Month: June 2024

Ghana Central Bank Partners With Singapore Regulator to Demonstrate Use of Digital Credentials in Global Trade

The Ghanaian central bank recently collaborated with the Monetary Authority of Singapore (MAS) to demonstrate the use of digital credentials in international trade. The second phase of Project DESFT culminated in the execution of cross-border trade between the West African nation and Singapore in April 2024. Ghana’s CBDC to Streamline Cross-Border Trade The Bank of […] Source CryptoX Portal

Nigeria Drops Tax Charges Against Binance Execs Tigran Gambaryan and Nadeem Anjarwalla: Family Spokesperson

A money laundering trial is still scheduled with Gambaryan and Nadeem Anjarwalla remaining on that case. The next hearing in this case is scheduled for June 19th “where the application for an order for the enforcement of fundamental rights will be heard,” the statement said. The trial is due to resume on June 20th. Gambaryan is still detained at Kuje prison. Source

BEER Coin Fizzles 70% In Alleged Rug Pull

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The Solana blockchain has revealed a sobering story, adding to the turbulence in the bubbly world of memecoins, such as BEER. The coin rose to prominence in recent weeks, experienced a dramatic price swing, and raising concerns about the inherent volatility and risks associated with these internet-driven tokens. Related Reading Whales And Rug Pulls: A Recipe For Disaster BEER’s wild ride began with a classic memecoin scenario: a surge in popularity fueled by online hype and community buzz. However, this exuberance masked a lurking danger – the outsized influence of…

South African Retailer Accepting BTC Sees Significant Increase in Monthly Crypto Transactions

The South African retail giant, Pick n Pay, has reported a significant increase in the value of monthly cryptocurrency payments, rising from approximately $1,350 to $54,000. The regions of Gauteng, KwaZulu-Natal, and the Western Cape in South Africa account for the lion’s share of Pick n Pay’s crypto transactions. Retailer Sees More Crypto Transactions in […] Source CryptoX Portal

Bitcoin lags behind stocks and bonds in Q2 2024

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Analysts have flagged that Bitcoin has failed to deliver in the second quarter of 2024, falling behind stocks and bonds in terms of performance. According to Bloomberg, Bitcoin has underperformed compared to global equities, fixed income, and commodities this quarter. The flagship cryptocurrency has lost approximately 5% since the start of April through mid-June.  After hitting a high of $73,798 in March, attempts to rally back to the position have failed to materialize. In the previous quarter, Bitcoin had soared 67% in the three months through March. Massively surpassing indexes…

Cardano and MultiversX Join Web3 Innovation Initiative in Geneva with Launch of Lightningbox

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Blockchain services provider STORM Partners made a major announcement during the Web3Fest, along with Cardano (ADA), MultiversX, and other major projects in the crypto space. During the event in Switzerland’s “Crypto Valley,” the company unveiled “Lightningbox,” a new Web3 Sandbox, and relocated its headquarters from Montreux to Geneva.  The initiative aims to enable large enterprises in Europe to harness the potential of blockchain technology and lead their digital transformation efforts. STORM Partners Joins Cardano (ADA) To Accelerate Blockchain Adoption The Lightningbox initiative seeks to facilitate the widespread adoption of blockchain…