Cryptocurrency Becomes a Point of Focus in Nigeria’s Elections

Interesting times have arrived in Nigeria, as cryptocurrency is now a focal point in the campaigns of the Nigerian national elections. Candidates are moving towards embracing cryptocurrency as a staple of the financial world of Nigeria, and are advocating for global adoption of crypto. A presidential hopeful in Nigeria, Abubakar Saraki, has lent his voice in support of the cryptocurrency industry. Saraki claims that cryptocurrency has created a lot of opportunities for youth in the country, which has the highest population in Africa. He is, however, of the opinion that…

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Resurgence in Major Cryptocurrencies as Cardano’s ADA Leads With a 25% Spike

After a few weeks of continuous decline, major cryptocurrencies saw a revival as the crypto market added about 4.4% to overall capitalization in the past 24 hours. The king coin, Bitcoin, showed signs of bottoming out, and the traditional market showed strength at the start of this week. After about nine weeks of losses, Bitcoin regained the $31,000 level amid a relief rally in the Asian markets in the early hours of Monday. Technical data suggested that the asset may have bottomed out between the $29,000 to $30,000 range.   The biggest gainer…

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Shiba Inu Community Shocked as Founder Disappears From Social Media Without Notice

Monday was a surprising day for all Shiba Inu followers as the founder of the popular dog-themed memecoin, Ryoshi, deleted all his tweets and posts. Nobody knew what prompted this action as the Shiba Inu community was left wondering with different speculations. Ryoshi, the pseudonymous founder of Shiba Inu, removed all Shiba Inu-related blogs, including the original version of “All Hail the Shiba.” He also removed all four SHIB blogs from Medium as the page now displays an error message, “410, User deactivated or deleted their account.” Ryoshi’s disappearance has…

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Here are 3 altcoins that could surge once Bitcoin flips $35K to support

Bitcoin (BTC) and the wider cryptocurrency market are taking a breather after the rally on May 31. Meanwhile, most altcoins remain severely oversold, with most between 70% and 90% below their all-time highs.  Total altcoin index capitalization What’s clear is that fear is everywhere and blood is in the water. Risk-on markets worldwide are suffering, but it is exactly these kinds of conditions that create opportunities where professional money accumulates and adds to positions. Let’s take a look at three altcoins that could be positioned for a rebound if the…

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NY Fed president urges colleagues to prepare for coming digital payment transformation

Get ready for a fundamental change in money and payments, John Williams, president and CEO of the Federal Reserve Bank of New York, told central bank officials, academics and financial industry leaders from around the world on Wednesday. Williams delivered the opening remarks at an invitation-only workshop on monetary policy implementation co-hosted by the New York Fed and Columbia University. The central banker dismissed much of the digital asset space with a single-sentence observation that not all cryptocurrencies are backed by non-crypto assets. Central bank digital currencies (CBDCs) and stablecoins…

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Digital Asset Tokenization Trial Begins in Singapore

Singapore has begun to implement a digital asset tokenization trial project that will help to explore all the possible use cases of Blockchain technology in the local finance system of Singapore. As well, the project aims to explore the possibility of making the city-state a major center for decentralized finance. Several exchanges have stopped operations in Singapore as a result of the increase in regulatory pressure. While some are trying to comply, operation license approval has been very slow. Bloomberg, however, reported that Singapore has kickstarted digital asset tokenization projects,…

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DeFi protocols launch stablecoins to lure new users and liquidity, but does it work?

Stablecoin projects have been thrust into the limelight over the past month as the popularity of algorithmic stablecoins and the collapse of the Terra project put a spotlight on the important role dollar-pegged assets play in the crypto market. In response to the void left by UST, multiple protocols have released new stablecoin projects in an effort to attract new users and capture liquidity. Generally speaking, the DeFi sector is full of gimmicks that are designed to entice user participation and it’s possible that the recent stablecoin launch programs are…

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Former product manager at OpenSea charged with insider trading

On June 1, United States prosecutors in Manhattan charged Nathaniel Chastain, 31, with insider trading. Chastain was a former product manager at OpenSea, the largest nonfungible token (NFT) marketplace. This will be the first case of its kind regarding digital assets and traditional criminal investigations.  Former employee of NFT marketplace charged in first ever digital asset insider trading schemehttps://t.co/Q8C8btS743 — US Attorney SDNY (@SDNYnews) June 1, 2022 Prosecutors claim that Chastain bought 45 NFTs through anonymous hot wallets and anonymous accounts on OpenSea and then sold them for a profit…

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Canadians buy the dip as Purpose Bitcoin ETF holdings reach new highs

Despite May’s price correction, which took Bitcoin (BTC) as low as $23,800, institutional investors seem unwilling to lose confidence in the cryptocurrency. The Purpose Bitcoin ETF, launched in February 2021, has been seeing a consistent inflow over the last five trading days. The fund’s holdings have increased to 43,701.7 BTC as of May 31, according to Glassnode data reported by Jan Wustenfeld. That’s the highest level on record. The Canadian #Bitcoin Purpose spot ETF has seen persistent inflows over the last 5 trading days. Wed: 752 BTCThu: 2.06k BTCFri: 1.82k…

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Prada launches new fashion NFT, P2E games witness growth in India

Following its initial foray into the nonfungible token (NFT) space with the Adidas for Prada re-source project in partnership with digital artist Zach Lieberman and SuperRare, iconic fashion brand Prada has now announced its first independent NFT collection accompanying the Prada Timecapsule. An online event hosted on the first Thursday of every month, Prada Timecapsule has, since December 2019, opened up exclusive access to clothing items on its website for 24 hours. Drop #30 in this series will be coupled with an NFT. According to Prada, the asset’s design will…

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