Authorities in Nigeria have been told to consider upgrading the country’s cryptocurrency regulatory guidelines because current regulations are not consistent with the realities on the ground. According to legal experts, the growing interest in cryptocurrencies by Nigerians means the country needs to have “clear-cut guidelines” for the industry. Nigerians Continue to Defy Central Bank Legal
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As September 13th, the date of the much anticipated Ethereum mainnet merge approaches, the crypto community believes it will determine the fate of both the Ethereum blockchain and the wider crypto ecosystem. However, there is another event set to take place on the same day that may impact the market, the release of the US
A judge in the collapsed online bitcoin trading platform Mirror Trading International’s liquidation case has issued a provisional liquidation order that outlines the criteria to be used when reimbursing investors. The order also reportedly directs the liquidators to regard bitcoin “as [an] intangible asset that constitute[s] property.” Claims for Reimbursement Must Be Submitted in Local
Bitcoin (BTC) whales are betting on a rebound as fresh data shows “classic” bottom behavior. According to on-chain analytics platform CryptoQuant, large-volume investors are moving coins to derivatives exchanges en masse this month. Analyst: Whales protectin positions “forming a local bottom” As BTC/USD hit its lowest levels since the end of June, whales were responding
Crypto analytics firm Chainalysis has suggested that the price of Ether (ETH) could decouple from other crypto assets post-Merge, with staking yields potentially driving strong institutional adoption. In a Sept. 7 report, Chainalysis explained that the upcoming Ethereum upgrade would introduce institutional investors to staking yields similar to certain instruments such as bonds and commodities, while also
The DAO behind the decentralized finance (DeFi) platform Aave has accepted a proposal to reward members from Aave Companies with $16.28 million in retroactive funding for their role in the development of Aave Protocol V3. Voting for the proposal began on Sept. 6, and at the time of writing has already passed 667,000 votes in
A cryptocurrency investor has reportedly sued South Korean crypto exchange Upbit after the trading platform delayed processing his luna coin transfer prior to its crash. The Korean crypto exchange is investigating the details of the lawsuit. Upbit Sued by Crypto Investor Dunamu Inc., the company that operates the South Korean cryptocurrency exchange Upbit, has been
A federal judge in California has ruled that Apple Inc. is shielded from the “Toast Plus” class action lawsuit where a fake crypto wallet app was available in the Apple App Store. A customer sued the tech giant after downloading the fraudulent app and lost some crypto. Apple Not Liable for Loss After Customer Downloaded
Bloomberg analyst Mike McGlone has labeled Bitcoin (BTC) a “wild card” which is “ripe” to outperform once traditional stocks finally bottom out. In a Sept.7 post on Linkedin and Twitter, McGlone explained that while the United States (U.S.) Federal Reserve tightening will likely determine the direction of the stock market, Bitcoin remains a “wildcard” that
Mizuho Securities’ head of global macro strategies has warned that an IMF bailout may be in the U.K.’s future. Moreover, a former chancellor of the exchequer cautioned that Britain is entering a long and severe recession, emphasizing that it’s “the worst since 1990 and it may be the worst since before that.” Strategist Discusses Possibility
The Vermont Department of Financial Regulation, or DFR, alleged crypto lending platform Celsius Network and CEO Alex Mashinsky misled state regulators about the firm’s financial health and its compliance with securities laws. In a Wednesday filing with the U.S. Bankruptcy Court in the Southern District of New York, Vermont’s financial regulator said Celsius and Mashinsky
The bitcoin mining company Cleanspark revealed on Wednesday that the company has signed a purchase agreement for 10,000 new Bitmain Antminer S19j Pro mining rigs for $28 million. Cleanspark expects the machines to be delivered to the company’s facilities by the end of October or early November 2022. Cleanspark Inks Deal with Cryptech Solutions —
The Ethereum Merge is fast approaching, and the anticipation around the upgrade has led to some interesting happenings in the crypto sector. It has propelled the price of the digital assets to new highs, even with the downtrend, holding its value better than most of the market. Ethereum has now marked another new high ahead
Two United States government financial officials gave speeches on Sept. 7 in which they expressed their positions on crypto regulation. Both had reservations about crypto. Michael Barr, who was recently appointed United States Federal Reserve Board vice chair for supervision, made his first speech in his new capacity at the Brookings Institute. Acting Comptroller of
The United Kingdom’s independent advertising regulator has upheld a complaint involving former reality show Love Island contestants Eve and Jessica Gale for “triviali[zing] investment in cryptocurrency.” In a Wednesday notice, the U.K. Advertising Standards Authority, or ASA, said the reality stars promoted crypto in an Instagram story in June at the request of an influencer
With the global economy looking gloomy and financial trade more restricted than ever before in history, government-mandated prices are seemingly coming back with a vengeance. Europe is suffering from significant financial hardships stemming from the Ukraine-Russia war, and just recently the Kremlin disrupted the European Union’s main gas supplies. Now members of the European Commission
Ethereum price is close to reclaiming the area lost during yesterday’s downside action while Bitcoin slowly crawls back into $19,000. The second cryptocurrency by market cap is about to experience a major event with high potential to operate as a bullish catalyst, “The Merge”. At the time of writing, Ethereum price trades at $1,570 with
On Wednesday, the U.S. subsidiary of cryptocurrency exchange Binance announced that it would introduce an Ethereum (ETH) staking program with annual percentage yields of up to 6.0%. Unlike direct staking on the Ethereum network, which would require 32 ETH, only 0.001 ETH would be required under the new service introduced by Binance US. Regarding the development,
On September 5, Binance explained that it planned to drop a number of usdc trading pairs and auto-convert specific stablecoin balances into busd by September 29. While the move was controversial among crypto proponents on social media, Circle Financial CEO Jeremy Allaire explained that the change “will likely lead to more usdc flowing to Binance.”
Bitcoin (BTC) crashed below $19,000 on Sept. 6, driving the price to its lowest level in 80 days. The movement not only completely erased the entirety of the 32% gains accrued from July until Aug. 15, it also wiped out $246 million worth of leverage long (buy) futures contracts. Bitcoin price is down for the