Day: May 7, 2023

Nigerian Payments Provider Nomba Secures $30 Million in Pre-Series B Funding Round – Africa Bitcoin News

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The Nigerian payments startup, Nomba, is reported to have raised $30 million via a pre-Series B that was led by Base10 Partners. The new solution is expected to help the startup operate more efficiently and deliver “excellent customer experiences.” Plugging Gaps in Payment Processes Nomba, a Nigerian payments startup, has raised a US$30 million pre-Series B funding round. According to a Disrupt Africa report, the startup’s oversubscribed equity round was led by San Francisco-based Base10 Partners. Helios Digital Ventures, Shopify, Partech, and Khosla Ventures also participated in the round. As…

Binance Resumes Bitcoin Withdrawals After Network Congestion Caused Suspension

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Binance has resumed Bitcoin withdrawals on its trading platform.  The exchange suspended withdrawals earlier today, citing congestion in the Bitcoin network.  Binance’s Bitcoin wallets have seen outflows of more than 157,000 BTC over the past 24 hours.  Binance has resumed Bitcoin withdrawals on its platform almost two hours after the exchange suspended BTC withdrawals for its customers. The world’s largest crypto exchange cited congestion in the Bitcoin network earlier today as it paused Bitcoin withdrawals.  Binance Cold Wallets Sees Outflow Of Over 157,000 BTC Binance took to Twitter earlier today…

Crypto whale is down $541,000 as PEPE bulls falter

Lookonchain data shows that a crypto whale who had bought pepe coin (PEPE) worth $2.46m two days ago is down $541k as buyers struggle to sustain the price of the meme coin. Whale scoops PEPE Lookonchain, a web3 data analysis tool, shared information regarding the crypto whale’s acquisition of PEPE, demonstrating the level of fear of missing out (FOMO) and how traders are willing to bet big on the meme coin. According to the data, on May 5, a whale bought 962.3b worth $2.36m distributed in 70 WBTC, valued at…

Louisiana Senator Compares Modern Banks to ‘Sophisticated Ponzi Schemes’ – Economics Bitcoin News

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Louisiana Republican senator John Kennedy recently stated in an interview published on Wednesday that the U.S. Federal Reserve may need to increase the federal funds rate to 8-10% to address the country’s inflationary pressures. Kennedy’s remarks come after he criticized the Biden administration in mid-March for bailing out Silicon Valley Bank and Signature Bank, emphasizing that the decision to make all depositors whole “was a bail out,” regardless of what it was called. Senator John Kennedy: ‘Powell’s Gonna Have to Raise Rates Much Higher Than He Normally’ During a recent…

Bitcoin miner profitability rises 2X in 7 weeks despite network congestion

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On-chain data on May 7 shows that the profitability of bitcoin (BTC) miners is on the rise. Bitcoin miner profitability rises 2X BitInfoCharts reveals that for every TH/s of hash rate, which is the computing power funneled to the Bitcoin network, a miner earns $0.0988 daily. Bitcoin mining profitability chart: BitInfoCharts The spike in miner profitability means gear operators are earning revenue at the fastest pace in three months. It should also be noted that the average miner…

Binance re-opens bitcoin withdrawals after brief suspension, blames ‘severe network congestion’

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Binance, the world’s largest cryptocurrency exchange, has re-opened bitcoin (BTC) withdrawals after a 1-hour suspension, the latest data on May 7 shows. Binance halts BTC withdrawals Binance said they were halting withdrawals on the Bitcoin network due to what they describe as “severe congestion”. We’ve temporarily closed $BTC withdrawals as the #Bitcoin network is experiencing a congestion issue. Our team is currently working on a fix until the network is stabilized and will reopen $BTC withdrawals…

State of US’ crypto regulations, more hacks and rug pulls as PEPE leads the meme coin charge

Following a calm week, there were more regulatory actions, especially in the United States. Meanwhile, more hacks and rug-pull spilled over from the previous week. The buzz surrounding meme coins, fueled by the success of PEPE, created an opening for malicious actors who sought to exploit investor enthusiasm. Crypto mining regulations On May 3, the Joe Biden administration resurrected the proposal to impose a 30% tax on crypto mining. It is worth noting that this bill was initially brought to public attention in March 2023 but was vehemently opposed by…

Dubai-based crypto manager kidnapped in Spain

A cryptocurrency portfolio manager for a Dubai-based company was abducted while on holiday in Malaga, Spain. The kidnappers demanded 1 million euros in cash and cryptocurrency for the victim’s release. Crypto manager kidnapped at gunpoint in Spain The victim, a Syrian national living in Hungary, was abducted while having fun with his new employees at a resort. He had previously asked one of his friends if they knew someone who could show him around the area before going on vacation.  Following this, his friend introduced him to an Albanian, with…

5 cryptocurrencies with the best upside potential in the week ahead

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Bitcoin’s (BTC) volatility has shrunk further this week and it is on track to form an inside-bar pattern on the weekly chart. Although the bulls are finding it difficult to clear the overhead hurdle in the $30,000 to $31,000 zone, a positive sign is that they have not ceded ground to the bears. It is not only cryptocurrencies, even the S&P 500 Index has been oscillating inside a range for the past few days. This indicates that markets are awaiting a trigger to start the next directional move. Crypto market…