BitForex, an exchange that used to be one of the leading crypto exchanges, has gone under after allegedly disappearing with at least $57 million in customers’ funds. A few days before the Hong Kong-based exchange’s disappearance, it published on its now inaccessible site that its CEO and co-founder Jason Lou stepped down as CEO. Background On February … Read more
From outright ban to hefty fines worth billions of U.S. dollars, Binance continues to face harsh regulatory challenges around the world, making it difficult to make its services available in the affected locations. The largest cryptocurrency exchange by volume experienced a push back recently in Africa’s largest crypto market, Nigeria, and in the United States, … Read more
To some people, cryptocurrency investment is the new oil-money, but it comes with lots of risks and the major challenges facing it is scams, which come in different forms. Research indicates that existing scams persist, albeit with modified tactics aimed at deceiving cryptocurrency holders, especially during the Bitcoin boom. For instance, scammers may be particularly … Read more
The buzz around the proposed new cNGN stablecoin by the Africa Stablecoin Consortium (ASC), comprising four banks and five other blockchain stakeholders, is phenomenal. Unlike eNaira, which is a Central Bank Digital Currency (CBDC) owned and managed by the Central Bank of Nigeria (CBN) with various limitations and restrictions due to its design, cNGN, the … Read more
Key Takeaways: What is Tether Gold (XAU₮)? Tether Gold (XAU₮) is a form of stablecoin backed by physical gold which provides you ownership on a 1:1 basis of one fine troy ounce of gold on a physical bar of gold. The power of blockchain technology gives you access to a stablecoin, which provides ownership of … Read more
What is BitForex Token? The native digital asset of BitForex exchange is BitForex Token. Digital asset trading, loans, and asset management are some of the services provided by the exchange. Security warning: BitForex Exchange is no longer available. The founders’s whereabouts are unknown following their disappearance with about $60 million in users’ money. The official … Read more
There are many dramatic events in the price of Bitcoin in December 2023, which isn’t surprising anyway. First, it crossed $40k for the first time since April 2022. April 28, 2022, was the last time BTC touched $40,269.47, before slipping below $40k. Second, it took a nosedive movement – below $41,000 on the 11th of … Read more
After closing at $34,667.78 USD/Bitcoin in October, Bitcoin began November on a promising note at $34,657.27/BTC with $35,527.93 as the highest price for the day, before closing the day at $35,437.25. For the first time in the year, it reached $38,415.34 on November 24, 2023, and finally ended the month at $37,712.75 Even at that, … Read more
After closing at $26,967.92 USD/Bitcoin in September, Bitcoin price on October 1 showed no major upset, opening the day at $26,967.40, before closing the day at $27,983.75. Interestingly, BTC price traded above $35K for the first time in 2023, reaching $35,150.43 on October 24, before slipping back to $33,901.53 by the end of the day. Here is an … Read more
Tether is a fiat-collateralized stablecoin pegged 1:1 to the US Dollar (USD) that offers its users a hedge of transacting with blockchain-based assets with the sole aim of mitigating price risk. Tether is powered by blockchain technology and primarily issued on the Ethereum and TRON blockchains with USD sitting in bank accounts. Key Takeaways: History … Read more