Nigerian fintech entrepreneurs have slammed the Central Bank of Nigeria (CBN)’s decision to select Bitt Inc as its fintech partner. They insist that the choice of Bitt Inc, a Barbados based firm, undermines central bank claims that it is “fighting for the naira in the forex market.” Bitt Inc’s Market Capitalization In fact, as the
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El Salvador’s move to embrace Bitcoin has ruffled the feathers of bond investors, with yields spiking as investors signal uncertainty for the emerging economy. A Sept. 8 report published by Bloomberg notes the yield curve on El Salvador’s bonds has recently inverted, meaning bonds with short-term maturities are now yielding more than is due from
Seychelles’ Financial Services Authority (FSA) together with the country’s finance ministry, is reportedly working on a policy to either prohibit or license crypto trading platforms as registered international businesses. Increase in International Investigations of Crypto Platforms According to a report, the move by the FSA happens against the backdrop of a rising number of international
By his own admission, Lee Cooperman still does not understand Bitcoin, despite BTC being up more than 300% since early December 2017. Speaking to CNBC on Thursday, the billionaire investor alluded to people his age having a hard time understanding Bitcoin, adding: “I’d be very careful with Bitcoin; I don’t think it makes a great
Mastercard, the American multinational financial services corporation, announced the company is dipping further into the digital asset ecosystem by acquiring the blockchain intelligence firm Ciphertrace. The partnership announcement says the firm will help bolster Ciphertrace’s and Mastercard’s cyber security solutions. Mastercard Purchased Ciphertrace for Undisclosed Sum On Thursday, the financial payments giant Mastercard (NYSE: MA)
Virginia-based enterprise software company MicroStrategy has captured the attention of crypto and financial news outlets alike with its CEO’s atypical strategy of going all-in on Bitcoin, beginning in 2020, with some reporters quipping that the company has since morphed into something closer to a Bitcoin (BTC) investment vehicle than a software firm. Recent filings with
A high-ranking representative of Russia’s notorious Finiko Ponzi scheme has been arrested in Tatarstan. Ilgiz Shakirov, a businessman from Kazan, rose to the rank of vice president of the crypto pyramid which is believed to have defrauded millions of investors in the Russian Federation and surrounding regions. Kazan Police Detain Finiko Vice President Police in
Chinese mining hardware giant Bitmain will be bringing 56,000 of its latest Antminers to the southeastern U.S. state of Georgia. The influx of mining rigs is part of a three-way deal between Nevada-based tech firm ISW Holdings, crypto mining datacenter Bit5ive, and Bitmain. The total cost of the hardware deployment will be around $62 million
A former federal prosecutor says that the U.S. Securities and Exchange Commission (SEC) “will stop at nothing to control the entire crypto space.” The SEC has now threatened to sue the Nasdaq-listed crypto exchange Coinbase. The regulator is already in an ongoing lawsuit with Ripple Labs and its executives. SEC Going After Entire Crypto Space,
Bitcoin (BTC) crashed by $9,000 in hours on Tuesday thanks to a mass unwinding of leveraged traders and borrowers, one analyst believes. In a series of tweets on Wednesday, Willy Woo sought to get to the bottom of what made BTC/USD dive to lows of $42,800 on Tuesday. Woo: Bitcoin margin borrowers and open interest
Decentralized finance (defi) has set a trend during the latter half of 2020 and into this year, as statistics show $168 billion is locked in defi across various blockchains. The Bitcoin Cash network now has the Smartbch protocol and in recent times, a decentralized exchange (dex) platform has joined the defi fray. The newly launched
Bitcoin (BTC) and spot gold (XAU) hovered below their key psychological levels on Sept. 8, as a stronger United States (USD) dollar weighed on investors’ appetite for hedging assets. The BTC/USD exchange rate dropped 5.27% to its intraday low of $44,423 but recovered a portion of those losses after reclaiming the $45,000-46,000 range as support.
The chairman of Nigeria’s Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa, has singled out the growth of cryptocurrencies as something that now poses “a far greater danger to the world economy.” Therefore, in order to deal with such dangers or threats, Bawa advocates for a “collective and collaborative approach by authorities around the world.”
Bitcoin (BTC) holders took profits on Tuesday, just as El Salvador moved to recognize the digital currency as legal tender in a landmark move that could have significant implications for global adoption. After hitting local highs north of $52,800 on Monday, Bitcoin’s price plunged all the way to $42,900 in Tuesday trading, according to Cointelegraph
Bitcoin is now legal tender in El Salvador, and the country’s bitcoin stash has grown to 550 coins. The Salvadoran government started buying the cryptocurrency Monday ahead of the Bitcoin Law taking effect. On Tuesday, President Nayib Bukele said El Salvador bought the dip. El Salvador Buys More Bitcoin El Salvador’s Bitcoin Law came into
Traders were caught flat-footed on Sept. 7 after a sharp collapse in the price of Bitcoin saw the digital asset fall below $43,000 and this led to widespread liquidations in derivative markets as more than $3.54 billion was liquidated. Amount of Liquidations in the past 24 hours by exchanges in total $3.54 was liquidated! In the