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Chimamanda U. Martha

Articles by Chimamanda U. Martha

Court Rejects Appeal to Dismiss Class Action Suit against Terraform Labs and Do Kwon

1 day ago

The class action was one of the many lawsuits brought against the company last year after the Terra-LUNA fiasco that wiped out billions of dollars as investors watched their funds vanish into thin air within a matter of days. 

A federal court in Singapore has denied an appeal to dismiss a class action suit filed against Terraform Labs, the brains behind the former Terra blockchain, and its disgraced co-founder Do Kwon on November 30.
According to a Business Insider report, the duo filed a motion of appeal at the High Court in an attempt to get the suit dropped, but the court ruled in favor of the defendants, and the class action suit is now moving forward.

Class Action Suit to Move Forward
During the court hearing on Thursday, lawyers representing the company and its former CEO, who

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KyberSwap Hacker Demands Full Control of Company

1 day ago

Both parties failed to reach an agreement on the safe return of the stolen assets despite Kyber offering the hacker 10% of the funds, which amounted to $4.3 million. 

The hacker behind the $46 million exploit on KyberSwap, a decentralized exchange that allows users to send and receive different cryptocurrencies, issued an ultimatum for the return of the digital assets stolen from the protocol on November 23.
According to an on-chain message sent to the company on Thursday, the black hat hacker laid out demands for the safe return of the assets, including total control and unrestricted access to the protocol as well as temporary full authority and ownership of its governance mechanism, the KyberDAO, all documents related to the company, and lastly all of the Kyber company’s assets.

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US to Delay Approval of Proposed Crypto Bills until Early 2024

1 day ago

Republicans had hoped to get US crypto legislation through the House in 2023. However, now 2024 seems to be a more likely period.

The introduction of comprehensive regulatory frameworks for cryptocurrencies in the United States has taken an unexpected turn, with lawmakers now eyeing 2024 as the prospective timeline for House approval of the bill.
After months of waiting for the potential green light on two proposed regulations aimed at policing stablecoin issuers and the entire crypto market, US Rep. French Hill (R-Ark.), the chairman of the House Financial Services Committee’s subcommittee that focuses on virtual assets regulation, said the bill would likely be delayed until early next year.

US to Delay Crypto Bills
According to CoinDesk, the US lawmaker and politician representing

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CZ Binance Hires Former US Prosecutor Matthew Diggs

2 days ago

Despite the ongoing legal battle with CZ Binance and the US government, market experts believe the company will continue to maintain its position as the biggest crypto exchange in the world. 

Changpeng Zhao (CZ), the founder and former CEO of the world’s largest cryptocurrency exchange Binance has hired Matthew Diggs, an ex-prosecutor in the United States with years of criminal and regulatory experience, to defend his interests in the ongoing settlement saga with the government.
Recall that Binance inked a $4.3 billion settlement deal with the US law enforcement agencies, including the country’s Commodities Futures Trading Commission (CFTC) and the Department of Justice (DOJ), which resulted in CZ’s resignation as the CEO of the exchange last week.

The former Binance boss pleaded

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Brazil Approves Proposed 15% Income Tax on Crypto Earnings Held on Foreign Exchanges

2 days ago

The move to regulate and tax cryptocurrencies held on foreign exchanges comes as digital assets are gaining popularity in Brazil.

The Brazilian Senate recently gave the green light to a new tax reform aimed at imposing a 15% tax on cryptocurrencies held on foreign exchanges. The proposed bill on crypto income has already received approval from the nation’s Chamber of Deputies, a federal legislative body, and the lower house of the National Congress of Brazil. It is now awaiting final approval from the country’s President, Luiz Inácio Lula da Silva.
Brazil to Impose 15% Tax on Foreign Crypto Holdings
Once the President gives the final approval, crypto traders in Brazil are expected to comply with the rule and pay up to 15% on all their digital asset earnings on exchanges abroad.

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Cross-Chain Protocol Wormhole Secures $225M in Funding, Now Valued at $2.5B

3 days ago

The investment round was accompanied by the launch of Wormhole Labs, an independent technology company “emerging from stealth to become a core contributor to Wormhole.”

Wormhole, a blockchain protocol designed to address the interoperability challenges of pioneer blockchain networks such as Bitcoin and Ethereum, has secured $225 million in funding, propelling the company’s total valuation to a new high of $2.5 billion.
According to an official announcement on Wednesday, the cross-chain protocol revealed that notable investors, including Jump Trading, Brevan Howard, Coinbase Ventures, Multicoin Capital, ParaFi, Dialectic, Borderless Capital, and Arrington Capital, participated in the funding round. The company wrote:

“We are grateful to have reached this milestone with the support of

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Jack Dorsey Leads $6.2M Investment in Decentralized Bitcoin Mining Pool OCEAN

3 days ago

Aside from his involvement with OCEAN, Dorsey has supported many other blockchain projects with strong potential to benefit the crypto space.

Wyoming-based software development company Mummolin has raised $6.2 million in an investment round led by Jack Dorsey, an American internet entrepreneur and billionaire CEO of the financial services company Block, for the launch of its decentralized Bitcoin (BTC) mining pool, OCEAN.
In a press release published on November 28, the company said it had completed its seed funding round that saw contributions from Accomplice, Barefoot Bitcoin Fund, MoonKite, NewLayer Capital, and the Bitcoin Opportunity Fund.

OCEAN, the Bitcoin Mining Decentralization Project
According to the firm, the just-concluded funding also saw participation from other

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JPMorgan Chase and Apollo Executives Unveil Plans for Tokenized Enterprise Mainnet

4 days ago

JPMorgan’s managing director Tyrone Lobban noted that the new system has processed over $900 billion in assets since launch.

Top executives from US-based financial services companies JPMorgan Chase and Apollo Global Management have revealed their plans for the tokenized enterprise mainnet, developed in collaboration with the Monetary Authority of Singapore (MAS).
The duo worked together on the MAS crypto pilot project, Project Guardian, designed to explore the tokenization of assets using public blockchains.

Enterprise Mainnet: A First-Mover Advantage
After collaborating with MAS to test their new blockchain project, Christine Moy, a partner at Apollo, and JPMorgan’s managing director Tyrone Lobban, sat down for an interview with Forbes on November 27 to discuss tokenization and its

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59% of Americans Say Money Can Buy Happiness

4 days ago

Americans remained primarily positive regarding financial contentment despite the recent economic challenges, like rising costs and student loans.

According to a recent study conducted by Empower, a US-based financial services company, many Americans believe that money can buy happiness, and the price tag for financial bliss is $1.2 million.
Based on responses from 2,034 adults in the United States, the study revealed that a significant majority, 59%, affirm that wealth is intricately linked to happiness.

Exploring the Link Between Money and Happiness
For centuries, the question of whether money can buy happiness has lingered in the collective consciousness. Empower’s new research explores the state of joy in life and work, seeking to find out what it really takes to be financially

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Standard Chartered Bank Maintains Bullish Stance, Predicts Bitcoin Could Reach $120K by 2024

6 days ago

Bitcoin has seen a positive trend over the past few weeks after dropping to a new all-time low last year due to the crypto winter that wiped billions of dollars from the industry.

Standard Chartered Bank is doubling down on its Bitcoin (BTC) predictions, suggesting that the leading crypto asset has the potential to soar to $120,000 by the end of 2024.
After months of predicting that the crypto asset could reach $100,000 by the end of this year and $120,000 in 2024, the company’s analyst, Geoff Kendrick, said the bank had reiterated its bold forecast, according to reports citing an email sent to an undisclosed insider.

“We are reiterating our BTC year-end price target of around $100,000, with the potential for an increase due to decreasing miner sales,” Kendrick said in the email.

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RocketX Announces Beta Launch of Its API For Multichain Crypto Swaps

7 days ago

RocketX ensures the API comes equipped with robust Anti-Money Laundering (AML) protocols, ensuring that multi-chain asset swaps occur in a compliant manner.

RocketX has unveiled the beta phase of its developer application programming interface (API), streamlining the deployment of multichain decentralized applications (dApps) across any blockchain.
According to a press release shared with Coinspeaker, the API incorporates an advanced discovery and routing algorithm, allowing self-custodial asset swaps both on-chain and across different chains. It taps into a liquidity pool exceeding $100 billion from over 450 centralized and decentralized exchanges.

A Simple Line of Code
With the API now in beta, developers gain the ability to effortlessly integrate RocketX’s hybrid aggregator into

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Nvidia Delays Launch of AI Chip for China amid Export Compliance Challenges, NVDA Stock 1% Down

8 days ago

Nvidia is also working on two other chips, the L20 and L2, for the Chinese market. According to the Reuters report, one of the chips, L20, is not facing delays and is expected to launch according to the original schedule.

Nvidia Corp (NASDAQ: NVDA), the California-based AI chip giant, has notified its Chinese customers of a delay in the launch of its new artificial intelligence chip, H20, designed to comply with the latest United States export regulations, Reuters reported Friday, citing two sources familiar with the matter.
The country’s tightened export rules have already restricted Nvidia from shipping some of its advanced products to China, including the A800 and H800 AI chips. In response, the company introduced alternatives in the form of the A800 and H800 in November 2022,

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TokenFi Rolls Out Easy Token Launch Solutions on Ethereum Goerli

8 days ago

Despite its positive trajectory, TokenFi has encountered challenges, particularly with Bitget’s recent decision to delist TOKEN from its platform amidst allegations of price manipulation.

TokenFi, a sister project to the popular meme token Floki Inu, has announced the launch of its groundbreaking initiatives, marking a significant step in democratizing the process of token creation within the cryptocurrency market. According to an announcement on X, the platform has rolled out two new tools, TokenFi Token Launcher, and the TokenFi QuickLaunch Bot, to empower users to create tokens without the need for extensive technical expertise on the Ethereum Goerli test chain.
Token Launch Tools Available on Telegram
The platform said both tools are designed to make it easier for people to build

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Crypto-Friendly Swiss City of Lugano Adopts Polygon for Swift Payments

9 days ago

Polygon will help Lugano achieve its goals by providing rails to facilitate some of the transactions.

Lugano, one of the most popular tourist destinations in Switzerland, has embraced the Polygon network, a Layer 2 scaling solution built on the Ethereum ecosystem to accelerate its crypto evolution.
In an announcement on November 22, Polygon said the crypto-friendly Swiss city has upgraded its payment platform MyLugano by integrating its Proof-of-Stake (PoS) network to make payments more accessible to people in the European region.

Innovative Local Payment Tool
Lugano, the economic hub of Italian-speaking southern Switzerland, became one of the global leaders in accelerating crypto adoption through its payment app. The local payment platform, MyLugano app, was developed in

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Austria’s Raiffeisen Bank to Launch Retail Crypto Trading Services for Customers in Vienna

9 days ago

Raiffeisen Bank will first roll out the services to small-scale customers who can invest as little as one euro in the country’s capital city of Vienna and the historic headquarters of the 97-year-old bank where most residents live.

Austria’s financial landscape is gearing up for a major transformation as Raiffeisen Bank International announces the launch of its crypto trading services for retail customers, CoinDesk reported, citing an interview with the company’s head of innovation, Curt Chadha.
According to the report, the bank partnered with the Vienna-based digital assets trading platform Bitpanda to provide new offerings to customers in the region. The company plans to make the crypto trading services available to its retail customers starting next year, January 2024.


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CoinGecko Acquires NFT Data Platform Zash to Expand Its Business

10 days ago

With this acquisition, CoinGecko plans to integrate Zash’s NFT data into its Application Programming Interface (API) by the second quarter of next year.

CoinGecko, a major cryptocurrency data tracking company, has acquired Zash, an on-chain data analytics firm that provides information on non-fungible tokens (NFTs) metadata across various platforms.
According to an announcement on November 22, the acquisition aligns with CoinGecko’s vision to become a central hub for cryptocurrency-related information and provide users with a more comprehensive suite of data.

“This acquisition aligns with our commitment and dedication to deliver exceptional value to the crypto community, starting with a unified token and NFT market data offering,” said TM Lee, CEO, and co-founder of CoinGecko.

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SEC’s Upcoming Closed-Door Meeting Fuels Speculation of Potential Settlement with Ripple

10 days ago

Despite the legal victories of Ripple, the court recently issued an order concerning the remedies phase of the lawsuit.

As the United States Securities and Exchange Commission (SEC) gears up for a closed-door meeting, crypto community members are abuzz with anticipation for a potential settlement of the longstanding legal battle between the SEC and Ripple.
According to the official announcement, the expected participants for the closed-door meeting are top SEC commissioners, counsels, secretaries, and essential staff.

The meeting, scheduled for Thursday, November 30, will be held at the SEC’s headquarters in Washington, D.C., and the primary points of discussion will center on settling injunctive actions and administrative proceedings, raising hopes for a potential resolution to the

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Bernstein: Binance to Maintain Global Dominance after Settlement with US Authorities 

10 days ago

Bernstein analysts are not the only experts who believe Binance will remain the world’s leading crypto exchange despite the recent settlement with the US authorities.

In the aftermath of Binance’s recent settlement with the United States government, industry analysts at Bernstein are confident the company will continue to maintain its position as the leading global cryptocurrency exchange in the industry.
According to a research report by Bernstein, despite facing minor outflows of less than $1 billion, Binance demonstrated resilience, with customers exhibiting minimal panic.

Binance Shows Resilience in the Face of Turmoil
The Bernstein analyst, led by Gautam Chhugani, said that Binance maintained its reputation with non-US retail customers and remained robust throughout the crisis.

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Ethereum Layer 2 Protocol Blast Secures $20M Investments from Paradigm

12 days ago

The L2 protocol anticipates its Mainnet to go live on February 24 next year, enabling withdrawals, with users able to redeem their Blast Points starting May 24.

Blast, an Ethereum layer 2 protocol with yield-bearing assets, announced the completion of its $20 million funding round led by Paradigm, a research-driven technology investment company with a special focus on crypto.
Announcing the milestone on Twitter now X, the protocol said Standard Crypto also contributed to the $20 million investment round, which would be used to build a layer 2 network that helps users earn more yields on their crypto holdings.

Introducing Blast: The only Ethereum L2 with native yield for ETH and stablecoins.
We’ve raised $20m from @Paradigm and @StandardCrypto to build the L2 that helps you earn

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Dfinity Partners Blockchain Protocol SingularityNET to Launch Joint AI Initiative 

12 days ago

Aside from the integration of ICP into the SingularityNET protocol, the two companies plan to synergize their grant programs by merging the Deep Funding and DFINITY Developer Grant Programs.

The Dfinity Foundation, a not-for-profit research and development organization, has partnered with SingularityNET, an AI-focused blockchain firm, to propel decentralized artificial intelligence (DeAI) on the Internet Computer Blockchain (ICP).
According to an official press release on November 20, the collaboration signals a significant leap in the integration of large language models (LLMs) into decentralized applications (DApps) while addressing transparency concerns associated with centralized AI training data.

Joint Initiative to Integrate ICP Blockchain with SingularityNET
Under the terms

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Osaka Digital Exchange (ODX) to Start Trading of Digital Security Tokens in Japan

12 days ago

ODX said the token issuance will take place on Progmat, a robust software platform dedicated to the issuance and management of digital assets. 

Osaka Digital Exchange (ODX) is set to transform the Japanese financial landscape with the launch of the country’s first-ever securities trading platform. The announcement, made on November 20, revealed that the company will commence trading of security tokens on its proprietary platform, dubbed “START,” on December 25, Christmas day.
Having secured regulatory approval from Japan’s financial watchdog on November 16, ODX is now authorized to operate the Securities Token Proprietary Trading System (ST PTS) in compliance with local securities laws.

Ichigo Owners Leads Tokenized Securities Issuance
The company, launched in 2021, consists of

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Crypto Payment Firm Strike Enables Bitcoin Purchases for Users Worldwide

15 days ago

Strike initially rolled out the BTC purchase feature for customers in the United States, allowing only users in the country to buy the crypto asset at no cost.

Crypto payment company Strike has expanded its global services, allowing users in 36 countries, including El Salvador, Australia, and some African nations, to purchase Bitcoin (BTC) directly on the platform using their debit cards.
In a recent announcement, the firm revealed plans to extend these services to over 65 countries in the future. The global purchase feature is already available to iOS users and is expected to debut 100% on Android smartphones in the coming days.

Strike Enforces 3.9% Fee for Bitcoin Purchases Globally
The crypto payment company initially rolled out the BTC purchase feature for customers in the

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Meta Unveils AI Models for Video and Image Editing on Facebook & Instagram

16 days ago

Complementing Emu Video, Meta introduced Emu Edit, a precision-focused model dedicated to image manipulation.

Meta Platforms Inc (NASDAQ: META), the parent company of Facebook and Instagram, has unveiled a suite of artificial intelligence (AI) models designed to revolutionize video generation and image editing on its social media platforms.
According to a company blog post on Thursday, the generative AI tools Emu Video and Emu Edit are designed to help content creators generate videos and edit images without hassle on Facebook and Instagram.

Transformative Video and Image Editing Tools
Both tools were unveiled this year at the Meta Connect event in September 2023. According to the company, the two AI models, which are still in the “fundamental research right now,” were built upon

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Samsung Launches AI Chatbot Gauss to Rival ChatGPT

17 days ago

According to Samsung, developers can benefit from an interactive interface offered by the “Gauss Code” that supports code description and test case generation functions to build corporate applications tailored to their needs. 

Samsung Electronics, one of the leading global electronics companies based in South Korea, is expanding its foothold into the artificial intelligence market with the launch of its own chatbot dubbed Samsung Gauss.
The company announced the launch of the new AI technology, named in honor of the famous German mathematician and physicist Carl Friedrich Gauss, during the annual Samsung AI Forum hosted in Seoul on Wednesday, November 8.

Text Generation, Coding and Image Enhancement
According to the company, the AI tool was developed by Samsung Research, the

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Ripple CEO Criticizes SEC for Losing Focus on Investor Protection

20 days ago

Garlinghouse emphasized the need for the SEC to reassess its regulatory approach, moving away from a pattern of enforcement through lawsuits.

During the just-concluded Ripple’s Swell conference in Dubai, the company’s CEO Brad Garlinghouse shared his views regarding the United States Securities and Exchange Commission’s (SEC) role in protecting consumers against bad actors.
In an interview with CNBC’s Dan Murphy, Garlinghouse stated that, in his opinion, the SEC has strayed from its commitment to investor protection, questioning the agency’s priorities in the process.

“I think the SEC, in my opinion, has lost sight of their mission to protect investors. And the question is, who are they protecting in this journey?” Garlinghouse told CNBC.
Ripple’s Win Is a Positive Step for the

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Arthur Hayes Predicts Bitcoin to Reach $1 Million and Ethereum to Hit $100,000 

21 days ago

Last month, Hayes made a similar forecast, noting that Bitcoin could reach from $750,000 to $1 million towards the end of the current decade.

After his visit to Rapa Nui, commonly known as Easter Island, Arthur Hayes, the co-founder and former CEO of leading crypto derivatives platform BitMEX, has once again predicted that Bitcoin (BTC) could reach $1 million, with Ethereum (ETH) soaring to $100,000.
In an unexpected turn, Hayes humorously hinted that the island’s ancestors might have provided him with a tip-off on the impending bull market that could lead to the explosion of the two crypto assets.

Arthur Hayes Bullish on Bitcoin
Despite lacking any known roots in Rapa Nui, he suggested that, according to his ancestral guidance, the bull market is now, and the digital asset industry

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Steer Protocol Partners with Sushi for Enhanced Liquidity: Smart Pools Integration

22 days ago

With this integration of Smart Pools, users can now earn higher yields without the hassle of manually rebalancing their liquidity.

Decentralized finance (DeFi) network Steer Protocol has teamed up with Sushi to integrate its innovative Smart Pools into the ecosystem.
According to the announcement, the collaboration aims to revolutionize liquidity management and provide a seamless experience for Liquidity Providers (LPs) within Sushi’s Concentrated Liquidity Pools.

Smart Pools Now Fully Integrated into Sushi
The DeFi ecosystem heavily relies on LPs, yet the challenges they face in generating yield are undeniable. However, Steer Protocol has introduced its Smart Pools, an Automated Liquidity Management (ALM) solution to address these challenges.
Sushi announced on November 9 that it

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TON Network Begins Global Rollout of Wallet on Telegram 

22 days ago

Telegram is committed to providing TON with the necessary tools and infrastructure to cater to its 80 million global customers.

The Open Network (TON) has begun the official rollout of its self-custodial Wallet on Telegram, choosing Africa as the frontier for the new project.
In an announcement on X, formerly Twitter, Andrew Rogozov, the founder and CEO of The Open Platform, the brains behind the development of the blockchain, said the Wallet will first be made available to selected countries in Africa before expanding to other regions around the world.

Global Expansion in Q2 2024
Although the TON network did not disclose the African nations that could access the Web3 wallet, the platform plans to extend the offerings to other countries in the Middle East, Europe, and the Asia

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BlackRock Anticipates SEC Green Light for Spot Bitcoin ETF by January

23 days ago

With strong confidence that its Bitcoin spot ETF will be approved by January 2024, BlackRock has filed an application for a spot ETH ETF.

Leading global asset management company BlackRock Inc (NYSE: BLK) says the Securities and Exchange Commission (SEC) will approve its Bitcoin (BTC) spot ETFs in January 2024, Fox News reported Thursday.
According to the report, citing people familiar with the matter, the $9 trillion asset manager is confident that the approval of the ETF is imminent and will not exceed January.

If approved, the BlackRock’s spot bitcoin ETF application, filed in July this year listing Coinbase as the custodian, would become the first of many exchange-traded funds in the United States, bringing the industry closer to mainstream adoption.
SEC Could Approve Bitcoin

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US Congressman Tom Emmer Proposes to Restrict SEC’s Actions Against Crypto

23 days ago

With the amendment sailing through unopposed, Emmer emphasized the potential roles of other government bodies, such as the Department of Justice and the Treasury, in managing any possible misconduct within the crypto industry.

United States Congressman Tom Emmer is advocating for a significant change that aims to limit the powers of the Securities and Exchange Commission (SEC) in its dealings with the cryptocurrency industry.
On Wednesday, November 8, Emmer proposed to amend the Financial Services and General Government Appropriations Act (HR 4664) bill to include a clause that prohibits the financial watchdog from using public funds to pursue any enforcement actions against the crypto industry until Congress passes appropriate legislation in the future, granting the agency the power to

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