Teererai Mukonavanhu
I'm a crypto, blockchain, and tech writer. I spend my time researching and writing about cryptocurrency and new technology.
Articles by Teererai Mukonavanhu
2 months ago
1 min read
Social investing platform eToro has announced a new partnership with Twitter, which will enable the firm to offer trading services for cryptocurrencies and other assets directly to Twitter users. This new feature will provide Twitter users who search for “$Cashtags” with real-time prices for cryptocurrencies, stocks, and other assets, and then direct them to the eToro platform to invest in them. The partnership is global, meaning Twitter users worldwide will be able to access this feature. According to a spokesperson for eToro, this partnership with Twitter will expand the range of assets that users can see live price charts for
2 months ago
1 min read
Argentina’s securities regulator, the National Commission of Value (CNV), has approved a Bitcoin-based futures index that is set to debut on the Matba Rofex exchange. The exchange claims that the Bitcoin futures contract will be the first regulated Bitcoin futures index in Latin America. The contract, based on the price of Bitcoin, will be settled in the national fiat currency and trades will be required to be settled through bank transfer. The regulated Bitcoin futures index will offer qualified investors a transparent and regulated way to gain exposure to Bitcoin. Meanwhile, the CNV has also asked Matba Rofex to incorporate
2 months ago
1 min read
The translation of the whitepaper enables Bitcoin to transcend national borders and reach a wider audience. It promotes a more decentralized and democratized approach to finance, which aligns with Bitcoin’s principles. The Bitcoin whitepaper, published in 2008, provided a comprehensive explanation of how Bitcoin operates as a decentralized, peer-to-peer digital currency without the need for intermediaries. It set the foundation for the creation of the Bitcoin network, which has since then become a global phenomenon. As Bitcoin continues to gain popularity worldwide, it is important that the community works together to ensure that language barriers do not impede its adoption.
2 months ago
2 mins read
Former executives of the bankrupt cryptocurrency exchange FTX are being blamed for the company’s failure to install appropriate financial controls, which is complicating the asset recovery process. According to a court filing dated on Sunday, representatives of FTX Trading Ltd. claim that the previous management team, which included its founder Sam Bankman-Fried, failed to implement control measures and “placed its crypto assets and funds at risk from the outset.” The restructuring team said in the report that FTX did not have personnel knowledgeable enough to account accurately for assets and liabilities, nor did it run dedicated financial risk, audit, or
2 months ago
1 min read
Binance.US, the U.S. arm of the global cryptocurrency exchange, has reportedly faced difficulties in securing a new bank partner to serve as a fiat on-ramp and off-ramp for its clients in the country. The Wall Street Journal reported on April 8 that recent failures of Silvergate and Signature Bank left Binance.US without banking services, depending on middleman banks to store funds on its behalf. Regulatory crackdowns on banks with crypto clients are also contributing to the exchange’s struggles. Attempts to establish direct banking relationships with banks such as Cross River Bank and Customers Bancorp have failed. As a result, the
2 months ago
0 mins read
The Arbitrum Foundation has offered a proposal to expand budget oversight and governance powers for ARB token holders after a crypto governance controversy last weekend. The foundation pledged not to move 700 million ARB tokens from its “Administrative Budget Wallet” until the community approved “an acceptable budget.” Additionally, the foundation proposed two motions that would increase governance accessibility and reduce the foundation’s power. The proposal comes after a community-wide uproar ensued when the foundation transferred 750 million ARB tokens to one of its wallets. The Arbitrum Foundation is responsible for developing Arbitrum, the fourth-largest blockchain with $2.24 billion in total
2 months ago
1 min read
The U.S. Securities and Exchange Commission (SEC) is urging investors to exercise caution when investing in cryptoasset securities. The agency’s Office of Investors Education and Advocacy has warned that platforms offering crypto trading may not be complying with federal securities statutes. In a bulletin issued on Thursday, the SEC emphasized that the law requires securities broker-dealers, investment advisers, and exchanges to register with the SEC, a state regulator, or a self-regulatory organization. Entities and platforms involved in lending or staking crypto assets may also be subject to federal securities laws. This warning follows the SEC’s previous attempts to demonstrate that
2 months ago
1 min read
On Monday, Coinbase Global (COIN) announced to its clients that it would no longer support Signet, the real-time payments network of Signature Bank that was recently shut down by New York State regulators. According to a report by the Wall Street Journal, Coinbase users who used Signet for U.S. dollar deposits or withdrawals won’t be able to send funds outside of the usual banking hours, but Coinbase said it was looking for a new technology partner. The fate of Signet has been uncertain since Signature Bank was shut down by New York State regulators last weekend, and its assets transferred
2 months ago
1 min read
The chief executive officer of Bithumb’s holding company, Lee Sang-jun, is under investigation by South Korean prosecutors for alleged bribery in listing certain cryptocurrencies on the exchange. The Seoul Southern District Prosecutors’ Office confirmed the investigation, which includes a raid on Bithumb Holdings and Lee’s private residence earlier this month. Prosecutors also revealed that a former employee of Coinone, the country’s third-largest crypto exchange by trade volume, is being investigated for allegedly taking bribes to list specific cryptocurrencies. The investigation adds to the growing list of charges against Bithumb executives. A South Korean court is set to hold the first
2 months ago
1 min read
HSBC-owned Silicon Valley Bank UK (SVB UK) has reportedly granted £15m to £20m ($18.26 million to $24.35 million) in bonuses to staff and executives, just days after being acquired by HSBC for £1 ($1.22). According to unnamed sources cited in a March 18 Sky News report, HSBC UK Bank authorized the payments, which were described as “modest.” The insiders added that if SVB UK had not been acquired “solvently,” the bonuses would not have been paid, but the payout is a signal of HSBC’s confidence in the talent at SVB UK and a move to retain key staff. SVB UK’s
2 months ago
1 min read
PLBY Group, the parent company of Playboy, has announced a $4.9 million impairment loss on the Ethereum it held last year. The loss was incurred due to the significant decline in market prices during the crypto winter, according to the company’s annual filing. Playboy accepted Ethereum as payment for its “Rabbitars” non-fungible tokens (NFTs), which were launched in 2021. These NFTs are held in the company’s balance sheet as digital assets, with a value of $327,000 as of last year. However, a previous filing showed that the company’s digital assets were worth $1.75 million as of September 30, 2021. The
3 months ago
1 min read
In a recent cyber attack, Poolz Finance has lost nearly $390,000 on both the Binance Smart Chain and Polygon. The hack was spotted by blockchain security company PeckShield on Wednesday. The firm suspects that an arithmetic overflow issue could have been the reason behind the hack. This occurs when a larger operation yield is performed against a smaller storage system, leading to bugs in the system. PeckShield’s analysis revealed a repeat pattern by the same sender on the Token Vesting contract. This issue has been identified in Solidity, which states that arithmetic operations wrap on overflow. In high-level programming languages,
