This restaurant chain took a gamble on bitcoin to combat inflation. Here's what happened
COVID-19 pandemic
, the founders of Tahini's, a Canadian fast-casual Mediterranean restaurant chain, took an unusual gamble.
Co-founders and brothers Omar and Aly Hamam took Tahini's cash reserves and invested in cryptocurrency bitcoin. It was a prescient move.
Since March 2020, bitcoin's price has risen from around $5,200 (U.S.) to just under $120,000 (U.S.).
When they first started buying bitcoin, Tahini's CEO Omar Hamam says he was thinking, 'the government's printing money left, right and centre … it's just a matter of time before the inflation hits.'
The brothers and their cousin and business partner, Ahmed Dessouki, considered investing in gold at first, but chose bitcoin in the end to hedge against
inflation
.
'It is volatile, absolutely. But in the long run, you make more money than anything else,' Hamam said about investing in the cryptocurrency, noting there were months at a time when he was worried about having done so. 'I saw (bitcoin's value) go down and I'm like, 'oh my god, is that a good decision?''
Now, Hamam says he sees bitcoin as the natural 'evolution of money.'
'Inflation is affecting everyone, and I feel like the only thing to fight it is bitcoin,' he said.
Both Hamam and Henry Kim, director of the blockchain.lab at York University's Schulich's School of Business, agree bitcoin has recently come to be seen as a more conventional investment, especially as U.S. lawmakers have become more
accepting of cryptocurrencies
under
President Donald Trump
.
Though investing in bitcoin has gained popularity, the practice of
businesses
treating it as a treasury reserve asset, as Tahini's has, is 'still a minority thing to do, and also quite speculative,' said Kim.
Bitcoin 'behaves a lot like gold,' but 'on more steroids,' Kim explained. 'If (the value of) gold goes up, oftentimes bitcoin goes up even more.'
Bitcoin's value fluctuates though, and it was significantly cheaper during the pandemic than it is right now. According to
CoinMarketCap
, the cryptocurrency's market cap currently sits at $2.36 trillion.
That Tahini's has seen success in bitcoin is 'great,' but all it means is that Hamam 'was a great investor,' said Kim. 'There's a bubble in there, and some people that are forming bitcoin treasuries right now will probably get hurt.'
Paul Pincente, vice-president of digital assets at Purpose Investments, has a slightly more optimistic view.
'Responsibly contributing what your business can afford — not going overboard — it's a fantastic strategy,' said Pincente. He acknowledged that investing in bitcoin can be daunting for the non-tech savvy, but said doing so through an
exchange-traded fund
is one way to get around that.
For those considering investing in bitcoin, education, patience and 'knowing that there are other options to exposure that aren't as risky from a loss perspective' is important, said Pincente.
In Tahini's case, its reserve hasn't been dipped into yet.
'We've been saving it for a rainy day,' said Hamam. But when the time comes, 'it's good to know that we have that money in the bank accounts. It makes us feel confident.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hamilton Spectator
21 minutes ago
- Hamilton Spectator
Donald Trump's next target could be deal that shields most Canadian imports from tariffs, experts warn
Canada's biggest shield against U.S. tariffs is still intact after Donald Trump's latest trade deadline, but that could change by next year, experts warn, as Prime Minister Mark Carney prepares for a new round of talks with the mercurial American president. While Trump raised the tariff on Canadian goods to 35 per cent in an executive order Thursday night, an exemption for goods which comply with the Canada-U.S.-Mexico Agreement (CUSMA) was maintained. The order was signed after Ottawa and Washington failed to reach an economic and security deal. That means, most economists agree, that roughly 90 per cent of Canadian exports will still enter the U.S. tariff-free. But, warned BMO chief economist Douglas Porter, that agreement is up for renegotiation in 2026. 'Even though we're in a relatively good spot right now, I don't think that should give us much confidence in the longer term,' Porter said Friday. With CUSMA-compliant goods facing no tariffs, and sector-specific tariffs of 50 per cent on steel and aluminum, Canadian goods currently face an average tariff in the low single digits. But that could easily change when the agreement is renegotiated, Porter added. The fact that Canadian negotiators weren't able to get any agreement lowering the 35 per cent tariff — or cutting sector-specific tariffs — ahead of Trump's Aug. 1 deadline isn't exactly reassuring either, Porter said. 'It really does raise some questions over how smoothly the renegotiation of (CUSMA) is going to go,' said Porter. 'We're going to come into it with the U.S. holding this 35 per cent over our head.' Shortly after midnight on Thursday, just after the hike came into effect, Carney said he was 'disappointed' by Trump's decision, after Canadian officials spent several days this week hunkered down in Washington meeting with U.S. Commerce Secretary Howard Lutnick and representatives of Senate Republicans. 'We remain committed to CUSMA, which is the world's second-largest free trade agreement by trading volume,' Carney's statement read. 'Other sectors of our economy — including lumber, steel, aluminum, and automobiles — are, however, heavily impacted by U.S. duties and tariffs. For such sectors, the Canadian government will act to protect Canadian jobs, invest in our industrial competitiveness, buy Canadian and diversify our export markets.' Dominic LeBlanc, Carney's point-person on Canada-U.S. trade, told Radio-Canada's 'Midi info' that Canadian officials have always maintained that they 'wouldn't accept just any agreement.' 'We'd accept an agreement that was in the interests of workers, of the Canadian economy, and at the end of the day yesterday that agreement wasn't in sight,' LeBlanc said Friday, as he was set to leave Washington after meeting with Lutnick on Thursday. The head of the association representing small businesses said Canada avoided the worst-case scenario this week by keeping CUSMA-compliant goods tariff-free, but said the country is not out of the woods yet. In next year's renegotiation, the U.S. could give preferential status to goods which comply with CUSMA — but that doesn't mean they'd still be duty free, warned Dan Kelly, CEO of the Canadian Federation of Independent Business. 'That's absolutely one of the prospects I fear,' said Kelly of the idea that U.S. negotiators would try to put tariffs on CUSMA-compliant goods. 'There's also nothing stopping him from pulling out of CUSMA altogether. That would be the nuclear scenario.' A senior official with the Canadian Chamber of Commerce also said Canadian businesses need to be wary of the CUSMA revamp, and any lingering uncertainty until it's completed. 'The review could start Monday,' said Matthew Holmes, the chamber's head of public policy. 'But we're going to be talking about CUSMA until 2026, and that's the third act of this play.' At the moment, Holmes estimated, Canadian exports to the U.S. face an average tariff of anywhere from 2.9 to five per cent, which still gives this country the best treatment of any American trading partner. Still, Holmes isn't under any illusion that that low rate will continue — even if Canada's access remains better than most. 'I think it's reasonable to expect they come to the table with a baseline tariff,' Holmes said of U.S. negotiators. 'If they establish a floor of 15 per cent on the world and we come in at 10, we're in relatively good shape, but it's still not great for our businesses.' For sectors like steel and aluminum which still face targeted tariffs, the continuation of the CUSMA exemption didn't provide much comfort at all, said Catherine Cobden, CEO of the Canadian Steel Producers Association. 'What we see is some of our largest trading allies, both with us and the United States, accepting and normalizing 50 per cent tariffs,' said Cobden. 'That cannot happen in the case of Canada.' 'We don't have months to wait for a USMCA process. We are in the thick of it now,' she said. Dan Ujczo, an Ohio-based international trade lawyer, said in spite of sectoral pressures, Canada needs to get a clearer sense of the deals the White House has struck with the European Union, Japan and South Korea. 'Canada and Mexico started these negotiations with the best access to the United States in the world. They don't want to put themselves in a position now to accept a deal where that's going to get them less access to the United States than any other trading partner, so I think we still need to see what those other parties have agreed to,' said Ujczo, who has also worked for both Canadian and U.S. governments. Ujczo also said it's time for Carney and other Canadian political leaders to dial down the partisan rhetoric. On Friday, the Conservatives and the NDP accused Carney of failing to improve circumstances for Canadian workers. 'This is a negotiation,' Ujzco said. 'The political campaigns are over now.'
Time Business News
25 minutes ago
- Time Business News
Protecting Your Privacy With Offshore Identities
**VANCOUVER, British Columbia —**As privacy erodes under the weight of mass surveillance, biometric data collection, and digital profiling, more individuals are exploring a solution that is not only legal—but practical: offshore identities. These identities, when established through lawful means such as legal name changes, second citizenships, and international residency, offer a powerful buffer between individuals and the institutions or actors that track, monitor, or exploit personal data. Contrary to the stereotype of offshore identities being tools for deception, they are increasingly viewed as mechanisms for self-preservation, used by professionals, activists, entrepreneurs, and families to reclaim control over their personal lives. Through careful structuring, these offshore identities enable people to reduce their visibility to prying systems while fully complying with international law. Amicus International Consulting, a leader in discreet legal identity solutions, explores in this report how privacy-conscious individuals are using offshore identities to build safer, more autonomous lives. The Erosion of Privacy in the 2020s From financial institutions and government agencies to social media companies and data brokers, the ecosystem of surveillance has never been more intrusive. Artificial intelligence, facial recognition, behavioral algorithms, and smartphone tracking have created a world where privacy is no longer the default—but a privilege earned through strategy. In 2025, the average person has more than 2,000 data points stored across global systems—from banking histories and location data to biometric identifiers. For those facing reputational risk, targeted harassment, political instability, or even simple overexposure, this creates significant vulnerabilities. Case Study: Data Breach Victim Opts for Privacy Shield A Canadian e-commerce entrepreneur suffered a massive privacy breach in 2023 when hackers accessed her professional accounts and exposed financial records. She endured public shaming, extortion attempts, and threats to her safety. In response, she used Amicus International Consulting to initiate a legal name change, establish a second residency in Portugal, and create a new corporate structure in Cyprus. Her new identity, layered through offshore residency and reissued credentials, now serves as a privacy firewall. She runs her new business anonymously and legally. Offshore Identity: Defined and Demystified An offshore identity is a legally established personal or corporate identity created through mechanisms in jurisdictions other than one's home country. These identities are fully supported by national and international law and may include: Legal name changes through recognized court or administrative processes Dual or second citizenship obtained via Investment, descent, or residency Residency permits and tax identification numbers in privacy-respecting nations Offshore companies, trusts, and foundations with nominee structures ID cards, passports, and legal instruments issued by foreign governments Unlike false identities, these structures rely on transparency, lawful issuance, and mutual recognition under treaties such as the Hague Apostille Convention and Vienna Consular Agreements. Legal Protections Embedded in International Frameworks Several legal doctrines support offshore identities: Sovereign Right to Nationality: Each state determines who its nationals are and what identity documentation it issues. Right to Privacy: Articles in the Universal Declaration of Human Rights and the International Covenant on Civil and Political Rights protect individuals from arbitrary interference. Freedom of Movement: Includes the right to leave any country and to choose a country of residence. Mutual Recognition of Civil Status: Allows lawful identity documents from one country to be validly used in others. These principles create a framework within which a legally issued offshore identity becomes an effective and protected tool for personal privacy. Case Study: Political Activist Escapes Biometric Tagging A South Asian activist advocating for minority rights was placed on a biometric watchlist by his home country. Facing detention and permanent tracking, he reached out to Amicus International. He secured Dominican citizenship via Investment and a legal name change in Central America. His biometric data—collected under his original identity—could no longer match his new profile. International law protected his status, and he relocated to a non-extradition country, continuing his work in safety. How Offshore Identities Protect Privacy in Real Terms The protections provided by offshore identities are not theoretical—they are practical. They can shield you in the following ways: Banking Under a New Identity : Open international accounts disconnected from your prior credit reports or KYC trails. : Open international accounts disconnected from your prior credit reports or KYC trails. Avoiding Data Brokers : By using new identities, your data no longer feeds into existing surveillance networks. : By using new identities, your data no longer feeds into existing surveillance networks. Social Media Freedom : Disconnect your digital life from legacy profiles through name changes and IP geolocation from new jurisdictions. : Disconnect your digital life from legacy profiles through name changes and IP geolocation from new jurisdictions. Reputation Management : Rebuild your online footprint using legally obtained credentials and domain registrations. : Rebuild your online footprint using legally obtained credentials and domain registrations. Travel Anonymity: Use new passports and residency cards to travel without triggering biometric alerts linked to former documentation. Case Study: Reputation Reboot for a Tech Executive A tech executive in the U.S. was falsely accused of misconduct, resulting in public backlash and career sabotage. Though cleared legally, the Internet preserved the accusations indefinitely. Working with Amicus, he secured a second passport through Antigua, relocated to Asia under a new identity, and started a new consulting firm using a Singapore-based corporate structure. Today, he manages million-dollar contracts under a new name, all legally documented and tax-compliant. Offshore Structures and Corporate Identity Shielding Beyond personal use, offshore identities also serve in corporate contexts. High-net-worth individuals and businesses use layered legal entities to separate control from visibility. Examples include: Belize Trusts and Panama Foundations : Remove personal names from public registries while maintaining legal control. : Remove personal names from public registries while maintaining legal control. Nevis LLCs with Nominee Directors : Allow business operations under third-party names with private agreements ensuring actual governance. : Allow business operations under third-party names with private agreements ensuring actual governance. Malta and Cyprus Holding Companies: Permit re-registration of intellectual property and digital assets under new ownership while maintaining operational secrecy. These structures are recognized under international business law and protected by jurisdictional sovereignty. Case Study: Crypto Founder Uses Offshore Layers for Safety A blockchain entrepreneur faced extortion threats after a crypto token he launched spiked in value. To protect himself, he moved operations offshore. Amicus helped him form a Seychelles IBC owned by a Liechtenstein foundation, with banking in Mauritius. His data was removed from all registries, and only the offshore entity was visible to the public. This legal setup allowed him to continue development safely. Digital Footprint Erasure and Rebuilding Once a new offshore identity is established, clients often pursue a structured digital erasure campaign. Key steps include: Closing accounts linked to prior identities Deleting old social media and website content Replacing domain registrations under new corporate names Requesting de-indexing under international privacy rights (e.g., GDPR 'right to be forgotten') Using VPNs and offshore servers for any remaining public activity Combined with a second passport or legal name change, these steps form the backbone of a truly private modern life. Navigating Legal and Ethical Lines At Amicus International, privacy strategies are implemented with strict adherence to legality. No false documents, no tax fraud, and no concealment of criminal activity are permitted. Every offshore identity plan undergoes due diligence and AML compliance. In 2025, legal identity transformation is less about secrecy and more about discretion. With proper planning, anyone facing political risk, reputational threats, or digital overexposure can step into a life of safety without breaking the law. Case Study: Whistleblower Relocates With Legal Identity Change An EU government contractor blew the whistle on illegal data-sharing between agencies and private firms. Fearing retaliation, she contacted Amicus and was guided through acquiring a legal identity in the South Pacific, complete with new credentials, banking access, and secure residency. She now lives off-grid, consults internationally, and maintains her integrity—all without jeopardizing her security. Conclusion: Offshore Identity Is the Future of Personal Privacy As traditional privacy collapses, offshore identities provide one of the last fully legal, fully effective ways to protect oneself. Whether used to escape harassment, avoid data tracking, or rebuild a life after reputational damage, these tools are not loopholes—they are lifelines. The key is not just to create a new identity, but to do so with clarity, strategy, and legality. Amicus International Consulting leads clients through every stage of this process, ensuring full compliance with international law while building a structure that offers genuine peace of mind. Contact InformationPhone: +1 (604) 200-5402Email: info@ Website:
Yahoo
an hour ago
- Yahoo
How to avoid expensive airport ‘kiss and fly' charges
If you're giving someone a lift to the airport this summer, watch out for 'kiss and fly' fees – the charges airports impose for dropping passengers near the terminal. More than half of UK airports have increased these fees since last July, with some now demanding as much as £7 for a 10-minute stop, according to research by the RAC. Fortunately, there are ways to avoid these charges, or at least keep them to a minimum – but you may need to be prepared to walk a little further with their luggage. Here, Telegraph Money explains how kiss and fly fees work, why they have been introduced and what you can do to keep costs down. What are 'kiss and fly' fees? Why have so many airports introduced kiss and fly fees? Who pays kiss and fly fees and how much do they cost? How can you avoid kiss and fly fees? What are 'kiss and fly' fees? 'Kiss and fly' fees refer to the charges that airports apply when someone drops off a passenger outside the terminal, typically in a designated short-stay or drop-off zone. In most cases, you'll be charged a flat fee simply for stopping outside the airport for five to 10 minutes. Stay longer, and you'll likely be charged even more. On top of this, many airports are now switching to a barrier-less drop-off and pick-up system to help traffic flow more freely and reduce waiting times. However, this means that instead of paying there and then, drivers must remember to pay for parking either online or by phone once they are home. Failing to do so could result in penalty fees of up to £100. Why have so many airports introduced kiss and fly fees? One of the reasons airports say they have introduced these fees is to reduce congestion at terminal entrances. However, the charges also serve as a significant source of revenue, helping airports to cover rising operational costs. Patrick Bettle, from the aviation team at law firm Burges Salmon, said: 'Ultimately airports are businesses like any other. 'Kiss and fly' fees provide them with another valuable revenue stream, something that has become increasingly important in the wake of the disruption caused to the travel industry by the Covid-19 pandemic. 'Airports, particularly those that are subject to economic regulation by the Civil Aviation Authority, are limited in the amount of revenue they can generate through things like landing charges; 'kiss and fly' fees provide a useful non-aeronautical supplement to that.' But the disappearance of free drop-offs at UK airports is in sharp contrast to other major European airports, says the RAC analysis. Of the top 10 airports in the EU by passenger numbers, eight airports still permit free drop-offs, including Paris Charles de Gaulle, Madrid, Frankfurt, Barcelona and Rome. Who pays kiss and fly fees and how much do they cost? Kiss and fly fees must be paid by anyone dropping off a passenger outside the airport terminal. This includes friends and family members, as well as taxi and private hire drivers. Taxi drivers often incorporate the fee into the overall taxi fare but be sure to check. Drop-off charges can range anywhere from £3 to £7 for a five-to-30-minute stay. The table below outlines how these fees can vary, depending on the airport. Note that if you exceed the time allowed, you'll often be charged extra for each minute you stay. You'll also need to check how and when the payments need to be made – whether that's on-site or within 24 hours online or by phone. Missing this deadline could result in penalty charges. For drivers carrying out regular drop-offs, it may be worth setting up an auto pay account. How can you avoid kiss and fly fees? Some airports, including Heathrow, Edinburgh, Liverpool and Birmingham, waive drop-off fees altogether for Blue Badge holders. For everyone else, the best tip is to plan ahead, according to Nicholas Smith, holidays digital director at Thomas Cook online travel agency. He said: 'Ask someone to drop you off at a long-stay car park – many airports offer free or cheaper short-term access there – and then take the shuttle to the terminal.' Most airports outline their parking options on their websites. But if you're parking further away, remember to factor in the extra time it will take to get to the terminal – either by foot or shuttle bus. This won't always be practical for those with mobility issues, lots of luggage, or anyone rushing for their flight. Here are a number of free parking options available at some UK airports: London Heathrow: Free parking is available for up to 29 minutes in one of Heathrow's 'park and ride' car parks (previously called long stay parking). A free shuttle bus will transfer passengers to the terminal. London Gatwick: You can park for free in the long stay car park, provided your stay doesn't exceed two hours. The shuttle bus takes five to 10 minutes for the South Terminal and seven to 12 minutes for the North Terminal. London Stansted: There's a free drop-off or pick-up option at the mid stay car park for up to 60 minutes. The shuttle bus takes seven minutes to get to the terminal. Luton: You can park at Luton airport's mid stay car park for up to 15 minutes free of charge. It's then a 10-minute walk to the terminal or a five-minute shuttle bus ride. Alternatively, you can park for up to an hour free of charge at the long stay car park. From there, the free shuttle bus takes 10 minutes to get to the terminal. Birmingham: Instead of paying to drop-off at Birmingham airport's Premium Set Down area, you can park for free at the Drop-Off zone for up to 10 minutes. It's a five- to 10-minute walk to the terminal or there is a free bus service. Manchester: There's a free drop-off area which, according to the airport's website is clearly signposted from the M56, where passengers can take a six-minute shuttle bus ride to the terminal. Edinburgh: You can park in the long stay car park for 30 minutes free of charge. The walk to the terminal is 10 minutes. Cardiff: Free parking is available for the first 20 minutes in Car Park 2. It's a short walk to the terminal, or there is a special assistance vehicle for those with reduced mobility. Belfast International: You can park free of charge for up to 15 minutes in the long stay car park. There is a six-minute walk to the terminal. Although you may be tempted to park on a road just outside the airport, this is not advisable. As well as potentially being unsafe, many airports enforce no-stopping zones and have CCTV to catch those who don't follow the rules. Mr Smith added: 'If you really have to drop someone off at the terminal, do so as quickly as possible to avoid racking up per-minute costs.' Of course, you can avoid drop-off fees altogether by using public transport. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Solve the daily Crossword
