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FTX Co-Founder Indicted by Federal Grand Jury in Manhattan, Bahamian Magistrate Denies SBF’s Bail
14.12.2022
On Dec. 13, 2022, the Southern District of New York (SDNY) prosecutor’s office and SDNY attorney Damian Williams revealed that the FTX co-founder Sam Bankman-Fried has been indicted for “fraud, money Laundering, and campaign finance offenses.” SDNY attorney Williams said that the case was...
Bitcoin Miner Terawulf Raises $10M in Fresh Capital to Pay Down Debt, Restructures Deal With Bitmain
13.12.2022
On Monday, Dec. 12, 2022, the Maryland-based bitcoin mining company Terawulf announced that the firm has raised $10 million in capital to pay down debts. The firm also said that it restructured a deal with Bitmain which will enable the company’s self-mining capacity to expand and fully...
Sam Bankman-Fried Wants to Start New Business to Repay FTX Users — ‘I’m Going to Try if I Can’
13.12.2022
Former FTX CEO Sam Bankman-Fried (SBF) has revealed that he wants to start another business in the hope of earning money to repay FTX customers. “I would give anything to be able to do that. And I’m going to try if I can,” he said. SBF Wants to Start a New Business...
Kevin O’Leary Reveals FTX Paid Him $15 Million to Become a Spokesperson for the Exchange
9.12.2022
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has revealed that the collapsed crypto exchange FTX paid him about $15 million to become its spokesperson. “I put about $9.7 million into crypto. I think that’s what I lost. I don’t know. It’s all at zero,”...
Nigeria Announces New Cash Withdrawal Restrictions — ATMs Limited to Less Than $44 per Day
8.12.2022
In a new directive to financial institutions, the Central Bank of Nigeria (CBN) said individuals can now only withdraw an equivalent of just under $222 per week while corporates can only withdraw cash not exceeding $1,111 during the same period. The new limits, which are in line with...
Remittances to Low and Middle Income Countries in 2022 Up by 5% to $626 Billion — Latest World Bank Report
7.12.2022
Despite the headwinds that have dominated the year, remittances to low and middle-income countries in 2022 still grew by 5% to $626 billion, the World Bank Migration and Development Brief has said. Africa, where the cost of sending $200 averaged 7.8% in 2022, is the “most severely exposed...
CEO of Crypto-Focused Bank Silvergate Addresses Insolvency Concerns – Here’s What He Said
6.12.2022
The CEO of the crypto-friendly bank Silvergate, Alan Lane, has addressed concerns that the bank could be near insolvency, saying the bank has “a resilient balance sheet and ample liquidity.”
The statement from the CEO was made in a public letter published on Monday, where Lane made it clear that...
Report: South African Digital-Only Bank Launches Crypto Payments Gateway
6.12.2022
A South African digital-only bank (also known as a “neo bank”), Be Mobile Africa, has reportedly launched a crypto payment gateway that allows merchants to convert digital currency payments to fiat currency. Cédric Jeannot, the CEO of the digital-only bank, said the “new gateway...
Report: Nigerian Finance Bill Has Provisions Allowing Govt to Tax Crypto Transactions
5.12.2022
A Nigerian finance bill, which seeks to amend the country’s various tax statutes, contains provisions which allow the government to tax cryptocurrency and other digital asset transactions, a report has said. Nigeria is reportedly seeking to join six other countries, including two from Africa...
EU Parliament to ‘Vote on Adopting the Regulation on MiCA’ — Expert Says Industry Needs Legal Clarity
3.12.2022
In a recent statement, the European Parliament said its members would shortly “vote on adopting the regulation on markets in crypto-assets (MiCA).” According to the parliamentary body’s think tank, the envisaged regulations are expected to provide “legal certainty...
SBF Was ‘Delusional,’ Will ‘Spend Time in Jail’ Says Galaxy’s Mike Novogratz — ‘He Needs to Be Prosecuted’
2.12.2022
Galaxy Digital’s CEO Mike Novogratz talked to Andrew Ross Sorkin on CNBC’s Squawk Box and gave his reaction to Sam Bankman-Fried’s (SBF) recent New York Times (NYT) Dealbook Summit interview. Novogratz said that SBF was “delusional” and insisted that the former FTX CEO needs to be prosecuted...
Kevin O’Leary, Bill Ackman Slammed for Defending Sam Bankman-Fried — ‘I Think SBF Is Telling the Truth’
2.12.2022
Shark Tank star Kevin O’Leary and billionaire hedge fund manager Bill Ackman have been slammed for stating that they believe Sam Bankman-Fried (SBF) was telling the truth that he “didn’t knowingly commingle funds.” The former CEO of the collapsed crypto exchange FTX also...
Binance Acquires Licensed Japanese Crypto Exchange — Prepares to Enter Japan as Regulated Entity
1.12.2022
Cryptocurrency exchange Binance has acquired a regulated Japanese cryptocurrency exchange and is now preparing to enter the Japanese crypto market as a regulated entity. “The Japanese market will play a key role in the future of cryptocurrency adoption,” said the general manager...
Report: Nigerian Securities Regulator to Exclude Crypto in its Digital Asset Agenda
30.11.2022
According to Lamido Yuguda, the director general of the Nigerian Securities and Exchange Commission, the regulator does not plan on including cryptocurrencies in its digital asset agenda. Yuguda reportedly said the commission will only change its stance on cryptos when Nigerian regulators agree...
Cameroonian Fintech Ejara Raises $8 Million in Series A Investment Round
30.11.2022
Just over 12 months after raising $2 million, the Cameroonian fintech whose app allows users to buy and store crypto assets recently said it had received $8 million in its Series A investment round. According to Ruth Foxe Blader, partner at Anthemis, Ejara aims to become the one-stop platform where...
Veteran Investor Mark Mobius Expects Bitcoin Price to Fall to $10,000
30.11.2022
Veteran investor Mark Mobius, the founder of Mobius Capital, expects the price of bitcoin to fall to $10,000. Nonetheless, he said: “Crypto is here to stay as there are several investors who still have faith in it.” Mark Mobius’ Bitcoin Price Prediction The founder of Mobius...
Report: Nigerian Crypto Exchange Quidax Cuts Its Workforce by 20%
28.11.2022
As it reels from the effects of what it termed a global economic downturn, the Nigerian digital asset exchange platform, Quidax, recently said it had laid off employees who constituted 20% of its workforce. Despite the layoffs, Quidax reportedly told its customers it is ‘not going anywhere...
Alameda Withdrew $204M in Crypto From FTX US Days Before Exchange Collapsed
28.11.2022
Alameda Research reportedly withdrew the most funds from FTX US, the U.S. arm of FTX, days before the crypto exchange filed for bankruptcy. The majority of the withdrawn cryptocurrencies were sent to wallets owned by FTX International, “suggesting that Alameda may have been operating...
New Naira Banknotes to Make Monetary Policy More Effective — Nigerian Central Bank Governor
27.11.2022
The Central Bank of Nigeria governor, Godwin Emefiele, has said the newly designed naira banknotes are set to enhance the effectiveness of the organization’s monetary policy and bolster the financial inclusion cause. Forcing Currency Hoarders to Return to the Banking System According to...
IMF Blog: Better Regulation of Africa’s Growing Crypto Market Urgently Needed
24.11.2022
A well-regulated African cryptocurrency market is needed in order to protect users as well as help countries stop bad actors from using digital assets to circumvent capital controls, the latest post on the IMF blog has said. The blog post reiterated the IMF’s belief that risks to a country...