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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 […]

Crypto

Crypto billionaire Bankman-Fried loses 94% wealth

Crypto billionaire, Sam Bankman-Fried, has experienced a 94 per cent overnight decline in his wealth, according to the Bloomberg Billionaires Index. The Bloomberg wealth index predicted that current FTX investors, such as Bankman-Fried and Alameda, will lose everything due to Binance’s upcoming bailout of FTX. Sam Bankman’s net worth had decreased from $15.6 billion on […]

News

7.6 million South Africans invest in crypto – Study

About 22 per cent of adults in South Africa are cryptocurrency investors according to a study by Kucoin. This translates to 7.6 million people aged between 18 and 60. The study also found that 65 per cent of crypto investors in the nation ‘consider crypto to be the future of finance.’ According to the report, […]