Paxful to Drop Ethereum Trading Due to Increased Centralization and Consensus Mechanism Pivot
Paxful, a New York-based, peer-to-peer (P2P) cryptocurrency exchange, will drop Ethereum trading from its platform on Dec. 22. Ray Youssef, CEO of the company, cited different reasons for this decision, with increased centralization and the recent consensus mechanism pivot amongst them. Youssef also stated that tokens built on top of Ethereum have been primarily scams. […]
Paxful CEO preaches Bitcoin self-custody, advises against crypto exchange
While some execs chose to double down on assuring the funds’ safety on their platforms, Ray Youssef, the CEO of crypto exchange Paxful, sided with the idea of self-custody.This post was originally published on this site
Nigerian CBDC Still Not Widely Used a Year After Launch
On October 25, Nigeria commemorated the first anniversary of the Central Bank of Nigeria’s e-naira, even as more residents continue to snub the digital currency. In a move aimed at boosting the use of the CBDC, the central bank is offering a 5% discount to motorized rickshaw drivers and passengers that use the e-naira. Kingsley […]
Dominican Republic Launches Caribbean Crypto Summit
The international blockchain and cryptocurrency conference will take place on October 12 in the capital, Santo Domingo. Several experts from Latin America and other regions of the world will take part. They will speak on the development and promotion of cryptos and blockchain technology. Applications to participate in the Caribbean Crypto Summit, which is being […]
Kenyan Central Bank Says It’s ‘Craziness’ to Convert Country’s Reserves to Bitcoin
The Kenyan central bank governor Patrick Njoroge has described as “craziness” the calls to convert Kenya’s reserves into bitcoin. He added that he would have to be out of his mind before agreeing to this. Njoroge argued that cryptocurrencies like bitcoin are not only volatile, but are hardly solving any problem. CBK Governor Says Converting […]
Report: Legal Experts Say Nigeria in Need of ‘Clear-Cut Guidelines’ for Crypto Industry
Authorities in Nigeria have been told to consider upgrading the country’s cryptocurrency regulatory guidelines because current regulations are not consistent with the realities on the ground. According to legal experts, the growing interest in cryptocurrencies by Nigerians means the country needs to have “clear-cut guidelines” for the industry. Nigerians Continue to Defy Central Bank Legal […]
Nigerian BTC Peer-to-Peer Volumes Nearly $400M in H1 of 2022 — Significant Growth in Kenya and Ghana Volumes
Nigeria’s peer-to-peer bitcoin traded volumes of over $1.1 billion between January 2021 and June 2022 mean the West African nation is now Paxful’s largest market. Kenya, which saw traded volumes of over $325 million during the same period, now ranks as the crypto exchange’s second-largest African market, and fifth overall. Financial Exclusion Driving P2P Bitcoin […]
Binance Reveals Incident That Forced It to Freeze BTC Withdrawals
In a post-mortem issued shortly after it lifted the freeze on bitcoin withdrawals, Binance has identified the “repairing of several minor hardware failures on wallet consolidation” as the incident that ultimately forced it to pause withdrawals. To fix the problem and to stop this from recurring, Binance said it changed the logic “to only take […]
Localbitcoins User Pleads Guilty to Running Unlicensed Crypto Business — Faces Up to 5 Years in Prison
A cryptocurrency trader has been convicted in the U.S. for operating an unlicensed money-transmitting business using Localbitcoins and Paxful. He faces up to five years in federal prison and a possible $250,000 maximum fine. Crypto Trader Pleads Guilty The U.S. Department of Justice (DOJ) continues to take action against crypto traders using services such as […]