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Trump’s Dollar Boom Spells Doom for Zambia’s Recovery
14.11.2024
Zambia’s central bank governor, Denny Kalyalya, is sounding the alarm about the strengthening U.S. dollar’s impact on Zambia’s economy. A stronger dollar, fueled by Donald Trump’s election victory, could lead to decreased capital flows, increased inflation, and reduced...
Crypto Kidnapping: Tourist Held Captive, Forced to Transfer $250K in USDT
13.11.2024
A 23-year-old Ukrainian tourist in Phuket, Thailand, was kidnapped and forced to transfer $250,000 in USDT stablecoins (about 8.56 million baht) to two armed robbers. Viacheslav Leibov was threatened with violence until he complied with the robbers’ demands. Initially, the two robbers,...
Zimbabwe Plans to ‘Float’ Rapidly Depreciating Gold-Backed Currency
11.11.2024
Zimbabwe has said it plans to let its rapidly depreciating gold-backed currency, Zig, float freely on the foreign exchange market. A central bank official said this would help the currency achieve price discovery without administrative interference. However, the official did not give a timeline...
Bitcoin Surges Past $80,000 Amid Trump Victory Excitement
10.11.2024
On Sunday, Nov. 10, at 06:58 a.m. EST, Bitcoin soared past $80,000, fueled by enthusiasm over Donald Trump’s electoral win. As of writing, the top cryptocurrency’s rally continues, with the predicted $100,000 possible by inauguration seemingly in range. With this jump, Bitcoin chalked...
Zimbabwe Imposes $50-$2,500 Licensing Fee on Whatsapp Admins to Curb Misinformation
8.11.2024
Zimbabwe’s government has introduced a licensing requirement for Whatsapp group administrators to curb misinformation and enhance accountability on social media platforms. The licensing fee ranges from $50 to $2,500, depending on the type of Whatsapp group. Administrators must provide...
Nigerian Crypto Crackdown: Two More Firms Convicted, Forced to Cough Up $30,000
8.11.2024
A Nigerian court has convicted two more cryptocurrency firms, Egomsinachi Road Autos Limited and Chimera Log & Haulage Services Limited, for conducting unauthorized USDT-to-naira transactions. As a result, they’ve been ordered to transfer nearly $30,000 to the federal government....
Nigeria Unveils Amnesty Program to Recover Illegally Held Dollars Amid Forex Crisis
3.11.2024
The Nigerian government has announced a nine-month program allowing individuals to deposit U.S. dollars held outside the formal banking system without facing penalties or scrutiny. Finance Minister Wale Edun said his ministry will first issue guidelines for the program, followed promptly...
Google Fuels Nigeria’s AI Ambitions With Million Dollar Grant
1.11.2024
The Federal Ministry of Communications, Innovation, and Digital Economy (FMCIDE) in Nigeria has announced a $1.7 million (NGN2.8 billion) Google grant to promote artificial intelligence (AI) talent development. This will support the Ministry’s AI initiatives and align with Google.org’s...
President Joe Biden Thanks Nigerian Leader for Role in Ex-Federal Agent’s Release
30.10.2024
President Joe Biden thanked Nigerian President Bola Tinubu for securing the release of American citizen Tigran Gambaryan, a former U.S. law enforcement official and Binance employee, on humanitarian grounds. Gambaryan spent eight months in Nigerian detention, where his deteriorating health...
Stablecoin Plunges 98% in 24 Hours, Sparks Rug Pull Allegations
26.10.2024
Early on Oct. 26, the U.S. dollar value of Essence Finance’s decentralized stablecoin, CHI, plunged by more than 90% after rumors emerged that more than $20 million of collateral had been removed. According to Geckoterminal data, the value of the stablecoin, which normally trades at par with...
Former US Federal Agent Freed From Nigerian Prison After 8 Months
24.10.2024
Tigran Gambaryan, a U.S. citizen and former federal agent detained in Nigeria for eight months, has been released. The charges against him, brought by the Economic and Financial Crimes Commission, were dropped. The release of the Binance executive from one of Nigeria’s notorious prisons...
Nigeria Drops Money Laundering Charges Against Ex-US Federal Agent
23.10.2024
The Nigerian government has dropped money laundering charges against jailed Binance executive and former U.S. Federal agent Tigran Gambaryan. The Binance executive’s lawyer said the charges were dropped after the court determined that Gambaryan was merely an employee and could not...