Farzam Ehsani, the founder and CEO of the South African crypto exchange Valr, has stated that institutional traders account for the bulk of the African continent’s crypto trading volumes. To support this point, Ehsani referred to Valr’s largest volumes which he said “are executed via our API by institutional traders deploying a host of programmatic trading strategies.”
African Regulators…
Japan Mulls Exempting Companies From Paying Taxes on Unrealized Cryptocurrency Gains
December 9, 2023
Japan is considering exempting corporations from paying unrealized gains income taxes related to cryptocurrency holdings. The measure, proposed as part of a reform in Japan’s tax code, would allow companies to avoid paying taxes for cryptocurrencies even if their market…
El Salvador has unveiled a new citizenship investment program, the “Freedom Visa,” open to a limited number of applicants. By investing $1 million in bitcoin or tether, participants can secure Salvadoran citizenship.
El Salvador’s Bold Bid: Citizenship for Crypto…
Venezuelan Attorney General Alleges Exxonmobil Financed Opposition to Essequibo's Ballot With Cryptocurrency
December 9, 2023
Tarek William Saab, the Venezuelan attorney general, stated that Exxonmobil, a U.S.-based oil and gas company, used intermediaries and cryptocurrency to finance actions against the ballot where Venezuelans were consulted about their position on the ongoing Essequibo claim. Fourteen arrest warrants were issued for individuals who allegedly conspired against the country.
Exxonmobil Used…
Crypto exchange Binance has withdrawn its application for a license in Abu Dhabi. “When assessing our global licensing needs, we decided this application was not necessary,” a Binance spokesperson stated, adding that the company plans to continue to work with regulators…
Institutional Traders' BTC Holding Percentage Increased 'Almost Twofold' Between January and September
December 9, 2023
The bitcoin held by institutional traders (INS) in their respective crypto portfolios saw an “almost twofold” increase in the initial three quarters of 2023. Institutional traders’ BTC allocation shifted from under 40% in January to nearly 50% by the end of…
Nigerian Crypto Firm Bitmama to Pay $1 Million for Startup That Raised $3 Million in February
December 9, 2023
The Nigerian crypto platform Bitmama is reportedly set to acquire the African remittances startup Payday for $1 million. Reports of Payday’s acquisition come almost a year after the startup raised $3 million in a funding round.
Bitmama’s Pivot From Crypto
The Nigerian crypto platform Bitmama is set to acquire the cross-border payment startup Payday for a reported sum of $1 million. The…
As bitcoin stabilizes near $43,654, its market dynamics reveal a mixture of optimism and caution. Oscillators are currently in a neutral to bearish state, and moving averages are indicating a robust buying trend, creating a complex scenario for investors.
Bitcoin
Presently…
On Friday, December 8, 2023, ethereum’s trading concluded with a 4% rise, settling at $2,358. This jump was observed within a daily trading range from $2,245 to $2,385. Underlying this upward trajectory was ether’s market cap of $283 billion, accompanied by a strong…
This Week’s Biggest Gainers and Losers: BONK, ORDI, BTT Lead Triple-Digit Growth in Booming Crypto Market
December 9, 2023
In the last week, bitcoin’s value surged by over 14% while ethereum also experienced a notable 13% increase against the U.S. dollar. Alongside these top contenders, a considerable number of other cryptocurrencies have also enjoyed substantial gains throughout the seven-day span.
Top Coins Thrive as Market Value Hits $1.7 Trillion
Currently, the crypto market, featuring over 11,000…
