African News
No, the worst is in fact NOT over for NYCB as it still faces possibility of collapse
New York Community Bank (NYCB): A Turbulent Journey Towards Recovery Recent reports suggest that the New York Community Bank (NYCB) has been actively engaging in discussions with non-bank players, considering offers to purchase some of their loans. Amidst this uncertainty, the bank’s new CEO, Joseph Otting, has hinted at an upcoming business strategy set to…
Zimbabwe says de-dollarization is going to be BRICS’ undoing
Title: The BRICS Dilemma: De-Dollarization and the Economic Risks for Smaller Nations As the year 2024 approaches, the BRICS alliance, a group consisting of Brazil, Russia, India, China, and South Africa, is making waves in the financial world with its ambition to reduce reliance on the US Dollar for loans. This bold move has sparked…
ECB holds firm on high interest rates, but there is a silver lining
Title: contact Central Bank Maintains Steady Course on Interest Rates Amidst Economic Uncertainty and Inflation Concerns The contact Central Bank (ECB) has recently made a surprising decision that has sparked intense discussion among economists and financial experts. Despite the bank’s earlier predictions suggesting a decline in both inflation rates and the pace of economic growth…
Gary Gensler defers question about his stance on Ethereum
The Ambiguous Regulatory Status of ethereum: Gary Gensler’s Cautious Approach During a recent interview on Bloomberg TV, Gary Gensler, the Chair of the United States Securities and Exchange Commission (SEC), declined to offer a definitive answer regarding ethereum’s classification as a Website security. The SEC has been evaluating various applications for spot ethereum Exchange-Traded Funds…
Tesla’s Bitcoin holdings sparks hot purchase debate
Recent Discussion in the Cryptocurrency Community: A Fresh Look at Tesla’s bitcoin Holdings The cryptocurrency world has been abuzz with the latest developments concerning Tesla’s bitcoin holdings. This renewed interest is due to the integration of Tesla’s wallet tracking feature into Arkham Intelligence’s dashboard, which revealed that as of the most recent data, Tesla’s bitcoin…
Philippines launches regulatory measures against unlicensed exchanges
The Philippines National Telecommunications Commission (NTC) has taken a significant step forward in regulating the burgeoning cryptocurrency market by launching an initiative to tackle unlicensed cryptocurrency companies operating within the country. This move comes in response to recent reports that websites affiliated with crypto firms MiTrade and OctaFX have been blocked by one of the…
Zama secures $37 million funding to revolutionize data privacy
French Cryptography Startup Zama Secures $73 Million in Funding for Groundbreaking Fully Homomorphic Encryption (FHE) Technology Zama, a pioneering French cryptography startup, has announced an impressive fundraising round of $73 million in Series A investment. This significant financial boost, led by Multicoin Capital and Protocol Labs, highlights the surging interest and confidence in Zama’s ambitious…
Las Vegas CEO faces 127-year sentence for Bitcoin cartel laundering
In a major blow to the cryptocurrency world, Martin Mizrahi, the CEO of a Las Vegas-based internet service provider, has been found guilty on multiple charges including wire fraud, money laundering, and identity theft in a 12-day trial held at the Manhattan federal court. The verdict against Mizrahi, who is 53 years old, carries a…
South Korea’s Bitcoin Kimchi Premium hits new peaks
bitcoin-btc-faces-downward-pressure/” target=”_blank” rel=”noopener”>bitcoin (btc), the world’s largest cryptocurrency by market capitalization, has experienced a remarkable price recovery in recent days, surpassing the $66,000 mark after a brief dip. This upturn is not only noteworthy for bitcoin’s price action but also significant in the context of South Korea, where the famed “Kimchi premium” has reached its…
Shibarium sets a record with over 400 million transactions
Title: Shibarium’s Remarkable Journey: Processing Over 400 Million Transactions and the Growth Drivers of the Shiba Inu Layer 2 Blockchain Network The Shibarium (shib) blockchain network, the Layer 2 scaling solution for Shiba Inu, has reached an impressive milestone by processing more than 400 million transactions. This significant accomplishment signifies a major stride for the…
Binance.US struggles amid SEC lawsuit and banking hurdles
Recently, the United States Securities and Exchange Commission (SEC) filed a lawsuit against us-non-compliance/” target=”_blank” rel=”noopener”>Binance.US, which has led to significant operational and financial challenges for the cryptocurrency exchange. According to Christopher Blodgett, the Chief Operating Officer of Binance.US, during a deposition shared in a court filing on March 5, the legal action has rendered…
Shiba Inu community anticipates ICANN approval for SHIB names
A Groundbreaking Moment for the Shiba Inu Community: Introducing shib Names The dynamic team behind price-drop/” target=”_blank” rel=”noopener”>Shiba Inu, in a collaborative effort with D3 Global, has announced the launch of “shib Names,” an innovative Website domain name service specifically designed for the Shiba Inu community. This announcement represents a pivotal moment in the growth…
Commissioners Peirce and Uyeda criticize SEC’s approach to crypto after ShapeShift case
SEC’s Enforcement Action Against ShapeShift: A Continuation of the Regulatory Ambiguity in the Cryptocurrency Industry The Securities and Exchange Commission (SEC) has taken a significant step by initiating an enforcement action against the cryptocurrency firm ShapeShift. The SEC alleges that ShapeShift operated as an unregistered securities dealer, and this move is in line with the…
New York Community Bank’s stock stops trading, bank seeks funding
Title: New York Community Bank’s Dramatic 42% Stock Crash and the $1 Billion Lifeline from Investors Yesterday marked a pivotal moment for New York Community Bank (NYCB) as its stock suffered a significant blow, losing 42% of its value, resulting in a trading halt. Sources close to the matter revealed that this New York-based financial…
Why was Sam Altman’s Worldcoin banned in Spain?
Spain Imposes Ban on worldcoin’s Unique Data Collection Method: The Orb worldcoin, the cryptocurrency project co-founded by Sam Altman, Max Novendstern, and Alex Blania in 2019, has encountered a significant hurdle with Spain’s data protection watchdog, AEPD. The regulator demanded an immediate halt to the collection and utilization of personal data gathered through worldcoin’s distinctive…
Fed’s Jerome Powell addresses Congress, hints at policy adjustment
Jerome Powell’s Semiannual Monetary Policy Report: A Peek into the Federal Reserve’s Economic Strategy Jerome Powell, the esteemed Chair of the Federal Reserve, recently graced Congress with his presence to present the central bank’s Semiannual Monetary Policy Report. Powell, a man of few but meaningful words, shared some intriguing insights into the Federal Reserve’s economic…
China signals potential reserve requirement cut for banks
China’s Central Bank Hints at Monetary Easing Amid Economic Uncertainties: A Glimmer of Hope or Just a Flicker? Amidst the economic roller coaster ride that China’s economy has been on, recent statements from the country’s financial leaders have brought a glimmer of hope to the table. The People’s Bank of China (PBOC) Governor, Pan Gongsheng,…
MicroStrategy boosts convertible note sale to $700M amid crypto boom
MicroStrategy’s Ambitious Plan to Capitalize on the Cryptocurrency Bull Market: Increasing Convertible Notes Sale from $600 Million to $700 Million MicroStrategy, a leading business intelligence company, has recently announced its intention to expand the sale of convertible notes from an initial $600 million to $700 million. The motivation behind this decision is to take full…
Fake-steady U.S. economy deters interest rate cuts – What to expect
Revised Economic Forecasts and the Federal Reserve: Navigating a Brighter Path for the U.S. Economy The financial news landscape is currently dominated by the Federal Reserve and the resilience of the U.S. economy, sparking a wave of revised economic forecasts and reshaping expectations for interest rate policies in the near future. Following recent strong economic…
UK regulation to accommodate stablecoins and CBDCs
The United Kingdom’s Proactive Approach to Crypto Regulation: Embracing Innovation and Ensuring Financial Stability The cryptocurrency market, stablecoins, and central bank digital currencies (CBDCs) are experiencing exponential growth, and the United Kingdom is making significant strides towards establishing a comprehensive regulatory framework to accommodate these innovative financial instruments. Varun Paul, who previously served at the…