Teererai Mukonavanhu
I'm a crypto, blockchain, and tech writer. I spend my time researching and writing about cryptocurrency, NFT, AI, and new technology.
Articles by Teererai Mukonavanhu
2 years ago
2 mins read
LocalCryptos, a peer-to-peer (P2P) cryptocurrency exchange, has announced plans to depart the market after five years of operation, becoming the latest casualty of the extended bear market. LocalCryptos stated in a blog post published on October 21 that the planned cessation of operations was voluntary, citing many factors, including the broader crypto market implosion and regulatory uncertainties. The team said in the blog, We want to make closing down as clean and orderly as possible to allow our users a smooth transition to alternative P2P platforms. LocalCryptos will be winding down in phases, with the key dates included below. Furthermore,
2 years ago
1 min read
OlympusDAO, a decentralized reserve currency protocol created in May 2021, was the victim of a cyber attack that resulted in the theft of 30,000 OHM tokens worth around $300,000. PeckShield, a blockchain security analytics startup, released some details on the hack, stating that the attacker exploited an issue in the protocol’s smart contract bonds. The OlympusDAO BondFixedExpiryTeller contract, according to the firm’s analysis, “had a redeem method that does not correctly validate the input.” The veracity of the cyber attack was validated by Etherscan, an Ethereum blockchain explorer, forcing protocol developers to handle the matter and notify their community through
2 years ago
2 mins read
Fidelity Digital assets go against the grain and embark on a massive recruiting initiative despite the current bearish trend. This hiring strategy is in stark contrast to industry trends, which have seen numerous major crypto companies laying off staff. The downsizing trend had roped in industry heavyweights such as GSR,WazirX,Checkout.com and Robinhood. Fidelity is targeting around 100 new employees from this recruitment drive within the next 6 months. This would bring their total manpower figures to around 500. “We have gone through a fairly aggressive hiring spree over the last 12 months and we have probably, in excess, doubled the
2 years ago
2 mins read
The allure of cryptocurrency has pulled in investors from all over the world, with new investors widely expected to join the global phenomenon every year in hopes of making a killing. As expected, different regions are at different levels and capabilities of adoption. The Middle East and North Africa (MENA) region has been exceptional compared to all other regions. It has recorded the highest crypto transaction volume growth year on year (YoY) in a side-by-side comparison to all other regions. Statistics show that the MENA region has attained a surge in crypto transaction volume of 48% in a 12-month period
2 years ago
1 min read
The USDD algorithmic stablecoin is now listed alongside Huobi Cryptocurrency (HT), Huobi’s native token. USDD/HT, USDD/BTC, and USDD/ETH are currently available on the exchange. This is the latest phase in the exchange’s foreign expansion plan. This development comes as no surprise following the revelation of a shift in the exchange’s controlling ownership and the appointment of Tron/USDD founder Justin Sun to its Global Advisory Board. Following Sun’s entrance, Huobi launched a host of activities aimed at solidifying its position as a major crypto exchange while providing added value to HT holders. The introduction of zero transaction fees for all 11
2 years ago
2 mins read
Crypto industry advocates had previously stated that a crypto bill they had come across would “kill DeFi.” The controversial legislature has seen an updated draft being released online. Initial reactions seemed positive, with commentators raving on about how the U.S. is “finally getting their act together.” The bill is named the Digital Commodities Consumer Protection Act (DCCPA), with an updated version currently circulating online. Tones have once again changed with some voices suggesting that it could be positive for DeFi and crypto. The previous draft amassed heavy criticism from industry representative bodies for not watering down the definition of “digital commodity
2 years ago
1 min read
The price of Ethereum has once again declined at the $1299 price mark, with the coin returning to its charts from the previous day. Within a 24-hour window, ETH largely remained static on its charts. Continued side trades are expected to push the Ethereum price towards the $1200 support level. Bitcoin, as the benchmark, has also remained mundane in the last 24-hour window period. This inactivity also held true for the vast majority of altcoins. Ethereum’s technical outlook strongly suggests that the bulls are not in control of the market. This is indicated by the continued rejection at the $1300 price
2 years ago
1 min read
Relai is also improving its user interface to make acquiring bitcoin easier, as Europeans can now buy bitcoin instantaneously 24/7 using Visa, Mastercard, and Apple Pay. According to a press release issued to Bitcoin Magazine, Relai, a Swiss-based bitcoin software, has teamed up with Checkout.com to enable 24/7 bitcoin purchases in Europe through user-owned wallets. “We are happy to announce our relationship with Checkout.com at a time when it is more crucial for individuals to have control over their money,” said Julian Liniger, CEO and co-founder of Relai. With this collaboration, Relai becomes the first company in the region to
2 years ago
2 mins read
According to a recent source, FTX delivered Voyager Digital’s primary wallet 50,000 Ethereum, valued at around $65 million. The transaction was confirmed in a tweet by Alex Svanevik, the CEO of the blockchain analytics company Nansen. Some crypto companies struggled with insolvency as a result of the crypto winter. Even several cryptocurrency businesses left the market as a result of this negative market. Even worse, several businesses drastically reduced their workforce while others completely ceased operations. One of the companies that lost 20% of its workforce owing to cash flow problems was Coinbase. Voyager Digital is one of the businesses
2 years ago
1 min read
In a positive development, Dapper Labs will bring relief to users affected by EU sanctions against Russia by granting them access to withdraw their NFTs to a non-custodial wallet. This frees assets previously frozen under the directive of Circle. Clients will be able to withdraw various NFTs from their dapper Wallet to a Blotco Wallet. The company stated that prior restrictions to accounts with ties to Russia stemmed from a directive from Circle, the large peer-to-peer payments technology company behind stable coin USDC, acting as Dapper’s payment processing and stored value service partner. “Circle holds custody over customer funds and
2 years ago
2 mins read
The EU Commissioner has once again come under the spot light, with calls for a more consolidated global approach to crypto regulations. This emerged during a visit to the United States, where she emphasized how vital global regulatory efforts have become. She urged local lawmakers to hastily come up with crypto-related regulations. This comes on the back of the European Union making significant advances in making crypto regulation official after having passed the Markets in Crypto Assets Regulation (MiCA) bill, which has not been prepared for adaption by American law. This MiCA bill aspires to control digital assets within the
2 years ago
1 min read
Through a specialized section, the International Criminal Police Organization (Interpol) is stepping up its efforts to assist member nations in battling crimes connected to cryptocurrencies. According to a September 17 article in the Business Standard, Interpol, which has 195 members, has already established a branch in Singapore to assist governments in battling various crimes spread by the expanding bitcoin industry. Notably, Interpol Secretary General Jürgen Stock noted that one of the major difficulties in combating financial crime in the industry is the absence of a legislative framework governing cryptocurrencies like Bitcoin (BTC). Speaking at the Interpol general assembly in India,
