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Power Black Aims to Disrupt Nigerian Energy Drinks Market

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Power Black Energy drink

By Adedapo Adesanya

Power Black Energy drink, a Turkish energy drink with a presence in over 35 countries across Europe, Asia, Africa and the Middle East, has landed in Nigeria, being the first and only energy drink in Nigeria with a hygienic cover.

Speaking at a recent launch, the Marketing Manager of Frisson Nigeria Limited, the sole distributor of Power Black Energy Drink in Nigeria, Mr Ojotobor Samuel, said Power Black Energy Drink is a premium energy drink that offers Nigerians needed the power to achieve their goals with class and finesse.

Mr Ojotobor said as the first and only energy drink with a hygienic cover in Nigeria, Power Black seeks to encourage healthy consumption of energy drinks whereby consumers do not have to finish the can of drink at a go as it can be preserved with the hygienic cover all day long.

The Frisson Nigeria boss said Power Black Energy Drink is made with clean water, sugar glucose syrup, carbon dioxide, acidity regulator (Citric acid & Sodium citrate), Taurine, Vitamins B2, B3, B5 and B6. These ingredients, according to him enrich the human body with desired energy and account for the positive effect on the cognitive performance of every individual.

He added that there is no negative side effect to Power Black energy drink if consumed in moderation and advised Nigerians that it is healthy to consume everything, including water in moderation.

Validating the claims of the distributing firm, a representative of the manufacturer, Ares Gida Manufacturing-Turkey, Mr Recep Yildiz said Power Black Energy drink is made with finest of ingredients and purest of water and it guarantees good health and energy for Nigerians.

He added that the brand is the leading brand in the energy drinks market of countries like Spain, Germany, United Arab Emirates, Kuwait, Qatar, Jordan, Chad, Ghana, Ivory Coast and Mali.

As the latest entrant in the Nigerian market, the company has noted that the brand will soon take its leadership position in Nigeria.

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UK Affirms Commitment to Regulate Stablecoins Following Terra Meltdown

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The British Treasury Department has affirmed its commitment to regulate stablecoins after the collapse of terrausd (UST) and terra (LUNA). “This will create the conditions for issuers and service providers to operate and grow in the U.K., whilst ensuring financial stability and high regulatory standards,” said an HM Treasury spokesperson.

HM Treasury, the U.K. Treasury Department, is moving forward with plans to regulate payment stablecoins despite a crypto market meltdown last week, The Telegraph reported Saturday.

The affirmation followed the collapse of Terra which saw algorithmic stablecoin terrausd (UST) lose its peg to the U.S. dollar and terra (LUNA) fall to near zero.

A HM Treasury spokesman said:

“This will create the conditions for issuers and service providers to operate and grow in the UK, whilst ensuring financial stability and high regulatory standards so that these new technologies can be used reliably and safely,” the spokesperson added.

Prince Charles delivered the Queen’s Speech last week, outlining the British government’s legislative agenda for the next parliamentary year. Two of the bills put forward specifically mention crypto assets.

The U.K. government unveiled a detailed plan in April to make the country a global crypto hub and “a hospitable place for crypto.” The plan includes establishing a dynamic regulatory framework for crypto, regulating stablecoins, and working with the Royal Mint to create a non-fungible token (NFT) to be issued by summer.

Rishi Sunak, the British chancellor of the exchequer, has said the plan will “ensure the UK financial services industry is always at the forefront of technology and innovation.”

However, the Treasury does not plan to include algorithmic stablecoins in the legislation, saying they do not guarantee stability. Terrausd (UST) is an example of an algorithmic stablecoin.

The HM Treasury spokesperson further detailed:

“We will continue to monitor the wider crypto asset market and stand ready to take further regulatory action if required,” the spokesperson included.

U.S. lawmakers also called for the urgent regulation of stablecoins last week following the fall of Terra. However, Treasury Secretary Janet Yellen believes that stablecoins are currently not a real threat to U.S. financial stability.

What do you think about the U.K. government’s commitment to regulate stablecoins? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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Veteran Investor Bill Miller Remains Bullish on Bitcoin — Confirms He Has a Lot of BTC

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Famed value investor and fund manager Bill Miller says he has “a lot” of bitcoin and has not sold any despite the recent crypto sell-off. He insisted that investors should put some of their liquid net worth in the cryptocurrency.

Famed value investor Bill Miller is still bullish about bitcoin despite recent price declines. He confirmed in an interview with CNBC Thursday that he owns “a lot” of bitcoin and hasn’t sold any.

Miller is the founder of Miller Value Partners and currently serves as its chairman and chief investment officer. He manages the firm’s Opportunity Equity and Income Strategy funds. Prior to Miller Value Partners, he co-founded Legg Mason Capital Management.

He explained that if bitcoin goes down to half its current price, he wouldn’t be surprised due to its volatility. However, “I would be grim because I own a lot of it,” the fund manager said.

Miller was asked, “Are you selling any [bitcoin], have you sold any?” He replied:

However, he clarified that he sometimes sells “stuff” to meet margin calls. “I’ve sold stuff to meet margin calls because I’m always on margin and the stuff that you sell is the stuff that is very, very liquid, for me anyway,” he explained, without mentioning BTC specifically.

At the time of writing, bitcoin is trading at $30,064, up 1.5% in the past 24 hours but down 15.5% in the last seven days and almost 25% in the past 30 days.

Commenting on investors losing money amid crypto sell-offs last week, Miller said: “If people have lost a lot of money in crypto, they have been speculating on the stuff they don’t know anything about, especially if they are surprised to have lost money because most of the ICOs [initial coin offerings] that came around in 2017 have gone to zero.”

There are currently almost 20,000 cryptocurrencies, according to Coinmarketcap. Miller said: “All except for bitcoin, including ethereum, have competition.” He noted that he does not have the expertise to evaluate all crypto projects but is “comfortable with bitcoin.”

Miller was also asked if he thinks bitcoin is a buy at $29,000. He replied:

He added that it is especially true if you lived in countries like Venezuela, Argentina, Lebanon, Turkey, Nigeria, Iraq, Ukraine, and Russia. The famed investor noted: “Russia lost 50% of their reserves when the U.S. decided it was going to sanction them.” He said in March that this is “very bullish for bitcoin.” Miller previously called BTC an “insurance against financial catastrophe.”

What do you think about Bill Miller’s comments? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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