The largest cryptocurrency exchange in the world, Binance, reported a sharp rise in customer fund deposits in 2024, hitting $21.6 billion. Citing information from DefiLlama, a company that offers analytics and data pertaining to decentralised finance, the digital currency platform disclosed the information in a statement on Thursday. Compared to the $15.9 billion total that […]

Yellow Card, a prominent crypto exchange in Africa, on Thursday announced its intent to secure regulatory approval from Nigeria’s Securities and Exchange Commission (SEC).  This move follows the company’s recent acquisition of a Crypto Asset Service Provider (CASP) licence in South Africa, showcasing its commitment to expanding its operations in Nigeria’s evolving crypto landscape. Read […]

Alex Mashinsky, the creator of the failed cryptocurrency lending platform Celsius Network, entered a plea of guilt to fraud charges in a federal court in New York on December 3, 2024. This was an essential event in the ongoing fallout from Celsius’s bankruptcy in July 2022, which left thousands of investors without money. Read also: […]

Bitmama, a crypto-fiat exchange that allows traders to buy and sell Bitcoin, Ethereum, Celo and other digital assets, has paused its card services because of unresolved issues with its Mastercard provider, adding to a growing list of fintechs dealing with similar challenges. In an announcement to its users on Saturday, Bitmama explained that it was […]

Bitcoin reached a new all-time high on November 22, 2024, nearing the significant $100,000 mark in a remarkable rally fuelled by optimism over a potentially crypto-friendly regulatory landscape under the incoming Donald Trump administration. The cryptocurrency has more than doubled in value this year, surging approximately 45 percent since the sweeping Republican election victory on […]

Yellow Card, a prominent cryptocurrency exchange, has obtained a Crypto Asset Service Provider (CASP) licence from the Financial Sector Conduct Authority (FSCA) in South Africa. This milestone, which was made public earlier today, significantly improves Yellow Card’s capacity to provide secure and regulated cryptocurrency services. This achievement establishes Yellow Card as a compliant participant in […]

South Africa’s real estate market is transforming as it officially embraces cryptocurrency as a viable payment method for property purchases. This landmark development was announced on Monday and is set to revolutionise how transactions are conducted in the property sector. The announcement and its significance The integration of cryptocurrency into property transactions results from a […]

Bitcoin, the world’s largest cryptocurrency, reached a new milestone, topping $89,000 on Monday. This surge follows Donald Trump’s U.S. presidential victory, which many in the industry believe could bring more favourable crypto policies. Analysts attribute the climb to optimism around Trump’s promises to make the U.S. “the crypto capital of the planet.” He has pledged […]

Cryptocurrency has become the toast of many Africans as a means of wealth creation. Spiritual leaders in the continent are not only throwing their weights behind the digital currencies, they are also urging their congregation to make a significant investment in them. Despite the cautionary guidance and stance taken by regulators like the Bank of […]

African cryptocurrency groups on Telegram have grown by a staggering 189 percent since early 2023, according to an analysis by Bitget on October 30. The research indicated that there was a shift in digital asset usage from the Western to emerging economies. Exploring the youth-driven crypto movement on Telegram  Crypto-focused Telegram groups in Africa now […]

Bamboo, a platform that allows Africans to invest in the global stock market, on Thursday, introduced the remittance app “Coins by Bamboo” to ease money transfers from other continents to Africa. Through the iOS and Android app, users may take advantage of fee-free transactions and favourable exchange rates. In addition, Bamboo has acquired a Money […]

The White House thanked the Nigerian government for releasing Binance executive Tigran Gambaryan on humanitarian grounds, according to a statement signed by the U.S. National Security Adviser, Jake Sullivan. “I am pleased that American citizen and former U.S. law enforcement official Tigran Gambaryan has been released on humanitarian grounds by the Nigerian government and he […]

Binance Holdings executive Tigran Gambaryan flew out of Nigeria on Thursday, having languished in the African nation’s custody for eight months over money-laundering allegations against the cryptocurrency platform. Mr Gambaryan’s departure was contained in a statement written by his wife on Thursday. What was supposed to be an official visit in March for Binance executives […]

Tax agencies across Africa are targeting cryptocurrency holders in a bid to identify tax evaders using digital assets. These digital currencies’ borderless nature and minimal regulation have made them appealing to users but challenging for authorities to monitor. With the rise of crypto transactions on the continent, tax bodies see an opportunity for additional revenue. […]

The Abuja Division of the Federal High Court has freed Binance executive Tigran Gambaryan from a case of money-laundering instituted by the Economic and Financial Crimes Commission (EFCC). The Nigerian government on Wednesday withdrew all charges levelled against Mr Gambaryan stating he was only a staff of Binance Holdings and could not be held liable […]

On October 4, Lego’s website displayed an unexpected message urging users to purchase a “Lego coin,” promising exclusive rewards for those who did. However, Lego had no plans to launch its cryptocurrency, making it clear this was a scam. The message redirected users to a site offering Ethereum-based “LEGO Tokens,” signalling a cyberattack, as reported […]

The Economic and Financial Crimes Commission (EFCC) has obtained court orders freezing accounts linked to cryptocurrency services ByBit and KuCoin, totalling N548.6 million, or around $670,000. The platforms’ alleged contribution to the further depreciation of the naira is the subject of this motion, dated September 3, 2024. Read also: Clampdown on crypto exchange continues as […]

The Economic and Financial Crimes Commission (EFCC), Nigeria’s anti-graft agency, has obtained an order from the Federal High Court of Nigeria to freeze N548.6 million in bank accounts of suspected cryptocurrency users on ByBit, KuCoin, and other platforms due to their alleged involvement in naira fluctuations. The court froze the cash based on a September […]

According to SiBAN President Obinna Iwuno, Nigeria leads cryptocurrency regulation in Africa. This happened after the Nigerian SEC legalised Quidax and Busha crypto exchanges. Iwuno shared his thoughts on this development during a conversation with a media report, highlighting that the SEC’s actions not only enhance Nigeria’s reputation but also pave the way for more […]

The Head of the apex bank’s Legal Services Department and the Governor of the Central Bank of Nigeria (CBN) have been summoned by a Federal High Court in Abuja, Nigeria, to appear before it on Monday, September 2, with specific documents. This is the new date for the trial to continue in the money laundering […]