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Nigeria’s National Security Adviser (NSA) is set to label crypto trading as a national security threat, signaling an impending crackdown on peer-to-peer (P2P) crypto transactions, according to local media reports and CryptoSlate sources.
The move follows the decision of at least three major Nigerian fintech startups — Moniepoint, Paga, and Palmpay — to block accounts involved in crypto dealings...
Former SEC Division of Enforcement Assistant Director Jennifer Lee said on May 2 that Donald Trump’s possible reelection likely won’t change the SEC’s stance on crypto.
Lee told CNBC the SEC “vigorously pursued crypto cases” during Trump’s first presidential term and that it brought “daylight and regulation” to the burgeoning industry.
She predicted that the SEC would continue to “define its...
Galaxy reported an assortment of VC investment data, including nearly $2.5 billion invested in the first quarter, on May 3.
Crypto firms attracted funding across 603 deals during the period, representing 29% growth in dollar value and 68% growth in deal count quarter-over-quarter.
The growth represents the first increase by both measures in three quarters, though Galaxy emphasized that future...
Quick Take
Over the past few days, Bitfinex has recorded a substantial 6% increase in Bitcoin (BTC) long positions held by whales — totaling a staggering 48,615 BTC.
BTCUSD Longs: Bitfinex: (Source: TradingView)
Analyzing Bitfinex whale activity in 2024 reveals a clear pattern: On Feb. 10, these whales held over 76,000 BTC, but by March’s all-time high, the holdings had decreased to 42,000 BTC....
The Netherlands’ Fiscal Information and Investigation Service (FIOD) announced the arrest of a 26-year-old suspected to be involved in the ZKasino decentralized gambling platform scam.
Meanwhile, speculations within the crypto community suggest that the arrested person could potentially be the pseudonymous founder of the platform known as Derivatives Monke.
Asset seizures
In the wake of the...
Former BitMEX CEO Arthur Hayes expressed optimism regarding Bitcoin’s future trajectory, suggesting that the recent downturn marks a local bottom, with the flagship crypto poised for a gradual ascent over the coming months.
Hayes shared his insights in a blog post on May 3, attributing the recent market slump to a variety of factors, including the US tax season, concerns over Federal Reserve...
Quick Take
Federal Reserve Chair Jerome Powell dismissed concerns about stagflation following the release of the latest US economic data. In his speech following the Fed’s decision to keep fed funds rates at 5.25%-5.50%, Powell stated:
“So I don’t see the ‘stag’ or the ‘flation’.”
Stagflation refers to a toxic combination of stagnant economic growth, high unemployment, and persistently high...
Marathon Digital reported a significant year-on-year surge in its Bitcoin production last month, defying expectations surrounding the halving event.
Bitcoin production increase
In its April operational report, Marathon revealed that it produced 850 BTC, marking a notable 21% increase on the year-on-year metrics. This uptick is primarily attributed to the 15% boost in its operational hashrate, now...
Blockchain security firm Cyvers Alert reported that an unnamed crypto trader lost 1,155 Wrapped Bitcoin (WBTC), equivalent to $70.5 million worth, to address poisoning.
The firm said:
“Are we mistaken, or has someone truly lost $68 million worth of WBTC? Our system has detected another address falling victim to address poisoning, losing 1,155 WBTC.”
Meir Dolev, the founder and CTO of Cyvers,...
Quick Take
Farside data shows that the Bitcoin exchange-traded funds (ETFs) witnessed an outflow of $34.4 million on May 2. Grayscale’s GBTC was the sole ETF to experience outflows, which is an encouraging sign compared to May 1, when all ETFs faced outflows. GBTC saw an outflow of $54.9 million and currently holds 291,248 Bitcoin.
Interestingly, three of the four major ETFs, including BlackRock’...