Day: March 9, 2021

Nigeria to Pay 1.2 Cents for Each Dollar Remitted to the Country to Combat Cryptocurrency Use โ€“ Emerging Markets Bitcoin News

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The Central Bank of Nigeria (CBN) has announced a scheme that seeks to boost international remittances as well as to encourage the use of official corridors when retrieving funds. The CBNโ€™s move to incentivise recipients follows the plummeting of the countryโ€™s official remittances inflows as recipients opt for non-traditional corridors such as cryptocurrencies. Declining Remittances Under the CBNโ€™s so-called โ€œnaira for dollar scheme,โ€ recipients of international remittances will be entitled to an extra payment equivalent to 1.2 cents (5 naira) for every one U.S. dollar received. However, according to the…

Southeast Asia Gets its First Bitcoin Fund to Address Growing Institutional Demand

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The first bitcoin fund in the Southeast Asian region, the BCMG Genesis Bitcoin Fund, otherwise known as BGBF-1, recently launched to cater to accredited institutional investors.ย  Bitcoin Fund for Asian Institutional Investors According to a press release on Monday (Mar. 8, 2021), the new bitcoin fund which aims to cater to institutional demand for cryptocurrency seeks to leverage on the continuous growth of the number one crypto asset. Apart from being the first insured bitcoin fund in Southeast Asia, BGBF-1 would be regulated in Labuan, Malaysia. The fund uses an…

Bitcoin Outperforming Everything on Wall Street with 2021 Returns

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Investors see Bitcoin as a potential inflation hedge as trillions of dollars were pushed into financial institutions by central banks across the globe in an attempt to restore a coronavirus-affected economy. According to reports, the Wall Street firm Goldman Sachs took back its 2018 launched cryptocurrency trading desk and gave it a fresh start. Until the beginning of this year, when Bitcoin was experiencing a booming market that placed it at the top of the list, the famous Wall Street company did not list Bitcoin in its ranking of global…

Coinbase Valuation Rises to $90 Billion in Anticipation of Nasdaq Direct Listing

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Coinbaseโ€™s decision to go public is also an indication of the growing adoption and acceptance of cryptos by the mainstream. It is no longer news that Coinbase is going public through a direct listing on Nasdaq. Reports have now emerged that the leading crypto exchange company is now valued around $90 billion after its shares sold for $350 per unit during a Private Market auction hosted by Nasdaq last week. According to the report, the crypto exchange was first valued at around $77 billion in the previous month which is…

SPCE Stock Down 21% in Last Five Days, Further Losses for Virgin Galactic

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Virgin Galactic stock is currently at $27.81 in the pre-market trading, increasing 4.82% over its previous close of $26.53. American spaceflight companyย Virgin Galactic Holdings Incย (NYSE: SPCE) has lost more than 21% in its stock in the last five days. The spaceflight company has been declining since it delivered a non-profitable earnings result for the fourth quarter. On the 25th of February, Virgin Galactic reported an adjusted EBITDA loss of $59.5 million. The decline is an addition to the loss of $66 million delivered in the previous quarter. In Q4, the…

Crypto Exchange Gemini Is Official Partner of Oxford-Cambridge University Boat Race

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The recent partnership starts the creation of the Gemini Boat Race Bursary Scheme that offers rowing instructions as well as education to students via the Fulham Reach Boat Club. In an interesting development, crypto exchange Gemini is now the principal partner of the 2021 Oxford-Cambridge University Boat Race. The Boat Race Company Limited organizing this event made the official announcement on Monday, March 8. Thus, Gemini founders Tyler and Cameron Winklevoss shall be officially backing the 166th menโ€™s and 75th womenโ€™s events on Easter Sunday, April 4. Boat Race Company…

RSK Infrastructure Framework Launches rLogin, Decentralized Digital Identity Solution

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rLogin is already operational and integrated with several wallets, including Metamask, Nifty, Liquality, and WalletConnect. More wallet integrations are in the pipeline in the coming months. RSK Network, a multi-functional blockchain ecosystem has launched rLogin, a unified digital identity solution allowing web application developers to integrate blockchain technologies. According to a press release shared with Coinspeaker to a recent announcement, the new digital solution is part of the RSK Infrastructure Framework (RIF) suite of tools, alongside rifRIF storage, rifRIF identity, rifRIF communications amongst others. Innovation defines the emerging space of…

Earning Interest on Cryptocurrencies Is Game Changer

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If you are a quick decision-maker and canโ€™t wait for the whole month to see an interest payout from your investment, choose Nexo as your cryptocurrency savings account. It gives daily interest payments within 24 hours. Users who opt for Nexo can earn up to 12% APY on their cryptocurrency. Additionally, it offers over $100 million in insurance to protect usersโ€™ investments. Best for First-Time Buyers: Coinbase If you are new in the digital currency world and need a simpler solution for your investments, choose Coinbase. It keeps you out…

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