News Hub | News Direct

All Industries


Article thumbnail News Release

HTX Research | Which Project Will Lead the DA Sector? An Analysis of DA Wars: Background, Ecosystem, and Future Development

HTX Research

The market for Data Availability (DA) projects is witnessing rapid expansion, leading to a fiercely competitive environment. Notable players in this sector include Celestia, EigenLayer, Avail, NearDA, Covalent, and several others. Based on the analysis from HTX Research, the core technology behind DA is not as demanding as it appears. The simplest form of DA can be achieved with a single machine, while more complex approaches, such as Celestia, employ decentralized sampling methods. Essentially, DA revolves around storage, which incurs high costs. If Ethereum-level security services are not strictly necessary, selecting a DA provider becomes a trade-off between cost and security. The principle is the higher the value of the service, the more secure the DA should be. Presented by HTX Research, this report offers an in-depth analysis of the background, ecosystem, and future development of the DA Wars. It also includes V God's insights on DA and categorizes different DA projects. Based on a comprehensive analysis of the DA landscape, HTX Research believes that the future of DA may be decentralized and that having 7-8 major DA providers might be sufficient for the future market. 1. The Emergence of the DA Problem 1.1 What Is DA In simple terms, Data Availability (DA) refers to the block producer publishing all transaction data of the block to the network, enabling validators to download it. If a block producer publishes complete data and allows validators to download it, we say the data is available. However, if the block producer withholds some data so that validators cannot download the complete data, we say the data is unavailable. 1.2 Two Key Aspects of the DA Problem: Security and Cost After examining the definition of DA, it becomes clear that it consists of two crucial aspects: Ensure the security of the verification mechanism To ensure secure verification, current L2 sequencers typically publish L2 status data and transaction data on the highly secure Ethereum network, relying on Ethereum for settlement and DA. Therefore, the DA Layer is where L2 actually publishes transaction data. Currently, mainstream L2 solutions utilize Ethereum as the DA Layer. Reduce the cost of publishing data At present, L2 simply relies on Ethereum for DA and settlement. While this approach offers sufficient security, it also incurs substantial costs. This poses the second challenge for L2: how to reduce the cost of publishing data. 2. Cost Structure of DA and Approaches to Reduce Costs and Enhance Efficiency From the introduction in Chapter 1, we can see that one of the important concerns in DA is how to reduce costs. Therefore, if you aim to make L2 cheaper overall, you must reduce the cost of publishing data. So, how to reduce costs? There are two main methods: Reduce the cost of publishing data on L1, such as the upcoming EIP-4844 upgrade of Ethereum. Following the example of Rollup, which separates transaction execution from L1, DA can also be decoupled from L1 to reduce costs. In other words, Ethereum is not utilized as the DA Layer. Therefore, all parties have made considerable efforts to reduce costs. After comparing the currently available plans, the cost of Near DA is the lowest, at about $0.0016 per block, followed by Celestia, EngenLayer, EIP4844, and so on. 3. Vitalik's View on DA 3.1 Ethereum Foundation and Vitalik Buterin Support Use of Ethereum for DA After Celestia went viral, the co-founder of Ethereum, Vitalik Buterin implied that Ethereum's L2 projects must utilize DA on the Ethereum blockchain. Subsequently, Ethereum Foundation researcher Dankrad Feist stated in a tweet that it's not a Ethereum Rollup without using Ethereum as the DA Layer, and therefore, it's not L2. In that case, Arbitrum Nova and Mantle should be "delisted" from the L2 projects because they only disclose transaction data on DAC, outside the Ethereum blockchain. At the same time, Dankrad also mentioned that solutions like Plasmas and state channels that do not require on-chain data availability (DA) to ensure security are still considered L2, but Validium (ZKRollup that does not use Ethereum as the DA Layer) is not considered L2. 3.2 Vitalik's Compromise: Ethereum Rollups Utilizing External Data Chains for DA Classified as Ethereum Validium Later, in a response on his X, Vitalik Buterin stated, "Being a Validium is a correct choice for many apps, and using good distributed DA guarantee systems can be a good way to increase the practical security of a Validium." Moreover, he believes that the core of being a rollup is the unconditional security guarantee: you can get your assets out even if everyone else colludes against you, and you can't get that if DA relies on an external system. 3.3 Consolidating Control over DA through ENS: Vitalik's Vision The ENS domain name service will define a set of interaction logic. Users will only need to enter a short domain name to automatically connect to the associated long address corresponding to the ENS smart contract, thus addressing the pain points of complex, difficult-to-remember, and hard-to-identify EOA addresses. It should be noted that this set of domain name services of ENS points to the future expansion market with larger user traffic, especially some Mass Adoption user groups. L2 is the future for Ethereum to expand and absorb large traffic. Vitalik believes that if ENS's domain name resolution solution doesn't extend to L2 and remains restricted to the Ethereum mainnet level, it will be difficult to open up space for imagination. Based on this background, he emphasized the importance of ENS on X, "It needs to be affordable!" ENS will naturally consider providing a complete set of data parsing solutions for L2, allowing users to directly perform domain name resolution and data search on L2. This reduces the dependence on their respective L2 centralized gateways. It is not difficult to see that for users to use the ENS domain name normally on L2, the prerequisite is to access and verify the global data on the Ethereum mainnet. This means that to enjoy the set of services of ENS, you must use the orthodox Ethereum DA capability, and those L2 solutions based on OP Stack's shortcut and placing DA on third-party platforms such as Celestia are not compatible with ENS. Having said that, it is not difficult to understand Vitalik's intention. In short, Vitalik is striving to use ENS to define a standardized set of interoperability specifications for L2 platforms, while simultaneously tightening control over DA. 3.4 Vitalik Discussing Plasma's Resurgence In Vitalik Buterin's article, he discusses the various L2 scaling solutions originally proposed for Ethereum, including Plasma, Rollup, Validium, and Parallel. Vitalik's vision for scaling entails a balanced development of these solutions, tailored to different application scenarios. However, the current market landscape is predominantly shaped by the Rollup solution, which is becoming increasingly competitive. Plasma, a sidechain solution, periodically syncs Merkle state data with the main network. It is a scaling solution that depends on the main network for data and computation. This allows Layer 2 to scale efficiently through a highly centralized approach and the design of a complex ledger model, while also leveraging the system capabilities of the main network validators. Vitalik's new article revisits Plasma and introduces a ZK+Plasma scaling solution, which is evidently another strategic move in the L2 landscape. 3.5 Summary All of Vitalik's actions can be summarized as: 4. Overview of DA Solutions and Various DA Projects 4.1 DA Solutions Based on the provided content, we can see that there are many solutions for the DA Layer. Broadly, these solutions can be categorized into two main parts: on-chain and off-chain. On-chain solutions Refer to L2 solutions that still utilize Ethereum as the DA Layer, leveraging Ethereum to mitigate DA costs. This implies that Ethereum will evolve into a real-time bulletin board in the future, with data on the board being deleted after a certain period. L2 solutions must develop methods to independently store all data backups. Off-chain solutions Refer to strategies that no longer rely on Ethereum as the DA Layer, seeking more cost-effective methods to ensure DA. Based on variations in decentralization and security, off-chain solutions can be categorized into four types: Validium, Data Availability Committee (DAC), Volition, and general DA solutions. 4.2 Celestia A pioneer in modular public chains, Celestia is built on the Cosmos SDK with a primary focus on DA. It stands as a competitive leader among DA projects that have already launched the mainnet. Technical features Data Availability Sampling (DAS) DAS allows light nodes to verify DA without having to download the entire block. Light nodes download only the block headers, which limits their ability to verify the DA of a block since they lack access to the full block data. Celestia uses a two-dimensional Reed-Solomon (RS) encoding scheme to re-encode block data to enable DAS for light nodes. DAS works by having light nodes randomly sample a small portion of the block data. As light nodes complete more rounds of block data sampling, confidence in the availability of data increases. Once light nodes have successfully reached the predetermined confidence level (e.g., 99%), the data is considered available. Namespaced Merkle Trees (NMT) NMT allows the execution layer and settlement layer on Celestia to download only transactions that are relevant to them. Celestia partitions the data in a block into multiple namespaces. Each namespace corresponds to an application built on Celestia, such as a rollup. Each application only needs to download the data that is relevant to it, improving the efficiency of the network. Celestia derives its primary revenue from applications through two main methods: Blob Space Fees: Rollup applications utilize $TIA to pay for storing their data in Celestia's blob space. Gas Fees: Developers use $TIA as the gas token for Rollup transactions, similar to how ETH is used as gas in Ethereum-based Rollups. Development Potential The project has successfully launched and has achieved a high level of technical maturity. It boasts exciting prospects for rewarding airdrops, targeting participants who have staked $TIA tokens. Projects such as Dymension and Altlayer specifically select $TIA stakers as recipients for their airdrops. Likely, more Ethereum L2 projects, modular blockchain solutions, and projects within the Cosmos ecosystem will adopt a similar airdrop strategy. The ecosystem is enriched through collaborations with cross-chain bridges, settlement layer solutions, DeFi projects, gaming platforms, and oracles. The list of collaborative partners in the DA domain continues to expand, and notable collaborators include Manta, Eclipse, Caldera, and Snapchain. In addition, it also integrated with Arbitrum Orbit, Polygon's CDK, and the Aevo derivatives trading platform, among others. 4.3 EigenDA EigenLayer is an Ethereum-based restaking protocol that enables users to restake their ETH, lsdETH, and LP Tokens on other sidechains, oracles, middleware, etc., as nodes and receive validation rewards. This allows third-party projects to leverage the security of the Ethereum mainnet, while ETH stakers can earn additional income, creating a win-win situation. EigenDA is a decentralized DA service built on Ethereum using the EigenLayer Restaking framework. It serves as the inaugural Active Validation Service (AVS) on the EigenLayer platform. In contrast to Celestia or Avail, EigenDA doesn't require bootstrapping a new set of validators. Ethereum validators have the freedom to choose to join EigenDA at their own discretion. Technical Features Enhancing Ethereum's DA Capability: Blob Block Data and KZG Commitment EigenDA leverages the upgraded Blob block data and KZG commitments introduced in the Cancun upgrade. The Rollup chain can generate erasure codes and KZG commitments for Blob Data, which are then published to the EigenDA contracts. The nodes within EigenDA ensure the subsequent DA capabilities for the chain. This significantly boosts Ethereum's DA capabilities. Notably, EigenDA's entire operation is built upon existing Ethereum infrastructure like Blob and KZG. Additionally, validation tasks for EigenDA nodes are performed by Ethereum Validators. P2P Networks with No Central Authority EigenDA nodes must re-stake ETH (or more precisely, stake ETH derivatives) in the EigenLayer contract on Ethereum Layer 1. EigenDA nodes are a subset of Ethereum validators. Then, after the DA buyer (e.g., rollup, also known as disperser) receives the data blob, it encodes it with erasure code and generates a KZG commitment, which is published and distributed for node confirmation. Afterwards, the disperser collects these signatures one by one, generates an aggregated signature, and publishes it to the EigenDA smart contract, which verifies the signature. Adopting Delegated Proof-of-Stake (DPoS) Instead of employing DA sampling, EigenDA utilizes the DPoS consensus mechanism to verify whether nodes genuinely store data. Anyone can submit proof to the EigenDA smart contract, which will be verified by the contract itself. If the verification is successful, the Lazy Validator is slashed. Development Potential Engaging in competition with Celestia, EigenDA has integrated several L2 projects, including Celo, Mantle, Fluent, Offshore, OP stack, among others, as collaborative partners. Backed by Eigenlayer's diverse ecosystem, which includes sorters, cross-chain bridges, oracle machines, and more. 4.4 Other DA Projects 4.4.1 Avail Avail can efficiently sort and record transactions, provide storage and verification of DA, support EVM-compatible blockchains, and enable Rollups to publish data directly to Avail. Additionally, its light client network verification mechanism (to be introduced below) allows Rollups on Avail to verify the state through the light client network without relying on smart contracts and the underlying layer. Due to its modular nature, developers can store data on Avail and choose other networks for settlement. Using the BABE and GRANDPA consensus mechanisms inherited from the Polkadot SDK. Decentralized. Avail adopts Nominated Proof of Stake (NPoS) which allows it to support up to 1,000 validators (in Mainnet). This mechanism, along with an effective reward distribution mechanism, minimizes the risk of stake centralization. Avail is unique among all DA solutions in its ability to sample data from its light-client P2P network. Because of this feature, Avail provides an efficient and reliable backup mechanism that ensures DA even in the event of a failure. Validity Proof: Avail utilizes KZG polynomial commitments. Current Status: The Avail mainnet has not yet been launched. 4.4.2 Near DA On November 8, 2023, the NEAR Foundation announced the launch of the NEAR DA Layer, which provides a robust, cost-effective DA for ETH rollups and Ethereum developers. The first users include Madara by StarkNet, Caldera, Fluent, Vistara, Dymension RollApps, and Movement Labs. Security: Inherits the security of the Near network. Cost Advantage: 100kB calldata on NEAR costs $0.0033. Current Status: NEAR DA has integrated with Polygon CDK, empowering developers to build Ethereum ZK Rollups. 4.4.3 Covalent Covalent is a blockchain data query service platform that can standardize data from multiple blockchains. Its unified API allows developers to reuse queries across supported networks, solving the problem of blockchain data being difficult to obtain. After the Cancun upgrade, the Ethereum mainnet will only store L2 submitted state data for 1 month, after which it will be discarded. In order to maintain the decentralization of the network and establish the DAS light node mechanism, Celestia will also regularly discard the L2 submitted state data. However, in November last year, Covalent launched the “Ethereum Wayback Machine (EWM)” for long-term storage of L2 state data discarded by the blob. Covalent is responsible for reading the L2 state data. Covalent goes beyond simple storage and integrates L2 data into its platform's on-chain data API service. Covalent facilitates seamless user access to blockchain data, providing data service support for specific user groups such as blockchain data websites, government regulatory departments, AI researchers, and more. Current Status: As of December 2023, Covalent supports over 210 blockchains and plans to support over 1000 blockchains by the end of 2024. Based on a recent Covalent DA report by Messari, it's evident that Covalent boasts billions of data points, making it the best choice for applications requiring widely applicable and universally relevant data. 4.4.4 zkPorter zkPorter, an off-chain DA solution optimized for decentralization, was launched by the Ethereum scaling solution zkSync. It handles DA through a hybrid approach that combines zkRollup and sharding ideas. zkPorter introduces an optional validator mechanism, where zkSync token holders stake tokens to later verify and sign blocks. In the absence of recent updates, zkPorter's development has been closely watched. The GRVT chain, operating as a Layer3 application chain on the zkSync platform, is set to launch its mainnet in the first quarter of this year. Given the project's reliance on zkPorter for data storage, there is speculation that zkPorter's launch might precede that of GRVT. 4.5 Comparison of DA Projects Technical aspects: Performance aspects: Summary Among the aforementioned DA projects, the most competitive ones include Celestia, EigenLayer, Avail, and NearDA. Covalent, on the other hand, adopts an unconventional approach, leading to unique demand for its DA applications. Of all the DA solutions, DAS coupled with KZG polynomial commitment emerges as the most mainstream approach. It ensures DA while simultaneously reducing node costs and enhancing proof efficiency. From a technical standpoint, Ethereum Danksharding and Celestia stand out as the most decentralized solutions. They employ sampling technology, which effectively reduces node performance requirements while achieving high bandwidth. EigenDA follows closely with its use of sampling; however, it operates as a parasitic system on Ethereum, with its node count being a subset of Ethereum's. Other DA projects, like NearDA, do not utilize sampling. For instance, the decentralization level of NearDA is equivalent to that of Near Protocol. Celestia has chosen the Optimistic proof, which features a lower landing threshold and higher technical maturity compared to KZG polynomial commitment. However, its future technical potential may not match that of KZG polynomial commitment. In comparison with similar projects like Avail and EigenDA, Celestia's development progress is currently faster, positioning it to launch its mainnet sooner. Nonetheless, Celestia will also confront direct competition from Ethereum following the Cancun upgrade. As a L2 developer, the trade-off between DA authenticity and chain issuance cost is always a critical consideration. DA authenticity tends to be relatively passive in the commercial market, making it suitable for comprehensive L2 projects that prioritize security consensus issues and possess a certain brand background and market foundation. However, new and small L2 projects, especially those based on OP Stack for one-click chain issuance, strive to minimize costs as much as possible. For them, third-party DAs like Celestia are naturally a better choice. While Eigenlayer still struggles to reduce the actual development costs for L2 project developers. However, for DA Layer projects, their scenarios are often singular, focusing on a business-to-business (B2B) model. These projects struggle to attract substantial liquidity compared to comprehensive public chains like Solana, which can draw decentralized applications (DApps) through consumer-to-consumer (C2C) scenarios. Without successful adoption by many Rollup projects, their ecosystem construction remains weak. Moreover, Celestia appears to lack significant capital backing. While the technical aspects of Celestia appear logical and feasible, its ultimate success hinges on its ability to integrate and flourish within the Ethereum ecosystem. Otherwise, its ambitious plans may languish unrealized, becoming mere illusions. 5. DA Layer and Modularity in Blockchain DA Layers have always existed, whether in Bitcoin, Ethereum, or Solana blockchain. For example, in the Bitcoin network, data is stored directly on the blockchain. Fifteen years ago, Satoshi Nakamoto published the Bitcoin whitepaper and limited the block size to 1MB. The block size determines the maximum transaction data each block can accommodate. Later, SegWit, Taproot, and the Ordinal protocol, in a way, were also introduced to enhance DA on the BTC network. In the Pre-4844 Ethereum network, all data transmitted from L2 to Layer 1 is stored in Calldata. While Rollup transfers computation security to L2, storage remains on Layer 1. Due to the limited storage capacity of Layer 1, the capacity of Rollup on Ethereum is constrained. The block size of Ethereum is about 150K-250K. Even if all the space is allocated to Rollup, the storage space remains limited, thereby constraining the throughput of L2. Therefore, Ethereum needs to adopt Proto-Danksharding, which enhances DA by introducing a new transaction type that includes blobs. Therefore, it can be said that the DA Layer is actually an abstracted layer that accommodates the expansion needs of various blockchains and the increased requirements for DA. It reflects the evolution and development of blockchain technology, resembling the refinement of labor division in human development processes. Notably, modular blockchain decouples specific functional layers from a monolithic blockchain, outsourcing them to other blockchain networks, thus achieving further division of labor to a certain extent and enhancing efficiency. Celestia Proposes the Modularity in Blockchain The architecture of a traditional monolithic blockchain typically consists of four functional layers: Execution Layer: The execution layer is mainly responsible for processing transactions and executing smart contracts. It includes transaction verification, execution, and state updates. DA Layer: The DA Layer in a modular blockchain is responsible for ensuring that the data in the network is accessible and verifiable. It usually includes functions such as data storage, transmission, and verification to ensure the transparency and trust of the blockchain network. Consensus Layer: The consensus layer is responsible for the protocol between nodes to achieve the consistency of data and transactions in the network. It verifies transactions and creates new blocks through a specific consensus algorithm (such as PoW or PoS). Settlement Layer: The settlement layer is responsible for completing the final settlement of transactions, ensuring the transfer of assets, storing permanent records on the blockchain, and determining the final state of the blockchain. Celestia first introduced the concept of modularity in blockchain, which involves decoupling different functional layers from the monolithic blockchain. This approach allows the blockchain to concentrate on the specific functions of each layer and effectively distribute the workload to maximize overall availability. The statement does not assert that a modular blockchain is necessarily superior to a monolithic blockchain. Instead, it expresses a desire to examine the future development of blockchain from a modular perspective. This approach enables the exploration of a broader spectrum of possibilities and conjectures. 6. Speculations About the Future 6.1 Blockchain Combination: A Modular Perspective In the previous paragraph, it was noted that a blockchain can be divided into four layers from a modular perspective: the execution layer, the DA Layer, the consensus layer, and the settlement layer. Let's take the Ethereum ecosystem as an example. In this context, the consensus layer refers to the Ethereum main chain. In the Ethereum ecosystem, the potential number of possibilities for modular blockchain in the future can be determined using the formula: Number of possibilities = Number of execution layer solutions * Number of settlement layer solutions * Number of DA Layer solutions. 6.2 The Decentralized Nature of the DA Layer DA Layers can emerge rapidly, akin to mushrooms after spring rain, due to the fact that DA isn't overly difficult. The simplest approach to DA is to implement it on a single machine. The most complex method involves decentralized sampling, as seen with Celestia. Decentralization via sampling means that the more nodes there are, the greater the bandwidth (imagine a peer-to-peer movie download network). This also generates network effects, suggesting that there won't be too many of these 'decentralized sampling DAs' in the end. However, there are no restrictions on other forms of DA, and their potential is boundless. Let's use an analogy: DA functions as storage, which can be costly. If you don't require Ethereum-level security, selecting a DA provider becomes a trade-off between cost and security. The principle is the higher the value of the service, the more secure the DA should be. Therefore, future DAs may be decentralized. Even so, perhaps 7-8 major DAs might be sufficient. 6.3 The Potential of a Specialized DA Layer in ETH 3.0 The upgrade of Ethereum from 1.0 to 2.0 divided Ethereum into the execution layer and the consensus layer. The newly introduced blobs will also be incorporated into the consensus layer of the beacon chain. In the future, possibly in the next Ethereum upgrade, driven by technological advancements and increased DA, Ethereum may incorporate a dedicated DA Layer on top of the execution and consensus layers. Alternatively, a dedicated data storage chain resembling a sharded chain may emerge in the next upgrade. These are speculative scenarios, and the actual direction of development remains to be seen. — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — — This article is a product of diligent work by the HTX Research Team that is currently under HTX Ventures. HTX Ventures, the global investment division of HTX, integrates investment, incubation, and research to identify the best and brightest teams worldwide. With a decade-long history as an industry pioneer, HTX Ventures excels at identifying cutting-edge technologies and emerging business models within the sector. To foster growth within the blockchain ecosystem, we provide comprehensive support to projects, including financing, resources, and strategic advice. HTX Ventures presently backs over 200 projects spanning multiple blockchain sectors, with select high-quality initiatives already trading on the HTX exchange. Furthermore, as one of the most vigorous Fund of Funds (FOF) investors, HTX Ventures collaboratively forges the blockchain ecosystem alongside premier global blockchain funds, including IVC, Shima, and Animoca. References 1. Long Tweet: Analysis on Da by jianshu https://twitter.com/jianshubiji 2. Long Tweet: The new narrative rising in the post-Cancun upgrade era—DA War https://twitter.com/0xNing0x/status/1744350282509631590?s=20 3. The end of Ethereum Rollups (STARKNET) battles, new narrative DA: https://news.marsbit.co/20240220083034666673.html 4. First Class Cabin Research Report: The Modular Blockchain Celestia https://medium.com/@first.vip/%E5%A4%B4%E7%AD%89%E4%BB%93%E7%A0%94%E6%8A%A5-%E6%A8%A1%E5%9D%97%E5%8C%96%E5%8C%BA%E5%9D%97%E9%93%BEcelestia-a2532da9d2be 5. Deep Dive Research Report on EigenLayer: Ethereum's Middleware Protocol, Leading the Narrative on Re-Staking https://www.aicoin.com/article/360322.html 6. Long Tweet: DA Solutions https://twitter.com/i/web/status/1700728653750087945 7. What is EigenDA, the flagship product of the re-staking protocol EigenLayer? https://www.blocktempo.com/what-is-eigenda-that-eigenlayer-will-launch/ 8. An Overview of Five Factors in Modular DA Design: Who is the winner among Celestia, Avail, and EigenDA? https://foresightnews.pro/article/detail/52019 Disclaimer 1. The author of this report and his organization do not have any relationship that affects the objectivity, independence, and fairness of the report with other third parties involved in this report. 2. The information and data cited in this report are from compliance channels. The sources of the information and data are considered reliable by the author, and necessary verifications have been made for their authenticity, accuracy and completeness, but the author makes no guarantee for their authenticity, accuracy or completeness. 3. The content of the report is for reference only, and the facts and opinions in the report do not constitute business, investment and other related recommendations. The author does not assume any responsibility for the losses caused by the use of the contents of this report, unless clearly stipulated by laws and regulations. Readers should not only make business and investment decisions based on this report, nor should they lose their ability to make independent judgments based on this report. 4. The information, opinions and inferences contained in this report only reflect the judgments of the researchers on the date of finalizing this report. In the future, based on industry changes and data and information updates, there is the possibility of updates of opinions and judgments. 5. The copyright of this report is only owned by HTX Ventures. If you need to quote the content of this report, please indicate the source. If you need a large amount of references, please inform in advance (see “About HTX Ventures” for contact information) and use it within the allowed scope. Under no circumstances shall this report be quoted, deleted or modified contrary to the original intent. Contact Details Michael wang glo-media@htx-inc.com Company Website https://www.htx.com/en-us/ventures

March 05, 2024 03:17 AM Eastern Standard Time

Image
Article thumbnail News Release

Jewish News Syndicate Commentary: Anti-Defamation League ‘Smeared’ National Legal and Policy Center

NLPC

In an opinion piece distributed by the Jewish News Service titled, “When Will the ADL Start Fighting Antisemitism on the Left?, Elle Krasne-Cohen has come to the defense of National Legal and Policy Center (NLPC). She points to the Anti-Defamation League’s embrace of causes like Black Lives Matter and juxtaposes it with an incident closer to home for NLPC: More recently, the ADL smeared two mainstream policy organizations—the National Center for Public Policy Research (NCPPR) and the National Legal and Policy Center (NLPC)—accusing them without evidence of antisemitism. The ADL claimed that mere criticism of “globalism” or “globalist organizations,” including the antisemitic United Nations, is an “antisemitic dog whistle.” Krasne-Cohen continues: The NCPPR and NLPC are mainstream organizations, neither of which, to my knowledge, has displayed antipathy towards Jews or any other racial or religious minority. The smear was in the form of a posting on the ADL website on November 21 titled “Conspiracy Theories, Some With Antisemitic Roots, Crop Up in 2023 Shareholder Proposals.” The post appeared only six weeks after the October 7 Hamas terrorist attack, while antisemitic incidents and demonstrations were exploding worldwide. Why the ADL would devote time and resources to attacking NLPC, which has a long history of fighting antisemitism, was completely baffling to us. Equally baffling, the hit piece was dropped as the Thanksgiving holiday was getting underway. It was almost as if the ADL wanted the story out but didn’t want anyone to report it. The strategy, if it existed, worked because no one else covered it. Even more weirdly, the post itself carried this all-purpose disclaimer that tended to negate the impression that every other word of the post was calculated to create: At this time, there is no evidence to suggest that either organization’s agents espouse overt antisemitism, or that these proposals were filed with antisemitic intentions. So what is going on here? What was behind the attempted smear of NLPC and our ally, the National Center for Public Policy Research? Could it be that the ADL just doesn’t like us filing shareholder proposals, a form of activism dominated for many years by the Left? Krasne-Cohen and a number of other Jewish commentators and activists are making this case that the ADL, under the “leadership” of former Obama White House staffer Jonathan Greenblatt, has devolved into an ideological and partisan tool. ADL’s hit and run on NLPC was actually quite clever. Even if no one paid any attention to it when it was published, whoever wrote it (the piece is unsigned) sought to plant it on the internet for anyone to find for years to come. Any journalist seeking to discredit us can now simply describe NLPC as a “group that, according to the ADL, promotes antisemitic conspiracy theories.” It was a nice try but it is not going to work. NLPC’s track record of fighting antisemitism over many years is just too strong. Indeed, while the ADL has been sanitizing antisemitism by partnering with the likes of Al Sharpton, NLPC has been consistent, resolute and effective. To wit: Ben & Jerry’s - When the Unilever subsidiary Ben and Jerry’s announced in 2021 that it would end ice cream sales in “Occupied Palestinian Territory,” NLPC swung into action, launching the StopBenandJerrys.org website. In September 2021, NLPC filed a Complaint with the Internal Revenue Service (IRS) against Anuradha Mittal, the anti-Israel chair of the Ben & Jerry’s board of directors. A few weeks later, she was named 2021 “Antisemite of the Year” by the website StopAntisemitism.org. Mittal appeared to have violated laws governing self-dealing by acting as a trustee of the Ben & Jerry’s Foundation while approving donations to her personal nonprofit where she is executive director taking a full-time salary. Also, the president of Ben & Jerry’s charitable foundation, Jeff Furman, steered more than $100,000 of its funds to his own nonprofit organization. In the wake of October 7 Hamas attack, Flaherty wrote an op-ed titled, “Unilever, Ice Cream and Antisemitism.” Unilever Divestment - NLPC was a proponent of Unilever divestment efforts in New York, New Jersey, North Carolina and Virginia. From the September 16, 2021, New York Times: “We are doing this because somebody has to hold the independent board of Ben & Jerry’s accountable for their anti-Semitic use of their platform and company resources,” said Tom Anderson, a director of the National Legal and Policy Center. NLPC collaborated with activist investor Michael Asher in support of Unilever divestment by New York State and New York City. In Virginia, Flaherty met with State Attorney General Jason Miyares and urged him to seek divestment of state funds from Unilever. In North Carolina, NLPC asked Treasurer Dale Folwell requesting divestiture of Unilever holdings in public pension funds. Black Lives Matter & Patrisse Cullors - As a result of original NLPC research, Black Lives Matter Global Network Foundation co-founder Patrisse Cullors was forced to resign from the group in 2021. NLPC’s allegations, detailed in a Complaint to the IRS, related to her purchase of four pieces of real estate, and apparent self-dealing and inurnment. NLPC has also emphasized Cullors’ 2015 call at Harvard Law School for individuals to “step up boldly and courageously to end the imperialist project that’s called Israel.” NLPC was early in reporting about Black Lives Matter’s (BLM) links to anti-Israel groups. In 2016, Carl Horowitz, then a member of the NLPC staff, wrote a website post titled “Black Lives Matter Activists Join Anti-Israel Boycott.” Following October 7, NLPC asked Visa, Inc. to remove its BLM endorsement from its website and condemn Hamas and antisemitism. We had raised the BLM issue earlier in the year at the company’s shareholders’ meeting. NLPC had also raised the issue of Coca-Cola’s support for BLM at the company’s annual meeting. ADL’s Omar Resolution - NLPC has been a persistent critic of Reps. Alexandria Ocasio-Cortez, Ilhan Omar, and Rashida Talib. While we have cited financial irregularities in a Federal Election Commission complaint against Ocasio-Cortez and a House Ethics Committee complaint against Omar, NLPC has also criticized hostility to Jews by these members. In 2019, NLPC endorsed and publicized the ADL-initiated House resolution condemning Omar. See this op-ed titled “Antisemitism and Islamophobia: No Moral Equivalence” by Horowitz. Foreign Funding of U.S. Higher Education - The recent spate of on-campus antisemitic incidents has shed light an issue on foreign financial support for American colleges and universities, an issue that NLPC has investigated and publicized for several years. See this column by Charles Gasparino that extensively quotes NLPC Counsel Paul Kamenar. Al Sharpton - Whereas the present leadership of the ADL has sought to erase Sharpton’s past, NLPC will not forget his incitements in the 1991 Crown Heights riots, in which a Jew was murdered, nor will we forgive his dangerous statements, such as “If the Jews want to get it on, tell them to pin their yarmulkes back and come over to my house.” Sharpton was fined $285,000 in 2005 by the Federal Election Commission as a result of an NLPC Complaint for running an “off the books” presidential campaign. For several years, NLPC raised the issue of support for Sharpton’s National Action Network (NAN) at the shareholders’ meetings of American corporations, including PepsiCo, Anheuser-Busch and Colgate-Palmolive. Unlike the ADL, NLPC has never used the fight against antisemitism as a partisan weapon. In 2010, NLPC objected to the sponsorship of Sharpton’s National Action Network annual meeting by the Republican National Committee (RNC) and the participation of then-RNC Chairman Michael Steele. In 2009, NLPC asked former House Speaker Newt Gingrich to end his partnership with Sharpton in a campaign for “education reform.” That same year, NLPC criticized then-President George W. Bush for praising Sharpton. Jesse Jackson - In 2005, the New York Stock Exchange ended its financial support for Jackson’s Citizenship Education Fund, in response to a demand by NLPC that cited Jackson’s 1984 “hymie” and “Hymietown” comments, as well as financial improprieties involving the Fund. And if none of this is good enough for the ADL, it should be noted that NLPC has many Jewish supporters, including prominent individuals and former government officials, several of whom serve on the boards of local and national Jewish organizations. From 2001 to the time of his death in 2019, Edward M. Ackerman of Dallas was a key advisor and major donor to NLPC. His legacy is carried on today by NLPC and the Ackerman Center for Holocaust Studies at the University of Texas at Dallas. The ADL itself has partnered with the Ackerman Center. Founded in 1991, the National Legal and Policy Center promotes ethics in public life through research, investigation, education and legal action. Contact Details National Legal and Policy Center Dan Rene +1 202-329-8357 drene@nlpc.org Company Website http://www.nlpc.org

March 04, 2024 03:02 PM Eastern Standard Time

Article thumbnail News Release

TRON DAO at ETH Denver and Host of TRON Builder Tour Denver Stop

TRON DAO

Geneva, Switzerland, March 4, 2024 – The TRON DAO team attended ETH Denver, one of the leading events in the blockchain space. In conjunction with this, the TRON Builder Tour (TBT) ETH Denver event unfolded, drawing enthusiasts into the dynamic world of the TRON ecosystem with an event packed with insights, networking, and more. At ETH Denver in the BUIDL HUB venue, four members of the TRON DAO team attended the ETH Denver event as mentors.The mentors offered support to many developers and entrepreneurs across a wide range of disciplines ranging from technical support, business or ecosystem development, UI/UX design, and more. Mentors led a Skills Lab at the ETH Denver BUIDL Hub on how to use AI to quickly create and deploy smart contracts on BTTC and other EVM networks.The mentoring allowed the TRON DAO to connect closer with the broader blockchain community, giving them an opportunity to learn about what is being built in the web3 space. Feb 28th, the TRON Builder Tour event at ETH Denver offered a deep dive into TRON's ecosystem, featuring tasty treats and food, educational sessions, and networking opportunities. With nearly 100 attendees, the event brought together blockchain enthusiasts, developers, and students: all celebrating the TRON network. Co-host of the event Arkham Intelligence, a crypto intelligence platform, providing attendees with a unique perspective on digital asset markets and the benefits of the TRON network. The HackaTRON Season 6 event was also highlighted, which began February 20th. The online hackathon contains a total prize pool of up to $650,000* in Energy support and TRON network’s native utility token, TRX; this hackathon encourages developers to create dApps that can enhance the TRON network's user experience and push the blockchain space forward. Participants are encouraged to apply today on our official DevPost page. *All prizes are issued in TRX or TRON network Energy, not USD, restrictions applied. All contest rules can be viewed here: https://trons6.devpost.com/rules The evening concluded with indoor bar networking, allowing attendees to forge valuable connections within the TRON community. Through its participation at ETH Denver and the hosting of the TRON Builder Tour event, TRON DAO reinforced its dedication to advancing the blockchain industry. About TRON DAO TRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps. Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of January 2023, it has over 205.11 million total user accounts on the blockchain, more than 6.96 billion total transactions, and over $20.43 billion in total value locked (TVL), as reported on TRONSCAN. In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens - TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country. TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | Forum Media Contact Hayward Wong press@tron.network Contact Details Hayward Wong press@tron.network Company Website https://trondao.org/

March 04, 2024 12:37 PM Eastern Standard Time

Image
Article thumbnail News Release

Mercury/13 unveils first portfolio club in Europe: Como Women from Serie A Femminile

500NewsWire

To watch the live announcement from Lake Como, go to Mercury/13.com at 6:30 PM CET. Lake Como, Italy, March 4th, 2024 - ( 500NewsWire ) -- In a landmark deal, Mercury/13 - a women’s football multi-club ownership group led by Victoire Cogevina Reynal and Mario Malavé - has announced the acquisition of a controlling stake in Como Women, a professional women’s football club competing in Italy’s Serie A Femminile eBay. This groundbreaking development signifies Mercury/13's inaugural portfolio club, and an important step in their vision to redefine football club ownership by embracing a massive yet overlooked audience: women. Under the leadership of Mercury/13, Como Women aims to propel itself to global recognition in women's football as it enters an exciting new chapter. The club's remarkable ascent from Serie C to the pinnacle of Italian professional women's football is a testament to the work of the club’s existing owners and validation for the viability of independent women clubs in Europe. Stefano Verga, who’s led Como Women since the team’s inception, will remain as club President and shareholder, alongside pre-existing owners Simone Verga, Manuela Colombo, and Cristian Larghi. Mercury/13’s co-founders and co-CEOs, Ms. Cogevina Reynal and Mr. Malave will join the club’s board of directors, alongside Mr. Verga. "For years, I've dreamed of this club having what it truly deserves. Since I met Victoire and Mario, I've been fascinated by their vision and determination they have to transform women's football. It has brought me great joy and pride that a group with the calibre of talent of Mercury/13’s has chosen us as their first investment. For many years, I've held this dream in my mind, and I see in this project the opportunity for us all to come together and take the team to the top of European football. I'm excited to welcome them in Como and I anticipate great things from this partnership,” said Mr. Verga The club will continue operating from its current facility, and remain deeply rooted within the local communities of Seregno, Cislago, and Como. Comprising a roster of talented young and seasoned players, the team rivals against renowned clubs such as AC Milan, Juventus, and AS Roma in the Italian championship, with the aspiration to continue improving with each new season. Italy's illustrious football heritage and vast potential for women's football development, as well as the iconic location of the club presents a compelling opportunity. Through close collaboration with the club's staff and sporting personnel, Mercury/13 aims to help transform Como Women into one of Europe's foremost clubs, providing a nurturing environment for players to flourish in their careers on and off the pitch. “We’re thrilled by the opportunity to take this club to the next level, and we’re looking forward to embed ourselves into the local community and build the next chapter of this club with them, the new fans, and the millions of international tourists that visit Lake Como every year. All of them will have a new reason to come and visit this top European destination: watch and support women playing football at the highest level, " said Victoire Cogevina Reynal. Central to this vision is the pursuit of strategic commercial partnerships that recognize the pivotal role of women's football in advancing gender equality on a global scale, with the intention of welcoming the other half of the globe into a sport that often excludes them. “Through innovative partnerships with forward looking sponsors, we are determined to transform Como Women into a symbol of empowerment and celebration of women in Italy and beyond. Through football we are confident we can become a paradigm of success and an important example of what happens when society gives women the place and the opportunities they deserve.” said Ms. Cogevina Reynal, also known for her activism with the United Nations and several non-profits in the gender equality fight. “When we first met Mr. Verga, now our partner, we were immediately inspired by his journey and by his ambition to take the club to new heights” said Mario Malavé. “We’ve been impressed with the calibre of talent here (on and off the pitch) and we’re very energised to contribute to the growth of women’s football in Italy. This club has been built with the support of incredible local partners who have backed the team and helped it get to where it is today. We’re invigorated to extend our partnerships with them in this next chapter of growth” Mr. Malave said. The new ownership group wishes to recognise the dedication and professionalism of Deloitte and Sidley Austin LLP as they served as their legal counsel in this historic transaction. About the Italian Football Market Italian women's football has grown enormously in the last decade, in 2022, the Serie A Femminile eBay officially became a professional league, and the number of young female players between 10 and 15 years rose by an astonishing 105% between 2010 and 2022, According to the 2023 Italian Football Federation (FIGC) ReportCalcio, they had 36,552 female players officially registered in 2022, stating that 20% of the country's population supports women's football and counting. Also, the Serie A Femminile TV audience in 2021-2022 increased by 142% compared to the previous season, and then an extra 7% in 2022-23 thanks to the newly available free TV broadcast. The commercial value of women's football in Italy is projected to grow to 46.7 million euros in 2033 via ticketing, sponsorship, and media. Source: 2023 ReportCalcio - FIGC About Como Women S.S.D F.C Como Women was founded in 2020 by President Stefano Verga under the sporting title of Riozzese Como. However, the roots of women's football in Como trace back to 1997 with the establishment of Como 2000, evolving into A.C.F. Como. In 2020, they couldn’t register for the championship, opening the door for the new Riozzese Como. After a full rebranding in 2021, the club became the current FC Como Women.The club secured every category promotion until achieving a historic jump to Serie A, the female Italian first division, in 2021/22. This notable achievement coincided with the inaugural season of professionalism in Italian women's football. Now, FC Como Women stands at the 7th table position in the 2023/24 season, hosting its home matches at the Ferruccio Stadium in Seregno and training at the Sport Village in Cislago. In addition to the first team's success, FC Como Women encompasses a thriving youth academy, including U19, U17, U15, U12, and U11 categories. About Mercury/13 Mercury/13 is a multi-club ownership group focused on acquiring controlling stakes in professional women's football teams in Europe and Latin America. The group aims to invest 100 million dollars in women’s football over the coming years. The vision is to become the industry standard of women’s football ownership, by identifying and investing in the next decade’s super clubs and fueling their commercial power to attract a massive, yet underserved, market: women. The group's acquisition strategy is based on the fundamental principle that women's football is a different game, and fans want a different experience. The group is made up of seasoned executives with successful track records in sport, investment, and technology. The founding team is positioned with unique backgrounds, experience, and skills to become the main player in this space: Luis Vicente, former FIFA Chief Innovation Officer, Eniola Aluko MBE, ex Chelsea & England National Team and former founding Sporting Director of Aston Villa women & Angel City FC. Ebru Koksal, former CEO and Board Member of Turkish football club Galatasaray’s and currently the chair of Women in Football, as well as Michael Broughton who co-founded Sports Innovation Partners and has over 22 years of sports experience with deep expertise in media and operations. To complete the list, is Brigit Lee, a tech executive currently with Sony PlayStation and formerly at Amazon and Best Buy. Lee counts 25 years of experience working with both start-ups and large companies to forge global, strategic partnerships and to build out new, innovative commercial business models. The history of the name The name Mercury/13 is a tribute to the 13 women who were not allowed to work for NASA on the basis of their gender back in 1960. The program that would carry a spacecraft manned only by women was cancelled in 1961. The authorities at the time did not believe that women alone could achieve the goal. Lake Como as a top destination As the Italian club embarks on its transformative journey, supported by partners, fans, and the global football community, it aims to become a beacon of excellence in women's football, drawing visitors to one of Europe's most captivating destinations. Nestled in northern Italy, Lake Como is celebrated for its stunning natural beauty and charming towns. Surrounded by steep wooded hillsides, the lake's picturesque shoreline is adorned with elegant villas dating back centuries, offering breathtaking views of the Alps. Renowned for its mild climate and tranquil atmosphere, Lake Como attracts visitors year-round for outdoor activities and cultural exploration. From boating and hiking to exploring historic sites and indulging in local cuisine, there's something for everyone to enjoy amidst the region's timeless beauty. Lake Como's allure extends beyond its natural splendour; it has long been a magnet for the rich and famous, with notable celebrities such as George Clooney, Madonna, Sir Richard Branson, Donatella Versace, Cristiano Ronaldo, and Sir Elton John having chosen to reside or vacation in its idyllic surroundings. Their presence adds to the area's cosmopolitan charm, making Lake Como a premier destination for travellers seeking a blend of luxury, culture, and natural beauty. Contact Details Alejandra Depalma, CCO Mercury/13 +1 305-733-1313 alejandra@mercury13.com

March 04, 2024 12:30 PM Eastern Standard Time

Image
Article thumbnail News Release

Roberts & Ryan Inc. Joins NYSE and Welcomes the Mark J. Muller Equities Team to Strengthen Its Equity Trading Operations.

Roberts & Ryan, Inc.

Roberts & Ryan Inc., a Veteran Owned broker-dealer, is delighted to announce it has been approved for membership by the New York Stock Exchange and began operating today on the iconic NYSE trading floor. In conjunction with this milestone, the firm proudly introduces the esteemed Mark J. Muller Equities trading team to its floor operation. Comprising seasoned professionals including Mark Muller and Robert Moran, the team brings a wealth of experience and expertise to Roberts & Ryan Inc. The addition of the Mark J. Muller Equities trading team to the firm's already robust equity trading platform serves to fortify Roberts & Ryan's capabilities, reinforcing the company's commitment to anticipating and addressing client needs and concerns. Membership at the NYSE will empower the firm to harness broader liquidity pools, achieve parity in situational trading, and access real-time insights from point-of-sale access. These synergies, combined with Roberts & Ryan's existing institutional trading operation, will enhance the company's ability to serve equity clients effectively. Additionally, Roberts & Ryan will be well-positioned to assist clients during key price discovery events on the NYSE Floor, such as IPOs and secondary offerings. Founded on the core value of prioritizing competence, Roberts & Ryan Inc. places client satisfaction at the forefront of its operations. As a Veteran-Owned firm with the requisite certifications to fulfill all DEI mandates and set-asides, the company is dedicated to its social mission. A portion of all commission dollars earned is donated to foundations supporting Veterans and other deserving charities. Since 2018, this initiative has generated over $1.8 million in charitable contributions, benefiting more than 800 Veterans and their families. The combination of competency, diversity, and charity has enabled Roberts & Ryan Inc. to make a meaningful impact in the community. When asked to share his thoughts, Mark Muller, Managing Director of Roberts & Ryan's NYSE Floor Operations, remarked, "The Muller team is excited to be part of the Roberts & Ryan family, a firm that not only provides great service to its clients, but also supports our nation's Veterans and disadvantaged young adults. With our shared vision and commitment to excellence, we will continue to provide value-added executions from the floor of the NYSE." "With these strategic developments, Roberts & Ryan Inc. is poised to deliver enhanced services and value to our clients while upholding our commitment to excellence, integrity, and social responsibility," said Edward D'Alessandro, Chief Executive Officer of Roberts & Ryan, Inc. About Roberts and Ryan, Inc. Roberts & Ryan, Inc. is a Service-Disabled Veteran Owned (SDVO) broker-dealer with execution capabilities in the capital markets, equities, and fixed-income trading. The firm was founded in 1987 by a United States Marine Corps Vietnam combat veteran and Purple Heart recipient. With over $1.8 million in committed donations, Roberts & Ryan is active in donating to charitable foundations that make significant positive impacts in the lives of Veterans and their families, focusing primarily on general wellness, mental health, and career transition. To learn more about Roberts & Ryan, please visit www.roberts-ryan.com. Contact Details Roberts & Ryan, Inc. Sadie Millard, Chief Administrative Officer +1 646-542-0012 smillard@roberts-ryan.com Company Website https://www.roberts-ryan.com

March 04, 2024 12:00 PM Eastern Standard Time

Image
Article thumbnail News Release

NASBP and SFAA Host Successful 2024 Legislative “Fly-In”

SFAA

The National Association of Surety Bond Producers (NASBP) and The Surety & Fidelity Association of America (SFAA) hosted a Legislative Fly-In on February 29, 2024. The Fly-In enabled surety professionals from across the country to educate members of Congress and staff about the value of construction surety bonds and advocate for their legislative priorities. Their meetings focused on expanding support for H.R. 1740 and S.2928, which would strengthen the Water Infrastructure Finance and Innovation Act (WIFIA) program by ensuring all projects financed with WIFIA assistance have appropriate bonding, regardless of delivery method. In addition, Fly-In participants discussed adding common-sense surety protection in the form of bonding requirements to the principal federal funding programs for broadband infrastructure projects. The meetings allowed NASBP and SFAA members to demonstrate their strong support for H.R. 1740 and S.2928, clarifying the bonding requirements under WIFIA, including Public-Private Partnership (P3) projects. “This legislation ensures the economic value that surety bonds provide through reduced contractor pricing, reduced default rates, and increased project performance are realized and would maintain parity with the Transportation Infrastructure Finance and Innovation Act (TIFIA) amendment, which passed the Senate with a unanimous 97-0 vote,” said Patrick Russell SFAA Director of Government Affairs. Mark McCallum, NASBP CEO, stated, “WIFIA is a key financing vehicle for undertaking the water infrastructure projects so badly needed throughout the United States, and making certain that U.S. taxpayer investments in the form of WIFIA loans and grants are protected through performance and payment bond guarantees is vital to realizing that these long overdue projects will be completed and that those supplying labor and materials will be paid.” NASBP and SFAA members also discussed the need for Congress to safeguard federal infrastructure investments in broadband projects. The Infrastructure Investment & Jobs Act (IIJA) allocated $42.5 billion to broadband expansion through the National Telecommunications and Information Administration’s (NTIA) Broadband Equity, Access, and Deployment (BEAD) Program. Originally calling for a Letter of Credit, NTIA recently released a waiver to the BEAD program, allowing surety as an alternative security option. NASBP and SFAA members used their time on Capitol Hill to update policymakers on the critical shift and inform them of the need for other federal agencies involved in broadband infrastructure, including programs administered by the U.S. Department of Agriculture and the FCC, to adopt similar practices. In over 100 meetings, construction bonding experts met with their elected representatives and their staff to educate them on surety bonds' significant role in advancing and protecting public infrastructure projects. These vital safeguards on construction projects for public entities include protecting taxpayers’ dollars, ensuring project completion, protecting local small business contractors and workers, preserving construction jobs, and promoting economic growth. A recent study by Ernst & Young (EY), The Economic Benefits of Surety Bonds, quantifies these vital protections and concludes bonded projects outperform unbonded projects because of lower default rates, cost and time savings, and other risk mitigation benefits. SFAA Contact: Peter Roth, Co-Managing Director (Interim) Vice President – Communications, Marketing & Research Phone: (703) 401-0676 | E-mail: proth@surety.org NASBP Contact: Kathy Hoffman, Director of Communications Phone: (240) 200-1278 | E-mail: khoffman@nasbp.org ### The Surety & Fidelity Association of America (SFAA) is a trade association of more than 425 insurance companies that write 98 percent of surety and fidelity bonds in the U.S. SFAA is licensed as a rating or advisory organization in all states. State insurance departments have designated it as a statistical agent for reporting fidelity and surety experience. www.surety.org Founded in 1942, the National Association of Surety Bond Producers (NASBP) is the association of and resource for surety bond producers and allied professionals. NASBP members specialize in providing surety bonds for construction contracts and other purposes to companies and individuals needing the assurance offered by surety bonds. www.nasbp.org The Surety & Fidelity Association of America (SFAA) is a nonprofit, nonpartisan trade association representing all segments of the surety and fidelity industry. Based in Washington, D.C., SFAA works to promote the value of surety and fidelity bonding by proactively advocating on behalf of its members and stakeholders. The association’s more than 425 member companies write 98 percent of surety and fidelity bonds in the U.S. For more information visit www.surety.org. Contact Details Peter Roth +1 703-401-0676 proth@surety.org Company Website https://surety.org/

March 04, 2024 11:55 AM Eastern Standard Time

Article thumbnail News Release

Babson College Announces Accomplished Entrepreneurs as 2024 Commencement Speakers

Babson College

Arthur M. Blank ’63, H’98, co-founder of The Home Depot and owner of the NFL’s Atlanta Falcons and MLS’s Atlanta United FC, will deliver the undergraduate Commencement address   Father-daughter entrepreneurs Eric Johnson ’72, P’08, Chairman of Baldwin Richardson Foods, and Erin Tolefree, President and CEO of Baldwin Richardson Foods, will deliver Babson’s first joint Commencement address during the graduate ceremony   Babson College will honor the extraordinary achievements of the Class of 2024 on Saturday, May 11 on the Wellesley campus in its 105th undergraduate and 72nd graduate Commencement ceremonies. Approximately 700 undergraduate students and 650 graduate students will receive their degrees.   Arthur M. Blank, ’63, H’98, co-founder of The Home Depot and owner of the NFL’s Atlanta Falcons and MLS’s Atlanta United FC, will serve as this year’s undergraduate Commencement speaker. Eric Johnson ’72, P’08, Chairman of Baldwin Richardson Foods and Babson Trustee, and his daughter, Erin Tolefree, President and CEO of Baldwin Richardson Foods, will make history as Babson’s first joint Commencement speakers in the Graduate ceremony.   Blank has had a transformative impact on entrepreneurship education in the Babson community. In 2019, a $50 million gift by Blank and The Arthur M. Blank Family Foundation created The Arthur M. Blank School for Entrepreneurial Leadership, a first-of-its-kind hub that empowers the Babson College community to lead change, solve global problems, and create sustainable value across business and society. This year marks the graduation of the inaugural cohort of the Arthur M. Blank Leadership Scholars, a program launched with the creation of the Blank School.   A longtime Babson supporter, Blank’s generosity and belief in the power of a values-driven entrepreneurial mindset helped launch The Arthur M. Blank Center for Entrepreneurship, which celebrated its 25th anniversary this fall. The Blank Center promotes the exchange of innovative ideas that shape the future of entrepreneurship through research and thought leadership initiatives.   Johnson has long been a passionate supporter of Babson and a believer in the power of entrepreneurship. As a student, he founded Babson’s Black Student Union (BSU) in 1970, and the BSU’s living space, the Johnson House, is named in his honor. His and his family’s ongoing generosity has led to the establishment of vital campus resources like the Baldwin Richardson Foods Term Chair, the Johnson Family Term Chair, and the Baldwin Richardson Foods Scholars Programs.   Tolefree has spent much of her professional career at Baldwin Richardson Foods, continuing her family’s multi-generational commitment to family entrepreneurship. She assumed the role of Baldwin Richardson Foods’ President in 2020 and was named CEO in 2023. Her people-first leadership and management skills helped the company navigate significant supply chain challenges during the COVID-19 pandemic, and her strong leadership has helped the company achieve substantial growth and expansion of a new state-of-the-art production line.   “Arthur, Eric, and Erin are exemplary entrepreneurial leaders. It is an honor to have such distinguished leaders deliver our undergraduate and graduate Commencement addresses, and we are looking forward to welcoming our first joint speakers to the podium,” said President Stephen Spinelli Jr. MBA’92, Ph.D. “Bringing inspiring leaders like these to campus ensures that Babson continues to be at the forefront of entrepreneurial education and thought leadership.”   Babson also will award four honorary degrees during the ceremonies. Kerry Murphy Healey, Babson’s 13th president and former Massachusetts Lieutenant Governor, will receive an Honorary Doctor of Humane Letters at the undergraduate ceremony. During her presidency, Healey led efforts to increase Babson’s international profile, championed women entrepreneurs, and oversaw a substantial $200 million renewal of Babson’s Wellesley campus.   Harry Susilo P’96, G’24 ’26, founder and chairman of the Sekar Group, also will receive an Honorary Doctor of Humane Letters during the undergraduate ceremony. Susilo founded the Sekar Group of Companies, an Indonesia-based international conglomerate focusing on food production, property, and mining, in 1966. He is a member of Babson’s Academy of Distinguished Entrepreneurs® and both a parent of Babson alumna and a grandparent of members of the class of 2024 and 2026.   In addition to delivering the Commencement address, Johnson and Tolefree each will receive an Honorary Doctorate of Humane Letters during the graduate ceremonies.   To learn more about Babson’s undergraduate and graduate Commencement ceremonies, visit the Babson 2024 Commencement website.   About Babson College Babson College prepares and empowers entrepreneurial leaders who create, grow, and steward sustainable economic and social value everywhere. We shape the entrepreneurial leaders our world needs most: those with strong functional knowledge, skills, and vision to navigate change, accommodate ambiguity, surmount complexity, and motivate teams in organizations of all types and sizes. An international leader in entrepreneurship education recognized globally by U.S. News & World Report, our undergraduate, graduate, executive programs, and partnership opportunities are tailored to the needs of our world.

March 04, 2024 11:29 AM Eastern Standard Time

Article thumbnail News Release

Jewish News Syndicate Commentary: Anti-Defamation League ‘Smeared’ National Legal and Policy Center

NLPC

In an opinion piece distributed by the Jewish News Service titled, “When Will the ADL Start Fighting Antisemitism on the Left?, Elle Krasne-Cohen has come to the defense of National Legal and Policy Center (NLPC). She points to the Anti-Defamation League’s embrace of causes like Black Lives Matter and juxtaposes it with an incident closer to home for NLPC: More recently, the ADL smeared two mainstream policy organizations—the National Center for Public Policy Research (NCPPR) and the National Legal and Policy Center (NLPC)—accusing them without evidence of antisemitism. The ADL claimed that mere criticism of “globalism” or “globalist organizations,” including the antisemitic United Nations, is an “antisemitic dog whistle.” Krasne-Cohen continues: The NCPPR and NLPC are mainstream organizations, neither of which, to my knowledge, has displayed antipathy towards Jews or any other racial or religious minority. The smear was in the form of a posting on the ADL website on November 21 titled “Conspiracy Theories, Some With Antisemitic Roots, Crop Up in 2023 Shareholder Proposals.” The post appeared only six weeks after the October 7 Hamas terrorist attack, while antisemitic incidents and demonstrations were exploding worldwide. Why the ADL would devote time and resources to attacking NLPC, which has a long history of fighting antisemitism, was completely baffling to us. Equally baffling, the hit piece was dropped as the Thanksgiving holiday was getting underway. It was almost as if the ADL wanted the story out but didn’t want anyone to report it. The strategy, if it existed, worked because no one else covered it. Even more weirdly, the post itself carried this all-purpose disclaimer that tended to negate the impression that every other word of the post was calculated to create: At this time, there is no evidence to suggest that either organization’s agents espouse overt antisemitism, or that these proposals were filed with antisemitic intentions. So what is going on here? What was behind the attempted smear of NLPC and our ally, the National Center for Public Policy Research? Could it be that the ADL just doesn’t like us filing shareholder proposals, a form of activism dominated for many years by the Left? Krasne-Cohen and a number of other Jewish commentators and activists are making this case that the ADL, under the “leadership” of former Obama White House staffer Jonathan Greenblatt, has devolved into an ideological and partisan tool. ADL’s hit and run on NLPC was actually quite clever. Even if no one paid any attention to it when it was published, whoever wrote it (the piece is unsigned) sought to plant it on the internet for anyone to find for years to come. Any journalist seeking to discredit us can now simply describe NLPC as a “group that, according to the ADL, promotes antisemitic conspiracy theories.” It was a nice try but it is not going to work. NLPC’s track record of fighting antisemitism over many years is just too strong. Indeed, while the ADL has been sanitizing antisemitism by partnering with the likes of Al Sharpton, NLPC has been consistent, resolute and effective. To wit: Ben & Jerry’s - When the Unilever subsidiary Ben and Jerry’s announced in 2021 that it would end ice cream sales in “Occupied Palestinian Territory,” NLPC swung into action, launching the StopBenandJerrys.org website. In September 2021, NLPC filed a Complaint with the Internal Revenue Service (IRS) against Anuradha Mittal, the anti-Israel chair of the Ben & Jerry’s board of directors. A few weeks later, she was named 2021 “Antisemite of the Year” by the website StopAntisemitism.org. Mittal appeared to have violated laws governing self-dealing by acting as a trustee of the Ben & Jerry’s Foundation while approving donations to her personal nonprofit where she is executive director taking a full-time salary. Also, the president of Ben & Jerry’s charitable foundation, Jeff Furman, steered more than $100,000 of its funds to his own nonprofit organization. In the wake of October 7 Hamas attack, Flaherty wrote an op-ed titled, “Unilever, Ice Cream and Antisemitism.” Unilever Divestment - NLPC was a proponent of Unilever divestment efforts in New York, New Jersey, North Carolina and Virginia. From the September 16, 2021, New York Times: “We are doing this because somebody has to hold the independent board of Ben & Jerry’s accountable for their anti-Semitic use of their platform and company resources,” said Tom Anderson, a director of the National Legal and Policy Center. NLPC collaborated with activist investor Michael Asher in support of Unilever divestment by New York State and New York City. In Virginia, Flaherty met with State Attorney General Jason Miyares and urged him to seek divestment of state funds from Unilever. In North Carolina, NLPC asked Treasurer Dale Folwell requesting divestiture of Unilever holdings in public pension funds. Black Lives Matter & Patrisse Cullors - As a result of original NLPC research, Black Lives Matter Global Network Foundation co-founder Patrisse Cullors was forced to resign from the group in 2021. NLPC’s allegations, detailed in a Complaint to the IRS, related to her purchase of four pieces of real estate, and apparent self-dealing and inurnment. NLPC has also emphasized Cullors’ 2015 call at Harvard Law School for individuals to “step up boldly and courageously to end the imperialist project that’s called Israel.” NLPC was early in reporting about Black Lives Matter’s (BLM) links to anti-Israel groups. In 2016, Carl Horowitz, then a member of the NLPC staff, wrote a website post titled “Black Lives Matter Activists Join Anti-Israel Boycott.” Following October 7, NLPC asked Visa, Inc. to remove its BLM endorsement from its website and condemn Hamas and antisemitism. We had raised the BLM issue earlier in the year at the company’s shareholders’ meeting. NLPC had also raised the issue of Coca-Cola’s support for BLM at the company’s annual meeting. ADL’s Omar Resolution - NLPC has been a persistent critic of Reps. Alexandria Ocasio-Cortez, Ilhan Omar, and Rashida Talib. While we have cited financial irregularities in a Federal Election Commission complaint against Ocasio-Cortez and a House Ethics Committee complaint against Omar, NLPC has also criticized hostility to Jews by these members. In 2019, NLPC endorsed and publicized the ADL-initiated House resolution condemning Omar. See this op-ed titled “Antisemitism and Islamophobia: No Moral Equivalence” by Horowitz. Foreign Funding of U.S. Higher Education - The recent spate of on-campus antisemitic incidents has shed light an issue on foreign financial support for American colleges and universities, an issue that NLPC has investigated and publicized for several years. See this column by Charles Gasparino that extensively quotes NLPC Counsel Paul Kamenar. Al Sharpton - Whereas the present leadership of the ADL has sought to erase Sharpton’s past, NLPC will not forget his incitements in the 1991 Crown Heights riots, in which a Jew was murdered, nor will we forgive his dangerous statements, such as “If the Jews want to get it on, tell them to pin their yarmulkes back and come over to my house.” Sharpton was fined $285,000 in 2005 by the Federal Election Commission as a result of an NLPC Complaint for running an “off the books” presidential campaign. For several years, NLPC raised the issue of support for Sharpton’s National Action Network (NAN) at the shareholders’ meetings of American corporations, including PepsiCo, Anheuser-Busch and Colgate-Palmolive. Unlike the ADL, NLPC has never used the fight against antisemitism as a partisan weapon. In 2010, NLPC objected to the sponsorship of Sharpton’s National Action Network annual meeting by the Republican National Committee (RNC) and the participation of then-RNC Chairman Michael Steele. In 2009, NLPC asked former House Speaker Newt Gingrich to end his partnership with Sharpton in a campaign for “education reform.” That same year, NLPC criticized then-President George W. Bush for praising Sharpton. Jesse Jackson - In 2005, the New York Stock Exchange ended its financial support for Jackson’s Citizenship Education Fund, in response to a demand by NLPC that cited Jackson’s 1984 “hymie” and “Hymietown” comments, as well as financial improprieties involving the Fund. And if none of this is good enough for the ADL, it should be noted that NLPC has many Jewish supporters, including prominent individuals and former government officials, several of whom serve on the boards of local and national Jewish organizations. From 2001 to the time of his death in 2019, Edward M. Ackerman of Dallas was a key advisor and major donor to NLPC. His legacy is carried on today by NLPC and the Ackerman Center for Holocaust Studies at the University of Texas at Dallas. The ADL itself has partnered with the Ackerman Center. Founded in 1991, the National Legal and Policy Center promotes ethics in public life through research, investigation, education and legal action. Contact Details National Legal and Policy Center Dan Rene +1 202-329-8357 drene@nlpc.org Company Website http://www.nlpc.org

March 04, 2024 11:15 AM Eastern Standard Time

Article thumbnail News Release

Centre for Neuro Skills Study Finds Differences in Sleep Patterns Between Men and Women with Post-Traumatic Brain Injury

Centre for Neuro Skills

Centre for Neuro Skills (CNS), a premier provider of traumatic and acquired brain injury rehabilitation services, has shared findings from a study researching sleep-wake disturbances, published in Neurotrauma Reports on January 3, 2024. They found that sleep deficits are correlated with poorer brain injury patient outcomes (verbal skills, depression issues), as monitored by therapists and administrators at CNS. The study included data from 57 individuals between the ages of 18-70 who sustained traumatic brain injuries (TBIs). CNS collected the data between 2018-2020 at its in-house sleep centers in Dallas and Bakersfield. “Overall, we found that lack of REM sleep negatively impacts memory and learning for TBI patients,” says Dr. Stefanie Howell, a neuroscientist at CNS. “In research, we must also consider additional variables that may impact our results. This includes biological variables such as sex, as biological sex does impact sleep. Our research found that women achieve REM sleep far less than men. Additionally, a decrease in REM sleep was associated with poorer learning and memory task performance, indicating a potential impact on outcome and recovery.” In addition to biological sex, CNS evaluated several sleep medications to determine if their use impacted sleep for TBI patients. Howell said “medications do not seem to be impacting results between men and women; however, the use of melatonin was associated with improved REM sleep and may therefore be of potential short-term benefit to TBI patients. It is important to note that over-the-counter melatonin options are variable due to formula ingredients.” “Through research, we’ve found that while sleep supplements in the benzodiazepine family may cause someone to fall asleep, they suppress REM sleep, which is crucial for memory recollection and improved learning,” says Dr. Brent Masel, executive vice president of medical affairs at CNS. “Melatonin was found to help improve REM sleep in the short term, but it’s important to note that long-term use can be habit-forming. I cannot stress this enough – the best medication is no medication.” In 2021, CNS published two other studies regarding sleep-wake disturbances post-stroke. The first evaluated the incidence of obstructive sleep apnea (OSA) and the second study considered the anatomical location of the injury (stroke). *** About Centre for Neuro Skills Centre for Neuro Skills is an experienced and respected world leader in providing intensive rehabilitation and medical programs for those recovering from all types of brain injury. CNS covers a full spectrum of advanced care from residential and assisted living to outpatient/day treatment. Founded by Dr. Mark Ashley in 1980, CNS has seven locations in California and Texas. For more information about Centre for Neuro Skills, visit: www.neuroskills.com, Facebook, Twitter, LinkedIn, YouTube. Media, please note: Visual assets, including photos, are available. To request an interview with CNS leadership or clinical staff, please contact Robin Carr at 415.766.0927 or CNS@landispr.com. # # # Contact Details Landis Communications Inc. Robin Carr +1 415-766-0927 cns@landispr.com Company Website https://www.neuroskills.com/

March 04, 2024 08:01 AM Pacific Standard Time

Image
1 ... 371372373374375 ... 3755