By Kenny S. - Cryptocurrency Speculator - 09/04/2021
The Celo Foundation has published its 2020 annual report, which outlines both the foundation's balance sheet and its acquisitions last year. The Celo Foundation is an open-source platform whose mission is to make financial tools, cryptocurrency trading and adoption more accessible among smart device users.
The network’s native token is CELO (CELO), built on its proof-of-stake ecosystem used for transfer fees, governance and related contributions. The asset is becoming a popular crypto coin to invest in for many participants.
The foundation invests in ecosystem development projects such as science, education, community engagement, and other multiple outreach strategies. According to their website, the foundation funds "an inclusive and sustainable financial system that creates the conditions for prosperity–for everyone."
Even though the year 2020 was shaped by the global COVID-19 pandemic, Celo continued its progress. The foundation had more than $97.2 million in assets as of December 31, 2020. CELO assets accounted for nearly 80% of the total.
With the foundation distributing $4.7 million in grants to Celo-based solutions and programs to advance the Celo ecosystem, the overall costs for the year rounded up to about $38.4 million. As stated in the report, technology and study received a sizable portion of grants to Celo-based initiatives.
Although this sector obtained 47.2% of the grant, ecosystem support projects received about 31.2%. 13.4% was for education and culture, and 8.2% was invested in social impact. In total, 407 applications were received for the grant's portfolio.
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Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing email@example.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
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