In the first month of 2024, Nigeria’s headline inflation rose from nearly one percent to 29.9%. However, on a year-on-year basis, the January 2024 headline inflation rate was 8.08 percentage points higher than the January 2023 rate. Many commentators identify foreign exchange shortages as the root cause of the naira’s poor performance against major currencies. […] Source
The U.S. Energy Information Administration (EIA), a statistics agency of the U.S. Energy Department, has sent letters to cryptocurrency miners requiring data related to energy consumption and configuration of their mining sites. According to one of the letters posted on social media, miners have until February 23 to report the info regarding the activities carried […] Source
A decentralized crypto exchange plans to upgrade to a new version after Ethereum’s (ETH) Dencun update rolls out in March. In a new announcement, the Uniswap Foundation, the team behind digital asset exchange Uniswap (UNI), says that the protocol’s fourth version is slated to launch sometime during Q3 of 2024., according to a shared launch roadmap. “Phase 1: Code freeze (in progress), Core code completion, testing, gas optimizations, security enhancements, and finalizing the periphery. Phase 2: Auditing and testnet comprehensive auditing by multiple audit firms and a community audit contest.…
The Financial Crimes Enforcement Network (FinCEN) has released an analysis that reports an alleged increase in the use of cryptocurrency in human trafficking cases. According to FinCEN, reports of cryptocurrency linked to these purposes grew from 336 in 2020 to 1,975 in 2021, an increase of almost 500%. FinCEN Alerts of Crypto Usage Linked to […] Source
Cryptocurrency exchanges that fail to meet South Korea’s stringent operating standards will be expelled from the crypto market, the country’s financial intelligence agency has said. The Financial Intelligence Unit said its annual work plan incorporates the insights of cryptocurrency experts serving on its advisory committees. South Korea to Deploy System for Identifying Suspicious Transactions South […] Source
Global investment giant Franklin Templeton has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a spot market Ethereum (ETH) exchange-traded fund (ETF). The investment firm, which currently reports $1.6 trillion in assets under management (AUM), was one of 11 applicants who received approval from the SEC last month to launch a spot Bitcoin (BTC) ETF. If the product is approved, the Bank of New York Mellon will be the custodian of the fund’s cash holdings, according to Franklin Templeton’s filing, which was submitted on February 12th.…
Sushi, the multi-chain decentralized exchange (dex), plans to launch a new high-speed derivatives exchange called Susa using Layer N’s scaling technology, Sushi revealed on Tuesday. The partnership aims to rival centralized exchanges by processing over 100,000 transactions per second with milliseconds of latency. Susa’s Debut on Layer N Promises New Era for Dex Platforms Sushi […] Source
South Korea’s financial authorities, led by the Korea Financial Intelligence Unit (KoFIU), are planning to implement stringent measures targeting cryptocurrency exchanges. Exchanges failing to meet the stringent standards will face expulsion from the marketplace, according to a report by the KoreaTimes. etoro: Experience a reliable, user-friendly platform trusted by millions. Stay ahead in the crypto world. Board the Crypto Train now! Authorities will expand the scope of evaluation to block the entry of unfit virtual business operators into the Korean cryptocurrency market. This proactive approach aims to maintain market integrity…
Life is not easy when you are one of the largest cryptocurrency exchanges by volume and number of clients. On the one hand, you deal with regulators in different parts of the world, and on the other, with scammers who try to impersonate your brand. Coinbase is well aware of this and has again fallen victim to a clone company with the catchy name Coinbaseie. etoro: Experience a reliable, user-friendly platform trusted by millions. Stay ahead in the crypto world. Board the Crypto Train now! The UK financial regulator FCA…
Ethereum (ETH) flew off centralized exchanges this week, potentially reducing selling pressure on the ETH market, according to the crypto analytics firm IntoTheBlock. In a new analysis, Lucas Outumuro, IntoTheBlock’s head of research, tracked Ethereum’s netflows, which measure the ETH moving in and out of centralized crypto exchanges by subtracting the amount of ETH’s withdrawals from its deposits. Outumuro notes that more than $1 billion worth of Ethereum netflows left centralized exchanges this week. ETH’s network fees, which indicate the willingness to spend and demand to use the asset, increased…