Author: Teererai Mukonavanhu

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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

Revolut to Halt Crypto Purchases for UK Business Clients in 2024 Amid FCA Regulations

3 months ago 1 min read

Revolut, a popular fintech platform, plans to end crypto purchases for its UK business clients in 2024. The move is in response to the Financial Conduct Authority’s (FCA) new investor protection regulations. While business clients will still be able to hold and sell existing cryptocurrency holdings, their ability to acquire additional digital assets will be limited. This change is part of Revolut’s strategy to stay current with the regulatory landscape. The Financial Conduct Authority implemented these safeguards to protect investors and ensure responsible practices in the cryptocurrency space. Revolut intends to comply with these regulatory changes by restricting business clients’

Solana’s Bonk Rockets 130% on Binance, Now Among Top 50 Crypto

3 months ago 1 min read

Bonk, Solana’s leading meme coin, has experienced a remarkable 130% increase in value within a week of being listed on Binance. The coin, created by an anonymous team, has now achieved a market value of $2 billion, propelling it into the top 50 cryptos. Binance initiated trading for Bonk across various pairs. However, it issued a cautionary note about the coin’s high volatility, emphasizing its status as a meme coin with an unknown origin. Despite these warnings, Bonk’s value skyrocketed, securing its position as the third-largest meme coin, trailing only Dogecoin and Shiba Inu. Bonk’s meteoric rise has been spectacular,

Over $400,000 stolen from OKX DEX in a security breach

4 months ago 1 min read

According to reports by blockchain security firm SlowMist, OKX DEX, a decentralized exchange aggregator, was the victim of a security breach that resulted in the theft of over $400,000 in crypto. The exploit was traced back to compromised management rights of a market maker contract, which allowed unauthorized token transfers. OKX DEX is known for aggregating trading prices from various decentralized exchanges (DEXes) and displaying the best available prices to users. The attacker took advantage of manipulated management rights within a TokenApprove contract in this case, resulting in unauthorized token transfers. On December 12th, a security incident occurred, raising concerns

Ultra to Launch First Resalable Tokenized PC Game: Josh Journey

4 months ago 1 min read

Ultra, a PC marketplace catering to both blockchain and traditional “Web2” video games, is set to introduce a groundbreaking feature—launching the first digital PC game that can be resold to other users via a tokenized license. The feature will debut with the game “Josh Journey: Darkness Totems,” a beat-’em-up title developed by Provincia Studio. Notably, this move aligns with Ultra’s commitment to creating a platform where users can legally resell digital games, offering developers a share of the resale price. Scheduled for launch on Wednesday, the feature will enable users to list Josh Journey for resale on Ultra’s secondary marketplace,

Solana (SOL) drops by over 2.5%, trading at $69.68

4 months ago 1 min read

Anatoly Yakovenko, the co-founder of Solana, took a moment to reflect on the six-year journey that led to the establishment of Solana (SOL), a crypto project currently valued at more than $30 billion, in a recent Twitter post. Yakovenko discussed the difficulties encountered during the early stages of fundraising and development for Solana. Yakovenko’s Twitter post marks the sixth anniversary of his fundraising efforts for Solana, which began on December 9, 2009. He shed light on the early difficulties in obtaining sufficient funding to propel Solana’s development, emphasizing the resilience and determination required in the early stages of a crypto

BlackRock warns the US SEC about Bitcoin’s potential classification as a security

4 months ago 1 min read

BlackRock, the world’s largest asset manager, has issued a warning to the US Securities and Exchange Commission (SEC) about Bitcoin’s potential classification as a security. The asset manager emphasized the potential consequences, stating that such a classification could make trading and handling Bitcoin in the United States difficult. BlackRock is concerned about the potential negative impact on Bitcoin’s trading value if it is classified as a security by the SEC. Drawing parallels to the SEC’s legal actions against Ripple, BlackRock stated that the market value of XRP dropped from $100 billion to $10 billion as a result of regulatory scrutiny

Jack Dorsey’s Block Unveils Bitkey: A Self-Custody Bitcoin Wallet for Global Users

4 months ago 2 mins read

A team led by Block founder Jack Dorsey has launched a new self-custody Bitcoin wallet called ‘Bitkey.’ This innovative wallet will be available in over 95 countries, providing users with a safe and simple way to manage their Bitcoin holdings. Bitkey can be accessed via a smartphone app or hardware storage, providing crypto enthusiasts with a flexible and accessible experience. The highlight of Bitkey is its two-of-three multi-signature wallet, which includes a secure hardware device and recovery tools. A server key, a mobile key, and the user’s fingerprint are all included in the wallet. Users will need to use both

Binance Quietly Discussed $4 Billion Settlement with VIPs Months Before Public Announcement

4 months ago 1 min read

According to an exclusive report, Binance privately disclosed details of its $4 billion settlement with the DOJ during a dinner for major market makers held in a Singapore nightclub. Surprisingly, this discussion took place several months before the settlement amount was made public. According to Bloomberg, attendees at the dinner inferred that Binance was able to cover the $4 billion settlement. Notably, the former CEO, Changpeng Zhao, did not attend the dinner, but the new CEO, Richard Teng, did. CZ entered into a plea agreement in November, agreeing to step down as CEO and admitting his involvement in anti-money laundering

The United Kingdom wants taxpayers to “voluntarily” disclose any unpaid tax on various digital assets

4 months ago 2 mins read

HM Revenue and Customs (HMRC) in the United Kingdom has announced a new system that will allow taxpayers to “voluntarily” disclose any unpaid tax on various digital assets. This action is part of the government’s broader strategy to improve oversight of the emerging asset class, which includes cryptocurrencies. This initiative, which was announced on November 29, 2023, covers a wide range of crypto assets, including exchange tokens like Bitcoin, non-fungible tokens (NFTs), and utility tokens. The framework established by the regulator allows individuals to proactively disclose any unreported income or gains from crypto assets. This approach aims to help taxpayers

FTX Debtors Granted Approval to Liquidate Assets, Including Grayscale Holdings, by Bankruptcy Court

4 months ago 1 min read

A Delaware bankruptcy court has approved the sale of trust assets worth $744 million, including holdings in Grayscale and Bitwise funds, by FTX Trading and its associated debtors. The decision was made on Wednesday by Judge John Dorsey in response to a motion filed in November seeking permission to liquidate units in six cryptocurrency funds. Grayscale Bitcoin Trust, Grayscale Ethereum Trust, Bitwise 10 Crypto Index Fund, Grayscale Ethereum Classic Trust, Grayscale Litecoin Trust, and Grayscale Digital Large Cap Trust are among these funds. Grayscale’s flagship bitcoin fund (GBTC) holds the majority of these assets, accounting for nearly 22.3 million units

FTX founder Sam Bankman-Fried Denied Bail

4 months ago 1 min read

The former CEO of FTX, Sam Bankman-Fried (SBF), faces continued detention as the court rejects his recent bail request, compelling him to await sentencing and a potential appeal. In a mandate dated November 21, the Appellate Court upheld the decision to revoke SBF’s bail, referencing earlier findings in September that affirmed witness tampering allegations. The previous appeal in September saw Circuit Judges supporting Judge Kaplan’s ruling that SBF attempted to tamper with witnesses, forming the primary basis for his detention. The recent denial of bail also revolves around persistent concerns about witness tampering, especially in the context of a potential

Dutch Crypto Exchange Expands into the French Market

4 months ago 1 min read

The Dutch crypto exchange Bitvavo has received approval from France’s financial regulator, the AMF, signaling its entry into the French market. This move follows recent forays into Austria and Italy, with plans to expand further into the European market. Bitvavo CEO Mark Nuvelstijn expressed excitement about providing cryptocurrency services to French users. He emphasized the growing interest of French adults in crypto investments, which aligns with Bitvavo’s strategic expansion goals. Bitvavo, boasting 1.5 million customers in the Benelux region, emphasizes a gradual approach to expansion. Nuvelstijn emphasized the importance of focusing on key markets rather than hastily entering the entire