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Tag: Crypto

Binance working with Nigeria govt to resolve exec's detention, CEO says
Crypto

Binance, Coinbase suffer restriction in Nigeria

Some cryptocurrency exchanges in Nigeria encountered accessibility challenges, leading to speculation about potential restrictions on crypto sites, as reported by the Financial Times. Local media previously suggested that Nigeria’s apex bank instructed the Nigerian Communications Commission, the telecom regulator, to suspend access to crypto websites, including Binance, Coinbase, and Kraken. This development came shortly after […]

Cryptocurrency stocks climb as Ether hits six-month high
Crypto

CBN allegedly plans to shutdown crypto websites in Nigeria

The Nigerian government is reportedly taking steps to shut down cryptocurrency websites within the country, potentially aiming to block Nigerians from accessing such platforms to counteract the depreciation of the naira. According to Techpoint Africa, telecommunications companies might receive instructions to prevent people from visiting these cryptocurrency sites. This development follows the suspension of peer-to-peer […]

FG moves to restrict Binance, other crypto platforms
News

FG moves to restrict Binance, other crypto platforms

Nigerian government is contemplating the restriction of access to Binance and similar cryptocurrency platforms over the decline of the Naira. This consideration stems from concerns over alleged manipulation of the foreign exchange market and unauthorized financial flows, which are believed to be contributing to the naira’s significant devaluation, reaching a record low of N1,800 against […]

Crypto

A&D Forensics trains specialist on cryptocurrency crimes

By Melvin Onwubuke Digital blockchain and forensic company, A&D Forensics, trained a new set of Crytocurrency Currency Compliance Specialist (3CS) to track suspicious financial transactions. According to BusinessDay, the Co-founder and Senior Partners at A & D Forensics in Abuja, explaining the significance of the ongoing training initiative said “effective compliance is crucial to prevent […]

Crypto firm Polygon Labs lays off staff
Crypto

Crypto firm Polygon Labs lays off staff

Polygon Labs, a cryptocurrency firm specializing in enhancing accessibility to the digital coin Ethereum, has announced plans to reduce its global workforce by 60 employees, constituting approximately 19% of its total staff. This marks the second round of layoffs for Polygon Labs, which previously released 100 employees in February last year amid a widespread downturn […]

Iranian hackers target US elections, Microsoft warns
Crypto

Hackers stole $1.7bn crypto in 2023 – Report

In 2023, cryptocurrency platforms experienced approximately $1.7 billion in theft due to hacker attacks, a significant drop of 54.3% from the previous year, a report released by Chainalysis on Wednesday said. The crypto industry continues to grapple with cyber attacks, which remain a major concern and contribute to the skepticism of regulators worldwide towards cryptocurrencies. […]

Binance working with Nigeria govt to resolve exec's detention, CEO says
Crypto

Binance opens crypto trading in Thailand

Alex Omenye Binance said on Tuesday that it has made its bitcoin exchange available for trade in Thailand. According to a release, Gulf Binance is a joint venture between Binance and Gulf Innova of Thailand. It will function as an exchange and brokerage platform that lets customers buy and sell digital assets using local currency […]

OpenAI is facing ongoing capacity challenges following the launch of its viral image generation feature last week, as a result, the company has temporarily disabled
News

Apple removes Binance, crypto apps from India App store

Alex Omenye Apple have removed at least nine cryptocurrency exchanges’ applications, including those from Binance and Kraken from the Indian App Store. This comes less than two weeks after the majority of these international companies were accused of conducting business in the country “illegally.” Nine cryptocurrency companies received show-cause notifications from the Financial Intelligence Unit, […]

Business email hack rises by 1,760% in 2023 – Report
News Tech

Hackers stole $2 billion in crypto in 2023 – Report

A 2023 report has revealed that cybercriminals successfully stole around $2 billion in cryptocurrencies through various cyberattacks. According to the report by De.FI, the security firm overseeing the REKT database, this year underscores the existing vulnerabilities in the cryptocurrency space and the ongoing efforts being undertaken to mitigate these risks. “This amount, though dispersed across […]

Crypto company Yellow Card to apply for license in Nigeria
Crypto News

Crypto company Yellow Card to apply for license in Nigeria

A Pan-African exchange, Yellow Card Financial Inc., is poised to swiftly apply for a license in Nigeria following the recent lifting of the cryptocurrency ban imposed by the country’s central bank in 2021. Ogochukwu Umeokafor, the Director of Product Management at Yellow Card, expressed eagerness to seize this opportunity, stating, “Wou’ve waited for something and […]

The Central Bank of Nigeria has issued a circular aimed at addressing suspected cases of excessive foreign currency speculation and hoarding by Nigerian banks.
featured News Tech

CBN lifts restriction on bank crypto transactions

The Central Bank of Nigeria has lifted the ban on banks facilitating cryptocurrency transactions and has issued guidelines for financial institutions engaging with entities providing crypto services. This move comes two years after calls from crypto enthusiasts and companies for the apex bank to lift the restriction. According to a circular sent to banks and […]

Bitmama acquires PayDay
Crypto News Tech

Bitmama acquires PayDay

Blockchain payments platform Bitmama Inc. has confirmed the acquisition of Payday, a virtual card service provider, marking a significant move in Nigeria’s fintech scene. This comes nine months after Payday raised $3 million in a seed round and three months after it acknowledged that the company was exploring sale alternatives. The transaction, which was made […]

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