In 2021, India’s Largest Crypto Exchange Saw a 17-Fold Rise in Volume of Trading
Despite continuing regulatory gridlock, crypto adoption is skyrocketing in semi-rural and rural India.
WazirX, the largest crypto exchange in India, saw unprecedented trading activity this year after investors from smaller cities in South Asia flocked to the digital-asset market despite remaining regulatory ambiguity and market volatility.
According to a report published by the exchange and shared with CoinDesk on Thursday, Mumbai-based WazirX, which is affiliated with Binance, generated annual trading volume of over $43 billion in 2020, a remarkable 1,735% increase over the previous year.
“We saw over 700% growth in signups from smaller cities like Guwahati, Karnal, Bareilly, and other places,” the report titled “Highlights and Observations From 2021: The Year of Crypto” claims. “It demonstrates that crypto adoption is growing in semi-rural and rural India.
While the exchange has more than 200 market pairs, bitcoin has remained the most popular cryptocurrency, followed by stablecoin tether and meme tokens DOGE and SHIB, WazirX token (WRX), and Polygon’s MATIC.
The massive rally in cryptocurrencies and the interest of Indian retail investors toward relatively cheap and volatile coins like DOGE and SHIB, which may be used to make large profits on a modest investment – a tendency observed across the world, including Turkey, where inflation is rampant. In the months preceding Diwali, investor interest in these currencies was exceptionally high.
In the wild, male investors dominated the scene in volatile meme tokens, according to a recent study. According to the research, female investors most commonly traded bitcoin. However, the number of new female users increased 1,009 percent compared to the 829 percent increase in male signups, suggesting a demographic shift reflected by crypto’s popularity among the young generation.
“Only 11% of respondents in the age group of 51 years and above said to have allocated over 50% of their total portfolio to crypto, whereas the same is true for 29% of respondents in the age group of 18-24 years,” WazirX adds. “66 percent [of users] are below 35 years old.”
The coronavirus-induced financial calamity in 2020 triggered a worldwide flood of fiat currency by central banks, making cryptocurrencies an alternative asset class in India and elsewhere.
“WazirX saw a surge in user signups after the publication of more people began reading about crypto and investing in this emerging alternate asset sector,” according to the report.
“Crypto has not only enabled ordinary people with new ways to generate online income during these turbulent times, but it has also fought the epidemic with the Indian crypto community stepping up to assist our country,” WazirX added.
Despite the fact that there is currently no clear regulatory framework in place, Indian crypto adoption has exploded. According to local press reports, the Indian government has been delaying a cryptocurrency regulation bill for at least a year and is unlikely to present it during the current winter session of Parliament.
Despite the fact that the government has recently relaxed its negative position on cryptocurrencies, the Reserve Bank of India is still anti-crypto, with governor Shaktikanta Das claiming last month that blockchain technology may flourish without digital tokens.
WazirX, on the other hand, believes that rather than ban cryptocurrencies, the Indian government will regulate them. Indian businesses will follow the example of their American counterparts and embrace cryptocurrencies, WazirX believes.
“The government’s move towards a regulated approach for cryptocurrency will put India on the map with other developed nations dealing in crypto. This, combined with robust institutional involvement in cryptocurrency, would go a long way toward paving the future of this popular asset class in India and helping us become Atmanirbhar Bharat [self-reliant India],” WazirX CEO Nischal Shetty added.
Vinco Ventures Co-CEO Ted Farnsworth Sets The Record Straight On ‘Hostile Takeover,’ Sends Message To Shareholders
*This interview has been condensed for clarity*
Recently-appointed Vinco Ventures co-CEO Ted Farnsworth apologized today to shareholders after “rogue” independent director John Colucci accused the veteran executive of planning a hostile takeover and made a series of false statements in an unauthorized company press release.
Farnsworth via his ZASH Global Media and Entertainment Company created ZVV Media Partners, a joint venture between Zash and Vinco Ventures, and delivered the joint venture’s most prized assets. ZVV Media Partners acquired AdRizer, a leading ad-tech publisher and analytics solution with a focus on revenue attribution, and Lomotif, the rapidly-growing video platform rivaling Tik Tok.
Unhappy with the delays in finalizing the joint venture (Farnsworth feels the independent directors were “dragging their feet”), the 60-year-old financier and entrepreneur was nominated to the role of co-Chief Executive Officer to “shepherd” through the close.
A July 22 8K (SEC EDGAR) filings confirmed Farnsworth was elected as co-CEO of Vinco, Lisa King was elected as President of ZVV, which holds prized assets of ZASH, Lomotif, and AdRizer, and Colucci was voted to step down as an independent director.
On this day, Vinco (BBIG) was trading at $1.10. But now, after Colucci saw the appointment differently and accused Farnsworth of masterminding a so-called hostile takeover, shareholders have seen the stock price implode hitting a 52-week low (0.79) at the close of trading on July 26 (down -55.25% year-to-date).
In an unauthorized company press release issued by Colucci, it claimed a number of executive level officers were fired and made erroneous statements about the company’s finances.
Breaking his silence on the matter, Farnsworth told Feed Layer in an interview: “First of all, let me apologize to the shareholders of Vinco Ventures. I mean, it looks like a circus is going on here.
“This deal has been out there for a year and a half, and I believe the Vinco shareholders have a right to know what’s going on. The delay is just too long.”
According to Farnsworth, Colucci — a 42-year-old with seemingly no public company experience — joined the Vinco board as an independent director to explain data to the other board members. He started in the role around six weeks ago and approximately two weeks in, the board hired one of the top independent legal firms to investigate Colucci’s independence.
“We hired one of the top firms in the country and they came back with serious reservations,” Farnsworth said, claiming Colucci refused to cooperate fully with the independent counsel and so was marked by the law firm as a “negative inference,” and they did not believe he was independent.
“Our corporate counsel sent out a letter to the company saying Colucci needed to step down as independent director immediately because we believe he doesn’t qualify as an independent,” Farnsworth continued, adding he believes Colucci did not disclose certain third-party transactions.
“It’s about the disclosure. The bottom line is it was a lack of disclosure so when our lawyers said to have him step down as independent director and take an administrative leave of absence, instead, he authorizes a press release without required company approvals.
“People might say Colucci can be a very charming guy and I would agree, but smart people see right through that.”
Farnsworth admits he was concerned by Colucci’s disturbing behavior in the build up to the public smear against him, and says he thinks Colucci’s lack of experience in the complex world of public companies, rules of NASDAQ, SEC regulations and laws, is behind the sudden coup attempt.
“Fast-forward to where we are today, John Colucci is not qualified to be an independent director. Especially if he’s claiming to be CEO. He’s sitting here just blocking the company right now from getting work done and damaging shareholder value for the shareholders of Vinco Ventures,” Farnsworth said.
“Then he comes out with this accusation of a ‘thwarted hostile takeover from the Farnsworth Group.’ Well, if you know Wall Street, a hostile takeover is when they come in to buy your company and management doesn’t want you in there. This deal has been out there for a year and a half and it can’t be hostile because I was the one who raised the money and brought in all the assets – Lomotif, AdRizer, etc. – and closed on these. So there’s no way that’s hostile.”
Farnsworth said employees of Vinco started a petition about refusing to work with Colucci.
“The only ones that are suffering here are the Vinco shareholders. That’s really troubling to me where they have a right to know what we’re doing, how it’s going to happen, how we’re closing. I can tell you certain documents have been with the independent directors for the last several months to close these things out. It’s just a game they’re playing and now I’m calling them out on it because the company is owned by the shareholders. It’s not owned by John Colucci.
“When you look at it, it’s really him doing a hostile takeover. This is all about his ego and it really is a power grab.”
In response to the unauthorized press release that Vinco immediately took it down from its investor relations website, Farnsworth said: “John Colucci has run rogue. I’m still co-CEO as long as the shareholders will have me as co-CEO, I’ll be there. The chairman Rob Vanderbilt is still chairman of the company and as long as they keep him there and Lisa King, she’s still a director.”
“We are here for the Vinco shareholders supporting anything they stand for. If anything changes I’ll be the first one to tell them.”
The Real Deal on a Four-Day Workweek
For many people, it’s difficult to imagine a work week that doesn’t begin on Monday and end on Friday. For decades, millions of people across the world have built their week around Monday through Friday. However, as the pandemic continues to change Americans’ attitudes toward work, many are reconsidering how they may balance work and life.
After all of this research, I discovered that the concept of a five-day workweek was first proposed as early as the 1860s by many labor organizations in the United States seeking to pass legislation for an eight-hour working day. The Fair Labor Standards Act was amended in 1938 to limit the workweek to 40 hours per week, which resulted in the Monday through Friday, five-day work week that is well known today, according to Business Insider.
Despite the passage of this law, many individuals are still compelled to work more than 40 hours per week. According to a Gallup poll conducted in 2014, the typical salaried employee put in around 49 hours each week. Furthermore, according to Vox, workers are still clocking more than 40 hours per week even during the COVID-19 epidemic. Many people feel that achieving a work-life balance is difficult because they are either working from home or doing a hybrid arrangement that includes both in-office and at-home work.
A four-hour workweek might be in your future
In the previous decade, businesses and nations all over the world have started to reconsider the five-day workweek. More than 2,500 Icelandic employees were involved in a research in 2015 and 2019 that introduced them to a four-day workweek rather than the usual five-day week. The study’s findings suggested that those who took part in it reported feeling less stress and a better work-life balance, while their employers claimed that their productivity remained the same or improved. Many other countries around the world, such as New Zealand, Singapore, and Spain, subsequently looked into mandating a four-day workweek as a result of these studies. According to The Guardian, several American businesses, including Bolt Electric and Panasonic Electronics, are already adopting the four-day workweek. Microsoft, which offers a four-day workweek for its workers in Japan, states that the four-day workweek has boosted output by 40%.
Although many individuals tout the advantages of switching to a four-day week in place of a five-day one, the United States government has yet to push through any legislation establishing such a schedule in the country.But this may soon change, as more effort is put into protecting employee rights. The Great Resignation, which has seen millions of Americans leave their jobs in the past year, and the current movement for worker rights that has necessitated wage increases in many states have the potential to push forward further workplace reform in the near future, according to Vox.
The Best Valentine’s Day Gifts for Every Stage of Your Relationship, According to a Matchmaker
Rori Sassoon, a celebrity matchmaker and relationship expert, reveals the ideal Valentine’s Day presents for every stage of your love affair.
Valentine’s Day might be a significant event, especially if you’re new to each other. If you’re stumped as to what to get your lover this year, we’ve got you covered. Rori Sassoon, a celebrity matchmaker, offered us her top V-Day present ideas and you’ll want to check them out.
“When shopping for a Valentine’s Day gift, keep in mind that the gift is as big of a deal as your partner places on gift giving,” Rori shared. “Maybe they’re a fan of quality time over a luxury gift. Take that gesture of love and perhaps put it toward a shared experience. Most importantly, while you might strive to be the ultimate gift giver, stay within your means. If you have anxiety about being able to afford something over budget, rethink how you can find a similar item at a price point you’re comfortable with.”
Choosing the ideal present for your spouse on Valentine’s Day may be a difficult task, depending on where you are in your relationship. After all, if you’re just getting acquainted with someone, the presents you give won’t be at the same level as they’d be after a year.
Rori offered some advice on the finest types of presents to get your partner for each stage of your relationship, and we compiled a list of pointers to assist you get started.
It is good to note to learn your partners love language to help know what is the best gift to give to your partner.
Just Started Dating
When you’re starting to date someone around Valentine’s Day, you want to make a point of demonstrating that you care without being too cheesy (if that’s the case). Give them a card and a trifle. You’re indicating that you’d like to continue seeing them without unintentionally making them feel overwhelmed. Have a wonderful Valentine’s Day. However, keep in mind that there’s no need to be excessive—you’re just getting to know this individual.
We’re Not Really Strangers Card Game – 100% Realism Expansion Pack
This 50-card expansion pack for the wildly popular We’re Not Really Strangers Card Game was created for first dates to the “What are we?” phase of the relationship. It comes with all kinds of questions you’ve been dying to ask like “When’s the last time you ghosted someone and why?” and “What was the first thing you you noticed about me when we met in person?” It’s a great way to get to know your new love interest.
You Be My Valentine Pop-Up Card from YouBeBeloved is a lovely expression of love.
Lovepop has a variety of fun pop-up Valentine’s Day cards that are perfect for newly dating couples like this “Whale you be my Valentine?” card. All the options are really fun and colorful. You’ll definitely put a smile on their face.
We’ll See Where This Goes – Casually Dating
If you’re in a relationship or anything more casual, avoid wrapping gifts. Instead, create the ambiance for a raunchy night — lingerie, candles, romantic music, and maybe a sex toy or two. On this lovey-dovey day, capitalize on your physical attraction to each other. There’s no need to spend a lot of money on someone you don’t know if there’s going to be a long-term connection with. Have fun!
Tease Or Tumble Tower Game
The Tease Or Tumble Tower Game, which is simply a more grown-up version of the same thing, may be played by adults. Each brick has a hot question or activity such as “Remove an article of clothing” or “Massage your spouse for one minute.”
Box Of Dares
This box of challenges was created for couples at all stages and is especially enjoyable for individuals in a “where do we go from here” scenario. It includes 100 cards with dares that range from flirty to erotic, along with a box of 100 stickers.
Dating for at Least Six Months
When you’ve been dating someone for six months, it’s rather obvious that you care about each other. You want to give a gift that demonstrates the kind of giver you are. Gift-giving is one of love languages, and you should attempt to combine equal measures of sexy, fun, and thoughtful into your present. Regardless of the item, keep quality first! Consider a private spa trip or a concert at six months. Shared events will just bring you closer together.
Amorous Arcana: Valentine’s Tarot Lesson & Reading
What’s in store for your relationship in the future? Let the cards be your guide. This Valentine’s Day tarot lesson and reading will stay with you and your spouse forever. You’ll have the opportunity to do a tarot reading while Holly, the instructor and reader, assists you in interpreting the cards. If you already have a tarot deck, the procedure alone costs $25. If you don’t have one, a package including a deck and guidebook can be purchased for $50.
Tickets to a Concert or Event
If you want to give them something they’ll like, get them a ticket to a game, concert, or other event. It will be a shared experience that both of you can enjoy.
Committed for at Least One Year
If you’ve been with someone for a year, there’s always that lovely bright ring to it. You’re likely in love, and you see a hopeful future together. Purchase an outfit together for Valentine’s Day on a shopping trip. If you have a partner who is clueless about fashion, assist them in finding some trendy shoes or a designer belt.
Custom Couple’s Sweatshirts with Embroidered Roman Numeral Date and Initials
If you’re looking for a fun Valentine’s Day present for your significant other, consider getting them a pair of matching sweatshirts from Etsy. You may personalize it to include your initials, a date, and a heart. The New Bedtime Storybook by Leachco has a selection of colors ranging from black to white, light pink, navy, and gold. It’s a must-have for couples that have been together for at least one year.
Vertical and Horizontal Spotify Code Couples Necklace
What’s the song that holds a special meaning for you and your significant other? This personalized Spotify code necklace will always keep it close to your heart. The two necklaces are made of copper, and they’re ideal for keeping your favorite song on repeat. They’ll contain the Spotify code to your song so you can quickly scan and play whenever you want. You have the option of receiving them in rose, gold, or silver.
When you’re in a long-term relationship, you’ve celebrated many Valentine’s Day occasions. You know what your partner wants at this point. If your partner likes jewelry, add something to their collection. If your partner can’t say no to a watch, give it to them. Regardless of the price tag on the present, make sure to include a thoughtful note. Words of encouragement might be the most appealing turn-on. Your fire never has to go out!
Personalized Dinner Spinner Date Night Idea Board
Have you ever found yourself in a situation where it takes hours to figure out what to eat because one spouse is unable to make up his or her mind while the other is great with “whatever”? The Etsy-made personalized dinner spinner board can assist you with this. It’s completely alterable, and you can pick your own names and favorite restaurants. You’ll be wondering why you didn’t get it sooner once you have this!
Personalized Ticket To Love Box
If you enjoy the concept of love coupons, this outstanding personalized ticket box takes it to a new level. You may pick from 40 ticket themes ranging from “Free Back Rub” to “clothing-optional adventures,” and the box can be personalized with your partner’s name. It’s both amusing and distinctive.
The ideas are endless, but really the key is the more thoughtful the gift the better. As well as a gift that makes your partner feel like you really know them. Getting them a gift that is simple that you know is something related to what they like can be the meaningful.
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