African News
SEC postpones its verdict on VanEck’s Ethereum ETF application
The SEC’s Decision to Postpone the Fate of VanEck’s Ethereum ETF In a recent turn of events, the United States Securities and Exchange Commission (SEC) has announced the postponement of its decision regarding an application submitted by asset manager VanEck for a spot Ethereum exchange-traded fund (ETF). This delay was outlined in a notice issued…
BlackRock receives memecoins and NFTs amid $100M deposit
Asset management behemoth BlackRock has recently garnered attention for its entry into the realm of memecoins and non-fungible tokens (NFTs), indicating a major pivot in its stance towards digital assets. According to on-chain investigations, BlackRock now holds a portfolio worth over $40,000 in memecoins and NFTs following the establishment of its new tokenization fund. BlackRock’s…
A look at the implications of US’s new restrictions on big bank mergers
A New Era of Bank Mergers: Tougher Regulations Ahead The banking landscape in the United States is witnessing a significant shift, with regulatory authorities signaling tougher times for large bank mergers. At the forefront of this change is the Federal Deposit Insurance Corporation (FDIC), which recently proposed a new set of rules aimed at adding…
Inside Egypt’s narrow escape from economic collapse
March 2023 marked a pivotal moment in Egypt’s economic journey, as the country experienced an astonishing transformation from the precipice of an economic catastrophe to a promising destination for investors exploring emerging markets. This thrilling metamorphosis, highlighted by Egypt’s groundbreaking $35 billion tourism agreement with the United Arab Emirates (UAE), brought much-needed dollar inflows and…
Central banks around the world anticipating a dollar collapse any day now
The international scene is awash with a palpable sense of unease, and it’s not the kind that dissipates once the final credits roll. Instead, this tension carries a heavy weight that could potentially impact your finances significantly. Central banks from various corners of the globe are amassing gold as if there’s no tomorrow, fueling our…
Bank of England leaves interest rates at 5.25% – Is inflation losing the fight?
The United Kingdom’s Economy: A Cautious Shift with the Bank of England The United Kingdom‘s economy experienced a subtle ripple rather than a seismic shift as the Bank of England (BoE) decided to maintain interest rates at 5.25%. Governor Andrew Bailey expressed a guarded yet optimistic perspective, stating that the country is making progress in…
So, what’s next for the Bank of Japan?
Ushering in a New Economic Era: The Bank of Japan’s Exit from Negative Interest Rates A Delicate Transition: Ending the Era of Negative Interest Rates The economic landscape in Japan is undergoing a significant shift, and the focus has turned towards the Bank of Japan (BoJ) following its recent decision to move away from negative…
Federal Reserve keeps interest rates steady – So what now?
The Federal Reserve’s Decision: A Predictable Season Finale A Fifth Consecutive Hold on Interest Rates The drumroll comes to an end, the curtains are drawn back, and what unfolds before us is a familiar sight: The Federal Reserve choosing not to alter the interest rates that have been comfortably nestled in the 5.25% to 5.5%…
Former CFTC official challenges SEC on Ethereum regulation
Former CFTC Commissioner Brian Quintenz Speaks Out Against SEC’s Approach to Ethereum (ETH) Brian Quintenz, the former Commissioner of the Commodity Futures Trading Commission (CFTC), has publicly criticized the Securities and Exchange Commission (SEC) for its treatment of Ethereum (ETH). Quintenz labeled the SEC’s stance on Ethereum as “illegal” and expressed concerns regarding regulatory confusion….
Hong Kong central bank flags e-HKD investment scams
The Hong Kong Monetary Authority (HKMA), the central banking institution of Hong Kong, has issued a public warning against certain organizations that are falsely claiming an association with its e-HKD pilot projects. The central bank’s advisory highlights concerns as Hong Kong evaluates the potential of a central bank digital currency (CBDC) through various trial projects….
India’s crypto regulations push OKX to cease local services
The cryptocurrency exchange OKX, which operates out of Hong Kong, has recently announced its intent to cease trading activities in India due to mounting regulatory hurdles. This decision comes in the wake of increased scrutiny from India’s Financial Intelligence Unit (FIU), which has been cracking down on foreign cryptocurrency exchanges for non-compliance issues. In a…
Celsius targets $2B in withdrawals to aid bankruptcy resolution
Celsius Initiates Legal Actions to Reclaim $2 Billion Withdrawn by Users Before Bankruptcy – Understanding the Clawback Provision and Its Implications for the Crypto Industry In a noteworthy turn of events, the embattled cryptocurrency lending platform, Celsius, has commenced actions to reclaim funds withdrawn by its users prior to the company’s financial collapse. The firm,…
Huge Developments; Blackrock launches BUILD on Ethereum Network
BlackRock’s Groundbreaking Move: Introducing BUILD, the First Tokenized Fund on Ethereum Network BlackRock, a global leader in investment management, took a significant leap forward today by introducing BUILD, its first tokenized fund on the Ethereum Network. The BlackRock USD Institutional Digital Liquidity Fund, also known as BUILD or the “Fund,” enables investors to earn interest…
Credit card debt is crippling U.S. economy – Here is how
Last Year’s Shocking Surge in Credit Card Expenses: The past year has seen a significant increase in credit card expenses for American consumers, amounting to almost 50% more than the expenses reported in 2020. This alarming trend has become a hot topic of debate, with Republicans pointing fingers at President Joe Biden, claiming this spike…
UK’s inflation sees a dip to 3.4% – but don’t rejoice just yet
Before you let the excitement over the UK’s recent inflation figures reach a fever pitch, it is crucial to take a moment to assess the situation calmly. Indeed, there is no denying that the rate has dropped significantly to a more comfortable 3.4%, marking its lowest level since before the onset of the challenges we…
Coinbase’s Base network struggles with surge in traffic and rising fees
Coinbase’s Layer-2 Blockchain Base Faces Challenges Amidst Surge in Network Activity and the Memed Token Craze Coinbase’s much-anticipated layer-2 blockchain, Base, designed to bring lower transaction fees to the Ethereum network, is currently grappling with a surge in network activity. This heightened demand has led to increased traffic and rising transaction fees, resulting in disruptions…
Sweden’s Central Bank, The Riksbank, wraps up E-Krona pilot with focus on offline transactions
On March 20, 2023, the Riksbank, Sweden’s central bank, released the final report of its e-krona pilot project. This phase marked a significant departure from the project’s Phase 2 proposal, which primarily focused on mobile phones for storing offline transaction data. Instead, the central bank adopted a new approach involving a “shadow wallet” integrated with…
Apple Co-founder Steve Wozniak triumphs in court against YouTube in Bitcoin scam case
Steve Wozniak Secures Legal Victory Against YouTube in Appeals Court over Manipulated Bitcoin Scam Videos In a significant legal development, Apple co-founder Steve Wozniak has secured a victory in an appeals court against YouTube regarding doctored videos that featured his likeness in a Bitcoin scam back in 2020. According to a report by Bloomberg, the…
Starknet fixes airdrop issues for Immutable and Ethereum stakers
Starknet, the Ethereum layer-2 blockchain project, has announced an expansion in the eligibility criteria for its inaugural Starknet provisions, including two new sub-groups of users who previously faced obstacles in claiming their STRK tokens. The Starknet Foundation, which supports the network, undertook a thorough review to tackle eligibility concerns surrounding specific user groups for the…
Ethereum ETFs might undergo approval delay due to unpreparedness
The Approval Process for Ethereum Spot Exchange Traded Funds (ETFs): Delays and Institutional Challenges Ethereum ETFs Face Potential Delays: Institutional Challenges and the SEC’s Role The Ethereum (ETH) ETF approval process is experiencing potential delays that extend beyond the final deadline set in May. This delay can be attributed to the significant challenges large financial…