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The new investment aims to strengthen CityPay.io’s expansion into Eastern Europe, specifically into Georgia, Armenia, Azerbaijan, Kazakhstan and Uzbekistan.

Tether scales crypto payments in Eastern Europe with new investment

Stablecoin giant Tether is increasing its bets on cryptocurrency adoption in Eastern Europe with additional investment in the Georgia-based crypto payment provider CityPay.io. Te...

4 months ago

According to Uwakwe, the head of Nigeria’s crypto intercommunity working group, investors worry about potential repercussions similar to Binance’s fate when investing in local Web3 companies.

Nigeria’s Binance crackdown threatens Web3 industry

Nigeria is feeling the consequences of actions against Binance executives, with investors withdrawing from deals and partnerships, particularly in the web3 sector. They mention Nigeria’s p...

4 months ago

A fraudulent crypto exchange platform used AI-generated videos of Elon Musk and misleading information to promote crypto trading services.

Elaborate Elon Musk deepfake crypto fraud uncovered in Hong Kong

Hong Kong authorities closed in on an unlicensed, fraudulent cryptocurrency exchange that faked affiliation with Tesla CEO and Dogecoin proponent Elon Musk. The Hong Kong Securiti...

4 months ago

Mango DAO distributed treasury funds to token holders through a buyback program, but critics claim it was done to benefit an FTX estate buyer.

Mango Markets DAO buyback plan leads to accusations of ‘self-dealing’

An April 7 plan to buy back tokens at a premium to market price has led to controversy within the governing body of decentralized finance protocol Mango Markets. Some community m...

4 months ago

Tom Brady copped heat from comedians for his role in partnering with the now-defunct crypto exchange FTX.

Tom Brady roasted on crypto in Netflix special — ‘How did you fall for that?’

Former pro footballer Tom Brady was grilled by comedians and former teammates during a Netflix-streamed roast, and quips about his role in promoting the bankrupt crypto exchange FTX were some of...

4 months ago

Daily revenue from Bitcoin mining dropped to under $3 million from the previous daily average of roughly $6 million in the first four months of 2024.

Bitcoin mining revenue hits post-halving yearly low

Earnings from Bitcoin mining dropped significantly in May as the effects of the fourth Bitcoin halving event set in. The Bitcoin halving mechanism was designed to incre...

4 months ago

Fitch Ratings notes that Block has used convertible debt for external funding since its IPO and is well-positioned to exploit the growth in payments and consumer financial services.

Jack Dorsey’s Block to raise $1.5B in senior notes offering

Fintech firm Block (formerly Square) announced plans on May 6 to issue $1.5 billion in senior notes through a private placement to qualified institutional investors. Th...

4 months ago

Revolut announced its new Revolut X crypto trading platform for U.K. retail users, which it claims will offer fixed low fees and easy fiat-to-crypto conversion.

Revolut debuts dedicated crypto exchange for UK users

The fintech company and global neobank Revolut made a notable move into the cryptocurrency sphere by quietly introducing a specialized crypto trading platform for retail customers in the United ...

4 months ago

The SEC is planning to file an “enforcement action” against Robinhood’s cryptocurrency business, according to the Wells notice.

Robinhood crypto business slapped with SEC Wells notice

The United States Securities and Exchange Commission (SEC) has issued a Wells notice to the popular trading platform Robinhood. Following the news of the Wells notice, Robinhood’...

4 months ago

Stronghold announced its first quarter results for 2024 and revealed that it is considering a range of options to increase shareholder value including selling the business.

Nasdaq-listed mining firm Stronghold Digital Mining for sale?

Stronghold Digital Mining is considering selling the company in an effort to maximize shareholder value, according to its first-quarter financial report. Information shared with Cointe...

4 months ago