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Nigerian crypto firm convicted for illegal USDT-Naira transactions, forfeits N140m
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Nigerian crypto firm convicted for illegal USDT-Naira transactions, forfeits N140m

The Federal High Court in Abuja has convicted Official Gredo Limited, a Nigerian cryptocurrency dealing company, for unlawfully conducting transactions converting USDT to Naira without the necessary banking license. Justice Inyang Ekwo delivered the verdict on Wednesday, following a plea bargain agreement between Official Gredo and the Economic and Financial Crimes Commission. The court ordered […]

Business

IMF seeks tougher crypto regulations

The Managing Director of the International Monetary Fund, Kristalina Georgieva, has emphasized the importance of comprehensive regulation in the cryptocurrency area in order to protect global financial stability. According to The Punch, Georgieva raised concerns about the influence of broad cryptocurrency adoption on macro-financial stability during her speech at a digital currency conference in Seoul on Thursday. […]

Patricia converts all users' Bitcoin, Naira to token
News Tech

Patricia converts all users’ Bitcoin, Naira to token

Nigerian crypto platform, Patricia has converted all outstanding Bitcoin and naira balances in every user’s wallet to the company’s token. The BTC and other tokens its users possess have been changed to the Patricia Token or PTK via the retail trading software Patricia. PTK was characterised as a stablecoin backed by the dollar in a […]

TradeFada CEO Seun Dania invests in African crypto firm Patricia
Crypto

TradeFada CEO Seun Dania invests in African crypto firm Patricia

In a LinkedIn post, the founder and CEO of TradeFada, Seun Dania, announced a significant investment in a prominent crypto company in Africa, Patricia. With Patricia being recognized as one of the top exchanges on the continent, this move by Dania is truly momentous. While the specific details of the investment remain undisclosed, the post […]

Crucial week for Worldcoin amid EU privacy scrutiny
Tech

ChatGPT maker’s Worldcoin Ignites crypto market with 60% surge

Co-founder of ChatGPT and OpenAI, Sam Altman, has successfully launched the Worldcoin Token and mainnet, gaining massive attention in the crypto space. The token’s listing on exchanges like Binance, Huobi, Bybit, and OKX resulted in an impressive 60% surge, reaching $2.69 according to Coingecko data. Worldcoin Token has been eagerly awaited and gained significant popularity […]

Bitcoin hits $30,000 as Crypto investors' confidence surges
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Bitcoin hits $30,000 as Crypto investors’ confidence surges

The crypto market is finally experiencing a much-needed resurgence following weeks of pressure and consecutive interest rate hikes from the US. On Thursday, June 22, Bitcoin made a significant profit of five percent, reaching a price point of $30,248. This breakthrough marks the first time in weeks that the leading cryptocurrency has managed to break […]

Ethereum records 267,000 new wallet creations, breaks record
Crypto

Ethereum upgrade delays crypto withdrawals worth over $1bn

Investors in cryptocurrency are experiencing delays in withdrawing funds they deposited on the Ethereum blockchain after a major software upgrade known as “Shapella.” This highlights ongoing challenges for Ethereum as it aims to become widely used for instant payments. Over $30 billion worth of ether, the second largest cryptocurrency, was expected to be unlocked by […]

Business

New FTX CEO plans to revive crypto company

Alex Omenye   FTX’s new chief executive, John Ray, is looking into the possibility of reviving the platform.     John told Wall Street Journal that he has set up a taskforce to explore the restarting FTX.com to “recover more value” for those who lost their money when the company filed for bankruptcy in November […]

Crypto featured

Binance unveils new investment platform

Crypto firm, Binance, has unveiled a new cryptocurrency investment called Binance Smart Chain to provide investors with a daily percentage dividend of 3%. The investment company stated that only consumers who participated in its presale were eligible for the three percent daily percentage. According to a statement made by the company, BSC Stake was an […]

Crypto featured

Crypto turmoil not surprising, says ECB

The recent collapse of a major cryptocurrency exchange platform that has sent shockwaves through the largely unregulated sector is “not a surprise”, a top European Central Bank official said Wednesday. The popular FTX platform filed for bankruptcy in the United States last week with a reported $8-billion hole in its finances, sparking a confidence crisis […]

Crypto

FTX crash: Nestcoin to lay off workers

Nigerian crypto startup, Nestcoin, is expected to lay off its workers after the firm reportedly lost all its assets in cash and stablecoins to the collapse of FTX. According to Nairametrics, as a result of the development, the firm is expected to reduce its workforce in order to sustain its operations. The firm also emphasized […]

Business

Binance to establish industry recovery fund

Cryptocurrency exchange currency, Binance has announced its intention to establish an industry recovery fund in the wake of the FTX crisis. According to Nairametrics, recent tweets from CEO of Binance, Changpeng Zhao, caused dramatic price jumps across the cryptocurrency market. Mr. Zhao announced the formation of an industry recovery group to support initiatives that are […]

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