The Nigerian Securities and Exchange Commission (SEC) has introduced a new program to streamline the registration process for virtual asset service providers (VASPs). Accelerated Regulatory Incubation Program (ARIP) The ARIP is a 30-day window for VASPs to complete their registration requirements. It’s open to both existing and prospective VASPs in Nigeria. Registration Deadline VASPs that…
US Lawmakers’ Appeal US lawmakers are urging the release of Binance executive Tigran Gambaryan, who has been detained in Nigeria since February. Prison Visit and Health Concerns Two US representatives recently visited Gambaryan in prison and reported alarming details about his health. He is reportedly suffering from malaria, double pneumonia, and weight loss. Despite a…
Unrealized Losses Force Major Sell-Off Norinchukin Bank, a major Japanese bank, has announced plans to sell off $63 billion worth of US and European government bonds. This move aims to reduce massive unrealized losses on the bank’s balance sheet. The bank’s total assets amount to $681.6 billion. By March 2024, it expects to complete the…
Trading Support Major crypto exchanges like Coinbase and Binance have added support for ZRO, the native token of the LayerZero project. This “omnichain” protocol aims to connect different blockchains. Proof-of-Donation LayerZero has introduced a “proof-of-donation” mechanism to claim ZRO. Users can donate a small amount of cryptocurrency to support the Protocol Guild, which funds Ethereum…
Cryptocurrency exchange Gemini’s co-founders, Tyler and Cameron Winklevoss, have each donated $1 million worth of Bitcoin to Republican presidential candidate Donald Trump. Pro-Crypto Stances The billionaires cited Trump’s support for cryptocurrencies as their reason for donating and voting for him. Biden’s ‘War on Crypto’ Cameron Winklevoss accused the Biden administration of waging a “war on…
Mexican drug cartels have been using Bitcoin, Ethereum, Monero, and USDT to buy ingredients for producing fentanyl, a deadly synthetic opioid. This information comes from a report by the US Financial Crimes Enforcement Network (FinCEN). Cryptocurrency Transactions Cartels purchase fentanyl precursors, pill presses, and other equipment from Chinese companies using cryptocurrencies and other methods. They…
The Shiba Inu burn rate has taken a major leap, with a whopping 1,166% increase in just one day! Increased Activity and Token Burn According to Shibburn, the official burn tracker, the burn rate has spiked significantly. This means more people are burning their Shiba Inu tokens, resulting in a total of 35.29 million tokens…
An expert believes Bitcoin has historically recovered from downturns like the current one. Miner Capitulation and Bitcoin’s Price Analyst Willy Woo explains that Bitcoin’s hashrate (a measure of mining power) is linked to its price recovery. When miners find it profitable to mine Bitcoin, the hashrate increases. When it becomes less profitable, miners may disconnect…
Identity Theft and Fake Exchange Accounts A 31-year-old Melbourne man has been sentenced to two years in prison for using fake IDs to create cryptocurrency exchange accounts. The Australian Federal Police (AFP) investigation, codenamed “Operation Stonefish,” uncovered the man’s fraudulent activities. Cybercrime and Cryptocurrency The case highlights the growing connection between cybercrime and cryptocurrency. The…
Despite recent price dips, analysts predict Bitcoin will soar to $100,000. Banking Crisis in the US Concerns are growing about the financial stability of US banks. A report reveals that 68 banks hold over $500 billion in unrealized losses, primarily from investment securities. This raises fears of potential market destabilization. Bitcoin as a Safe Haven…
