The governor of the Bank of Central African States (Banque des États de l’Afrique Centrale, BEAC) has issued a scathing letter to the Central African Republic (CAR) regarding the country’s adoption of cryptocurrencies. In a letter addressed to the CAR Finance Minister Hervé Ndoba, the Governor of the BEAC Abbas Mahamat Tolli describes the “substantial negative impact” that the CAR adopting…
The African fintech industry has grown rapidly over the past few years and this has caught the attention of some well-resourced venture capital (VC) firms. As one would expect, Nigerian fintech startups have dominated the continent in terms of funds raised or the number of transactions performed. Nigeria’s Burgeoning Fintech Scene This dominance has convinced VCs to pour tens of…
Kenya-based blockchain community Sankore has partnered with Swiss nonprofit NEAR Foundation to launch a regional hub that aims to develop talent within the region and build projects that aim to improve the local ecosystem. Sankore supports projects like Kilimo Shwari, which is a blockchain-based insurance program that helps farmers deal with natural disasters. Apart from this, the firm also supports…
The price of Shiba Inu (SHIB) plunged 8.9% overnight, trading at $0.00001723 at press time, per CoinMarketCap. The popular meme cryptocurrency is also down almost 19% over the past week, touching the levels last seen in October 2021. With a market cap slightly above $9.5 billion, Shiba Inu is now the market’s 15th most-valued cryptocurrency. The asset’s latest price action…
Amid the sharp pullback across Bitcoin (BTC) and the wider crypto market this week, the Luna Foundation Guard (LFG) is set to deploy $1.5 billion worth of capital to “help protect” Terra USD’s (UST) peg to the United States dollar. The Singapore-based nonprofit LFG is part of the Terra ecosystem and is tasked with collateralizing the network’s algorithmic stablecoin UST to…
Binance TR, the Turkish arm of crypto exchange Binance, has warned investors in the region of an ongoing scam attempt that targets crypto investors via fake Binance-branded billboards and hoardings. Turkey is home to a large number of crypto investors that account for over 7% of the total traffic to Binance’s primary platform through a desktop browser, as evidenced by…
The long-planned upgrade to Ethereum aims to improve the network’s scalability and security by switching to a proof of stake consensus mechanism. Source: https://decrypt.co/videos/explainers/GbT7MLDK/decrypt-learn-what-is-ethereum-20-ethereums-consensus-layer-and-merge-explained
Bitcoin (BTC) starts the second week of May 2022 by bringing up bearish ghosts from its past — how much worse could the picture get for hodlers? After falling to nearly $33,000, the largest cryptocurrency is giving market participants new and old a run for their money, and the fear is palpable. A brutal combination of macro cues, which are…
Leading U.S. crypto exchange Coinbase has reportedly notified certain Russian customers that their accounts may be blocked at the end of this month. According to Russian media, the trading platform has offered them to withdraw their funds unless they prove they are not under sanctions. Coinbase Reportedly Asks Russian Clients to Withdraw Funds Some Coinbase users from Russia have received…
The number of Bitcoin whales is rapidly decreasing to levels not seen since earlier this year, possibly due to the three-month high of coin inflows to centralized exchanges (CEXs). Bitcoin (BTC) market tracker Glassnode has issued several bearish indicators for the largest cryptocurrency by market cap, including data suggesting a market exit for whales holding at least 1,000 coins, and…
