Day: December 20, 2022

Sango Coin listing postponed by Central African Republic

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The Central African Republic has announced it will delay the listing of cryptocurrency, Sango Coin, on crypto exchanges due to current market conditions and marketing reasons. The update was revealed in Sango’s Telegram group.  Sango Coin was launched in July with the aim of raising nearly $1 billion over the next year. So far, however, only $1.66 million worth of the coin has been sold, according to the Sango website. In April of this year, the Central African Republic made Bitcoin (BTC) legal tender, becoming the first African state to do so.…

‘Mid-Term’ Holders Show Signs Of Dumping

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On-chain data shows that Bitcoin “mid-term” holders have been on the move during the past day, suggesting that they may be dumping currently. Bitcoin 3-6 Months Age Band Shows Large Spike In Spent Outputs As pointed out by an analyst in a CryptoQuant post, an increase in the spent outputs for the 3-6 months group has resulted in big moves for BTC before. The relevant indicator here is the “Spent Output Age Bands,” which tells us which age bands in the Bitcoin market are moving how many coins right now.…

Why Bitcoin Long-Term Holders Seem To Be Losing Faith In BTC

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Current market conditions hinder bullish market movements even for Bitcoin, which is arguably the king of cryptocurrencies. Recently, a crypto analyst named nino released an analysis showing that long-term Bitcoin positions are being liquidated.  As this develops, experts in the cryptocurrency market have warned that the U.S. Federal Reserve’s efforts to rein in inflation through monetary tightening are unlikely to ease any time soon, thus has the potential to impact on BTC price. Warming Up For The Crypto Winter  Nino used the Long Term Output Profit Ratio indicator. This measures…

South Korean Mobile Financial Services Platform Toss Concludes $405M Series G Funding, Looks to Expand Operations

With the conclusion of its latest funding, Toss plans to grow further its suite of services, including Toss Bank and Toss Securities.   South Korean finance super app Toss has concluded a Series G funding worth $405 million and is now reportedly worth 9.1 trillion won, or $7.1 billion. This development marks a substantial rise in company valuation from 8.5 trillion won in June last year when Toss’ operator Viva Republica raised $410 million in pre-Series G funding. Although the value of the won during June 2021’s funding exercise, at 8.5…

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Xiaomi to Reduce Workforce by 10% amid China’s Prolonged COVID Battle

The Chinese smartphone giant started to let go of some of its staff due to lower sales amid the lockdowns in China. While many companies are gradually rebounding from the adverse effects of the coronavirus pandemic, others like China Xiaomi are still battling with the COVID impact as it plans to lay off 10% of its workforce. According to the South China Morning Post, the smartphone maker has started firing employees across multiple departments, including its smartphone and internet services units. Speaking on the cut, a spokesperson said Xiaomi is…

Gate.io Bags New Operational Licenses in US, Inches Close to Launching Nationwide Services

Gate US may now offer virtual asset services in some states of the country. The United States arm of Gate.io, Gate US has received the “go-ahead” to start offering virtual asset services in some states within the country. According to the firm, this is a welcome development that brings it closer to launching its services fully, across the entire United States. Gate.io Reiterates Its Commitment to Regulatory Compliance Gate.io has always strived to be in compliance with regulatory requirements and the new approvals are a testament to that fact. According…

Staggering $3,200,000,000 in Stablecoins Exit Crypto Exchange Binance in 30 Days: Analytics Firm Glassnode

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Leading analytics firm Glassnode says billions of dollars worth of stablecoins are being withdrawn from top crypto exchange Binance. Glassnode says that Binance has witnessed $3.2 billion in combined outflows of Tether (USDT), USD Coin (USDC), Binance USD (BUSD) and Dai (DAI) in a 30-day period. Source: Glassnode/Twitter Based on Glassnode’s chart, Binance’s net outflows of dollar-pegged crypto assets this month appear to be the highest rate of stablecoin withdrawal in nearly three years. Traders and investors have been taking off crypto assets from digital asset exchanges following the high-profile…

Ep08- Uganda – Companion Guide For BBC’s “The Missing Cryptoqueen” Podcast

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The production team flew to Uganda for what was supposed to be “The Missing Cryptoqueen’s” last episode. They wanted to show how far the OneCoin scam traveled and what it did to its victims. The results are devastating. As it happened all over the world, people in Uganda couldn’t afford to lose one dollar and ended up falling for OneCoin and losing it all. Dr. Ruja Ignatova is a legend over there. And in this episode, we also get to meet people who still believe in her and the OneCoin…