The price of Dogecoin (DOGE) is down another 1.7% over the day and almost 10% on the week, dropping to a two-month low of $0.073, according to data from CoinGecko. The world’s largest meme coin last traded at these levels on January 8 amid the resurging crypto market, which eventually took DOGE to $0.098 at the beginning of February. Since…
It has been 21 days since Paxos revealed that it would no longer mint the stablecoin BUSD. Since then, over 7 billion BUSD stablecoins have been redeemed. Prior to the announcement, BUSD was once a top-ten crypto asset. However, the top ten cryptocurrencies by market valuation have changed since the redemptions. Presently, there are only two stablecoins in the top…
The supreme court of Nigeria has ruled that the old N200, N500, and N1,000 naira notes remain in circulation till Dec. 31, 2023, effectively nullifying the naira redesign previously announced by Nigerian President Muhammadu Buhari. The introduction of redesign sought to phase out the use of the old naira notes. A seven-member panel of the court led by John Okoro…
There’s been little sunlight this crypto winter, so it may seem odd to present the “Bitcoin as legal tender” argument again. That is, will or should any country — other than El Salvador and the Central African Republic (CAR), which have already done so — declare Bitcoin (BTC) an official national currency? The International Monetary Fund (IMF) raised the issue…
Babel Finance, one of cryptocurrency lending firms shaken by the bear market of 2022, is exploring new restructuring opportunities involving minting a new token. Babel co-founder Yang Zhou is planning to build a new decentralized finance (DeFi) project in order to generate revenue to repay debts owed to creditors, Bloomberg reported on March 5. Called Hope, the potential DeFi project…
The Bitcoin (BTC) bear market builders convened in London, United Kingdom, during the Bitcoin-only conference “Advancing Bitcoin.” Common Bitcoin conference vernacular, words like “macro,” “shitcoin,” or “debt spiral” were absent from the debate, replaced by computer science terms; words like “OP_return,” “nonce,” and “ordinals” dominated the discussion. The two-day developer conference was technical and thoughtful, a space to get one’s…
Bitcoin consolidated for a third straight session, as markets prepared for a big week of U.S. economic data. Later this week, nonfarm payrolls will be posted, with Federal Reserve chair Jerome Powell also speaking in the coming days. Ethereum also fell marginally lower to start the week. Bitcoin Bitcoin (BTC) started the week in consolidation, ahead of a key week…
Bitcoin consolidated for a third straight session, as markets prepared for a big week of U.S. economic data. Later this week, nonfarm payrolls will be posted, with Federal Reserve chair Jerome Powell also speaking in the coming days. Ethereum also fell marginally lower to start the week. Bitcoin Bitcoin (BTC) started the week in consolidation, ahead of a key week…
The Nigerian fintech Flutterwave has rejected reports suggesting that hackers have stolen as much as $6.3 million from user accounts. The fintech firm said a routine check of its transaction monitoring system helped to uncover “an unusual trend of transactions on some users’ profiles.” Motion to Freeze The Nigerian fintech unicorn, Flutterwave, has said reports suggesting that hackers stole approximately…
Last year was one of the most chaotic for the broader crypto industry. After FTX’s collapse, thousands of employees were laid off, and many firms, especially those in the mining sector, shut shop entirely. After layoffs and bankruptcies, cryptocurrencies were also hit hard. The industry’s market cap plummeted from roughly $2.23 trillion at the start of 2022 to just $832…
