Abdul

An engineering graduate who is passionate about writing and loves the very existence of crypto. Trading forex currency keeps me busy when I am not writing and analysing the crypto world.

Posts by Abdul

UK Launches Digital Securities Sandbox to Explore DLT Applications

U.S Congressman Proposes Bill to Allow Federal Tax Payments in Bitcoin

People living in the US may soon be able to use Bitcoin (BTC) and other cryptocurrencies to pay their federal taxes. It has been proposed by US Congressman Matt Gaetz that citizens of the United States be able to pay their federal income taxes using Bitcoin. Among the Bitcoin Marxists,

June 26, 2024 2 mins read

FTX’s $16 Billion Reimbursement Set to Spark Significant Market Shifts

FTX Creditors Granted Voting on Liquidation Plan by U.S Court

Bankrupt cryptocurrency exchange FTX has asked a US court to let creditors vote on the best liquidation plan, and the judge has granted their request. Despite earlier objections stating a reduction in asset payments, creditors of the collapsed exchange will vote on a liquidation plan. A liquidation plan put out

June 25, 2024 2 mins read

Can Solana (SOL) Expect a Revival Soon Midst the Uncertainty?

Solana Price Plummets Below $130 Level as Selling Pressure Continues

The CEO of Helius Labs, the development platform for Solana, Mert Mumtaz, recently provided an update that gives the Solana ecosystem cause for optimism. Without the need for layer-2 networks, Mumtaz said in an X (formerly Twitter) post that “ZK compression” is being implemented directly on the Solana network. According

June 25, 2024 1 min read

NiceHash Launches First Exclusive Firmware for Kaspa Miners, Boosting ASIC Performance

Bitcoin Sees Massive Sell-Off, Miners Liquidate BTC Worth $2 Billion

Bitcoin miners sold around $2 billion worth of cryptocurrency in June, or more than 30,000 BTC. So far this year, this is the worst monthly sell-off recorded. In addition, when miners began selling off their holdings to keep afloat after the latest Bitcoin Halving, this massive liquidation has pushed miner

June 24, 2024 2 mins read

Fidelity Amends S-1 for Spot Ethereum ETF, No Sponsor Fee Disclosure

The S-1 registration form for the spot Ethereum ETF was recently modified by financial services behemoth Fidelity Investments. Most of the potential spot Ethereum issuers are anticipated to submit these changes today, as anticipated before. The revised S-1 filing by Fidelity Investments comes as rumors about the approval of spot

June 21, 2024 2 mins read

The country's vice president, Kashim Shettima, has said that Nigeria is prepared to surpass other developed nations economically and technologically. As part of Nigeria's plan for digital transformation and leadership in Africa, Shettima revealed this on Tuesday when he inaugurated the AI Expertise Blockchain and Technology Training and Outsourcing Initiative in Dutse, the capital of Jigawa State. In collaboration with the prominent tech firm Gluwa, the AI Expertise Blockchain and Technology Training and Outsourcing Initiative seeks to provide training in artificial intelligence, blockchain, and other cutting-edge technologies to 1,000 Nigerians every year. The Vice President urged Nigerian youngsters to embrace the initiative, stating that it is critical to the country's economic future, at the initiative's debut at the Yakubu Gowon NYSC Orientation Camp, Fanisau, Dutse. According to him: “We are not merely catching up with the rest of the world; we are poised to overtake them. This initiative offers its beneficiaries the chance to become part of a global workforce, driving innovation that will shape our future”. Together with outlining the initiative's wider goals, he said that the federal government is aiming to establish a nationwide network of tech centers that would sustain Nigeria's economic development for many years to come. The Vice President expressed gratitude for the collaboration with Gluwa, saying it is in line with President Tinubu's plan to transform Nigeria's digital technology space. He praised Gluwa for empowering Aella Microfinance Bank and enabling the flow of nearly N100 billion to two million Nigerians, while also acknowledging the substantial impact of the company. Jigawa State Governor Umar Namadi highlighted the significance of the initiative in his previous speech, calling it a unique chance that is right at the young people's doorstep. According to him, the new initiative prioritizes innovation and digital technologies and is in line with Jigawa State's 12-Point Agenda as well as the federal government's Renewed Hope Agenda. The governor went on to announce the creation of a new ICT & Digital Economy Agency, stating, that they are more committed than ever to re-establish Jigawa State as a significant ICT hub in Nigeria. Shettima had earlier announced the launch of the fourth iteration of the Expanded National Micro, Small, and Medium Enterprises (MSMEs) Clinic, revealing that President Bola Tinubu had issued an executive order directing the federal government to provide N150,000 grants to each state's business owners as part of its support for MSMEs nationwide. He said that the N150,000 that the president had allocated to each MSMEs was an outright grant that did not need to be repaid. One of the federal government's initiatives to facilitate business in Nigeria is the Expanded National MSME Clinics. These are a series of business forums that are arranged throughout the nation to offer MSMEs immediate solutions to problems they face. The first, second, and third editions of the clinics were introduced earlier this year in the states of Benue, Ogun, and Ekiti, respectively. The MSMEs sub-sector, according to Shettima, is the backbone of the country's economy and has been a top priority for the Tinubu administration. They not only account for over 45% of Nigeria's GDP and 96% of all businesses in the country, but they also provide a vital lifeline for 80% of the workforce. Malam Umar Namadi, the governor of Jigawa State, had earlier expressed gratitude to the federal government for granting the state's citizens dividends of democracy via the MSME Clinics and other similar initiatives dispersed around the region. Namadi called the initiative a unique chance for operators in the state's small business sector and encouraged both current and prospective entrepreneurs to use the services offered by the clinics.

Nigeria Updates Digital Asset Policies, Launches Compliance Program

Regulators in Nigeria have updated their policies on the issuance, offering, exchange, and custody of digital assets. The SEC announced its intention to revise these important rules in a public notice. A more thorough and adaptable regulatory framework, more suited to the intricacies of digital asset markets, is the goal

June 21, 2024 2 mins read

Singapore Highlights AML Threat from Digital Payment Tokens in New Report

Providers of digital payment tokens (DPTs) pose serious threats to the integrity of the anti-money-laundering (AML) system, according to Singapore’s most recent Money Laundering National Risk Assessment (MLNRA). Not included in the 2014 report, this one’s 126 pages are packed with additional dangers. Providers of DPT services and traders of

June 21, 2024 2 mins read

MicroStrategy Adds 11,931 Bitcoins Amid $800M Convertible Notes Sale

An additional 11,931 Bitcoins, valued at an average of over $65,883 per, were bought by Michael Saylor led MicroStrategy. In an effort to boost its Bitcoin holdings, MicroStrategy announced a week before that it would be selling $800 million in convertible notes. Interest on the notes will be paid semi-annually

June 20, 2024 1 min read

Terra Luna Classic (LUNC) Community Finally Approves Tax2Gas Proposal

The proposal to integrate Tax2Gas, which eliminates the need to separate tax processing and computation, has finally been approved by the Terra Luna Classic (LUNC) community. According to StrathCole and Genuine Labs, Tax2Gas will combine the tax with gas, simplifying things for dApp developers and others. Members of the Terra

June 20, 2024 2 mins read

Bitcoin Witnesses Decline in Average Block Size and Transaction Rates

Along with a recent precipitous drop in price to about $64,100, the average block size and transaction rates of the Bitcoin network have seen a dramatic dip. The sudden decline in Bitcoin blockchain activity, as measured by the diminution in block size (the amount of transaction data included in each

June 20, 2024 1 min read