
Eric D. Loud, 24,
Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentencing set for 3/20/2025
Maya L. Green, 24,
Bossier City, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentencing set for 3/27/2025
Olivia M. Deboe, 23,
Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentenced to 3 years supervised probation and ordered to pay $34,261.81 in restitution
Donte N. Larrimore, 24,
Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentenced to 3 years supervised probation
Shamaya S. Pouncy, 27,
Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentenced to 9 months in prison and ordered to pay restitution in the amount of $9,317.50
Precious Wilbert, 25,
Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentenced to 3 years of supervised probation
Cynthia R. Bryant, 22,
Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentencing set for 4/10/2025
Trameka McGinty, 25,
Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentencing set for 3/27/2025
Shaquentalas B. McGinty,
26, Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentencing set for 6/5/25
Javonte J. Lejay, 28,
Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentencing set for 3/27/2025
Octavia L. Mitchell, 33,
Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentencing set for 3/20/2025
Shmarrian J. Taylor, 27,
Shreveport, LA
Pleaded guilty to conspiracy to commit bank fraud
Sentencing set for 3/27/2025
Rakeydra S. Shepherd, 28,
Shreveport, LA
Pleaded guilty to possession of a counterfeit security
Sentencing set for 2/20/2025
Tina Marie Bryant, 43,
Shreveport, LA
Entered into Pretrial Diversion Agreement
Lakysa S. Barfield, 26,
Shreveport, LA
Entered into Pretrial Diversion Agreement
Kyra D. Washington-Bates,
24, Shreveport, LA
Entered into Pretrial Diversion Agreement
This scheme to defraud began in January 2021 and continued through October 31, 2022. The defendants admitted to their involvement in the conspiracy to defraud banks including USAA Savings Bank (“USAA Bank”), Navy Federal Credit Union, JP Morgan Chase Bank, Barksdale Federal Credit Union and Bank of America.
Arazhiah Gully, Maya Green and ZarRajah Watkins worked at Teleperformance, a multinational company that provided business services including a call center in Shreveport. The call center provided customer service to USAA Bank. Gully, Green and Watkins all had access to USAA Bank customer information including names of customers, their ages, account balances, and account numbers. These three defendants admitted to conspiring with Destane Glass, Elijah Brown, Sharmaine Jackson, and others to defraud USAA Bank. Gully, Green and Watkins improperly obtained account holder information so that it could be used by others to create counterfeit USAA Bank checks, and they were paid to provide the account information. Counterfeit checks traced to accounts that these defendants accessed totaled over $4 million.
Glass, Brown and Jackson used social media and other methods to recruit individuals in the Shreveport area with bank accounts to use their accounts to deposit the counterfeit checks to make money. The co-defendants involved in the scheme would open accounts at various financial institutions under their own names and then provide their access cards and login information to other co-defendants. Counterfeit checks were then provided to these co-defendants to be deposited into their own personal bank accounts, and they were instructed to withdraw the funds in various ways, including making withdrawals at local casinos, through ATMs, Apple Cash payments, and PayPal payments. After withdrawing the money, the defendants would meet Glass, Brown, Jackson and other co-defendants in various places, including casino parking lots, and give the funds to them, with a portion of the proceeds going to the one who made the withdrawal. Activity in the casinos were captured by the surveillance cameras at those locations which helped solve the case. The counterfeit checks that were deposited were in varying amounts ranging from $5,000 to $40,000.
“The defendants involved in this conspiracy shamelessly targeted vulnerable elderly victims, stealing their personal identifying and bank account information and using it to take advantage of them,” said Acting U.S. Attorney Alexander C. Van Hook. “We urge everyone to make a habit of checking your bank accounts regularly to avoid becoming a victim of this type of fraud. If you see suspicious transactions, report it to your bank immediately.”
This case was investigated by the United States Secret Service, Federal Bureau of Investigation, Louisiana State Police and Shreveport Police Department and was prosecuted by Acting United States Attorney Alexander C. Van Hook.
TORTOLA, British Virgin Islands, Feb. 14, 2025 (GLOBE NEWSWIRE) — Goldmoney Inc. (TSX:XAU) (US:XAUMF) (“Goldmoney” or the “Company”) today announced financial results for the fiscal 2025 third quarter period ended December 31, 2024. All amounts are expressed in Canadian dollars unless otherwise noted.
Financial statements are available online at Sedar+ www.sedarplus.ca.
Financial Highlights
Group Tangible Capital of $138.8 million, an increase of 2.6% QoQ
Group Tangible Capital per Share of $10.40, an increase of 1.4% QoQ
Group Tangible Capital per Share excluding MENE of $9.45 per share, an increase of 1.6% QoQ
Adjusted Net Income of $3.9 million, a decrease of 11.2% QoQ
Quarterly Performance Metrics Table
Q3
Q2
Q1
Q4
Q3
Q2
Q1
Q4
KeyPerformanceMetrics(BalanceSheet)
Shares outstanding
13,348
13,182
13,060
13,137
13,449
13,777
13,926
13,996
Shareholder equity
152,487
149,026
147,984
141,178
173,761
172,602
173,224
172,123
Tangible equity inclusive of MENE
138,832
135,299
133,780
126,100
147,078
143,019
143,475
142,203
Tangible equity exclusive of MENE
126,164
122,631
113,217
105,457
113,059
108,396
108,756
107,599
Tangible equity per share ($CAD)
10.40
10.26
10.24
9.60
10.94
10.38
10.30
10.16
Tangible equity per share exclusive of MENE
9.45
9.30
8.67
8.03
8.41
7.87
7.81
7.69
KeyPerformanceMetrics(Operational)
Net income (loss)
2,891
(3,896
)
5,132
(32,095
)
6,005
2,009
1,995
(4,050
)
Total comprehensive income (loss)
2,628
792
6,077
(30,640
)
7,391
627
1,651
(4,053
)
Adjustments for revaluations, FX, stock compensation, and non-cash items
1,246
3,569
550
34,857
(1,350
)
2,310
1,903
7,020
Non-IFRS adjusted net income
3,874
4,361
6,627
4,217
6,040
2,937
3,554
2,966
KeyPerformanceMetrics(EarningsperShare)
Basic earnings (loss) per share
0.22
(0.29
)
0.39
(2.42
)
0.44
0.15
0.14
(0.27
)
Diluted earnings (loss) per share
0.22
(0.29
)
0.38
(2.42
)
0.44
0.14
0.14
(0.27
)
Non-IFRS adjusted net income per share
0.29
0.33
0.51
0.32
0.45
0.21
0.26
0.21
Financial Statement Restatement
Goldmoney also announces the restatement of previously issued financial statements for the years ended March 31, 2024 and 2023 (the “Restatement”).
Since the Company’s wholly owned subsidiary Goldmoney.com was founded, client cash and client precious metals had been treated as an off-balance sheet item and clearly disclosed as such in the Notes to the Company’s audited annual financial statements. The Restatement recognizes and presents client cash within Goldmoney.com on the Company’s consolidated balance sheet with a corresponding liability. This has been presented in prior years as a line item separate from the Company’s cash and cash equivalents. Consequently, the March 31, 2024, audited consolidated financial statements have been restated to capture this change in presentation, along with the related management’s discussion and analysis, and the 2024 Annual Information Form (collectively, the “Restatement Package”). This restated accounting presentation for client cash has also been reflected in the Company’s December 31, 2024, unaudited interim financial statements. There has been no impact to the Company’s financial statement presentation of historic equity or earnings as a result of this restatement.
The Restatement has been approved by the Board of Directors on the recommendation of the Audit Committee and management in connection with a review of its historic accounting treatment of client cash as off-balance sheet assets. Management considers these restatements to result from a material weakness in internal controls over financial reporting, and accordingly has implemented measures to address this weakness. As described in the restated annual information form and other public disclosure, Goldmoney Inc.’s wholly owned subsidiary Goldmoney.com operates an online platform which provides clients with access to purchase and sell precious metals, and to arrange for custody and storage in accordance with the terms of a standard-form client agreement available on the Goldmoney website (the “Client Agreement”). Cash balances used to settle purchases and sales are held in Company bank accounts.
Shareholders and users of Goldmoney’s financial statements should note that the Restatement is not a result of any change to its operations, business or financial operating performance for the restated periods. The Company continues to hold customer cash on behalf of its clients in accordance with and in full compliance with all of the terms of the Client Agreement.
The Restatement Documents have been filed at Sedar+ www.sedarplus.ca with the unaudited interim financial statements for the three- and nine-month period ended December 31, 2024, with restated unaudited comparative interim financial statements the three- and nine-month period ended December 31, 2023.
The effect of the restatement on the condensed consolidated interim statement of financial position and condensed consolidated interim statements of cash flows for the periods ended June 30, 2024 and September 30, 2024 are as follows:
Effect on Condensed Consolidated Interim Statements of Financial Position
As at June 30, 2024
Previously Reported ($)
Adjustment ($)
Restated ($)
Client cash
–
61,472,682
61,472,682
Total assets
193,484,934
61,472,682
254,957,616
Client liabilities
–
61,472,682
61,472,682
Total liabilities
45,500,586
61,472,682
106,973,268
Total liabilities and shareholders’ equity
193,484,934
61,472,682
254,957,616
As at September 30, 2024
Previously Reported ($)
Adjustment ($)
Restated ($)
Client cash
–
67,446,073
67,446,073
Total assets
195,538,391
67,446,073
262,984,464
Client liabilities
–
67,446,073
67,446,073
Total liabilities
46,512,066
67,446,073
113,958,139
Total liabilities and shareholders’ equity
195,538,391
67,446,073
262,984,464
Effect on Condensed Consolidated Interim Statements of Cash Flows
For the three month period ended June 30, 2024
Previously Reported ($)
Adjustment ($)
Restated ($)
Net cash provided by operating activities
7,683,278
2,859,508
10,542,786
Net cash used in investing activities
(6,963,178
)
–
(6,963,178
)
Net cash used in financing activities
(1,328,262
)
–
(1,328,262
)
Decrease in cash and cash equivalents and client cash
(608,162
)
2,859,508
2,251,346
For the three month period ended September 30, 2024
Previously Reported ($)
Adjustment ($)
Restated ($)
Net cash provided by operating activities
4,726,457
5,973,391
10,699,848
Net cash used in investing activities
(6,793,363
)
–
(6,793,363
)
Net cash used in financing activities
(1,640,059
)
–
(1,640,059
)
Decrease in cash and cash equivalents and client cash
(3,706,965
)
5,973,391
2,266,426
For the six month period ended September 30, 2024
Previously Reported ($)
Adjustment ($)
Restated ($)
Net cash provided by operating activities
12,409,735
8,832,899
21,242,634
Net cash used in investing activities
(13,756,541
)
–
(13,756,541
)
Net cash used in financing activities
(2,968,321
)
–
(2,968,321
)
Decrease in cash and cash equivalents and client cash
(4,315,127
)
8,832,899
4,517,772
About Goldmoney Inc.
Founded in 2001, Goldmoney (TSX:XAU) is a TSX listed company invested in the real economy. The leading custodians and traders of precious metals, Goldmoney Inc. also owns and operates businesses in jewelry manufacturing and property investment. For more information about Goldmoney, visit goldmoney.com.
Financial Information and IFRS Standards
The selected financial information included in this release is qualified in its entirety by, and should be read together with, the Company’s amended and restated consolidated financial statements for the fiscal year ended March 31, 2024 and prepared in accordance with IFRS Accounting Standards (“IFRS”) and the corresponding restated management’s discussion and analysis (“MD&A”), which are available under the Company’s profile on SEDAR+ at www.sedarplus.ca.
Non-IFRS Measures
This news release contains non-IFRS financial measures; the Company believes that these measures provide investors with useful supplemental information about the financial performance of its business, enable comparison of financial results between periods where certain items may vary independent of business performance, and allow for greater transparency with respect to key metrics used by management in operating its business. Although management believes these financial measures are important in evaluating the Company’s performance, they are not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with IFRS. These non-IFRS financial measures do not have any standardized meaning and may not be comparable with similar measures used by other companies. For certain non-IFRS financial measures, there are no directly comparable amounts under IFRS. These non-IFRS financial measures should not be viewed as alternatives to measures of financial performance determined in accordance with IFRS. Moreover, presentation of certain of these measures is provided for year-over-year comparison purposes, and investors should be cautioned that the effect of the adjustments thereto provided herein have an actual effect on the Company’s operating results.
Tangible Capital is a non-IFRS measure. This figure excludes from total shareholder equity (i) intangibles, and (ii) goodwill, and is useful to demonstrate the tangible capital employed by the business.
Non-IFRS Adjusted Net Income is a non-IFRS measure, defined as total comprehensive income (loss) adjusted for non-cash and non-core items which include, but is not limited to, revaluation of precious metal inventories, fair value movements, stock-based compensation, depreciation and amortization, foreign exchange fluctuations and gains and losses on investments.
For a full reconciliation of non-IFRS financial measures used herein to their nearest IFRS equivalents, please see the section entitled “Reconciliation of Non-IFRS Financial Measures” in the Company’s MD&A for the year ended March 31, 2024.
Media and Investor Relations inquiries:
Sean Ty Chief Financial Officer Goldmoney Inc. +1 647 250 7098
Forward-Looking Statements
This news release contains or refers to certain forward-looking information. Forward-looking information can often be identified by forward-looking words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “estimate”, “may”, “potential” and “will” or similar words suggesting future outcomes, or other expectations, beliefs, plans, objectives, assumptions, intentions or statements about future events or performance. All information other than information regarding historical fact, which addresses activities, events or developments that the Goldmoney Inc. believes, expects or anticipates will or may occur in the future, is forward-looking information. Forward-looking information does not constitute historical fact but reflects the current expectations the Company regarding future results or events based on information that is currently available. By their nature, forward-looking statements involve numerous assumptions, known and unknown risks and uncertainties, both general and specific, that contribute to the possibility that the predictions, forecasts, projections and other forward-looking information will not occur. Such forward-looking information in this release speak only as of the date hereof.
Forward-looking information in this release includes, but is not limited to, statements with respect to: financial performance and growth of the Company’s business; expected results of operations, the market for the Company’s products and services and competitive conditions; the establishment of a real estate investment strategy and the success of the Company’s real estate portfolio;the expected value and return on investment in the Company’s real estate acquisitions, and the properties described herein (the “Properties”) in particular, the ability of the current tenants on the Properties to meet their rental obligations, the future state of the Properties and the environment surrounding it, the ability of the Company to maintain and service the indebtedness incurred to acquire the properties, including any future refinancings, the ability of the Company to redevelop the properties as anticipated and, in general, return value from the Properties to shareholders; and the basis for the Restatement. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time it was made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others: the Company’s operating history; future capital needs and uncertainty of additional financing; fluctuations in the market price of the Company’s common shares; the effect of government regulation and compliance on the Company and the industry; legal and regulatory change and uncertainty; jurisdictional factors associated with international operations; foreign restrictions on the Company’s operations; product development and rapid technological change; dependence on technical infrastructure; protection of intellectual property; use and storage of personal information and compliance with privacy laws; network security risks; risk of system failure or inadequacy; the Company’s ability to manage rapid growth; competition; the ability to identify opportunities for growth internally and through acquisitions and strategic relationships on terms which are economic or at all; the ability to identify and complete the acquisition of suitable real estate investment opportunities on terms which are economic or at all; the global inflationary environment and its effect on real estate prices, interest rates, and the Properties in particular; the ability of the Company to integrate the Properties into its current operations; the anticipated value and income growth in connection with the Properties; the ability to maintain current and procure future commercial tenants for the Properties; the surrounding environment and infrastructure of the Properties remaining suitable; the ability to redevelop the Properties on terms which are economic or at all; the anticipated variable interest rate for the loan used to finance the acquisition of the Properties, and the effect on this interest rate from the SONIA as set by the Bank of England; the ability to successfully develop and manage the Company’s real estate portfolio; the risks of concentration of the Company’s real estate portfolio in the United Kingdom; effectiveness of the Company’s risk management and internal controls; use of the Company’s services for improper or illegal purposes; uninsured and underinsured losses; theft & risk of physical harm to personnel; precious metal trading risks; and volatility of precious metals prices & public interest in precious metals investment; the potential that additional restatements of the financial statements will be required; the impact on the Company’s reputation and customer relation in respect of the Restatement; risks associated with regulatory reviews and investigations; risks that the Restatement or any future required restatement may negatively affect the Company’s financial condition or result in additional liabilities; the potential impact on investor confidence, market perception, and the Company’s reputation in respect of the Restatement; risks related to maintaining adequate liquidity and access to capital while resolving restatement matters; and those risks set out in the Company’s most recently filed annual information form, available on SEDAR. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation to update or revise any forward-looking information, except as required by law.
Product structured to provide crypto asset exposure by tracking the Nasdaq Crypto US™ Index (NCIUS™), a benchmark for institutional investment in certain market-leading crypto assets
Hashdex and Nasdaq Global Indexes continue to be at the forefront of crypto index product innovation, offering investors and wealth managers access tothefirst multi-asset spot crypto ETP in the United States
New York, February 14, 2025 – Hashdex Asset Management Ltd. (“Hashdex”), a leading global crypto-focused asset manager, and Nasdaq Global Indexes, which has been creating innovative, transparent indexes for more than 50 years, today announced the launch of the Hashdex Nasdaq Crypto Index US ETF (the “Product” or “NCIQ”) [Ticker: NCIQ], the first multi-asset spot crypto exchange traded product (“ETP”) available to U.S. investors. The Product, which is now trading on the Nasdaq Stock Market® under ticker NCIQ, currently offers exposure to both spot bitcoin (“BTC”) and ether (“ETH”). NCIQ’s management fee is contractually set at 0.25% per annum of the daily net asset value (“NAV”) of the Product through the end of 2025, and then 0.50% thereafter.
The Hashdex Nasdaq Crypto Index US ETF provides U.S. investors with direct access to the two leading crypto assets by trading volume in the U.S., currently with a combined market capitalization of over $2.3 trillion,1 all through one tradeable product. NCIQ tracks the Nasdaq Crypto US™ Index (“NCIUS”), which was co-developed by Nasdaq Global Indexes and Hashdex to measure the performance of a material portion of the overall crypto asset market by investing in the index constituents. The NCIUS is based on strict criteria like liquidity, market capitalization, and regulatory compliance. Currently, only bitcoin and ether are eligible for inclusion in the NCIUS. The launch of NCIQ builds on Hashdex’s track record of innovation and global market leadership in crypto index-based products, with the firm currently managing the largest multi-asset crypto ETP in Europe2 and the largest ETF in Latin America.3
“Since our founding, Hashdex has held the belief that a basket of crypto assets offers multiple benefits and is a great way for many investors to participate in the crypto ecosystem. Until today, U.S. investors have been forced to either purchase coins directly or invest in single-asset vehicles,” said Marcelo Sampaio, Co-Founder and CEO of Hashdex. “Now, with the launch of NCIQ, we are proud to deliver a familiar and readily tradeable U.S.-based product that provides seamless exposure to bitcoin and ether. Alongside our partners at Nasdaq Global Indexes, we are thrilled to take this exciting step in bringing our expertise in crypto index and crypto index-based products to U.S. investors, and we look forward to continuing to deliver innovative crypto index products as the industry and regulatory landscape further evolves.”
The launch of NCIQ marks an important milestone in the U.S. crypto market and continues the long-term partnership between Hashdex and Nasdaq Global Indexes. Hashdex and Nasdaq Global Indexes have been among the pioneers in developing crypto index and index-based products since 2021.
“Nasdaq Global Indexes and Hashdex share a mission of advancing crypto asset indexes and financial vehicles to meet the ever-growing demand from investors looking for access to the rapidly evolving crypto sector,” said Cameron Lilja, Vice President and Global Head of Index Product and Operations, Nasdaq Global Indexes. “Nasdaq Crypto™ Indexes offer a standardized approach to capturing the performance of a material portion of the overall crypto asset market, serving as a guidepost in the dynamic crypto asset landscape. Today’s announcement marks a significant step forward in bringing a rules-based methodology-driven benchmark to US investors, adding to comparable products in Europe and Latin America.”
Hashdex serves as the sponsor for NCIQ. Paralel Distributors LLC serves as marketing agent, and Coinbase Custody and BitGo Trust serve as crypto asset custodians. Nasdaq serves as the index administrator and listing venue. The fund administrator is U.S. Bank Global Fund Services.
“With interest in crypto asset ETFs continuing to grow, reaching over $120 billion in U.S. AUM alone4, we believe that what investors really need is an easy, passive way to invest in a product that is constantly evolving to capture the latest trends in the broader crypto market. With a structure similar to traditional index products, NCIQ offers investors a multi-asset investment approach that is proven, familiar, and readily tradeable,” said Samir Kerbage, CIO at Hashdex. “As the crypto market continues to develop, we expect there to be ongoing volatility with newer coins that disrupt the market share of bitcoin, ether and other dominant assets, and we expect index-based products will enable wealth managers and investors to benefit from the growth of the rapidly changing sector without needing to be actively managing single asset crypto exposure.”
Hashdex has no role in maintaining, calculating or publishing NCIUS.
A registration statement (including a prospectus) has been filed with the SEC for the offering to which this communication relates and can be found here:https://www.sec.gov/Archives/edgar/data/2031069/000121390025013738/ea0209567-10.htm. Before you invest, you should read the prospectus in that registration statement and other documents that have been filed with the SEC for more complete information about NCIQ and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, Hashdex will arrange to send you the prospectus, if you request it by calling toll-free 917-525-5635.
About Hashdex Hashdex is a global pioneer in crypto asset management. The firm’s mission is to provide educational resources and best-in-class products that advance its efforts to help open the crypto ecosystem to investors around the world. Hashdex co-developed the Nasdaq Crypto™ Index (NCI™) with Nasdaq to provide global investors with a reliable benchmark for the crypto asset class. In 2021, Hashdex introduced the world’s first crypto ETF5 and other innovative products, enabling over 350,000 investors to simply and securely add crypto to their portfolios. Since 2018, Hashdex has established itself as a global leader in crypto index ETFs, helping to pave the way for crypto’s mainstream adoption across eight countries. Hashdex currently offers 4 index products tracking the global version of the NCI™, including the largest multi-asset crypto ETF in the world.6 Additionally, the Hashdex Nasdaq Crypto Index Europe ETP (“HASH”) is the largest multi-asset crypto ETP in Europe and recently won ETF Stream’s Digital Asset ETP of the year award.7 The firm’s total AUM across its range of products is more than $1.3 billion.8
Hashdex Media Contacts: Kendal Till/Josh Gerth Dukas Linden Public Relations Hashdex@DLPR.com
Legal Disclaimer
Carefully consider the investment objectives, risks, charges and expenses before investing.
Investing involves risk, including possible loss of principal. The Product, an exchange traded product, is not an investment company registered under the Investment Company Act of 1940 (“1940 Act”). Shares of the Product are not subject to the same regulations and protections as 1940 Act registered ETFs and mutual funds.
Shares of the Product are bought and sold at a market price, not at net asset value. Brokerage commissions will reduce returns.
This material expresses the opinion of Hashdex Group and its subsidiaries and affiliates (“Hashdex”) for informational purposes only and does not consider the investment objectives, financial situation or individual needs of any one investor or a particular group of investors. Certain opinions and viewpoints expressed may reflect personal views of the authors and not necessarily those of Hashdex. We recommend consulting specialized professionals for investment decisions. Investors are advised to carefully read the prospectus or regulations before investing in their products. The information and conclusions contained in this material may be changed at any time, without prior notice. Nothing contained herein constitutes an offer, solicitation or recommendation regarding any investment management product or service. This information is not directed at or intended for distribution to or use by any person or entity located in any jurisdiction where such distribution, publication, availability or use would be contrary to applicable law or regulation or which would subject Hashdex to any registration or licensing requirements within such jurisdiction.
Important Risks
Investment in any investment vehicle and cryptoassets is highly speculative and is not intended as a complete investment program. It is designed only for sophisticated persons who can bear the economic risk of the loss of their entire investment and who have limited need for liquidity in their investment. There can be no assurance that the investment vehicle will achieve its investment objective or return any capital. No guarantee or representation is made that Hashdex’s investment strategy, including, without limitation, its business and investment objectives, diversification strategies or risk monitoring goals, will be successful, and investment results may vary substantially over time. Nothing herein is intended to imply that the Hashdex investment methodology or that investing in any of the Product or crypto assets referenced herein may be considered “conservative,” “safe,” “risk free,” or “risk averse.”
Certain information contained herein (including financial information) has been obtained from published and non-published sources. Such information has not been independently verified by Hashdex. Hashdex does not provide tax, accounting or legal advice. Certain information contained herein constitutes forward-looking statements, which can be identified by the use of terms such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue” “believe” and “seek” (or the negatives thereof) or other variations thereof. Due to various risks and uncertainties, including those discussed above, actual events or results, the ultimate business or activities of Hashdex and its investment vehicles or the actual performance of Hashdex, its investment vehicles, or crypto assets may differ materially from those reflected or contemplated in such forward-looking statements. As a result, investors should not rely on such forward- looking statements in making their investment decisions. No governmental authority has opined on the merits of Hashdex’s investment vehicles or the adequacy of the information contained herein.
This material is not an offer or solicitation of any kind to buy or sell any securities outside of the United States of America.
Product Risks
An investment in the Product involves significant risks and you could incur a partial or total loss of your investment in the Product.
Crypto assets generally are volatile, and instruments whose underlying investments include crypto assets are not suitable for all investors. Crypto assets represent a new and rapidly evolving industry. The value of the Product depends on the acceptance of the crypto assets, the capabilities and development of blockchain technologies and the fundamental investment characteristics of the crypto assets. Crypto platforms may be largely unregulated or may be largely or entirely non-compliant with applicable regulation and may therefore be more exposed to fraud and failure. Crypto asset markets in the U.S. exist in a state of regulatory uncertainty, and adverse legislative or regulatory developments could significantly harm the Product.
The market for crypto assets is still developing and may be subject to periods of illiquidity. During such times it may be difficult or impossible to buy or sell a position at the desired price. Possible illiquid markets may exacerbate losses or increase the variability between the Product’s NAV and its market price. The lack of active trading markets for the Product shares may result in losses on investors’ investments at the time of disposition of the Product’s shares.
Both the Index and the Product are new with a limited operating history.
Nasdaq® is a registered trademark of Nasdaq, Inc. Corporations make no representation or warranty, whether express or implied, to the owners of the fund(s) or any member of the public regarding the suitability of investing in securities in general or in the fund(s) in particular, or the ability of the Nasdaq Crypto US Index to track the performance of the market for crypto assets, or any portion thereof. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular digital asset or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any digital asset or any representation about the financial condition of a digital asset. Statements regarding Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate assets before investing. ADVICE FROM A FINANCIAL PROFESSIONAL IS STRONGLY ADVISED.
1 Bitcoin’s market cap was $1.92T and ether’s market cap was $387B, according to Messari.io data as of January 13, 2025 2 The Hashdex Nasdaq Crypto Index Europe ETP (HASH) is the largest multi-asset crypto ETP in Europe according to Bloomberg fund asset data for the “Western Europe” region as of January 7, 2025 3 The Hashdex Nasdaq Crypto Index Fundo de Indice (HASH11) is the largest multi-asset crypto ETF in Latin America according to Bloomberg fund asset data for the “Central & South America” region as of January 7, 2025 4 Blockworks.co data on Bitcoin and Ethereum ETFs in the U.S. as of February 10, 2025. 5 The Hashdex Nasdaq Crypto Index ETF began trading on the Bermuda Stock Exchange on February 9, 2021. 6 The Hashdex Nasdaq Crypto Index Fundo de Indice (HASH11) is the largest multi-asset crypto ETF in the world according to Bloomberg fund asset data for all regions as of January 7, 2025 7 https://www.etfstream.com/articles/etf-stream-reveals-winners-of-etf-awards-2024 8 Hashdex AUM data as of February 10, 2025, https://hashdex.com/en-US
DLR Kredit A/S has set the following dates in 2025 for the publication of financial statements and the holding of the ordinary general meeting:
Annual Report 2024 7 February 2025 General Meeting 29 April 2025 Interim Report for Q1 2025 29 April 2025 Interim Report for H1 2025 21 August 2025 Interim Report for Q1-Q3 2025 29 October 2025
The announcements will be available on DLR Kredits’s A/S website: www.dlr.dk immediately after publication.
Kind regards,
DLR Kredit A/S
For further inquiries, please contact Jakob Kongsgaard Olsson, tel.: +45 40 30 33 51
GADSDEN, Ala., Feb. 14, 2025 (GLOBE NEWSWIRE) — The Southern Banc Company, Inc. (OTCBB: SRNN), the holding company for The Southern Bank Company, formerly First Federal Savings and Loan Association of Gadsden, Alabama, announced net income of approximately $369,000, or $0.49 per basic share and $0.48 per diluted share, for the three months ended December 31, 2024, as compared to net income of approximately $471,000, or $0.62 per basic share and $0.61 per diluted share, for the three months ended December 31, 2023. For the six months ended December 31, 2024, the Company recorded net income of approximately $545,000, or $0.72 per basic share and $0.71 per diluted share, as compared to net income of approximately $837,000, or $1.10 per basic share and $1.09 per diluted share, for the six months ended December 31, 2023. The Company’s fiscal year ends June 30, 2025.
Gates Little, President and Chief Executive Officer of the Company, stated that the Company’s net interest income before provision for loan losses totaled approximately $2.213 million during the three months ended December 31, 2024, as compared to approximately $2.013 million in the same period in 2023, an increase of approximately $201,000, or 9.96%. The increase in the net interest income before provision for loan losses for the three months ended December 31, 2024, was primarily attributable to an increase in total interest income of approximately $430,000, offset by an increase in total interest expense of approximately $230,000. In the three months ended December 31, 2024, the Bank recorded a provision for loan losses of approximately $70,000 and no provision for loan losses in during the three months ended December 31, 2023. For the three months ended December 31, 2024, total non-interest income increased approximately $9,000, or 6.09%, while total non-interest expense increased approximately $278,000, or 18.25%, as compared to the same three-month period in 2023. The increase in non-interest income was primarily attributable to an increase in miscellaneous income of approximately $10,000. The increase in non-interest expense was primarily attributable to increases in salaries and benefits of approximately $222,000, office building expense of approximately $6,000, other operating expense of approximately $16,000, professional service expense of approximately $45,000, offset by a decrease in data processing expense of approximately $12,000.
For the six months ended December 31, 2024, the Company’s net interest income before provision for loan losses totaled approximately $4.363 million, an increase of approximately $479,000, or 12.33%, when compared to the six months ended December 31, 2023. The increase in net interest income before provision for loan losses was primarily attributable to an increase in total interest income of approximately $965,000, or 20.38%, offset by an increase in total interest expense of approximately $486,000, or 57.19%. For the six months ended December 31, 2024, the Bank recorded provisions for loan losses of approximately $442,000. There was no provision for loan losses during the six months ended December 31, 2023. For the six months ended December 31, 2024, total non-interest income increased approximately $12,000, or 4.10%, compared to the same period in 2023, while non-interest expense increased approximately $444,000, or 14.59%. The increase in non-interest income was primarily attributable to an increase in miscellaneous income of approximately $14,000. The increase in non-interest expense was primarily attributable to increases in salaries and benefits of approximately $340,000, office and equipment of approximately $14,000, professional service expenses of approximately $119,000 offset in part by decreases in data processing expense of approximately $15,000, and other operating expense of approximately $15,000.
The Company’s total assets at December 31, 2024 were approximately $117.0 million, as compared to approximately $113.0 million at June 30, 2024. Total stockholders’ equity was approximately $15.5 million at December 31, 2024, or 13.2% of total assets, as compared to approximately $14.5 million at June 30, 2024, or 12.80% of total assets.
The Bank has four full-service banking offices located in Gadsden, Albertville, Guntersville, and Centre, AL, and one loan production office in Birmingham, AL. The stock of The Southern Banc Company, Inc. trades in the over-the-counter market under the symbol “SRNN”.
Certain statements in this release contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which statements can generally be identified by the use of forward-looking terminology, such as “may,” “will,” “expect,” “estimate,” “anticipate,” “believe,” “target,” “plan,” “project,” “continue,” or the negatives thereof, or other variations thereon or similar terminology, and are made on the basis of management’s plans and current analyses of the Company, its business and the industry as a whole. These forward-looking statements are subject to risks and uncertainties, including, but not limited to, economic conditions, competition, interest rate sensitivity and exposure to regulatory and legislative changes. The above factors, in some cases, have affected, and in the future could affect the Company’s financial performance and could cause actual results to differ materially from those expressed or implied in such forward-looking statements, even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
(Selected financial data attached)
THE SOUTHERN BANC COMPANY, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Dollar Amounts in Thousands)
December 31,
June 30,
2024
2024
Unaudited
Audited
ASSETS
CASH AND CASH EQUIVALENTS
$
16,592
$
12,632
SECURITIES AVAILABLE FOR SALE, at fair value
39,238
37,912
FEDERAL HOME LOAN BANK STOCK
120
120
LOANS RECEIVABLE, net of allowance for loan losses of $1,548 and $1,151, respectively
56,999
58,199
PREMISES AND EQUIPMENT, net
1,059
1,133
ACCRUED INTEREST AND DIVIDENDS RECEIVABLE
946
934
PREPAID EXPENSES AND OTHER ASSETS
2,055
2,124
TOTAL ASSETS
$
117,009
$
113,054
LIABILITIES
DEPOSITS
$
95,528
$
92,250
FHLB ADVANCES
0
0
OTHER LIABILITIES
6,035
6,338
TOTAL LIABILITIES
101,563
98,588
STOCKHOLDERS’ EQUITY:
Preferred stock, par value $.01 per share
500,000 shares authorized; no shares issued and outstanding
–
–
Common stock, par value $.01 per share,
3,500,000 authorized, 1,454,750 shares issued
15
15
Additional paid-in capital
13,946
13,943
Shares held in trust, 49,081 and 46,454 shares at cost, respectively
(804
)
(772
)
Retained earnings
14,429
13,884
Treasury stock, at cost, 648,664 shares
(8,825
)
(8,825
)
Accumulated other comprehensive (loss) income
(3,315
)
(3,779
)
TOTAL STOCKHOLDERS’ EQUITY
15,446
14,466
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
$
117,009
$
113,054
THE SOUTHERN BANC COMPANY, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Dollar Amounts in Thousands, except per share data)
Three Months Ended
Six Months Ended
December 31,
December 31,
2024 (Unaudited)
2023
2024 (Unaudited)
2023
INTEREST INCOME:
Interest and fees on loans
$
2,598
$
2,210
$
5,072
$
4,176
Interest and dividends on securities
179
183
345
369
Other interest income
126
80
281
188
Total interest income
2,903
2,473
5,698
4,733
INTEREST EXPENSE:
Interest on deposits
690
460
1,335
849
Interest on borrowings
0
0
0
0
Total interest expense
690
460
1,335
849
Net interest income before provision for loan losses
2,213
2,013
4,363
3,884
Provision for loan losses
69
0
442
0
Net interest income after provision for loan losses
SINGAPORE, Feb. 14, 2025 (GLOBE NEWSWIRE) — As the price of Bitcoin hovers around the $100,000 mark, many analysts predict that the market is entering a high-volatility phase. To help traders capitalize on these dynamic market conditions, BexBack Exchange has rolled out an unbeatable offer, featuring 100x leverage, a 100% deposit bonus, and a $50 welcome bonus for new users. What sets BexBack apart is its no KYC policy, ensuring seamless, private, and efficient trading for users globally.
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Disclaimer: This content is provided by BexBack. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
DUBAI, United Arab Emirates, Feb. 14, 2025 (GLOBE NEWSWIRE) — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has unveiled the first ecosystem partner of the Bybit Card, AVAX. First in the market to enable rewards in AVAX, the Bybit Card has expanded its auto cashback options yet again, affording users more flexibility in their crypto payment journey. The activation comes with extra perks for Bybit Card holders in a limited-time campaign for the popular altcoin.
AVAX is the native utility token of the Avalanche network. Avalanche is a high-performance blockchain platform designed for builders who need to scale. Engineered with a revolutionary three-part Layer 1 (L1) architecture, Avalanche is anchored by its Avalanche Consensus Mechanism, ensuring near-instant finality for transactions. The platform also features an open-source Layer 0 (L0) framework, enabling the seamless creation of interoperable Layer 1 blockchains with high throughput on both public and private networks.
Now with the Bybit Card, users have the option to turn on AVAX Cashback, experiencing a brand new seamless on and off-ramp experience with AVAX. Supporting paying, saving, and holding with AVAX, Bybit users can earn AVAX through cashback rewards on daily spending using the Bybit Card.
For Avalanche’s global community, the new feature opens up a new avenue for them to foster the growth of the network with a swipe of the Bybit Card. Eligible cardholders will also qualify for extra bonuses through the Bybit Card’s year-round rewards campaigns, making their shopping sprees and holiday spending more worthwhile.
To celebrate the occasion, the Bybit Card is welcoming AVAX into the ecosystem with an AVAX-only perk. Eligible users may toggle their AVAX default cashback option to get up to 10% cashback in AVAX for a limited time.
“Bybit and the Avalanche community are synchronized in our vision for a blockchain-enabled future that benefits all. Our efforts to increase adoption of scalable smart contracts and crypto as a digital asset class are building blocks of the digital economy. And with the Bybit Card, our customers can contribute to their favorite blockchains through simple daily spendings,” said Joan Han, Sales and Marketing Director at Bybit.
The Bybit Card offers an intuitive and rewarding way for believers in crypto to use, save, and potentially earn yield on their digital assets. Card holders can experience the entire customer journey online by applying for the Bybit Card and start tapping away as soon as they receive their approved virtual card. The crypto-native payment gateway also comes with year-round benefits, up to 8% APR on eligible holdings, and no-frills cashback mechanisms.
#Bybit / #TheCryptoArk #TheBybitCard
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
Source: United Kingdom – Executive Government & Departments
The Foreign Secretary will press partners to replicate Britain’s world-first plans for a sanctions aimed at organised immigration crime gangs.
Foreign Secretary urges international action on one of the defining security threats of our time – irregular migration
Partners pressed to replicate UK’s world-first plans for sanctions targeting people smugglers
£8m additional funding will short-circuit people smugglers’ business model, delivering on the government’s Plan for Change and commitment to protect UK borders
European partners will be urged to join up with the UK’s pioneering efforts to smash the business model of people smugglers to help tackle irregular migration.
The Foreign Secretary David Lammy will press partners at the Munich Security Conference to replicate Britain’s world-first plans for a sanctions regime aimed squarely at organised immigration crime gangs and their networks.
On the first day of the conference (today), the Foreign Secretary met Vice President of the US J.D. Vance. They discussed the importance of the special relationship, the war in Ukraine, their shared commitment to NATO and AUKUS, and building on our strong trade which already delivers growth and jobs for millions.
The UK and Italy will co-host a migration roundtable on the second day of conference, gathering representatives from The Netherlands, Poland, Bulgaria, Romania, Germany and others to promote the use of innovative tools to tackle migrant smuggling and organised immigration crime.
The UK’s plans to freeze the assets of and slap travel bans on smugglers who facilitate the deadly trade in people will help to cripple people-smuggling crime rings and starve them of illicit finance fuelling their operations, delivering on the government’s commitment to secure borders.
The Government is targeting irregular migration through a ‘whole-of-route’ approach, tackling both smugglers and the drivers of migration – such as limited opportunities in would-be migrants’ region.
A new £8m funding package announced today will give more people in East Africa an alternative to making perilous journeys to the UK in small boats by boosting access to education alongside employment opportunities across the region.
This programme has already helped to deliver entrepreneurship training to over 650 would-be and returned migrants in Ethiopia and Kenya, enabling many of them to set up their own businesses in their home countries, rather than migrating further afield.
Foreign Secretary, David Lammy said:
Criminal gangs enabling irregular migration are a national security threat across Europe. We must deliver on our mandate to smash the gangs, secure this country’s borders and deliver the Plan for Change.
Only by working together with our neighbours will we take the wind out of their sails and degrade the appalling trade in people.
We must also target the root causes of migration, which is why we are boosting opportunities across Eastern Africa – making people less likely to travel to the UK in the first place.
This will further boost this government’s progress on irregular migration. Nearly 19,000 failed asylum seekers, foreign criminals and other immigration offenders have been returned since the election to countries across Africa, Asia, Europe and South America following a major escalation in immigration enforcement by the Home Office.
The government’s success in ramping up removals is a key part of our Plan for Change to deliver on working people’s priorities and finally restoring order to the asylum system. This new approach focusses on breaking the business model of smuggling gangs through tougher law enforcement powers than ever before, rapidly removing those who are here illegally and ending the false promise of jobs used by gangs to sell spaces on boats.
Following a drive from this government to have more deployable enforcement staff, a renewed crackdown on those attempting to undermine the UK’s borders last month saw the highest January in over half a decade for enforcement activity.
Throughout January alone, Immigration Enforcement teams descended on 828 premises, including nail bars, convenience stores, restaurants and car washes, marking a 48% rise compared to the previous January. Arrests also surged to 609, demonstrating a 73% increase from just 352 the previous year.
Source: United States Senator Ben Ray Luján (D-New Mexico)
Heinrich, Luján, Leger Fernández, Stansbury, Vasquez: “Large-scale firings of probationary employees would ripple through our communities, reducing consumer spending, straining local businesses, and creating unnecessary economic instability”
“Federal agencies must be staffed by qualified professionals, not political loyalists”
Washington, D.C. — U.S. Senators Martin Heinrich (D-N.M.) and Ben Ray Luján (D-N.M.), and U.S. Representatives Teresa Leger Fernández (D-N.M.), Melanie Stansbury (D-N.M.), and Gabe Vasquez (D-N.M.) are demanding that President Trump immediately halt his unlawful mass firings of federal employees on probationary status.
Nearly all federal employees are routinely in a probationary period for the first one or two years of service and more than 200,000 of them are on probationary status across the federal government. In New Mexico, there are approximately 2,200 federal employees in their probationary period – including individuals who serve in critical roles across key agencies, including the Veterans Health Administration, the Bureau of Land Management, the U.S. Forest Service, and the Federal Bureau of Investigation, among others.
“Abruptly terminating these employees without due process would not only undermine the delivery of essential government services but would also have widespread economic consequences for our state. Federal employment is a major contributor to New Mexico’s economy, supporting thousands of families and generating significant local revenue. Large-scale firings of probationary employees would ripple through our communities, reducing consumer spending, straining local businesses, and creating unnecessary economic instability,” the lawmakers wrote in their letter to President Trump.
The delegation emphasized how these firings could endanger the safety of New Mexicans, “Recent reports highlight the Federal Bureau of Investigation’s extensive training and reliance on probationary employees, with new agents and support staff actively investigating crimes nationwide. Dismissing these employees could have dire consequences on national security and public safety. Such firings are sure to weaken national security by removing personnel involved in critical investigations. The loss of these agents would leave vital work unfinished and could compromise public safety both in the present and for years to come.”
Additionally, the delegation highlighted that probationary employees are subject to established federal workforce protections, underscoring the unlawfulness of terminating employees for reasons other than performance or conduct issues, “Concerns have already been raised about the legality of these terminations, noting that mass layoffs without individualized assessments violate existing federal workforce statutes. Federal law permits the termination of probationary employees based on performance or conduct. It does not allow for large-scale firings without individualized assessments or adherence to Reduction in Force procedures. Additionally, it explicitly prohibits dismissing probationary employees for partisan political reasons. Federal agencies must be staffed by qualified professionals, not political loyalists.”
The lawmakers demanded, “We urge your Administration to halt any plans for mass firings of probationary employees in New Mexico and across the country.”
The text of the letter is here and below:
Dear President Trump,
We write to express serious concerns about your Administration’s efforts to target federal employees, particularly those on probationary status. Probationary employees are subject to established federal workforce protections, including adherence to Reduction in Force (RIF) procedures (5 C.F.R. § 351.201(a)(1)). Any attempt to circumvent legal protections by imposing mass terminations would be unprecedented, disruptive, and illegal.
Nationally, there are more than 2.4 million federal workers. Nearly all federal employees are routinely in a probationary period for the first one or two years of service and more than 200,000 of them are on probationary status across the federal government. In New Mexico, there are approximately 2,200 federal employees in their probationary period – including individuals who serve in critical roles across key agencies, including the Veterans Health Administration, the Bureau of Land Management, the U.S. Forest Service, and the Federal Bureau of Investigation, among others.
Abruptly terminating these employees without due process would not only undermine the delivery of essential government services but would also have widespread economic consequences for our state. Federal employment is a major contributor to New Mexico’s economy, supporting thousands of families and generating significant local revenue. Large-scale firings of probationary employees would ripple through our communities, reducing consumer spending, straining local businesses, and creating unnecessary economic instability.
Immediately terminating probationary employees also risks long-term harm to the federal workforce. Many of these probationary employees represent the next generation of skilled public servants – 27% are under the age of 30 – and they report the highest levels of job engagement across the federal workforce. Signaling that federal employment is unstable and subject to arbitrary dismissal will undermine recruitment and retention efforts, making it harder for agencies to attract and keep the skilled professionals essential to their missions (5 C.F.R. § 351.501).
Concerns have already been raised about the legality of these terminations, noting that mass layoffs without individualized assessments violate existing federal workforce statutes. Federal law permits the termination of probationary employees based on performance or conduct. It does not allow for large-scale firings without individualized assessments or adherence to Reduction in Force procedures. Additionally, it explicitly prohibits dismissing probationary employees for partisan political reasons. Federal agencies must be staffed by qualified professionals, not political loyalists.
Particularly concerning are the potential implications for public safety. Recent reports highlight the Federal Bureau of Investigation’s extensive training and reliance on probationary employees, with new agents and support staff actively investigating crimes nationwide. Dismissing these employees could have dire consequences on national security and public safety. Such firings are sure to weaken national security by removing personnel involved in critical investigations. The loss of these agents would leave vital work unfinished and could compromise public safety both in the present and for years to come.
Given all of the above, we urge your Administration to halt any plans for mass firings of probationary employees in New Mexico and across the country.
Source: State University Higher School of Economics – State University Higher School of Economics –
Photo: Higher School of Economics
Thanks to the rapid development of digital technologies, the banking sector is going through a period of profound transformation. One of the key changes was the transition to a human-centric model, in which priority is given to the interests and needs of the client. This topic was discussed at the webinar Laboratories of human-centeredness and leadership practices HSE and the Bank of Russia. The event brought together over 1,400 representatives of banking and financial organizations from all over Russia.
The webinar was a logical continuation conferences “Focus on the Client”, which was attended by the Chairman of the Bank of Russia Elvira Nabiullina and top management of leading Russian banks. The moderator of the plenary session was Vladimir Solovyov, Head of the Laboratory of Human-Centricity and Leadership Practices at the National Research University Higher School of Economics (CHIL Laboratory). The experts discussed what a smart bank of the future should be like.
The webinar participants were able to delve deeper into the theory and practice of implementing human-centricity in banks, noted Ekaterina Butova, First Deputy Head of the Service for the Protection of Consumer Rights and Ensuring the Availability of Financial Services of the Bank of Russia.
The key event of the webinar was the presentation of the results of the study conducted last year by the CHIL Laboratory and the International Laboratory of Digital Transformation in Public Administration under the auspices of the Bank of Russia. It was based on a model developed by the CHIL Laboratory, consisting of eight key aspects that allow measuring the level of human-centricity in an organization. This tool can be used by banks to assess the current situation and further development. A survey of more than 16 thousand respondents was conducted – managers and employees of government agencies.
“The results showed that the bank of the future is a human-centric cognitive bank, where artificial and human intelligence work in synergy to deeply understand customers and offer personalized solutions,” the head of the bank noted. International laboratory of CTSU Evgeny Styrin.
At the same time, in-depth interviews revealed that the introduction of AI and other digital tools into banking processes has both significant advantages and a number of disadvantages, and also leads to the emergence of ethical challenges.
“34% of respondents do not want to communicate with virtual voice assistants. At the same time, negative emotions that arise during communication with them multiply very quickly, while the emergence and consolidation of positive associations requires serious efforts,” explained Oleg Samolyanov, chief expert of the CHIL Laboratory.
Representatives of major Russian banks shared their vision of the smart bank of the future. Nikolay Tiden, Director of the Modeling and Data Research Division of the Sales Network Block of Sberbank, believes that the basis for the development of banks of the future is personalization and security. The use of artificial intelligence at all stages of interaction with clients makes user services simpler, more convenient, more reliable and more profitable.
“A smart bank of the future values its employees, understands its clients and knows how to adapt its products and services to their needs, including actively introducing new technologies,” says Vyacheslav Rodnishev, Director of the Customer Experience and Retail Business Coordination Department at Alfa-Bank.
At the same time, the implementation of AI solutions in the banking sector is associated with a number of ethical challenges, including data bias, protection of personal information, responsibility for AI decisions and transparency of algorithms.
“One of the most important aspects of monitoring the ethics and correctness of artificial intelligence is monitoring its work and quality. The user must feel that the bank’s AI is attentive to his interests, accurate in its answers and financial forecasts,” says Ivan Sidorovsky, head of products for ecosystem assistants at T-Bank.
Currently, the issues of customer trust in smart assistants developed by banking organizations and the ethics of using artificial intelligence have not been fully resolved; their discussion in the expert community continues. The solution will require a comprehensive approach combining technological, organizational and regulatory measures.
“From the point of view of the Central Bank as a regulator, human-centricity is the key that helps to solve the root problems underlying some disputes, misunderstandings and difficulties that arise between the consumer and the financial institution,” notes Mikhail Mamuta, Head of the Service for Consumer Rights Protection and Ensuring Accessibility of Financial Services at the Bank of Russia.
He emphasizes that human-centricity in financial organizations should begin with caring for employees, who, in turn, will transfer it to clients. Then the financial world will become more harmonious.
The content of the discussion about human-centricity in the context of digital transformation and the use of AI largely depends on the ability to rely on structured data and the results of sociological research.
“Today, an important and urgent task for our team is to monitor the transformation of the banking sector towards human-centricity: what new tools are emerging, what problems organizations face and how they solve them. And artificial intelligence in all its manifestations is certainly one of the key factors influencing the development of human-centricity,” Vladimir Solovyov summarized.
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
. Pillen Advocates for Merging Agencies, Improving State’s Water Quantity & Quality
LINCOLN, NE – Today, Governor Jim Pillen testified before the Nebraska Legislature’s Natural Resources Committee in favor of LB317 to merge the Department of Natural Resources (DNR) with the Department of Environment and Energy (DEE). Senator Tom Brandt introduced LB317 at the Governor’s request.
“Nebraska is at the center of an economic boom with announcements of new hydrogen, advanced biofuels and bio-based products, animal processing plants and data centers looking to locate here. All these industries will require water,” said Gov. Pillen. “Moving forward, we need to double-down on our efforts to protect and enhance this valuable resource. Combining DEE and DNR sets the foundation for water quantity and quality under the same leadership.”
During his bill introduction, Sen. Brandt also touched on the collaboration between the agencies for water planning, state investments in water infrastructure projects and continued leadership by the state in resource management innovation.
“This merger will also reduce costs by eliminating overlapping administrative functions while improving outcomes in personnel management, financial oversight, and IT,” said Sen. Brandt. “Streamlining state permitting for water-related projects will cut red tape and enable quicker, more efficient progress on projects that matter to our communities.”
Yesterday, Gov. Pillen announced his appointment of Jesse Bradley to serve as interim director of DEE. Bradley is also the interim director of DNR. He addressed the overarching benefit of housing DEE and DNR under what would be known as the Department of Water, Energy and Environment.
“By combining the agencies’ efforts, the state will improve its focus on challenging long-term water and natural resource management issues such as nitrogen management, water utilization and soil health. The merging of the two departments is expected to allow customers, who currently work with both DNR and DEE separately, the ability to streamline their planning and permitting efforts by working with a single department.”
Also testifying in favor of LB317 was Tim McCoy, director of the Game & Parks Commission.
Source: Federal Bureau of Investigation (FBI) State Crime News
SACRAMENTO—February is the month of love; unfortunately, not everyone who seems to be looking for love has good intentions. The Federal Bureau of Investigation (FBI) Sacramento Field Office is issuing an urgent warning: perpetrators are posing as perfect partners to ensnare heart and wallets. Their schemes are very sophisticated and have harvesting and personal information and savings.
The warning about these scams has never been more urgent. Confidence fraud and romance scams result in some of the most significant financial losses when compared to other Internet-facilitated crimes. In 2023 alone, 17,832 victims reported more than $650 million in losses. Sadly, this number is conservative. Many victims suffer in silence, too ashamed or afraid to come forward.
While finding love on dating sites or with remote partners with whom you’ve connected with through social networks or affinity groups online isn’t impossible, heartless perpetrators lurk within online communities and platforms, seeking hearts and finances to ensnare. If you think you won’t be targeted, think again; people of all ages and backgrounds can fall victim to a romance scam.
Romance and confidence scams start with seemingly innocent contact online and builds into a carefully orchestrated scheme. While the elements may vary to best ensnare the intended victim, thee scams often include the following elements:
The person harvests information about you from your online presence to establish a quick and seemingly significant bond.
The person showers you with attention and appears to have an unusually high number of common interests and similar background.
Images are exchanged and video chats are conducted using images and content that are synthetic or gleaned from online sources.
The FBI urges the public to beware of some common red flags:
You have yet to physically meet your beloved and have been met with excuses when trying to arrange an in-person connection.
You have been asked to provide money, gift cards, or cryptocurrency.
You have been given directions for investing money on specific online platforms.
You have been asked to receive and send money on their behalf.
You have been asked to share images that you would not want posted publicly.
If any of the red flags apply to you:
Immediately report any transfer of funds to your financial institution.
File a complaint with the FBI’s Internet Crime Complaint Center at www.ic3.gov.
Contact the FBI Sacramento Field Office at 916-746-7000 or your local law enforcement agency.
If you plan to travel to meet your long-distance love, proceed with caution, especially if those plans involve travel to a foreign country. Some victims who have agreed to meet in person with an online love interest have been reported missing or have been injured, and at least one was reported dead. Always review the State Department’s Travel Advisories at http://travel.state.gov/ before travelling.
Famine Early Warning Systems Network (Fews Net), a web-based platform for predicting famine, went offline on 30 January 2025. The system had provided up-to-date data to predict and track food insecurity in nearly 30 countries in Africa, central America and Asia for 40 years. It was funded by the US Agency for International Development (USAid). It went offline following USAid’s shutdown by the new US administration.
In Kenya, Fews Net worked with the National Drought Management Agency and the Kenya Food Security Steering Group to develop regular outlook reports at national and county levels. Timothy Njagi Njeru, an agricultural economist who researches food security and emergency responses, explains what Fews Net’s abrupt departure portends for Kenya.
What are the highlights of the network’s work in Kenya?
The famine early warning network provided data and interpretation to shape decisions on food insecurity in Kenya. The Kenyan pages on the web platform – which has gone dark – included:
an outlook for crop production based on climate data and extreme weather events
a standardised measure of food insecurity that helped governments prioritise their responses
a forecast of potential food crises using climate, economic and conflict data.
Fews Net was launched in response to devastating famines in east and west Africa in the mid-1980s. Its main objective was to gather and analyse data to help governments avert food security crises.
This evolved to support other critical areas that affected food security. For example, in the beginning, the network used weather information to generate forecasts on food crises. In time, it also collected price data and trade data, especially on staple commodities, to inform market stabilisation policies. And it tracked climate adaptation strategies.
Its work helped highlight the regions vulnerable to food insecurity, assessed the support these communities got and tracked the effects of weather variability.
In Kenya, the network worked with the Kenya Food Security Steering Group, which is made up of government, multilateral and non-profit agencies. The National Drought Management Authority, Kenya Meteorological Department and Kenya National Bureau of Statistics are in the group. So are the ministries of agriculture, health, water and education, and county governments. Development partners such as the Food and Agriculture Organization (FAO) and Unicef, and civil society organisations, such as the World Food Program and World Vision, are also members.
Their work was published in regular Food and Nutrition Security Assessments.
Fews Net also provided country and county-level briefs. These provided updates on the scale of food insecurity and assistance provided to these regions. They contained forecasts of crop and livestock production. They provided analyses of food trade, price trends, conflict incidences, and performance of assistance programmes. The forecasts helped generate recommendations for specific regions.
All this data was critical for market intelligence and developing value chains. It helped stakeholders make decisions about services, infrastructure support and demand or supply.
What difference has it made?
The Famine Early Warning Systems Network made a huge contribution to Kenya and the region as a whole. The seasonal food security forecasts enabled governments and development partners to respond to crises adequately and in a coordinated manner.
The network’s analytics on price trends and food trade proved very useful in overcoming obstacles to food trade. These included information asymmetry on demand and supply trends. The analytics also highlighted where infrastructural or security challenges might affect the flow of food from surplus to deficit areas. This equipped the government and stakeholders with the information to respond appropriately.
The analytics on household data provided information on household income, food availability and mechanisms to cope with food shocks. This informs government and others about local communities’ capacity to respond to shocks.
The tracking of local market price data informed policy responses, such as livestock offtake programmes at the height of drought or famines. Offtake programmes provide a ready market for families grappling with drought. They enable them to sell their cattle before incurring losses caused by livestock deaths during drought seasons. These programmes help communities enhance their market participation and reduce losses as they are able to sell their livestock at fair prices.
What gaps will its absence create?
The absence of the early warning network will affect Kenya’s ability to address food insecurity. It leaves a gap in financial and technical capacity to generate timely forecasts to inform decision making.
It will take time for other institutions to replace that contribution. In the short run, stakeholders can use the information that’s already been generated. In the medium term, there may be uncertainty and incoherence in interventions and investments.
Because Kenya’s weather has been so variable, the country needs seasonal forecasts at both national and county levels.
What should Kenya do to fill the gap?
Kenya can strengthen the capacity in institutions such as the drought management authority and statistics bureau.
In the long term, the country must increase financial investments that support food security. And it must build technical capacity to produce credible, reliable and timely food security forecasts.
Timothy Njagi Njeru does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
A spontaneous memorial of flowers in St Petersburg, Russia, on the day of Alexei Navalny’s death, February 16 2024.Aleksey Dushutin/Shutterstock
This is the best day of the past five months for me … This is my home … I am not afraid of anything and I urge you not to be afraid of anything either.
These were Alexei Navalny’s words after landing at Moscow’s Sheremetyevo Airport on January 17 2021. Russia’s leading opposition figure had spent the past months recovering in Germany from an attempt on his life by the Russian Federal Security Service (FSB). Minutes after making his comments, Navalny was detained at border control. And he would remain behind bars until his death on February 16 2024, in the remote “Polar Wolf” penal colony within the Arctic Circle.
“Why did he return to Russia?” That’s the question I’m asked about Navalny most frequently. Wasn’t it a mistake to return to certain imprisonment, when he could have maintained his opposition to Russia’s president, Vladimir Putin, from abroad?
But Navalny’s decision to return didn’t surprise me. I’ve researched and written about him extensively, including co-authoring Navalny: Putin’s Nemesis, Russia’s Future?, the first English-language, book-length account of his life and political activities. Defying the Kremlin by returning was a signature move, reflecting both his obstinacy and bravery. He wanted to make sure his supporters and activists in Russia did not feel abandoned, risking their lives while he lived a cushy life in exile.
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Besides, Navalny wasn’t returning to certain imprisonment. A close ally of his, Vladimir Ashurkov, told me in May 2022 that his “incarceration in Russia was not a certainty. It was a probability, a scenario – but it wasn’t like he was walking into a certain long-term prison term.”
Also, Navalny hadn’t chosen to leave Russia in the first place. He was unconscious when taken by plane from Omsk to Berlin for treatment following his poisoning with the nerve agent Novichok in August 2020. Navalny had been consistent in saying he was a Russian politician who needed to remain in Russia to be effective.
In a subsequent interview, conducted in a forest on the outskirts of the German capital as he slowly recovered, Navalny said: “In people’s minds, if you leave the country, that means you’ve surrendered.”
Video: ACF.
Outrage, detention and death
Two days after Navalny’s final return to Russia, the Anti-Corruption Foundation (ACF) – the organisation he established in 2011 – published its biggest ever investigation. The YouTube video exploring “Putin’s palace” on the Black Sea coast achieved an extraordinary 100 million views within ten days. By the start of February 2021, polling suggested it had been watched by more than a quarter of all adults in Russia.
Outrage at Navalny’s detention, combined with this Putin investigation, got people on to the streets. On January 23 2021, 160,000 people turned out across Russia in events that did not have prior approval from the authorities. More than 40% of the participants said they were taking part in a protest for the first time.
But the Russian authorities were determined to also make it their last time. Law enforcement mounted an awesome display of strength, detaining protesters and sometimes beating them. The number of participants at protests on January 31 and February 2 declined sharply as a result.
Between Navalny’s return to Russia in January 2021 and his death in February 2024, aged 47, he faced criminal case after criminal case, adding years and years to his time in prison and increasing the severity of his detention. By the time of his death, he was in the harshest type of prison in the Russian penitentiary system – a “special regime” colony – and was frequently sent to a punishment cell.
The obvious intent was to demoralise Navalny, his team and supporters – making an example of him to spread fear among anyone else who might consider mounting a challenge to the Kremlin. But Navalny fought back, as described in his posthumously published memoir, Patriot. He made legal challenges against his jailers. He went on hunger strike. And he formed a union for his fellow prisoners.
He also used his court appearances to make clear his political views, including following Russia’s full-scale invasion of Ukraine in February 2022, declaring: “I am against this war. I consider it immoral, fratricidal, and criminal.”
Navalny’s final public appearance was via video link. He was in good spirits, with his trademark optimism and humour still on display. Tongue firmly in cheek, he asked the judge for financial help:
Your Honour, I will send you my personal account number so that you can use your huge salary as a federal judge to ‘warm up’ my personal account, because I am running out of money.
Navalny died the following day. According to the prison authorities, he collapsed after a short walk and lost consciousness. Although the Russian authorities claimed he had died of natural causes, documents published in September 2024 by The Insider – a Russia-focused, Latvia-based independent investigative website – suggest Navalny may have been poisoned.
A mourner adds her tribute to Alexei Navalny’s grave in Moscow after his burial on March 1 2024. Aleksey Dushutin/Shutterstock
Whether or not Putin directly ordered his death, Russia’s president bears responsibility – for leading a system that tried to assassinate Navalny in August 2020, and for allowing his imprisonment following Navalny’s return to Russia in conditions designed to crush him.
Commenting in March 2024, Putin stated that, just days before Navalny’s death, he had agreed for his most vocal opponent to be included in a prisoner swap – on condition the opposition figure never returned to Russia. “But, unfortunately,” Putin added, “what happened, happened.”
‘No one will forget’
Putin is afraid of Alexei, even after he killed him.
Yulia Navalnaya, Navalny’s wife, wrote these words on January 10 2025 after reading a curious letter. His mother, Lyudmila Navalnaya, had written to Rosfinmonitoring – a Russian state body – with a request for her son’s name to be removed from their list of “extremists and terrorists” now he was no longer alive.
The official response was straight from Kafka. Navalny’s name could not be removed as it had been added following the initiation of a criminal case against him. Even though he was dead, Rosfinmonitoring had not been informed about a termination of the case “in accordance with the procedure established by law”, so his name would have to remain.
This appears to be yet another instance of the Russian state exercising cruelty behind the veil of bureaucratic legality – such as when the prison authorities initially refused to release Navalny’s body to his mother after his death.
“Putin is doing this to scare you,” Yulia continued. “He wants you to be afraid to even mention Alexei, and gradually to forget his name. But no one will forget.”
Alexei Navalny and his wife, Yulia Navalnaya, at a protest rally in Moscow, May 2012. Dmitry Laudin/Shutterstock
Today, Navalny’s family and team continue his work outside of Russia – and are fighting to keep his name alive back home. But the odds are against them. Polling suggests the share of Russians who say they know nothing about Navalny or his activities roughly doubled to 30% between his return in January 2021 and his death three years later.
Navalny fought against an autocratic system – and paid the price with his life. Given the very real fears Russians may have of voicing support for a man still labelled an extremist by the Putin regime, it’s not easy to assess what people there really think of him and his legacy. But we will also never know how popular Navalny would have been in the “normal” political system he fought for.
What made Navalny the force he was?
Navalny didn’t mean for the humble yellow rubber duck to become such a potent symbol of resistance.
In March 2017, the ACF published its latest investigation into elite corruption, this time focusing on then-prime minister (and former president), Dmitry Medvedev. Navalny’s team members had become masters of producing slick videos that enabled their message to reach a broad audience. A week after posting, the film had racked up over 7 million views on YouTube – an extraordinary number at that time.
The film included shocking details of Medvedev’s alleged avarice, including yachts and luxury properties. In the centre of a large pond in one of these properties was a duck house, footage of which was captured by the ACF using a drone.
Video: ACF.
Such luxuries jarred with many people’s view of Medvedev as being a bit different to Putin and his cronies. As Navalny wrote in his memoir, Medvedev had previously seemed “harmless and incongruous”. (At the time, Medvedev’s spokeswoman said it was “pointless” to comment on the ACF investigation, suggesting the report was a “propaganda attack from an opposition figure and a convict”.)
But people were angry, and the report triggered mass street protests across Russia. They carried yellow ducks and trainers, a second unintended symbol from the film given Medvedev’s penchant for them.
Another reason why so many people came out to protest on March 26 2017 was the organising work carried out by Navalny’s movement.
The previous December, Navalny had announced his intention to run in the 2018 presidential election. As part of the campaign, he and his team created a network of regional headquarters to bring together supporters and train activists across Russia. Although the authorities had rejected Navalny’s efforts to register an official political party, this regional network functioned in much the same way, gathering like-minded people in support of an electoral candidate. And this infrastructure helped get people out on the streets.
The Kremlin saw this as a clear threat. According to a December 2020 investigation by Bellingcat, CNN, Der Spiegel and The Insider, the FSB assassination squad implicated in the Novichok poisoning of Navalny had started trailing him in January 2017 – one month after he announced his run for the presidency.
At the protests against Medvedev, the authorities’ growing intolerance of Navalny was also on display – he was detained, fined and sentenced to 15 days’ imprisonment.
The Medvedev investigation was far from the beginning of Navalny’s story as a thorn in the Kremlin’s side. But this episode brings together all of the elements that made Navalny the force he was: anti-corruption activism, protest mobilisation, attempts to run as a “normal” politician in a system rigged against him, and savvy use of social media to raise his profile in all of these domains.
Courting controversy
In Patriot, Navalny writes that he always “felt sure a broad coalition was needed to fight Putin”. Yet over the years, his attempts to form that coalition led to some of the most controversial points of his political career.
In a 2007 video, Navalny referred to himself as a “certified nationalist”, advocating for the deportation of illegal immigrants, albeit without using violence and distancing himself from neo-Nazism. In the video, he says: “We have the right to be Russians in Russia, and we’ll defend that right.”
Although alienating some, Navalny was attempting to present a more acceptable face of nationalism, and he hoped to build a bridge between nationalists and liberals in taking on the Kremlin’s burgeoning authoritarianism.
But the prominence of nationalism in Navalny’s political identity varied markedly over time, probably reflecting his shifting estimations of which platform could attract the largest support within Russia. By the time of his thwarted run in the 2018 presidential election, nationalist talking points were all but absent from his rhetoric.
However, some of these former comments and positions continue to influence how people view him. For example, following Russia’s annexation of Crimea in 2014, Navalny tried to take a pragmatic stance. While acknowledging Russia’s flouting of international law, he said that Crimea was “now part of the Russian Federation” and would “never become part of Ukraine in the foreseeable future”.
Many Ukrainians take this as clear evidence that Navalny was a Russian imperialist. Though he later revised his position, saying Crimea should be returned to Ukraine, some saw this as too little, too late. But others were willing to look past the more controversial parts of his biography, recognising that Navalny represented the most effective domestic challenge to Putin.
Another key attempt to build a broad political coalition was Navalny’s Smart Voting initiative. This was a tactical voting project in which Navalny’s team encouraged voters to back the individual thought best-placed to defeat the ruling United Russia candidate, regardless of the challenger’s ideological position.
The project wasn’t met with universal approval. Some opposition figures and voters baulked at, or flatly refused to consider, the idea of voting for people whose ideological positions they found repugnant – or whom they viewed as being “fake” opposition figures, entirely in bed with the authorities. (This makes clear that Navalny was never the leader of the political opposition in Russia; he was, rather, the leading figure of a fractious constellation of individuals and groups.)
But others relished the opportunity to make rigged elections work in their favour. And there is evidence that Smart Voting did sometimes work, including in the September 2020 regional and local elections, for which Navalny had been campaigning when he was poisoned with Novichok.
In an astonishing moment captured on film during his recovery in Germany, Navalny speaks to an alleged member of the FSB squad sent to kill him. Pretending to be the aide to a senior FSB official, Navalny finds out that the nerve agent had been placed in his underpants.
How do Russians feel about Navalny now?
It’s like a member of the family has died.
This is what one Russian friend told me after hearing of Navalny’s death a year ago. Soon afterwards, the Levada Center – an independent Russian polling organisation – conducted a nationally representative survey to gauge the public’s reaction to the news.
The poll found that Navalny’s death was the second-most mentioned event by Russian people that month, after the capture of the Ukrainian city of Avdiivka by Russian troops. But when asked how they felt about his death, 69% of respondents said they had “no particular feelings” either way – while only 17% said they felt “sympathy” or “pity”.
And that broadly fits with Navalny’s approval ratings in Russia. After his poisoning in 2020, 20% of Russians said they approved of his activities – but this was down to 11% by February 2024.
Video: BBC.
Of course, these numbers must be taken for what they are: polling in an authoritarian state regarding a figure vilified and imprisoned by the regime, during a time of war and amid draconian restrictions on free speech. To what extent the drop in support for Navalny was real, rather than reflecting the increased fear people had in voicing their approval for an anti-regime figure, is hard to say with certainty.
When asked why they liked Navalny, 31% of those who approved of his activities said he spoke “the truth”, “honestly” or “directly”. For those who did not approve of his activities, 22% said he was “paid by the west”, “represented” the west’s interests, that he was a “foreign agent”, a “traitor” or a “puppet”.
The Kremlin had long tried to discredit Navalny as a western-backed traitor. After Navalny’s 2020 poisoning, Putin’s spokesman, Dmitry Peskov, said that “experts from the United States’ Central Intelligence Agency are working with him”. The Russian state claimed that, rather than a patriot exposing official malfeasance with a view to strengthening his country, Navalny was a CIA stooge intent on destroying Russia.
Peskov provided no evidence to back up this claim – and the official propaganda wasn’t believed by all. Thousands of Russians defied the authorities by coming out to pay their respects at Navalny’s funeral on March 1 2024. Many, if not all, knew this was a significant risk. Police employed video footage to track down members of the funeral crowd, including by using facial recognition technology.
The first person to be detained was a Muscovite the police claimed they heard shouting “Glory to the heroes!” – a traditional Ukrainian response to the declaration “Glory to Ukraine!”, but this time referencing Navalny. She spent a night in a police station before being fined for “displaying a banned symbol”.
Putin always avoided mentioning Navalny’s name in public while he was alive – instead referring to him as “this gentleman”, “the character you mentioned”, or the “Berlin patient”. (The only recorded instance of Putin using Navalny’s name in public when he was alive was in 2013.)
However, having been re-elected president in 2024 and with Navalny dead, Putin finally broke his long-held practice, saying: “As for Navalny, yes he passed away – this is always a sad event.” It was as if the death of his nemesis diminished the potency of his name – and the challenge that Navalny had long presented to Putin.
Nobody can become another Navalny
Someone else will rise up and take my place. I haven’t done anything unique or difficult. Anyone could do what I’ve done.
So wrote Navalny in the memoir published after his death. But that hasn’t happened: no Navalny 2.0 has yet emerged. And it’s no real surprise. The Kremlin has taken clear steps to ensure nobody can become another Navalny within Russia.
In 2021, the authorities made a clear decision to destroy Navalny’s organisations within Russia, including the ACF and his regional network. Without the organisational infrastructure and legal ability to function in Russia, no figure has been able to take his place directly.
More broadly, the fate of Navalny and his movement has had a chilling effect on the opposition landscape. So too have other steps taken by the authorities.
Russia has become markedly more repressive since the start of its war on Ukraine. The human rights NGO First Department looked into the number of cases relating to “treason”, “espionage” and “confidential cooperation with a foreign state” since Russia introduced the current version of its criminal code in 1997. Of the more than 1,000 cases, 792 – the vast majority – were initiated following Russia’s full-scale invasion of Ukraine in 2022.
Russian law enforcement has also used nebulous anti-extremism and anti-terrorism legislation to crack down on dissenting voices. Three of Navalny’s lawyers were sentenced in January 2025 for participating in an “extremist organisation”, as the ACF was designated by a Moscow court in June 2021. The Russian legislature has also passed a barrage of legislation relating to so-called “foreign agents”, to tarnish the work of those the regime regards as foreign-backed “fifth columnists”.
Mass street protests are largely a thing of the past in Russia. Restrictions were placed on public gatherings during the COVID pandemic – but these rules were applied selectively, with opposition individuals and groups being targeted. And opportunities for collective action were further reduced following the full-scale invasion of Ukraine.
Freedom of speech has also come under assault. Article 29, point five of the Russian constitution states: “Censorship shall be prohibited.” But in September 2024, Kremlin spokesperson Peskov said: “In the state of war that we are in, restrictions are justified, and censorship is justified.”
Legislation passed very soon after the 2022 invasion of Ukraine made it illegal to comment on the Russian military’s activities truthfully – and even to call the war a war.
YouTube – the platform so central to Navalny’s ability to spread his message – has been targeted. Without banning it outright – perhaps afraid of the public backlash this might cause – the Russian state media regulator, Roskomnadzor, has slowed down internet traffic to the site within Russia. The result has been a move of users to other websites supporting video content, including VKontakte – a Russian social media platform.
In short, conditions in Russia are very different now compared to when Navalny first emerged. The relative freedom of the 2000s and 2010s gave him the space to challenge the corruption and authoritarianism of an evolving system headed by Putin. But this space has shrunk over time, to the point where no room remains for a figure like him within Russia.
In 2019, Navalny told Ivan Zhdanov, who is now director of the ACF: “We changed the regime, but not in the way we wanted.” So, did Navalny and his team push the Kremlin to become more authoritarian – making it not only intolerant of him but also any possible successor?
There may be some truth in this. And yet, the drastic steps taken by the regime following the start of the war on Ukraine suggest there were other, even more significant factors that have laid bare the violent nature of Putin’s personal autocracy – and the president’s disdain for dissenters.
Plenty for Russians to be angry about
How can we win the war when dedushka [grandpa] is a moron?
In June 2023, Evgeny Prigozhin – a long-time associate of Putin and head of the private military Wagner Group – staged an armed rebellion, marching his forces on the Russian capital. This was not a full-blown political movement against Putin. But the target of Prigozhin’s invective against Russia’s military leadership had become increasingly blurry, testing the taboo of direct criticism of the president – who is sometimes referred to, disparagingly, as “grandpa” in Russia.
And Prigozhin paid the price. In August 2023, he was killed when the private jet he was flying in crashed after an explosion on board. Afterwards, Putin referred to Prigozhin as a “talented person” who “made serious mistakes in life”.
In the west, opposition to the Kremlin is often associated with more liberal figures like Navalny. Yet the most consequential domestic challenge to Putin’s rule came from a very different part of the ideological spectrum – a figure in Prigozhin leading a segment of Russian society that wanted the Kremlin to prosecute its war on Ukraine even more aggressively.
Video: BBC.
Today, there is plenty for Russians to be angry about, and Putin knows it. He recently acknowledged an “overheating of the economy”. This has resulted in high inflation, in part due to all the resources being channelled into supporting the war effort. Such cost-of-living concerns weigh more heavily than the war on the minds of most Russians.
A favourite talking point of the Kremlin is how Putin imposed order in Russia following the “wild 1990s” – characterised by economic turbulence and symbolised by then-president Boris Yeltsin’s public drunkenness. Many Russians attribute the stability and rise in living standards they experienced in the 2000s with Putin’s rule – and thank him for it by providing support for his continued leadership.
The current economic problems are an acute worry for the Kremlin because they jeopardise this basic social contract struck with the Russian people. In fact, one way the Kremlin tried to discredit Navalny was by comparing him with Yeltsin, suggesting he posed the same threats as a failed reformer. In his memoir, Navalny concedes that “few things get under my skin more”.
Although originally a fan of Yeltsin, Navalny became an ardent critic. His argument was that Yeltsin and those around him squandered the opportunity to make Russia a “normal” European country.
Navalny also wanted Russians to feel entitled to more. Rather than be content with their relative living standards compared with the early post-Soviet period, he encouraged them to imagine the level of wealth citizens could enjoy based on Russia’s extraordinary resources – but with the rule of law, less corruption, and real democratic processes.
‘Think of other possible Russias’
When looking at forms of criticism and dissent in Russia today, we need to distinguish between anti-war, anti-government, and anti-Putin activities.
Despite the risk of harsh consequences, there are daily forms of anti-war resistance, including arson attacks on military enlistment offices. Some are orchestrated from Ukraine, with Russians blackmailed into acting. But other cases are likely to be forms of domestic resistance.
Criticism of the government is still sometimes possible, largely because Russia has a “dual executive” system, consisting of a prime minister and presidency. This allows the much more powerful presidency to deflect blame to the government when things go wrong.
There are nominal opposition parties in Russia – sometimes referred to as the “systemic opposition”, because they are loyal to the Kremlin and therefore tolerated by the system. Within the State Duma, these parties often criticise particular government ministries for apparent failings. But they rarely, if ever, now dare criticise Putin directly.
Nothing anywhere close to the challenge presented by Navalny appears on the horizon in Russia – at either end of the political spectrum. But the presence of clear popular grievances, and the existence of organisations (albeit not Navalny’s) that could channel this anger should the Kremlin’s grip loosen, mean we cannot write off all opposition in Russia.
Navalny’s wife, Yulia, has vowed to continue her husband’s work. And his team in exile maintain focus on elite corruption in Russia, now from their base in Vilnius, Lithuania. The ACF’s most recent investigation is on Igor Sechin, CEO of the oil company Rosneft.
But some have argued this work is no longer as relevant as it was. Sam Greene, professor in Russian politics at King’s College London, captured this doubt in a recent Substack post:
[T]here is a palpable sense that these sorts of investigations may not be relevant to as many people as they used to be, given everything that has transpired since the mid-2010s, when they were the bread and butter of the Anti-Corruption Foundation. Some … have gone as far as to suggest that they have become effectively meaningless … and thus that Team Navalny should move on.
Navalny’s team are understandably irritated by suggestions they’re no longer as effective as they once were. But it’s important to note that this criticism has often been sharpest within Russia’s liberal opposition. The ACF has been rocked, for example, by recent accusations from Maxim Katz, one such liberal opposition figure, that the organisation helped “launder the reputations” of two former bank owners. In their response, posted on YouTube, the ACF referred to Katz’s accusations as “lies” – but this continued squabbling has left some Russians feeling “disillusioned and unrepresented”.
So, what will Navalny’s long-term legacy be? Patriot includes a revealing section on Mikhail Gorbachev – the last leader of the Soviet Union, whom Navalny describes as “unpopular in Russia, and also in our family”. He continues:
Usually, when you tell foreigners this, they are very surprised, because Gorbachev is thought of as the person who gave Eastern Europe back its freedom and thanks to whom Germany was reunited. Of course, that is true … but within Russia and the USSR he was not particularly liked.
At the moment, there is a similar split in perceptions of Navalny. Internationally, he was nominated for the Nobel Peace Prize, awarded the Sakharov Prize by the European Parliament, and a documentary about him won an Oscar.
But there are also those outside of Russia who remain critical: “Navalny’s life has brought no benefit to the Ukrainian victory; instead, he has caused considerable harm,” wrote one Ukrainian academic. “He fuelled the illusion in the west that democracy in Russia is possible.”
Trailer for the Oscar-winning documentary Navalny.
Inside Russia, according to Levada Center polling shortly after his death, 53% of Russians thought Navalny played “no special role” in the history of the country, while 19% said he played a “rather negative” role. Revealingly, when commenting on Navalny’s death, one man in Moscow told RFE/RL’s Russian Service: “I think that everyone who is against Russia is guilty, even if they are right.”
But, for a small minority in Russia, Navalny will go down as a messiah-like figure who miraculously cheated death in 2020, then made the ultimate sacrifice in his battle of good and evil with the Kremlin. This view may have been reinforced by Navalny’s increasing openness about his Christian faith.
Ultimately, Navalny’s long-term status in Russia will depend on the nature of the political system after Putin has gone. Since it seems likely that authoritarianism will outlast Putin, a more favourable official story about Navalny is unlikely to emerge any time soon. However, how any post-Putin regime tries to make sense of Navalny’s legacy will tell us a lot about that regime.
While he was alive, Navalny stood for the freer Russia in which he had emerged as a leading opposition figure – and also what he called the “Beautiful Russia of the Future”. Perhaps, after his death, his lasting legacy in Russia remains the ability for some to think – if only in private – of other possible Russias.
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Ben Noble has previously received funding from the British Academy and the Leverhulme Trust. He is an Associate Fellow of Chatham House.
Source: State University of Management – Official website of the State –
From February 1 to 28, 2025, the Invitational Stage of the V International Financial Security Olympiad is being held in Russian and English on the international social and educational platform “Commonwealth”.
Let us recall that last season two students from the State University of Management became Olympiad prize winners.
Pupils of grades 8-11 and students are invited to participate. Upon completion of the stage, participants who have completed the tasks will receive a certificate.
The invitational stage is a great opportunity not only to test your knowledge of financial security, but also to prepare for the new cycle of the Olympiad and get acquainted with the format of the tasks.
To participate, you must register on the Olympiad platform. Tasks will be available from February 1 to February 28.
The International Financial Security Olympiad has been held since 2021 under the patronage of the President of Russia and the Government of the Russian Federation. In 2024, representatives of 36 countries reached the final of the Olympiad.
The International Financial Security Olympiad is aimed at popularizing financial security as a norm of life, as well as at forming a new type of thinking among young people: from the financial security of an individual to the financial security of the state. Winners and prize winners are granted additional rights when entering higher education programs.
The Olympiad organizers are: the Ministry of Science and Higher Education of the Russian Federation, the Federal Service for Financial Monitoring, the Ministry of Education of the Russian Federation, the International Network Institute in the Sphere of AML/CFT and the International Educational and Methodological Center for Financial Monitoring.
Subscribe to the TG channel “Our GUU” Date of publication: 02/14/2025
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
WASHINGTON—This week, Idaho Congressman Mike Simpson wrote an op-ed in the Washington Reporter regarding his upcoming priorities as Chairman of the House Interior and Environment Appropriations Subcommittee. “I spent the last four years fighting against the Biden administration’s job-killing regulatory overreach and disastrous policies. Now, instead of simply pushing back, the Interior subcommittee is focused on strengthening and promoting domestic energy production, investing in Indian Country, reining in the EPA, expanding access to critical minerals, and ensuring that land management agencies have the tools to manage our lands effectively and efficiently—just to name a few.” The full op-ed is available here and below. Laying Out My Priorities as Chairman of the House Interior and Environment Appropriations Subcommittee By Rep. Mike Simpson After the decisive mandate from the American people last November, it should come as no surprise that Republicans are hitting the ground running. As the 119th Congress gets underway, we are laying out our priorities, building on past successes, and advancing the policies that matter most to our constituents. Returning as Chairman of the House Interior, Environment, and Related Agencies Appropriations Subcommittee is a true honor. While I take great pride in the work our subcommittee accomplished last Congress, we’ve got our work cut out for us. The House Appropriations Committee’s Fiscal Year 2025 process prioritized cuts to wasteful spending and refocused the government on its core responsibilities. I spent the last four years fighting against the Biden administration’s job-killing regulatory overreach and disastrous policies. Now, instead of simply pushing back, the Interior subcommittee is focused on strengthening and promoting domestic energy production, investing in Indian Country, reining in the EPA, expanding access to critical minerals, and ensuring that land management agencies have the tools to manage our lands effectively and efficiently—just to name a few. The Interior subcommittee oversees funding for public land agencies important to my home state of Idaho and other Western states, such as the Forest Service, the Bureau of Land Management (BLM), the Fish and Wildlife Service, and the National Parks Service, among others. As Chairman, I am in a position to directly influence federal policies that directly impact Idaho and the West. I look forward to bringing Idaho’s perspective to issues like the Endangered Species Act, continued access to our public lands, and forest management. Nearly two-thirds of Idaho is federal land, which means our public land management policies directly impact our state’s economy and the lives of Idahoans who live, work, and recreate on or near federal land. This is why I will continue to use my position to ensure the federal land management agencies are good neighbors. I also plan to work directly with the Trump administration to protect critical programs vital to states and local communities, such as fully funding Payments in Lieu of Taxes (PILT)—a lifeline for our rural communities. Additionally, while the Fiscal Year 2025 House Interior Bill permanently increased pay for our brave federal wildland firefighters, we still need to get this across the finish line. The provisions included in the bill will improve firefighter recruitment and retention and provide financial certainty to the men and women protecting our communities from catastrophic wildfire. I look forward to working with the administration to make this a reality. Another critical area where we will make significant strides is energy policy. Our mandate from the American people is clear: We must unleash American-made energy and return to energy independence. Under President Trump, the United States achieved energy independence for the first time in 70 years—an accomplishment we are determined to restore. By securing our energy supply chain and ending reliance on foreign adversaries, we will not only strengthen our national security but also help lower costs for American families. President Trump’s pick for Secretary of the Interior and America’s ‘energy czar’ Doug Burgum, has made it clear that he intends to achieve domestic energy dominance, making life affordable for American families nationwide, and driving down inflation. I look forward to working with Secretary Burgum as we slash burdensome regulations, strengthen national security, and promote American values through President Trump’s agenda. American energy leadership is back. As Congress and the White House align to revive the conservative values that the American people voted for, I remain committed to working with my colleagues and the Trump administration to rein in unnecessary spending and restore fiscal responsibility to get our economy back on track. We have a lot of work to do, but this is the time to hit the ground running and deliver results for all Americans. Together, we can restore American strength, safeguard our natural resources, and ensure that our communities remain resilient for generations to come.
President Donald Trump’s signature promise during his campaign was to carry out the “largest deportation” operation in U.S. history, targeting all migrants “who violated the law coming into this country.”
Since anyone living in the U.S. without legal permission has broken civil immigration law, Trump would have to deport all of the 11 million to12 million immigrants living without legal authorization in the U.S., not just people who have committed serious crimes. Most immigrants living in the country illegally have been here longer than 10 years, so many longer-term residents would be deported.
Trump has claimed that his election victory gives him a “powerful mandate” for such actions. But what do the American people really think about mass deportation?
News outlets like CBS and Scripps News have been reporting since mid-2024 that a majority of Americans support Trump’s plans to deport most or all undocumented immigrants.
I am a psychologist with expertise in survey research and the influence of political ideology on people’s beliefs about news events. And I believe the key to making sense of these conflicting polls lies in understanding the psychological principles that underlie opinion polling.
When it comes to deportation, the main policy alternative offered by presidents as far back as George W. Bush has been allowing immigrants to become legal permanent residents if certain conditions are met, like passing a background check.
Because of this, Pew Research, a prominent pollster, suggests that the best way to determine how people feel about issues like mass deportation is to give them a question that forces them to choose between deportation and something else – in this case, legalization.
For example, one July 2024 poll using a “forced-choice” question asked people whether they’d rather see “a way for undocumented immigrants who meet certain requirements … to stay here legally” or “a national effort to deport and remove all illegal immigrants” from the U.S.
Another type of question used by pollsters focuses people’s attention on only one choice by asking them how much they support a policy like deportation, but without mentioning alternatives. Polls that follow this approach ask people’s opinion of deportation in one question, and their opinion of legalization in another.
In total, I found 14 polls conducted during the past eight years that measured Americans’ opinions on both mass deportation and legalizing status. I dropped twofrom my analysis because they had questions worded in biased language.
The findings from the remaining 12 polls are representative of the diverse demographics of the U.S.
Graph 1 present the results from the eight polls that used a single forced-choice question. I believe these polls give the best picture of how Americans as a group feel about the two immigration policies.
These polls suggest that over the past eight years, Americans’ overall support for mass deportation has increased from around 22% to around 44%. Meanwhile, support for legalizing immigrants’ status has decreased from about 77% to 55%.
However, all four polls conducted in 2024 find support for legalizing status to be above 54% and support for deportation below 45%.
Graph 2 shows the results of the four polls that used separate questions to assess opinions about deportation and legalization.
This chart clearly demonstrates the problem with asking people to rate their support for deportation and legalization in separate questions. Two polls, both taken in the past year – one by Gallup, the other by Times/Siena – found that a majority of respondents supported deportation and that the same group of respondents supported legalization in equal or even greater numbers.
Consider the October 2024 poll where 57% of respondents supported deportation and 57% supported legalization. These percentages add up to more than 100% because many people in the group said they supported both policies. Since mass deportation and general legalization are polar opposites, people who support both policies should not be considered to strongly support either policy.
For this reason, the separate questions technique does not yield good absolute information about the percentage of people who support either deportation or legalization. However, it does give useful relative information like which policy a group supports more and how opinions change over time.
Keeping this in mind, the results of the 12 polls I analyzed indicate that people favored legalizing immigrants’ status over deportation. Eleven polls, including five taken since 2024, showed this pattern. Overall public support for deportation has actually increased since 2016, while support for legalization has decreased.
However, these changes in opinion over time do not hold true for all Americans.
Americans are polarized about immigration
The poll results I’ve discussed so far are averages calculated based on the responses of everyone who responded to the poll. But group averages don’t tell the whole story on any issue – especially when opinions differ widely within a group, as they do with immigration. So let’s look at the results for Republicans and Democrats separately.
Graph 3 breaks down the results by party for the eight polls that used the best practice: forced choice question.
During Trump’s first term, from 2017 to 2020, just over half of Republicans supported legalization; just under half supported deportation. Only within the past year has Republican opinion shifted, with about 70% now supporting deportation.
In contrast, Democrats’ opinions have remained steady for eight years, with about 90% supporting legalization and 10% favoring deportation.
In other words, the apparent shift toward greater support for deportation shown in Graphs 1 and 2 occurred only among Republicans – not for Americans as a whole.
A mandate to legalize
Despite the recent uptick in Republican support for mass deportation, a clear majority of people in the U.S. would rather give undocumented immigrants a path to legal status than have them deported. This has remained true for eight years.
Polls that seem to contradict this conclusion by showing majority support for mass deportation have used the less reliable separate-questions technique. These results are questionable because these poll respondents voiced equal or stronger support for legalizing immigrants’ status.
If Trump has a “powerful mandate” on immigration, my research shows, it’s for getting legal authorization for immigrants who’ve lived in the U.S. a long time without it – not deporting them.
Leo Gugerty is affiliated with the Democratic Party of Pickens County, SC, as a volunteer.
Source: United Kingdom – Executive Government & Departments
Families, individuals, and charities will receive funds left to them in wills twice as quickly as they did last year, with probate applications now being granted in less than half the time.
Outstanding caseload hits lowest level since early 2023
Overall wait times cut to just over four weeks, as around eight out of ten of applications go digital
Additional staff trained as part of Government’s Plan for Change to restore public services
The data published yesterday shows that HMCTS has slashed average wait times in December 2024 to just over four weeks. This compares to twelve weeks at the end of 2023 and over eight weeks at the end of June 2024. The improvement is a result of decisive Government action to reduce the backlog of cases which built up because of the Covid-19 pandemic.
Around 80 per cent of grant applications are now completed online, with digital applications taking on average just over two weeks to complete – improving support for those who need it and easing the burden on people who are navigating what is often a challenging time. For those who complete the application online and submit their documents without any issues probate is granted in less than a week on average.
Minister for Courts and Legal Services, Sarah Sackman KC MP, said:
We know that handling probate can be tough for families at a difficult period in their lives. That is why so we’ve worked hard to reduce delays and make the process easier.
By cutting wait times and going digital, we’re ensuring people receive the support they need quickly at what can be a challenging time.
We’re getting public services back on their feet again as part of this Government’s Plan for Change.
The change comes after action was taken to recruit extra staff who have been trained to handle applications quickly and ensure fair and efficient processing, preventing delays.
In 2024, the average number of monthly grants issued was 27,400, marking a 20 per cent increase compared to the previous year. As a result, the number of outstanding cases is at its lowest point since early 2023 when data was first published.
The probate system has achieved a remarkable turnaround, reducing its backlog by over 50,000 cases since August 2023 and ensuring faster estate settlements for families.
Charities also benefit from a more efficient probate system because they now have quicker access to funds which have been entrusted to them – easing financial pressure on the third sector.
Even paper applications, which historically take longer to process than the digital system, have seen significant improvements in timeliness with waiting times reducing from just over 22 weeks to under 15 weeks.
James Stebbings, Chair of the Institute of Legacy Management, said:
We are delighted to see that HMCTS have reduced probate application processing times to where they were 5 years ago.
Each year the public leave charities £4bn of gifts in their wills and the relief in the charity sector that this income is flowing again is huge.
On behalf of the charity sector and all who benefit from it we would like to say a huge thank you.
Alex McDowell, Vice Chair of Remember A Charity and Director of Fundraising at the Duke of Edinburgh Award, said:
With more and more people across the UK choosing to support good causes through their Wills each year, an efficient and effective probate service is vital for sustaining charitable services and charities’ financial planning.
It ensures charitable gifts in wills can be put to good use swiftly, in line with supporters’ wishes.
We are hugely grateful to HMCTS for the improvements they have made and their ongoing engagement with the charity sector.
Source: People’s Republic of China – State Council News
HARBIN, Feb. 14 — Chinese Premier Li Qiang on Friday met with Mongolian Prime Minister Luvsannamsrai Oyun-Erdene in Harbin, capital city of northeast China’s Heilongjiang Province.
Oyun-Erdene is here for the closing ceremony of the 9th Asian Winter Games.
China and Mongolia are friendly neighbors connected by mountains and rivers, said Li, noting that close cooperation and joint development are in the common interests of both sides.
China is willing to work with Mongolia to further implement the important consensus reached by the two heads of state, firmly grasp the right direction for the development of bilateral ties, consolidate political mutual trust, carry forward the traditional friendship, deepen mutually beneficial cooperation and bring more benefits to the two peoples, Li said.
Li added that China is ready to strengthen the synergy of development strategies and policy coordination with Mongolia, maintain the positive momentum of bilateral cooperation, and boost cooperation in traditional fields such as mineral, energy, connectivity and infrastructure, as well as expand cooperation in emerging areas such as artificial intelligence and green development.
Li called on both sides to deepen cooperation in fields such as culture, education and tourism, support youth exchanges, and consolidate public support for friendship between the two countries.
China is ready to work with Mongolia and other Asian countries to uphold the common values of peace, unity and cooperation, closely coordinate and cooperate with each other, practice genuine multilateralism, jointly safeguard regional peace, stability and development, and better safeguard common interests, the premier noted.
Oyun-Erdene extended his warm congratulations to China for successfully hosting the 9th Asian Winter Games, emphasizing that the event would further promote Asian values and amplify Asian voices.
Noting that Mongolia and China are eternal neighbors, he said developing long-term, stable and friendly relations with China is Mongolia’s primary foreign policy focus.
Oyun-Erdene said Mongolia firmly adheres to the one-China policy and looks forward to making joint efforts with China to strengthen high-level exchanges and strengthen the connection between Mongolia’s development strategy and the Belt and Road Initiative.
Mongolia is ready to deepen practical cooperation with China in fields such as economy and trade, connectivity, energy, resources and infrastructure, and push comprehensive strategic partnership to a higher level, Oyun-Erdene added.
TORONTO, Feb. 14, 2025 (GLOBE NEWSWIRE) — Blockmate Ventures Inc (TSX.V: MATE) (OTCQB: MATEF) (FSE: 8MH1) (“Blockmate” or the “Company”) is pleased to announce that its majority-owned subsidiary, Hivello Holdings Ltd (“Hivello”) has secured a strategic investment from Tony G.
Tony G led a strategic investment into Blockmate on December 17, 2024. And as per Hivello’s release below, Tony G has followed on with a direct investment into Hivello directly.
Below is the press release from Hivello:
Hivello Secures Strategic Investment from Antanas “Tony G” Guoga to Scale Decentralized Compute
London & Amsterdam, February 13, 2025 –Hivello, a DePIN aggregator that enables users to earn by monetising idle computer resources across multiple decentralised networks, has announced a strategic investment from Antanas Guoga (Tony G), a well-known blockchain investor, entrepreneur, and advocate for decentralized infrastructure.
Antanas Guoga, widely known as Tony G, is a seasoned investor, entrepreneur, and advocate for blockchain innovation. As the chairman and major shareholder of TSXv-listed Sol Strategies Inc., a Canadian-based investment firm specializing in blockchain, AI, and decentralized technologies, Tony G has been instrumental in backing high-growth Web3 startups.
His strategic investments have helped scale multiple blockchain projects, with Sol Strategies recently surpassing a $500 million market capitalization. Beyond his role in the private sector, Tony G has a history of championing digital innovation in public policy. As a former Member of the European Parliament (MEP), he was a strong advocate for technological advancement, pushing for clearer blockchain regulations and greater adoption of decentralized solutions. His global network and deep understanding of the intersection between policy, technology, and finance make him a valuable partner for companies shaping the future of Web3.
Recognizing Hivello’s role in the future of DePIN, Tony G’s investment underscores his belief in DePIN as a major growth sector in Web3. His support will help accelerate Hivello’s expansion, enabling more users to seamlessly contribute to decentralized infrastructure while earning rewards. With his backing, Hivello is positioned to become a key player in the next generation of blockchain-powered compute networks.
“Hivello is tackling one of the biggest challenges in DePIN—bridging complex infrastructure with everyday users,” said Tony G. “Their platform makes it incredibly easy for anyone to participate in and benefit from the decentralized economy. I see huge potential in their approach and am excited to support their journey.”
“Tony G’s investment is a strong validation of Hivello’s vision to simplify and scale decentralized physical infrastructure networks,” said Domenic Carosa, Co-Founder of Hivello. “His deep expertise in blockchain and infrastructure scaling, combined with his ability to back high-growth projects, will help accelerate our mission to make DePIN accessible to millions of users worldwide.”
(ENDS)
About Hivello Hivello is a DePIN aggregator that enables users to earn by monetising idle computer resources across multiple decentralised networks. The Swiss-based HVLO Association will issue the $HVLO token under license from Hivello Holdings Ltd.
For more information about Hivello and to stay updated on its developments, visit www.hivello.com
About Blockmate Ventures Inc. Blockmate Ventures is a venture creator focussing on building fast-growing technology businesses relating to cutting-edge sectors such as blockchain, AI and renewable energy. Working with prospective founders, projects in incubation can benefit from the Blockmate ecosystem that offers tech, services, integrations and advice to accelerate the incubation of projects towards monetization. Recent projects include Hivello (download the free passive income app at www.hivello.com) and Sunified, digitising solar energy.
The leadership team at Blockmate Ventures have successfully founded successful tech companies from the Dotcom era through to the social media era. Learn more about being a Blockmate at: www.blockmate.com.
Blockmate welcomes investors to join the Company’s mailing list for the latest updates and industry research by subscribing at https://www.blockmate.com/subscribe.
ON BEHALF OF THE BOARD OF DIRECTORS
Justin Rosenberg, CEO Blockmate Ventures Inc justin@blockmate.com (+1-580-262-6130)
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release
Forward-Looking Information This news release contains “forward-looking statements” or “forward-looking information” (collectively, “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on the assumptions, expectations, estimates and projections as of the date of this news release. Forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied by forward-looking statements contained herein. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Raindrop disclaims any obligation to update any forward-looking statements, whether because of new information, future events or otherwise, except as may be required by applicable securities laws. Readers should not place undue reliance on forward-looking statements.
MENLO PARK, Calif., Feb. 14, 2025 (GLOBE NEWSWIRE) — Robinhood Markets, Inc. (“Robinhood”) (NASDAQ: HOOD) today reported select monthly operating data for January 2025:
Funded Customers at the end of January were 25.5 million (up approximately 310 thousand from December 2024, up approximately 2 million year-over-year).
Assets Under Custody (AUC) at the end of January were $204 billion (up 6% from December 2024, up 99% year-over-year). Net Deposits were $5.6 billion in January, translating to a 35% annualized growth rate relative to December 2024 AUC. Over the last twelve months, Net Deposits were $52.3 billion, translating to an annual growth rate of 51% relative to January 2024 AUC.
Equity Notional Trading Volumes were $144.7 billion (down 3% from December 2024, up 144% year-over-year). Options Contracts Traded were 166.6 million (up 2% from December 2024, up 57% year-over-year). Crypto Notional Trading Volumes were $20.4 billion (down 32% from December 2024, up over 200% year-over-year).
Margin balances at the end of January were $8.3 billion (up 5% from the end of December 2024, up 131% year-over-year).
Total Cash Sweep balances at the end of January were $26.3 billion (up 1% from the end of December 2024, up 57% year-over-year).
Total Securities Lending Revenue in January was $25 million (down 11% from December 2024, up 108% year-over-year).
January 2025
December 2024
M/M Change
January 2024
Y/Y Change
(M – in millions, B – in billions)
Funded Customer Growth (M)
Funded Customers
25.5
25.2
+1%
23.5
+9%
Assets Under Custody (AUC) ($B)
Total AUC
$203.7
$192.9
+6%
$102.4
+99%
Net Deposits
$5.6
$5.3
NM
$3.8
NM
Trading
Trading Days (Equities and Options)
20
21
(5%)
21
(5%)
Total Trading Volumes
Equity ($B)
$144.7
$149.8
(3%)
$59.3
+144%
Options Contracts (M)
166.6
163.7
+2%
106.2
+57%
Crypto ($B)
$20.4
$30.2
(32%)
$5.9
+246%
Daily Average Revenue Trades (DARTs) (M)
Equity
2.6
2.8
(7%)
1.7
+53%
Options
1.1
1.0
+10%
0.7
+57%
Crypto
0.9
1.0
(10%)
0.3
+200%
Customer Margin and Cash Sweep ($B)
Margin Book
$8.3
$7.9
+5%
$3.6
+131%
Total Cash Sweep
$26.3
$26.1
+1%
$16.8
+57%
Gold Cash Sweep
$25.6
$25.4
+1%
$16.1
+59%
Non-Gold Cash Sweep
$0.7
$0.7
–
$0.7
–
Total Securities Lending Revenue ($M)
$25
$28
(11%)
$12
+108%
For definitions and additional information regarding these metrics, please refer to Robinhood’s full monthly metrics release, which is available on investors.robinhood.com.
The information in this release is unaudited and the information for the months in the most recent fiscal quarter is preliminary, based on Robinhood’s estimates, and subject to completion of financial closing procedures. Final results for the most recent fiscal quarter, as reported in Robinhood’s quarterly and annual filings with the U.S. Securities and Exchange Commission (“SEC”), might vary from the information in this release.
About Robinhood
Robinhood Markets, Inc. (NASDAQ: HOOD) transformed financial services by introducing commission-free stock trading and democratizing access to the markets for millions of investors. Today, Robinhood lets you trade stocks, options, futures (which includes options on futures, swaps, and event contracts), and crypto, invest for retirement, and earn with Robinhood Gold. Headquartered in Menlo Park, California, Robinhood puts customers in the driver’s seat, delivering unprecedented value and products intentionally designed for a new generation of investors. Additional information about Robinhood can be found at www.robinhood.com.
Robinhood uses the “Overview” tab of its Investor Relations website (accessible at investors.robinhood.com/overview) and its Newsroom (accessible at newsroom.aboutrobinhood.com), as means of disclosing information to the public in a broad, non-exclusionary manner for purposes of the SEC Regulation Fair Disclosure (Reg. FD). Investors should routinely monitor those web pages, in addition to Robinhood’s press releases, SEC filings, and public conference calls and webcasts, as information posted on them could be deemed to be material information.
“Robinhood” and the Robinhood feather logo are registered trademarks of Robinhood Markets, Inc. All other names are trademarks and/or registered trademarks of their respective owners.
Austerity is an unusual economic concept. While it is one of the economic terms that attracts the most interest from the public, it remains controversial in policy debates. Advocates argue that reducing government deficits through spending cuts and tax increases restores confidence and stabilises economies. Critics, however, warn that these policies just deepen downturns.
My recent research, using data from 16 countries over several decades, provides new evidence supporting the second view. That is, austerity has significant and persistent negative effects on employment and the size of an economy (measured by GDP), with the damage lasting more than 15 years.
A common defence of austerity is that while it may slow growth in the short term, it ultimately strengthens economies by reducing debt and making room for private-sector expansion. But my findings challenge this assumption.
I analysed episodes of austerity, defined as large fiscal contractions (reduced state spending or large tax increases) across a variety of advanced economies. What I found was the negative impact on GDP remains substantial even after a decade and a half. On average, GDP is more than 5.5% lower 15 years after a large austerity shock than would have been expected if there had been no austerity, based on statistical estimates.
Beyond GDP, austerity has a lasting impact on labour markets (the number of jobs on offer and people available to do them). My research shows that large fiscal contractions lead to a significant drop in the total number of hours worked, which is a key indicator of labour market health.
This is a crucial finding, as policymakers often assume that labour markets will adjust quickly after an economic shock. Instead, results suggest employment levels (which is best measured by the total number of hours worked by everyone in the labour force) remain depressed for more than a decade after major austerity measures.
One reason for this is the connection between investment and employment. When governments cut spending, firms delay investments. This, in turn, lowers productivity growth and reduces job creation.
If businesses anticipate that the economy will remain weak for a long time, they adjust their hiring and investment strategies. This can reinforce a cycle of stagnation. My results suggest that, on average, an austerity shock generates a reduction of 4% in the total worked hours and 6% in the capital stock (the value of physical assets like buildings and machines used to produce goods and services) after 15 years.
The effects of an austerity shock on countries’ GDP:
UK: A case study
Perhaps one of the most striking real-world examples of the long-term effects of austerity is the UK. Following the 2008 global financial crisis, the UK government implemented sweeping austerity measures starting in 2010. These policies were framed as necessary to reduce the budget deficit and restore investor confidence. Spending cuts affected key areas, including welfare, healthcare, education and local government services like social housing, roads and leisure facilities.
The 2010 coalition government brought in more than £80 billion of cuts to public spending.
But here’s a conundrum. The UK’s fiscal deficit (the difference between what it spent and what it raised in taxes) after the implementation of these policies was greater than before the austerity cuts. The deficit in 2023/2024 was 5.7% of GDP, while in 2007/2008, it was 2.9%.
What is evident is that these measures are associated with stagnant wages, weakened public services and sluggish GDP growth. Productivity growth has remained weak, and long-term economic damage is evident in underfunded infrastructure and an increasingly fragile NHS.
More than a decade later, real earnings have barely recovered to pre-crisis levels. The past 15 years have been the worst for income growth in generations, with working-age incomes growing by only 6% in real terms from 2007 to 2019, compared to higher growth rates in countries including the US, Germany and Ireland.
My findings contribute to a growing body of research challenging the longstanding view that shocks like austerity have only short-run effects. Traditionally, models assume that economies return to their long-run growth paths after temporary disruptions. But recent evidence, including my research, suggests that demand shocks can have persistent effects on supply by reducing investment and participation in the labour force.
In the wake of the COVID pandemic, many governments responded with generous financial support, temporarily reversing the austerity-driven policies of the previous decade. The strong recovery in some economies suggests that government spending can play a crucial role in sustaining long-run growth. On the other hand, a return to austerity measures could once again lead to prolonged stagnation.
What should policymakers take away from this? First, the assumption that austerity is a path to long-term prosperity needs to be re-evaluated. While reducing excessive public debt might be important, the economic costs of large and rapid cuts to spending can far outweigh the benefits.
Second, policymakers should recognise that timing matters. Gradual adjustments to spending, when really necessary, should be accompanied by measures to support investment and employment in order to reduce the likelihood of causing long-term harm.
Finally, economic policy should prioritise long-term growth over short-term deficit reduction. Governments facing tough spending choices should explore alternative approaches – things like progressive taxation and targeted public investment. And when cuts are needed, they should avoid implementing them during periods of economic recession.
Austerity is often framed as a necessary sacrifice for future prosperity. As governments consider fiscal strategies in an era of rising debt and economic uncertainty, they should take heed of austerity’s long-run costs. The evidence suggests that a more balanced approach – one that prioritises investment and economic stability – may be the wiser path forward.
Guilherme Klein Martins does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
by Gianni ValenteDamascus (Agenzia Fides) – Her name is Hind Aboud Kabawat, she teaches at American universities and is the only Christian in the seven-member committee (five men and two women) tasked with preparing the announced “National Conference of Syria”, which will begin the process of drafting a new constitution and defining the new institutional structure of the Middle Eastern country.The seven members of the committee were chosen by the self-proclaimed “interim” president Ahmad al-Sharaa. Under the name Abu Muhammad Jolani, al-Sharaa led for years “Hayat Tahrir al Sham”, an Islamist group that played a leading role in the group of armed militias that joined forces to fight the Assad regime, which collapsed in December last year.By including Hind Kabawat in the committee that is supposed to help pave the political path to a constitution and elections, the current rulers in Syria want to send a signal that concretely confirms their declared open and inclusive attitude towards the local Christian communities. And a look at the professional profile of the Syrian-Canadian professor reveals details about the criteria of the geopolitical strategies of the new Syrian leadership. Hind Kabawat, a Catholic, has two children – a boy and a girl – and comes from an interdenominational Christian family: a Greek Catholic father, a Greek Orthodox mother. Her CV is full of outstanding references, which also attest to her constant commitment to initiatives and institutions supporting interreligious dialogue and strategies for mediation, pacification and the promotion of women in Syria, which has been torn apart by conflict and atrocities in recent years.Hind Kabawat studied economics at the University of Damascus and obtained a second degree in law from the Arab University of Beirut. She continued her academic training with a master’s degree in international relations from the Fletcher School of Law and Diplomacy at Tufts University (near Boston, Massachusetts) and certificates in conflict resolution and negotiation strategies from the universities of Toronto and Harvard.The Syrian-born professor heads the Interfaith Peacebuilding program at the Center for World Religions, Diplomacy and Conflict Resolution (CRDC) at George Mason University (Virginia) and was deputy head of the Geneva office of the Syrian Negotiations Commission, formerly known as the High Negotiations Committee (HNC).In her role at the then HNC, Hind Kabawat had already participated in the eight rounds of Geneva peace talks on Syria in 2017. Her skills were therefore known in networks and bodies outside Syria that dealt with the situation in Syria. Hind Kabawat was also involved in the creation of the “Tastakel” center, an educational center for women dedicated to promoting non-violence and dialogue to resolve conflict situations.The spokesman for the preparatory committee for the conference on national dialogue, Hassan Dagheim, said in an interview with the official Syrian news agency “SANA” that the committee would work to ensure that all social, ethnic, cultural and religious realities in Syria are represented and that the diversity of the various Syrian provinces is respected. At the same time, with regard to the appointment of Hind Kabawat, local analysts are wondering what significance the contribution of a Christian woman has in a committee in which the radical Islamist component seems to be predominant.As in Aleppo, many local councils of professional associations (doctors, lawyers, etc.) have recently been reorganized, and the new organizational charts are predominantly made up of people linked to “Hayat Tahrir al Sham” and other influential groups in post-Assad Syria.As early as the end of August 2022, the Islamist militiamen of “Hayat Tahrir al Sham” had again allowed the celebration of a mass in a church that had been closed for ten years in the area of Idlib province under their control (see Fides, 6/9/2022). The leader of the jihadist group al-Jolani himself had “guaranteed” the celebration of the mass in the Armenian Apostolic Church “Saint Anne” near the village of Yacoubia in the northwest of Idlib. Dozens of Christians of various denominations took part in the liturgical celebration in the holy site, which previously served as a refuge for refugees. Pictures of the celebration were distributed by the Islamist militias themselves. In the previous weeks, Muhammad al-Jolani had told representatives of the Christian communities who were still in then villages of Qunaya, Yacoubia and al-Jadida, announced his intention to “protect” their liturgical celebrations and to guarantee them the gradual return of the land previously confiscated from the Christian owners. Even then, al-Jolani’s move had provoked mixed reactions. Other Salafist groups such as “Hurras al Din” had accused al-Jolani of making the province of Idlib “less Muslim”. Other analysts saw the initiative as part of a strategy by this Islamist group to make its declared “moderate turn” known internationally. Militiamen of the “Hayat Tahrir al Sham” emphasized the need to “open a new chapter” and reaffirm that Islam does not prohibit non-Muslims – including Christians – from practicing their faith freely.In 2013, al-Jolani himself was still classified as a “global terrorist” by the US State Department. In 2022, Aaron Y. Zelin wrote in an analysis of Hayat Tahrir al-Sham, published at the time on the website of the Washington Institute for Near East Policy, that al-Jolani was “no longer just the leader of a terrorist group or a rebel group” but should be seen as a representative of a change that also includes a change in attitude towards the United States. Zelin also reported that Hayat Tahrir al-Sham allegedly used secret channels to convey the following message to US officials: “We want to be your friends. We are not terrorists. We are only fighting against Assad. We are not a threat to you”. (GV) (Agenzia Fides, 14/2/2025)
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Source: United Kingdom – Executive Government & Departments 3
First-of-its-kind international defence trade mission to Kyiv deepens industry ties between Ukraine and its allies
The UK and allies have deepened industry ties with Ukraine by leading a first-of-its-kind international defence trade mission to Kyiv this week.
Led by the Minister for the Armed Forces, the trade delegation, which included Norway and The Netherlands, met with Ukrainian ministers, officials, and industry partners to strengthen strategic partnerships and enhance defence cooperation in support of Ukraine.
This was the fifth trade mission to Ukraine by Britain’s Task Force HIRST, but the first in conjunction with allies, setting a blueprint for future trade missions to be international as the norm.
Following the visit, UK companies have agreed to work more closely with Ukrainian partners, agreeing to new commitments that will build on previous agreements and boost their capabilities.
Despite a significant Russian airstrike targeting Kyiv on Wednesday morning this week, which killed one innocent civilian, the trade mission went ahead successfully, highlighting that the UK and our Allies will not be intimidated by Putin’s brutal tactics.
With firms across the UK ramping up defence production to meet Ukraine’s requirements, support for Ukraine will directly boost the UK defence sector, create UK jobs, and deliver on this Government’s growth agenda and Plan for Change.
Minister for the Armed Forces, Luke Pollard MP said:
The UK is continuing to lead the way on global support for Ukraine. By strengthening defence industry ties with allies, we are providing Ukraine with the firepower it needs on the battlefield, whilst bolstering our own defence industrial base —creating jobs and driving investment.
Our partnerships with The Netherlands, Norway, and Ukraine will help build resilient supply chains to ensure we put Ukraine in the strongest possible position to achieve a just and lasting peace through strength.
We will stand with our allies to support Ukraine for as long as it takes.
The Minister, along with officials from the Ministry of Defence and Department for Business and Trade, attended meetings focused on continuing to develop the industrial relationship with Ukraine, boosting their capabilities on the battlefield, whilst supporting growth back in the UK.
The Ministry of Defence set up Task Force HIRST to drive increases in UK, Ukrainian and allies’ industrial capacity to support the Armed Forces of Ukraine, as well as national military resilience.
Kevin Craven, CEO of ADS said:
Our continued industrial partnership with the Ukraine will be pivotal if we are to strengthen our collective security. It is an honour for ADS and our members to work in such close collaboration with Ukraine.
UK support to Ukraine has, at its heart, the knowledge that helping Ukraine is protecting our values and way of life.
The visit coincided with the NATO meeting of defence ministers, where the Defence Secretary announced a new £150 million package of military aid to Ukraine.
The £150 million package includes thousands of drones, dozens of battle tanks and more than 50 armoured and protective vehicles to be deployed to Ukraine by the end of spring, building on the thousands of pieces of equipment the UK has already given to Ukraine.
In a boost to the UK’s economy, the package also includes a multi-million-pound contract with UK defence firm Babcock, who will train Ukrainian personnel to maintain and repair crucial equipment such as Challenger 2 tanks, self-propelled artillery, and combat reconnaissance vehicles inside Ukraine. Through this agreement, equipment can be serviced and returned to the frontline quicker.
This is part of the UK’s unprecedented £4.5 billion pledge for Ukraine this year, its highest-ever level.
The Government is clear that the security of the UK starts in Ukraine and is therefore committed to Ukraine’s long-term security as a foundation for the government’s Plan for Change.