Month: April 2023

Nigeria-China Currency Swap Agreement Fails to Ease Pressure on the Naira – Africa Bitcoin News

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Nigerian economic experts have said the country’s five-year-old currency swap agreement with China has not eased the pressure against the Nigerian currency. According to one expert, implementation of the swap arrangement is being held back by the size of the trade imbalance between Nigeria and China Easing Pressure on the Naira According to experts on the Nigerian economy, the country’s five-year-old currency swap agreement with China has failed to ease the pressure on the naira. Signed between the Central Bank of Nigeria (CBN) and the People’s Bank of China (PBOC),…

Crypto holder hacked for $50,000, blames LastPass for loss

On April 15, a crypto holder took to Reddit claiming he lost $50,000 worth of cryptocurrencies following an alleged exploit on LastPass. Crypto holder lose $50,000 worth of tokens LastPass is a password management tool that makes it easier for people to save, among other sensitive data, details of their passwords, logins, and even card numbers.  The crypto holder, who runs the password management tool on his Windows 7 desktop and Samsung Galaxy smart phone, used the software to store his tokens’ private keys. Two of his wallets had not been installed…

Silk Road Hacker Sentenced to a Year in Prison for Wire Fraud – Bitcoin News

On April 14, 2023, the Department of Justice (DOJ) for the Southern District of New York revealed that the hacker responsible for the Silk Road marketplace breach had been sentenced to a year in prison for wire fraud charges. James Zhong stole more than 50,000 bitcoin from the darknet marketplace (DNM) in September 2012. DOJ attorney Damian Williams stated that Zhong had utilized a bitcoin mixing service, an international cryptocurrency exchange, and “an impressive array of technological tools to frustrate tracing efforts.” Officials Seize Bitcoin, Precious Metals, and Firm With…

Circle exec to join US Congressional committee hearing on stablecoin payments, legislation

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The United States House Committee on Financial Services a.k.a the Financial Services Committee will hold a hearing on April 19 to discuss stablecoins’ position as a means of payment and whether or not the ecosystem needs supporting legislation. The Financial Services Committee issued a memorandum to announce an upcoming hearing titled “Understanding Stablecoins’ Role in Payments and the Need for Legislation.” The hearing will be based on the information collected over the last year demanded by the Federal government. List of individuals testifying at the upcoming Financial Services Committee hearing. Source: house.gov…

Sotheby’s relaunch Glitch digital art sale, newbie gamer uncovers $49K NFT and more

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Digital art auction house Sotheby’s has altered its latest art sale significantly after receiving community feedback regarding a lack of diversity, meanwhile a novice player in Illivium: Beyond has made a staggering profit of 140,525% by finding the most elusive character in the game yet. Sotheby’s reboot Glitch Digital Art Sale after addressing diversity concerns Digital art house Sotheby’s have announced that bidding for its upcoming digital art sale “Glitch: Beyond Binary” will open on April 19.  Glitch: Beyond Binary is a reboot of last month’s “Natively Digital: Glitch-ism” auction…

G20 Finance Chiefs Agree Global Policy Responses to Crypto Are Required – Regulation Bitcoin News

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The G20 finance ministers and central bank governors have agreed that crypto regulation cannot be confined to one part of the world, said India’s finance minister. “Any action on crypto assets will have to be global,” she stressed, adding that the G20 finance chiefs’ discussion on crypto was “very substantive.” G20 Finance Chiefs on Crypto Regulation Indian Finance Minister Nirmala Sitharaman spoke about the G20’s discussion on crypto regulation Thursday during a press briefing that followed the G20 finance ministers and central bank governors meeting, held on the sidelines of…

Elon Musk reaffirms AI’s potential to destroy civilization

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While tech giants worldwide work on materializing the idea of having a generative artificial intelligence (AI) to aid humans in their daily lives, some believe the risk of the nascent technology going rogue remains imminent. Considering this possibility, Tesla and Twitter chief Elon Musk reminded people of AI’s potential to destroy civilization. On March 15, Musk’s plan to create a new AI startup surfaced after the entrepreneur reportedly assembled a team of AI researchers and engineers. However, Musk continues to highlight the destructive potential of AI — just like any…

Elon Musk reaffirms AI’s potential to destroy civilization

While tech giants across the world work on materializing the idea of having a generative artificial intelligence (AI) to aid humans in their daily lives, the risk of the nascent technology going rogue remains imminent. Considering this possibility, Tesla and Twitter chief Elon Musk reminded the people of AI’s potential to destroy civilization. On March 15, Musk’s plan of creating a new AI startup surfaced after the entrepreneur was reportedly assembling a team of AI researchers and engineers. However, Musk continues to highlight the destructive potential of AI — just…

De-Dollarization Trend Irreversible, Flight From US Dollar Sure to Accelerate, Says Russian Official – Economics Bitcoin News

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Russia’s foreign minister says a flight from the U.S. dollar “is sure to accelerate,” emphasizing that “this trend is irreversible.” The official added: “The path of sanctions is the path to nowhere. Serious countries and sober-minded politicians are drawing relevant conclusions and these conclusions are definitely in favor of terminating dependence on the West.” Russian Official on De-Dollarization Trend Accelerating Russia’s Minister of Foreign Affairs, Sergey Lavrov, said at a press conference on Friday that the shift away from using the U.S. dollar as the medium of exchange in global…

FTX victims’ lawyers struggle to serve Shaq

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The law firm representing victims affected by the FTX collapse have publicly appealed to NBA superstar Shaquille O’Neal to show “courtesy and honor” by actually accepting their legal complaint after several unsuccessful attempts. In an April 14 tweet, The Moskowitz Law Firm revealed its team have been standing outside O’Neal’s TNT studios in Atlanta “all week” to serve him on behalf of FTX investors – in relation to his previous endorsement of the now-defunct crypto exchange – however, O’Neal’s security guards have reportedly not let them in. It was emphasized…