African News

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…

China’s PBOC facilitates global access to e-CNY payments

A Comprehensive Guide for International Visitors to Use the Digital Yuan (e-CNY) in China: Tourist-Friendly Features and Registration Process The People’s Bank of China (PBOC) has unveiled an extensive service guide for international tourists aiming to facilitate the usage of the digital yuan, officially known as e-CNY, during their visits to China. The guide, titled…

India’s finance minister says crypto cannot Be recognized as legal tender

Patrick Cliff9 months ago9 months ago03 mins

India’s Finance Minister Nirmala Sitharaman Clarifies Government’s Stand on Cryptocurrencies at India Today Conclave 2024 India’s Finance Minister, Nirmala Sitharaman, made it clear during her speech at the India Today Conclave 2024 that cryptocurrencies cannot be regarded as currencies by the Indian government. This stance conforms to the long-held view that although digital assets can…

Attestor and Lemma face off in court over $58M FTX agreement

London-Based Hedge Fund Attestor Capital Initiates Legal Action Against Lemma Technologies Over Disputed FTX Claims Sale Attestor Capital, a notable London-based hedge fund with a focus on investments in distressed assets and private equity, has taken legal action against Lemma Technologies over a disagreement regarding the sale of certain bankruptcy claims related to the cryptocurrency…

Is the Bank of Japan ready to raise interest rates?

The financial world is abuzz with anticipation as Japan finds itself under the global spotlight. The question on everyone’s lips isn’t about the latest sushi trend but rather if the Bank of Japan (BoJ) is preparing to hike interest rates at its upcoming policy meeting. This isn’t just any routine financial strategy; it could potentially…

Analyzing NYCB’s situation and its [perhaps] impending collapse

The Unpredictable Journey of New York Community Bancorp (NYCB) Every financial storm leaves a trail of victors and vanquished in its wake. In March 2023, amidst the turmoil of regional bank downturns, New York Community Bancorp (NYCB) emerged seemingly unscathed with newly acquired pieces of Signature Bank in hand. However, the story took a dramatic…

The fate of our global economy is now in the hands of BOJ and Federal Reserve

The financial health of our globe hangs in the balance as we await the decisions of two influential institutions: the Federal Reserve and the Bank of Japan (BOJ). As they prepare to set the course for nearly half of the world’s economy, their upcoming moves are not just routine adjustments; they’re pivotal decisions that could…

U.S. economy gets a win from an unlikely place

The Surprising Economic Ally: Natural Gas Prices and their Impact on the U.S. Economy Introduction: A new chapter in economic narratives has unfolded as the U.S. economy encounters an unexpected yet powerful ally in its performance against escalating costs and financial uncertainties. This unlikely savior is none other than the dramatic plunge in natural gas…

Cardano welcomes USDM, its first fiat-backed stablecoin

Cardano, the progressive layer-1 smart contract network, has recently announced an exciting development with the launch of the USDM stablecoin by Mehen Finance. This milestone signifies a significant leap forward in Cardano’s mission to broaden its adoption and utilization. The USDM stablecoin, which is fully backed by U.S. dollars and promises a 1:1 conversion rate,…

Reddit IPO draws major interest, targets $6.5 billion valuation

Reddit, the popular social media platform based in San Francisco, is poised to make a significant transition into the public trading sector with an anticipated valuation of $6.5 billion. This ambitious move has garnered substantial attention from investors, leading to oversubscription by a factor of four to five times (Reuters, 2024). This level of investor…

Bianco defends Vanguard’s decision against spot Bitcoin ETF

Patrick Cliff9 months ago9 months ago07 mins

Background: In a recent turn of events, Jim Bianco, a well-renowned financial advisor, stepped forward to defend Tim Buckley, the CEO of Vanguard, against the wave of criticism that followed Buckley’s statements regarding Vanguard’s stance on spot Bitcoin ETFs. The controversy unfolded after Buckley declared that Vanguard would not partake in the spot Bitcoin ETF…

Cardano Hydra moves forward despite FUD, says Charles Hoskinson

Charles Hoskinson, the visionary founder of Cardano, has taken to addressing the mounting concerns surrounding the development progress of Hydra. This highly-anticipated layer-two scaling solution is designed to fortify the Cardano blockchain’s transaction processing capabilities, which have lately become a subject of rumors suggesting its potential abandonment. However, Hoskinson has reassured the community that the…

Bitcoin miners prepare as the upcoming halving event draws near