African News
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…
UK’s economy continues recovery streak thanks to its GBP
The British Pound’s Surprising and Impressive Resurgence: The British pound has been putting on a remarkable show of strength, outperforming over 90% of global currencies since the New Year. This economic powerhouse is leaving analysts in awe and defying expectations amidst a backdrop of doom and gloom forecasts. The Bank of England’s resilient stance on…
Joe Biden’s economic approval stagnates, voters remain unmoved
President Joe Biden’s Economic Approval Lags Behind Improving U.S. Economy Amidst 2024 Re-election Bid The satisfaction of the American people with the U.S. economy is experiencing an uptick, as more individuals report feeling financially comfortable or stable, marking a significant increase from 43% to 48% since November 2023. Furthermore, those painting the economic scenario with…
Unizen announces user reimbursement after $2.1M hack
Unizen Addresses Security Breach and Commits to Reimbursing Affected Users: A Comprehensive Overview The decentralized finance (DeFi) protocol, Unizen, has recently undergone a significant setback as it experienced a security breach that resulted in the loss of approximately $2.1 million worth of user funds. This unfortunate event was detected on March 9, 2024, by blockchain…
UK FCA greenlights crypto ETNs for institutional investors
A Pivotal Moment: UK’s Financial Conduct Authority (FCA) Allows Regulated Crypto Asset-Backed Exchange-Traded Notes (ETNs) for Professional Investors The UK’s Financial Conduct Authority (FCA) announced recently that it will not oppose Recognised Investment Exchanges (RIEs) in establishing a listed market segment for crypto asset-backed exchange-traded notes (ETNs). This significant development marks an essential milestone for…
Let’s talk about central banks and inflation – Who is actually winning the fight?
Central Banks in Europe and the U.S. Considering Rate Cuts Amid Slowing Inflation The economic landscape is showing signs of change, with central banks in Europe and the U.S. considering rate cuts due to a potential slowdown in inflation. Let’s explore the recent developments that have fueled this shift in monetary policy. U.S. Employment Data…
Vitalik Buterin advocates quantum-proofing Ethereum blockchain
In a significant announcement, Ethereum co-founder Vitalik Buterin has shared details about Ethereum’s planned approach to mitigate potential quantum computing threats. This announcement comes in the wake of growing concerns over the security of cryptographic systems as quantum technology continues to advance. Buterin’s strategy revolves around enhancing Ethereum’s resilience through strategic updates and the integration…
BlockFi’s Zac Prince opens up about bankruptcy and new role
In a recent development, Zac Prince, the founder and former CEO of the now-defunct cryptocurrency lending platform BlockFi, has shared insights into the company’s ongoing bankruptcy proceedings and his future career plans. Prince’s silence until now was a deliberate strategy to allow the bankruptcy process to progress without external influence. Successfully Navigating Bankruptcy Proceedings and…
BlackRock’s IBIT ETF Hits $10 billion AUM in Record Time
BlackRock’s Bitcoin ETF, IBIT, Reaches $10 Billion in AUM: A New Milestone Amid Growing Interest in Cryptocurrencies The groundbreaking success of BlackRock’s Bitcoin ETF, IBIT, has reached a new milestone with $10 billion in assets under management (AUM), making it the fastest-growing U.S. ETF to reach this level. This remarkable achievement comes amid an escalating…
Bloomberg expert sheds light on meme coin growth dynamics
Recent Discussion on Meme Coins: Insights from Joe Weisenthal and Doug Colkitt In a captivating discussion on the current state of the financial markets and the surge of meme coins, Joe Weisenthal, the co-anchor of “What’d You Miss?” on Bloomberg Television, shed light on the intriguing nature and potential returns of meme coins. He drew…
Ubisoft Joins Forces with XPLA as a Node Validator to Revolutionize Web3 Gaming
In an unprecedented move for the blockchain and gaming industries, globally renowned video keyboards creator and publisher Ubisoft has officially joined the XPLA ecosystem as a node validator. This groundbreaking development is a testament to Ubisoft’s forward-thinking approach and its commitment to leveraging the potential of blockchain technology through its Strategic Innovation Lab. Ubisoft’s strategic…
JDI Group and Tensor Spearhead Revolutionary $20M Phoenix AI Ecosystem Fund
HONG KONG, CHINA, March 10th, 2024: The technological landscapes of ai and blockchain are on the brink of a revolutionary leap forward with the announcement of the Phoenix ai Ecosystem Fund, an ambitious collaboration between JDI Group and Tensor. This strategic partnership brings a substantial investment of $20 million to the table, with the primary…
Robert Kiyosaki makes huge Bitcoin prediction in 2024
Robert Kiyosaki’s Bullish Outlook on Bitcoin: $300,000 by Year-End Robert Kiyosaki, the highly esteemed author of the bestselling book “Rich Dad Poor Dad,” has once again voiced his optimistic stance on Bitcoin. With a bold prediction that Bitcoin could reach an astounding $300,000 per coin by the end of 2021, Kiyosaki continues to emphasize the…