Author name: Peter

The Central Bank of Nigeria Removes Caps on Naira Payout Rates

The Nigerian Foreign Exchange Market and the Volatile Naira The Central Bank of Nigeria (CBN) announced on January 31 that it has eliminated the caps on naira exchange rates for international money transfer operators (IMTOs). This policy change aims to further liberalize the foreign exchange market and provide more flexibility in determining naira payout rates. […]

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Egypt’s Efforts to Stabilize Economy with $1 Billion Treasury Bill Auction

Egypt's Central Bank Aims to Alleviate Pressure on Forex Reserves The Central Bank of Egypt (CBE) is taking further steps to stabilize the country's economy by auctioning dollar-denominated treasury bills (TB) worth $1 billion. This move comes as part of the ongoing efforts to alleviate pressure on Egypt's foreign exchange reserves. Challenges Faced by the

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Hong Kong Securities Regulator Warns Against Unlicensed Virtual Asset Trading Platforms

The Hong Kong Securities and Futures Commission (SFC) has issued a warning to cryptocurrency investors, urging them to only use or trade on approved virtual asset trading platforms (VATPs). The regulator emphasized the importance of verifying a VATP's regulatory status before engaging in any transactions. Background This warning comes after the SFC previously advised users

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Monero’s Market Plummets 32% as Binance Announces Delisting, Sparking XMR’s Turbulence

Monero Faces 32% Value Slash as Binance Cuts Ties With Privacy Coin Monero (XMR), the leading privacy-focused cryptocurrency, experienced a sharp 32% decline within the last day following the announcement that Binance, the world's leading cryptocurrency exchange, intends to remove the coin from its platform. Binance cited non-compliance with its listing criteria as the reason

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Vast Bank Withdraws from Cryptocurrency Sector, Closes Mobile App

Vast Bank's Decision to Exit the Cryptocurrency Market Vast Bank, a financial institution based in Oklahoma, United States, has recently made the decision to withdraw from the cryptocurrency market. As part of this strategic shift, the bank will be shutting down its crypto mobile banking application, effective January 31st. This move signifies a change in

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Bitcoin Emerges as ‘Flight to Safety’ Asset, Outshining Gold, Says Cathie Wood

Cathie Wood: Investors Favor Bitcoin Over Gold Amid Financial Uncertainty Cathie Wood, CEO of ARK Invest, believes that there is a notable shift in investment trends, with investors increasingly favoring bitcoin over traditional gold investments. This shift has become more apparent since the introduction of spot bitcoin ETFs, which provide investors with easier access to

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Blackrock’s Ishares Bitcoin Trust (IBIT) Ranks Among Top ETFs in 2024 Inflows

Blackrock's Ishares Bitcoin Trust Attracts Rapid Inflows Blackrock's Ishares Bitcoin Trust (IBIT) has quickly climbed the ranks in the exchange-traded funds (ETFs) market, emerging as one of the top five funds in terms of 2024 inflows in just 17 days. This remarkable achievement highlights the growing interest among investors in cryptocurrency as a legitimate asset

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