African News
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…
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…