Author: Mayowa Adenle

Article written by Mayowa Adenle

Russian parliament legalizes crypto for international trade and mining

July 25, 2024 1 min read

The Russian parliament has passed a law allowing the use of crypto for international trade and legalizing crypto mining to counteract the effects of Western sanctions and regulatory constraints on Russian banks. The move aims to improve cross-border transactions and bypass trade restrictions, mirroring Venezuela’s use of crypto to evade sanctions. The law introduces a regulatory framework for Digital Financial Assets (DFAs) and Central Bank Digital Currencies (CBDCs), giving the

Cryptocurrency exchange OKX to stop offering services in Niger

July 22, 2024 2 mins read

OKX, a cryptocurrency exchange, has announced its withdrawal from Nigeria. Starting from July 17, 2024, all services provided to Nigerian customers will be terminated. This decision is a result of recent modifications in local legislation and regulations. The decision comes after Naira withdrawals were halted in May 2024, also due to regulatory concerns. Subsequently, the Nigerian government levied allegations against Binance, asserting that the crypto exchange had engaged in the

German government’s massive Bitcoin sell-off of 16,000 BTC causes over 13% drop in prices

July 9, 2024 1 min read

The German government liquidated more than 16,000 BTC in a day, prompting substantial deliberations regarding its impact on the Bitcoin market. On July 8th, the government sent 2,738.7 BTC valued at $155.3 million to several exchanges, such as Kraken and Cumberland. Shortly thereafter, they transferred an extra 1,533 BTC worth around $87.6 million, which served as their initial engagement with Cumberland and ‘bc1qu’ addresses. Subsequently, a total of 8,100 BTC

SSV Network Reaches 1M $ETH Staked Milestone

July 9, 2024 1 min read

SSV Network, an Ethereum-focused distributed validator network, announced it has reached 1 million $ETH staked on its platform. The protocol, which went live in December 2023, allows partners and solo stakers to securely distribute ETH validators and earn rewards for becoming node operators. The DAO-owned and open-sourced protocol provides infrastructure for developers to build distributed validator technology (DVT) powered staking applications, increasing resilience, uptime, and decentralization. Restaking, the latest trend

The SEC sues Consensys, alleging unregistered securities sales and broker activity

July 1, 2024 1 min read

The US Securities and Exchange Commission (SEC) has filed a lawsuit against Consensys Software, alleging that the company failed to register as a broker and sold unregistered securities. The lawsuit primarily targets MetaMask, Consensys’ popular software interface. Consensys, which is not surprised by the SEC’s action, claims that the SEC is pursuing an anti-crypto agenda through inconsistent enforcement actions and attempting to expand its jurisdiction unjustly. The SEC’s suit focuses

Demand for Tokenized US Treasuries Soars as BlackRock, Franklin Templeton Invest

June 25, 2024 1 min read

The market for tokenized US treasuries has experienced a growth of more than 1,000% as a result of elevated interest rates and a significant increase in demand for secure, high-yielding assets that are recorded on a blockchain. By June, the market has achieved a valuation of $1.64 billion, with BlackRock‘s BUIDL fund surpassing Franklin Templeton’s BENJI. The increase in numbers demonstrates the increasing acceptance and utilization of real-world asset (RWA)

BNB Chain Introduces BEP 336; Reducing Fees By Up to 90%

June 20, 2024 1 min read

BNB Chain, the world’s largest smart contract blockchain, announced it has successfully activated the BEP 336 Haber Hardfork, introducing blob-carrying transactions. According to the team, this upgrade reduces gas fees by up to 90% and optimizes BNB Chain’s data storage and processing capabilities. Users can now enjoy reduced data availability costs for Layer 2 (L2) solutions on BNB Chain, making transactions more affordable and accessible. The implementation of BEP 336

This AI company secures $640 million in funding, tripling its valuation to $6 billion

June 12, 2024 1 min read

In a Series B round, Mistral AI, a firm that was established in April 2023 by individuals who had previously worked with Meta and Google’s DeepMind, has successfully raised a total of $502 million in stock and $141 million in debt. A number of significant investors, including General Catalyst and Lightspeed Venture Partners, participated in the round. A number of models have been made available under an open-source license by

Binance has started its Binance World Championship $4.2 million

June 5, 2024 1 min read

Binance has started its first Binance World Championship, providing users with the opportunity to delve into the realm of cryptocurrency, engage in promotional activities, and acquire incentives. The event, scheduled to continue until June 25, showcases the most substantial rewards pool ever offered by Binance, amounting to a staggering $4.2 million. The championship is accessible to both novice and current users, providing prospects to engage in campaigns, showcase trading tactics,

New York Attorney General Letitia James warns crypto companies to follow regulations

May 28, 2024 2 mins read

As the US government softens its position on crypto, New York Attorney General Letitia James warns crypto firms. James pledged severe industry regulation after Genesis’ $2 billion settlement. The New York State Attorney General settled with Genesis Global Capital, an insolvent platform, for $2 billion last week. The NYAG’s Office’s October 2023 lawsuit resulted to New York’s biggest crypto business settlement. Following this, NY Attorney General Letitia James stressed her

Coinbase battles the US SEC in a landmark legal case

May 26, 2024 1 min read

Coinbase’s legal battle with the SEC has taken another turn. Coinbase replied to the SEC’s petition against their interlocutory appeal, a crucial milestone in this high-stakes regulatory issue. Coinbase asked the US court on April 12 whether an investment contract may exist without post-sale responsibilities. The exchange deems this a “controlling question of law” in their SEC dispute. The SEC argued that the Howey Test in securities regulation has long

Ether Surges After Shanghai: Bitcoin’s Dominance Falls From 21-Month Peak

April 14, 2023 1 min read

Ether (ETH) has been making waves in the cryptocurrency market recently. After the successful deployment of the long-awaited Shanghai upgrade, ETH’s price rallied above $2,000 late on Wednesday. This surge in price has caused a drop in Bitcoin’s (BTC) dominance rate, which had risen to an almost two-year record high. According to data from TradingView, BTC’s dominance rate rose to as high as 49.06% early on Wednesday, before retreating to