Venture funding for African crypto startups grew 11x in 2022: Report

As the African region continues to adopt crypto and blockchain, more venture funding flowed into the continent in 2022’s first quarter compared to the first quarter of 2021, according to a new report by blockchain-investment firm Crypto Valley Venture Capital (CV VC) and Standard Bank.  The report, titled “The African Blockchain Report 2021,” shows that blockchain startups were able to raise $91 million within 2022’s first quarter. Compared to the first quarter of 2021, this year showed a 1,668% year-on-year (YoY) increase in cash inflow compared to 2021’s YoY of…

Crypto Valley Venture Capital Launches African Blockchain Early-Stage Fund

Among the 12 startups CV VC has already invested in are Leading House Africa, a startup from Nigeria that will allow land registration on the blockchain, and Mazzuma, a mobile payments platform from Ghana. According to Olaf Hannemann, co-founder and CIO of CV VC, most startups are expected to originate from South Africa, Nigeria, Kenya, Ghana and Egypt but it is open to funding projects from the entire continent. Source

Layer-2 adoption could spur the next crypto turning point

A mysterious Redditor has made a data-driven prediction that the next major phase of development in the blockchain space will be in layer-2 solutions, primarily on Ethereum. The May 22 post explains that “We’re at a turning point” where the industry is moving away from bridging between L1 blockchains towards L2’s which are “right out of the gate, more secure and decentralized than alt-L1s and are built to use sound money on a credibly neutral platform.” “L2 adoption is happening now, even if it is slow and in bursts. Behind…

Middle East Crypto Exchange Coinmena Enters the Qatari Market, Regulator Says No Institution Licenced – Featured Bitcoin News

Coinmena, the Bahrain-based cryptocurrency exchange, recently announced that residents of Qatar can now buy and sell cryptocurrencies on its platform. The cryptocurrency exchange claimed it is the first regulated digital asset exchange to open its platform to Qatari residents. Residents Can Now Connect Bank Accounts to Their Crypto Wallets The Bahrain headquartered cryptocurrency exchange, Coinmena, has become the first regulated digital asset exchange to offer its services in Qatar. According to a statement released by the exchange on May 19, Coinmena’s foray into Qatar means the country’s residents can now…

Swiss Watchmaker TAG Heuer Now Accepts Cryptocurrency in US – Bitcoin News

Luxury watch manufacturer TAG Heuer announced it’s introducing online cryptocurrency payments for customers in the United States. The Swiss company provides the new payment option through a partnership with crypto payment processor Bitpay. Tag Heuer Partners With Bitpay to Offer US Clients Bitcoin Payments Designer and maker of luxury timepieces TAG Heuer is now accepting crypto for its high-quality products. Techniques d’Avant Garde (TAG), founded over a century and a half ago by Edouard Heuer in Switzerland, said this week that clients within the U.S. will be able to purchase…

Interest in Ethereum Name Service reaching ‘critical mass’

The Ethereum Name Service is having its best month on record for new registrations, account renewals, and revenue thanks to community awareness and low gas fees. Lead developer at Ethereum Name Service (ENS) Nick Johnson tweeted on May 23 the metrics for the Web3 domain service through May so far. He noted numbers were poised to shatter existing records because they were already at all-time highs, “and there’s still a week of May left.” May is now an All Time High for every single ENS metric we track – registrations,…

Why Bitcoin Price Could Explode Above $30.6K In Near-term

Bitcoin started a fresh increase from the $28,500 support zone against the US Dollar. BTC could rally if there is a clear move above the $30,600 resistance zone. Bitcoin formed a double bottom pattern near $28,500 and climbed higher. The price is now trading above the $30,000 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $29,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a clear…

Bitmex Co-Founder Arthur Hayes Avoids Prison for Violating US Bank Secrecy Act – Regulation Bitcoin News

Bitmex co-founder Arthur Hayes is not going to prison for violating the U.S. Bank Secrecy Act. Instead, the former crypto exchange CEO has been sentenced to “six months of home detention and two years of probation.” Hayes has agreed to pay a fine of $10 million. Bitmex’s Arthur Hayes Sentenced The U.S. Department of Justice (DOJ) announced Friday that the founder and former CEO of cryptocurrency derivatives exchange Bitmex has been sentenced for violating the Bank Secrecy Act (BSA). Hayes pleaded guilty to violating the Bank Secrecy Act in February.…

Avalanche (AVAX) Shows Optimism But Is This A Price Reversal?

Avalanche (AVAX) has displayed recovery on its chart. Over the last 24 hours, the altcoin brought home 4.8% gain. Although, there has been a considerable daily gain, AVAX is trading underneath its long-standing price floor. It is difficult for investors to look at just the daily gain as a good enough reason to buy the coin at the moment. Technical for the coin hasn’t suggested strong bullishness which might suggest that AVAX could be a good buy at the time of writing. Avalanche (AVAX) has lost 8% of its market…