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Crypto markets continue to show bearish momentum this Thursday as Bitcoin and Ethereum prices slide. BTC broke through the $19k support line, while Ethereum is below $1,300. The past week has been rough for crypto markets as BTC and ETH lost 5% and 7%, respectively. The likely culprit for the declining price is the underperformance … Read more
According to a report, some Egyptian banks recently informed clients who plan to travel abroad that they can now only withdraw $2,000 or less. The banks have also lowered the amount of foreign exchange that clients can withdraw when abroad. Egypt’s ongoing shortage of foreign exchange has forced some merchants to start demanding payment in … Read more
The non-profit that focuses on policy issues facing cryptocurrencies, Coin Center, has filed a lawsuit against the Treasury department, the secretary of the Treasury Janet Yellen, and the Office of Foreign Assets Control’s (OFAC) director Andrea Gacki. Coin Center’s court filing says that the government’s sanctioning of Tornado Cash exceeds the Treasury’s statutory authority. The … Read more
The Bnb Smart Chain commenced the blockchain’s hard fork on October 12, at block height 22,107,423, in order to add a security patch to “mitigate the cross-chain infrastructure between [the] Beacon Chain and Smart Chain.” Binance and the Bnb Smart Chain suspended withdrawals and deposits on Wednesday in order to execute the upgrade. Not too … Read more
Cryptocurrency markets continue to struggle after failing to hold support last night, causing additional bearish pressure this Wednesday. Bitcoin remains below the $20k level, trading at $19,103. Ethereum is also down below $1,300, currently at $1,294. The short-term sentiment for cryptocurrencies remains bearish this week as global markets continue to struggle this October. Key Points: … Read more
According to various reports, the Solana-based trading and lending platform Mango Markets was hacked as a malicious actor was able to siphon $117 million from the protocol. An analysis of the hack published by Certik explains that the attacker manipulated the price of the project’s native token mango (MNGO) which allowed them to borrow $117 … Read more
Harare Institute of Technology, a Zimbabwean higher learning institution, is reportedly developing a central bank digital currency (CBDC). Quinton Kanhukamwe, the institution’s vice chancellor, said the digital currency is expected to help eliminate vices such as currency manipulation and unsanctioned foreign exchange deals. Eliminating Illegal Foreign Exchange Deals A Zimbabwean tertiary learning institution, the Harare … Read more
America’s oldest bank, the Bank of New York Mellon Corporation, commonly known as BNY Mellon, has announced the financial institution can now custody cryptocurrencies. A report published by the Wall Street Journal on Tuesday, says BNY Mellon was approved by the New York State Department of Financial Services (DFS), and the bank said it was … Read more
After showing bearish momentum during yesterday’s indigenous day holiday, crypto markets continue to decline in price as BTC is struggling to hold support at $19k and ETH broke through the $1,300 level. The global cryptocurrency market cap saw a further decline of 1.38% today, with the current valuation at $921 billion. Key Points: The global … Read more
Following the United Nations Conference on Trade and Development (UNCTAD) report that the U.S. Federal Reserve should stop raising rates, Ark Invest CEO Catherine Wood has published an open letter to the U.S. central bank asking the institution to stop raising interest rates. Wood says that the “unprecedented 13-fold increase in interest rates” has not … Read more