The Central Bank of Nigeria (CBN) will reintroduce a foreign exchange auction system as part of efforts to ease pressure on the local currency. The CBN has called on authorized dealer banks to share their respective lists of outstanding forex demand by end users. Auction System Aims to Mitigate Impact of Dollar Shortage on Exchange …
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After peaking at 677 exahash per second (EH/s) on July 25, Bitcoin’s network hashrate declined to 629 EH/s as of Aug. 4. The recent uptick in Bitcoin’s mining difficulty, coupled with the subsequent drop in its price, has driven bitcoin mining revenue to record lows. Monthly Bitcoin Fee Revenue Drops 75%, Hashrate Slides 48 EH/s …
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In July, numerous dormant bitcoin wallets, established in 2017, showed substantial activity. This trend continues into August, with 467.63 BTC spent so far, amounting to approximately $28.2 million. Millions on the Move: What’s Behind the Reawakening of 2017 Bitcoin Wallets? Last month, sleeping bitcoin wallets from 2017 moved about 1,636.94 BTC through 23 distinct transactions. …
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The U.S. stock market experienced significant declines, and the crypto market fell by 5.82% following a disappointing jobs report, sparking concerns about a potential recession. Meanwhile, Coinbase reported $1.4 billion in Q2 revenue, highlighting growth and regulatory progress in the crypto sector. In Zambia, the central bank aims to enforce the kwacha as the sole …
Continue reading “Markets in Freefall, Coinbase Reports Great Q2 Revenue, and More — Week in Review”
A center aiming to drive blockchain innovation and establish Abu Dhabi as a hub for top global events and workshops, connecting industry leaders, has officially opened. Additionally, the blockchain center will incorporate a venture capital arm to support and invest in Web3 startups. Center to Serve as Platform for Launching Latest Blockchain Technology Apps A …
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The chief executive of USDC issuer Circle is revealing his “extraordinary” long-term outlook on the digital assets industry. In a new interview with investor Anthony Pompliano, Circle CEO Jeremy Allaire says that over the years, stablecoins will slowly encroach on the dominance of electronic money held by banks. Allaire compares stablecoins to online videos and …
Crypto exchange Coinbase has added trading support for Stader (SD), a noncustodial, multi-chain liquid staking platform. In an announcement, Coinbase says that SD is now available on Coinbase.com and the Coinbase iOS and Android apps. Coinbase placed SD on its listing “roadmap” last month, which signals the possibility of future listings for digital assets – …
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Crypto whales are positioning themselves for the next market expansion in altcoins, according to the CEO of CryptoQuant. Ki Young Ju tells his 358,000 followers on the social media platform X that whales are now setting up limit orders for altcoins on centralized exchanges (CEXes). Ju explains whales, institutions, and other large entities prefer using …
Mercado Libre, a financial and e-commerce service company with its own cryptocurrency token, became the largest company in Latin America after announcing its financial results for Q2. Mercado Libre announced a net income of $531 million, significantly surpassing the expected $432 million. Other numbers were also positive, including a 36% growth in sales in Brazil, …
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A closely followed crypto analyst says the next Bitcoin breakout could create enough momentum for sidelined traders to finally jump into BTC. Pseudonymous analyst The Crypto Dog tells his 804,500 followers on the social media platform X that he’s looking at $65,000 as the level where momentum fully swings back to the side of BTC …
Newly released documents from inside the US government confirm the existence of high-level legal discussions on whether the Treasury Department can and should create a trillion-dollar platinum coin. The idea for such a coin has been floated in various circles for years as a way to give the US additional funds without having to borrow …
We listen to talk after talk about crypto finally achieving asset-class legitimacy, but truly speaking, the encroachment of Wall Street giants into the blockchain space is a double-edged sword. The following is an opinion editorial written by Karel Kubat, Founder of Union Labs. As blockchain enthusiasts, we’ve long championed decentralization, transparency, and democratized access—the 2008 …
Continue reading “Blockchain and Nation-State Infrastructure: Why Bother?”
This piece is a guest post by Blocmates. Blocmates is an invaluable crypto news and educational resource that offers clarity in the often complicated and jargon-filled crypto space. In this article, writer Gaz of Blocmates breaks down Megaeth, one of the hottest Layer 2s, including explaining the technical reasons why so many people are excited …
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Canza Finance has partnered with stablecoin issuer WSPN to provide secure and efficient financial solutions to users in Africa and other emerging markets. With the integration of WUSD into Canza Finance’s ecosystem, African users will be able to smoothly convert fiat currencies to the WUSD stablecoin. Boosting RWA and Defi Adoption Africa-focused fintech firm Canza …
India’s Enforcement Directorate (ED) has executed its inaugural raid in the Leh Ladakh region to investigate fraudulent cryptocurrency activities under the Public Money Laundering Act (PMLA). The operation targeted six locations across Leh in Ladakh, Jammu in J-K, and Sonipat in Haryana, focusing on A. R. Mir and his associates. Allegations suggest thousands of investors …
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