Author: Temitope Akintade

Over $1 billion users’ funds is currently missing on FTX crypto exchange . According to Reuters, two insider with the knowledge of the exchange’s operations, affirm that founder Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to Bankman-Fried’s trading company Alameda Research, FTX has reportedly filed for bankruptcy after a reported LOI acquisition with Binance fell through. The latter later backed out of the deal. A background of the drama  Recall that Binance CEO Changpeng Zhao confirmed Sunday evening that the company had decided to liquidate all of its FTX (FTT) tokens due to “recent revelations.” This…

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The United States Department of Justice (DOJ) announced on Monday the confiscation of a mouthwatering $3.36 billion worth of Bitcoin connected to the Silk Road dark web fraud. The US DOJ seized this huge amount of Bitcoin from a man who had illegally acquired 50,676 bitcoin on the Silk Road dark web marketplace over ten years ago. According to a press statement by DOJ on November 7 :The accused, James Zhong of Gainesville, Georgia pleaded guilty on November 4 to committing wire fraud and unlawfully obtaining the cryptocurrency in September 2012. Zhong is said to have deployed sophisticated measures to…

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NFTs are gearing up to revolutionise various industries by allowing true digital ownership. With the increasing number of NFT traders and investors, new NFT collections are popping up every other day. However, not all NFT projects are legitimate. Newbies especially should take caution and learn how to spot and avoid scam projects. Just like the popular crypto parlance – ‘Do Your Own Research(DYOR). This is where the power of research using NFT analytical tools comes in. How to spot and analyze NFTs NFT analytical tools make it easy for traders to make good NFT investments by providing key performance metrics…

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According to tech blogger Jane Manchun Wong in the late hours of Monday, Jack Dorsey founded social media giant Twitter is now working on a wallet prototype that will make it possible to deposit and withdraw cryptocurrencies. Although unconfirmed, this development has been lauded in crypto quarters worldwide because Wong is noted for accurately reporting and disclosing early tech findings and developments. “Twitter is working on a ‘wallet prototype’ that supports ‘crypto deposit and withdrawal.” – Jane Wong tweeted. How it is likely to work Although Twitter has not publicly announced any such product and Jane Manchun Wong did not…

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The historic Merge upgrade which took place last month resulted in anticipation regarding Ethereum blockchain’s prospects for the future with the possibility of attracting new users to the ecosystem housing the second largest cryptocurrency by market cap. However, with the prevailing market downturn, the initial stages of the Merge have seen a number of pressing issues. Apart from a loss of market capitalization and decline in market price, there are now talks that the Ethereum network has become more centralized than ever. How is Ethereum becoming more centralized? The Merge was expected to drive more interest in Ethereum after the…

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According to a CNBC report, payments giant MasterCard on Tuesday launched a software product called Crypto Secure, which is designed to help banks and other card issuers identify and block suspicious transactions from crypto exchanges. How this will work  Crypto Secure would incorporate insights and technology of CipherTrace, a blockchain security firm which Mastercard acquired last year, to help card issuers assess the risk profile of crypto exchanges. The novel initiative will present issuers with a dashboard that accurately identifies exchanges, measures transaction approval and decline rates and provides a benchmark rating for comparison to a peer group of financial…

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Source: Forbes If you’re conversant with the crypto space, you would have heard distant stories of a certain poor person, who bought bitcoin when it had literally next to no value. But was rewarded with fortunes when crypto became more mainstream and market prices skyrocketed. You would also have heard of extremely skillful and sometimes lucky traders/investors who earned huge returns on their capitals by trading/investing in crypto. Many of those stories are true and cryptocurrencies really change people’s life trajectories for real. In this article we are going to examine the top ten people that became wealthy with crypto,…

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It is no longer news that flagship asset bitcoin and other cryptocurrencies have been on a downward spiral since the start of the year. In fact, pundits and analysts have branded the 2022 market as a bearish one. There are two factions in the crypto community at the moment, those that believe the worst is yet to come, and bitcoin is heading below its current levels to plunge to $10,000. On the other side, there are optimists that are of the opinion that bitcoin is definitely going to overcome its current struggles, and $50,000 – above is plausible. Which faction…

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Binance, the world’s largest cryptocurrency exchange by trading volume, has announced the creation of its new Global Advisory Board (GAB), composed of distinguished experts in public policy, finance, economics, and corporate governance. According to the announcement, the purpose of the board is to advise Binance on some of the most complex regulatory, political, and social issues facing the entire cryptocurrency industry due to its rapid growth and evolution. The new board is composed of well-known 11 members which include two Africans, Leslie Maasdorp from South Africa and Ibukun Awosika from Nigeria. Others include Former U.S. Ambassador to the People’s Republic…

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The crypto space has been around for barely a decade but it has gained significant worldwide popularity and acceptance in the past couple of years. And now prominent international bodies are now paying attention to the technology behind it. The International Monetary Fund(IMF), a world acclaimed financial body, has released a report in September 2022 which substantiates the fact that crypto has now gained more mainstream acceptance. According to the report which was released on September 5, titled “REGULATING CRYPTO: The right rules could provide a safe space for innovation” and co-authored by the Deputy Director of IMF’s Monetary and…

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