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Mayowa Adebajo

Articles by Mayowa Adebajo

Pressure Mounts on SEC’s Gensler as US House Lawmakers Request ‘Immediate’ Approval of Spot Bitcoin ETF

21 hours ago

Bitcoin ETFs provide an easy way for investors to put their funds into the cryptocurrency market.

The crypto industry is rife with anticipation for the Securities and Exchange Commission (SEC) to approve spot Bitcoin exchange-traded fund (ETF) applications. However, the extended clamor may now have the right backing as four members of the House Financial Services Committee – two from each party – have just written a letter to that effect.
In the Tuesday letter obtained by Coinspeaker, the lawmakers – including Rep. Tom Emmer, the majority whip in the House leadership – are calling out SEC Chair Gary Gensler for urgent ETF action.

They noted that it is expedient that the agency listen to the court. That is about a recent court order that overturned the SEC’s rejection of Grayscale’s

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Particle Network Records Huge Success with WaaS V2, Sees Over 15M Wallet Activations in One Year

2 days ago

The success highlighted by the feat reinforces the popularity of WaaS.

Web3 infrastructure provider Particle Network has said that its rollout of Wallet-as-a-Service (WaaS) V2 is proving to be a huge success. According to a recent press release, the company saw more than 15 million wallet activations in under a year since it launched the service.
The success highlighted by the feat reinforces the popularity of WaaS, but more importantly, it is also a testament to the ever-growing demand for more user-friendly web3 onboarding solutions.

Explaining how the record user numbers came to be, the firm explained in a blog post that it got a lot of support from several decentralized applications (dApps). Particle claims that more than 800 dApps have partnered with it and integrated its WaaS

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Upbit Resumes APT Token Deposits and Withdrawals Following Scam Airdrop

3 days ago

Though Upbit quickly moved to halt deposits and withdrawals, that decision came after the fake APT token had already made its way into 400,000 Aptos wallets.

Upbit, the largest cryptocurrency exchange in South Korea, has resumed withdrawals and deposits of the Aptos (APT) token. This follows an earlier decision by the exchange to freeze deposits shortly after noticing what was an unusual amount of deposit attempts. According to a Sunday statement, Upbit’s system mistook a newly created fake APT token called “” as the legitimate one. Though it quickly moved to halt deposits and withdrawals, that decision came after the fake APT token had already made its way into 400,000 Aptos wallets.
Although the exchange made light of the issue, an analysis by MingMingBBS, which was

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FTX Sues Ex-Employees of Salameda as It Seeks to Recover $157M

6 days ago

The defendants allegedly used their connections on the inside to ensure that their withdrawals were prioritized over those of other customers.

Bankrupt crypto exchange FTX has sued former employees of its Hong Kong-based affiliate Salameda in hopes of recovering $157.3 million. According to a Thursday filing, Salameda was being controlled by the firm’s ex-CEO, Sam Bankman-Fried.
New Filing against Ex-Employees of Salameda Reveals ‘Shady’ FTX Withdrawals
The filing claims that 5 individuals and two companies are behind several withdrawals that took place in the days leading up to FTX’s bankruptcy. As alleged in the filing, Matthew Burgess, Michael Burgess, their mother Lesley Burgess, Kevin Nguyen, Darren Wong, and two other business entities owned or controlled various accounts that are

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Former Alameda Employee Accuses Firm of Causing BTC 87% Price Dip in 2021

7 days ago

The ‘honest’ mistake did eventually cost Alameda some millions of dollars.

An individual simply identified as Baradwaj has dropped a bombshell of an accusation on his former employer Alameda Research. According to him, Alameda, which was owned by Sam Bankman-Fried, played a prominent role in the downward spiral of Bitcoin (BTC) that saw its prices plunge over 87% on Binance.US within minutes. This was back in 2021. At the time, BTC’s price dipped to as low as $8,200 from around $65,760, albeit in a manner that could not be immediately explained.
Although the price quickly bounced back up to around where it was before the fall, Baradwaj now claims that the dip did not just happen. He claims that it stemmed from a mistake that a trader at the firm made on October 21, 2021, which saw them

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Justin Sun’s High-Yield Project Is Set to Eclipse Huobi Global

8 days ago

More than the risks to its financial reserves, and all the news about withdrawals, there is yet another reason that currently ticks off investors about Huobi.

In June, Justin Sun floated a brainchild project that was targeted at crypto investors who had a knack for very high yields. Per his pitch, the project promised returns of 5% on low-risk securities like government bonds.
Although there were always high expectations for the project, it may have already surpassed all. Barely two and a half months on, investments in its product – known as stUSDT – have grown to $1.8 billion, signaling what a big hit the project is proving to be.

But then, there is a downside to the story. The huge success so far also poses an appreciable amount of threat to Huobi Global, the crypto exchange that

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Apple’s Woes in China Persist as Huawei Makes Huge Chip Breakthrough

9 days ago

Aside from the popular Apple and Samsung brands, Huawei is probably one of the few other companies that has designed its smartphone processor.

Another threat may just have added to the number of issues that Apple Inc (NASDAQ: APPL) currently faces in China. Despite the pertinent geopolitical and economic threats to its existence in the region, the giant tech firm now faces an additional challenge from a resurgent Huawei. That is because China’s biggest semiconductor manufacturer SMIC has made a remarkable breakthrough by producing a chip for the smartphone maker.
Meanwhile, it might be worth mentioning that US sanctions are currently in effect. So, by implication, China is not expected to have access to critical technologies at this time.

Nonetheless, the situation has raised

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New York Regulator NYDFS Reviews Requirement for Crypto Coin Listings and Delistings

10 days ago

The new guidance will be the first one to key into delisting as a way of protecting investors.

The New York State Department of Financial Services (NYDFS) is set to publish a new set of rules for crypto firms. The proposed guidance, per a Wall Street Journal report, will seek to ensure that crypto firms are more open about how they list and delist crypto coins.
According to the financial regulator, the guidance will look to build on the previous version of the framework. That is as it also helps firms to draft firm-specific coin listing and delisting policies.

Recall that the original framework guidance, which was issued in 2020,  required crypto companies under the jurisdiction of NYDFS to submit a firm-specific coin listing policy. The same guidance also mandated such crypto firms

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Billionaire Mark Cuban Loses $870K in Fresh Crypto Scam

10 days ago

Luckily, Cuban was quickly alerted and managed to move over $2.5 million worth of other crypto he had on Polygon to a Coinbase exchange address.

It turned out to be a huge mistake for tech billionaire Mark Cuban when he decided to revisit crypto this past weekend. Having been inactive for several months, the Dallas Maverick owner thought it a good idea to look up his holdings, only to fall victim to a crypto scam.
According to blockchain data, he lost around $870,000 worth of tokens to the attack after his wallet was drained of US-pegged stablecoins, staked ETH (stETH), SuperRare (RARE) tokens, and some Ethereum Name Service (ENS) domains.

Speaking with DL News, Cuban hinted that someone must have been monitoring his online activities. But despite his belief, investigations may have

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Bitcoin Miners’ Clean Energy Usage Reportedly Surges Past 50%, Here’s What It Means for BTC Price

13 days ago

If not for anything else, the latest report about clean energy usage could mean a greater move toward the adoption of BTC.

A Bloomberg analyst has just reported on the present situation with Bitcoin (BTC) miners as it concerns clean energy usage. In a recent thread on X (formerly Twitter), the analyst, Jamie Coutts said that the percentage of clean energy used for Bitcoin mining has gone past 50%. That is more than 50% of Bitcoin mining now comes from renewable sources.
According to Coutts, China’s mining ban of 2021 may have played a huge role in the industry’s push toward more sustainable energy sources. The analyst also noted that there are “falling emissions plus a dramatically rising hash rate.”

Without a doubt, this development has the potential to change the outlook of

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Crypto Exchange Huobi to Use HTX to Fulfill Its Global Ambitions

14 days ago

Huobi will retain its identity for Chinese-speaking regions, but the exchange will now be recognized as HTX on the global scene.

Popular cryptocurrency exchange Huobi celebrated its 10th anniversary on Wednesday by announcing its rebranding to HTX. However, there might be more to the move that controversially appears to echo the bankrupt exchange FTX.
According to the September 13 announcement, “H” simply represents the first letter of Huobi, “T” represents Justin Sun’s blockchain project Tron, and “X” represents the exchange. But then, Huobi intends to use its new international brand to pursue its global expansion goals.

Reasons Why Huobi Rebranded to HTX
According to Justin Sun, who prides himself as a global advisor to Huobi, the exchange is keen on spreading its tentacles around

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Binance.US Responds to SEC, Calls Agency’s Requests ‘Unreasonable’

16 days ago

Lawyers representing Binance.US believe that, overall, the SEC’s moves so far would do more harm than good for its bidding.

Binance.US has claimed that the United States Securities and Exchange Commission’s (SEC) requests have been “unreasonable” with most of its requests. This is according to sealed documents filed by attorneys of the Binance.US cryptocurrency exchange on September 12. The filing – a response to SEC’s earlier request to get additional details from Binance, says most of the requests by the regulator are “unreasonable” and “unduly burdensome”.
As earlier reported, the SEC previously filed a motion for depositions by the exchange’s executives and further discovery. That is as it concerns BAM’s CEO Brian Shroder and chief financial officer Jasmine Lee. For clarity, BAM

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Morgan Stanley: Tesla’s Supercomputer Dojo Expected to Add Around $600B to Company’s Market Cap

17 days ago

Going by the new estimates, Morgan Stanley expects that Tesla’s market capitalization will surge by at least $600 billion over the next 12 to 18 months.

A recent Reuters report has tipped Tesla Inc (NASDAQ: TSLA), the electric vehicle (EV) maker, as poised to see a major boost in its market capitalization. This follows after Morgan Stanley analysts published a note about Tesla’s Dojo on Sunday. Addressing investors in the note, the team of analysts, led by Adam Jonas, shared how the supercomputer could potentially open up new addressable markets that “extend far beyond selling vehicles at a fixed price”.
According to Morgan Stanley, Tesla may already be diversifying. That is in the sense that it currently identifies as both an auto and a tech company. However, the investment bank also

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Thodex Exchange CEO, Others Get 11,196 Years Jail Sentence

20 days ago

The court also slammed them with a judicial fine of 135 million liras ( approximately $5 million) as the case came to a close.

The long arm of the law may have finally caught up with Faruk Fatih Özer, the founder of the Turkish crypto exchange Thodex which collapsed two years ago. According to a local media report, Faruk, alongside his sister Serap Özer and his brother Güven Özer have all been sentenced to 11,196 years, 10 months, and 15 days in prison. The court also slammed them with a judicial fine of 135 million liras ( approximately $5 million) as the case came to a close.
Thodex Exchange: Sweet Story that Ended Bitter
Thodex was arguably one of the biggest crypto exchanges in Turkey. Founded by Faruk in 2017, the exchange quickly rose to fame and within four years it already had

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BitMEX Co-Founder Arthur Hayes Says BTC Bull Market Is in Progress

23 days ago

Hayes believes that it may take the market another six to 12 months to fully respond to the bull run.

BitMEX co-founder and former CEO Arthur Hayes has shared an eye-opener about Bitcoin (BTC) that may have flown over the heads of many industry participants. According to him, BTC has been on a bull run for about six months or so. However, the market is yet to react, he added.
Arthur Hayes Says Market Will Soon Respond to BTC Bull Run
Sharing his thoughts in a keynote speech at the Korea Blockchain Week, Hayes said the bull run began when the Federal Deposit Insurance Corporation (FDIC) took over Silicon Valley Bank (SVB). That was on March 10. The same period also saw other prominent financial institutions such as Silvergate Bank and Signature Bank collapse, necessitating the need for

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Klarna Records Significant Loss in First Half of 2023

28 days ago

Sebastian Siemiatkowski, Klarna’s CEO and founder, said that the firm is very hopeful for the second half of 2023, suggesting that the aggressive cost-cutting strategy in 2022 may now be yielding.

Despite its efforts towards profitability, buy now, pay later firm Klarna has revealed that it failed to record a half-year 2023 profit. The Swedish firm, which had earlier taken measures to cut costs, confirmed that the measures did help reduce its losses by roughly 67% in the period. However, it was just not enough to improve its overall profitability, says Klarna.
According to the report, Klarna recorded an overall net operating income of 9.2 billion Swedish krona (approximately $843.5 million). Though up 21% year-over-year, it failed to record a half-year profit. The firm published a net

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Circle Launches USDC in Chile, Set to Launch Stablecoin on Base Network Soon

29 days ago

[unable to retrieve full-text content]CoinspeakerCircle Launches USDC in Chile, Set to Launch Stablecoin on Base Network Soon
By integrating the USDC for users in Chile, Circle will be hoping to offer them the stability of the U.S. dollar while also creating diverse payment options for them.
Circle Launches USDC in Chile, Set to Launch Stablecoin on Base Network Soon

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FTX Customers Hit by Fresh Email Phishing Attack

August 29, 2023

[unable to retrieve full-text content]CoinspeakerFTX Customers Hit by Fresh Email Phishing Attack
Proactively, the platform has placed a temporary freeze on affected user accounts within the customer claims portal.
FTX Customers Hit by Fresh Email Phishing Attack

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OKX and Bybit Remove 2 Russian Banks from Payments List, Here’s Why

August 28, 2023

[unable to retrieve full-text content]CoinspeakerOKX and Bybit Remove 2 Russian Banks from Payments List, Here’s Why
The spotlight recently came on sanctioned Russian banks after they were spotted as payment options on some top crypto exchanges.
OKX and Bybit Remove 2 Russian Banks from Payments List, Here’s Why

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Binance to Suspend Crypto Debit Card Services in Latin America, Middle East

August 24, 2023

[unable to retrieve full-text content]CoinspeakerBinance to Suspend Crypto Debit Card Services in Latin America, Middle East
Like other debit cards, the crypto debit card is a brainchild of Binance that allows its users to pay for day-to-day goods and services, using funds from their loaded crypto assets.
Binance to Suspend Crypto Debit Card Services in Latin America, Middle East

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Bitcoin Mining Difficulty Soars to New ATH amid BTC Price Dip

August 23, 2023

[unable to retrieve full-text content]CoinspeakerBitcoin Mining Difficulty Soars to New ATH amid BTC Price Dip
Recent data have left analysts optimistic about what the future holds for Bitcoin and the largest altcoin Ether (ETH).
Bitcoin Mining Difficulty Soars to New ATH amid BTC Price Dip

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OpenSea Moves to Disable Creator Fees Enforcement

August 18, 2023

[unable to retrieve full-text content]CoinspeakerOpenSea Moves to Disable Creator Fees Enforcement
The change will take effect from August 31, meaning that creators may no longer blacklist NFT marketplaces that don’t enforce royalties.
OpenSea Moves to Disable Creator Fees Enforcement

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Analyst Tips Bitcoin to Surge Past $150K on One Condition

August 17, 2023

[unable to retrieve full-text content]CoinspeakerAnalyst Tips Bitcoin to Surge Past $150K on One Condition
The approval of spot Bitcoin ETFs is expected to tip Bitcoin’s supply-demand dynamics in the direction of a significant price surge.
Analyst Tips Bitcoin to Surge Past $150K on One Condition

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Apple Begins iPhone 15 Production Outside China

August 17, 2023

[unable to retrieve full-text content]CoinspeakerApple Begins iPhone 15 Production Outside China
Apple CEO Tim Cook is claiming that India simply offers a “huge opportunity”, so, the firm has been ramping up iPhone production in the region.
Apple Begins iPhone 15 Production Outside China

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Binance Counters SEC’s Discovery Requests by Seeking Protective Order

August 15, 2023

[unable to retrieve full-text content]CoinspeakerBinance Counters SEC’s Discovery Requests by Seeking Protective Order
SEC’s requests have not been limited to the discovery of Binance’s custody, security and availability of customer assets alone.
Binance Counters SEC’s Discovery Requests by Seeking Protective Order

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