Author: News Room
Binance’s operation in Africa’s biggest cryptocurrency market is under intense scrutiny, with Nigerian authorities accusing the crypto giant and a host of other exchanges of infractions including currency manipulation and facilitating transfers of illicit funds. With one Binance executive in custody in Nigeria, and a second having fled the country after having been detained, Nigerian authorities have singled out the exchange for circumventing Nigerian laws and for tax evasion. According to court papers shared with Decrypt, Nigerian authorities alleged Binance, along with its regional head for Africa Nadeem Anjarwalla and its Head of Financial Crime Compliance Tigran Gambaryan, “carried on…
When it comes to crypto wallets, MetaMask has long been one of the most popular go-to storage solutions for digital currency enthusiasts around the globe. Coming in the form of a browser extension, it allows users to seamlessly interact with a wide array of Ethereum-based decentralized applications (dApps). One key feature that has contributed to MetaMask’s widespread adoption is its user-friendly interface with the wallet providing a simple and intuitive way for users to manage their assets, send and receive transactions, and connect to various dApps. Additionally, MetaMask’s browser extension functionality allows users to access their wallets and interact with…
On April 8, 2024, Zimbabwe officially launched its new gold-backed currency, the ZiG (Zimbabwe Gold). According to a report by Kitco News published on April 5, the introduction of the ZiG is a significant step towards establishing a solid and stable national currency and combating the country’s economic instability and rampant inflation. The Reserve Bank of Zimbabwe (RBZ) announced the new currency on April 5, 2024, stating that it would be backed by gold and a basket of foreign currencies, as reported by Kitco. The decision comes as the current Zimbabwe dollar has experienced a sharp decline against the U.S.…
In approximately 10 days, the Bitcoin community will witness a significant event, i.e., the Bitcoin halving. This phenomenon will halve the reward for mining a Bitcoin block from 6.25 to 3.125 Bitcoins, putting pressure on miners’ profitability. Miners are now in a race against time, requiring higher Bitcoin prices to maintain their earnings. Why Bitcoin Miners Will Face Challenges According to a CryptoQuant’s report shared with BeInCrypto, miner hashprice have dipped 30% since the last halving in May 2020. Currently valued at $0.11 per Terahash per second, this figure is poised to drop to $0.055 after the halving, assuming stable…
The latest data reveals that Blackrock’s spot bitcoin exchange-traded fund (ETF) has increased its bitcoin portfolio, now encompassing 263,937.48 bitcoins valued at $17.88 billion. Spot Bitcoin ETF Reserves Reach New Heights Several U.S. spot bitcoin ETFs have bolstered their bitcoin (BTC) holdings, bringing the total for ten ETFs, excluding Grayscale’s Bitcoin Trust (GBTC), to 519,440.22 […] Read the full article here
Solana recently encountered a significant challenge with an unprecedented number of transaction failures. On Apr. 5, the network saw over 75% of its transactions fail, highlighting a critical issue for a network that has rapidly become a key player in the DeFi space, handling massive trading volumes. This surge in failed transactions raised concerns about the network’s capacity to sustain its growth and maintain operational efficiency. Transactions on Solana are categorized into two types: vote and non-vote transactions. Vote transactions are related to the consensus mechanism, essentially votes by validators on the state of the blockchain. Non-vote transactions encompass all…
In the past 24 hours, Bitcoin (BTC) has rallied roughly 5%, surging past $72,000 in an attempt to retouch its all-time high. This upward trajectory has significantly reduced the number of addresses holding the digital asset at a loss. According to data on IntoTheBlock, there are currently zero BTC addresses at a loss as the cryptocurrency hovers around $72,600. Zero BTC Addresses at a Loss A few hours before writing time, a tweet by IntoTheBlock revealed that over 30,000 Bitcoin addresses were at a loss, with a volume of 10,540 BTC. However, BTC’s continuous climb has eliminated the losses, placing…
According to WhaleAlert, a blockchain tracking tool that analyzes transactions across different blockchains, a dormant address containing $115.4 million worth of Bitcoin was brought back to life for the first time in more than a decade on Saturday. Bitcoin was trading at just $440 ten years ago, meaning that the whales saw their wealth skyrocketing by more than 15,600%. At press time, the largest cryptocurrency is changing hands at $69,331 on the Bitstamp exchange, according to CoinGecko data. The recently reactivated whale address has attracted significant interest from the cryptocurrency community, with crypto enthusiasts speculating about the possible reasons behind…
1inch Network, a decentralized exchange (DEX) aggregator, has unveiled a crypto debit card with developer Baanx, powered by Mastercard. Baanx’s “Crypto Life” card is also used by crypto storage firm Ledger. Getting deeper into Web3, Mastercard was recently reported to be working with the Ethereum wallet Metamask. Decentralized exchange (DEX) aggregator 1inch Network has created a Web3 debit card in partnership with crypto card developer Baanx and powered by payments giant Mastercard, the companies said on Tuesday. The 1inch Card will allow users to use their crypto for online and in-person purchases and make cash withdrawals at supported ATMs through…
Even after an extreme crypto winter, the cryptocurrency industry has bounced back at an impressive rate. Yet, despite the rallying the sector has seen over the past few months, decentralized finance still only represents a tiny portion of active financial markets. The total market cap for cryptocurrency is currently around $2.5 trillion. To put that in perspective, the US financial market alone represents $42.6 trillion. For businesses and projects that exist in the blockchain sector, access to information from this much larger market is vital. To fulfill this need, businesses have turned to blockchain oracles – code bridges that bring…