Author: Karikari Daniel

Article written by Karikari Daniel

Binance crypto exchange resumes USDC stablecoin withdrawals on its platform

December 14, 2022 0 mins read

Binance, the world’s largest cryptocurrency exchange, has resumed USDC stablecoin withdrawals on its platform. This follows a “temporary pause” on Tuesday while the exchange carried out a “token swap” that required New York banks to be open in order to allow BUSD to fiat and USDC conversion. On Tuesday, Binance saw at least $5.2 billion worth of stablecoin outflows, its highest ever recorded by on-chain data analytics firm CryptoQuant. Binance’s

ConsenSys intends to keep MetaMask user data for no more than seven days

December 6, 2022 1 min read

ConsenSys, a blockchain software company, clarified that it will only store and retain user IP addresses and wallet data for up to seven days. ConsenSys has announced that it will only store user IP addresses and wallet information for a maximum of seven days, in an effort to address users’ concerns about the handling of their personal information. The company faced criticism in the past for collecting this data. ConsenSys

Bloomberg reports that Alameda invested $1.15 billion in Genesis Digital

December 3, 2022 1 min read

Alameda Research, a trading firm affiliated with the troubled exchange FTX, has invested $1.15 billion in cryptocurrency miner Genesis Digital Assets. According to documents obtained by Bloomberg that identified FTX and Alameda’s venture portfolio, this was Alameda’s and FTX’s largest venture investment, valued at $5.5 billion in an April funding round. Alameda invested in the cryptocurrency miner four times. It invested around $100 million in the miner last August. It

Trader Joe decentralized exchange is deploying Avalanche DEX on Arbitrum

December 2, 2022 1 min read

Trader Joe, a decentralized exchange, is going live on the Ethereum scaling network Arbitrum. Since the company’s founding in 2021, this is Trader Joe’s first deployment on a new chain. According to DeFiLlama, Trader Joe has the highest overall trading volume across all applications on Avalanche, but this volume has significantly decreased since June. In the coming days, Trader Joe will launch on Arbitrum’s testnet, with a mainnet launch anticipated

The Indonesian central bank releases a whitepaper on digital rupiah

December 1, 2022 1 min read

As the country seeks to “advance digital transformation,” Indonesia’s central bank has released a whitepaper outlining plans for its central bank digital currency (CBDC). The central bank, Bank Indonesia, stated in a whitepaper released on Wednesday that Project Garuda, the national initiative to develop a digital rupiah, will be carried out in three stages, with wholesale digital rupiah being examined first. The agency will then test the digital rupiah for

SBF says FTX had a 50% chance if Binance’s CEO, Changpeng Zhao, had not expressed concerns

November 30, 2022 2 mins read

In recent interviews, Sam Bankman-Fried, the founder of the infamous crypto exchange FTX, has spilled quite a bit of tea. The man once known as the crypto mogul has revealed that he has lost almost all of his wealth. SBF told Axios that the last time he checked his bank account, it held $100,000. This represents a more than 99% drop in his net worth, which was once estimated to

Bitfinex has the most Tether (USDT) at 60%, and exchange balances have surpassed the ATH

November 30, 2022 1 min read

Despite losing 1% of its USD peg recently, Tether has 60% of its total supply spread across multiple exchanges, with Bitfinex holding the largest share. Digital assets are being offloaded from exchanges and finding their way into cold wallets as the cryptocurrency market becomes more bearish. However, Bitfinex’s stablecoin inflows are quite different. According to on-chain data provider Glassnode, Tether (USDT) holdings on the exchange surpassed $11 billion on November

Phantom Wallet adds Ethereum and Polygon support

November 30, 2022 1 min read

Phantom, the largest wallet on Solana, has announced plans to expand to Ethereum and Polygon. It aspires to be Solana’s MetaMask. With the latest deployment from Phantom, Solana’s largest wallet, popular non-custodial wallets such as MetaMask may have a competitor breathing down their neck. Phantom is a wallet and browser extension that manages cryptocurrencies and provides access to decentralized services via the Solana blockchain. A Series B funding round was

South Korean exchange prohibits employees’ families from trading crypto

November 29, 2022 1 min read

Dunamu, the South Korean company that operates the Upbit exchange, has extended trading bans to relatives of its executives and employees. According to local media, the move is part of an effort to improve ethical management in the cryptocurrency market. A spokesperson for Dunamu told the Korea Times: “We came to strengthen the regulation since Aug. to be commensurate with our status as the most trusted digital asset exchange that meets

Civil unrest in China may cause Bitcoin to fall below $16,000

November 29, 2022 1 min read

Bulls in Bitcoin (BTC) have managed to keep the asset’s price above $16,000, extending its consolidation around that level. Notably, Bitcoin’s prospects for a rally have been hampered by coronavirus restrictions protests in China, causing new market turmoil. Indeed, Kitco News analyst Jim Wyckoff noted on November 28 that Bitcoin bears still have a near-term technical advantage, with the asset potentially falling below $16,000. He said, “While the BC bulls

Nigeria seeks to distinguish between digital assets and cryptocurrency.

November 28, 2022 2 mins read

According to a Bloomberg report, Nigeria is attempting to advance digital asset trading in the country. But like some Asian countries, it is distinguishing between digital assets, which can be broadly defined and may include central bank digital currencies (CBDCs), non-fungible tokens (NFTs), privately issued stablecoins, and cryptocurrencies. The Nigerian Securities and Exchange Commission (SEC) Director-General, Lamido Yuguda, has joined other regulators, including those in South Korea, in attempting to

“Binance is not a Chinese company, we are not related to China at all,” says CEO CZ

November 25, 2022 1 min read

Chengpang Zhao (CZ), the CEO of Binance, the largest crypto exchange in the world, stole the show on November 24, 2022. Basically, since CZ made a bid to acquire Voyager, the bankrupt U.S.-based company that specializes in lending and financing for cryptocurrencies, he has been inundated with inquiries. Following up, FTX and Binance each made a bid to buy Voyager’s assets. In these terms, the FTX platform outperformed Binance U.S.