Nigerians are paying a premium, but probably more for the U.S. dollar than for bitcoin, an analyst told CoinDesk. Source
Nigeria’s Bitcoin Premiums May Better Reflect Country’s Demand for the Dollar, Not Crypto
Month: February 2023
Japan’s Largest Pension Fund Bleeding Money as Global Economic Turmoil Seeps Deep
While the Japanese government’s pension fund, the largest in the world posted its losses, there are a number of global business outfits that are recording similar losses. As the global economy continues to fight for resilience, the world’s largest pension fund, the Japanese Government Pension Investment Fund (GPIF) has recorded another quarter of loss as unveiled today. According to a report from CNBC, the GPIF reported a 0.97% loss on its investments in the quarter that ended December 31, 2022. The loss, which has a monetary value of 1.85 trillion…
Zodia Custody Teams Up With SBI Digital Asset Holdings to Form Crypto Custodian in Japan
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Binance Invests in Crypto Exchange GOPAX Years after South Korea Exit
Binance, the world’s largest cryptocurrency exchange, has injected capital into distressed South Korean crypto exchange, GOPAX, two years after it shut down its subsidiary in the country due to low patronage. Bloomberg reports that the crypto exchange purchased a majority stake in GOPAX. At the start of the month, Finance Magnates reported that Binance was making plans to acquire GOPAX CEO Lee Jun-Haeng’s 41.2% majority shares in the crypto exchange. However, in a blogpost published on Friday, Binance only disclosed investing in GOPAX without stating the amount of injected capital.…
A Balancing Act of Growth and Cost – Bitcoin News
Ethereum gas fees have increased 13.71% in the last two weeks, with the average fee rising from $4.52 per transaction to $5.14 per transfer on Feb. 3, 2023. Despite ethereum’s price seeing significant growth this year, its network’s gas fees have also seen a similar increase. As the demand for Ethereum’s capabilities continues to soar, it remains to be seen if these rising fees will ultimately hinder its growth. Ethereum Gas Fees Continue to Increase With a value of $1,701 per coin reached on Thursday, Feb. 2, 2023, ethereum (ETH)…
US Senate Banking Committee to Hold ‘Crypto Crash’ Hearing This Month
The panel is calling the Valentine’s Day hearing “Crypto Crash: Why Financial System Safeguards are Needed for Digital Assets,” according to a hearing schedule released Friday, and its position as one of the first issues to be addressed by the lawmakers demonstrates the urgency of crypto issues in Congress. Source
$20K Bitcoin may return, says analyst as US unemployment hits 54-year low
Bitcoin (BTC) fell prior to the Feb. 3 Wall Street open as fresh United States economic data came in “hot hot hot.” BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Think again” over U.S. recession Data from Cryptox Markets Pro and TradingView followed BTC/USD as it erased gains from earlier in the day to center on $23,000 support. The pair reacted negatively to U.S. unemployment data for January, which beat expectations so considerably that overall jobless figures fell to their lowest since 1969. Non-farm payrolls (NFP) data likewise outperformed, while average…
Bill Gates Views Musk Agenda to ‘Put People on Mars’ as Imprudent Way to Spend Money
Bill Gates recently said Elon Musk looking to colonize Mars does not paint him in the best philanthropic light. Microsoft (NASDAQ: MSFT) founder Bill Gates recently questioned the Mars colonization quest spearheaded by Tesla (NASDAQ: TSLA) CEO Elon Musk. In a media session, Gates opined that Musk’s long-held ambition of colonizing Mars is not a good use of money. According to the Microsoft co-founder and former CEO, the Mars funds would better serve humanity by facilitating vaccine development. Gates also suggested that he does not consider his fellow billionaire a good philanthropist, given his current priorities.…
Russia’s Sberbank plans to launch DeFi platform on Ethereum
Russia’s largest bank, Sberbank, is moving forward with the plan to launch its decentralized finance (DeFi) platform, preparing to trial the product in a few months. Sberbank expects to launch open trials of its DeFi platform by May 2023, Sber’s Blockchain Lab product director Konstantin Klimenko announced, the local news agency Interfax reported on Feb. 3. Currently being tested in private beta, Sberbank’s upcoming DeFi platform will be fully open by the end of April, enabling users to conduct the first commercial transactions, Klimenko said. The executive noted that the…
Russia’s Sberbank plans to launch DeFi platform on Ethereum
Russia’s largest bank Sberbank is moving forward with the plan to launch its decentralized finance (DeFi) platform, preparing to trial the product in a few months. Sberbank expects to launch open trials of its DeFi platform by May 2023, Sber’s Blockchain Lab product director Konstantin Klimenko announced, the local news agency Interfax reported on Feb. 3. Currently being tested in private beta, Sberbank’s upcoming DeFi platform will be fully open by the end of April, enabling users to conduct the first commercial transactions, Klimenko said. The exec noted that the…