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NEW ASSOCIATION LAUNCHED TO PROTECT CASK WHISKY CUSTOMERS AND UPHOLD THE REPUTATION OF THE SCOTCH INDUSTRY
LONDON, Sept. 21, 2023 /PRNewswire/ — Today sees the launch of the Cask Whisky Association (CWA), a new organisation established to create a safe environment for whisky enthusiasts and customers to buy and sell casks.
The CWA is made up of two boards of Members and Advisors and includes cask whisky businesses, distilleries, independent bottlers, whisky experts and authors as well as legal and insurance professionals working within the sector.
By setting best practices in cask whisky ownership and sale, the Association aims to protect cask whisky customers and the wider whisky industry.
Chairman of the Advisory Board and spokesman for the CWA Colin Hampden-White says the Association’s goal is to uphold the overall reputation of the Scotch whisky industry.
“The Cask Whisky Association exists to protect private customers from unscrupulous business practices and traders and safeguard independent bottlers from over-inflated pricing,” Colin says, adding: “Our Members are committed to, and will provide guidance on, best practice.”
Taking action
Wendy Chamberlain MP, Chair of the Scotch Whisky APPG, has today written to the business minister responsible for the Digital Markets, Competition, and Consumers Bill, seeking clarification on whether the new consumer legislation will increase protections for investors in cask whisky. She says in the letter: “Having met with the Cask Whisky Association, I am aware that there are many reputable organisations who want to provide good investment opportunities to enthusiasts and investors alike. The actions of bad actors in this field risk harming not only consumers, but the reputation of Scotch whisky and the long-term viability of the industry as a whole.”
The Association has also met with Lord Richard Harrington – who is leading the government review of foreign direct investment (FDI). Harrington said of the Association: “This type of cross-industry collaboration is welcomed. Where blind spots in regulation exist, such as in the cask investment space, it is encouraging to see different parts of the industry coming together to address the issues that emerge. Scotch is a true British success story so measures must be put in place to protect the integrity of the sector.”
Other MPs whom recognise the need to better protect investors are also lending their support to the Association.
Nickie Aiken, MP for Cities of London and Westminster, says: “I am delighted to hear of the great work of the Cask Whisky Association, which is being set up to educate and protect investors in the fast-growing cask whisky market. As the sector continues to grow, it’s vital that adequate protections are in place for consumers and investors alike.”
The Association is in discussions with the Scotch Whisky Association (SWA), the Worshipful Company of Distillers and the Advertising Standards Authority (ASA), seeking cooperation and collaboration to address issues in the sector. It is also petitioning The Bonded Warehousekeepers Association (The BWA) to gain their support.
Whisky expert and author Hans Offringa sits on the CWA’s advisory board. He says: “If you want to buy whisky go to a trusted company and get some advice, that way you will avoid any pitfalls. That’s why I think certification and licensing is so important; the Cask Whisky Association provides a quality hallmark for people looking to buy and invest in whisky. There are a lot of cowboys out there and we don’t want them to discredit good companies and ruin good business.”
Membership to the CWA is open to UK-based, financially-stable companies who uphold quality standards and retain all appropriate licences.
The CWA is a voluntary organisation open to all cask whisky companies. Applications will be reviewed semi-annually by the executive board and overseen by the independent advisory board.
Please visit the website for further information https://caskwhiskyassociation.org/contact/
Follow the CWA on social media:
Instagram – caskwhiskyassociation
Facebook – Cask Whisky Association
X – @caskwhiskyassoc
LinkedIn – Cask Whisky Association
ABOUT THE CASK WHISKY ASSOCIATION (CWA)
The Cask Whisky Association was established and launched in 2023.
The CWA brings together stakeholders leading on best practice to safeguard the industry and consumer.
The carefully-curated board of Advisors offer a depth and breadth of knowledge from all sides of the industry and includes distilleries, authors, journalists as well as insurance and legal professionals.
CWA Executive Board
Keith Rennie – Director at Scotch Whisky International Ltd
Simon Aron – Managing Director of Cask Trade Ltd
Saul Kelly – Managing Director of Fruitful Spirits Ltd
George Stewart –Director of George Stewart Whisky Ltd
Danny Saltman – Director of Malts at DS Tayman
Saul Taylor – Managing Director of Dalkeith Brokerage Ltd
Russell Spratley – Director of Spiritfilled Ltd
CWA Advisory Board
Colin Hampden-White – TV presenter and whisky journalist
Charles Maclean – Author and whisky expert
Hans Offringa – Author and whisky expert
George Frier – Partner at Shepherd and Wedderburn LLP
Patricia Dillon – Managing Director of Speyside Distillers Co. Ltd
John Laurie – Managing Director of The Glenturret
Graeme Dempster – Account Executive at insurance broker Bruce Stevenson
Martin Purvis – Associate Director of Kelvin Cooperage
https://caskwhiskyassociation.org
Contact: Gordon Carver / 07732604450 / g.carver@hawthornadvisors.com
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Xinhua Silk Road: Conference on deepening financial openness and co-op in Northeast Asia held in NE. China’s Shenyang
BEIJING, Dec. 27, 2024 /PRNewswire/ — The 2nd Northeast Asia Finance Conference and 2024 “Revitalizing Liaoning with Finance” Excellent Cases Release kicked off on Tuesday in Shenyang, capital of northeast China’s Liaoning Province, aiming to further deepen financial openness and cooperation in the Northeast Asian region and advance construction of a regional financial center.
The main forum held a series of activities, including an opening ceremony, two round-table dialogues on “finance + biomedical industry” and “finance + cultural industry”, a symposium for foreign financial institutions, a seminar on innovative development of financial clusters, a forum on development of technology and finance, a forum on industrial low-carbon transformation and financial innovation, as well as an enterprise project roadshow and industry-finance matchmaking event.
During the conference themed on “accelerating the construction of a regional financial center in Northeast Asia and creating a new highland for opening up”, excellent cases of revitalizing Liaoning through finance in 2024 were unveiled and the index for core areas of regional financial centers in northeast China was released.
The conference also held an unveiling ceremony for the upgrading of the Shenyang finance and trade development zone to a national-level development zone, and a launch ceremony of a platform for Shenyang industrial insights and decision analysis.
The conference was co-hosted by China Economic Information Service, Liaoning Branch of Xinhua News Agency, Shenhe District People’s Government, Shenyang local financial administration under guidance of Shenyang Municipal People’s Government and Liaoning local financial supervision and administration bureau.
Original link: https://en.imsilkroad.com/p/343777.html
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VILNIUS, Lithuania, Dec. 27, 2024 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce the launch of ALTCOIN Index, the first futures trading pair involving top altcoins. This innovative trading product offers users a one-click solution to efficiently track and trade major cryptocurrency trends with ease.
Traditionally used in stock markets, a futures index is a financial derivative that tracks the performance of a group of assets, such as stocks of commodities. These instruments were first introduced to simplify trading by allowing investors to speculate on or hedge against the collective movements of selected market sectors. Instead of purchasing individual stocks, traders are able to access broad market exposure in a single transaction, saving time and reducing costs.
In the cryptocurrency market, this new ALTCOIN/USDT futures trading pair works similarly by bundling the performance of the top mainstream cryptocurrencies by market capitalization, excluding Bitcoin (BTC) and stablecoins. The current index includes ETH, XRP, SOL, BNB, DOGE, ADA, TRX, AVAX, and SHIB. This approach is more efficient compared to buying individual cryptocurrencies or ETFs as this allows for direct speculation using tiered leverage options without the need to manage multiple positions, effectively diversifying trading risks associated with individual asset volatility.
Vivien Lin, Chief Product Officer of BingX, commented on the new offering: “By aggregating a range of leading cryptocurrencies into a single trading instrument, we’re giving users a practical and efficient way to better capture market trends. This index trading pair should help our less experienced users with their trading goals more easily, particularly when they are unsure which asset to trade and just want to trade major altcoins in general with leverage.”
BingX users can take advantage of tiered leverage options and competitive rates consistent with the platform’s perpetual futures terms, simplifying open order management and enhancing trading efficiency. The platform also ensures that the index composition remains current, with regular quarterly adjustments and temporary updates in response to market conditions.
About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.
For more information please visit: https://bingx.com/
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SINGAPORE, Dec. 27, 2024 /PRNewswire/ — Nodepay, a decentralized AI platform transforming unused internet bandwidth into real-time data pipelines for AI training, today announced it has raised a second round of funding, bringing its total to $7 million.
The latest funding round welcomed new strategic investors IDG Capital ($23 Billion AUM), Mythos, Elevate Ventures, IBC, Optic Capital, Funders.VC, Matthew Tan (Etherscan founder) and Yusho Liu (CoinHako Co-founder & CEO) as notable angels. They join an impressive roster of previous backers that includes Animoca Brands, Mirana, OKX Ventures, JUMP Crypto, Tokenbay Capital and more.
Nodepay’s network taps into a global community of users running privacy-protected nodes. By sharing their spare internet bandwidth, these participants earn rewards for creating a real-time data source that improves AI inference with accurate, timely information—an approach known as Retrieval Augmented Generation (RAG).
Darren Nguyen, co-founder of Nodepay commented: “Our mission is to develop solutions that create tangible value for both AI developers and its end users. We give contributors a share in the AI ecosystem they help fundamentally build.”
Nodepay’s infrastructure platform integrates real-time data retrieval, a Web3-focused decentralized answer engine, reinforcement learning for more accurate model output, and gamified human verification. Together, these components combine to create a fair, collaborative, and innovative AI ecosystem.
Eric Le, investment director of IDG Capital, said, “The team at Nodepay is democratizing the AI economy by providing a platform that allows users to share directly in the value they create. We’re proud to support their vision of making AI more accessible and beneficial to all.”
With this funding, Nodepay will continue to commercialize its infrastructure to benefit both its community and partner AI labs. As it prepares to launch on Solana, Nodepay stands ready to lead the next era of decentralized AI development and training.
Already serving over 1.5 million active users worldwide, Nodepay continues to expand its reach, solidifying its role as a leader in the integration of AI and blockchain technology. Users can expect further updates and new announcements through their social channels and official website.
About Nodepay
Nodepay is a decentralized AI platform dedicated to democratizing AI training through real-time data retrieval. By turning idle internet bandwidth into a valuable resource, Nodepay fuels the next generation of AI models and stands at the forefront of AI decentralization.
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