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Gullible Nagpur Falls Prey To Cyber Crooks, Conned Of Rs 50Cr In One YearAn online debate over foreign workers in tech shows tensions in Trump’s political coalitionRockets aren't the only thing Elon Musk is sending into the stratosphere. After a three-year plummet, dogecoin , jumping 250% since the election of Donald Trump—part of a broader wave of optimism in the industry, due to Trump's courting of crypto advocates during his campaign. Trump's informal appointment of Musk to what he calls the —D.O.G.E for short—also helped pump the dog-themed . This isn't the first time Musk, who styles himself as " ," has fueled interest in dogecoin. In May 2021, its price shot up in anticipation of on "Saturday Night Live." During one skit, Musk played a in conversation with a host, who repeatedly asked him, "What is dogecoin?" After some obfuscation, Musk's character finally admitted that it was a hustle. The price of the coin went . Just over a year later, it had . The losses hit small investors hard. In 2022, one of them against Musk for market manipulation and insider trading, though the case was dismissed in August 2024. Why has dogecoin—a meme coin that was never meant to be taken seriously as an investment—seen such extreme swings in value? We're all in this together Dogecoin was launched in 2013 to spoof bitcoin and a slew of other cryptocurrencies that were claiming to disrupt the traditional world of finance. , copied the code of an existing coin, and branded it with the already popular Doge —a picture of a Shiba Inu dog surrounded by fragments of broken English: "wow much coin." Although pointless and undesirable, it became one of the most popular and enduring cryptocurrencies on the market. Following dogecoin's previous surge in 2021, its fervent network of influencers and everyday investors worked together to draw tremendous attention—and capital—to the joke currency. To understand the appeal of these absurd investments, you have to look at the time and energy that users invest into these networks and the rewards, both financial and social, they get in return. Meme coins are collaborative enterprises. Members of these online communities have an economic incentive to become outspoken boosters: The more the value of dogecoin rises, the more their investments grow. But they also receive social validation from other meme coin investors when they pump up the coin. In other words, behind every meme coin is a collective of strangers on a communal mission to make more money. Dogecoin and its imitators have been described by their leadership as , and projects. Beyond branding the assets with culturally resonant images, whether it's a or , successful crypto ventures are characterized by complex webs of trust. Trust in the technology. Trust in its potential for future appreciation. And trust that those holding power in the networks won't exploit the rest. This loyalty is woven among a global network of users who collaborate around the clock to promote their coin and demonstrate their unwavering commitment to its success. In times of price appreciation, the collective . During price dips, community members mutually reinforce their comrades'—and their own—beliefs that this is just a bump in the road and that their collective efforts will eventually lead to a handsome payoff. Even in the coldest of , this ritualistic behavior helps these speculative communities endure. Community serves as a substitute for financial loss. The investment strategies in these communities—and the conviction in their payoff—involve repeating and reposting what others have said, like any traditional internet meme. Trolling traditional valuation The real value of meme coins cannot be understood in the same way as traditional assets, such as stocks and physical commodities. These types of assets have fundamentals, such as a company's financial statements, or public demand for basic goods, from coffee to oil. Conversely, the fundamentals of meme coins are reflected in their network activity, such as daily active users, and less concrete metrics, such as social sentiment and —how much public awareness a coin has generated compared with its rivals. Of course, the valuations of traditional assets are also affected by these social factors. The difference is that meme coins offer little by way of productive activity. They add nothing to the economy. Occasionally, their leadership will , but these are generally added as afterthoughts, especially as a way to drum up more speculative excitement. Meme coins troll the traditional conventions of valuation and mock the edicts and dogmas of mainstream investors. And that's exactly the point. Participation in meme coin communities—or any crypto community, for that matter—entails embracing an alternative economic experience. They are speculative sandboxes for playing outside of the conventional rules of investment. Who let the Doge out? Musk is the quintessential meme influencer. As the richest man in the world, he's viewed by many as a paragon of savvy investing. extends far beyond dogecoin's social network. And his promotional efforts are playful—so playful that the judge in his class-action case as mere "puffery" and that "no reasonable investor could rely upon them." Dogecoin previously reached the peak of its memetic momentum when Musk appeared on "Saturday Night Live." Now, instead of sitting at the Weekend Update news desk cracking jokes, he's sitting in Trump's office advising the president-elect. In other words, dogecoin's memetic resonance has ascended from pop culture to politics, helping it capture a bigger slice of the public's mindshare. While dogecoin has specifically benefited from Musk's proximity to Trump, the broader crypto market is leaping with optimism for a crypto-friendly administration. Speaking at the Bitcoin 2024 conference in July, the GOP candidate ensured he'd make the United States " ." After pouring , the crypto industry can now claim 274 pro-crypto members of the U.S. House of Representatives and 20 pro-crypto U.S. senators. Between Musk buddying up with Trump and a shifting regulatory environment, the dog can once again run free. This article is republished from under a Creative Commons license. Read the .
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PHILADELPHIA and NEW YORK , Dec. 27, 2024 /PRNewswire/ -- FS KKR Capital Corp. (NYSE: FSK) today announced that it has completed its previously announced offering of an additional $100 million in aggregate principal amount of its 6.125% notes due 2030 (the "Notes"). The Notes will be a further issuance of, and form a single series with, the $600 million aggregate principal amount of 6.125% Notes due 2030 that FSK issued on November 20, 2024 , increasing the outstanding aggregate principal amount of the series to $700 million . BofA Securities, Inc., BMO Capital Markets Corp., J.P. Morgan Securities LLC, KKR Capital Markets LLC, SMBC Nikko Securities America, Inc., and Truist Securities, Inc. are acting as joint book-running managers for this offering. FSK intends to use the net proceeds of this offering for general corporate purposes, including potentially repaying outstanding indebtedness under credit facilities and certain notes. This announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the Notes, nor shall there be any offer, solicitation or sale in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful. About FS KKR Capital Corp. FSK is a leading publicly traded business development company (BDC) focused on providing customized credit solutions to private middle market U.S. companies. FSK seeks to invest primarily in the senior secured debt and, to a lesser extent, the subordinated debt of private middle market companies. FSK is advised by FS/KKR Advisor, LLC. About FS/KKR Advisor, LLC FS/KKR Advisor, LLC (FS/KKR) is a partnership between FS Investments and KKR Credit that serves as the investment adviser to FSK and other business development companies. FS Investments is a global alternative asset manager dedicated to delivering superior performance and innovative investment and capital solutions. The firm manages over $83 billion in assets for a wide range of clients, including institutional investors, financial professionals and individual investors. FS Investments provides access to a broad suite of alternative asset classes and strategies through its best-in-class investment teams and partners. With its diversified platform and flexible capital solutions, the firm is a valued partner to general partners, asset owners and portfolio companies. FS Investments is grounded in its high-performance culture and guided by its commitment to building value for its clients, investing in its colleagues and giving back to its communities. The firm has more than 500 employees across offices in the U.S., Europe and Asia and is headquartered in Philadelphia . KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. Forward-Looking Statements and Important Disclosure Notice This announcement may contain certain forward-looking statements, including statements with regard to future events or future performance or operations of FSK. Words such as "believes," "expects," "projects," and "future" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements. Factors that could cause actual results to differ materially include changes in the economy, risks associated with possible disruption in FSK's operations or the economy generally due to terrorism, geo-political risks, natural disasters or pandemics such as COVID-19, future changes in laws or regulations and conditions in FSK's operating area and the price at which shares of FSK's common stock trade on the New York Stock Exchange. Some of these factors are enumerated in the filings FSK makes with the SEC. FSK undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Contact Information: Investor Relations Contact Anna Kleinhenn Anna.Kleinhenn@fsinvestments.com FS Investments Media Team Melanie Hemmert Melanie.Hemmert@fsinvestments.com View original content to download multimedia: https://www.prnewswire.com/news-releases/fsk-completes-public-offering-of-100-million-6-125-unsecured-notes-due-2030--302339667.html SOURCE FS InvestmentsEvans started 15 games last season, but he had been relegated to a special teams role this year after the Vikings added veteran cornerbacks Stephon Gilmore and Shaquill Griffin. Evans was a fourth-round pick out of Missouri, one of three defensive backs among Minnesota's first five selections in 2022. Lewis Cine (first round) was waived and Andrew Booth (second round) was traded earlier this year. One of their second-round picks, guard Ed Ingram, lost his starting spot last week. Evans was let go to clear a roster spot for tight end Nick Muse, who was activated from injured reserve to play on Sunday at Chicago. The Vikings ruled tight end Josh Oliver out of the game with a sprained ankle. AP NFL: https://apnews.com/hub/NFL
MIT researchers create 'squid-inspired' capsule to administer drugs without painful injections - Good Good GoodElon Musk's defense of the H-1B visa as a necessary component to empower the American tech workforce has come under scrutiny, especially in light of the lack of such visas needed to keep SpaceX at the top of its field in space exploration and rocket engineering. Why It Matters Musk, along with Vivek Ramaswamy, has been at odds with MAGA faithful over the issue of H-1B visas, which allow foreign workers with specified skillsets to live and work in the United States so long as they have an employer willing to sponsor them. Musk himself benefited greatly from the H-1B visa program, having first entered the U.S. on a J-1 academic visa that he says changed to an H-1B visa. Some of his companies, such as Tesla , rely on the program for their workforce: Tesla brought in 724 employees in 2023 on H-1B visas. However, he also represents a counter-example in his company Space Exploration Technologies Corp., known colloquially as SpaceX. What To Know SpaceX, which is privately held, has an estimated market capitalization of roughly $350 billion , based on a secondary share sale. That would make it one of the top 30 companies by market cap in the country (private companies do not have to publicly release detailed financial data). The company has had a banner year: its Starlink satellite-based internet constellation has grown into a behemoth as traffic tripled in 2024, with Musk himself estimating Starlink could represent at least half of SpaceX's overall valuation. In October SpaceX also demonstrated the reusability of its Starship rocket technology by "catching" its booster with mechanical arms for the first time. To reach those and other milestones, SpaceX has hired just 17 H-1B workers between 2011 and 2024, according to the United States Citizenship and Immigration Services (USCIS). Data on the service's website shows a single H-1B rejection in that period. This is largely because the U.S. has for years mandated the hiring of U.S. citizens and green-card holders over foreign workers for certain sensitive industries and technologies, such as defense, under a set of regulations known as International Traffic in Arms Regulations (ITAR). SpaceX is a significant defense contractor. Other defense contractors operate with similarly few foreign workers. Northrop Grumman does not even come up in the H-1B database, while Lockheed Martin, one of the largest defense contractors in the country, had a grand total of 11 H-1B visas approved. Boeing had just under 100 H-1B visas approved since 2009. Newsweek reached out to SpaceX, Elon Musk and Northrop Grumman by email for comment on Friday morning. By comparison, Big Tech companies that do not contract with the federal government on defense in any significant way have higher numbers: Spotify has had dozens of approved H-1B visas almost every year, especially after the pandemic, with 35 approved in 2020, 43 approved in 2021, 45 approved in 2022, 22 approved in 2023 and 41 approved in 2024. Google pulled around 1,043 H-1B visa approvals in 2024 alone, while the IT consulting firm Cognizant secured 6,321 H-1B approvals this year. What People Are Saying President-elect Donald Trump earlier this year said that anyone graduating from a U.S. college should get a green card automatically in order to keep jobs in the U.S.: "If you graduate from a U.S. college—two-year, four-year, or doctoral—you should automatically get a green card to stay," Trump said during an appearance on "The All-In Podcast" in June. "Too often, talented grads are forced to leave and start billion-dollar companies in India or China instead of here. That success and those jobs should be in America." David Axelrod, President Barack Obama's chief campaign strategist and former Senior Advisor to the President in the White House, wrote on X Friday: "This was one of the inevitable schisms between Elon and the billionaire techies who funded Trump's campaign, and the voters who elected him. They are globalists bankrolling a populist movement for their own purposes." Ed Krassenstein, a Trump-critical influencer, wrote on X Friday: "MAGA is outraged that Elon Musk is pro H-1B Visa. Someone should tell them that Trump Organization and Trump's Mar-a-Lag resorts frequently used H-1B visas to hire employees from outside of America." What Happens Next Musk and Ramaswamy, who have been given charge of the newly created Department of Government Efficiency (DOGE) , have continued to press their case even against the backdrop of a days-long MAGA backlash over the need for H-1B labor. The president-elect, meanwhile, has been quiet on the issue since his remarks during the campaign. Trump will have wide authority to rework the H-1B system should he want it, using executive orders as he did in 2020. Update, 12/27/24 at 2:36 p.m. ET: This story has been updated to correct a spelling error.
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