Cryptocurrency market value falls below $1trn

June 15, 2022 Blessing Anaro, Lagos 0

The value of the cryptocurrency market on Monday fell below $1 trillion for the first time since January 2021, according to data site CoinMarketCap, reaching as low as $926 billion. The global cryptocurrency market peaked at $2.9 trillion in November 2021, but it has faltered so far this year. It has lost $1 trillion in value in the last two Read More

CBN sanctions 3 banks for failing to comply with cryptocurrencies regulations

April 7, 2022 Segun Odunewu 0

The Central Bank of Nigeria has fined three Nigerian commercial banks a total of N800 million for failing to comply with regulations prohibiting consumers from transacting in cryptocurrencies. The sanctions, it was learnt, are part of the CBN’s efforts to tighten down on cryptocurrency, ensuring that commercial restrictions on cryptocurrency trading are in place. It was also revealed that the Read More

Institutional investors responsible for cryptocurrency overvaluation – Expert

February 22, 2022 Segun Odunewu 0

Meta’s (formerly Facebook) Lead Product Manager, Dare Obasanjo, has blamed institutional investors for the overvaluation of cryptocurrency, bitcoin, stating that there was no bigger fool in the crypto market. A bigger fool or greater fool is someone that pays a higher price to purchase an overvalued asset acquired by an investor, who hopes to resell and profit highly from the Read More