DeFi News Official Today TheBitTimes.com

During her appearance before Nigerian lawmakers, Aisha Ahmad, the deputy governor of the Central Bank of Nigeria (CBN), told lawmakers that out of the nearly $1.8 billion used to manage the local currency, over 90% of this total was reportedly used to fund expenses associated with the production of banknotes. The Growing Cost of Maintaining the Naira According to Aisha Ahmad, the deputy governor of the Central Bank of Nigeria (CBN), between the years 2017 and 2021, the apex bank spent an equivalent of nearly $1.8 billion, or 800 billion naira, managing the local currency. The production of new banknotes alone accounted for more than 90% of this figure. As per remarks published by the Punch, Ahmad, in her recent appearance before Nigerian lawmakers, also claimed that the cost of maintaining the local currency has been increasing by over $22 million annually. Before Ahmad’s disclosure, Kingsley Moghalu, a former CBN deputy governor, had also told lawmakers that the central bank uses a

Shiba Inu (SHIB) fans and investors are eagerly awaiting the launch of the project’s layer-2 network, Shibarium. The launch was initially scheduled for Q3 2022 but was pushed due to development delays. However, the initiative is now in beta testing and will be ready for its debut very soon. According to BoneShibaSwap, a Twitter page dedicated to Shiba Inu’s offspring token BONE, there might be another hint that Shibarium is just around the corner. It turns out that visiting the Shibariumscan.com website redirects traffic to the Shibaswap website. The Twitter handle claims that this redirection means that “everything is being prepared.” #info #Bone $Bone $Shib #Shib #Leash Best information before 2023 A very, very important reason that #Shibarium is very, very close. If you check this domain https://t.co/ZzhwKZYUqI , you will directly enter the #Shibaswap website. It means that everything is being prepared. . . — BoneShibaSwap (@BoneShiba) December 29, 2022 However, it is

Source: AdobeStock / beeboys Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. __________ Security news The US Oregon Division of Financial Regulation (DFR) warned crypto investors to be careful of various scams within the crypto space, such as a recent one involving a website claiming to be managed by the US Department of State . The fake website said it was working to get FTX customer assets returned to them and asked for the investor’s FTX username and password, along with other account information. Investment news Technology company MicroStrategy purchased approximately 2,395 bitcoin (BTC) for $42.8 million in cash at an average price of approximately $17,871 per bitcoin, between November 1 and December 21 through its MacroStrategy subsidiary, according to a US Securities and Exchange Commission (SEC) filing. On December 22, it sold BTC for the first time,

DOGE has performed much better than SHIB this year, despite the Shiba Inu community actively working on a L2 network, Metaverse and blockchain games. Amid the severe crypto downturn in 2022, the price of Dogecoin (DOGE) has held up much better than most of the top assets on the market. DOGE is the third best performer in the top ten, dropping by 58% this year, beaten only by Ripple (XRP) and Binance Coin (BNB) which saw declines of 57.2% and 53.%. Looking at the top 10 assets in terms of market capitalization as per Crypto Bubbles data, Bitcoin (BTC), Ether (ETH), Cardano (ADA) and Polygon (MATIC) have all shed considerably more: 65.1%, 67.8%, 80.9 and 68.8% a piece over the past 12 months. DOGE also comes in well ahead of other big names in top 20 such as Polkadot (DOT), Solana (SOL), Uniswap (UNI) and Avalanche (AVAX) which have all plunged, by 84%, 93.8%, 70.3% and 89.9% each. Asset price nightmare 2022: Crypto Bubbles Data from Intotheblock (ITB) also has interesting insights, wi

Source: AdobeStock / Andrii Yalanskyi There is no deal (yet) in the acquisition talks between crypto lender Nexo and its rival Vauld , while the latter has less than a month to present a restructuring plan to creditors. Several news outlets have reported that the deal has been terminated altogether - though it remains unclear by whom, how, or when. The same reports noted, however, that Nexo reportedly stated that the talks are still ongoing. In a short statement for Cryptonews.com , the Singapore-based troubled crypto lender Vauld said that, To provide a very brief summary, our discussions with Nexo have unfortunately not come to fruition.  Per a Bloomberg report, Vauld said the same thing in an email to creditors on Monday. While it may imply so, this does not necessarily mean that the entire deal is off - leaving the issue unclear. Cryptonews.com reached out to Vauld and Nexo for further clarification but did not receive a reply by the publishing time. Meanwhile

Changpeng Zhao. Source: A video screenshot, Youtube/Entrepreneur ME Binance CEO Changpeng “CZ” Zhao has recently taken to Twitter to share what he thinks might be the reasons for the recent fear, uncertainty, and doubt (FUD) surrounding the crypto exchange. In a lengthy Twitter thread on Saturday, CZ shared nine potential reasons behind the recent FUD, all of which are external factors.  In the first place, CZ claimed that some simply attack Binance because they are not fond of centralization and centralized platforms. "Regardless if a CEX helps with crypto adoption at a faster rate, they just hate CEX," he said.  Secondly, he said some users who lose money on trading or experience external issues may blame the exchange. "Not all cases have black-and-white right-or-wrongs." The crypto billionaire also pointed out the increasing competition and lobbying against the exchange. He specifically hinted at the fact that crypto outlet The Block was secre

Financial institutions in Russia will not be able to communicate with clients through instant messengers based outside the country, local media revealed. A new law passed by the State Duma also prohibits banks from using chats to send personal data and payment documents. Bill Restricts Russian Banks and Brokers From Sending Sensitive Information Through Foreign Messengers Banks in the Russian Federation will not be allowed to contact their customers on a number of popular messengers, according to new legislation approved by the lower house of parliament. The ban applies to foreign-based platforms. A list of the affected apps is yet to be published by Roskomnadzor, the Federal Service for Supervision of Communications, Information Technology and Mass Media, but Telegram, Whatsapp, Viber, and the like fit the description, the business daily Kommersant reported. The draft law, passed by the State Duma in the third reading, also restricts the use of this type of messaging service for c

Join Our Telegram channel to stay up to date on breaking news coverage Bitcoin Will Attain New Highs as BTC Price Is Set to Break the $17K Hurdle – December 23, 2022 BTC/USD has been fluctuating below the $17,000 resistance level as BTC price is set to break the $17K hurdle. The current price rebound, which began on December 20, has been repelled, as Bitcoin has resumed a sideways move below the resistance level. The appearance of Doji candlesticks with small bodies has exacerbated this. Bitcoin Price Statistics Data: •Bitcoin price now – $16,826.79 •Bitcoin market cap – $323,785,912,262 •Bitcoin circulating supply – 19,241,806 BTC •Bitcoin total supply – $353,414,887,795 •Bitcoin Coinmarketcap ranking – # 1 Resistance Levels: $50,000, $55, 000, $60,000 Support Levels: $25,000, $20,000, $15,000 Bitcoin’s (BTC) price is falling below the moving average lines. The largest cryptocurrency recovered on December 20, reaching a high of $17,066. The bullish momentum was broken whe

Source: AdobeStock / Andriy Blokhin The United States Securities and Exchange Commission (SEC) has issued a warning regarding audits of cryptocurrency companies, saying that investors should be “very wary” about relying on a company’s proof-of-reserves. In a recent interview with the Wall Street Journal, Paul Munter, the SEC’s acting chief accountant, has warned investors "to be very wary of some of the claims   that are being made by crypto companies."  Following the unprecedented collapse of FTX, once the third-largest crypto exchange, which eroded user trust in centralized platforms, some exchanges started commissioning “proof-of-reserves” audits in order to ensure clients that their funds are safe.  A Proof of Reserves (PoR) is an independent check conducted on centralized crypto exchanges by third parties. The goal is to make sure those platforms hold the assets they claim on behalf of their clients. However, the PoR process is not enough alone. That

Twitter is now providing price charts with search results for major cryptocurrencies, such as bitcoin and ether. This new feature is “one of many product improvements coming to financial Twitter,” said Elon Musk, owner of the social media platform. Twitter Launches Price Chart Feature Twitter announced in a series of tweets Wednesday that it is now providing price charts for major stocks, exchange-traded funds (ETFs), and cryptocurrencies. “When you tweet the symbol of a major stock, ETF, or crypto currency with a $ in front of it (like $BTC), people on Twitter see a clickable link that takes them to search results,” the official Twitter Business account explained, adding: Starting today, these search results will include the pricing graphs for major symbols. The social media giant added: “You can also search for symbols directly, without clicking on a link within a tweet. Most symbols with and without the $ sign will work in search (QQQ or $QQQ).” Twitter continued: “In the comin

Join Our Telegram channel to stay up to date on breaking news coverage ​​Brazilian Footballer David Luiz is Now the Brand Ambassador for BC.GAME BC.GAME has announced that David Luiz, a Brazilian professional football player of the Flamengo team, has become its official brand ambassador. As the crypto casino’s brand ambassador, Luiz will consistently collaborate with BC.GAME to help promote the casino platform and engage with its community through social media and live-streaming platforms.  David Luiz as a Brand Ambassador for BC.GAME David Luiz ’s association with BC.GAME will not only help the crypto casino gain more exposure. As a BC.GAME ambassador and one of Brazil’s most prominent football players, he can connect the Brazilian football community with the crypto casino platform and grow the brand’s player base in Brazil.  David will primarily engage and connect with the crypto casino community through social media activities. He will also be connecting with many players

Coinbase has announced it has secured regulatory approval as a virtual asset service provider (VASP) in Ireland, according to a company blog post published on Dec. 21. According to the company, Coinbase has been approved by Ireland’s central bank which means the company can “provide products and services to individuals and institutions in Europe and internationally, from Ireland.” Coinbase Approved to Be a Regulated VASP by the Central Bank of Ireland On Dec. 21, 2022, Coinbase (Nasdaq: Coin) informed the public that it has been granted regulatory approval by the Central Bank of Ireland, a member of the European System of Central Banks. The news follows Singapore’s central bank giving Coinbase “in-principle approval” last October so the trading platform can operate as a VASP and provide products and services in the island state. Ireland’s central bank has approved Coinbase’s VASP registration as well, and the trading platform can continue to provide digital asset products and servic