African News
Tornado Cash founder faces Dutch money laundering charges
The Troubling Legal Saga of Tornado Cash Founder Alexey Pertsev Alexey Pertsev, the founder of Tornado Cash, an anonymous cryptocurrency transaction mixer, is once again in hot water as Dutch prosecutors have charged him with alleged money laundering activities worth over $1.2 billion in crypto assets. This development, reported by DL News, has shifted the…
There are so many things wrong with Federal Reserve’s balance sheet
Exploring the Enormous $7.5 Trillion Balance Sheet of the Federal Reserve: A Comprehensive Analysis The balance sheet of the Federal Reserve (Fed) has been under intense scrutiny in recent times, and rightly so. With a staggering size of $7.5 trillion, it’s an immense financial behemoth that leaves policymakers and market watchers alike in a state…
Japan raises interest rates for the first time in nearly two decades
The Significant Shift: Japan’s Central Bank Ends an Era of Negative Interest Rates Bid Farewell to the Super Easy-Money Era After almost a decade of following an unconventional monetary policy, the Bank of Japan (BoJ) has made a bold move to raise interest rates for the first time since 2007. Kazuo Ueda, the new governor,…
1inch Network boosts DeFi liquidity with Lumia integration
1inch Network Integrates Lumia: A New Source of Competitive Liquidity from Centralized Exchanges The decentralized finance (DeFi) ecosystem of the 1inch Network recently announced an important addition to its aggregation sources. On March 18, Lumia, a liquidity network, was introduced as a new partner to deepen on-chain liquidity and enhance pricing for 1inch users. Expanding…
Gold predicted to hit $2,600 per ounce as demand surge
Recent Market Trends and Analysis: A Comparative Study of Bitcoin (BTC) and Gold In the realm of financial markets, two assets have garnered significant attention in recent weeks: Bitcoin (BTC) and gold. Each asset has exhibited unique trends, captivating investors and analysts with distinct characteristics and potential opportunities. Let’s delve deeper into the current market…
Genesis reaches agreement to settle SEC case for $21 million
Genesis Global Capital Agrees to Settle SEC Dispute for $21 Million On March 19, 2024, the United States Securities and Exchange Commission (SEC) announced that Genesis Global Capital had agreed to pay a substantial civil penalty of $21 million to settle a legal dispute. The allegations stemmed from the Gemini Earn lending program, which the…
Inflation is still very much a global challenge
Unmasking the Persistent Specter of Inflation: A Global Economic Conundrum Let me be blunt: the specter of inflation continues to loom large, refusing to vanish despite the best efforts of financial gurus and their predictions of a gentle economic descent, often referred to as a “soft landing.” Inflation remains obstinately present in our global economies….
Eurozone economy gets sudden boost from trade markets
A Surprising Economic Upturn in the Eurozone: A Record Trade Surplus Amidst Past Challenges and Future Uncertainties A Record Rebound and the Echoes of Past Turmoil: Eurozone’s Trade Markets Regain Vitality The beginning of the year brought an unexpected yet welcome turn for the Eurozone. Its trade markets, once showing signs of weakness, are now…
Bakkt names Andy Main CEO amid financial turnaround efforts
Bakkt’s New Leadership and Strategic Initiatives: Navigating Financial Challenges and Regulatory Compliance in the Cryptocurrency Market Bakkt, a leading cryptocurrency trading platform, announced on March 26, 2024, that Andy Main would assume the role of President and CEO. The appointment came as the current CEO, Gavin Michael, stepped down to explore new opportunities but would…
Oklahoma leads US with groundbreaking Bitcoin rights bill
Revolutionary Legislation in Oklahoma: Protecting Bitcoin Users’ Rights In a groundbreaking move, the state of Oklahoma has recently passed a landmark bill that aims to safeguard the rights of Bitcoin users. This development marks Oklahoma as the 12th state in the United States to take such an initiative, representing a considerable victory for the cryptocurrency…
Ripple CLO Stuart Alderoty critiques SEC over DEBT Box case sanctions
Recent Legal Developments in Crypto Regulation: A Significant Clash Between Ripple’s Stuart Alderoty and the SEC The Chief Legal Officer of Ripple, Stuart Alderoty, has recently added his voice to a significant legal development involving the United States Securities and Exchange Commission (SEC) and DEBT Box, a Utah-based crypto startup. This case has seen a…
Ripple CTO outlines XRP role in upcoming XRPL AMM launch
Amidst the ongoing rumors and hypotheses within the XRP Ledger (XRPL) community, Ripple’s Chief Technology Officer, David Schwartz, has offered some much-needed clarifications concerning the use of XRP and other digital assets on the forthcoming XRPL Automated Market maker (AMM). With the AMM launch just around the corner, there has been a great deal of…
U.S. battle with inflation is far from over
Navigating the Economic Crossroads: The United States Tackles Inflation and Interest Rates Amidst Global Recalibrations The economic landscape of the United States is witnessing a significant shift as policymakers grapple with inflation, an issue that resonates deeply with real lives and businesses. With central banks around the world managing roughly 40% of the global economy…
Shrinkflation’s grip on America’s economy
Understanding the Deceptive Practice of Shrinkflation Shrinkflation, a term coined to describe the insidious business tactic of reducing the size, weight, or quantity of products while maintaining or even increasing their prices, has been making headlines and sparking heated discussions across America. This trend, which can be likened to a magician’s sleight of hand trick,…
MrBeast set to hold ‘the biggest game show ever’ on Prime Video
MrBeast, the renowned YouTube content creator with an impressive following of 245 million subscribers, has recently made waves in the industry with his announcement about creating a monumental game show for Amazon’s Prime Video platform. This groundbreaking venture will see over 1,000 contestants compete for an astonishing $5,000,000 prize. The Unprecedented Announcement of MrBeast’s Game…
Chipper Cash makes workforce adjustments in the US and UK
Chipper Cash, the Nigerian fintech startup, has recently made waves in the financial technology industry by announcing the termination of positions for 20 employees based in the United States and the United Kingdom. This decision, made by CEO Ham Serunjogi, is part of Chipper Cash’s strategic plan to improve operational efficiency and move closer to…
Milady NFT memecoin presale hits target in two hours
Milady’s Novel Solana Memecoin: A Sensational Presale Gathering $18.7 Million in Two Hours The crypto world has been abuzz with excitement over the recently announced presale of Milady’s novel Solana memecoin. This groundbreaking NFT collection, inspired by the popular Solana memecoin Dogwifhat (WIF), drew an astounding 91,486 SOL ($18.7 million) within just two hours of…
Binance achieves $100 billion in assets under custody
Binance’s Assets Under Custody Surpass $100 Billion: A Notable Milestone Amidst Regulatory Challenges Binance, one of the world’s largest cryptocurrency exchanges, recently reported assets under custody exceeding $100 billion as of March 18. This significant milestone comes amidst regulatory investigations and legal actions against the exchange and its co-founder Changpeng Zhao by the United States…
Stride and dYdX community consider major staking collaboration to secure network
Stride, a multichain liquid staking protocol, has recently put forward an exciting proposition for the dYdX community: a collaboration to stake 20 million DYDX tokens, valued at approximately $67 million from Stride’s community pool into the Stride 2 liquid staking protocol. The objective behind this proposal is to bolster the economic security of the dYdX…
EA Shuts Down Battlefield Studio Amid Layoffs
The gaming industry has recently witnessed a notable development with Electronic Arts (EA) announcing the closure of Ridgeline Games, a studio that played a pivotal role in creating narrative and character elements for the Battlefield franchise. This decision comes as part of EA’s broader restructuring initiative, which includes workforce reductions affecting approximately 5% of the…