Mohamed Faisal

A trader himself, Rossi has 7 years of experience trading in the forex market and the passion for writing has brought him to Newscrypto. He is the perfect combination of market knowledge and writing skills, making him one of the most sought-after writers on cryptocurrency.

Posts by Mohamed Faisal

Robinhood Adds USD Coin (USDC) to European Platform

More than 25 cryptocurrencies are now available on Robinhood’s platform, thanks to the recent addition of Circle issued USD Coin (USDC) by Robinhood’s European division. Plus, a program allowing USDC holders to receive incentives of up to 10% has been launched by the crypto exchange. In addition, today’s pre-market session

March 14, 2024 1 min read

OKX Hit by API Malfunction, Users Report Fluctuating Balances

OKX Secures MPI License Approval from Singapore’s MAS

A huge step forward for the crypto exchange OKX, has been revealed with the announcement that the Monetary Authority of Singapore (MAS) has approved the exchange in principle for a major payment institution (MPI) license. This clearance further establishes OKX as a leading cryptocurrency exchange in Singapore and adds it

March 13, 2024 2 mins read

BlackRock's Bitcoin ETF Dominates with Substantial Corporate Investors

VanEck Bitcoin ETF Sees $200 Million Influx After Fee Waiver Decision

After deciding to eliminate fees for the first $1.5 billion in assets until March of next year, the VanEck Bitcoin exchange-traded fund (ETF) saw an influx of investments reaching $200 million. Rising investor appetite for Bitcoin exposure is fueling fierce competition in the crypto ETF industry, which is why this

March 13, 2024 1 min read

Stronghold Digital Mining Mulls Company Sale for Shareholder Value Boost

Bitcoin Mining Revenue Peaks Ahead of Halving as BTC Price Soars

With the value of Bitcoin continuing to soar over the weekend, mining revenue for BTC reached an all-time high. On March 9, the seven-day moving average of miner profits reached $68.28 million, according to statistics from The Block. This surpassed the previous record of $67.15 million, set in May 2021.

March 12, 2024 1 min read

U.S President Proposes 30% Tax on Crypto Mining Power in 2025 Budget

In his proposed budget for the year 2025, Joe Biden, the president of the United States, has brought back the concept of a 30% tax on the power used by cryptocurrency miners. As stated in the U.S. Department of the Treasury paper “General Explanations of the Administration’s Fiscal Year 2025

March 12, 2024 2 mins read

Cathie Wood’s ARK Invest Sells Almost $150M Worth of Coinbase Shares

In the week ending March 8, Cathie Wood led ARK Invest sold more than 580,000 shares of Coinbase (COIN), a cryptocurrency exchange, for a total of $149.85 million, as the stock closed at $256.62 on Friday. Three of ARK’s exchange-traded funds (ETFs)—Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation

March 11, 2024 1 min read

Cardano Foundation Joins Forces with Dubai Police for Blockchain Solutions

With its strategic alliance with the Dubai Police for its customized blockchain solutions, the Cardano Foundation is well on its way to becoming a Middle Eastern crime fighting front. The Dubai World Police Summit, which recently came to an end, was the venue for the Police to unveil a data

March 11, 2024 2 mins read

Crackdowns expose global crypto scams in Vietnam and Hong Kong

Crypto Scams Soar: FBI Reports $3.94 Billion Losses in 2023

U.S. investment losses in 2023 were mostly attributable to crypto-related investment fraud, according to the Federal Bureau of Investigation (FBI). Investment losses associated with cryptocurrency jumped 53% from $2.57 billion in 2022 to about $3.94 billion in 2023, according to a new report from the FBI. At the same time,

March 9, 2024 1 min read

Grayscale Names Peter Mintzberg CEO Amid Bitcoin ETF Outflows

Grayscale Launches Dynamic Income Fund for Multi-Asset Staking

Grayscale Investments, an asset management business, has launched a new staking fund in addition to its spot Bitcoin ETF. The Grayscale Dynamic Income Fund (GDIF) is a recently established cryptocurrency staking fund that was detailed in a post on twitter. An announcement from Grayscale states that this is their first

March 6, 2024 1 min 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.

Nigerian Government Slaps $10 Billion Fine on Binance

Binance, a cryptocurrency exchange, has been fined $10 billion by the Nigerian government for making money via “illegal transactions,” according to Bayo Onanuga, a special advisor to President Bola Tinubu. In a Friday interview with the BBC, Onanuga revealed the monetary fine. In recent months, the government’s position on the

March 1, 2024 1 min read