A recent Central Bank of Nigeria survey reveals that Nigerian businesses expect the naira to weaken further before strengthening in late 2024 or early 2025. This pessimism comes despite the CBN injecting millions into the forex market. The naira’s depreciation has fueled inflation, sparking protests. While most businesses are pessimistic about the naira’s immediate future,…
The Nigeria Inter-Bank Settlement System (NIBSS) has partnered with Zone, a decentralized payment infrastructure company, to improve its payment services. NIBSS will use Zone’s blockchain technology to streamline its Payment Terminal Service Aggregation (PTSA) operations. Both NIBSS and Zone believe that blockchain technology can revolutionize the financial sector and enhance regulatory oversight. NIBSS Enhances Payment…
Bitcoin reached an impressive peak of $64,853 per unit on Friday, spurred by U.S. Federal Reserve Chair Jerome Powell’s speech at Jackson Hole, where he hinted at the possibility of rate cuts in September. The cryptocurrency showed a 5.3% increase in the past day, contributing to a 5.01% rise in the overall crypto market, which…
Former Binance CEO Changpeng ‘CZ’ Zhao has been transferred from FCI Lompoc II to the RRM Long Beach halfway house in California, sparking confusion among X users who mistakenly believed he had been released. Despite the change in his location, CZ remains incarcerated. The RRM Long Beach facility, categorized as a ‘residential reentry management (RRM)…
The National Power Administration of Paraguay (ANDE) has recently detected and seized an illegal bitcoin mining operation hosting 693 miners. ANDE inspectors detected a tampered meter that failed to register all the energy consumed by the equipment connected to the power grid. The detection was carried out using SCADA systems. Paraguay Keeps Chasing Illegal Bitcoin…
The United States’ most popular independent candidate for President has officially placed his political support behind Donald Trump in the 2024 Presidential election. His endorsement places two of three leading Presidential candidates who are explicitly pro-Bitcoin on the same political team. Why RFK Has Endorsed Trump Kennedy said that the Trump campaign had offered him…
Hamster Kombat, the Telegram tap-to-earn gaming sensation, is facing legal woes in Russia stemming from conflicts between its alleged creator, Eduard Gurinovich, and one of its early investors, Ad.ru, an IT holding company. According to reports from Lenta.ru, a popular Russian online newspaper, Gurinovich created Hamster Kombat using a company named Arenum, of which Ad.ru…
The Dencun upgrade in March 2024 was a significant milestone for Ethereum, but it also brought about unforeseen challenges, particularly for Layer 2 networks. Christine Kim, a researcher at Galaxy, highlighted that this upgrade inadvertently led to an increase in transaction failures across these networks. Ethereum’s Layer 2 Networks Face Challenges Kim’s August 21 analysis,…
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The business week ends with high levels of volatility as bitcoin’s price soared to almost $64,000 for the first time since the start of the month. This rally, which was mostly mimicked by the altcoins, was possibly fueled by the latest developments on the US front and its central bank in particular. CryptoPotato reported earlier…