Modibbo R. Hamman Tukur, the Director of the Nigerian Financial Intelligence Unit (NFIU), has announced that, as of March 1, government employees in Nigeria would no longer be able to withdraw cash from government accounts. According to reports, the new law applies to officials at all levels of government and
January 9, 2023 1 min read
Jack Ma, co-founder, and CEO of Alibaba, is stepping down as chairman of Ant Group, a Chinese financial technology behemoth. The billionaire’s exit from the fintech behemoth was approved by a vote of the company’s shareholders, according to Reuters. Moreover, a $37 billion IPO by Ant Group in Hong Kong
January 8, 2023 1 min read
The Ferrari racing division, known as Scuderia Ferrari, has severed ties with its cryptocurrency sponsor, joining a growing number of Formula One racing teams doing so. Ferrari lost $55 million after terminating its multi-year collaboration arrangements with Velas Blockchain and chip manufacturing giant Snapdragon in preparation for the 2023 season.
January 8, 2023 2 mins read
With the help of a $3 million grant, DeLabs, the company behind the popular Solana NFT collections DeGods and y00ts, migrated y00ts to the Ethereum sidechain Polygon. Frank (aka Rohun Vora), the company’s founder, said in a Discord post that the money will be used for recruiting and the establishment
January 7, 2023 1 min read
In light of the “uncertainty” between Juno and its partner, the cryptocurrency business urged its customers to move their funds to self-custody wallets or liquidate them for fiat money. To address the problems, the corporation will bring in a new partner. Juno recently tweeted that its custody partner has been
January 6, 2023 2 mins read
Digital Currency Group (DCG), Genesis Global’s parent business, has chosen to shut down its wealth section hours after word of the layoffs spread. Genesis has been experiencing significant liquidity difficulty since the FTX crash, and this is the latest hint of concern. A spokesman for Digital Currency Group (DCG) stated
January 6, 2023 2 mins read
While FTX was in bankruptcy proceedings in Delaware, the U.S. Department of Justice announced that it had seized $450 million worth of Robinhood stock. To acquire ownership in the publicly listed Robinhood platform. Former FTX CEO Sam Bankman-Fried and FTX co-founder Gary Wang launched a holding company named Emergent in
January 5, 2023 1 min read
An agreement has been reached between the New York State Department of Financial Services and Coinbase, a publicly listed cryptocurrency exchange based in the United States, for the payment of a fine of $50 million. The exchange was found to be in breach of anti-money-laundering laws. When it was discovered
January 5, 2023 1 min read
The governor of Morocco’s central bank, also known as Bank Al-Maghrib (BAM), Abdellatif Jouahiri, has said that the country’s proposed bill on cryptocurrency is complete and would soon be given to interested parties. Jouahiri, purportedly speaking at a news conference. Stressed that the proposed law’s goal is to safeguard investors
January 3, 2023 1 min read
SushiSwap, a decentralized finance (DeFi) platform built on Ethereum, has decided to disable both its lending mechanism, Kashi, and its token launchpad, Miso. In contrast to centralized exchanges like Coinbase, SushiSwap was founded in 2020 and enables clients to swap, lend, and borrow cryptocurrencies. Using their own external wallets like
January 3, 2023 1 min read
