The Bitcoin open interest reaching an all-time high is a significant indicator of how investors are perceiving the cryptocurrency and the types of bets they are making in the market. This metric is crucial in understanding the sentiment around Bitcoin and the potential risks it might pose. As the Bitcoin open interest recently hit a
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In a unanimous decision, the United States House of Representatives passed the Financial Technology Protection Act, signaling a significant step in the fight against illicit activities and terrorism financing through digital means. This bill, introduced by Representative Zach Nunn, aims to establish a governmental working group to address these issues effectively. The proposed working group
Recently, blockchain security firm Cyvers Alert reported a significant security breach at the Indian exchange WazirX, resulting in the exploitation of approximately $235 million. The firm’s system detected multiple suspicious transactions involving WazirX’s Safe Multisig wallet on the ETH network, where a total of $234.9M of funds were transferred to a new address. It was
Recently, crypto exchange OKX has made the decision to cease operations in Nigeria due to local regulations. Nigerian clients were informed through an email that they have until August 16 to close their positions on the platform. After this deadline, users will only be able to access withdrawal services and close existing positions. This announcement
XRP, the altcoin that has been making waves in the crypto market, is currently outperforming many other cryptocurrencies in terms of both daily and weekly gains. This unexpected surge in XRP’s value has caught the attention of many investors and analysts alike. One key factor that can be attributed to this surge is the increase
In a recent hearing, Judge Katherine Polk Failla criticized Coinbase’s attempts to subpoena SEC chair Gary Gensler in the ongoing case against the firm. She expressed concerns over the company’s request for Gensler’s statements prior to becoming SEC chair in 2021, calling Coinbase’s arguments “speculative” and not persuasive. Coinbase’s lawyer defended the company’s request by
Opeyemi is more than just a proficient writer; he is an enthusiast in the exciting and unique realm of cryptocurrency. Despite it not being his initial choice, he has delved into the digital asset industry over two years ago and has found himself completely drawn to it ever since. His pride lies in unraveling the
Olubukola Akinwumi, the deputy director of the Central Bank of Nigeria (CBN), recently made serious allegations against Binance, a popular cryptocurrency exchange platform. Akinwumi accused Binance of engaging in transactions that are typically reserved for authorized banks and financial institutions. These accusations were part of his testimony in a lawsuit brought by the Economic and
South Korea’s Financial Supervisory Service (FSS) has announced plans to increase scrutiny on cryptocurrency trading platforms to eradicate fraudulent activities. This move comes as part of the regulator’s efforts to ensure fair and transparent transactions within the crypto industry. Exchanges will now be required to set up a continuous monitoring system to detect and report
Recently, the popular crypto exchange KuCoin announced that it would begin collecting a 7.5% value-added tax on trading fees from its Nigerian users starting on July 8. This move comes as a surprise to many in the crypto community, as other platforms like ByBit and Binance have not yet implemented similar tax measures. For Nigerian