Kenyan Central Bank Orders Financial Institutions to Stop Dealing With Two Nigerian Fintechs

In a letter addressed to the CEOs of financial institutions, the Central Bank of Kenya (CBK) has said financial institutions operating in the country must cease and desist from dealing with two Nigerian fintechs, Flutterwave and Chipper Cash. The letter reiterates…

Fed Board, FDIC Order Voyager Digital to Retract Federal Deposit Insurance Claims

Following Voyager Digital’s application for bankruptcy protection during the first week of July, Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board today issued a joint letter to the company demanding a cease and desist against Voyager’s FDIC claims. The…

Celsius Clients Beg Bankruptcy Court to Release Crypto, One Customer Needs Funds to ‘Put Food on the Table’

After the crypto lender Celsius filed for bankruptcy protection on July 13, the company recently contacted customers and explained that an employee from one of the firm’s vendors accessed a list of Celsius client emails, and the email addresses were “transferred…

Credit Cards Should Not Be Used for Crypto Transactions, Taiwan’s Financial Watchdog Says

The financial regulator of Taiwan has asked local banks not to allow the use of cards for payments in transactions involving cryptocurrencies, local media revealed. The authority says these assets are risky while associated cash flows are hard to monitor. Taiwanese…

Robert Kiyosaki Says in Cash Position Waiting to Buy Bitcoin — Asset Prices Are Crashing, ‘Greatest Sale on Earth’ Incoming

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has advised investors not to miss “the greatest sale on earth.” He said asset prices are crashing and indicated that he is waiting in cash position to pick…

Tesla CEO Elon Musk Officially Terminates $44 Billion Twitter Deal — Twitter Threatens Lawsuit

Tesla CEO Elon Musk has formally informed Twitter that he is terminating his $44 billion bid to buy the social media platform. “Twitter is in material breach of multiple provisions” of the agreement, Musk’s lawyer explained. Musk Ending Deal With Twitter…

Elon Musk Secures Funding From Crypto-Friendly Binance, Sequoia, Fidelity to Buy Twitter

Tesla and Spacex CEO Elon Musk has secured $7.139 billion in new financing commitments to fund his acquisition of Twitter, including from several pro-crypto companies. Cryptocurrency exchange Binance, for example, has committed to invest $500 million in the social media platform…

Crypto Businesses Ask 27 EU Finance Ministers to Loosen Disclosure Requirements

Forty-six European crypto businesses and organizations have asked finance ministers in 27 European countries to loosen some regulatory requirements for the crypto industry. For example, they asked for decentralized finance (defi) projects to be excluded from the requirements to register as…

Tron’s Justin Sun Reveals Decentralized Algorithmic Stablecoin USDD

On April 21, Justin Sun, the founder of Tron, announced the launch of a decentralized algorithmic stablecoin called USDD. Sun said on Thursday that the USDD Network will “provide custody service for the $10 [billion] worth of highly liquid assets raised…

Russian Chamber of Commerce Suggests Using Cryptocurrencies in Settlements With Africa

Employing crypto in cross-border payments is one of the proposals put forward by the Russian Chamber Of Commerce lobbying for more cooperation with African countries. Amid unprecedented sanctions limiting Russia’s ability to trade internationally, the head of the board has urged…