African News
Bitcoin set to hit $45K after market correction – Winter preparations could prove handy
Bitcoin Dips Below $68,000 Amidst Anticipated Market Fluctuations: A Look into the Reasons Behind Today’s Downturn and Previous Trends Bitcoin, the world’s largest cryptocurrency by market cap, has experienced a downturn recently, with its price trajectory indicating a potential slide towards the $45,000 mark. The current economic climate has left investors and enthusiasts on edge…
Robert Kiyosaki backs Bitcoin: Touts supremacy over Gold
Renowned financial author Robert Kiyosaki, known for his best-selling books on personal finance and wealth-building, has once again expressed his strong belief in the superiority of Bitcoin over traditional assets such as gold and silver. In a recent social media post, Kiyosaki highlighted the fixed supply of 21 million coins that sets Bitcoin apart from…
SEC battles website downtime amid market fluctuations
The unexpected downtime experienced by the United States Securities and Exchange Commission (SEC) on their Website late Friday night sparked widespread speculation across various social media platforms. The issue, which prevented users from accessing SEC.gov for several hours between 3 AM GMT and around 8 AM GMT, left many questioning the potential causes behind this…
Bybit faces regulatory heat for unlicensed Hong Kong operations
The Securities and Futures Commission (SFC) of Hong Kong: A Warning Against Unlicensed Virtual Asset Trading Platform Bybit The financial regulatory landscape is constantly evolving, with regulators taking decisive actions to protect investors and maintain market integrity. In this context, the Securities and Futures Commission (SFC) of Hong Kong has recently issued a public warning…
Tornado Cash used by Lazarus group despite sanctions
The notorious Lazarus Group, which has been linked to North Korea, has resumed its activities involving the cryptocurrency mixer Tornado Cash. This was revealed by analytics firm Elliptic, which highlighted on-chain activity showing that the group transferred approximately $12 million worth of cryptocurrency to Tornado Cash’s wallets on March 13, 2023. It is essential to…
Chainlink’s CCIP revenue jumps 180% amid growing adoption
Chainlink’s Cross-Chain Interoperability Protocol (CCIP): A Game Changer in Blockchain Ecosystem with 180% Revenue Surge in Two Months The past two months have seen an impressive surge of 180% in the revenue generated by Chainlink’s Cross-Chain Interoperability Protocol (CCIP). With a fee revenue jump from approximately $61,000 in January to over $171,000 during the first…
Federal Reserve is likely not going to cut interest rates this year
The Latest U.S. Economic Data: A Game Changer for the Federal Reserve’s Interest Rate Decisions Recent economic data from the United States has put an end to any speculation about the Federal Reserve (Fed) cutting interest rates in the near future. The latest reports on inflation and unemployment claims have surpassed expectations, indicating that the…
Low-income U.S. consumers continue to suffer despite it all
Amidst the Economy’s Rosy Picture, a Hidden Reality for Low-Income U.S. Consumers: Despite the economic landscape adorned with growth figures and impressive employment statistics, the situation remains grim for low-income Americans. Struggling to free themselves from the quagmire of inflation and unyielding interest rates, they find their financial bootstraps worn threadbare. This situation contrasts starkly…
Crypto investment funds break $100B AUM worldwide for the first time
Global Assets under Management (AUM) in Cryptocurrency Investment Products Surpass $100 Billion: According to recent data from the leading digital asset investment firm, CoinShares, global assets under management (AUM) in cryptocurrency investment products have surpassed the $100 billion mark. This significant achievement is a result of robust inflows into crypto funds and impressive gains in…
Ethereum’s Dencun upgrade to focus on transaction fee stability
The Successful Implementation of Ethereum’s Dencun Hard Fork: A Game-Changer for Scalability and Fee Stabilization Expert Insights on Ethereum’s Dencun Upgrade from Fuel Labs CEO The much-anticipated Dencun hard fork of Ethereum, deemed the most significant upgrade since The Merge, was executed on the mainnet on March 13. This update has garnered extensive attention, particularly…
Memecoins recent surge tied to significant increase in network activities
Memecoins, a subclass of cryptocurrencies recognized for their fanciful origins and speculative characteristics, have garnered substantial interest within the financial sphere in recent times. Despite not inherently holding any value, these tokens have displayed an intriguing correlation between their price escalations and the expansion of user wallets on underling blockchains, as per a report issued…
Reactor Motors hires Pierre Morel to oversee its NFT movie adaptation
Reactor Motors: A Digital Artwork Collection Transforms into a Hollywood Film On Thursday, the creators of Reactor Motors, an Ethereum-based collection of NFTs, announced that their digital artwork will be making its way to the big screen. The news was met with excitement as veteran filmmaker Pierre Morel was appointed to helm the adaptation. Renowned…
Scaramucci questions Grayscale’s Bitcoin Trust plan
Grayscale’s Strategic Response to Market Uncertainties: Filing for a Spot Bitcoin ETF Renowned investment figure Anthony Scaramucci, known for his association with the cryptocurrency industry, recently expressed skepticism towards Grayscale Investments’ plan to introduce a “mini bitcoin trust.” In response to these concerns and to maintain competitiveness in the cryptocurrency investment landscape, Grayscale made a…
Ethereum’s Dencun upgrade slashes layer 2 transaction fees
The Ethereum Layer 2 ecosystem has undergone a remarkable transformation following the implementation of the Dencun upgrade. This significant update introduced a new transaction type called blobs, which have led to a considerable reduction in transaction costs across various Layer 2 chains. The Profound Impact of Ethereum’s Dencun Upgrade on Transaction Fees Since the introduction…
Indonesia sets new crypto rules to boost financial sector
Indonesia’s Proactive Approach to Cryptocurrency Regulations: A Framework for Balanced Innovation On March 13, 2024, the Financial Services Authority (OJK) of Indonesia announced the upcoming release of new regulations covering cryptocurrencies and digital financial assets. Scheduled to take effect in January 2025, these guidelines mark a significant step for Indonesia’s financial sector, with the OJK…
Elon Musk predicts the downfall of America
Elon Musk’s Alarming Views on the U.S. Economy: A Shared Concern with BRICS Elon Musk, the visionary CEO of Tesla and SpaceX, has recently voiced his concerns over the current state of the U.S. economy, aligning himself with the ambitious BRICS nations. Musk’s critiques echo those of Brazil, Russia, India, China, South Africa, Ethiopia, UAE,…
Bitcoin (BTC) miners liquidate holdings as halving nears
With the greatly anticipated fourth Bitcoin (BTC) halving approaching on the horizon, the cryptocurrency market has witnessed an intriguing trend among miners. According to data from CryptoQuant, a leading crypto analytics platform, miners have initiated a sell-off of their Bitcoin holdings. This action aims to capitalize on the ongoing bull run and prepare for future…
ECB reshapes strategies: Turns to bank lending, trims balance sheet
The contact Central Bank (ECB) is revising its monetary policy strategy, marking a significant shift after a decade of massive bond purchases. The ECB aims to subtly infuse cash into the financial system by focusing more on bank lending rather than maintaining its expansive bond portfolio. Let’s delve deeper into this new approach. A New…
El Salvador invites international investors with zero income tax
El Salvador’s Radical Tax Reform: A Game Changer for International Investors El Salvador, a small Central American country, has recently made waves in the international investment community with its groundbreaking tax reform. In an audacious move to attract foreign investments, El Salvador’s legislative assembly voted to eliminate income tax on money entering from overseas. This…
Solana network grapples with congestions amid security concerns
Addressing Challenges on the Solana Blockchain Network: Chain Congestion and Malicious Activity The Solana blockchain network has been experiencing a multitude of challenges recently, primarily due to an influx of user activity. One of the most pressing issues is chain congestion, which has led stakeholders within the Solana ecosystem to consider significant modifications to the…