African News
Dave Ramsey’s crypto caution – Should you listen? Experts debate
Financial Guru Dave Ramsey Expresses Caution Against Cryptocurrencies Dave Ramsey, the esteemed financial expert and CEO of Ramsey Solutions, has raised red flags about cryptocurrencies, asserting that they constitute a risky investment. Ramsey’s skepticism highlights concerns shared within the financial community regarding the volatility and speculative nature of digital assets. Background and Influence of Dave…
Nigerian government denies $10 billion Binance fine rumor
Recently, there have been rumors circulating regarding a potential $10 billion fine imposed on the global cryptocurrency exchange Binance by the Nigerian government. However, these allegations have been refuted by Bayo Onanuga, the Special Adviser to the Nigerian President on Information and Strategy. In a statement clarifying the situation, Onanuga denied having confirmed any decision…
CBN Revokes 4,173 Exchange Bureaus to Strengthen Nigeria’s Financial Market
At a Glance The Central Bank of Nigeria (CBN) has revoked the licenses of 4,173 exchange bureaus due to non-compliance with regulatory guidelines. New CBN regulations mandate a minimum capital requirement of 2 billion nairas for Nigerian exchange bureaus, promoting financial stability. CBN’s crackdown on illegal forex trading increases transparency and reinforces Nigeria’s financial system…
Eurozone sees cooling inflation as February rates dip to 2.6%
February’s Modest Inflation Rate: A Reprieve for the Eurozone, But Not a Cause for Celebration The chill in the air during February brought a slight easing to the inflation rates of the Eurozone, which settled at a modest 2.6%. While this might seem like a positive development, it’s essential to understand that it represents only…
Inside BRICS’ massive $35 billion economic stimulus package
Record-Breaking Urban Development Deal: Egypt and UAE Team Up for $35 Billion Investment The financial world was abuzz on Friday, as the BRICS bloc unveiled a groundbreaking new economic strategy. The latest addition to this formidable alliance, Egypt and the United Arab Emirates (UAE), have announced an unprecedented $35 billion investment in urban development for…
Is Myanmar going to be the next country that joins BRICS? – What we know
Myanmar’s Ambitious Plan to Join the BRICS Currency Circle in 2024 Myanmar, the southeast Asian nation, has expressed its intent to join the BRICS currency circle by 2024. The country’s commitment to the BRICS single currency initiative was confirmed by Kan Zaw, Myanmar’s Investment and Foreign Economic Relations chief. This announcement follows Myanmar’s growing engagement…
Solana surges more than 30% – Will the weekend’s historic negative sentiment affect its price?
solana, a prominent player in the crypto market, has recently witnessed a substantial price surge of over 30% within a week. This significant uptick reflects growing confidence and optimism among investors regarding solana’s capabilities. However, some concerns have arisen about the potential impact of historic negative sentiment over the weekend on its price movement. solana…
Which crypto exchange made it to Hong Kong’s license application deadline?
Hong Kong: A Blossoming Hub for the Crypto Industry Amidst Intense Competition The crypto industry is witnessing significant growth in Hong Kong, with a remarkable 24 businesses applying for licenses to operate digital-asset exchanges within the jurisdiction. This development comes as the city aims to establish itself as a regulated hub for the industry, attracting…
Binance recovers $4.4 Billion amid deposit woes
Binance: The World’s Leading Crypto Exchange Successfully Recovers $4.4 Billion in Mishandled Digital Assets for Users Binance, the world’s leading cryptocurrency exchange, has recently announced that it has successfully recovered a total of $4.4 billion in digital assets for its users who experienced mishandled deposits over the past two years. This significant recovery is a…
Biden gets what he wants, dodges US government shutdown
Title: Biden Signs Temporary Government Funding Bill After Bipartisan Effort Amid Looming Shutdown Threat and Debate over Spending Priorities The United States government narrowly avoided a shutdown as President Joe Biden signed a bill into law on the brink of the deadline, with both houses of Congress approving it in a rare display of bipartisanship….
Arbitrum Set to Unlock Over $2 Billion in Tokens on March 2024
Arbitrum’s Upcoming $2 Billion token Unlock: A Major Milestone in ethereum’s Layer 2 Scaling Protocol Arbitrum, the highly anticipated ethereum Layer 2 scaling solution, is set to release over $2 billion worth of ARB tokens on March 16, 2024. This substantial token unlock, as per the data from token Unlocks, represents one of the most…
Indonesia to consider changes in crypto taxation amid industry concerns
Call for Tax Policy Review on Cryptocurrencies in Indonesia: An Urgent Need to Ease the Burden The Indonesian Commodity Futures Trading Supervisory Agency (Bappebti) has added its voice to the growing chorus of stakeholders demanding a review of the country’s tax policies on digital assets. Currently, cryptocurrencies in Indonesia are classified as commodities, making them…
Elon Musk sues OpenAI and Sam Altman over agreement breach
Elon Musk’s Legal Dispute with OpenAI and Its CEO, Sam Altman: A Battle Over the Future of Artificial General Intelligence (AGI) Elon Musk, the innovative entrepreneur behind companies like SpaceX and Tesla, has found himself at the center of a contentious legal performance with OpenAI, a leading artificial intelligence (ai) research organization, and its CEO,…
Bitcoin analyst says bulls entering the market are late
Over the past few weeks, bitcoin (btc) has witnessed an impressive surge in value, breaking through the $60,000 threshold and reaching new heights that come tantalizingly close to its previous all-time high of nearly $69,000. This stunning rise has naturally piqued the interest of many investors and traders, who are eager to capitalize on this…
Portal’s gaming token hits $425 million in market cap
Portal’s Debut: A New Milestone for the Gaming token and Cross-Chain Platform The crypto community has been abuzz with excitement following the recent launch of Portal, a groundbreaking gaming token and cross-chain platform. This highly anticipated project made its grand entrance into the marketplace, with airdrop participants and Binance token stakers looking on with great…
Elon Musk’s Neuralink under FDA criticism over animal welfare practices
FDA Discovers Lapses in Neuralink’s Animal Welfare Practices: Ethical Concerns and Debates Recent revelations from the United States Food and Drug Administration (FDA) have brought significant attention to Neuralink, a brain chip startup founded by Elon Musk, regarding their animal welfare practices during research and experimentation. According to documents obtained by Redica, a regulation-focused data…
Crypto King Returns: Bitcoin’s dominance hits 2-month high
The metric of bitcoin dominance, which represents bitcoin’s share of the total cryptocurrency market, has risen to a two-month high, reaching almost 50%. This surge in bitcoin dominance suggests that investors are showing a growing preference for bitcoin over alternative cryptocurrencies (altcoins) amidst a cooling-off period in the crypto markets following substantial gains. The dominance…
$2B Bitcoin options set to shake crypto markets – Here’s what you need to know
The crypto markets are currently focused on the impending impact of the expiry of a substantial $2 billion bitcoin options contract, an event that occurs regularly and significantly influences market sentiment, volatility, and price movements in the crypto space. As of March 1, approximately 32,200 bitcoin options contracts are set to expire, with another large…
Crypto market highlights at the start of March 2024 – All you need to know
The crypto market in March 2024: The crypto market at the beginning of March 2024 showcases both promising trends and challenges, reflecting its dynamic nature. Despite occasional fluctuations, the overall trend in the crypto market continues to be bullish. bitcoin, the flagship cryptocurrency, has been leading the charge with its price surpassing significant milestones. Bullish…
Trouble in paradise: South Africa wants to ditch BRICS foreve
South Africa’s Upcoming Elections: A Potential Game Changer for BRICS The political landscape in South Africa is abuzz with speculation about the upcoming elections and their potential impact on the country’s membership in BRICS. In an exclusive interview with Russia’s TASS Publication, South Africa’s Ambassador to Russia Mzvukile Jeff Maqetuka shed light on this intriguing…