Bayo Onanuga, a special adviser to the Nigerian president, has leveled accusations against Binance, blaming it for exacerbating the local currency’s depreciation against major currencies. Onanuga called for immediate action against Binance, warning that its activities could potentially undermine the economy. Binance, however, has refuted these allegations, attributing the naira’s depreciation to “complex factors” that […]
LBank Exchange Will List The Quantum Resistant Ledger (QRL) on March 1, 2024
PRESS RELEASE. Road Town, BVI, February 29th, 2024 – In a significant move for cryptocurrency and mobile technology enthusiasts, LBank Exchange, a premier global digital asset trading platform, has announced the listing of The Quantum Resistant Ledger (QRL) on March 1, 2024. Users of LBank Exchange can brace themselves for the QRL/USDT trading pair, which […]
Nigeria Detains Two Binance Executives, Crypto Platform Accused of Exchange Rate Manipulation
Nigerian authorities have reportedly detained two senior executives from Binance who had recently arrived in the country. The Central Bank of Nigeria’s governor stated that in 2023 alone, $ 26 billion flowed through the cryptocurrency exchange from sources and users that the bank could not adequately identify. Passports of Binance Executives Seized Authorities in …
Peruvian Stock Exchange Announces Bitcoin Spot ETF Listings
The Lima Stock Exchange, the main Peruvian exchange, announced the inclusion of three different bitcoin spot ETF instruments in its trading platform. Ishares Bitcoin Trust (IBIT), Vaneck Bitcoin Trust (HODL), and Invesco Galaxy Bitcoin (BTCO) will be the instruments made available for Peruvians, which come to diversify the investment options for traditional investors in the […]
Crypto Exchange Bitforex Suspends Withdrawals Following $56.5M Drain From Hot Wallets
Bitforex, a centralized cryptocurrency exchange, abruptly halted user withdrawals. This sudden action occurred just moments after a reported $ 56.5 million was removed from the platform’s hot wallets. According to online crypto investigator Zachxbt, the Bitforex team has ceased all communication with users. No Official Word From the Bitforex Team On Feb. 23, Bitforex, …
Crypto Exchange Kraken Shares ‘Real Story’ of SEC Lawsuit — Claims SEC Seeks ‘Boundless Authority’ Over Commerce
Cryptocurrency exchange Kraken has shared what it called “the real story” of the lawsuit against it by the U.S. Securities and Exchange Commission (SEC). Kraken also explained why it is moving to dismiss the case. “Crypto innovators in the United States should not have to fear retaliation for their political speech. They should be free […]
LBank Exchange Will List beoble (BBL) on February 28, 2024
PRESS RELEASE. Road Town, BVI, February 27, 2024 – In a significant move for cryptocurrency and mobile technology enthusiasts, LBank Exchange, a premier global digital asset trading platform, has announced the listing of beoble (BBL) on February 28, 2024. Users of LBank Exchange can brace themselves for the BBL/USDT trading pair, which will go live […]
Nigerian Users Criticize Binance for Imposing Exchange Rate Caps on USDT to Naira Transactions
Some Nigeria-based users of Binance’s peer-to-peer platform have blasted the crypto exchange’s decision to block or remove traders quoting USDT to naira exchange rates exceeding NGN1,802. Binance says it has the right to remove “users behaving in a malicious or manipulative way.” The Nigerian Currency’s Woes Some Nigerian users of Binance’s peer-to-peer (P2P) platform have […]
Cryptocurrency Exchange Bitget Eyes Latam Expansion
Bitget, a top 15 cryptocurrency exchange, is seeking to expand its operations in Latin America, a market traditionally dominated by incumbents like Binance and Bitso. Maximiliano Hinz, Bitget’s growth director for Latam, believes that the exchange can differentiate by focusing on serving beginner investors with tools like its copy-trading feature. Bitget Aims to Gain Traction […]
Cryptocurrency Exchange Fixedfloat Hacked, Close to $26 Million Lost in BTC and ETH
Fixedfloat, an automatic cryptocurrency exchange, has been hacked by an unknown attacker who siphoned almost $ 26 million worth of BTC and ETH. The exchange, which has already acknowledged the attack, is investigating the event and working to eliminate all possible vulnerabilities. Meanwhile, Fixedfloat’s platform remains closed until further notice. Fixedfloat Loses $ …
Nigeria’s Headline Inflation Increases as Central Bank Intensifies Foreign Exchange Controls
In the first month of 2024, Nigeria’s headline inflation rose from nearly one percent to 29.9%. However, on a year-on-year basis, the January 2024 headline inflation rate was 8.08 percentage points higher than the January 2023 rate. Many commentators identify foreign exchange shortages as the root cause of the naira’s poor performance against major currencies. […]
Sushi Partners With Layer N to Launch High-Speed Derivatives Exchange
Sushi, the multi-chain decentralized exchange (dex), plans to launch a new high-speed derivatives exchange called Susa using Layer N’s scaling technology, Sushi revealed on Tuesday. The partnership aims to rival centralized exchanges by processing over 100,000 transactions per second with milliseconds of latency. Susa’s Debut on Layer N Promises New Era for Dex Platforms Sushi […]
DOJ Charges Belarusian National With Money Laundering Conspiracy and Operating Unlicensed Crypto Exchange
The United States Department of Justice (DOJ) has charged the Belarus national Aliaksandr Klimenka with money laundering conspiracy and the operation of an unlicensed money services business. Most of these criminal activities were perpetrated via BTC-e’s servers in the U.S. which were “leased to and maintained by Klimenka and Soft-FX.” According to the DOJ, Klimenka […]
Nigeria Forex Crisis: Central Bank Removes Cap on Exchange Rate for International Money Transfer Operators
The Central Bank of Nigeria announced on Jan. 31 that it had removed caps on naira payout rates that international money transfer operators are allowed to quote. The central bank said the policy change is an effort aimed at further liberalizing the foreign exchange market. The naira’s Feb.1 gain versus major currencies has been attributed […]
Gala MUSIC Launches on LBank Exchange: A New Era in Music Streaming and Blockchain Technology
PRESS RELEASE. In an exciting development for music enthusiasts and blockchain aficionados alike, Gala MUSIC, a trailblazing decentralized music platform, has officially launched on LBank Exchange. This launch marks a significant milestone in the evolution of the music industry, intertwining the transformative power of blockchain technology with the universal language of music. Redefining Music Streaming: […]