Cryptocurrency
Bitcoin price drops below $60,000 may result to panic selling-Expert warns
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 […]
Staff WriterIMF advises Nigeria to establish robust Crypto regulatory framework
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, […]
Staff WriterStakeholders decry CBN’s clampdown on Cryptocurrency
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 […]
Staff WriterNigerian authorities deny Binance CEO’s bribery allegations
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 […]
Ibukunoluwa Josephine BankoleBinance executive accuses Nigerian officials of demanding $150 Million in bribes
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 […]
Ibukunoluwa Josephine BankoleNigeria to delist naira from peer-to-peer platforms to curb manipulation
Nigeria’s Federal Government, through the Securities and Exchange Commission (SEC), has announced plans to delist the naira from all Peer-to-Peer (P2P) platforms. This move aims to reduce the manipulation of the local currency value in the foreign exchange market. Emomotimi Agama, the SEC’s Director General, revealed this decision during an interactive session with the Nigerian […]
Ibukunoluwa Josephine BankoleThe battle between Nigerian fintechs and crypto users
The Nigerian central bank has had a patchy record regarding cryptocurrencies, and this crackdown runs against a 2021 decision to make opening cryptocurrency accounts easier. Some Nigerian financial companies have warned customers against utilising their accounts for crypto transactions or face severe consequences as the country regulates cryptocurrency. Read also: OPay, Kuda, Moniepoint, others pause […]
Modupeoluwa OlalereBinance founder faces four-month jail term in the United States
Changpeng Zhao, the founder of cryptocurrency firm Binance, has been sentenced to four months in a US prison after pleading guilty to money laundering charges. This marks one of the most significant developments in the crypto industry since the imprisonment of Sam Bankman-Fried. Investigations by two Treasury agencies revealed that Binance failed to prevent transactions […]
Ibukunoluwa Josephine BankoleSouth Africa’s Crypto exchange, VALR eyes global markets
South Africa’s leading cryptocurrency exchange, VALR, is set to broaden its crypto asset services beyond its home turf, targeting international markets like Poland and beyond. CEO Farzam Ehsani revealed to Reuters the company’s ambitious plans to compete with global crypto giants by offering similar products and services while ensuring regulatory compliance in each jurisdiction. Read […]
Ibukunoluwa Josephine BankoleNoones Academy Empowers Nigerians with Cryptocurrency Trading Education
Noones Academy, a cryptocurrency company, has launched a comprehensive digital training program to empower aspiring traders with the knowledge and skills they need to navigate the dynamic world of digital assets. This initiative is in response to the growing popularity of cryptocurrency trading in Nigeria. The training, which commenced on Friday, is designed to demystify […]
Ibukunoluwa Josephine BankoleSMOG rewards over 11 Million completed quests
Solana-based meme coin Smog Token (SMOG) has successfully concluded its first two airdrop seasons, distributing rewards for a staggering number of quests completed by participants. Solana is an American Crypto company based in San Francisco, California. This high level of engagement, exceeding 11 million quests, highlights the strong sense of community surrounding the project. During […]
Ibukunoluwa Josephine BankoleThe ultimate guide to understanding cryptocurrency: tips to exceling
Welcome to the final instalment of our comprehensive guide to understanding cryptocurrency! In parts one and two of our series, we embarked on a journey through the fascinating world of digital currencies, starting with the basics of Bitcoin and progressing to advanced concepts like altcoins, DeFi, NFTs, and DAOs. In part one, we demystified the […]
Ibukunoluwa Josephine BankoleA guide to understanding cryptocurrency: Beyond Bitcoin
Welcome back to our series on understanding cryptocurrency! In part one, we tackled the basics of Bitcoin terminology, clarifying essential concepts like blockchain, digital wallets, mining, HODLing, and forks. So, you’ve dipped your toes into cryptocurrency with our beginner’s guide to Bitcoin terminology. Armed with the foundational understanding, let’s dive deeper into advanced concepts that […]
Ibukunoluwa Josephine BankoleThe ultimate guide to understanding cryptocurrency: A road map
Understanding cryptocurrency can be a bit like trying to navigate a maze without a map. Many people find themselves scratching their heads, puzzled by the unfamiliar terms and concepts that surround this digital currency. From blockchain to mining, the world of cryptocurrency is filled with jargon that can leave even the savviest tech enthusiasts feeling lost. […]
Ibukunoluwa Josephine BankoleBinance: Gambaryan’s detention extends as bail hearing faces delays
The legal team representing Tigran Gambaryan, a top executive at Binance, voiced concerns over his prolonged detention at the Kuje correctional centre despite pending bail proceedings before the Federal High Court, Abuja. Mark Mordi SAN, Gambaryan’s lawyer, expressed dismay over his client’s continued incarceration, emphasising the unfairness of the situation during a recent court session […]
Ibukunoluwa Josephine BankoleKenya’s Bitcoin miners find ways to bring electricity to rural homes
In a remote region of Kenya, near Hell’s Gate National Park, a group of Bitcoin miners has found an innovative way to power their operations and bring electricity to rural homes. They have set up shop at the site of an extinct volcano, utilising a mobile container equipped with solar power and energy from a […]
Ibukunoluwa Josephine BankoleSouth Africa releases list of 75 newly licensed crypto firms
The Financial Sector Conduct Authority (FSCA) has released a comprehensive list of all 75 licences issued to crypto asset service providers (Casps) in light of claims by certain institutions that they are the ‘first’ or ‘only’ ones to receive their licences. The FSCA clarified that it has approved 75 institutions to be licensed as casinos […]
Ibukunoluwa Josephine BankoleKenya agrees to send fleeing Binance executive to Nigeria
Following his weekend arrest in Kenya, Kenyan authorities are preparing to deport Nadeem Anjarwalla, a Binance executive the Nigerian government wanted. Anjarwalla, Binance Africa’s regional manager, faces charges related to tax evasion and the use of illegal passports. A joint operation involving the EFCC, Nigeria Police Force, Kenya Police Service, FBI, and INTERPOL led to […]
Ibukunoluwa Josephine BankoleChina warns its nationals after Angola bans crypto mining
The Chinese Embassy has cautioned Chinese Bitcoin miners in Angola following the official ban on crypto mining in the Southern African country. Earlier this year, the Angolan parliament passed legislation criminalising cryptocurrency mining and related virtual assets to safeguard national energy security. The ban, effective on April 10, prompted the Chinese embassy to warn its nationals […]
Ibukunoluwa Josephine BankoleSouth Africa Issues Crypto licences to Luno, 59 others
In a significant development for South Africa’s crypto industry, the Financial Sector Conduct Authority (FSCA) has commenced the issuance of licences to up to Luno and 59 other crypto companies. Among the pioneering batch of licensed entities stand prominent names like Luno and Zignaly, marking a pivotal moment in the sector’s regulatory journey. The FSCA’s […]
Ibukunoluwa Josephine Bankole