Monthly Archives: February 2021

‘Cryptocurrency is not legitimate money,’ says Nigeria’s central bank governor

Nigeria’s central bank is doubling down on its anti-cryptocurrency stance. Godwin Emefiele, governor of the Central Bank of Nigeria has defended the apex bank’s decision to ban banks from servicing cryptocurrency exchanges in the country. Appearing before a joint Senate Committee on Banking, Insurance and Other Financial Institutions; ICT and Cybercrime; and Capital Market, Emefiele remarked that the CBN ban was in the best interest of Nigerians. According to a report by media outlet Punch, Emefiele while addressing the Senate committee remarked: “Cryptocurrency is not legitimate money. […]

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Tokenization of assets is not taking off, but it really should

For years, tokenization has been hyped to be one of the most interesting use cases of blockchain, but it hasn’t gained its momentum yet. For years, experts have been talking about how tokenization — the act of creating a digital representation of an asset on a distributed ledger — of a financial or real asset can unlock trillions in illiquid assets, giving retail investors access to investments with previously high minimum capital requirements thanks to fractional ownership or settle trades on a distributed ledger instantly.  But if […]

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DeFi exchange protocol DFX raises $5M in seed funding led by Polychain Capital

Polychain Capital has bet on a new DeFi exchange protocol looking to boost the adoption of stablecoins in DeFi. Veteran cryptocurrency investor Polychain Capital has joined a funding round in DFX Finance, a new decentralized finance exchange protocol optimized for non-U.S. dollar stablecoins. DFX raised more than $5 million in seed funding from Polychain and True Ventures to create a new blockchain-powered market for stablecoins and open up DeFi applications to a global audience. Announcing the news Wednesday, DFX said that other investors included industry players like […]

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Crypto on-ramp hits Opera browser following Simplex integration

Integration with payment processor Simplex means Opera browser users now have another route from fiat into crypto. Users of the Opera browser will now be able to purchase cryptocurrencies from directly within the web application following a partnership with Simplex. Founded in 2014, Simplex is an European Union-licensed fintech company that provides access to over 50 cryptocurrencies, and a principal member of the Visa network. The Opera browser was one of the first to integrate cryptocurrency usage into its core functions, supplying in-built wallets for Bitcoin (BTC), […]

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MicroStrategy purchases another $1 billion worth of Bitcoin, now owns 90,000 BTC

CEO Michael Saylor said the firm didn’t intend to slow down the rate of its Bitcoin acquisitions after buying another $1 billion worth of BTC. Business intelligence firm MicroStrategy increased its Bitcoin (BTC) holdings by 27% on Feb. 24, after purchasing an additional 19,452 coins, taking its total BTC haul to 90,531 Bitcoin. Announced on the company’s website on Wednesday, the coins were reportedly purchased for approximately $52,765 per coin, equating to an outlay of just over $1 billion. MicroStrategy Incorporated CEO Michael Saylor said the firm’s […]

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Microstrategy Buys $1 Billion More Bitcoin — Company Now Holds Over 90,000 BTC

Microstrategy has purchased an additional $1.026 billion worth of bitcoin, raising the total number of bitcoins it has accumulated to about 90,531. Its CEO explained that his company remains focused on its two corporate strategies of growing its enterprise analytics software business and “acquiring and holding bitcoin.” More Than $2 Billion Worth of Bitcoin Now in Microstrategy’s Treasury Reserves Microstrategy Inc. announced Wednesday that “it had purchased an additional approximately 19,452 bitcoins for approximately $1.026 billion in cash at an average price of approximately $52,765 per bitcoin, […]

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xSigma Passes Security Audit and Prepares to Launch Stablecoin DEX With LP Rewards

PRESS RELEASE. February 24, 2021 – xSigma, a decentralized exchange for stablecoin swaps, has announced details of its launch program. The DEX, which supports liquid swaps between stablecoin pairs, will go live on February 24, having passed a third-party security audit. Blockchain security company Hacken audited the xSigma smart contracts and found no critical errors in the code, green-lighting the Ethereum-based exchange to launch as scheduled. A second security audit is underway to give the xSigma community additional confidence in the code powering the AMM. Backed by […]

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CoinShares launches new physically-backed Ether ETP

Digital asset manager CoinShares is listing its second cryptocurrency exchange-traded product on the SIX Swiss Exchange. Major European digital asset manager CoinShares is expanding its product portfolio with a new physically-backed Ether (ETH) exchange-traded product, or ETP. Called CoinShares Physical Ethereum (ETHE), the new investment product is launching with around $75 million in assets under management. Announcing the news Wednesday, CoinShares said that each unit of ETHE is backed with 0.03 ETH at launch. The news comes shortly after CoinShares launched its first cryptocurrency ETP, CoinShares Physical […]

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3 reasons Bitcoin price is quickly recovering from its ‘severe’ 23% correction

Bitcoin recovered quickly from $44,800 to over $50,000 in under 22 hours and here are three key reasons why. The price of Bitcoin (BTC) quickly recovered from around $44,800 to over $50,000 within merely 22 hours.  Behind the rapid recovery are three major factors, including low funding rates, Square’s $170 million Bitcoin purchase, and the spot market stabilizing. Bitcoin futures funding rates substantially drop Across major futures exchanges, including Binance, Bybit and Bitfinex, the funding rate of Bitcoin has dropped to 0.01%. The Bitcoin futures funding rate […]

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Alameda Research doubles down on Maps.me, invests $40 million in Oxygen

Alameda Research is going all-in on a travel app to jumpstart DeFi adoption How much are 140 million users worth?  After a $50 million direct investment in travel app Maps.me earlier in the year, Alameda Research has announced today a $40 million investment in decentralized finance protocol Oxygen, a Solana-based lending platform that will plug into the app.  Similar to lending protocols such as Aave and Compound, “Oxygen will first offer borrow-lending services via pools, in which users will deposit their assets and leverage Serum’s on-chain infrastructure […]

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