The Nigerian Central Bank (CBN) has successfully eliminated the $7 billion foreign exchange (forex) backlog that was pending when…
In the past 24 hours, the cryptocurrency market witnessed a 6% drop, bringing its total value down to $2.42…
The Federal Government has taken action against the online operations of Binance along with several other digital currency entities…
What is the reason behind Bitcoin? What is the point of all these coins that keep competing with each…
The social media platform, Twitter, has expanded into the finance world with a partnership with the social trading company,…
Hardware wallet manufacturer, Ledger, has raised an additional $108 million in funding for its Series C round, bringing its total raised in 2021 to $385 million. The French startup’s high-security wallets protect crypto assets by storing private keys on the device, and it estimates its hardware secures 20% of cryptocurrencies and 30% of NFTs worldwide. The latest product, the Ledger Stax, is designed to manage NFT collections and features an E Ink display. While a data breach in 2020 led to phishing campaigns, Ledger continues to be a top choice for secure crypto asset storage.
Coinbase has acquired One River Digital Asset Management to expand its services and leverage weak valuations in the digital asset industry. One River Digital Asset Management will become Coinbase Asset Management and operate as a fully-owned unit of Coinbase. The acquisition will provide institutional clients exposure to digital assets through investment products, and Eric Peters will continue to serve as CEO of Coinbase Asset Management and One River Asset Management. The move comes as the cryptocurrency exchange reported a fourth-quarter loss due to industry-wide downturn and regulatory scrutiny.
Investors have withdrawn over $6bn from Binance’s BUSD token in the past month amid regulatory scrutiny. New York’s financial regulator halted the issuance of the stablecoin due to unresolved issues with Binance’s relationship with Paxos, leading to BUSD in circulation falling by over a third. Analysts suggest that the outflow could affect Binance’s financial performance as BUSD is a significant part of its business. This comes as US authorities increase their scrutiny of the crypto industry, including stablecoins, which play a vital role in crypto trading. Coinbase also delisted BUSD due to no longer meeting listing standards.
Read about Coinbase’s Q4 report in the midst of the cryptocurrency market downturn and major bankruptcies. Despite challenges, Coinbase saw a rise in subscription and services revenue. Learn more about the report here.
The Securities and Exchange Commission announced that Kim Kardashian had created posts on social media touting a crypto asset…
Bitcoin, the world’s largest cryptocurrency, is trading at $19,448 today. The dominance of bitcoin has risen to 42.37% today,…
Bitcoin has been on a free-fall lately, with prices diving down to $20,000. But as any good investor knows,…
Bitcoin has fallen below $20,000 for the first time since December 2020 as more crypto-businesses close down. Bitcoin and…
Cryptocurrency exchange FTX will soon allow for traditional stock trading in addition to its crypto offerings, the company announced…