The Central Bank of Nigeria should be discontinuing the fixed exchange rate system and let the naira freely float against the major currencies, Alhaji Aminu Gwadabe, the leader of a Nigerian association of bureau de change operators has said. The leader also slammed the recent adjustment of the central bank’s interest rate to 13%, which
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Share to Facebook Share to Twitter Share to Linkedin China Evergrande Group’s creditors are now facing even dimmer prospects of ever getting their money back, as the country’s real estate crisis spreads and claims on the developer’s assets continue to pile up. The deeply indebted company failed to meet its own deadline to unveil a
Ether (ETH) has taken over Bitcoin (BTC) in the options market for the first time in history as the open interest (OI) of Deribit Ether options, with a value of $5.6 billion, exceeded the OI of Bitcoin options worth $4.6 billion by 32%. OI is calculated by adding all the contracts from opened trades and
Cryptocurrency-friendly bank Sygnum Bank continues expanding its crypto services by launching support for Cardano (ADA) staking. Sygnum announced on Tuesday that the firm has expanded its bank-grade staking offering with Cardano, allowing clients to generate rewards by staking ADA via the bank’s institutional-grade platform. ADA joins Sygnum’s growing crypto-staking portfolio, which features three proof-of-stake (PoS) protocols;
According to Chandler Guo, an influential Chinese bitcoin miner, a proof-of-work (PoW) version of Ethereum is “coming soon.” The news comes as The Merge is expected to be implemented on Ethereum during the week of September 19, and the growing discussions of delaying the highly anticipated proof-of-stake (PoS) transition. Chinese Miner Chandler Guo Says ‘Ethereum
A recent study conducted by the European Central Bank (ECB) on identifying the ultimate cross-border payment medium crowned central bank digital currencies (CBDCs) as the winner against competitors, including banking, Bitcoin (BTC) and stablecoins, among others. ECB’s interest in identifying the best cross-border payment solution stems from the fact that it serves as the central bank
The French cryptocurrency hardware wallet manufacturer Ledger is seeking to raise fresh new capital after raising $380 million in June 2021, according to sources familiar with the matter. The hardware wallet company Ledger is reportedly looking to raise at least $100 million from strategic investors. Crypto Hardware Wallet Manufacturer Ledger Is Reportedly Looking to Raise
After a surge in Ether (ETH) prices last week, the cryptocurrency may now be treading in a consolidation phase, says asset management firm IDEG’s chief investment officer. In a report shared with Cointelegraph on Monday, the author of the report, Markus Thielen, said he while he has been bullish on ETH prices six weeks ago,
With several on-chain metrics for Bitcoin (BTC) still in a bearish range, a continuation of the recent price recovery will require increased demand and fees spent over the network, says Glassnode. The assessment of mediocre market growth over the past week came from blockchain analysis firm Glassnode in its latest The Week On Chain report
Imran Khan, a former prime minister of Pakistan and current chairman of one of the largest political parties in the country, has confirmed that his Instagram account was compromised and hackers used it to promote a cryptocurrency giveaway scam. Imran Khan’s Instagram Account Hacked, Used to Promote Crypto Scam Imran Khan, a former Pakistani prime
The writer is a partner at the Dutch law firm Resor As the world of decentralised finance continues to grow, there is much demand for a digital currency fit for use in blockchain-based applications with near-real-time, peer-to-peer global settlement that can be used as a medium of exchange. However, most cryptocurrencies are too volatile for
The loss of confidence in China’s property sector could feed into a contagion that would further drag down the Chinese economy, analysts warned. The comments come after beleaguered developer China Evergrande Group failed to deliver a promised $300 billion restructuring plan over the weekend. In filings with the Hong Kong stock exchange, Evergrande instead said
The Securities and Exchange Commission (SEC) has charged 11 individuals for their alleged role in the creation of a “fraudulent crypto pyramid scheme” platform Forsage. The charges were laid in a United States District Court in Illinois on August 1, with the SEC alleging that the founders and promoters of the platform used the “fraudulent
Bitcoin Valley, the first bitcoin city in Honduras, has launched in Santa Lucia. Businesses in the area will accept bitcoin for payments. “In Santa Lucia, we are all going to participate in this project … Accepting bitcoin will open us to another market and win more customers,” said a local business owner. Bitcoin Valley: First
The U.S. Securities and Exchange Commission (SEC) has charged four founders and seven promoters of Forsage, which it described as “a fraudulent crypto pyramid and Ponzi scheme.” The scheme allegedly raised more than $300 million from millions of retail investors worldwide, including in the U.S. SEC Takes Action Against Forsage Crypto Scheme The U.S. Securities
The cryptocurrency payroll service Bitwage announced on Monday that the company has partnered with the digital currency wallets Casa and Edge Wallet in order to “bring bitcoin payroll to mainstream audiences.” Now Edge Wallet and Casa users can connect to the Bitwage platform’s services via a deep link or QR code. Crypto Payroll Company Bitwage
Source: NYSE Check out the companies making headlines after the bell: Pinterest — Shares of the image-sharing company popped more than 19% despite a miss on the top and bottom lines as activist investor Elliott Management revealed it is now the largest investor. The company also beat monthly active user estimates. Simon Property Group —
The luxury jewelry and specialty retailer Tiffany & Co. announced the firm is planning to sell 250 non-fungible token passes called “Nftiff.” Essentially, Cryptopunk holders will be able to acquire one of the 250 Nftiffs for 30 ether or roughly $50K using today’s ethereum exchange rates. Tiffany & Co. Reveals Limited Edition Jeweled Cryptopunk Pendants
Municipals were mostly firmer to kick off August, while U.S. Treasuries rallied out long and equities were in the red near the close. Muni-UST ratios on Monday were at 67% in five years, 84% in 10 years and 98% in 30 years, according to Refinitiv MMD’s 3 p.m. read. ICE Data Services had the five
A handful of House Democrats who advocated for an increase in the state and local tax deduction cap appear ready to support the latest budget reconciliation bill that omits such provisions, dealing a blow to issuers who were proponents of SALT reform. The representatives may be the deciding votes for the package to pass through