Author: NBTC
The Nigerian government has revealed intentions to delist the national currency, the Naira, from all peer-to-peer (P2P) trading platforms. Emomotimi Agama, the Director General of the Nigerian Securities and Exchange Commission (SEC), reportedly revealed this plan during a virtual meeting with the country’s blockchain stakeholders today as part of a wider effort to combat the manipulation of the local currency in the foreign exchange market. Meanwhile, local stakeholders have blamed the rise of P2P crypto trading in the country on inadequate regulation. Nigeria is Africa’s most populous country. Its young population has propelled crypto adoption to record highs despite recent…
In a significant move that has caught the attention of the crypto community, a trader deposited 395 BTC, equivalent to $26.3 million, to Binance for sale. This transaction took place just hours before a 4% drop in Bitcoin’s price. The trader’s recent trading activities have been closely monitored, with Lookonchain providing detailed insights into their buying and selling patterns. According to a tweet by Lookonchain, the trader had accumulated 536 BTC, valued at $35.15 million, between April 5 and April 18. These coins were bought at an average price of $63,729. In a quick turnaround, the trader sold the accumulated…
The advent of bitcoin ETFs came only after a legal victory over the Securities and Exchange Commission. A similar action could be what it takes to get US spot ether ETFs over the finish line, law professionals told Blockworks. And let’s not forget Consensys’ lawsuit against the US securities regulator, which they added could play a role in helping sort out the ether ETF question. Bitcoin ETFs born from a legal victory In a world where the SEC and crypto companies constantly appear to be at odds, the courts have been able to offer some clarity. Judges in the DC…
Renowned payment processor Mastercard has recognized crypto-based payment giant Ripple among the leading entities shaping payment solutions in Latin America. This recognition of Ripple’s effort came in a recent publication by Mastercard. The report explored the future of remittances in Latin America from the angles of digitalization, diverse payment channels, and the importance of strategic partnerships. Pseudonymous XRP community figure WrathofKahneman called attention to this development in a recent post on X. #Ripple cited a few times in the new MasterCard report, “The future of remittances in Latin America: Digitalization, multiple rails, & the strategic role of partnerships” as an…
Speaking to crypto.news in an interview, Sebastien Borget, co-founder & COO of The Sandbox, discussed the hurdles that web3 gaming faces on the path to mainstream adoption. Web3 is transforming the gaming sector. In what can be seen as a massive shift from traditional gaming platforms, web3 games let players engage deeper with the games in novel and decentralized ways. These games offer players more control & ownership over their in-game assets, such as items, characters, & currencies. Players can trade, sell, or even create their own assets. Major AAA game publishers have already been testing these new waters in…
South Korea’s Bithumb crypto exchange may re-appoint its CEO Lee Jae-won, as the trading platform seeks to complete its planned IPO. Per Business Post, Lee’s two-year term as Bithumb boss expires later this month. But industry figures believe he will be reappointed as the firm tries to fast-track its public offering plans. Trading volumes on South Korea’s Bithumb crypto exchange over the past month. (Source: CoinGecko) South Korea’s Bithumb Aiming for National IPO First Bithumb wants to become the first crypto exchange to go public on the Korea Exchange. The firm has reportedly developed plans to spin off some of…
The latest 8-hour chart analysis indicates that Bitcoin remains in a downward trajectory. Analysts from Coinotag suggest Bitcoin must surpass the resistance zone between $66,700 and $65,800 to reverse the trend. “If Bitcoin fails to hold the support at $62,300, it could drop further to $61,200,” experts warn. As Bitcoin struggles to break out of its downward momentum, technical indicators highlight critical levels that could determine the near-term trajectory of its price. Current Technical Outlook on Bitcoin The ongoing analysis of Bitcoin’s 8-hour chart shows a consistent bearish trend. The cryptocurrency has been unable to break above the indicated resistance…
Ethereum co-founder Joseph Lubin is issuing a warning about the U.S. Securities and Exchange Commission (SEC), saying the regulator’s current policies on crypto will have a lasting effect on the industry. In a new interview with Wired, Lubin says that if ETH is declared a security by the SEC, people in the US won’t be able to buy it, and developers won’t be able to develop Ethereum or build any more applications on top of the protocol. Earlier this year, SEC Chair Gary Gensler refused to confirm whether or not he sees ETH as a security. Says Lubin, “If the…
Former Twitter CEO Jack Dorsey has made a staggering $21 million donation to OpenSats, a platform dedicated to funding Bitcoin (BTC) development. The nonprofit announced Dorsey’s donation in a May 4 blog post, where it indicated the funds would be used to bolster the resources available for open-source projects, providing crucial funding to innovators across the globe. Dorsey, who led Twitter (now known as X) from 2015 to 2021, later confirmed the contribution while responding to a post by technology specialist and whistleblower Edward Snowden, who was warning Bitcoin developers regarding the need to incorporate privacy measures at the protocol…
B+J Studios launched its new social rewards program for its online gaming app Cupcake on the Solana blockchain on Tuesday, billing the web-based experience as a fun and engaging potentially entry point into the world of cryptocurrency. Using a feed format similar to TikTok, Cupcake features mini-games inspired by crypto culture and memes and includes games like Would You Rather, Caption This, and Two Truths and a Lie to earn rewards. B+J Studios is billing Cupcake as a “CultureFi” (or “culture finance”) app, following in the footsteps of such trends as GameFi and SocialFi. “Cupcake’s approachable social games create a…