Tuesday, November 30

Tag: Cryptocurrency

Details of Messi’s PSG contract leaked
Sport

Details of Messi’s PSG contract leaked

Lionel Messi is earning €30 million per season after taxes at Paris Saint-Germain, according to L’Equipe. The report also claims Messi is also being paid €1million in cryptocurrency. The 34-year-old will earn around €110m over the course of his three-year contract with the Ligue 1 giants. Messi joined PSG this summer after Barcelona were unable to register his new deal with LaLiga. The Argentinan had agreed to a 50% with Barca, but it was still not enough to beat the Spanish league’s limit. Meanwhile, Neymar is also earning €30m net per year in the French capital while France hero Kylian Mbappe is far behind on €12m (£10m/$14m) after taxes.
Hackers steal nearly $100m of cryptocurrency in Japan heist
News

Hackers steal nearly $100m of cryptocurrency in Japan heist

Liquid, a top Japanese cryptocurrency exchange platform has been hit by hackers, with almost $100m (£73m) now estimated to have been stolen. The company announced that some of its digital currency wallets have been "compromised" making it the second major theft of cryptocurrencies to take place recently. Last week, digital token platform Poly Network was at the centre of a $600m heist. 'Warm' or 'hot' digital wallets are usually based online and designed to allow crypto users to access their cryptocurrencies more easily, while 'cold' wallets are offline and harder to access and therefore usually more secure. "We are sorry to announce that #LiquidGlobal warm wallets were compromised, we are moving assets into the cold wallet," the company said on Twitter on Friday, August 20. ...
Nigerian national arrested in India for allegedly duping man of N33m
News

Nigerian national arrested in India for allegedly duping man of N33m

A Nigerian man staying illegally in India has been arrested for allegedly duping a Dehradun resident of N33.3m on the pretext of investment in cryptocurrency worth Rs 2 crores, the Uttarakhand Special Task Force (STF) said on Tuesday, August 17. According to Senior Superintendent of Police (SSP) STF, Ajay Singh, the accused identified as Ernest Michael Ohenhen fraudulently took Rs 60 lakhs from the complainant. In a joint operation, Uttarakhand STF and cyber police arrested the accused from Delhi in a case of cyber fraud. The police recovered eight cellphones, two laptops, and other gadgets from Ohenhen, who was also allegedly engaged in another cyber fraud in Devprayag, Uttarakhand.
PSG used ‘CRYPTOCURRENCY’ to secure Lionel Messi signing
Sport

PSG used ‘CRYPTOCURRENCY’ to secure Lionel Messi signing

  Paris Saint Germain pulled out all of the stops to secure the signing of Lionel Messi this summer and are propping up the lucrative salary package of football's biggest star with the inclusion of cryptocurrency assets, Sportsmail can reveal. The sporting world is still reeling from Messi's switching of allegiance from Barcelona to the French capital, after it was confirmed that he could no longer be re-registered at the Nou Camp. Eyebrows were raised when PSG immediately became frontrunners for the superstar, despite already boasting the likes of Neymar and Kylian Mbappe on their books, along with summer signings Sergio Ramos, Gianluigi Donnarumma, Georginio Wijnaldum and Achraf Hakimi. And, despite Messi's eye-watering £1million-per-week two-year deal which sees him rem...
Bayern Munich star Davies joins NFT boom with digital art collection traded through Binance
Sport

Bayern Munich star Davies joins NFT boom with digital art collection traded through Binance

The 20-year-old Canadian star has latched onto the rapidly growing financial market of virtual collectibles Bayern Munich star Alphonso Davies has become the latest football player to participate in the world of digital collectibles bought and sold using cryptocurrency. The 20-year-old released virtual art on Tuesday through the just-launched Binance Non-Fungible Token (NFT) marketplace. The pieces were crafted by illustrator Jack Perkins and relate to the Canadian left-back's blossoming on-field career in the Bundesliga. Davies' limited-edition items, attainable through the purchase of $10 packs, are broken into tiers of rarity: platinum (one in the world), gold (four in the world) and silver (49,995 in the world). Once obtained, they can be sold through the Binance exchange.
UK bans the world’s biggest crypto-currency exchange, Binance
Tech

UK bans the world’s biggest crypto-currency exchange, Binance

Binance, the world’s biggest cryptocurrency exchange, has been banned by the UK’s financial regulator. The Financial Conduct Authority (FCA) has ruled that the firm cannot conduct any “regulated activity” in the UK. It also issued a consumer warning about Binance.com, advising people to be wary of adverts promising high returns on cryptoasset investments. Binance said the FCA notice would have no “direct impact” on the services it provides from its website Binance.com. Binance’s existing crypto exchange is not UK-based so despite the FCA ruling, there will be no impact on UK residents who use the website to purchase and sell cryptocurrencies. The FCA does not regulate cryptocurrencies, but requires exchanges to register with them. Binance has not registered with the FCA and ...
Nigerian artists and entrepreneurs bank on crypto-art
Entertainment

Nigerian artists and entrepreneurs bank on crypto-art

At only 29, Nigerian pop-artist Osinachi has sold paintings on Microsoft Word for several thousand euros, or the equivalent amount in ether, a cryptocurrency often used to buy digital art. One of his works, "Becoming Sochukwuma", shows a black dancer wrapped in a tutu made of African fabric, dreadlocks tied in a bun, swirling on a computer screen. But what makes the painting truly unique is its endorsement with an NFT (Non-Fungible Token) - a set of data stored in a blockchain that is used as a certificate of ownership. The digital painting was sold in April for $80,000 worth of virtual money on the crypto-art market, a growing business in Africa's most populous country. Worldwide, NFTs, which serve as a unique identifier, have reassured collectors when buying online art an...
El Salvador Approves Bitcoin as Legal tender
News

El Salvador Approves Bitcoin as Legal tender

In a first of its kind move, El Salvador has approved bitcoin as legal tender, the county's president said. This makes El Savador the first country in the world to adopt a cryptocurrency for everyday use. Lawmakers in the Central American nation’s Congress passed a bill late Tuesday, June 8, that will eventually allow the digital currency to be used for many aspects of daily life, from property purchases to tax contributions. "The #BitcoinLaw has just been approved by a qualified majority" in the legislative assembly, President Nayib Bukele, 39, tweeted after the vote late Tuesday. "History!" the 39-year-old president added With 62 out of 84 possible votes, lawmakers voted in favor of the move to create a law to adopt bitcoin, despite concern about the potential impact on ...
Elon Musk’s cryptic tweets crash Bitcoin again
Business

Elon Musk’s cryptic tweets crash Bitcoin again

Tesla boss Elon Musk was at it again this time firing off a few cryptic tweets that appeared to lament a breakup with Bitcoin. The leading cryptocurrency slipped 4% on Friday after the tweets. Tesla’s big position in bitcoin and Musk’s large personal following often set crypto markets on edge whenever he tweets. And the price fell after he posted “#Bitcoin”, a broken-heart emoji and a picture of a couple discussing a breakup. Musk followed that up by posting a breakup comic strip and replying “nice” to an illustration of rival crypto dogecoin posted by crypto exchange Coinbase. It was unclear what, if anything, any of the tweets meant. Musk has previously said Tesla would not sell its bitcoin, but his tweets were enough to unsettle markets still fragile following May’s cr...
Southampton Players To Receive ‘Bitcoin Bonuses’ After ‘Biggest Sponsorship Agreement’ In Club’s History
Sport

Southampton Players To Receive ‘Bitcoin Bonuses’ After ‘Biggest Sponsorship Agreement’ In Club’s History

Southampton players will reportedly have the option to be paid bonuses in Bitcoin as part of a new sponsorship agreement. The Saints have struck a a three-year deal with Coingaming Group, following on from a one-year term with the company to have Sportsbet.io, one of their brands, on the front of their shirts in 2020/21. The deal with is said be worth £7.5 million a year, making it the most lucrative sponsorship contract in the club's history. And as per The Athletic, another key feature of the arrangement means Saints players will be able to be paid performance-related bonuses in Bitcoin. Achievements such as qualifying for Champions League or winning a domestic trophy could see members of Ralph Hussenhuttl's squad take home a healthy bonus that is paid entirely in the crypt...
Tesla vehicles can now be bought using bitcoin, Musk says
Tech

Tesla vehicles can now be bought using bitcoin, Musk says

Tesla Inc chief Elon Musk said on Wednesday that a Tesla vehicle can now be bought using bitcoin and the option will be available outside the United States later this year. “You can now buy a Tesla with bitcoin,” he tweeted on Wednesday. “Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.” Last month, Tesla revealed it had purchased $1.5 billion of bitcoin and would soon accept it as a form of payment for cars, sending the price of the world’s most popular cryptocurrency soaring. Musk, who has been promoting cryptocurrencies through his Twitter account, had last month criticized conventional cash, saying when it “has negative real interest, only a fool wouldn’t look elsewhere.” He had said that the difference with cash made it “adventurous en...
Cryptocurrency: Kingsley Moghalu To Address Challenges, Opportunities In Dubai
News

Cryptocurrency: Kingsley Moghalu To Address Challenges, Opportunities In Dubai

Professor Kingsley Moghalu, a 2019 presidential candidate and Central Bank of Nigeria (CBN) Deputy Governor from 2009 to 2014, will address the global controversy over the use of cryptocurrency at a forum of global leaders in cybertechnology in Dubai, United Arab Emirates. The former CBN Deputy Governor will be a Keynote Speaker at the Cybertech Global Conference, the annual gathering of the world’s top leaders in the field of cybertechnology. Moghalu was among the first Nigerians that disagreed with the Central Bank of Nigeria's decision to ban cryptocurrency-related transactions in Nigerian banks. Vice-President Prof Yemi Osinbajo later expressed the same position Moghalu took: that the risks of cryptocurrency should be managed and regulated rather than an outright ban from the...
Cryptocurrency: Nigerians Are Free To Use Bitcoin – CBN
Business

Cryptocurrency: Nigerians Are Free To Use Bitcoin – CBN

The Central Bank of Nigeria (CBN) said there was no time the bank banned the activities of Cryptocurrencies in the country. The Governor of the bank, Godwin Emefiele, disclosed this in Abuja at the 30th seminar for Finance Correspondents and Business Editors organised by the bank. Emefiele, who was represented by Adamu Lamtek, Deputy Governor, Corporates Services, said what the bank did was to protect the banking sector from the activities of Cryptocurrencies and not a ban on its activities. "The CBN did not place restrictions from use of Cryptocurrencies and we are not discouraging people from trading in it. What we have just done was to prohibit transactions on Cryptocurrencies in the banking sector."
EFCC arrest Nigerian man who defrauded US state of Virginia and collected COVID-19 relief cheque
News

EFCC arrest Nigerian man who defrauded US state of Virginia and collected COVID-19 relief cheque

Collins Samuel, a Nigerian man who fraudulently obtained $8,000 COVID-19 benefit from the U.S. State of Virginia has been arrested and remanded in EFCC custody. The suspect who was arraigned before Justice P. Mallong of the Federal High Court in Kaduna, pleaded  ‘not guilty’ to the one count charge that borders on impersonation and obtaining by false pretences. Collins was reportedly arrested in Jos, Plateau State where he fraudulently represented himself as Ashley Cooper, an American citizen affected by COVID–19. It was alleged that he obtained $8,000 in Pandemic Unemployment Assistance (PUA) from Virginia, United States and reportedly redeemed the $8,000 benefit through bitcoin wallet addresses he got from various cryptocurrency traders. Justice Mallong adjourned the case...
CBN Governor, Godwin Emefiele’s Comment about Cryptocurrency is a Smokescreen of What Politicians Want – Actor, Akah Nnani
Celebs

CBN Governor, Godwin Emefiele’s Comment about Cryptocurrency is a Smokescreen of What Politicians Want – Actor, Akah Nnani

Actor, Akah Nnani has described Central Bank of Nigeria Governor, Godwin Emefiele’s comment and justification of the ban on cryptocurrency transaction as a smokescreen for what Nigerian politicians want. Recall that Emefiele had said that cryptocurrency is used to “describe the activities of players in an electronic dark world”. In a video he shared, Nnani listed five reasons he thinks cryptocurrency transactions was banned in the country. He listed them as follows; 1. The political elite want the masses to remain poor 2. They plan on stifling trade and commerce in the south because it's the power of the people here 3. They are afraid of your emancipation 4. The Crypto ban is all a way to stop us from pulling resources together like we did durin...
VP Osinbajo Speaks Against Ban On Cryptocurrency (Video)
Politics

VP Osinbajo Speaks Against Ban On Cryptocurrency (Video)

Vice President Yemi Osinbajo has called for the regulation of cryptocurrencies in the country instead of the ban placed on it by the Central Bank of Nigeria. Osinbajo made the call when he spoke at the Bankers Committee Vanguard in Lagos State today February 26. He shared a video of his speech via his Instagram handle, with the caption; "First is that there is no question that blockchain technology generally and cryptocurrencies in particular will in the coming years challenge traditional banking, including reserve banking, in ways that we cannot yet imagine so we need to be prepared for that seismic shift. Clearly the future of money and finance, especially for traditional banking, must be as exciting as it is frightening. But as we have seen in many other sectors disruption...
Cryptocurrency: We Acted In Nigerians’ Best Interest – Emefiele
Business

Cryptocurrency: We Acted In Nigerians’ Best Interest – Emefiele

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has said the bank’s decision to prohibit deposit money banks, non-banking institutions and other financial institutions from facilitating trading and dealings in cryptocurrency is in the best interest of Nigerian depositors and the country’s financial system. Emefiele stated this yesterday while briefing a joint Senate Committee on Banking, Insurance and Other Financial Institutions; ICT and Cybercrime and Capital Market, on its directive to institutions under the apex bank’s regulation. Describing the operations of cryptocurrencies as dangerous and opaque, the CBN Governor said the use of cryptocurrency contravened an existing law. He said given the fact that cryptocurrencies were issued by unregulated and unlic...
SEC Seeks Regulation Of Digital Assets, Says $2 Trillion Crypto Can’t Be Ignored
Business

SEC Seeks Regulation Of Digital Assets, Says $2 Trillion Crypto Can’t Be Ignored

Timi Agama, head of registration, exchanges, market infrastructure and innovation department of SEC, was speaking at a virtual lecture organised by the Association of Capital Market Academics of Nigeria (ACMAN) in Abuja, on Sunday. The Central Bank of Nigeria (CBN) had asked commercial banks to block accounts of cryptocurrency traders in their systems. After the directive, Nigerians took to social media to condemn the decision. NAN quotes Agama as saying cryptocurrency is a $2 trillion market that cannot be ignored. He said the world cannot be moving forward while Nigeria remains static. Agama said although SEC or the capital market would not accommodate or encourage any fraudulent practices that allowed for money laundering, cryptocurrency is a market worth looking into...
Mastercard To Adopt Cryptocurrency As Payment Option
Business

Mastercard To Adopt Cryptocurrency As Payment Option

Mastercard says it will begin to accept cryptocurrencies on its network in 2021. In a blog post by Raj Dhamodharan, its executive vice president for digital assets, blockchain products and partnerships, the company said it is preparing for the future of crypto and payments. “Whatever your opinions on cryptocurrencies — from a dyed-in-wool fanatic to utter skeptic — the fact remains that these digital assets are becoming a more important part of the payments world,” the blog post read. “This is a big change that will require a lot of work. We will be very thoughtful about which assets we support based on our principles for digital currencies, which focus on consumer protection and compliance. “Our philosophy on cryptocurrencies is straightforward: It’s about choice. Masterca...
Crypto Ban: Northern Senators Support CBN, Southern Senators Oppose
Politics

Crypto Ban: Northern Senators Support CBN, Southern Senators Oppose

The recent ban on cryptocurrency transactions via Nigerian bank accounts has divided opinions among Nigerian senators. The Central Bank had directed deposit money banks and other financial institutions to deactivate all customers’ accounts used for transacting all forms of virtual currencies. The CBN hinged its decision on claims that fraudulent transactions were being carried out via cryptocurrency dealings, thereby weakening the Naira. It also alleged that the exchange could be used to funnel illicit funding for terrorism and other threats to national security. Debating the development on Thursday at plenary, Senator Tokunbo Abiru, a former bank chief executive from Lagos, says he does not see the ban as the solution to the highlighted threats but suggested a public hearing ...
Senate Summons CBN Governor, DG SEC Over Cryptocurrency Ban
Politics

Senate Summons CBN Governor, DG SEC Over Cryptocurrency Ban

The Senate has mandated its Committees on Banking, Insurance and Other Financial Institutions, ICT and Cybercrimes and Capital Market to invite the Governor of the Central Bank of Nigeria, Godwin Emefiele to brief it on the recent ban on cryptocurrency in the country. The Senate also invited the Director General of the Securities and Exchange Commission (SEC), Lamido Yuguda, to meet with its joint committee on the issue. It explained that the information that would emanate from the briefings from the two regulatory bodies would assist the Senate to “determine the opportunities and threats of the cryptocurrency on the nation’s economy and security.” This resolution of the upper chamber was sequel to its consideration of a motion titled: “CBN’s decision to stop Financial Institu...
Cryptocurrency Ban: Every Medium Of Exchange Is Subject To Fraud & Criminality — Moghalu Counters CBN
Politics

Cryptocurrency Ban: Every Medium Of Exchange Is Subject To Fraud & Criminality — Moghalu Counters CBN

Former deputy governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu has criticized the apex bank’s reason for stopping cryptocurrency transactions in the country. CBN had in a statement released on Sunday February 7, said it banned cryptocurrency transactions because they are largely speculative, anonymous, untraceable and are increasingly being used for money laundering, terrorism financing and other criminal activities. Reacting to this while appearing on an Arise TV program on Monday February 8, Moghalu stated that the excuse of "cryptocurrencies being used to perpetrate fraud" is not a serious argument. The former presidential candidate in the interview averred that every medium of exchange is subject to fraud and criminality. Moghalu said all the apex bank neede...
Tesla Buys $1.5 Billion Worth Of Bitcoin, Says May Accept It For Payment For Car
Business

Tesla Buys $1.5 Billion Worth Of Bitcoin, Says May Accept It For Payment For Car

Telsa (TSLA) revealed in a securities filing that the electric car company has purchased $1.5 billion worth of Bitcoin and expects to accept the cryptocurrency for its products in the future. “In January 2021, we updated our investment policy to provide us with more flexibility to further diversify and maximize returns on our cash that is not required to maintain adequate operating liquidity. As part of the policy, we may invest a portion of such cash in certain specified alternative reserve assets. Thereafter, we invested an aggregate $1.50 billion in bitcoin under this policy,” the company wrote in a 10-K filing with the SEC. According to the fling, Tesla said it expects to begin accepting Bitcoin as a form of payment for its products “in the near future,” where it’s permitted....
Cryptocurrency is a shortcut business, invest in real assets like cows – Former Presidential aspirant, Adamu Garba reacts to CBN’s directive
News

Cryptocurrency is a shortcut business, invest in real assets like cows – Former Presidential aspirant, Adamu Garba reacts to CBN’s directive

Former Presidential aspirant, Adamu Garba has waded into the cryptocurrency controversy which was triggered by the Central Bank of Nigeria's letter in which financial institutions were asked to close accounts "dealing in cryptocurrencies or facilitating payments for cryptocurrency".   Garba Adamu in his tweet alleged that many people have lost money through cryptocurrencies which he described as a "shortcut business". He also advised Nigerians to invest in real assets like cows.   The presidential aspirant added that "Cow Ranching business is more lucrative than all cryptocurrencies combined."   He tweeted;   Better Investments! Those who might have lost their monies through a shortcut business called Crypto should learn to invest on real assets, l...
CBN directs banks to close accounts of cryptocurrency traders
News

CBN directs banks to close accounts of cryptocurrency traders

The Central Bank of Nigeria (CBN) has directed banks to close accounts of persons or entities involved in cryptocurrency transactions within their systems.   The apex bank gave the directive in a circular issued today February 5. The circular was addressed toall deposit money banks (DMBs), non-bank financial institutions (NBFIs), and other financial institutions (OFIs).   In January 2017, the CBN had in a statement released, described bitcoin, litecoin, and others as digital currencies used largely used in terrorism financing and money laundering, considering the anonymity of virtual transactions and that such currencies are not accepted as legal tender in Nigeria.   Also in February 2018, the apex bank warned Nigerians against trading in such digital curre...
CBN Shuts Down Cryptocurrency Exchange Bank Accounts
Business

CBN Shuts Down Cryptocurrency Exchange Bank Accounts

LETTER TO ALL DEPOSIT MONEY BANKS, NON-BANK FINANCIAL INSTITUTIONS AND OTHER FINANCIAL INSTITUTIONS The Central of Bank of Nigeria's (CBN) circular of January 12, 2017 ref FPR/DIR/GEN/C1R,06/010 which cautioned Deposit Money Banks (DMBs), Non-Bank Financial Institutions (NBFIs), Other Financial Institutions (OFIs) and members of the pubic so the risk associated with transactions In crypto currency refers. Father to earlier regulatory directives on the subject, the Bank hereby wishes to remind regulated institutions that dealing in crypto curencies or facilitating payments for cryptocurrency exchanges is prohibited. Accordingly, all DMBs. NBFIs and OFIs are directed to identify persons and/or entities transacting in or operating crypto currency exchanges within tier systemsand ...
David Barral becomes first-ever footballer to be bought with Bitcoin
Sport

David Barral becomes first-ever footballer to be bought with Bitcoin

  Former Real Madrid B and Levante striker, David Barral has become the first-ever player to be purchased using cryptocurrency. The 37-year-old Spaniard officially signed for Spanish third division team DUX Internacional de Madrid on Tuesday, January 19, in a deal funded entirely through the use of bitcoin. The transfer fee is yet to been disclosed with the deal yet to be acknowledged by authorities. The club owned by footballers Borja Iglesias and Thibaut Courtois, said in a statement: 'David Barral new player of DUX Internacional de Madrid, welcome to the infinite club!' the club shared on its social media pages. 'He becomes the first signing in history in cryptocurrencies. Thanks to Criptan, our new sponsor, for making it possible.' The striker added: 'Glad to j...
Facebook Libra: Mastercard, Visa And Ebay Joins Paypal Exits Crypto Project
News

Facebook Libra: Mastercard, Visa And Ebay Joins Paypal Exits Crypto Project

Facebook’s effort to create a cryptocurrency was dealt a blow on Friday after several key partners, including MasterCard, Visa, eBay, paypal,Stripe and Mercado Pago, abandoned the project, the first company to abandon the project was paypal. The defections followed fierce criticism from global regulators and lawmakers, and have prompted some industry-watchers to question whether the Libra programme can survive. The news comes days before the Libra Association, the group that will oversee the digital currency, prepares to convene its members and ask them to sign a charter agreement. The meeting is slated to take place on Monday in Geneva. A Libra Association spokeswoman said on Friday that the gathering will proceed as planned, and that it would announce the first list of official pa...
Paypal Withdraws Support For Facebook’s Libra Cryptocurrency
News

Paypal Withdraws Support For Facebook’s Libra Cryptocurrency

Paypal has become the first company to pull out officially from Facebook’s Libra, a cryptocurrency and related association that it announced earlier this year with a chain of nearly 30 big names behind the effort to help build and operate services around it. “PayPal has made the decision to forgo further participation in the Libra Association at this time and to continue to focus on advancing our existing mission and business priorities as we strive to democratize access to financial services for underserved populations,” PayPal said in an emailed statement to TechCrunch. “We remain supportive of Libra’s aspirations and look forward to continued dialogue on ways to work together in the future. Facebook has been a longstanding and valued strategic partner to PayPal, and we will conti...
Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency
News

Nigerian Deposit Insurance Corporation Warns Against Cryptocurrency

The Nigeria Deposit Insurance Corporation (NDIC) has issued a public warning about relying on cryptocurrency transactions. This was done via a press release on the 25th day of July, 2019. According to the press release, managing director and CEO of NDIC, Umaru Ibrahim. said relying on cryptocurrencies is very risky, because they are unregulated and not backed by central banks in most financial jurisdictions. The NDIC provides a safety net for depositors and aims to protect the banking system from instability caused by bank runs or loss of confidence. According to Ripples Nigeria, Umaru Ibrahim had previously talked about his concerns during a courtesy call with the NDIC board and the Speaker of the House of Representatives. Speaker Femi Gbajabiamila, spoke on eagerness to r...
Facebook just unveiled Libra, its cryptocurrency rival to bitcoin
News

Facebook just unveiled Libra, its cryptocurrency rival to bitcoin

Libra, which will be managed by a governing body and be backed by stable financial assets, is expected to debut in the first half of 2020. The Libra Association is also working with regulators around the world to ensure the cryptocurrency conforms to anti-money laundering rules.
DJ Khaled and Floyd Mayweather Charged By US SEC for Illegally Promoting Bitcoin
Celebs

DJ Khaled and Floyd Mayweather Charged By US SEC for Illegally Promoting Bitcoin

Boxer Floyd Mayweather Jr and music producer DJ Khaled will pay thousands of dollars to settle charges that they violated US financial laws. The US Securities and Exchange Commission announced the settlement on Thursday as the US financial regulator said the men failed to disclose payments they received to promote certain  investments. The men neither admitted nor denied the claims, but agreed to pay combined penalties totalling more than $750,000. The two cases are the first the SEC has brought over touting violations involving initial coin offerings or ICOs, a relatively new investment vehicle associated with crypto-currencies. An ICO allows people to invest in a company by buying "tokens" or "coins" that it issues. Despite the new language, the SEC has warned investors that it ...
Cryptocurrency: How Price Drop Affects Exchanges
News

Cryptocurrency: How Price Drop Affects Exchanges

It may be easy to convince anyone that a cryptocurrency exchange made loads of profits in 2017, given the remarkable upward price jumps the market witnessed. But with the market capitalisation down and prices of cryptocurrencies dropping drastically in 2018 from what it used to be, it becomes difficult to see how exchanges are not counting huge losses. A report by Bloomberg estimated that the top ten cryptocurrency firms were generating as much as $3 million in fees a day or heading for more than $1 billion per year as at 2017 which was significant considering that the market did not even exist until 2009. According to the report, based on daily trading volume and fees listed, annual revenue for the top exchanges goes into the billions of dollars. CRYPTOCURRENCY Coinbase, one ...
Bitcoin Falls Below $5,000 For First Time Since Oct 2017
Uncategorized

Bitcoin Falls Below $5,000 For First Time Since Oct 2017

The value of bitcoin slipped Monday below $5,000 (4,367 euros) for the first time since October 2017 as volatility returned to the cryptocurrency market. Bitcoin Data compiled by Bloomberg showed the world’s most popular virtual currency losing about 10 percent of its value from Friday evening to stand at $4,958.36 at 1635 GMT. It rebounded slightly to trade at $5,065 at 1710 GMT. The rout on the crypto market began on Wednesday and also affected widely traded currencies such as Ethereum and Ripple. Bitcoin opened trading on Wednesday at $6,326 and has since seen its market capitalisation fall to less than $100 million for the first time in over a year. The still-nascent market is not completely transparent and analysts have struggled to understand what prompted the latest sel...
19-year-old Girl Buys Two Cars For Her Parents
Lifestyle

19-year-old Girl Buys Two Cars For Her Parents

A 19-year-old Nigerian girl based in Warri, has broken the internet after buying two cars in one day, for her parents. Priscilla Emasoga who says she deals in Cryptocurrency, bought a Lexus Car and Rav 4 respectively to celebrate her 19th birthday. She made the announcement on her official facebook handle. She wrote “19 years ago they brought me into this world. They worked day and night to put food on the table and made sure I never lacked the necessary things in life. Today am returning that Favour. Two new rides for my favorite people in this world. Thank you for taking care of me Mom and Dad ��Thank God for Grace �”.

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