Author: Editor

Tesla’s CEO, Elon Musk, has come forward to debunk rumours about the launch of a crypto token by Twitter/X. Twitter, a popular social media platform worldwide, was acquired by Musk in late 2022 for $44 billion. He then rebranded the company to X.com, with the intention of incorporating various online services, including crypto and fiat payments, into X’s empire. However, on August 5, 2023, confusion arose when articles surfaced on the internet, claiming that Twitter/X had launched tokens under different names, such as X token and Twitter token. To address these claims, the official UI & UX designer for Dogecoin…

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FTX’s Customer Body Requests Inclusion in Restructuring Discussions After Disapproving of Draft Bankruptcy Plan The official creditor committee for FTX expressed dissatisfaction with the exchange’s proposed bankruptcy exit plan, alleging that the restructuring team had ignored it. The Official Committee of Unsecured Creditors (UCC) said in a recent court filing that despite numerous inquiries, they had not spoken with FTX about the proposed Chapter 11 plan. The suggested strategy describes how client claims are categorized and envision a way for FTX to relaunch as an offshore exchange. The UCC expressed alarm over the plan’s tardy filing, believing that their opinion…

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The Nigerian Securities and Exchange Commission (SEC) has recently cautioned local investors against using Binance. Referring to the previous circular published on a company illegally leveraging the Binance platform, the Commission insists that the crypto exchange isn’t licensed to operate in Nigeria. Sometime in June, SEC warned investors about the illegal activities of an illegal company, referring to itself as Binance Nigeria. leading Binance to distance itself from the Nigerian-based company. While Nigeria actively promotes its central bank digital currency (CBDC), the eNaira, adoption rates have not met expectations, leading the central bank to explore ways to drive usage, including…

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On July 30, 2015, Vitalik Buterin, Gavin Wood, Charles Hoskinson, Anthony Di Iorio, and Joseph Lubin successfully launched the Ethereum mainnet blockchain. Today marks the 8-year milestone of the Ethereum blockchain’s existence, during which this public network has completed over 2.05 billion transactions. As of now, there are a total of 66.12 million Ethereum addresses, with 47.2 million Ethereum coins (ETH) in supply. Throughout its 8-year journey, the Ethereum network has faced technical challenges and encountered various bugs. However, thanks to the diligent efforts of the Ethereum community developers, these challenges have been met head-on, allowing the network to thrive…

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The dwindling Crypto exchange landscape recently experienced a boost as Oluwaseun Dania, the Chief Executive Officer of one of Nigeria’s foremost crypto exchanges, Tradefada announced the backing of PATRICIA Technologies with a significant investment. Announcing the undisclosed amount of investment in a recent LinkedIn post, Mr. Oluwaseun noted that the investment in PATRICIA Technologies, a standout name among Africa’s premier crypto exchanges is a pointer to the confidence investors have in Africa’s Leading Crypto Exchanges. In the post, he lauded Patricia Technologies for its unparalleled innovation and commendable representation of Nigeria and Africa on the global financial spectrum, stressing that…

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Venture capital giant Sequoia Capital has recently announced a significant reduction in the size of its cryptocurrency fund by over 65%, bringing it down to $200 million from the original $585 million, according to sources cited by the Wall Street Journal. The decision to downsize the fund was informed by the evolving market conditions, particularly in the aftermath of the crypto downturn, which has constrained investment opportunities in larger companies. As a result, Sequoia Capital intends to shift its focus towards backing newer startups in the cryptocurrency space. The changes didn’t stop there. Sequoia Capital also scaled down the size…

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Worldcoin (WLD), a project co-founded by OpenAI CEO Sam Altman,  has launched its token according to to distinguish humans from bots. The project aims to revolutionize online identity authentication and address income inequality, sparking both excitement and skepticism within the crypto space and Silicon Valley. The World ID, introduced on March 14 along with a waitlist for its SDK, serves as a global digital passport stored on users’ phones. With World ID, individuals can prove they are human without disclosing personal information like phone numbers. The project emphasizes privacy, using zero-knowledge proofs to verify humanity without storing user data. Binance…

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Bundle, an African social payment app for cash and cryptocurrency, recently announced shutting down its exchange services after 3 years of operation. As stated in a blog post, “As we celebrate our achievements of the last 3 years, including Cashlink crossing over 3 million transactions and Bundle hitting 50,000 monthly active users and $50m monthly volume on Bundle, we also want to announce that our exchange services (Buy and sell/Deposits and withdrawals) are ceasing operations as we focus on expanding the services of Cashlink as a payment.” The social app also stated its reason for shutting down the operations. The…

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According to the words of Dr Amin Adam, the Ghanaian Finance Minister of State, cryptocurrencies remain illegal within the country’s financial system as reported by . Addressing the parliament, the minister reportedly said that the Ghanaian government at present doesn’t have a developed framework yet, thus rendering all crypto transactions by banks illegal. The Bank of Ghana launched a regulatory sandbox pilot to test various business innovations under the regulator’s supervision. The country’s apex bank had mentioned it would prioritize products and services deploying the blockchain technology. Some of the categories with priority in the regulatory sandbox include: Blockchain technology…

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The International Monetary Fund (IMF) recently expressed its concerns about the risks associated with cryptocurrencies, particularly Bitcoin, and advised central banks against accepting them as legal tender. While cryptocurrencies, including Bitcoin and other digital assets, offer a decentralized means of transferring value without intermediaries, their extreme volatility renders them unsuitable for direct use in payment services. In a  recent report, the IMF urged central banks to protect fiat currencies from potential threats posed by cryptocurrencies. The IMF emphasized the need to avoid allowing crypto assets to compete directly with established fiat currencies, as such competition may introduce various financial stability…

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