With reference to “recent changes in local laws and regulations,” OKX, a worldwide cryptocurrency exchange and provider of web3 services, has stated that it will stop operating in Nigeria on August 16, 2024. Users received this notice via email from the exchange, which explained that the action was taken in response to its continuous evaluation […]

On Tuesday, the Nigeria Police Force announced that Linus Williams, a self-described cryptocurrency billionaire, had been taken into custody on charges of fraud, financing of terrorism, and failure to comply with national regulations. Williams, the CEO of the Blord Group of enterprises, will be the subject of due diligence during the inquiry, according to Force […]

At the height of the crypto excitement in 2021, Africa’s involvement in the expanding crypto economy attracted a lot of calls. Experts desperately urged the continent to engage and create creative goods and educate its young population about possible Web3 prospects. The desire came true as Mara (CoinMara Inc.), a pan-African exchange meant to “build […]

Zimbabwe has announced its intention to initiate consultation regarding the operation of crypto assets in a news release issued by Reuters. This action occurs in response to the government’s implementation of regulations for this industry. A statement released in the state-owned newspaper invites all participants in the cryptocurrency sector to contribute their insights, including entities […]

The Nigerian Senate Committee on Capital Markets has called for the regulation of cryptocurrency. This move is in a bid to protect investors and stabilise the Nigerian economy,  Committee chairman Osita Izunaso emphasised that regulation is essential since authorities have failed to stop Nigerians from trading digital assets. Izunaso’s comments followed a session with Emomotimi […]

Solana, a well-known blockchain platform known for its fast transactions and low costs, recently made headlines when it announced the start of $DAVIDO, a new cryptocurrency backed by Nigerian superstar Davido.  This launch was a big step into the world of digital assets backed by celebrities. The goal was to combine Davido’s huge fan base […]

Kenyan cybersecurity company Kristel has broadened its reach into Ethiopia, Rwanda, and Uganda as a reaction to the growing number of companies in in need of its services in the region. Kristel as a firm helps organisations to invest in their various cyber hygiene, giving strength to their defences and protecting themselves against cyber threats […]

The price of Ethereum (ETH) surged over 16% on Monday, driven by growing speculation about the approval of a spot Ethereum ETF.  This speculation was sparked by a statement from Bloomberg’s senior ETF analyst, Eric Balchunas, who raised his odds of spot ETF approval from 25% to 75% on his X handle.  Balchunas considered a […]

Prominent cryptocurrency analyst and FX Pro trader Alex Kuptsikevich has issued a warning, stating that if Bitcoin falls below $60,000 in the next few days, there may be a big panic sell-off. Before the market is considered positive, cryptocurrency traders, based on market sentiment, are looking for a break of above $65,000. Bitcoin has been […]

The International Monetary Fund (IMF) has advised the Nigerian government to establish a robust regulatory framework for cryptocurrency trading, recommending that global crypto trading platforms be registered or licensed in Nigeria and subject to regulatory requirements.  This move aims to ensure that cryptocurrency transactions are conducted securely and transparently, minimising money laundering risks, terrorist financing, […]

Stakeholders in the blockchain industry have blamed Nigeria’s cryptocurrency trading challenges on the policies of the Central Bank of Nigeria (CBN) and the actions of dishonest players. According to them, the clampdown on Crypto could now allow dishonest people who traded cryptocurrencies to change currencies and hurt the economy even more. It is believed that […]

Nigerian authorities have vehemently denied allegations by Binance’s CEO, Richard Teng, accusing unnamed officials of soliciting a $150 million cryptocurrency bribe.  The Nigerian Information Ministry spokesperson, Rabiu Ibrahim, described the claims as baseless and an attempt by Binance to divert attention from the criminal charges it faces in Nigeria. Binance and two executives are embroiled […]

Richard Teng, an executive at Binance, accused Nigerian government officials of soliciting bribes amounting to $150 million from the cryptocurrency giant. Teng disclosed that the demand came after a meeting with Nigerian lawmakers, although their direct involvement remains uncertain. “We will not yield to illegal demands or coercion,” stated Teng unequivocally. Binance executives maintain that […]