Author: Mahamat Ashraf

Article written by Mahamat Ashraf

Nigeria’s CBN to launch cNGN stablecoin on February 27

January 8, 2024 1 min read

The Central Bank of Nigeria (CBN) is preparing to launch its naira stablecoin, cNGN, on February 27, 2024, in a significant step toward embracing blockchain technology. This ground-breaking initiative is part of a pilot program within the CBN’s regulatory sandbox, and it represents a significant step forward in improving global transactions. The Africa Stablecoin Consortium, comprised of Nigerian banks and fintech firms, was instrumental in obtaining approval for the cNGN

Any US resident making crypto transactions exceeding $10,000 will soon have to report them to IRS

January 5, 2024 1 min read

A recent development in the crypto landscape is causing a stir among users and advocates alike. The Infrastructure Investment and Jobs Act, passed by the US Congress, introduces a reporting provision requiring individuals involved in crypto transactions exceeding $10,000 to report them to the Internal Revenue Service (IRS) within 15 days. While this move aims to enhance transparency, it brings about a series of challenges and uncertainties. The Infrastructure Investment

Bitcoin (BTC) Surges Past $45.5K as Investors Await Major U.S. Reports

January 2, 2024 1 min read

As the new year begins, crypto enthusiasts and mainstream investors are closely monitoring key economic reports from the United States. The emphasis is on traditional financial indicators and the burgeoning crypto market, where Bitcoin’s recent surge has sparked considerable interest. Investors are especially interested in upcoming reports that provide insight into the state of the US economy. The Institute for Supply Management’s December ISM Manufacturing PMI report is scheduled for

Thunder Terminal was the victim of a hacking attempt, resulting in the loss of 86 ETH and 439 SOL

December 28, 2023 1 min read

Thunder Terminal, an on-chain trading platform, was recently the victim of a hacking attempt, resulting in the loss of 86 ETH and 439 SOL. Despite the breach, Thunder Terminal responded quickly, assuring users that all funds are secure and taking immediate steps to mitigate the impact. The hackers took advantage of a vulnerability by gaining access via a MongoDB URL, allowing them to execute fraudulent withdrawal requests and steal large

Kyber Network Navigates Security Breach Fallout with CEO Victor Tran Leading the Charge

December 27, 2023 2 mins read

Kyber Network, a decentralized finance (DeFi) platform, suffered a major setback in November as a result of a significant security breach, but CEO and co-founder Victor Tran is leading efforts to address the fallout and reshape the platform’s future. According to the latest statement, despite the challenges posed by the “Elastic exploit,” KyberSwap‘s core business, including the aggregator and limit order functions, remains fully operational. Kyber Network is responding to

Coinbase CEO Urges Public to Shape Fair Crypto Laws Amid Senators’ Anti-Crypto Bill

December 20, 2023 1 min read

Coinbase CEO Brian Armstrong has spoken out against the anti-crypto stance taken by some US Senators. Armstrong’s criticism comes as Senators Marshall and Warren seek support for a new anti-crypto bill, a move that the Coinbase CEO considers unwise, particularly in the run-up to the 2024 elections. The Chamber of Digital Commerce revealed the senators’ efforts to gain support from the American Bankers Association for their anti-crypto legislation. In response,

FTX exchange is nearing the end of its bankruptcy proceedings

December 18, 2023 1 min read

The embattled crypto exchange, FTX Trading Ltd., is nearing the end of its bankruptcy proceedings and has proposed a plan to repay billions to customers and creditors. This is the conclusion of a complicated case stemming from a major fraud scandal involving FTX’s former CEO. To settle outstanding debts, the proposed plan calls for a comprehensive restructuring of the company’s assets and finances. Stakeholders are eager to learn about the

Ledger Addresses Security Breach, Urges Users to Update Software

December 15, 2023 1 min read

In response to a significant security breach, Ledger, a prominent crypto wallet provider, has issued a critical software update, urging users to upgrade to version 1.1.8 as soon as possible for increased security. The company has advised users to wait a day before using the wallet after upgrading to the latest version. When a former Ledger employee fell victim to a phishing attack, they unwittingly granted unauthorized access to their

Former SEC Chairman Warns of Binance’s Growing Legal Problems in the Face of DOJ and SEC Probe

December 11, 2023 1 min read

Former SEC Internet Enforcement Chief John Reed Stark recently shared his thoughts on Binance, the global cryptocurrency exchange, and its mounting legal problems. His remarks shed light on the intense scrutiny directed at Binance and its former CEO, Changpeng Zhao (CZ) by both the US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC). Stark emphasized Binance’s extraordinary level of scrutiny, citing DOJ documents that reveal the extent

El Salvador Launches Citizenship-by-Investment Program, Accepting Bitcoin and USDT

December 8, 2023 1 min read

El Salvador has launched a novel citizenship-by-investment scheme, offering residence permits and a path to citizenship to the first 1,000 people who invest $1 million in Bitcoin or USDT in the country. The program, dubbed the “Adopting El Salvador Freedom Visa Program,” was announced on December 7 by the Salvadoran government and Tether, a stablecoin issuer. While the opportunity is appealing, the cost of citizenship begins at $100,000, putting El

BONK meme coin surges by over 50%, outperforming Dogecoin and Shiba Inu”

December 7, 2023 1 min read

The memecoin BONK has experienced an astronomical surge of 50%, surpassing the performances of popular rivals Dogecoin and Shiba Inu. The sudden rise of BONK underscores the unpredictable and dynamic nature of the cryptocurrency market, where meme coins continue to capture the attention of investors seeking quick and substantial gains. BONK, a memecoin that likely gained attention for its humorous branding, has witnessed an unprecedented surge in its value, leaving

Bitcoin Rockets to $44,000, Wiping Out $160M in Short Trader Losses

December 6, 2023 1 min read

Bitcoin’s recent surge to $44,000 has not only marked a significant milestone in its price trajectory but has also dealt a substantial blow to short traders, resulting in losses amounting to around $160 million. The surge, fueled by strong demand and positive sentiment regarding potential U.S. ETF approval and rate cuts, underscores the dynamic nature of the cryptocurrency market. Short traders, who bet against Bitcoin’s upward movement, found themselves on