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Chinese tech giants vow to stop NFT secondary trading -state media

Chinese tech giants vow to stop NFT secondary trading -state media

Reuters Chinese tech giants including Tencent Holdings (0700.HK) and Ant Group have signed a pact to stop the secondary trading of digital collectibles and “self-regulate” their activities in the market, Chinese state media reported on Thursday. The companies were among 30 firms and institutes that have agreed to the “Digital Collectible Industry Self-Discipline Development Initiative” in which […]

Crypto’s latest meltdown leaves punters bruised and bewildered

Crypto’s latest meltdown leaves punters bruised and bewildered

Reuters For Jeremy Fong, U.S. crypto lender Celsius was an ideal place to stash his digital currency holdings – and earn some spending money from its double-digit interest rates along the way. “I was probably earning $100 a week,” at sites like Celsius, said Fong, a 29-year civil aerospace worker who lives in the central […]

‘Profit recession’ warning as markets wait for aggressive central bank moves

‘Profit recession’ warning as markets wait for aggressive central bank moves

Elliot Smith Global stock markets diverged on Tuesday after a worldwide sell-off in the previous session, as analysts assessed the longevity of the bear market and risk of recession. U.S. stock futures bounced in early premarket trade on Tuesday after the S&P 500 slid back into bear market territory the day before.  Investors are awaiting a landmark monetary […]

6 Fintech Soonicorns with African Origins

6 Fintech Soonicorns with African Origins

2021 was a blockbuster year for investment in African fintech startups, with a whopping US$1.6 billion invested across 153 deals. The figures represent two times the value of 2020 (US$800 million), and a 50% increase in transaction numbers, data from KPMG’s Pulse of Fintech H2 2021 report show. Booming funding activity on the continent in 2021 […]

The luna cryptocurrency has been resurrected after its $40 billion collapse. It’s already crashing

The luna cryptocurrency has been resurrected after its $40 billion collapse. It’s already crashing

A new version of the collapsed luna cryptocurrency is already live on major exchanges — and it’s gotten off to a bad start. Last week, supporters of the Terra blockchain project voted to revive luna but not terraUSD, a so-called “stablecoin” that plunged below its intended peg to the dollar, causing panic in the crypto market. TerraUSD, […]

Nigeria Top Retail Central Bank Digital Currency Leaderboard

Nigeria Top Retail Central Bank Digital Currency Leaderboard

PwC’s 2022 Global CBDC Index and Stablecoin Overview has ranked Nigeria at the top of the retail leaderboard, recognizing the work done by the Central Bank of Nigeria (CBN) in developing and deploying the eNaira, a digital form of the domestic currency. Launched October 2021, the eNaira is the culmination of several years of research work by the […]

FOREX: Turnover in I&E up 201% to $14.53bn in 4 months

FOREX: Turnover in I&E up 201% to $14.53bn in 4 months

By Elizabeth Adegbesan The volume of dollars traded (turnover) in the Investors and Exporters (I&E) window of the foreign exchange market rose sharply by 201.5 percent, year-on-year (YoY), to $14.53 billion in the first four months of the year (January to April 2022) from with $4.82 billion in the corresponding period of 2021. Vanguard analysis […]

Stock market investors gain N5bn on bulls return

Stock market investors gain N5bn on bulls return

By Nkiruka Nnorom    The stock market last week staged a comeback from  the rout of the previous week as investors reacted positively to MTN Nigeria’s Payment Service Bank (PSB) licence approval amid bargain hunting across stocks with attractive entry prices. Consequently, the domestic bourse traded positively in all sessions with investors gaining N5 billion […]

Bitcoin holders make N2.51tr in 2 days as crypto asset’s value rises by 0.68%

Bitcoin holders make N2.51tr in 2 days as crypto asset’s value rises by 0.68%

By Adekunle Fajana Bitcoin market value rose by 0.68 percent within two days handing investors N2.51 trillion ($6.06 billion) in the process. This followed Friday’s minting of new Bitcoin by SBI Crypto. SBI Crypto had minted the 19 millionth Bitcoin, leaving just two million Bitcoin left to be minted since the cryptocurrency was created by […]

Reps query borrowing as Committee uncovers N300bn unclaimed funds

Reps query borrowing as Committee uncovers N300bn unclaimed funds

The chairman House of Representatives ad hoc committee on unclaimed funds in commercial banks, Uyme Idem has frowned at the situation where the country goes out to borrow money to fund its budget when it has over N1 trillion hanging in banks. Idem, on Wednesday in Abuja said the committee has uncovered over N300 billion […]

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