Category: Cryptocurrencies

Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin to Circumvent Country’s Overvalued Exchange Rate

Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin to Circumvent Country’s Overvalued Exchange Rate

A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin to circumvent the country’s overvalued exchange rate when sending remittances. According to Lasebikan, the Central Bank of Nigeria (CBN)’s fixed exchange rate of $1: 380 is robbing recipients 20-30% of their remittance value each time […]

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Christine Lagarde: ‘The European Central Bank Cannot Go Bankrupt or Run Out of Money’

Christine Lagarde: ‘The European Central Bank Cannot Go Bankrupt or Run Out of Money’

In remarks that highlight flaws of the fiat currency system, the European Central Bank (ECB) president, Christine Lagarde, says the institution cannot go bankrupt even if it incurs losses running into trillions. According to Lagarde, normal bankruptcy rules do not apply to the ECB primarily because it is the sole issuer of euro-denominated central bank […]

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Airbnb IPO Prospectus Says Future Success Means Adapting to Cryptocurrencies

Airbnb IPO Prospectus Says Future Success Means Adapting to Cryptocurrencies

The giant online rental marketplace based in San Francisco, Airbnb is considering supporting cryptocurrencies and blockchain technology. The news stems from the company’s initial public offering (IPO) prospectus with the U.S. Securities and Exchange Commission (SEC). Airbnb’s filing notes that future success will be dependent on adapting to new technologies such as tokenization and cryptocurrencies. […]

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New Dutch Law: Clients Must Explain Why They Want To Buy Bitcoin

New Dutch Law: Clients Must Explain Why They Want To Buy Bitcoin

Netherlands-based crypto exchanges are now required by law to get additional information from clients regarding their bitcoin addresses. As part of the new requirements, which went into effect on Nov. 17, clients must now furnish exchanges with reasons why they wish to buy bitcoin. They will also need to inform the exchange officials of the […]

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Bitcoin’s Market Cap Is More Valuable Than the IMF’s Special Drawing Rights Reserves

Bitcoin’s Market Cap Is More Valuable Than the IMF’s Special Drawing Rights Reserves

At its current price per unit, the decentralized cryptocurrency Bitcoin’s market valuation has surpassed the overall value of the International Monetary Fund’s (IMF) Special Drawing Rights market (SDR $281 billion). Since the massive global market rout on March 12, bitcoin has risen over 323% since the crypto asset’s $3,600 low in 2020. The price of […]

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Bitcoin Price Spikes Over 9% as the Crypto Asset’s Value Nears $15K

Bitcoin Price Spikes Over 9% as the Crypto Asset’s Value Nears $15K

The crypto economy has jumped over the $400 billion mark and is now hovering around $414 billion at the time of publication. The largest crypto asset in terms of market cap, bitcoin has climbed over 9% during the last 24 hours steadily marching toward the $15k zone. During the last 30 days, Bitcoin (BTC) has […]

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JP Morgan Sees Millennials’ Bitcoin Preference Over Gold as Foundation for Its Long Term Success

JP Morgan Sees Millennials’ Bitcoin Preference Over Gold as Foundation for Its Long Term Success

JP Morgan says bitcoin’s 2020 surge is set to continue as the digital cryptocurrency competes better against gold as an alternative currency. In a note, the financial institution says that with millennials set to become a more important market participant in the coming years, their preference for bitcoin to gold sets up the crypto for […]

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Macro Investor Dan Tapiero on Crypto Adoption: Emerging Economies Ahead of Developed States

Macro Investor Dan Tapiero on Crypto Adoption: Emerging Economies Ahead of Developed States

Bitcoin and gold holder Dan Tapiero, says it is still early to talk of widespread crypto adoption as the proportion of users relative to the rest of the population remains low. Tapiero makes the remarks while referring to a study, which places Nigeria at top of the list of countries with the highest number of […]

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Zimbabwe’s Stock Exchange Open to Crypto Listing Subject to ‘Regulatory Approval’

Zimbabwe’s Stock Exchange Open to Crypto Listing Subject to ‘Regulatory Approval’

Zimbabwe Stock Exchange (ZSE) CEO Justin Bgoni says its recently licensed subsidiary, the Victoria Falls Stock Exchange is open to listing bitcoin and other cryptocurrencies. However, according to local media reports, any such listings are still dependent on the digital asset issuers getting “regulatory approval.” The report does not provide any details of requirements that […]

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Brazen Nigerian Crypto Scam Inksnation Still Operational Three Months After Regulator Warning

Brazen Nigerian Crypto Scam Inksnation Still Operational Three Months After Regulator Warning

One of Nigeria’s most brazen crypto scams, Inksnation remains operational and still invites new investors some three months after the country’s Securities and Exchange Commission (SEC) deemed its activities illegal. The SEC has previously warned Nigerians against investing with the scam saying doing so would be at own risk as there is no legal recourse […]

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