In a significant development that underscores the growing regulatory scrutiny in the cryptocurrency sector, Nigeria’s Federal Inland Revenue Service (FIRS) has initiated legal proceedings against Binance Holdings Limited, seeking a staggering $81 billion in unpaid taxes and penalties. The enormity of this claim—with $79.5 billion attributed to economic damages alone—has sent shockwaves through the financial
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Ripple, a prominent player in the cryptocurrency market, has recently faced some challenges, particularly around the $2.8 threshold. This point has become a psychological barrier, leading to a minor pullback in the asset’s price. However, Ripple does not find itself in a dire situation. Instead, it is inching closer to a robust support range, which
Ethereum, one of the leading cryptocurrencies, is presently caught in a state of market ambivalence, trading between $2,650 and $2,750 over the past week. This lateral movement reflects a broader ambiguity among investors regarding Ethereum’s immediate future. While bulls are aiming to reclaim the pivotal $2,800 threshold, their efforts are thwarted by selling pressure that
The cryptocurrency market is experiencing a downturn, with total market capitalization slipping approximately 3% over the past day, now standing at $3.24 trillion. This recent decline serves as yet another chapter in the ongoing saga of cryptocurrency volatility, particularly impacting altcoins, which have struggled significantly this month. However, historical data highlights that February often serves
In the rapidly evolving landscape of cryptocurrency, few narratives are as compelling and instructive as that of Samuel Edyme, known in digital circles as HIM-buktu. A multifaceted web3 content creator, Edyme has navigated the tumultuous waters of the crypto world with a blend of keen insight and an unyielding spirit. His journey is marked not
Ethereum is currently positioned at a pivotal point in its trading history, grappling with significant selling pressure that jeopardizes its ability to stabilize around critical price levels. As traders watch anxiously, the cryptocurrency has encountered turmoil around the $2,800 threshold—a value that has previously acted as both resistance and support. The ripple effects of this
The cryptocurrency market, with Bitcoin at its helm, has seen a turbulent yet intriguing journey, and the upcoming months could significantly shape its trajectory. The concept of the “sell in May effect,” a term borrowed from traditional finance, is garnering attention as market analysts weigh its applicability to Bitcoin (BTC). The implications of this phenomenon
The world of cryptocurrencies, while heralded for its potential to democratize finance, has also become a fertile ground for deception and criminality. Richard Teng, the CEO of Binance, recently shed light on a sophisticated scam known as the “share-seed-phrase” scheme, which highlights the evolving nature of fraud in the digital asset space. Unlike traditional phishing
The cryptocurrency community is abuzz with excitement as the long-anticipated creditor payouts from the FTX bankruptcy proceedings are set to commence. On February 18, the FTX estate will begin distributing payments to creditors, specifically targeting those with smaller claims—those amounting to $50,000 or less. This development marks a significant event following a protracted period of
In an ambitious attempt to tackle government spending inefficiencies, the Elon Musk-led Department of Government Efficiency (DOGE) has turned its spotlight on the U.S. Securities and Exchange Commission (SEC). Announced in a social media post on February 17, DOGE’s initiative seeks to crowdsource insights from the public about potential waste or unethical practices within the
