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Nigerian Central Bank Says It Will Release New Banknotes in December - Naira Falls to New Low
Starting December 15, Nigerians will be using newly-designed 100, 200, 500 and 1,000-naira banknotes, the governor of the Central Bank of Nigeria (CBN) has said. The announcement has since resulted in the naira’s parallel market exchange rate versus the U.S. dollar dropping to a new low of N781:$1.
Bitcoin ATMs Increase in Number in Moscow, Russia
The number of bitcoin ATMs has been on the rise in Russia’s capital and the rest of the country, a press report revealed this week. There is demand for the service as it offers easy access to cryptocurrencies, although not at the best exchange rates and still amid regulatory uncertainty.
Egyptian Currency Plunges 15% After Cairo Accedes to Key IMF Exchange Rate Condition
After authorities in Egypt announced the adoption of a more flexible exchange rate regime, the pound exchange rate versus the U.S dollar plunged to 23.09:1, a new low for the currency. Cairo’s apparent devaluation of the Egyptian pound met a key condition set by the International Monetary Fund (IMF) before it eventually approved a $3 billion bailout package for Egypt.
Ethereum Devs Try To Leverage Price Surge As Smart Contracts Reach New High
Ethereum rallied with the rest of the crypto market, reaching above $1,500 to land at a new one-month high. As the market rallied, developers had roused from their slumber looking to take advantage of the renewed interest in the market. This saw the number of new smart contracts deployed on the network reach new 2022 highs. Devs Bring The Heat Through 2022, the number of new smart contracts being deployed on the Ethereum network had been on the decline.
Fantom Network Launches Automated Smart Contract Audit System Watchdog to Monitor for Bugs
On October 27, the Fantom Foundation announced a collaboration with the security and analysis platform Dedaub in order to bolster Fantom’s decentralized finance (defi) ecosystem. Dedaub’s monitoring system called Watchdog will monitor smart contracts on the Fantom blockchain for exploits and buggy code.
Singapore Police Received 631 Cryptocurrency Scam Reports in 2021, Government Says
The government of Singapore has revealed the number of crypto scams reported to the police in the past three years. “The vast majority of cryptocurrency scams are perpetrated by scammers based outside Singapore. As such, there is a limit to how much law enforcement agencies in Singapore can do,” said Singapore’s minister for home affairs.
Undefeated (44-0) Gilberto ‘Zurdo’ Ramírez Challenges for WBA Light Heavyweight World Title vs․ Dmitry Bivol With Bitcoin․com Backing
Gilberto ‘Zurdo de Oro’ (Golden Southpaw) Ramírez, with Bitcoin.com in his corner, has a shot at the World Boxing Association (WBA) light heavyweight title as he faces Dmitry Bivol, also undefeated. In what is being hailed as the biggest fight of the year, Ramirez vs Bivol is the main event of a DAZN card that will be aired live from Etihad Arena in Abu Dhabi on November 5.
Costa Rica Might Be the Next Country to Establish Bitcoin as Regulated Currency
Costa Rica could be one of the next countries to adopt bitcoin as a regulated payment method. This week, Congresswoman Johana Obando introduced a bill to allow bitcoin and other cryptocurrencies to serve as a form of payment. The bill also proposes that traditional banking institutions be able to serve as crypto exchanges, including custody and wallet services for their customers. Costa Rica to Regulate Cryptocurrency Costa Rica could be on the path to integrating bitcoin as part of its economy.
Mad Money’s Jim Cramer Apologizes for Being Wrong About Facebook Parent Meta After Stock Plunges
The host of Mad Money, Jim Cramer, has apologized to investors for being wrong about Facebook parent Meta Platforms after its stock plunged to a record low. “I made a mistake here. I was wrong,” he said emotionally after stating previously that Meta was a good investment. “I failed to help people. And I own that.” Jim Cramer’s Apology About Meta: ‘I Was Wrong’ The host of CNBC’s Mad Money show, Jim Cramer, apologized to investors Thursday for recommending Facebook parent Meta Platforms Inc.
US Judge Orders Bitcoin Ponzi Operator Imprisoned for Ignoring Court Order to Pay SEC $40 Million
A district judge has ordered a bitcoin Ponzi operator to be arrested and imprisoned after he ignored multiple court orders and failed to pay the U.S. Securities and Exchange Commission (SEC) $40 million. He pleaded guilty to securities fraud in 2015. Bitcoin Ponzi Operator Faces Imprisonment After Failing to Pay SEC Judge Amos L.
257 Economists Say Global Recession Is Near, US Trade Restrictions Against China Could Stir Taiwan Invasion
According to 257 economists polled by Reuters, the global economy is approaching a recession, but 70% of the survey’s participants believe the chances of a sharp rise in unemployment levels will be low. The poll follows the Biden administration and the U.S. Commerce Department issuing a package of trade restrictions against China’s relationship with the semiconductor industry.
Nigerian CBDC Still Not Widely Used a Year After Launch
On October 25, Nigeria commemorated the first anniversary of the Central Bank of Nigeria’s e-naira, even as more residents continue to snub the digital currency. In a move aimed at boosting the use of the CBDC, the central bank is offering a 5% discount to motorized rickshaw drivers and passengers that use the e-naira. Kingsley Obiora, a deputy governor at the CBN, suggested that the digital currency needs “a little push from the government” if it is to be widely embraced.
Why EOS Downward Trajectory In Last 30 Days May Not Hurt Its Coin
Since its all-time high on August 22, EOS has been steadily declining. The crypto market had crashed from March to June, but has since recovered. The market crisis has a lingering impact on modern investing. Coingecko reports that the token’s value has increased by 0.2% in the last 24 hours. Even on shorter time intervals, like the week or the biweek, the currency rose in value. Nonetheless, these changes have done little to slow the downward trend.
Yuan Taps New Low Versus US Dollar as Investors React to Endorsement of Chinese President’s Third-Term Bid
The Chinese yuan’s offshore exchange rate against the U.S. dollar fell to a new all-time low of 7.33:1 just over a day after the conclusion of the Chinese Communist Party’s congress which gave President Xi Jinping the mandate to lead the country for the third time. Concerns over Xi’s unprecedented third term, as well as the reshuffle of his top team, are said to have sparked a sell-off of stocks that wiped billions from the wealth of China’s super rich.
Is This Product Likely to Bring Cardano Back to $1? Charles Hoskinson Speaks Out
Cardano is sinking deeper into support after a rejection at $0.50 and $0.40 with no indication of a rebound. The cryptocurrency has been one of the worst performers in this crypto bear market, but the bulls might still have some hope. At the time of writing, Cardano (ADA) trades at $0.37 with a 2% profit in the last 24 hours and a 2% loss in the previous seven days. Over the past month, ADA’s price records a massive 20% loss wiping out any bullish sentiment for investors.
Quik․com Offers Registry of ․metaverse ․web3 and 8 Other NFT Domain TLDs
Media Did you know? Due to the decentralized nature of NFT domains, users can host decentralized websites with legitimate ownership, control, and management access. Only the NFT domain owner is capable of making modifications to the domain, which also gets rid of third-party interference and centralized control. But what is Quik.com doing here?
Africa Focused Crypto Exchange Yellow Card Granted VASPs License in Botswana
Yellow Card, an Africa-focused cryptocurrency exchange platform, recently said it has received a virtual asset service provider (VASP) license to operate in Botswana. Granted by the country’s Non-Bank Financial Institutions Regulatory Authority, Yellow Card’s license allows the crypto exchange to bolster its operations on the continent.
Report: Billionaire Says Britain May Be Forced to Seek Bailout From IMF if It Does Not Renegotiate Brexit Deal
British billionaire investor Guy Hands has reckoned that Britain will become “the sick man of Europe” and may be forced to seek a bailout from the International Monetary Fund (IMF) if it does not renegotiate its Brexit deal. The billionaire insisted the United Kingdom’s current economic woes are the result of a poorly negotiated Brexit deal and not the Liz Truss government’s controversial tax cut proposals.
Secondary Sales Volume Tied to Reddit’s Collectible NFT Avatars Surges Crossing $5 Million
Reddit’s non-fungible token (NFT) avatars have produced significant market action in the NFT industry, as the collectible’s secondary market sales reached more than $5 million on October 24 across more than 20,000 sales. The demand for Reddit’s collectible NFT avatars minted on Polygon has also spurred over three million Redditors to leverage Reddit’s Vault blockchain wallet.
Israel’s Stock Exchange Unveils Plan to Create Digital Asset Platform and Venture Into Crypto
The Tel-Aviv Stock Exchange, the only public stock exchange in Israel, has announced that it is entering the crypto space and creating a platform for digital assets. “The next five years are a critical window of opportunity for TASE to play an active role in the technological revolution of the global capital markets,” said the CEO of the Tel-Aviv Stock Exchange.
Nokia Believes the Metaverse Will Replace Smartphones in the Future
Nokia, one of the first companies to manufacture a consumer-grade mobile phone system, now believes the metaverse will cause phones to become deprecated. These metaverse experiences will be powered by the use of virtual reality (VR) headsets and augmented reality glasses, and will allow users to interact in several activities. Industrial usage will also be significant.
A Crypto Rewards Platform That Promised 40% APY Halts Withdrawals, Citing ‘Market Fluctuations’
A crypto rewards platform called Freeway.io has notified users that it decided to reallocate capital in order to “manage exposure to future market fluctuations and volatility.” In doing so, users are unable to withdraw funds from the platform, and the Freeway team explained that amid the reallocation process, the team could not comment further.
Chainalysis: Stablecoins Used to Fight Devaluation and Inflation in Latam
According to Chainalysis, a crypto auditing and blockchain tracking firm, the use of dollar-pegged stablecoins is growing in Latam, specifically in Argentina and Venezuela, due to the common economic problems that both countries are facing. 34% of the “small” transactions include stablecoins in Venezuela, and 31% of these in Argentina, as citizens seek to shield themselves from devaluation and inflation.
Santander Proposes Project to Tokenize and Trade Properties With the Brazilian CBDC
Santander, the Spain-based bank, has presented a project to use tokenization in tandem with the digital real, the proposed Brazilian cryptocurrency, in order to facilitate property transactions. The proposal, part of the LIFT challenge, would be focused on simplifying the sale of real estate properties and cars for the Brazilian population.
Analysts Say an Onslaught of Fed Rate Hikes Could Spur a ‘Bond Market Flash Crash’ or ‘Blow up the Treasury’
The U.S. economy has been struggling with inflation running rampant and investors are eagerly waiting for the U.S. Federal Reserve to announce the next federal funds rate hike next month.
Interview With Evan Luza, Cool Cats Co-Founder and Advisor to Bitcoin․com Verse NFT Collection
Bitcoin.com yesterday announced that buyers in the VERSE token sale, which starts on November 1, will receive exclusive NFTs. Register now at getverse.com to increase your Schance of getting the allocation you want. We also announced that Evan Luza, the co-founder of Cool Cats, had joined Bitcoin.com to advise on the Verse NFT project.
Nigerian Presidential Hopeful’s Party Says It Will Review Country’s Blockchain and Crypto Policy if Elected
The party of the Nigerian presidential hopeful Asiwaju Bola Tinubu has promised to set up an advisory committee to review regulations that govern blockchain and virtual asset services if it wins in the upcoming elections.
CoinEx Supports the Dream of Every Common Man by Sponsoring Rugby League World Cup 2021
The Rugby League World Cup 2021 is held in the UK between 15 October and 19 November 2022. It is an honor for CoinEx to be a sponsor of the prestigious RLWC event and to have the opportunity to inspire rugby fans to begin their cryptocurrency trading journeys.
Think Before You Sell Your Bitcoin
The entire world is in the midst of financial calamity unlike most alive have ever seen. Is the middle of the bear market the time to sell your bitcoin? This is an opinion editorial by Robert Hall, a content creator and small business owner. The last few months have not been great for the bitcoin price. Bitcoin continues to languish around the $19,000 to $24,000 range with no end in sight. Bear markets are a time when your conviction will be significantly tested.
Fidelity’s Crypto Platform Prepares to Start Offering Ethereum Trading Next Week
Fidelity Digital Assets, a subsidiary of Fidelity Investments, has informed customers that it will start offering ethereum trading and custody services on Oct. 28. “Investors will be able to buy, sell, and transfer ether, accessing the same operational excellence, robust security, and dedicated client service model provided for bitcoin investments today,” the firm said.
Hacker Siphons Close to $300K in OHM Tokens From the Olympus DAO
On Friday, October 21, a malicious entity siphoned 30,437 OHM tokens from the Olympus DAO after finding a loophole in the rebase project’s smart contract. Following the exploit, the blockchain security and data analytics company, Peckshield, detailed the hackers stole close to $300K in OHM tokens.
Report: Bank of America Economist Predicts 20% Devaluation of the Nigerian Currency in 2023
A Bank of America economist, Tatonga Rusike, has said the Nigerian currency is overvalued by as much as 20% and will likely be devalued in 2030. The remarks by the economist came just days after the currency’s exchange rate reportedly touched a new low of just under 750 naira for every U.S. dollar on the parallel market.
Celestia Raises $55 Million to Solve Blockchain Modularity Challenge
Celestia, a project that aims to solve the perceived centralization problem in current monolithic blockchains, has announced it has raised $55 million in its latest funding round. The round, which was led by Bain Capital Crypto and Polychain Capital, also saw the participation of Delphi Digital, Protocol Labs, Figment, Maven 11, and Spartan Group, among others.
Hong Kong Mulls Letting Retail Investors Trade Crypto, Removing ‘Professional Investor-Only Requirement’
The director of licensing and head of the fintech unit of Hong Kong’s Securities and Futures Commission (SFC) has confirmed that the regulator is considering allowing retail investors to invest directly in crypto assets.
JPMorgan Hires Former Executive of Bankrupt Crypto Firm as Head of Digital Assets Regulatory Policy
JPMorgan Chase & Co. has hired bankrupt crypto lender Celsius Network’s former head of policy and regulatory affairs as its new head of digital assets regulatory policy.
How The New York Times Could Have Used Lightning To Make Millions Of Dollars
Had the publication accepted Lightning micropayments, the New York Times could have realized extensive returns. This is an opinion editorial by Ram, a twenty year old student, soldier and storyteller. To understand why the New York Times could have made so much more money last year, it’s worth appreciating micropayments in the context of the Lightning Network. We usually think of Lightning as a Bitcoin scalability solution as it makes everyday payments in bitcoin viable.
South African Financial Sector Regulator Declares Crypto Assets a Financial Product
According to a general notice published in a government gazette, crypto assets are now treated as financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act. Declaration of the crypto assets as financial products means crypto asset service providers (CASP), such as exchanges, must apply for a license.
Finder’s Experts Predict Bitcoin Will End the Year at $21K, Panel Expects BTC to Hit $79K by 2025
Following the recent xrp and ether prediction forecasts by crypto and fintech experts chosen by the product comparison web portal, finder.com, Finder’s latest handful of specialists have produced a predictions report for bitcoin. The group of 55 Finder’s experts think bitcoin will increase in value by more than 10% by the year’s end, and by 2025, the participants expect bitcoin to be around $79K.
Euro Area Annual Inflation Jumps to 9.9% in September, Cost of Bread Skyrockets, Protests Erupt
According to the European Union’s statistics office Eurostat on Wednesday, Euro area annual inflation is up to 9.9% in September, up from 9.1% in August.
EU Commissioner Urges US to Create New Crypto Rules - Says ‘We Need to Look at Global Regulation of Crypto’
The European Commission’s commissioner for financial services has reportedly urged U.S. lawmakers to establish new rules to regulate the crypto industry. “We do need to see other players also legislating … We need to look at global regulation of crypto,” said the commissioner.
Ethiopia Orders Banks to Reject Requests for Foreign Exchange to Buy ‘Non-Priority Products’
The Ethiopian government has instructed banks to reject requests for foreign currency to buy so-called non-priority products. The Ethiopian Minister of Industry Melaku Alebel Addis has defended the move, saying this will allow local manufacturers to grow and become competitive. The restrictions are set to remain in force for an indefinite period.
France’s 3rd Largest Bank Societe Generale’s Subsidiary Obtains Registration as Digital Asset Service Provider
Societe Generale-Forge, a subsidiary of France’s third-largest bank, has obtained registration with the Autorité des marchés financiers (AMF), the French financial markets regulator, as a digital asset service provider. Societe Generale’s Subsidiary Registers as Digital Asset Service Provider The digital asset subsidiary of Societe General Group, Societe Generale-Forge, is now registered with France’s financial regulator, the Autorité des marchés financiers (AMF).
Report: Bankrupt Crypto Hedge Fund Three Arrows Capital Probed by SEC, CFTC for Possible Legal Violations
Reports indicate that the bankrupt crypto hedge fund Three Arrows Capital (3AC) is facing more trouble from liquidators and financial authorities from the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The whereabouts of the hedge fund’s co-founders Su Zhu and Kyle Davis are still unknown and the court-appointed liquidator plans to leverage unorthodox means to send the two co-founders a subpoena.
Argentina to Launch ‘Fair Prices’ Program to Battle Raging Inflation Numbers
The government of Argentina has begun to act in several directions to control the raging inflation numbers registered this year. Sergio Massa, minister of treasury, proposed a program called “Fair Prices,” to force retailers and producers to establish a fixed price on various products, to be maintained for up to 90 days.
India to Discuss Crypto During G20 Presidency to Establish Tech-Driven Regulatory Framework, Says Finance Minister
India plans to discuss crypto regulations during its G20 presidency with member countries. Finance Minister Nirmala Sitharaman has revealed that the Indian government hopes to arrive at a framework or standard operating procedure (SOP) so that countries globally “can have a technology-driven regulatory framework” for crypto.
FX Strategists From Citi Say Euro Could Sink to $0.86 if Macro Turmoil Continues
While the euro has found support between 0.96 to 0.97 nominal U.S. dollars per unit, foreign exchange (FX) strategists from Citi believe the euro could tap a low of around $0.86 against the greenback.
Japanese Yen Plunges to 32-Year Low Against US Dollar - Another Intervention by Authorities Expected
The Japanese yen’s exchange rate versus the U.S. dollar recently plunged to its lowest rate in 32 years — 147.66 JPY per dollar. The yen’s latest fall comes less than a month after its slip in September prompted authorities to enter foreign exchange markets for the first time since 1998. Gap Between US Treasuries and Japanese Government Bonds Widening The Japanese yen fell to a rate of 147.66 per dollar, its lowest exchange rate versus the U.S. dollar in 32 years, a report has said.
Localbitcoins, Crypto.com, Other Providers Suspend Services for Russians Under EU Rules
Complying with the latest EU sanctions targeting Russia, well-known cryptocurrency platforms like Localbitcoins, Blockchain.com, and Crypto.com have started to restrict or terminate services for Russian accounts. The moves follow the adoption of new European penalties in response to Moscow’s military escalation in Ukraine.
US Lawmaker Calls on SEC to Issue Crypto Regulations - Says ‘a Formal Regulatory Process Is Needed Now’
A U.S. senator has called on the Securities and Exchange Commission (SEC) to issue crypto regulations now “through a transparent notice-and-comment regulatory process.” He stressed that “some digital assets are securities, others may be commodities, and others may subject to a completely different regulatory regime.” US Senator Calls for ‘Transparent Notice-and-Comment Regulatory Process’ to Regulating Crypto Assets U.S. Senator John Hickenlooper (D-CO) has sent a letter to the chairman of...
Report: Paypal HK Halts Hong Kong Pro-Democracy Group’s Payments Over ‘Excessive Risks’
According to a report from a pro-democracy group in Hong Kong, Paypal HK has reportedly stopped processing payments for the League of Social Democrats (LSD). The pro-democracy group said that they were “stunned” to hear the news, and they now have “one less way [to collect donations].” Paypal Reportedly Stops Servicing Hong Kong’s League of Social Democrats Just recently, the news publication Daily Wire discovered a Paypal terms of service (ToS) agreement draft that was not yet implemented.
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