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Tag Archives: News

Around 1,590 Crypto Wallets Affected Due to CoinStats Security Breach

CoinStats suffered a security breach late into Saturday as iOS and Android users reported receiving questionable notifications about them being eligible for rewards. However, the notifications took them to a shady website asking them to download another application to receive the rewards. CoinStats updated users about the same on X. “Some iOS users received a scam notification. We’re investigating it. Sorry for the inconvenience. We’ll update you ASAP. Thanks for your understanding.” Some...

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Crypto Businesses to Comply With Nigeria’s New Regulations Within 30 Days

The Nigerian Securities and Exchange Commission (SEC) has released new guidelines geared to Virtual Asset Service Providers (VASPs). An amendment of the Rules on Digital Assets Issuance, Offering Platforms, Exchange, and Custody, issued in May 2022, the SEC has now introduced the Accelerated Regulatory Incubation Program (ARIP). It comes with the appointment of the SEC’s new Director-General, Emomotimi Agama. VAPS must comply with the framework by 21 July 2024. The SEC issued a press release...

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ETH ETF Providers Have Submitted Their S-1 Applications

Institutions that applied for issuing ETH ETFs in the US submitted their S-1 applications to the Securities and Exchange Commission (SEC) on June 21. Many assume ETH ETFs are days away from launch and can come as soon as the first week of July before the US Independence Day celebrations. Late last month, it approved the first round of applications, the 19b-4 filings submitted by the financial institutions. It then asked them to clarify its questions before submitting the S-1 applications....

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US Lawmakers Meet with Detained Binance Executive in Nigerian Prison

US legislators Rep. French Hill (R-Ark.) and Rep. Chrissy Houlahan (D-Penn.)  visited Tigran Gambaryan in Kuje Prison when they visited Nigeria for talks on counterterrorism. Gambaryan was arrested in Nigeria in February on money laundering charges levied against Binance, which most agree is made up to extort money from the exchange. Nigeria had also detained him on tax evasion charges, but the courts acquitted him of it on 14 June. He was detained alongside another Binance executive, Nadeem...

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Increasing Negative Interest in BTC as Its Price Struggles to Find Upward Momentum

BTC struggles to find pace and add gains. It slumped over 3% on 21 June, dropping below $64,000, and presently fluctuates just above $64,000. It has fallen by 8% over the past month. Despite hope and anticipation for price rises, BTC has failed to find its footing and perform like it did earlier this month when it surged past $70,000. Whales and miners have liquidated over $1.2 billion of BTC within the past two weeks because of the price decreases. Factors like a strong dollar and investors...

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Ripple Faces Securities Suit in California

Ripple CEO Brad Garlinghouse’s statements from a 2017 interview have incited a securities investigation in California. California District Judge Phyllis Hamilton has stated that XRP, Ripple’s native token, is a security when offered to retail investors. According to her, Ripple created an expectation of profits for retail investors, which is a component in the Howey Test used to determine if investments are securities. “The court declines to find as a matter of law that a reasonable investor...

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