The Central Bank of Nigeria (CBN) reportedly frozen bank accounts belonging to four fintech firms for up to 180 days after a Federal High Court in Abuja acceded to an “ex parte motion.” The ex parte motion, which is a form of temporary suspension, was granted after a Nigerian chief, Micheal Kaase Aondoakaa, filed the …
Monthly archives: August 2021
Survey Shows 3 in 4 Crypto Investors Turned a Profit Investing, Crypto Represents 12% of Millennial Portfolios
Digital currencies have seen significant gains in 2021 jumping 154% in value since January 1. On August 18, Cryptovantage published a study that shows 3 in 4 crypto investors said they had made money on their crypto holdings and cryptocurrencies represent 12% of the average millennial portfolio. 3 in 4 Digital Currency Investors Have Profited …
Coinbase Partners With MUFG to Launch Operations in Japan
Leading US-based cryptocurrency exchange Coinbase announced it will launch operations in Japan yesterday. The exchange will be partnering with Mitsubishi UFJ Financial Group (MUFG), a banking institution with more than 40 million customers, to make it easy for residents of Japan to purchase and sell cryptocurrencies. Coinbase Launches in Japan Coinbase, one of the leading …
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iBG: The Insured (POSI) DeFi Token Begins Its Highly Anticipated Yield Farming
PRESS RELEASE. Singapore – Following the much-awaited launch of the world’s first and only insured (POSI) DeFi token on PancakeSwap, iBG users can now expect the roll-out of yield farming, which will give every member of the community more opportunities at maintaining liquidity and scaling their wealth. Decentralized Finance (DeFi) has created a surge of …
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Whales Move Nearly $1,000,000,000 in Ethereum As Markets Pull Back – Here’s Where the Crypto Is Going
Whales moved nearly $1 billion in Ethereum (ETH) across 15 separate transactions during Tuesday and Wednesday, according to the crypto tracker Whale Alert. After pumping to more than $3,320 in price at various points over the weekend, ETH has since tumbled down to a price of $2,988 at time of writing, according to CoinGecko. The …
Thailand’s central bank outlines safeguards for a future retail CBDC
The Bank of Thailand has published the results of a new study into how to manage the implications of issuing a retail central bank digital currency (CDBC) for the country’s financial sector. As distinct from a wholesale CBDC, which is limited to use by financial institutions and intermediaries, a retail CBDC is widely available for …
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Nvidia fails to sell as many crypto-mining GPUs as expected in Q2
Nvidia beat the expectations by generating over $6.5 billion in revenue, but the chip manufacturer missed the target for its crypto-mining GPU line. The California-based tech giant announced its financial results for its second fiscal quarter ended Aug. 1, 2021. Key highlights include $6.51 billion in revenue, 15% up from the first quarter, and $1.04 …
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Top-five UK university joins Hedera governing council
The London School of Economics and Political Science (LSE) have officially joined Hedera Hashgraph’s panoply of 39 global governing council members, confirming their place as the second academic institution to support the blockchain platform following UCL’s admission last year. Hedera Hashgraph is an enterprise-grade distributed ledger technology designed to support the creation of new and …
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New data suggests Bitcoin could see BTC price ‘double bubble’ top in 2021
Bitcoin (BTC) is facing a “double bubble” and will see two price tops this year, fresh data suggests. In a tweet on Aug. 18, Charles Edwards, CEO of investment firm Capriole, highlighted 2021 as having one key similarity to the 2013 double top bull cycle. Bitcoin gears up for second peak Bitcoin has divided opinion …
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Draft El Salvador Bitcoin banking regulations released
The central bank of El Salvador, Banco Central de Reserva (BCR), has published draft regulations on how banks should handle Bitcoin. Two documents were released for consultation on Aug. 17 instructing banks and financial institutions how to offer Bitcoin-related services to their customers. The first, titled “Guidelines for the Authorization of Operation of the Digital …
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Coinbase goes live in Japan in partnership with banking giant MUFG
Coinbase, the top crypto exchange in the U.S. has announced its official launch in Japan in partnership with banking giant Mitsubishi UFJ Financial Group (MUFG). The firm led by CEO Brian Armstrong announced on Aug. 19 that it will first launch retail trading products including “a suite of five top assets based on trading volume,” …
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BREAKING: Liquid exchange hacked to the tune of $80 million
Japanese exchange Liquid has been hacked with about $80 million in digital assets moved off the platform. The exchange confirmed the security breach in an August 19 tweet, with Liquid revealing the wallet addresses implicated in the breach. The exchange noted that only it’s warm wallets were affected, adding that its assets are currently being …
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62% of Robinhood’s Q2 crypto revenue was from Dogecoin trading
Popular retail trading app, Robinhood, has revealed crypto trading surged in popularity on the platform and now represents 41% of its revenue. According to its second-quarter financial results published Aug. 18, the firm generated $233 million from crypto trading services for the quarter, up from $5 million for the entirety of 2020. More than 60% …
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Major US mortgage lender UWM to accept Bitcoin (BTC) payments
Elon Musk fancies running a Dogecoin node in space (and teases Tesla’s Bitcoin adoption) Elon Musk‘s participation at ‘The B Word’ conference, an event hosted by the Crypto Council for Innovation, resonated loudly in mainstream media as well as on Twitter as the Tesla and SpaceX CEO revealed the makeup of his crypto reaches, gently …
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Dogecoin (DOGE) gets serious by bringing on Vitalik Buterin to its Foundation
Dogecoin may have started out as a joke poking fun at an industry that takes itself way too seriously. But 2021 has seen it morph into something quite serious. In part, this was driven by the dizzy heights it managed to reach in early May, when, for a brief moment, its near $90 billion market …
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