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New rankings paint a different picture of the ‘best’ colleges in Utah – KUER 90.1

The best college in Utah is Neumont College of Computer Science. Thats if youre measuring for what some see as higher education's chief purpose economic mobility.

It's the key indicator in a recent set of college rankings from Third Way, a left-of-center public policy think tank based in Washington D.C. They look at which schools are best at improving students economic outlook after graduation.

While traditional rankings systems like those from U.S. News and World Report have been criticized for emphasizing things like exclusivity and prestige, Third Ways approach places a higher value on how many low-to-moderate income students a school admits, how much they earn after graduating and the time it takes to pay off the cost of attendance.

If the primary purpose of postsecondary education is to promote economic mobility and create a consistent path to the middle class, a handful of institutions concentrated in just three states are leading the charge in delivering on that promise, the report said.

Large, public colleges in California, Texas and New York dominated the rankings. But Neumont a small, for-profit private school in Salt Lake City came in at 21 out of the 1,320 schools measured. It, along with Brigham Young University, Utah State University and Utah Valley University, landed in the top 20% of U.S. degree-granting colleges nationwide.

The University of Utah, Westminster College and Southern Utah University made it into the second tier, between the top 20 and 40%, but no other Utah schools were included. While schools are ranked individually, those within the same tier largely perform similarly in terms of economic mobility. The report does not rank technical schools or community colleges.

Neumont scored high because it enrolls a relatively large number of low-income students calculated by the proportion of students who received a federal Pell Grant (61%). Despite a total average net cost of more than $92,220, students on average earn enough to pay off their education in 2.3 years, the analysis showed. The average time for all colleges included in the rankings was 7.8 years, though there is a wide variety among schools.

Jason Thompson, Neumonts associate admissions director, said part of the schools success is its narrow focus. It only offers six bachelors degree programs, all geared toward coding and computer science fields with lots of job openings and relatively high average salaries.

Students also learn mostly by working on projects, rather than by listening to lectures, and theyre required to get work experience through an internship before graduation.

Everything we do focuses on what happens after college, Thompson said. Companies will come in from all across the board and they'll talk about who they are and what they do, but more importantly, what kind of skills they're looking for. Our freshmen get that from day one.

While Neumont ranked highest in Utah, its overall impact is small. It only enrolls about 500 students a year, 15-20% of whom are local. Thompson said that size is partly how they ensure students get the attention they need to succeed.

BYU enrolls a smaller proportion of low-income students, but it performed well because the net cost of attending is significantly lower than other private schools, said Michael Hansen, a senior fellow in the Brown Center on Education Policy at the Brookings Institution. The Church of Jesus Christ of Latter-day Saints heavily subsidizes tuition costs for students, he said.

In Third Ways analysis, the average total cost to earn a four-year degree at BYU is $34,776, and students typically make enough to pay that off in less than a year.

The rankings arent the first attempt to better understand colleges impacts on both individuals and society, Hansen said. Theyre also not a complete measure, as several Utah schools were not included in the analysis. But such efforts do help to reshape how we think about the value of a degree, he said.

The balance between the private interests of the students versus the social benefit of college more broadly, I think, is really coming into question, Hansen said. These rankings are trying to encourage more public discussion around what we value in college.

Its an important conversation, he said, as college is still seen as a significant engine of social mobility yet students from disadvantaged backgrounds also face higher barriers to attendance and completion.

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Canton City Schools arts teacher Kathleen Pugh is finalist for Ohio Teacher of the Year – Canton Repository

A Canton City teacher has been named a finalist for Ohios Teacher of the Year.

Kathleen Pugh, who teaches visual art at Hartford Middle School, is one of four teachers selected as a finalist by the State Board of Education. The Ohio Department of Education announced the finalists Monday, as well as the 10 teachers selected to represent one of the state board districts.

Pugh was named the 2023 State Board Teacher of the Year for District 8.

Stephanie Siddens, interim superintendent of public instruction, applauded all the recognized educators for their talent, hard work and dedication to their students during an online presentation where each state board district teacher of the year was introduced.

Past Stark County District 8 winners: Canton South teacher Nancy Q. Miller is State Board Teacher of the Year for District 8

This remarkable group of teachers instills a passion for lifelong learning while advancing student success, Siddens said. These educators embody the countless reasons we celebrate our teachers.

Pugh, who will begin her 25th year in education this fall, didnt originally plan to be a teacher.

She graduated in 1984 with a bachelors degree from Kent State University with a major in painting and drawing and a minor in sculpture. After graduation, Pugh took a job with a financial institution and then began working as a fashion designer and seamstress. It was during this time that she volunteered to teach art to students at Louisville Elementary and discovered a passion for teaching as well as art.

In 1997, Pugh obtained her teaching certificate from Walsh University and became a teacher at Louisville. She taught students in second and fourth grade for six years and then became a middle school visual art teacher.

More about Kathy Pugh: Local teacher, businesses develop virus safety shield for students

Pugh transferred to the Canton City School District around2013where she became a visual arts teacher position at Hartford Middle School, which houses the districts science, technology, education, art, math and medicine academy.

In a video posted onlineMonday, Pugh said she doesnt feel as though shes teaching. She considers herself a lifelong learner who facilitates the sharing of knowledge in a shared space.

That space could be with students, parents, grandparents, a custodian, an architect, a professional golfer or anyone else who wants to share their knowledge.

I feel like it is valuable for me to create a space where the students feel safe, to come and fail, to try and try again, to share their knowledge, to gain knowledge, Pugh said in the video. But most importantly be creative, be innovative and become a lifelong learner.

Thats why I go into the building every day. Its not work. Its sharing. Its learning. And its something I enjoy immensely every day.

Pugh was nominated by Canton City Schools teacherAmanda Gillespie, who called Pugh one of the most dedicated colleagues she hasknown.

"With her, students don't just learn the value of art, they learn how art embraces science, music, math, history, computer science, engineering, entrepreneurship and language arts, Gillespie wrote in her nomination form.

Gillespie said Pugh gives her students various outlets to exhibit and sell their pieces and hires students at her art gallery in downtown Canton,where she gives them on-the-job training.

Shes an exemplar of a teacher connecting the classroom to the community, Gillespie said.

More about Kathy Pugh: Louisville artist lifts spirits with masks, sculptures

A panel of education and community stakeholders will interview Pugh and the other three state finalists to select the Ohio Teacher of the Year. The state superintendent will announce the statewide honoree in the next few months.

The Ohio Teacher of the Year will represent the state in the National Teacher of the Year selection in fall 2023.

The other three finalists are Jeanne Rankin of Winton Woods City Schools, Jennifer Allen of Hilliard City School District and Melissa Kmetz of Lakeview Local School District.

Reach Kelli at 330-580-8339 or kelli.weir@cantonrep.com.

On Twitter: @kweirREP

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USI selects Siders as new Chief Information Officer – University of Southern Indiana

Austin Siders has accepted the position of Chief Information Officer (CIO) at the University of Southern Indiana. The announcement was made Friday, July 29 by Steve Bridges, Vice President for Finance and Administration, and is effective September 1, 2022. Siders will succeed Richard Toeniskoetter who retired as CIO after 10 years of service, and Anastasia (Stacy) Draper who has served as Interim CIO since September 2021.

As CIO at USI, Siders will head the Information Technology Department and its work of providing support for faculty, staff and students of the University. This encompasses administrative and academic computer support; cybersecurity; Local Area Network (LAN) support structure; microcomputer hardware and software support; Internet assistance; audio/visual; Blackboard; telecommunications; and various software applications.

Austin brings to USI both strong technical skills and strong strategic visioning abilities, says Bridges. His wealth of experience fits the needs of the University of Southern Indiana now and as we look to a future where technology is ever changing and critical to our mission.

Siders served the last nine years as Director of Enterprise Applications and Solutions at Austin Peay State University. In his role at Austin Peay, he provided strategic leadership and direction for the implementation and maintenance of enterprise information systems.

Siders has more than 15 years of higher education technology experience from his employment at Austin Peay, including six years as a systems analyst and programmer and 10 months as Interim Director of Information Technology (CIO). He also served as an adjunct faculty, providing instruction in programming, cybersecurity and information security governance.

Siders holds a bachelors degree in computer science and information security and a masters degree in computer science and quantitative methods from Austin Peay.

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Biden wants an industrial renaissance. He can’t do it without immigration reform. – POLITICO

But those subsidies, as well as new tax credits for the chip industry, were finally sent to Bidens desk in late July. Intel isnt the only company thats promised to supercharge U.S. projects once that money comes through Samsung, for example, is suggesting it will expand its new $17 billion chip plant outside of Austin, Texas, to a nearly $200 billion investment. Lawmakers are already touting the subsidies as a key step toward an American renaissance in high-tech manufacturing.

Quietly, however, many of those same lawmakers along with industry lobbyists and national security experts fear all the chip subsidies in the world will fall flat without enough high-skilled STEM workers. And they accuse Congress of failing to seize multiple opportunities to address the problem.

In Columbus, just miles from the Johnstown field where Intel is breaking ground, most officials dont mince words: The tech workers needed to staff two microchip factories, let alone eight, dont exist in the region at the levels needed.

Were going to need a STEM workforce, admitted Jon Husted, Ohios Republican lieutenant governor.

But Husted and others say theyre optimistic the network of higher ed institutions spread across Columbus including Ohio State University and Columbus State Community College can beef up the regions workforce fast.

I feel like were built for this, said David Harrison, president of Columbus State Community College. He highlighted the repeated refrain from Intel officials that 70 percent of the 3,000 jobs needed to fill the first two factories will be technician-level jobs requiring two-year associate degrees. These are our jobs, Harrison said.

Harrison is anxious, however, over how quickly he and other leaders in higher ed are expected to convince thousands of students to sign up for the required STEM courses and join Intel after graduation. The first two factories are slated to be fully operational within three years, and will need significant numbers of workers well before then. He said his university still lacks the requisite infrastructure for instruction on chip manufacturing were missing some wafer processing, clean rooms, those kinds of things and explained that funding recently provided by Intel and the National Science Foundation wont be enough. Columbus State will need more support from Washington.

I dont know that theres a great Plan B right now, said Harrison, adding that the new facilities will run into the tens of millions.

A lack of native STEM talent isnt unique to the Columbus area. Across the country, particularly in regions where the chip industry is planning to relocate, officials are fretting over a perceived lack of skilled technicians. In February, the Taiwanese Semiconductor Manufacturing Corporation cited a shortage of skilled workers when announcing a six-month delay in the move-in date for their new plant in Arizona.

Whether its a licensure program, a two-year program or a Ph.D., at all levels, there is a shortfall in high-tech STEM talent, said Phillips. The NSB member highlighted the missing millions of people that are not going into STEM fields that basically are shut out, even beginning in K-12, because theyre not exposed in a way that attracts them to the field.

Industry groups, like the National Association of Manufacturers, have long argued a two-pronged approach is necessary when it comes to staffing the high-tech sector: Reevaluating immigration policy while also investing heavily in workforce development

The abandoned House and Senate competitiveness bills both included provisions that would have enhanced federal support for STEM education and training. Among other things, the House bill would have expanded Pell Grant eligibility to students pursuing career-training programs.

We have for decades incentivized degree attainment and not necessarily skills attainment, said Robyn Boerstling, NAMs vice president of infrastructure, innovation and human resources policy. There are manufacturing jobs today that could be filled with six weeks of training, or six months, or six years; we need all of the above.

But those provisions were scrapped, after Senate leadership decided a conference between the two chambers on the bills was too unwieldy to reach agreement before the August recess.

Katie Spiker, managing director of government affairs at National Skills Coalition, said the abandoned Pell Grant expansion shows Congress has not responded to worker needs in the way that we need them to. Amid criticisms that the existing workforce development system is unwieldy and ineffective, the decision to scrap new upgrades is a continuation of a trend of disinvesting in workers who hope to obtain the skills they need to meet employer demand.

And it becomes an issue that only compounds itself over time, Spiker said. As technology changes, people need to change and evolve their skills.

If were not getting people skilled up now, then we wont have people that are going to be able to evolve and skill up into the next generation of manufacturing that well do five years from now.

Congress finally sent the smaller Chips and Science Act which includes the chip subsidies and tax credits, $200 million to develop a microchip workforce and a slate of R&D provisions to the presidents desk in late July. The bill is expected to enhance the domestic STEM pool (at least on the margins). But it likely falls short of the generational investments many believe are needed.

You could make some dent in it in six years, said Phillips. But if you really want to solve the problem, its closer to a 20-year investment. And the ability of this country to invest in anything for 20 years is not phenomenal.

The microchip industry is in the midst of a global reshuffling thats expected to last a better part of the decade and the U.S. isnt the only country rolling out the red carpet. Europe, Canada, Japan and other regions are also worried about their security, and preparing sweeteners for microchip firms to set up shop in their borders. Cobbling together an effective STEM workforce in a short time frame will be key to persuading companies to choose America instead.

That will be challenging at the technician level, which represents around 70 percent of workers in most microchip factories. But those jobs require only two-year degrees and over a six-year period, its possible a sustained education and recruitment effort can produce enough STEM workers to at least keep the lights on.

Its a different story entirely for Ph.D.s and masters degrees, which take much longer to earn and which industry reps say make up a smaller but crucial component of a factorys workforce.

Gabriela Gonzlez, Intels head of global STEM research, policy and initiatives, said about 15 percent of factory workers must have doctorates or masters degrees in fields such as material and electrical engineering, computer science, physics and chemistry. Students coming out of American universities with those degrees are largely foreign nationals and increasingly, theyre graduating without an immigration status that lets them work in the U.S., and with no clear pathway to achieving that status.

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The rise of fake cryptocurrency apps and how to avoid them – Cointelegraph

Scammers have been taking advantage of blockchains decentralized and immutable nature to swindle crypto investors since the advent of the technology.

And, according to the latest FBI fraud report, fraudsters are using fake crypto apps to steal money from unsuspecting crypto investors. It highlights that American investors have lost approximately $42.7 million to swindlers through fake apps.

The schemes reportedly take advantage of heightened interest in cryptocurrencies, especially during bull market runs, to beguile crypto users.

Fake crypto app scammers use myriad techniques to entice investors. The following is a breakdown of some of them.

Some fake crypto app scammer networks use social engineering strategies to entice victims.

In many cases, the fraudsters befriend the victims through social platforms such as dating sites and then trick them into downloading apps that appear to be functional cryptocurrency trading apps.

The scammers then convince users to transfer funds to the app. The funds are, however, locked in once the transfer is made, and the victims are never allowed to withdraw money.

In some cases, the scammers lure victims using outlandish high-yield claims. The ruse comes to an end when the victims realize that they cant redeem their funds.

Speaking to Cointelegraph earlier this week, Rick Holland, chief information security officer of Digital Shadows a digital risk protection firm underscored that social engineering remains a top strategy among crooks because it requires minimal effort.

Relying upon the tried-and-true method of social engineering is far more practical and lucrative, he said.

The cybersecurity manager added that social engineering makes it easy for scammers to target high-net-worth individuals.

Some fake crypto app scammers have resorted to using recognizable brand names to push fake apps because of the trust and authority that they wield.

In one case highlighted in the latest FBI crypto crime report, cybercriminals posing as YiBit employees recently hoodwinked investors out of some $5.5 million after convincing them to download a bogus YiBit crypto trading app.

Unbeknown to the investors, the actual YiBit crypto exchange firm ceased operations in 2018. Fund transfers made to the fake app were stolen.

In another case outlined in the FBI report, phishers using the Supay brand name, which is associated with an Australian crypto company, swindled 28 investors out of millions of dollars. The ploy, which ran between Nov. 1 and Nov. 26, caused $3.7 million in losses.

Such schemes have been going on for years, but many incidences go unreported due to the lack of proper recourse channels, especially in jurisdictions that shun cryptocurrencies.

Recent:How NFTs can boost fan engagement in the sports industry

Besides the U.S., investigations in other major jurisdictions such as India have in the recent past uncovered elaborate fake crypto app schemes.

According to a report published by the CloudSEK cybersecurity company in June, a newly discovered fake crypto app scheme involving numerous cloned apps and domains caused Indian investors to lose at least $128 million.

Fake crypto app scammers sometimes use official app stores to distribute dodgy applications.

Some of the apps are designed to collect user credentials that are then used to unlock crypto accounts on corresponding official platforms. Others claim to offer secure wallet solutions that can be used to store a diverse range of cryptocurrencies but pilfer funds once a deposit is made.

While platforms such as Google Play Store constantly review apps for integrity issues, it is still possible for some fake apps to slip through the cracks.

One of the latest methods used by scammers to accomplish this is registering as app developers on popular mobile app stores such as the Apple App Store and Google Play Store and then uploading legitimate-looking apps.

In 2021, a fake Trezor app masquerading as a wallet created by SatoshiLabs used this strategy to get published on both Apple App Store and Google Play Store. The app claimed to provide users with direct online access to their Trezor hardware wallets without needing to connect their Trezor dongle to a computer.

Victims who downloaded the fake Trezor app were obligated to submit their wallet seed phrase to start using the service. A seed phrase is a string of words that can be used to access a cryptocurrency wallet on the blockchain.

The submitted details allowed the thieves behind the fake app to loot user funds.

According to a statement provided by Apple, the fake Trezor app was published on its store through a deceptive bait-and-switch maneuver. The app developers are alleged to have initially submitted the app as a cryptography application designed to encrypt files but later on converted it to a cryptocurrency wallet app. Apple said that it was not aware of the change until users reported it.

Speaking to Cointelegraph earlier this week, Chris Kline, co-founder of Bitcoin IRA a crypto retirement investment service said that despite such incidents, major tech companies in the space were resolute in fighting fake crypto apps because of the potential damage to their integrity. He said:

That said, the fake app problem is more prevalent in non-official app stores.

Fake cryptocurrency apps are designed to resemble legitimate apps as closely as possible. As a crypto investor, one should be able to discern between legitimate and fake apps to avoid unnecessary losses.

The following is a breakdown of some of the things to look out for when trying to ascertain the authenticity of a mobile crypto application.

The first step in ascertaining whether an app is legit is checking out the spelling and icon. Fake apps usually have a name and icon that looks similar to the legitimate one, but something is usually off.

If the app or developer names are misspelled, for example, the software is most likely phony. A quick search about the app on the internet will help to confirm its legitimacy.

It is also important to consider if the app has a Google Editors choice badge. The badge is a distinction provided by the Google Play editorial team to recognize developers and apps with outstanding quality. Apps with this badge are unlikely to be fake.

Counterfeit apps usually request more permissions than necessary. This ensures that they glean as much data as possible from victims devices.

As such, users should be wary of apps that require off-center permissions, such as device administrator privileges. Such authorizations could give cybercriminals unfettered access to a device and allow them to intercept sensitive data that can be used to unlock financial accounts, including crypto wallets.

Intrusive app permissions can be blocked via a phone systems privacy settings.

The number of times that an app has been downloaded is usually an indicator of how popular it is. Apps from reputable developers typically have millions of downloads and thousands of positive reviews.

Inversely, apps with just a few thousand downloads require greater scrutiny.

If unsure about an application, contacting support through the companys official website could help to avoid financial losses due to fraud.

Furthermore, authentic apps can be downloaded from a companys official website.

Related:Crypto contagion deters investors in near term, but fundamentals stay strong

Cryptocurrencies are underpinned by relatively new technology, so it is only natural that there are teething problems when it comes to use and adoption. Unfortunately, in recent years, black hats have targeted nave crypto enthusiasts using fake crypto apps.

While the problem is likely to persist for several years, increased scrutiny by tech companies is likely to temper the issue in the long run.

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Celebrities and Banking Industry Pushed Cryptocurrency Market To Its Collapse, Now is the Time to Truly Learn – Black Enterprise

Two years ago, cryptocurrency was all the rage, as companies quickly jumped into digital currency, and celebrities from rapper Jim Jones to actress Reese Witherspoon touted the financial technology and their currencies.

Since then, things have changed. From May until now, more than $700 billion has been lost as the value of cryptocurrency has fallen. Making matters worse those losses have been disproportionately felt by Black investors.

Black Americans embraced cryptocurrency as a way to work around the U.S. banking system and its regulations, which have discriminated against and marginalized them for generations. However, a lack of oversight has allowed many users to be taken advantage of.

But as MSNBC reports, things didnt have to be this way. Since cryptocurrency became mainstream, there have been opportunities to have meaningful conversations about the future of digital currencies. However, celebrities and those in the entertainment industry quieted those voices to push their products.

Now that cryptocurrency has fallen to the bottom, this is the time for those meaningful conversations. Digital currency is not going away and the technology used to keep track of transactions, known as blockchain, is designed to work best in the Metaverse, which is still largely in development.

True financial literacy and learning the ins and outs of cryptocurrency as both creators and consumers are paramount to avoiding another billion-dollar loss. Teaching those interested in financial technology will not only protect users, but it can create opportunities for experts to make money from sharing financial technology and how to avoid becoming victims of another crash.

Digital currencies, like cryptocurrency and NFTs, are the foundation of the economy of the future, but if we dont learn the basics and how to use them effectively, it will have the same effect as payday loans and other credit rip-offs taking advantage of those in the most need.

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Can the cryptocurrency market remain bullish on the first days of August? – FXStreet

Most of the coins faced a correction period on the last day of the week.

Despite the slight decline, the rate of Bitcoin (BTC) has risen by 5.19% over the last 7 days.

BTC/USD chart by TradingView

On the weekly chart, Bitcoin (BTC) looks bullish as the rate stays above the $23,000 mark. If bulls can hold the initiative, one can expect a continued rise to the $25,000 zone on the first days of the upcoming month.

Such a scenario is relevant until mid-August. Bitcoin is trading at $23,710 at press time.

Ethereum (ETH) has gained even more than Bitcoin (BTC) as the rate has grown by almost 8%.

ETH/USD chart by TradingView

Ethereum (ETH) has continued the rise after the false breakout of the mirror level at $1,476. In this case, the more likely scenario is a test of the $1,900-$2,000 area within the next days. Ethereum is trading at $1,711 at press time.

XRP is showing the same growth as Ethereum (ETH), rising by 8%.

XRP/USD chart by TradingView

XRP is trading near its resistance level at $0.3893 on the weekly chart. If the candle closes above this mark, there is a high possibility to see a sharp upward move to the $0.40 zone soon.

XRP is trading at $0.3895 at press time.

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Looking back on the cryptocurrency horse race – Axios

Cryptocurrency might change the world, but, until then, it's a horse race. Mainly, coins are fighting to get to third place.

Why it matters: Coins that get a lock in their position at the top are likely to have found what tech people call "product-market fit." That is, some set of people has found them decisively useful in some way.

Details: This chart looks backward from the top 10 cryptocurrencies by market cap today, and where they have stood in the CoinMarketCap rankings every summer going back to 2017.

Of note: Bitcoin has always led this chart. Ethereum is solid but if you go back a little farther, it traded places with xrp a few times.

Stablecoins jump out. Note the rapid ascents of tether, usd coin and binance usd.

Also, note the white space to the left. Empty rankings on the chart are where once buzzy but now mostly forgotten cryptocurrencies sat when they still looked interesting.

What we're watching: DOGE, crypto's comeback coin, keeps on hanging on in the rankings. Much wow!

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Chapter 15 A Useful Tool for Protecting and Preserving Assets in Cryptocurrency Insolvency Proceedings – JD Supra

In February 2022, I wrote a blog article entitled Cross-Border Bankruptcy Cases: Chapter 15 of the Bankruptcy Code and Parameters of a Discovery Tool. Since the publication of that article, there have been approximately 40 chapter 15 filings in the United States Bankruptcy Courts throughout the country. Two of those cases, Samba v. Intl Petro. Prods. and Additives Co. (In re Black Gold S.A.R.L.), 635 B.R. 517 (9th Cir. BAP 2022) and Zawawi v. Diss (In re Zawawi), 2022 WL 596836 (M.D. Fla. Feb. 28, 2022), as discussed in the blog, Two Recent Chapter 15 Cases Clarify Just How Low the Bar is for Recognition (available at https://www.faegredrinker.com/en/insights/publications/2022/3/two-recent-chapter-15-cases-clarify-just-how-low-the-bar-is-for-recognition, last visited July 27, 2022), demonstrate just that, where two reviewing courts reversed bankruptcy courts determinations that the requirements of section 1517(a) of the Bankruptcy Code had not been met, and allowing the chapter 15 proceedings to continue.

Given the recent downturn in the cryptocurrency markets and the bankruptcy filings emanating from this downturn, the use of chapter 15 for cryptocurrency related companies instituting foreign insolvency proceedings remains a useful tool to protect assets within the United States.For example, on July 6, 2022, Voyager Digital, a New-York based cryptocurrency firm filed for chapter 11 relief in the U.S. Bankruptcy Court for the Southern District of New York. But this was after it had sent a notice of default to Three Arrows Capital a Singapore-based cryptocurrency hedge fund for failing to make payments on loans described as 15,250 bitcoin and $350 million U.S. dollar coin (totaling approximately $650 million). As a result of this and apparently other significant debt, Three Arrows Capital initiated an insolvency proceeding in the British Virgin Islands and then, on July 1, 2022, commenced a chapter 15 proceeding in the Southern District of New York, seeking to recognize the British Virgin Islands insolvency proceedings. In addition to the Voyager Digital debt, it also came to light that Three Arrows owes $2.36 billion to Genesis Pacific Pte. Ltd., an affiliate of Genesis Global Trading Inc., which bills itself as the world's largest digital-asset lender.

While the cryptocurrency dominoes continue to fall from the recent downturn in that industry (see Celsius), on July 12, 2022, Bankruptcy Judge Martin, overseeing Three Arrows chapter 15 proceeding, entered an order freezing Three Arrows assets, at a time when Three Arrows principals had disappeared (although they have recently resurfaced). The Three Arrows chapter 15 proceeding should provide a viable platform for discovery, including of its recent reappearing principals, while those entities left holding the bag attempt to figure out exactly what transpired at Three Arrows and attempt to trace and recover its assets.

As may be apparent, chapter 15 proceedings remain a viable tool for recognition of foreign insolvency proceedings, including those insolvency proceedings involving entities in the cryptocurrency business.

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Cryptocurrency Cardano Down More Than 3% Within 24 hours – Benzinga

Cardano's ADA/USD price has decreased 3.61% over the past 24 hours to $0.51. This is contrary to the coins performance over the past week where it has experienced an up-trend of 4.0%, moving from $0.49 to its current price.

The chart below compares the price movement and volatility for Cardano over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.

The trading volume for the coin has increased 3.0% over the past week while the overall circulating supply of the coin has increased 0.21% to over 33.82 billion which makes up an estimated 75.16% of its max supply, which is 45.00 billion. The current market cap ranking for ADA is #8 at $17.20 billion.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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