Articles by Industry News

Hong Kong’s Regulatory Ambition Draws Major Crypto Exchanges for Licensing
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Hong Kong’s Regulatory Ambition Draws Major Crypto Exchanges for Licensing

In a significant development for the cryptocurrency industry, 24 leading crypto exchanges, including well-known entities like OKX, Bybit, and Crypto.com, have applied for operational licenses in Hong Kong. This move aligns with the city’s ambition to establish itself as a global cryptocurrency hub, offering retail trading services under a regulated framework. The rush to meet...

Binance Executives Detained in Nigeria Amid Cryptocurrency Clampdown
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Binance Executives Detained in Nigeria Amid Cryptocurrency Clampdown

In a significant move by Nigerian authorities, two senior executives from the global cryptocurrency exchange Binance have been detained in Nigeria. This action comes as part of a broader crackdown on cryptocurrency trading platforms, following the country’s efforts to control speculation on its currency, the naira. The detentions occurred after the executives traveled to Nigeria...

Over $100mn in Crypto Linked to Myanmar Scam Operations
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Over $100mn in Crypto Linked to Myanmar Scam Operations

In a striking revelation, blockchain analytics firm Chainalysis and the US-based International Justice Mission have uncovered over $100 million in cryptocurrency payments tied to a vast scamming operation based in Myanmar. The investigation focused on a single company within the KK Park compound in eastern Myanmar, implicated in the notorious “pig butchering” scams, where perpetrators...

Lisk and Indonesian Ministry Join Forces to Enhance Web3 Startup Ecosystem
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Lisk and Indonesian Ministry Join Forces to Enhance Web3 Startup Ecosystem

In a significant move to bolster the Web3 startup landscape in Indonesia, Lisk, a notable layer-2 blockchain platform, has forged a strategic partnership with the Directorate General of Informatics Applications (DGIA) of the Indonesian Ministry of Communications & Informatics Technology. Announced on February 27, this collaboration is set to invigorate the local Web3 ecosystem by...

Nigeria Enforces Crypto Exchange Ban Amid Naira Decline
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Nigeria Enforces Crypto Exchange Ban Amid Naira Decline

Nigeria has initiated a blockade on several leading cryptocurrency exchanges, including Binance, Coinbase, and Kraken, in an effort spearheaded by the Nigerian Communications Commission (NCC). This drastic measure aims to curb currency speculation and stabilize the rapidly depreciating naira, which has hit record lows against the dollar. The telecoms regulator’s directive to restrict access to...

Tether Treasury’s Bold Move: Injecting 1 Billion USDT to Boost Liquidity
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Tether Treasury’s Bold Move: Injecting 1 Billion USDT to Boost Liquidity

Tether Treasury has announced the injection of 1 billion USDT tokens into the economy. This substantial increase in USDT supply occurs as Bitcoin experiences price fluctuations, with its value oscillating between $51,000 and $53,000 in recent times. Paolo Ardoino, the CEO of Tether, elucidated that the creation of the new tokens aims to “replenish inventory”...

Decentralized Crypto Exchange FixedFloat Suffers $26 Million Hack
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Decentralized Crypto Exchange FixedFloat Suffers $26 Million Hack

FixedFloat, a decentralized and non-KYC (Know Your Customer) cryptocurrency exchange, has fallen victim to a significant security breach, resulting in a loss of over $26 million. The breach involved the theft of 409 Bitcoin (BTC) and 1,728 Ethereum (ETH), marking a substantial financial setback for the exchange. The hacking incident initially came to light through...

Ethiopia Embarks on $250 Million Bitcoin Mining and AI Tech Venture
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Ethiopia Embarks on $250 Million Bitcoin Mining and AI Tech Venture

Ethiopia is set to revolutionize its technological and economic landscape with a $250 million investment in a Bitcoin mining and AI data center, spearheaded by the Russian bitcoin mining company, BitCluster. This venture, dubbed Project Mano, marks a significant leap towards incorporating blockchain and artificial intelligence technologies into Ethiopia’s economy, utilizing the nation’s abundant renewable...

Federal Reserve’s CBDC Discussions Intensify Amid Cryptocurrency Surge
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Federal Reserve’s CBDC Discussions Intensify Amid Cryptocurrency Surge

Recent leaks from a closed-door meeting have unveiled that discussions about a Central Bank Digital Currency (CBDC), often referred to as the digital dollar, are advancing within the Federal Reserve. This revelation comes at a time when the cryptocurrency market, particularly Bitcoin and Ethereum, is experiencing a significant upturn, drawing renewed attention and legitimacy from...

Bitcoin Futures Open Interest Hits 26-Month High Amidst Cautious Optimism
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Bitcoin Futures Open Interest Hits 26-Month High Amidst Cautious Optimism

Bitcoin futures open interest has soared to a staggering $21 billion, marking the highest level since November 2021. Despite this notable increase, the market’s overall leverage remains relatively low, suggesting minimal risk of sudden price swings due to mass liquidations. The latest data from CoinGlass reveals that the notional open interest—or the total dollar value...