Do Kwon, the founder of Terraform Labs, has been charged with multiple counts of fraud, including wire fraud, securities fraud, commodities fraud, and conspiracy to defraud and manipulate markets, by federal prosecutors in the Southern District of New York. The charges were…
Digital banking is becoming increasingly popular in Nigeria as operators harness the best technological tools to address the transaction challenges faced by Nigerians. In addition, digital payment platforms have been authorized by the Central Bank of Nigeria to provide microfinance banking and…
Nigeria has experienced a cash shortage, leading to the surge in popularity of eNaria, the country's digital currency. The head of the Central Bank of Nigeria (CBN) reported a 63% increase in eNaria transactions to 22 billion naira ($47.7 million), and 13…
FTX, a bankrupt cryptocurrency exchange, is attempting to recover $460 million in allegedly misused customer funds from Modulo Capital, a venture capital firm that received a substantial investment from Alameda Research in 2022.
Alameda Research, which is FTX's sister trading firm,…
Luno, a cryptocurrency exchange, has announced that its CEO, Marcus Swanepoel, will be stepping down and taking on the role of executive chairman. The position of CEO will be filled by the head of operations as Luno's parent company, Digital Currency Group,…
Microsoft is reportedly developing a cryptocurrency wallet for its Edge browser amid a struggling crypto market. The company has been testing the built-in crypto wallet internally and plans to eventually release it to the public.
The new feature promises to simplify…
As fears grow about the scarcity of the US currency and its potential effects on the economy of East Africa, the Kenya Shilling has dropped to a new low of 129 Kenya Shillings (KES) against the US dollar. In the past year,…
Leading Nigerian fintech, Flutterwave, has revealed it has acquired an Electronic Money Issuer license and Remittance licenses from the Government of Rwanda as it continues its expansion in East Africa.
According to Flutterwave, the Electronic Money Issuer license now means it can acquire…
Signature Bank has collapsed and Flagstar Bank, a subsidiary of New York Community Bancorp, will purchase $38.4 billion worth of non-cryptocurrency-related deposits and $12.9 billion in loans.
The United States Federal Deposit Insurance Corporation (FDIC) has confirmed the agreement, and Flagstar…
As the use of digital currencies gains momentum, an increasing number of individuals are venturing into this realm. Bitcoin has gained notoriety worldwide as one such cryptocurrency that is widely used and recognized by many.
However, a significant barrier faced when handling…