The CBN Says Nigeria Will Have a Digital Currency Before End of Year

Nigeria is likely to have its own central bank digital currency (CBDC) by the end of the year, an official with the Central Bank of Nigeria (CBN) has said. In his remarks following the bankers’ committee meeting, Rakiya Mohammed, who is the director of information technology at CBN, also revealed that this “digital currency would be accessible to all Nigerians.” Stakeholder Involvement However, according to a report which quotes the IT director, the CBN’s digital currency will be unlike privately issued cryptocurrencies such as bitcoin, which a Nigerian senator has…

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Solana (SOL) and Enzyme (MLN) rally while the wider market remains flat

A rapidly growing ecosystem and recent Coinbase listings helped SOL and MLN bounce back from recent lows while the wider market trades sideways. Significant price corrections like the one see in May inflict widespread pain for a majority of market participants and can be a death sentence for struggling projects as token holders capitulate and dump their holdings for any price offered.  While these periods are useful to help shakeout the weak hands and weed out unnecessary projects, they also offer strong performers the opportunity to stand out from the…

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Bank of Namibia Warns Crypto Traders It ‘Will Not Entertain Complaints’ if They Get Scammed

The Bank of Namibia (BON) has warned individuals investing in cryptocurrencies that it will not entertain their complaints should they get scammed. The institution argues that since its mandate does not currently cover digital currencies, it lacks the “legal power” to follow up on such complaints. Growing Namibian Interest in Crypto This latest BON warning about risks associated with cryptocurrency trading comes as Namibia is seeing increased reports of crypto investors losing money to scammers. As noted in one report, the scammers are using the promise of high returns as…

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Basketball star turned digital racehorse tycoon: Wilson Chandler on NFTs and the NBA

A journey that started with trading shitcoins has now become a growing passion for NFTs — part of a wider wave of NBA players and cultural tastemakers taking over the blockchain space. As Wilson Chandler tells it, despite being a NBA star with a decade-plus pro career and nearly $80 million in career earnings, the 6’8 combo forward still got his start in blockchain the same way scores of enthusiasts do: trading shitcoins.  Chandler told Cointelegraph that he first heard about crypto from some “kids” he played Fortnite with in…

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An NFT of the photo that inspired Dogecoin just sold for $4M

That picture of a dog staring into the camera in formal posture.. you know, the one that sparked the Doge meme? Someone just sold it for millions in Ether. Dogecoin has seen significant attention in 2021 in tandem with its dramatic price rise. Capitalizing on this rise in attention, someone sold a non-fungible token (NFT) of the picture on which the Dogecoin (DOGE) cryptocurrency was based.  “The original image that started it all,” read the description of the NFT, sold on very.auction. “This photo of the Shiba Inu ‘Kabosu’ was taken…

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Why Ron Paul Is Bullish On Liberty And Bitcoin

The legendary politician, who advocated for many of the underlying principles present in sound money, believes liberty is inherent to Bitcoin. One of the most exciting moments for me personally at Bitcoin 2021 was getting the chance to interview Dr. Ron Paul. A true pioneer in libertarianism, Dr. Paul is an advocate for so many of the underlying principles present in Bitcoin. It was truly an honor and privilege to get a quick word from him on his thoughts about Bitcoin. Be sure to watch his Bitcoin 2021 speech on…

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Altcoin Roundup: Market cycle analysis screamed ‘take profit’ ahead of May 19 sell-off

Even grandma was bullish on Bitcoin in April, but market cycle analysis shows it was past time to take profit. Welcome to Cointelegraph Market’s weekly newsletter. This week we will identify emerging-sector trends across the cryptocurrency landscape in order to broaden your understanding of market cycles and better equip readers to take advantage of the microcycles that are a regular occurrence in the larger market structure. The cryptocurrency sector has an established reputation for being volatile and fast-moving, and these characteristics were on full display in May as the rapid…

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Thai SEC bans exchanges from handling certain token types including NFTs

Local exchanges now have until July 11 to update their rules for listing tokens in order to be in compliance with SEC guidelines. Thailand’s Securities and Exchange Commission has approved guidelines prohibiting crypto exchanges in the country from supporting four different types of tokens in certain cases. In a Friday announcement from the Thai SEC, the regulatory body said that Secretary-General Ruenvadee Suwanmongkol had approved crypto exchange guidelines, Notification 18/2564 on “Rules, Conditions and Procedures for Undertaking Digital Asset Business,” on Wednesday to go into effect. The new rules ban…

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A man and his S.C.A.M.: Solo dev ‘Dreesus’ on making a memecoin legit

After minting a memecoin, a solo developer now has to grow his Frankenstein creation into a success. You might not know Dreesus, but if you’ve been following crypto the last few months you’re likely familiar with his work. Following the launch of his Simple Cool Automatic Money ($SCAM) token, the pseudonymous developer garnered coverage from a seemingly endless list of mainstream and cryptomedia publications, including Vice, The Wall Street Journal, Benzinga, Mic, The Verge, The Week, and CNBC, among others. Launched in early May at the peak of the memecoin…

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Price analysis 6/11: BTC, ETH, BNB, ADA, DOGE, XRP, DOT, UNI, LTC, BCH

Bitcoin and most altcoins could be gearing up for a few days of range-bound action as bulls buy on dips and bears sell on rallies. Bitcoin’s (BTC) failure to rise above the critical $40,000 to $42,000 resistance zone is keeping crypto traders on tenterhooks. Some analysts view the sharp rebound from $31,000 level as a sign of accumulation at lower levels while others believe the failure to cross above the overhead resistance indicates that Bitcoin is still not out of the woods yet. JPMorgan’s cryptocurrency market analysts, led by global…

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