The Tokyo Stock Exchange listed Metaplanet Inc. has purchased an additional 107.913 bitcoins (BTC) worth $69.42 million (one billion yen). This brings the company’s total bitcoin holdings to 506.745 BTC, acquired at an average price of $65,101. Metaplanet’s latest BTC purchase comes just under two months after it announced a $70 million stock rights offering […]
Metaplanet Adds 107.9 BTC, Holdings Reach 506.7 BTC Read More »
A U.S. license allowing transactions with key players in Russia’s financial system expires on Oct. 12. This could make it harder and more expensive for Russian businesses to trade with China in yuan. The yuan is currently the most traded foreign currency in Russia after Western sanctions and Russia’s de-dollarization efforts. Chinese banks are wary
US License Expiration Imperils Russia-China Trade in Chinese Yuan Read More »
The Reserve Bank of Zimbabwe (RBZ) has devalued the Zimbabwe Gold (Zig) by 44%, causing the currency to plummet from 13.98 to 24.3 against the U.S. dollar. This drastic move addresses rising exchange rate volatility and inflationary pressures that have plagued the economy since August. According to RBZ Governor John Mushayavanhu, the decision was necessary
Zimbabwe Devalues Gold-Backed Currency by 44% Read More »
The Nigerian Naira weakened significantly against the U.S. dollar following the Central Bank of Nigeria’s (CBN) decision to hike interest rates for the fifth time this year. The naira dropped to NGN1,658 per dollar on the official foreign exchange market after the CBN increased the benchmark lending rate by 50 basis points. On the parallel
Nigerian Currency Plunges After Central Bank Rate Hike Read More »
Zimbabwe’s central bank governor, John Mushayavanhu, has stated that the bank might use its foreign currency reserves to protect the Zimbabwe Gold (zig) from severe market disruptions. He also pledged to maintain a tight monetary policy to ensure stable inflation and exchange rates. The zig, a gold-backed currency, has experienced a decline in value against
Zimbabwe’s Central Bank to Shield Gold-Backed Currency From Market Volatility Read More »
The Nigerian government has filed criminal charges against four individuals and several firms for allegedly conducting illegal crypto transactions, including USDT to naira conversions, without a banking license. The four are Ejiogu A. Chinedu, Nnamdi F. Okereke, Oty Ugochukwu Stanley, and Chukwuebuka F. Ogumba. The defendants are accused of violating the Banks and Other Financial
Nigeria Accuses Four Crypto Traders of Forex Regulations Violations Read More »
A two-day pan-African AI conference was held in Lagos, Nigeria, co-hosted by the United States. The conference aimed to promote safe, secure, and trustworthy AI systems in Africa, with hundreds of attendees from various fields. U.S. Deputy Secretary of State Kurt Campbell emphasized the importance of collaboration between the U.S. and Africa in AI development
US and Africa Urged to Collaborate on AI Development Read More »
In August, approximately $310.9 million was lost to exploits, hacks, and scams. However, digital assets worth $10.3 million were recovered, resulting in a net loss of $300.6 million. According to the security firm Certik, this is the second-highest monthly loss in 2024 so far. While May had the highest exploit total loss of just over
Crypto Hacks and Scams Cost $300 Million in August Read More »
Yellow Card, a leading stablecoin platform, has partnered with Fireblocks, a digital asset infrastructure provider, to improve cross-border transactions in Africa. By leveraging Fireblocks’ technology, Yellow Card aims to provide secure and efficient on-chain solutions for businesses and individuals. This includes using Fireblocks’ Wallets-as-a-Service (WaaS) to manage and protect customer assets. This partnership addresses the
Yellow Card, Fireblocks Partner to Streamline African Cross-Border Payments Read More »
The Reserve Bank of Zimbabwe (RBZ) has denied claims that it intends to force recipients of U.S. dollar-denominated remittances to convert their funds into local currency. The central bank clarified that it has no plans to review its diaspora remittances policy. According to the RBZ, the market had misconstrued a video on social media in
Zimbabwe Central Bank Denies Forced Remittance Conversion Claims Read More »
