CFTC Slaps Crypto Prediction Platform Polymarket With $1.4 Million Fine ❌

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CFTC Slaps Crypto Prediction Platform Polymarket With $1.4 Million Fine ❌

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The Commodity Futures Trading Commission (CFTC) has imposed a fine of $1.4 million on Polymarket on charges that the company failed to register with the regulator.

In addition, the CFTC has ordered the platform to close its various markets and give full refunds to users.

Based in New York, Polymarket is a decentralized crypto predictions platform, allowing users to bet on the outcomes of event markets like pro-sports games and political elections via binary options contracts.

The CFTC said that the platform was illegally offering event-based binary options from June 2020.

The regulator also said that the company offered various event markets since its launch, and binary options comprise swaps under the CFTC’s jurisdiction.

Such services can only be offered on a registered exchange; however, Polymarket failed to obtain designation or register as a swap execution facility.

“We’re pleased to confirm that we’ve successfully agreed to a settlement with the CFTC, & are excited to move forward & focus on the future of Polymarket. As per the order, the 3 markets lasting past 1/14 that don’t comply with the Act will be prematurely resolved. More soon,” said Polymarket in a tweet.

Apple Becomes First Company ? to Reach $3 Trillion Market Cap

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On January 3, Apple became the first company across the globe to hit $3 trillion market capitalization, before dropping back slightly under the mark at the end of the day.

The first day of trading in the new year saw the iPhone maker’s share reach an intraday record high of $182.88, taking the company’s market value just above $3 trillion.

The company’s share gained as much as 3%; however, the stock ended the day up with 2.5% at $182.01, with the market capitalization at $2.99 trillion.

Apple, which is one of the most valuable companies in the world, hit the landmark as many investors hope that the company will keep launching new products and consumers will shell out more money for iPhone, Macbooks, among other products and services of the company.

Apple shares the trillion-dollar club with several companies including, Google, Amazon, Microsoft, and Tesla.

In recent years, Apple has also received the tag of the world’s most valuable company that is traded publicly.

Canned-Water Startup Liquid Death Raises $75 Million in Series C ?

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Liquid Death, a canned-water company, has raised $75 million in its Series C funding round led by studio Science.

The funding also saw participation from PowerPlant Partners, Live Nation, Nomad Ventures, and Access Capital.

Founded in 2017 by Jon-Ryan Riggins and Mike Cessario, Liquid Death is a U.S.-based canned-water company that boasts of serving 100% mountain water from the Austrian Alps.

It is the first bold and hilarious beverage brand focused on health and sustainability.

The startup’s main products are still and sparkling water in an aluminum can.

With its heavy metal themes and imagery, the company has gained a cult following.

One of the key selling points of the company is that it has chosen aluminum cans over plastic bottles as they are indefinitely recyclable

Currently, the company’s products are sold in over 29,000 locations throughout the U.S. including Target, Whole Foods, 7-Eleven stores, among others.

Liquid Death will use the fresh funds to broaden its product line and expand into new markets.

Samsung to Tackle Climate Change ? With Blockchain Technology ⛓

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In a significant development to address climate change, Samsung Electronics America has announced at the CES 2022 that it will form a partnership with Veritree, a blockchain-based solutions platform, to plant 2 million mangrove trees in Madagascar in the next three months.

This initiative of the tech giant will be monitored with the help of a distributed ledger technology, while Veritree will utilize blockchain technology to manage the process of planting and verify each planted tree.

Samsung’s tree planting initiative is part of its nature-based action plan on environmental sustainability, especially to capture and sequester CO2 from the atmosphere.

The company aims to restore about 200 hectares of land and sequester about 1 billion pounds of CO2 from the atmosphere over a period of 25 years.

Samsung will work with local community members in Madagascar’s Mahajanga region, an area facing large deforestation.

By hitting the goal of planting two million trees in Q1 2022, Samsung will work towards its initiative of investing in innovative technology and nature-based solutions to combat climate change.

Around the Web ?

Customer Engagement Startup Exotel Raises $40 Million: India-based full-stack customer engagement platform Exotel has raised $40 million in its Series D funding round. The funding, which was led by Steadview Capital, will be mainly utilized by the company to further build its customer engagement solution and to expand its presence in the Middle East and Southeast Asian markets.


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