African News
Thailand approves tax exemptions for individuals holding crypto
Thailand’s New Tax Breaks for Investment Tokens: Bolstering Fundraising Initiatives and Attracting Investors Thailand’s Government Announces Tax Exemptions for Investment Tokens The recent approval of tax exemptions for investment tokens by Thailand’s cabinet marks a significant step towards boosting fundraising initiatives and solidifying the nation’s position as an attractive investment hub. Effective from January 1,…
CoinShares enters the US with Valkyrie acquisition completion
CoinShares Acquires Valkyrie Funds LLC: Expanding Global Reach and Enhancing U.S. Presence in the Digital Asset Market CoinShares, a contact investment firm specializing in digital assets, has officially completed its acquisition of Valkyrie Funds LLC. This strategic move marks an essential milestone for CoinShares as it bolsters its global reach, particularly in the United States…
Hong Kong investors call for quick approval of Bitcoin ETFs
Urgent Call for Approval of Bitcoin and Ethereum ETFs in Hong Kong: A Critical Moment for the Region’s Cryptocurrency Industry Hong Kong’s cryptocurrency sector is facing a pivotal moment, with stakeholders urgently appealing to authorities for the swift approval and launch of spot Bitcoin and Ethereum exchange-traded funds (ETFs). The region’s standing as Asia’s financial…
USPTO study finds current laws fit for NFT market challenges
Navigating the Complex Intersection of Non-Fungible Tokens (NFTs) and Intellectual Property Laws: Insights from the USPTO and U.S. Copyright Office In an extensive analysis, the United States Patent and Trademark Office (USPTO) and the U.S. Copyright Office have released their findings on non-fungible tokens (NFTs) and the existing intellectual property (IP) framework in the United…
Stock indices surge to new heights in market overhaul
The global financial landscape is currently witnessing an unprecedented wave of optimism, fueling a surge in stock markets to new heights. This bullish trend, according to financial analysts, signifies more than just a temporary blip; it represents a monumental shift in the economic tides. The S&P 500, Nasdaq Composite, Japan’s Nikkei 225, Germany’s DAX, and…
Bitcoin developers set to draft guide for BRC-20 tokens
The Establishment and Objectives of the Layer 1 Foundation for Bitcoin’s BRC-20 Token Standard The world of cryptocurrencies has witnessed a surge in popularity, with Bitcoin leading the charge. The emergence of new meme coins on the Bitcoin blockchain has sparked an unprecedented collaborative effort among Bitcoin developers to formalize and establish the BRC-20 fungible…
Hong Kong’s Monetary Authority launches its stablecoin sandbox
Hong Kong’s Regulatory Sandbox: A Significant Development in Stablecoin Regulation The regulatory landscape for stablecoins, which are digital currencies pegged to the value of traditional fiat currencies such as the U.S. dollar or Hong Kong dollar, has been a subject of intense debate and discussion in recent years. Stablecoins have gained significant attention due to…
Central Bank of Nigeria’s inability to defend the naira raises concerns
The Economic Intelligence Unit’s Analysis of Nigeria’s Economic Challenges: A Focus on the Central Bank of Nigeria and the Naira The Economic Intelligence Unit (EIU) has recently released an in-depth analysis of Nigeria’s economic situation, with a specific focus on the challenges faced by the Central Bank of Nigeria (CBN) in stabilizing the local currency,…
Americans are facing an unprecedented financial crisis
Americans are standing at the brink of a financial abyss, with a sense of unease pervading their economic landscape. The financial topography has transformed into a treacherous terrain, filled with uncertainties and riddled with pitfalls that threaten the very foundation of economic stability. This is not just another market fluctuation or a temporary setback; rather,…
Dubai police embrace Cardano blockchain for crime prevention
The Dubai Police Department has entered into a strategic partnership with the Cardano Foundation, with the aim of utilizing blockchain technology to strengthen security measures on a global scale. This collaboration was announced at the recent World Police Summit held in Dubai, where the Dubai Police showcased their ability to securely share sensitive criminal investigation…
FDIC vice chair seeks clearer SEC crypto asset guidelines
Recent Call for Precise Regulatory Guidance within the Cryptocurrency Sector: FDIC Vice Chair Travis Hill Urges SEC to Refine Definitions of Crypto-Assets In a recent statement, the Federal Deposit Insurance Corporation (FDIC) Vice Chair, Travis Hill, issued a compelling plea to the Securities and Exchange Commission (SEC), emphasizing the need for more precise regulatory guidance…
Analyzing Joe Biden’s $7.3 trillion budget – What are his plans?
In a bold move that is making waves in the financial world, President Joe Biden has proposed a budget for 2025 that could potentially push U.S. debt beyond the 100% of GDP mark, amounting to an astounding $7.3 trillion. This ambitious plan comes with a counterbalance in the form of a $3 trillion saving plan,…
ECB indicates preference for 1% minimum reserve for banks
The Unwavering Preference of the contact Central Bank for Low Minimum Reserve Requirements Amidst the eagerness of the banking world towards the contact Central Bank (ECB), it seems that the institution is not in a hurry to make significant changes. Contrary to expectations, there is a solid preference for the banks to maintain their existing…
There is something seriously wrong with FDIC’s insurance strategy
Let’s delve deeply into the intricacies of an issue that has long been a source of contention in the banking sector: the way the Federal Deposit Insurance Corporation (FDIC) insures failed banks. This discussion is far from a trivial matter, and it’s crucial that we address the elephant in the room with unwavering transparency. The…
Elon Musk announce plans to make xAI Grok open-source
Elon Musk, the visionary entrepreneur behind revolutionary companies such as Tesla and SpaceX, recently took to X, his social media platform, to announce his intention to make the artificial intelligence (ai) model Grok, created by xAI, open source. This decision comes in the midst of a lawsuit Musk filed against OpenAI due to allegations of…
Defi protocol Unizen to reimburse users after its recent hack
Unizen Takes Swift Action to Address $2.1 Million Security Breach and Reimburse Affected Users Decentralized finance (DeFi) protocol Unizen recently experienced a security breach, resulting in the loss of approximately $2.1 million in user funds. In response to this unfortunate incident, the platform has taken immediate steps to address the situation and reimburse affected users….
Gaming tokens hit the roof amid Bitcoin’s surge
Over the Past Weekend: The crypto market experienced a noteworthy surge, with tokens linked to video games and gaming chains witnessing remarkable gains. This uptick in value coincided with Bitcoin’s brief touch of $70,000 once again. A Staggering Rise for Gaming Tokens One notable token leading this charge was the GALA token within the Gala…
BlockFi’s Zac Prince transitions into Real Estate tech
The former CEO of BlockFi, Zac Prince, is embarking on a new adventure as he transitions from the volatile world of cryptocurrency to the more stable realm of real estate technology. Following BlockFi’s settlement with the estates of FTX and Alameda Research, which could potentially result in a full recovery for the crypto lender’s users,…
MicroStrategy completes $800M fundraise to boost Bitcoin holdings
MicroStrategy, a leading business intelligence company, has recently finalized an impressive $800 million fundraising initiative to expand its existing Bitcoin holdings. This significant investment saw the acquisition of an additional 12,000 BTC, boosting the company’s total Bitcoin assets to a substantial 200,000 BTC. The fundraising campaign was executed through a private offering of senior unsecured…
Tracking U.S. core inflation: How are we doing over there?
The U.S. Economy: Inflation, Federal Reserve, and the Race for Economic Supremacy As we navigate the complexities of the global economy, one topic continues to dominate headlines: inflation in the United States. Inflation, often likened to a formidable and unpredictable force, can either make or break economies, causing ripples that extend far beyond borders. With…