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News Release

Former Republican FCC Chair Joins Growing Chorus Calling for Hearing into License Renewal Application for Fox Philadelphia

Raynor Ave.

Former Republican Federal Communications Commission (FCC) Chairman and broadcast licensee Alfred Sikes today joined the Media and Democracy Project (MAD) and media veterans Ervin S. Duggan and William Kristol to support a petition to deny the broadcast license renewal application for FOX Corporation-owned television station FOX 29 Philadelphia (WTXF-TV). “The FCC has allowed the public interest responsibility of broadcast licensees to become a bureaucratic construct,” said Alfred Sikes. “The behavior of Rupert and Lachlan Murdoch, highlighted in the MAD petition, raises a first principles question. Is truthful conduct a part of the standard?” Nominated by President George H.W. Bush, Alfred Sikes served as the FCC Chairman from 1989-1992. Prior to his service as Chair, Sikes was nominated by President Reagan to become Assistant Secretary of Commerce and director of the National Telecommunications and Information Administration. As FCC Chair, Sikes supported providing Rupert Murdoch with critical FCC waivers needed to launch Fox Broadcasting Company. Throughout his tenure at the FCC, Sikes opposed the advocacy of Murdoch’s competitors seeking to block efforts to create America’s fourth broadcast network. “It is noteworthy that Fox News declared Biden the winner in 2020; it was after all paying expert analysts to parse data to help it project winners and losers,” Sikes says in the objection. “And then much of its prime-time news coverage and opinionators fell in behind the Donald Trump version, not the Fox version of the outcome. They choose fiction over non-fiction to make many of its listeners and viewers happy. They knew the facts and decided to ignore them.” The objection concludes by saying, “The FCC has allowed the pledge to operate in the public interest to become perfunctory at best. If the public interest means anything, the FCC must designate for a hearing the application of the Murdochs and FOX for renewal of their license to operate station WTXF, Philadelphia.” On July 3, 2023, MAD filed a petition to deny the broadcast license renewal application for Fox Corp-owned television station FOX 29 Philadelphia (WTXF-TV). MAD is calling on the FCC to initiate an evidentiary hearing into FOX’s conduct to examine whether FOX and its leadership have violated the character requirements expected from public trustees granted a broadcast license. As an FCC broadcast licensee, WTXF-TV, one of 29 FOX subsidiary broadcast stations, has a basic statutory duty to conduct its operations in the “public interest.” A copy of Alfred Sikes informal objection is available here. A link to MAD’s initial Petition to Deny is available here. For media inquiries, please contact Aaron Alberico at aalberico@raynoravenue.com. Alfred Sikes is a former Administrator of the National Telecommunications and Information Administration during the Reagan Administration. He was nominated by President George H.W. Bush to the Federal Communications Commission where he served as the Republican Chairman from 1989-92. Contact Details Raynor Ave. Aaron Alberico +1 202-744-0786 aalberico@raynoravenue.com Company Website https://www.raynoravenue.com/

August 21, 2023 08:00 AM Eastern Daylight Time

News Release

Borroe Presale Off to A Terrific Start with Over 4 Million ROE Sold, Crypto CEX Trading Volumes Fell in H1 2023

Blockchain Digest

The crypto landscape in 2023 presents a mixed bag of trends. On one hand, we're seeing a downturn in trading volumes on centralized exchanges (CEXs). However, a new player, Borroe ($ROE), is turning heads in the crypto world, demonstrating that innovative projects can still generate significant interest. The ongoing presale has already made a splash in the market. For investors unfamiliar with Borroe, it promises to be an intriguing venture, offering solutions to the Web3 community in ways that previously weren’t accessible. Borroe Presale Hits Another Milestone with Over 4 Million $ROE Sold In the ever-evolving crypto ecosystem, it's often hard for new entrants to make a significant impact, especially when the market faces challenges. However, Borroe has defied expectations with its remarkable presale figures. Over 4 million $ROE tokens have been sold, reflecting massive investor interest and faith in the project. For those unfamiliar, Borroe is not just another blockchain project. It stands out as a revolutionary platform catering to the Web3 community. This marketplace empowers Web3 creators, startups, and businesses, allowing them to convert their future recurring revenues into Non-Fungible Tokens (NFTs). These can be sold at a discount to investors in exchange for upfront cash, bringing liquidity to sectors of the market that have traditionally been underserved. What makes Borroe even more compelling is its underlying technology. By utilizing blockchain technology, tokenization, AI-driven risk assessment, and smart contracts, it provides a seamless, efficient, and automated platform to collateralize future revenues for instant funding. This mechanism reduces reliance on traditional financing, offering faster access to capital and enabling Web3 businesses to flourish without financial constraints. The presale's overwhelming success showcases the trust and excitement around Borroe's innovative approach. As the $ROE token sale numbers continue to surge, it's evident that many in the crypto community recognize the transformative potential of Borroe's platform. Borroe has already successfully completed its Beta Stage, in which $ROE tokens were priced at a mere $0.01. At press time, $ROE is in the first presale stage and has already surged to $0.0125. By the end of all eight presale stages, the native token of the innovative marketplace is expected to increase by 300%. >>BUY $ROE TOKENS NOW<< Crypto CEX Trading Volumes Fell in H1 2023 The year 2023 started on a high note for the crypto community, but by the time H2 rolled in, the momentum began to weaken. A recent report indicates a pronounced drop of nearly 43% in crypto trading volumes as Q1 transitioned into Q2. The lack of activity was particularly noticeable in April and May. Not just crypto, but NFT trading volume also experienced a downturn, plummeting from $4.84 billion in Q1 to a significantly lower $3.15 billion in Q2. This decline brings to the forefront the issue of reduced liquidity. In essence, the market risks having a diminishing pool of buyers and sellers, making it challenging to facilitate trades at optimal prices. This sentiment is further echoed by Q2's spot trading volumes on the top 10 centralized crypto exchanges (CEXs), which stood at $1.42 trillion, marking a significant 43.2% decrease from the previous quarter. Bottom Line While the broader crypto market struggles with decreasing trading volumes, it’s evident that the market is still ripe with opportunities for projects that provide innovative solutions. Borroe, with its groundbreaking offering, has managed to capture investor interest amidst these challenging times. With over 4 million $ROE tokens already sold in its presale, it stands as proof of the potential of the project and its promise to revolutionize Web3 financing. For those seeking to tap into this next frontier in the crypto space, the Borroe presale is an opportunity not to be missed! Learn more about Borroe ($ROE) here: Visit Borroe Presale | Join The Telegram Group | Follow Borroe on Twitter Contact Details Blockchain Digest Team noreply@blockchaindigest.net Company Website http://blockchaindigest.net

August 18, 2023 02:30 PM Eastern Daylight Time

News Release

Unveiling Borroe: A New Frontier in Cryptocurrency with Strong Returns!

Blockchain Digest

In a swiftly evolving digital realm, the ascent of Web3 has kindled a surging demand for just value distribution between creators and users. In this dynamic landscape, Borroe ($ROE) emerges as an avant-garde AI-fueled funding marketplace. Borroe ($ROE) extends a distinct avenue to content creators and Web3 participants, enabling them to swiftly convert future earnings into instant cash flow within supportive communities. >>BUY $ROE TOKENS NOW<< Borroe ($ROE) - Pioneering Web3 Funding for Creators and Participants Borroe ($ROE) distinguishes itself as the inaugural AI and blockchain-powered funding marketplace. Borroe ($ROE) empowers Web3 participants to access immediate cash flow by liquidating future earnings, encompassing royalties, subscriptions, invoices, and management fees. The platform empowers Web3 stakeholders to transform recurring revenue into immediate funds while the communities also partake in a fraction of the earnings. Borroe ($ROE) streamlines its process efficiently. Entrepreneurs or individuals, known as 'sellers,' enroll in Borroe ($ROE) and undergo an AI-driven risk appraisal, determining their maximum cash advancement. Subsequently, sellers 'mint' a non-fungible token (NFT) symbolizing the forthcoming income's value and loan conditions, available at a reduced rate through Borroe’s ($ROE) marketplace. Buyers are notified to contribute, and when the seller receives their income, loan settlement transpires, leaving buyers with a modest profit. Reshaping Funding Dynamics - Enter Borroe ($ROE) While revenue financing is not a novel concept, conventional platforms have grappled with the ever-changing Web3 landscape. This results in various challenges for borrowers, including exorbitant costs, automation gaps, confidentiality lapses, protracted approval processes, and compliance constraints. Borroe ($ROE) disrupts this paradigm by harnessing blockchain technology, smart contracts, and artificial intelligence. With this approach, Borroe ($ROE) introduces a swift, decentralized, automated, discreet, and cost-effective funding alternative. The $ROE token serves as Borroe’s governance cornerstone, affording exclusive benefits to holders. Such benefits encompass voting authority with rewards, primary notifications for novel sales and funding appeals, discounted fees, and a slew of rewards and incentives. Safeguarded on the Polygon blockchain, the $ROE token assures reduced fees, rapid transactions, and amplified scalability. Backed by a static supply of 1 billion units and a built-in 3% buy/sell tax mechanism, $ROE is meticulously crafted to conserve and elevate its future value. >>BUY $ROE TOKENS NOW<< An Inviting Investment Outlook Embarking on its maiden presale stage, Borroe ($ROE) offers an alluring value proposition, making it an enticing investment proposition when juxtaposed with less inspiring projects. Early adopters who persist in their investment journey may potentially savor an impressive 300% return on investment, with the price soaring to $0.040 upon Stage 8's presale culmination. As 2023 unfolds, all eyes are intently fixed on Borroe ($ROE) as it ascends, orchestrating the contours of the future of Web3 funding. Enter Borroe ($ROE), a trailblazing AI-powered funding marketplace that is redefining the way Web3 creators and participants access capital. Learn more about Borroe ($ROE) here: Visit Borroe Presale | Join The Telegram Group | Follow Borroe on Twitter Contact Details Blockchain Digest Team noreply@blockchaindigest.net Company Website http://blockchaindigest.net

August 18, 2023 01:44 PM Eastern Daylight Time

This Healthcare Tech Company Has Become The First To Receive FDA De Novo Authorization For An OTC COVID-19 Test

Benzinga

By Rachael Green, Benzinga The healthcare technology company Cue Health Inc. (NASDAQ: HLTH) has become the first company to get De Novo authorization from the U.S. Food and Drug Administration (FDA) for an over-the-counter COVID-19 test — as well as being the first FDA De Novo authorization for any over-the-counter molecular test for a respiratory disease. The Cue COVID-19 Molecular Test is designed for both at-home and point-of-care use. Cue Health was also previously the first company to receive an Emergency Use Authorization (EUA) from the FDA for an at-home molecular diagnostic test available without a prescription, which helped the company rake in over $1 billion in revenue over two years from both public (government entities) and private (point-of-care, enterprise, and direct-to-consumer) customers because it is highly accurate and has an easy-to-use design. There are still an average of over 2,000 patients with COVID-19 admitted to hospitals every day in the United States. For both the flu and COVID-19, early diagnosis and treatment are critical to preventing serious illness and even death. In March, the FDA recommended to manufacturers that had received EUAs for their COVID-19 tests to submit new applications and meet the requirements for full clearance in order to keep selling their products. Cue has already achieved that new FDA authorization for its COVID-19 test., and it also has an EUA under FDA review for its Flu A/B + COVID-19 multiplex test, plus additional requests for De Novo classification under review including for its standalone flu test and its respiratory syncytial virus (RSV) test. The company already has an EUA for its molecular test to detect the monkeypox virus. The at-home and point-of-care COVID-19 tests deliver lab-quality results to connected mobile smart devices in about 20 minutes. The test integrates into Cue Care, the company's state-of-the-art test-to-treatment service where patients can connect with a healthcare provider through the Cue Health App to discuss their results, form a treatment plan and have prescribed medications delivered straight to their door. COVID-19 Diagnostics Market Remains As The Disease Becomes Endemic Cue’s De Novo authorization comes as public health officials and epidemiologists have been continuously reporting that COVID-19 has transitioned from pandemic to endemic. Similar to the flu, COVID-19 cases will likely continue to cycle between highs and lows, but in a relatively more predictable manner. Movement into endemic status only means that testing will be even more important and needed over a much longer period of time. Early diagnosis of a respiratory illness can potentially lead to a milder infection and a decreased likelihood of hospitalization. Maintaining vigilance in preventing infection and opting for early detection and treatment at the first sign of symptoms (especially in households with children, senior citizens, family members with disabilities, or other at-risk individuals) can be crucial, especially for COVID-19. Cue Health’s diagnostic platform is able to help both patients and care providers stay ahead of COVID-19 over the long term, as the disease enters its endemic stage. By providing fast and accurate results, the platform could help minimize the spread of the disease and the risk of hospitalizations. Cue’s Molecular Diagnostic Platform — A Game Changer For Testing Cue’s test is a NAAT (Nucleic Acid Amplification Test) that amplifies and detects the virus’s RNA. Because it can amplify the genetic material, Cue’s test is much more sensitive than an antigen test. In clinical studies, the Cue COVID-19 Molecular Test matched three FDA-authorized, lab-based PCR tests with 98% accuracy. The company’s innovative technology turned the complex test into a user-friendly kit that requires no advanced training. Cue’s molecular test is proven to deliver accurate results even in the early days after exposure whereas antigen results are not nearly as reliable. This is important as, according to the CDC, treatment must be started within days after you first develop symptoms to be effective. Cue's molecular test, which delivers results in 20 minutes, is also much faster than a PCR test, which can take anywhere from 12 hours to five days. The test can be used on adults or children with or without signs or symptoms of COVID-19 and it is self-contained, meaning it doesn’t involve mixing fluids or running an involved testing procedure. Users simply insert the cartridge into their Cue Reader, collect a nasal sample with a Cue Sample Wand, and insert the Wand into the cartridge. About 20 minutes later, results are sent to the Cue Health App on the user’s phone. With its head start in the transition from EUA to permanent market authorization for its at-home COVID-19 molecular test and a slate of additional at-home tests compatible with the same Cue Reader device, analysts have expressed optimism about the healthcare tech company’s future earnings potential. This document may depict certain future planned care offerings which are subject to completion of development and/or may require regulatory authorization, clearance, or approval before they can be commercialized. This post contains sponsored content. This content is for informational purposes only and not intended to be investing advice. Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

August 18, 2023 09:00 AM Eastern Daylight Time

James Harden Celebrates First Anniversary of Launching J-Harden Wines

J-Harden Wines

NBA superstar James Harden is celebrating the first anniversary of launching J-Harden Wines by expanding distribution internationally, giving back to his fans around the globe, and elevating his support for female minority-owned businesses. Harden launched J-Harden Wines through a partnership with Accolade Wines in the summer of 2022 to make quality wine more accessible to all consumers. “I’m incredibly proud of what we accomplished in our first year of J-Harden Wines, starting with massive success in the U.S. and now expanding worldwide,” said Harden. “As a black-owned business owner, I want to make wine more available to all communities. I want people to know they can enjoy some of the finer things in life and do it at an affordable price.” Harden added, “As you’ve probably seen on TikTok and across social media, I’m literally doing cartwheels over the response we’ve seen for J-Harden Wines. I can’t wait to see what we accomplish in year two.” Harden recently wrapped up a tour of China, which joined the United States, Canada, Japan, Philippines, and Malaysia as countries that distribute J-Harden Wines. With Harden in the market for a series of appearances, China’s initial allocation of 16,000 bottles of J-Harden Wines sold out in minutes when it was released this week. J-Harden Wines plans to restock the supply in China to match demand. The success of J-Harden Wines internationally is a result of the momentum that Harden created in his first year in the wine business. He will visit with his U.S. fans during a visit to Houston’s Total Wine & More (2857 Katy Freeway, Suite 100) on Thursday, Aug. 24, from 6 p.m. to 8 p.m. J-Harden Wines and Harden will also support business grants for female minority-owned businesses, which will be given away at the Women’s Empowerment Brunch at Harden’s Thirteen Restaurant in Houston on Sunday, Aug. 20. J-Harden Wines will then participate in JH-Town Weekend, a series of fundraising events that support the Impact 13 Foundation, happening at the end of the month. “James has brought an elevated energy and enthusiasm to the wine industry through the launch of J-Harden Wines and its success over the last year,” said Enrique Morgan, Accolade’s Managing Director of the Americas. “We’ve accomplished so much together in a short period of time, and the response from his fans and our consumers has been incredible. We plan to continue making the wine more accessible in the United States and grow its distribution internationally.” Harden’s involvement in the J-Harden label goes far beyond an equity stake. Combining his love for fashion, art, style, and wine, Harden worked closely with the Accolade team to offer his input on the taste, look, and feel that matched his personality. Harden plays a significant role in the wine’s creative direction, design, and style. As a 10-time NBA All-Star and third-leading three-point scorer in NBA history, Harden continues to share his wine journey with fans across the country. Available in a California Cabernet Sauvignon, California Red Blend, and Prosecco, J-Harden Wines is available through leading retailers across the United States, including Total Wine & More, Kroger, Albertson’s/Safeway, H-E-B, BevMo!, and Target. Learn more at jhardenwines.com. About Accolade Wines Accolade Wines is a leading global wine company with famous wine brands loved around the world, including Hardys, St Hallett, Grant Burge, Banrock Station, Mud House, Petaluma, and many others. Accolade is a fully integrated business, managing the entire supply chain from grape to glass. With more than 1,400 employees in over 40 continents around the world, Accolade delivers approximately 276 million liters of wine to 130 countries every year. Contact Details Eric Nemeth nemeth@ericpr.com Company Website https://j-hardenwines.com/

August 17, 2023 01:54 PM Eastern Daylight Time

News Release

XRP's Legal Triumphs Are Good For Crypto: Pomerdoge Predicted To Be The Top Altcoin Of 2023

Blockchain Digest

The world of cryptocurrencies is rapidly evolving. Being a roller coaster ride full of ups and downs, it is a highly volatile landscape. The crypto market often faces regulatory enforcement and legal battles. Ripple (XRP), which was entangled in a long-time battle with the SEC, has emerged victorious, setting a valuable precedent. The ruling in this landmark case holds the potential to transform the crypto landscape and the industry’s future. While Ripple (XRP) basks in its legal triumph, Pomerdoge (POMD) has been gaining significant traction, making it possibly the next big thing amongst altcoins. Summary Ripple (XRP) gets a big win in its long-stretched case with the SEC. Pomerdoge, the latest meme coin priced at just $0.008, is gaining momentum. Click Here To Find Out More About The Pomerdoge (POMD) Presale Ripple (XRP) basks in the glory of its landmark victory For the past 3 years, Ripple (XRP) has been in a legal battle with the SEC. The Securities Exchange Commission had raised concerns regarding Ripple’s (XRP) status as a security, and unregistered security offering to its investors. The SEC stated that Ripple (XRP) raised over $1 billion through the sale of these illegal tokens. Ripple (XRP) denied these allegations, stating that, being a cryptocurrency, it cannot be classified as a security. As a result of this feud, a shadow of doubt hangs over Ripple (XRP), and the overall crypto industry. However, with the court ruling in favor of XRP’s parent company, Ripple Labs, the air of ambiguity has been cleared. This landmark ruling will consequently serve as an important precedent in multiple cases. Firstly, it enforces that not all cryptocurrencies are securities. Furthermore, it establishes the legitimacy of cryptocurrencies as a financial class, leading to a path toward mainstream adoption. Lastly, the clarity due to this victory has prompted optimism regarding the increased adoption of Ripple (XRP) as well as other cryptocurrencies. In the past month, Ripple (XRP) has rose by 32.31%. However, despite its big win, Ripple (XRP) has witnessed a drop of 4.55% in its weekly charts. Ripple (XRP) is currently trading at 0.629. Pomerdoge (POMD) is ready to take the market by storm Pomerdoge is becoming a rising star in the altcoin universe. Based on the meme-driven cryptocurrency culture, Pomerdoge has been gaining investor attention for its unique offerings. Being a part of the P2E gaming industry that holds the potential to reach USD 3,618.4 million by 2028, Pomerdoge is a solid and revolutionary project. It will connect players from all around the world, providing both networking opportunities and a competitive platform. Pomerdoge will combine the much-talked-about Doge meme with its innovative features, such as locked-in liquidity for life along with a revenue share from the game, proportional to token ownership in presale. Thus, it is all set to dethrone its contenders, which include Dogecoin, Pepe, Shiba Inu, etc. Further, during the months of August/ September, Pomerdoge is all set to launch a collection of 7,777 NFTs that can be bought using POMD tokens exclusively. Priced at just $0.0035, Pomerdoge offers investors an attractive opportunity to make big gains by investing early. Find out more about the Pomerdoge (POMD) Presale Today Website: https://pomerdoge.com/ Telegram Community: https://t.me/pomerdoge Contact Details Pomerdoge Press Team marketing@pomerdoge.com Company Website https://pomerdoge.com/

August 16, 2023 11:30 PM Pacific Daylight Time

Make Going Back to College Convenient

YourUpdateTV

As the end of summer approaches, college students nationwide are preparing to head back to campus, which can often be a stressful time. Recently, Allison Stadd, SVP of Brand, Culture, and Media at Shipt, participated in a nationwide satellite media tour to share her top tips for saving and shopping this back-to-college season. A video accompanying this announcement is available at: https://youtu.be/4zjgeS_FMUc College students have enough to worry about while maintaining a good GPA, participating in extracurriculars and adapting to living away from home. Making time to shop for the essentials they need shouldn’t take away from focusing on what matters most. Allison shared three tips to help students’ budget for back-to-school: 1) Stay focused on saving during the summer months! Starting off the year with some fallback cash is important in case of emergencies and before you get that next paycheck from your student union job. 2) There’s nothing wrong with taking advantage of savings opportunities! When your favorite stores and shopping solutions are offering discounts, like Shipt’s $4.99 per month student membership for same-day delivery, take advantage! Savings solutions really should be a course at college! 3) Split the costs of groceries and activities. If you’re sharing with roommates, make a budget tracker or phone notes doc to keep track of expenses to make sure it’s equitable. Shipt is the perfect shopping solution and resource that provides more than just one benefit. As an affordable resource, you can rest assured knowing that you aren’t breaking the bank to have access to reliable shoppers with Shipt that are there to help you get all your needs. Another benefit is that Shipt is a resource that gives you more time back in your day to spend on however you want! By relying on trusted shoppers with Shipt, you’ll have help gathering your essentials for you and recommending swaps if something is out of stock. This Back to College season, Shipt is partnering with actress and entrepreneur, Issa Rae, to curate a list of her must-have student essentials from Target, such as: Wooden Letter Board: Perfect for welcoming guests or jotting down notes in a creative way! Power Bank: So you don’t get caught on campus without a charged phone! Ballpoint Affirmation Pens: Level up your ballpoint pens with inspiring words of affirmation to get you through your work! Cheez-its: A timeless late night study snack! For information about Shipt’s new student membership, now available for just $4.99 per month, please visit shipt.com/student or download the Shipt app. About Allison Stadd Allison Stadd is the Senior Vice President of Brand, Culture, & Media at Shipt, where she brings her domain expertise in brand building, social media, and digital marketing to connect with consumers. Over the course of her career, she has held a variety of leadership roles, developing and executing creative strategies to forge real human connection. Allison received her undergraduate degree from University of Pennsylvania. Contact Details YourUpdateTV +1 212-736-2727 yourupdatetv@gmail.com

August 16, 2023 02:08 PM Eastern Daylight Time

Video

News Release

Odd Burger looking for major US expansion following deal signed in Washington State

Odd Burger Corporation

Odd Burger CEO James McInnes has announced the company's plans for expansion beyond Canada after signing a franchise deal in the United States. Odd Burger is a food technology company known for operating vegan fast-food restaurants and producing plant-based protein and dairy alternatives under the brand Preposterous Foods. The company's first franchise deal in the US involves the development of 20 Odd Burger locations in Washington State over the next 8 years. This expansion is part of Odd Burger's growth strategy, which involves partnering with area representatives for territory development in various states. The area representatives are individuals or entities familiar with the local market who can facilitate growth in those regions. Odd Burger intends to continue its expansion across the US through this territory development strategy. The company is actively seeking territory developers for numerous states, including Alabama, Alaska, Arizona, Arkansas, Colorado, Delaware, District of Columbia, Florida, Idaho, Iowa, Kansas, Massachusetts, Mississippi, Missouri, Montana, Nevada, New Hampshire, New Jersey, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Utah, Vermont, West Virginia, and Wyoming. By partnering with local experts through Area Representatives, Odd Burger aims to establish a strong presence and grow its brand in various markets across the US. Contact Details Proactive Investors +1 604-688-8158 na-editorial@proactiveinvestors.com

August 16, 2023 01:18 PM Eastern Daylight Time

Video

Hacks Have Taken Billions From Both Centralized And Decentralized Crypto Exchanges — Is Swopblock The Answer?

Benzinga

By James Wells, Benzinga Learn more about and invest in Swopblock via Wefunder The crypto community has faced a series of unfortunate incidents over the past two years, punctuated by the collapse of FTX, a large centralized exchange (CEX). These situations have led many investors – who are still awaiting compensation – to question the reliability of CEXs. Decentralized exchanges (DEXs) propose a solution by removing third parties and allowing users to handle their own assets. Nevertheless, many DEXs still rely on centralized components such as bridges and pipes, limiting their reach to full decentralization. Swopblock, a pioneering decentralized crypto exchange, stands out by enabling cross-chain trading with 100% liquidity distribution across user wallets. This could surpass the limitations of existing DEXs and CEXs, potentially positioning Swopblock as a leader in the decentralized finance (DeFi) field. Centralized Exchanges: A Double-Edged Sword Centralized Exchanges (CEXs) such as Binance, Coinbase and Kraken are popular cryptocurrency platforms known for their reliability and a range of benefits, including liquidity, fast transactions and user-friendly interfaces. However, these advantages come with a downside: CEXs have a custodial nature, which means they hold users' assets on their behalf. This setup increases the risk associated with relying on the exchange as an intermediary. The increased counterparty risk in CEXs can lead to potential problems. For example, some exchanges like Celsius have faced insolvency issues, while others like FTX experienced irretrievable losses of funds due to unethical practices. While CEXs offer convenience by simplifying asset management through exchange-managed wallets, it requires users to place significant trust in the exchange, making them vulnerable to these risks. Transition To Decentralization: Not The Ultimate Solution Yet Cross-chain Decentralized Exchanges (DEXs) attempt to mitigate CEXs' counterparty risk by compartmentalizing custodial control into pipes and bridges, but this does not completely eliminate the risk of custodial control failure. This can lead to single points of failure, causing significant losses if compromised (hacks, bugs, etc.). DEXs like Uniswap mitigate CEXs' counterparty risk by prohibiting cross-blockchain trading altogether, this requires using these CEXs to gain access between DEXs on other blockchains. According to Binance Research, DEXs were the most used type of decentralized application (dApp) among institutions in Q2 2023. While CEXs are an established technology, DEXs retain most centralized exchange capabilities and often provide access to more niche and experimental projects. The Swopblock Solution: Distributed Liquidity for Complete Decentralization Swopblock is a trailblazer in the DEX industry as the first fully decentralized exchange. Unlike its competitors, such as Thorchain or PancakeSwap, Swopblock ensures an impressive 100% liquidity distribution across all user wallets, significantly reducing vulnerability to liquidity pool and bridge hacks. Despite liquidity pools being decentralized, these remain susceptible targets for attacks due to the accumulation of assets. The alarming $2.1 billion lost to hacks and exploits in 2022 alone emphasizes the urgent need for more decentralized liquidity distribution. The true innovation of Swopblock lies in its decentralized liquidity distribution, setting it apart from other platforms. Powered exclusively by SWOBL, users contribute liquidity individually for their trades while retaining full control within their wallets. This approach not only addresses self-custody issues typically associated with Centralized Finance (CeFi) but also eliminates the 'honeypot' risks inherent in traditional DEXs like Trader Joe, Uniswap, and PancakeSwap. Swopblock: Ushering in a New Era of Genuine Decentralization in Crypto Exchanges As the DEX sector continues to thrive in the aftermath of the FTX fallout, and with the increasing focus on self-custody, it's crucial that both investors and developers maintain their focus on the overarching goal of crypto: decentralization. Many decentralized projects, despite their emphasis on improving capital efficiency, user-friendliness, and other metrics, have overlooked the enormous flaw of integrating any kind of single-point custodial-control failure into a decentralized exchange system. Swopblock, with its innovative technology emphasizing distributed liquidity powered by its protocol driven medium of exchange, stands as a truly disruptive force that prioritizes decentralization. As the demand for a genuinely decentralized exchange method grows, Swopblock stands ready to meet it, raising the bar across the industry. Learn more about and invest in Swopblock via Wefunder. This post contains sponsored content. This content is for informational purposes only and is not intended to be investing advice Contact Details Benzinga +1 877-440-9464 info@benzinga.com Company Website http://www.benzinga.com

August 15, 2023 09:00 AM Eastern Daylight Time

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