Nigeria Crypto Ban: Bitcoin Sells for $76K as Deposits on Centralized Exchanges Plummet

Nigeria Crypto Ban: Bitcoin Sells for $76K as Deposits on Centralized Exchanges PlummetAccording to a website that tracks the price of bitcoin across the globe, the crypto asset’s selling price in Nigeria as of February 18 stood at $ 76,000. At this price, the crypto asset is selling for $20,000 more than the approximately $52,000 that most cryptocurrency exchanges are currently quoting. The Impact of the CBN […]

El Español Says Spanish Authorities Joint Statement Is a Warning to Companies in the Wake of Tesla’s BTC Buy

El Español Says Spanish Authorities Joint Statement Is a Warning to Companies in the Wake of Tesla’s BTC BuyThe Spanish financial markets watchdog and the country’s central bank criticized — again — cryptocurrencies as an investment asset. The entities issued a joint statement warning about the high risks the cryptocurrency market poses. Document: Crypto Adoption as a Payment Means ‘Is Still Limited’ Per the paper, the Bank of Spain and the National Securities […]

Bank of Singapore Says Cryptocurrencies “Could Replace Gold as a Store of Value” but Unlikely to Displace Fiat Currencies

A new research note released by the Bank of Singapore (BOS) suggests that cryptocurrencies are more likely to replace gold as a store of value. However, the note says it is unlikely that such digital currencies can replace fiat currencies even as their appeal grows. Inefficient Unit of Exchange According to the research note, it […]

Attackers Drain Millions From Cover Protocol, Token Holders Attack Compensation Plan

Attackers Drain Millions From Cover Protocol, Token Holders Attack Compensation PlanDecentralized finance insurance project Cover protocol briefly suffered losses when an unknown attacker minted over 40 quintillion Cover tokens. However, after successfully cashing out tokens worth about $5 million, the attacker unexpectedly returned ether tokens valued at about $3.2 million before leaving a message for the Cover team. Exploit No Longer Possible Immediately after the […]

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Centralized Exchange Operators Believe Low Liquidity on DEX Platforms Stops User Migration

Centralized Exchange Operators Believe Low Liquidity on DEX Platforms Stops User MigrationCentralized cryptocurrency exchanges (CEX) operators say they are unfazed by the increasing trading volumes on decentralized exchanges (DEX) because the latter’s liquidity is still too insignificant to cause user mass migration. The majority of CEX operators also insist that it is very unlikely the DEXs’ liquidity would surpass their own liquidity in 2 years’ time. […]

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