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The Nigerian central bank has said the recently demonetized ₦200, ₦500 and ₦1,000 banknotes will remain legal tender until Dec. 31, 2023. The central bank statement, which reaffirms a Supreme Court ruling that extended the lifespan of the demonetized naira banknotes, followed a rebuke of the CBN by the outgoing Nigerian president, Muhammadu Buhari. Central
Scammers continue to prey on nonfungible token (NFT) users looking to claim Blur (BLUR) token airdrops through numerous scam websites. According to data from TrustCheck, over $300,000 has been stolen from unsuspecting users that have linked wallets to malicious websites. The legitimate Blur platform is a newcomer to the NFT marketplace space, making waves in
Ether (ETH) stakers who have had their holdings locked up during the Ethereum Merge event might soon have access to “unstaking.“ Coinbase has announced in a tweet that unstaking requests on its platform may take the protocol weeks or months to process. According to the tweet, it expects a flood of staking withdrawal requests after
Every now and then a country has a nationwide debate that produces actual learning. It happened in the UK about two years after the vote for Brexit, when many people belatedly found out about the workings of the European single market. I’ve spent much of this winter following the French debate about the right retirement
Financial journalists only know two quotes from literature. There’s the Hemingway one about bankruptcy, and the Tolstoy one about happy and unhappy families. In recent reporting on Credit Suisse, most reporters have been choosing the wrong quote. Silicon Valley Bank’s failure might have made it seem like all bankruptcies happen gradually then suddenly but, in
Bitcoin (BTC) rebounded for a fresh challenge of $25,000 on March 16 ahead of a key interest rate decision in Europe. Credit Suisse stock up 40% after “decisive action” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining almost $1,000 versus overnight lows of $24,229 on Bitstamp. The pair remained buoyant as news hit
Meta, the social media company, will continue to shed part of its workforce, recently announcing 10,000 new layoffs to be executed during 2023 as part of its new efficiency policy. Mark Zuckerberg, CEO of the company, stated that artificial intelligence (AI) was currently the company’s most prominent investment, even over the metaverse. Meta Announces 10,000
The United States Federal Deposit Insurance Corporation (FDIC) has reportedly asked potential rescuers of some failed U.S. banks not to support any crypto services. The FDIC regulators have asked banks interested in acquiring failed U.S. lenders like Silicon Valley Bank (SVB) and Signature Bank to submit bids by March 17, Reuters reported. The authority will
Amid all the chaos around multiple bank runs in the United States, Cathie Wood, CEO of asset management firm ARK Invest, said cryptocurrencies acted as a safe haven amid the ongoing banking crisis in the United States. She blamed the recent downfall of the likes of Silicon Valley Bank (SVB), Signature and others on the
The founder of cryptocurrency exchange Bitzlato has denied guilt in a money laundering case in the United States. Anatoly Legkodymov was arrested in Miami, in mid-January, for his role in running the trading platform which allegedly processed over $700 million in illicit funds. Bitzlato Founder Legkodymov Appears in US Court Anatoly Legkodymov, one of the
Credit Suisse shares rebounded sharply on Thursday after the lender revealed plans to borrow up to SFr50bn ($54bn) from the Swiss central bank and buy back about SFr3bn of its debt in an attempt to boost liquidity and calm investors. The Swiss National Bank had said on Wednesday it was willing to provide a liquidity
The Federal Bureau of Investigation (FBI) says cryptocurrency investment fraud rose 183% from $907 million in 2021 to $2.57 billion in 2022, based on data from its Internet Crime Complaint Center (IC3). The FBI also warned the public of “a spike in cryptocurrency investment schemes.” FBI’s Crypto Crime Statistics The Federal Bureau of Investigation (FBI)
The hacker responsible for the $196 million attack on Euler Finance has begun moving funds into crypto mixer Tornado Cash, only hours after a $1 million bounty was launched to uncover the hacker’s identity. Blockchain analytics firm PeckShield tweeted on March 16 that the exploiter behind the flash loan attack on the Ethereum noncustodial lending
For those of us not in attendance at the great private-jet-powered, sustainability-obsessed meeting of minds that was Davos this year, there was one buzzword brought back by attendees that has really stuck with me (or in my gullet, to be precise): “mattering”. Supposedly, the “secret to management in a new hybrid-working economy” is not honouring
When Silicon Valley Bank imploded last week, most of its 8,500 staff were still working remotely. “Some people worked from Miami, some moved to Las Vegas or a cabin in the woods and did the digital nomad thing,” said one former banker. SVB’s total embrace of remote working was just one way in which the
Good morning. On Tuesday, we asked if another bank would fall. We were thinking about America, not Europe. Yet it is Credit Suisse that is teetering. In the early hours of Thursday morning in Switzerland, the bank said it would “pre-emptively” take up to SFr50bn ($54bn) from the Swiss central bank’s just-announced liquidity backstop. The
The United States is headed for a credit crunch and now is the right time to buy gold, silver and Bitcoin (BTC), says Galaxy Digital founder and CEO Michael Novogratz. “We are going to have a credit crunch in the U.S. and globally,” Novogratz said in an interview on CNBC. “You want to be long gold
The Supreme Court of Appeal (SCA) in South Africa has rejected former Monero lead maintainer Riccardo Spagni’s bid to have it declare his extradition from the United States to South Africa illegal. In its ruling, the Supreme Court of Appeal insisted that Spagni did not sufficiently argue for the voiding of the extradition process. Spagni
European bank stocks rallied on Thursday after Credit Suisse was offered liquidity financing by the Swiss National Bank, sparking a rebound in the bank’s shares. The recovery in the banking sector fuelled a broader rise across European indices ahead of the European Central Bank’s monetary policy meeting. Credit Suisse shares jumped 30 per cent at