Nigeria is expected to designate cryptocurrency as capital for investment if the country’s House of Representatives votes to approve a bill that seeks to amend the Investments and Securities Act of 2007, a report has said. A Nigerian lawmaker, Babangida Ibrahim, suggested that the Central Bank of Nigeria (CBN) is not well positioned to regulate cryptocurrencies. The CBN and SEC…
The team overseeing FTX’s bankruptcy proceedings has warned that donations made by former CEO Sam Bankman-Fried or other executives should be returned. Since the exchange filed for bankruptcy in November, FTX’s operations are now overseen by its new CEO John J. Ray III. FTX said the exchange had already “been approached by a number of recipients of contributions or other…
The holiday season always comes around this time of year. But, a gift like Bitcoin only comes around once a lifetime. This holiday season, earn a reward each time you share the gift of financial freedom with your friends. Kraken Referral Program allows you and up to 10 of your friends to both earn a $10 USD referral bonus each…
The crypto bear market has also been called a builder’s market by many leading figures and companies in the industry. New data from Nasdaq reveals that investors had this mindset as they continued to sink money into Web3, particularly metaverse-related projects. According to the data over the last year 216 metaverse funding deals were completed, totaling out to nearly US$2…
A type of decentralized finance (DeFi) that allows investors to lend their crypto tokens in return for regular interest payments, the crypto lending space comprises both centralized and decentralized crypto entities that manage the entire process on behalf of their investors. Offering high annual percentage yields (APY) to investors from whom the tokens have been borrowed, these lending platforms further…
As hacks and exploits continue to go rampant within the crypto industry, the importance of finding vulnerabilities to prevent potential losses becomes of utmost importance. However, a Web3 developer highlighted that it’s not rewarding to do so. In a tweet, a Web3 developer claimed that he found a vulnerability in a Solana smart contract that would have affected several projects…
More than six months after the collapse of the Terra ecosystem, South Korean authorities continue to investigate and freeze the funds of persons involved in Terra. After seizing 140 billion won ($108 million) from Terra co-founder Shin Hyun-Seong in November, the Seoul Southern District Court has recently ruled to confiscate more assets related to Terra. The South Korean court has…
Smart contracts shouldn’t be regulated the same as centralized custodians, argued the Coinbase chief. In a recent blog post, Coinbase CEO Brian Armstrong shared a “realistic blueprint” for regulating cryptocurrencies and restoring trust in the industry following the collapse of crypto exchange FTX. According to Amstrong, “regulation should be limited only to centralized actors” in the cryptocurrency industry, where transparency…
Meta will continue to invest in VR (virtual reality) tech in 2023, according to statements made by Andrew Bosworth, head of Reality Labs, the metaverse division of the company. While Meta has made some changes and adapted to the current shaky economic atmosphere, Bosworth states that the company is still committed to its metaverse pivot. Meta to Continue Pushing Metaverse…
The Lightning Network strikes again. In a small yet significant development for Bitcoin (BTC), a new type of BTC address has been introduced: the “Lightning Address.” These unique identifiers are specifically designed for use on the Lightning Network, a layer-2 payment protocol that operates on top of the Bitcoin blockchain. A user-friendly addition to ways in which Bitcoin users can send, receive…
