The Nigerian Securities and Exchange Commission (SEC) has recently granted two local crypto exchanges, Busha Digital Limited and Quidax, “Approval-in-Principle” to commence operations under the Accelerated Regulatory Incubation Program (ARIP). These approvals are part of the SEC’s efforts to promote innovation while ensuring investor protection within the digital asset space. The ARIP was designed to
Gains
Elon Musk, the CEO of Tesla Inc., recently faced a high-profile lawsuit with allegations of price manipulation involving Dogecoin (DOGE), a meme-based cryptocurrency. A group of Dogecoin holders filed the lawsuit in June 2022, accusing Musk and his company of using social media and public statements to inflate the token’s price artificially. The lawsuit claimed
The latest seven-day crypto chart highlighted a mixed bag of results, with most major coins experiencing a dip in value. However, amidst this downturn, one particular meme coin stood out – Popcat. While Dogecoin, Pepe, and Bonk recorded losses of 6%, 2%, and 2% respectively, Popcat defied the trend with an impressive 52% weekly gain
The US Securities and Exchange Commission has recently set its sights on various cryptocurrency platforms, with its most recent target being the NFT platform OpenSea. OpenSea’s CEO, Devin Finzer, took to social media to express his disappointment in the SEC’s actions. Finzer revealed that OpenSea had received a Wells Notice from the SEC, signaling that
The recent $234 million hack on the crypto platform WazirX has prompted the company to enter an initial 30-day moratorium as of August 28. This decision, pending approval from Singapore’s High Court for an extension, comes in light of the challenges faced by the platform following the security breach. Rival platform CoinSwitch has announced its
Devin Finzer, the CEO of OpenSea, recently made an announcement regarding receiving a Wells Notice from the US Securities and Exchange Commission (SEC). The SEC believes that the NFTs traded on OpenSea’s platform should be classified as securities. Finzer’s response to this notice was one of surprise and defiance, as he expressed shock at the
Gameplay Galaxy, a promising player in the blockchain gaming sector, has recently secured an impressive $11.17 million in a seed extension round. This round, co-led by Blockchain Capital and Merit Circle, has propelled the company’s total valuation to $71 million and total funding to $24 million. The primary focus of this funding round is to
The recent settlement between the US Securities and Exchange Commission (SEC) and crypto lending firm Abra highlights the consequences of failing to register a crypto asset product. Abra Earn, the lending product in question, was sold to US investors without complying with registration laws, leading to charges against the company and its owner, Plutus Lending
France has seen a significant increase in crypto businesses establishing their European headquarters in the country over the past decade. This rise can be attributed to favorable tax rates, a talented pool of individuals from across Europe, and a strong culture of innovation in the Web3 space. Additionally, France was quick to adopt clear regulations
The US government has responded to former FTX executive Ryan Salame’s attempt to void his guilty plea, asserting that his claims of false promises from prosecutors are unfounded. The US Attorney’s Office has stated that Salame’s allegations are “demonstrably false” and have emphasized that the charges against Salame’s partner, Michelle Bond, are separate and ongoing.