Author: Teererai Mukonavanhu

Article written by Teererai Mukonavanhu

Nigeria sues Binance for $81.5 billion

February 20, 2025 1 min read

Nigeria has filed an $81.5 billion lawsuit against Binance. The lawsuit accuses the crypto exchange of tax evasion, money laundering, and violating foreign exchange laws. It includes $2 billion in back taxes and additional penalties. Binance has not yet responded to these allegations. However, reports suggest that the company plans to contest the lawsuit. This legal battle is not new for Nigeria and Binance. In 2024, Nigeria accused Binance of

Coinbase launches Proof of Reserves for cbBTC

February 20, 2025 1 min read

Coinbase has launched Proof of Reserves (PoR) for its cbBTC token. This initiative aims to reassure users that each cbBTC is backed 1:1 by Bitcoin. The move addresses concerns about transparency and centralized control in the crypto sector. According to the PoR data, Coinbase holds 26,525.15 BTC to back a supply of 26,461.05 cbBTC tokens. These tokens are distributed across various networks. Ethereum has the largest share with 16,080 cbBTC.

HyveDA raises $50 million

February 16, 2025 2 mins read

Hyve, a middleware data availability protocol, has achieved a significant milestone by securing $50 million in pre-deposits from early contributors in just two weeks. This event coincided with the launch of the Symbiotic mainnet on January 28th, which initiated the pre-deposit phase for HyveDA’s data availability solution. Within four hours, the total value locked reached $25 million, and it eventually hit the maximum deposit cap, despite a downturn in the

CZ’s pet Broccoli sparks meme coin frenzy

February 15, 2025 1 min read

Changpeng Zhao, known as CZ and the former CEO of Binance, recently shared the story of his dog, Broccoli. This Belgian Malinois was named after CZ’s love for dogs and cryptocurrency. The post about Broccoli sparked a frenzy in the meme coin market. What started as a simple photo on X quickly led to the creation of dog-themed meme coins. Although CZ stated he was not launching a coin, the

Holonym foundation Acquires Gitcoin Passport

February 11, 2025 1 min read

The Holonym Foundation has acquired Gitcoin Passport to create a leading Proof of Humanity solution. This move will allow Human.tech to distribute 34.5 million zero-knowledge (ZK) credentials to Gitcoin Passport’s 2 million users. This is expected to produce over three times the identity proofs of Worldcoin. With this acquisition, Holonym Foundation aims to become a leader in Sybil detection and privacy-focused on-chain reputation. They plan to merge their Human Key

Blackrock (BLK) plans on listing a bitcoin exchange traded product (ETP) in Europe

February 6, 2025 1 min read

BlackRock, the largest asset management firm in the world with over $10 trillion in assets under management, is planning to launch a bitcoin exchange-traded product (ETP) in Europe. This news was reported by Bloomberg. The new fund will be based in Switzerland, and BlackRock may start marketing it as early as this month. This will be BlackRock’s first crypto-linked ETP outside the United States. Their U.S.-based iShares Bitcoin ETF has

President Trump’s new order launches a U.S. sovereign wealth fund

February 6, 2025 1 min read

President Donald Trump has signed an executive order to create a sovereign wealth fund, exciting Bitcoin supporters. This order instructs the Treasury and Commerce Departments to devise a plan within 90 days. The fund aims to enhance financial security, lower taxes, and boost the US economy. Sovereign wealth funds are government-managed investment funds that handle surplus money, often from trade or resource revenues. They invest in various assets like stocks,

Ethereum whale secures $16.8M profit with a 50x short position

February 2, 2025 1 min read

An Ethereum whale made a significant profit of $16.8 million by shorting ETH just before a price drop. The whale used a 50x short position to take advantage of Ethereum’s 5% decline during a wider crypto market sell-off. At one point, ETH fell to $3,050, leading to over $81 million in liquidations for long positions. Currently, Ethereum is priced at $3,065.40, showing a 5.76% decrease in the last 24 hours.

Pro-crypto Super PAC Fairshake raises $116 million for the 2026 midterms

February 1, 2025 2 mins read

Fairshake, a pro-crypto Super PAC, has raised $116 million for the 2026 midterm elections. Major donors like a16z, Coinbase, and Ripple have significantly increased their contributions. This funding aims to influence the political landscape in favor of cryptocurrency. The specific Senate races Fairshake will target remain uncertain. However, the political climate has changed. After Kamala Harris lost despite supporting crypto, anti-crypto sentiment in Congress has decreased, although some opponents still

Pump.fun gets a class action lawsuit for violating U.S. securities laws

February 1, 2025 1 min read

Pump.Fun, a memecoin launchpad and trading platform, is facing a class action lawsuit for violating U.S. securities laws. The lawsuit claims that Pump.Fun offered risky unregistered securities to users and made around $500 million from fees. Diego Aguilar filed the lawsuit in a New York court, alleging that the platform’s activities do not comply with U.S. securities regulations. The lawsuit also names several officers from Baton Corporation, a UK-based company

The SEC removes references to its Ripple lawsuit from its website

January 30, 2025 2 mins read

The SEC’s recent actions have caused a stir in the crypto community. They have removed references to their lawsuit against Ripple from their website. This has led to speculation that the case might be dropped. However, legal experts confirm that the lawsuit is still active on PACER, the official court database. The legal dispute between Ripple and the SEC has been ongoing for four years. There have been rumors of

MicroStrategy plans to repay $1.05 billion in debt early

January 25, 2025 1 min read

MicroStrategy, a company recognized for its investments in Bitcoin and business analytics software, has announced a plan to repay $1.05 billion in debt early. This debt was acquired through “convertible notes,” which are loans that investors can convert into company shares under specific conditions. The company intends to fully repay these loans by February 24, 2025, a process known as “redemption.” Investors have two options: they can either receive their