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

Spot Ethereum ETF Decision Looms as SEC's Deadline Draws Near

Ethereum Takes the Lead as Institutional Capital Shifts as per Bybit Report

While individual users are much more positive on bitcoin, a recent analysis from Bybit research indicated that institutions are over-allocating their capital to ethereum (ETH). According to Bybit, ether is now the one asset that institutions own the most of, and this might be due to an expected price increase

February 27, 2024 2 mins read

Ethereum Price Surge Linked to Anticipation of Dencun Upgrade: Grayscale

The impending Dencun upgrade, which will boost throughput and decrease the cost of certain network transactions, may have contributed to Ethereum’s recent price increase, according to asset manager Grayscale Investments. However, many market watchers are relating the rise in prices to optimism surrounding the potential approval of a spot ether

February 25, 2024 1 min read

U.S Court Rejects Kraken's Request to Dismiss SEC Lawsuit

Crypto Exchange Kraken Files Motion to Dismiss U.S SEC Lawsuit

On Thursday, Kraken filed a motion to dismiss the case, claiming that the U.S SEC had not charged fraud and had instead stretched the meaning of a contract in its lawsuit. With the argument that cryptocurrencies—or at least those included in the SEC’s complaint—should be classified as commodities rather than

February 23, 2024 2 mins read

Ethereum Price Hovers Around $3,000 Mark, Bulls Strive for Breakout

Since Bitcoin ETFs were introduced in January, the price of Ethereum, the second-largest cryptocurrency, has been in the focus. With numerous applications already filed with the SEC, investors think Ethereum’s chances of acquiring a spot ETF are strong. Coinbase has backed Grayscale’s proposal to convert its existing Ethereum Trust product

February 22, 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 Blocks Crypto Exchanges Amid Regulatory Uncertainty

The activities of prominent cryptocurrency exchanges, such as Binance, OctaFX, and Coinbase, have been disrupted by Nigeria. Particularly, this step follows the Central Bank of Nigeria’s recent decision to allow cryptocurrency transactions, indicating a very uncertain regulatory environment for digital assets in the nation. Meanwhile, the Nigerian government has ordered

February 22, 2024 1 min read

Worldcoin (WLD) Soars 86.94% in a Week Amid Sora AI Speculation

Worldcoin (WLD) Soars 86% in a Week Amid Sora AI Speculation

Just two days ago, Spot On Chain revealed that Worldcoin (WLD) had a significant 20% increase in price, which attracted investors and resulted in large gains for an unnamed whale trader, all while AI was the talk of the town. This whale moved 2.09 million WLD tokens, worth $5.82 million,

February 17, 2024 2 mins read

Celsius Network Plans to Repay Creditors via PayPal's Hyperwallet

Defunct Crypto Lender Celsius Distributes $2B in Crypto to Creditors

Most qualified creditors have already received their liquid crypto payments via PayPal and Coinbase, the two distribution agents of the defunct crypto lender Celsius, as per the announcement. The legal team representing Celsius, Kirkland & Ellis, recently updated the court on the payouts to creditors as stated in the restructuring

February 17, 2024 1 min read

Solana Faces Brief Correction as Bullish Momentum Starts Fading

There has been a noticeable slowdown in the price of Solana. In contrast to other altcoins in the market, Solana’s progress has faced tough resistance around the $120 price mark, making it a tough terrain. One possible explanation for this standstill is that the network’s operational problems have been more

February 16, 2024 2 mins read

Stablecoins Boost Dollar’s Global Status, says Federal Reserve Governor

According to Federal Reserve governor Christopher Waller, the dollar’s position as a worldwide reserve currency may be being solidified by the widespread use of stablecoins denominated in U.S dollars in the decentralized finance (DeFi) space. Waller said at a central banking-focused conference on February 15 that the U.S. dollar is

February 16, 2024 2 mins read

U.S SEC Faces Backlash as DEBT Box Challenges Case Dismissal

The U.S Securities and Exchange Commission moved last month to dismiss DEBT Box’s lawsuit after the agency confessed making false claims in court. DEBT Box requested the judge to reject this motion. Last year, the SEC filed a lawsuit against Digital Licensing Inc., which operates under the name DEBT Box,

February 15, 2024 2 mins read