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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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. […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

The Economic and Financial Crimes Commission (EFCC) is gearing up for a significant legal showdown as it prepares to formally charge Tigran Gambaryan and Nadeem Anjarwalla, two high-ranking officials of Binance, one of the world’s largest cryptocurrency trading platforms. This impending legal action stems from allegations of money laundering, totalling over $35.4 million, a staggering […]

APEX, a leading player in Africa’s financial landscape, has unveiled a bespoke service aimed at enhancing the ease, accessibility, and rewards associated with cryptocurrency trading and digital exchange for individuals and businesses across the continent. The company, well-known for its user-friendly digital exchange platform, prides itself on delivering a seamless experience for users engaging in […]