Bitcoin experienced a momentous price surge on Mar. 5, hitting an all-time high of over $69,000 before plummeting 14% to $59,300. The following day, Mar. 6, saw BTC attempt to recover but struggle to stabilize at $66,000. This rapid price fluctuation highlighted the extreme volatility in the cryptocurrency market, causing a frenzy among traders. The
Exchanges
Cryptocurrency exchange Binance made a significant announcement regarding its services in Nigeria, stating that it would be discontinuing all services associated with the Nigerian local fiat currency, Naira (NGN). This decision was communicated in a phased approach, beginning immediately with the cessation of NGN deposits. Subsequently, users were given until Mar. 8 to withdraw their
Crypto exchange Coinbase encountered yet another technical issue on March 4th, leading to some users experiencing an empty balance in their accounts. This recurrence of problems is concerning as it impacts user confidence in the platform. Despite assurances that trading was not affected and that user assets were safe, the repeated nature of these incidents
Binance, a major cryptocurrency exchange, is currently facing legal troubles in Nigeria after its recent settlement with the U.S. Department of Justice. The House of Representatives Committee on Financial Crimes in Nigeria has issued an ultimatum to Binance CEO Richard Teng, requesting his appearance before the committee by March 4. The committee’s chairman, Ginger Onwusibe,
Recently, the Nigerian government has been considering imposing fines of up to $10 billion on Binance, a major cryptocurrency exchange. The Special Adviser to the Nigerian President, Bayo Onanuga, has accused the exchange of profiting from illegal transactions within the country, causing significant financial losses. He believes that imposing such a hefty fine would serve
The Chamber of Digital Commerce recently filed an amicus curiae defending cryptocurrency exchange Kraken in a lawsuit initiated by the US Securities and Exchange Commission (SEC). The purpose of this legal brief is to challenge the SEC’s attempt to regulate the digital asset industry through enforcement without legislative authority. The CDC stated that while enforcement
HTX, the crypto exchange formerly known as Huobi, has recently resubmitted its application for a Virtual Asset Trading Platform (VATP) license in Hong Kong. This decision comes after the exchange withdrew its initial application, which was filed through its Hong Kong subsidiary Huobi HK on Feb. 20. The withdrawal, which occurred on Feb. 23 without
The Hong Kong-based cryptocurrency exchange BitForex has raised concerns among users after its website and trading application were suspended on February 23. This suspension has left users unable to withdraw their funds or access the exchange for several days. BitForex, which boasted a trading volume of over $2 billion as recently as February 24, has
Kraken made headlines after claiming that the charges brought against it by the US Securities and Exchange Commission (SEC) were in direct response to its advocacy for the agency to operate within regulatory boundaries. The firm argued that current regulations were inadequate in addressing the complexities of the digital asset industry and emphasized the overreach
The current market of Bitcoin is a constant source of fascination for enthusiasts, as the price hovers around the $52,000 mark. However, beneath the surface, there is a shifting landscape in terms of liquidity that is worth exploring. By delving into the intricate details of buy and sell orders within a critical 2% market depth,