- Binance Will Discontinue Its Nigerian Naira Services After Government Scrutiny
Binance plans to discontinue its Nigerian Naira (NGN) services following increased scrutiny from the country’s regulators.
The crypto exchange will delist any existing NGN pairs by Thursday, and on Friday any remaining NGN balances in a user account will be converted to USDT.
“Users are encouraged to withdraw NGN, trade their NGN assets or convert NGN into crypto prior to the discontinuation of these NGN services,” a company blog post said on Tuesday.
- MicroStrategy Stock Surges 24% as Bitcoin Nears All-Time High Price
Bitcoin-loving software firm company MicroStrategy’s stock is through the roof as the biggest digital currency approaches a new all-time high.
MicroStrategy—which trades on the Nasdaq under the ticker MSTR—was up nearly 24% when trading closed Monday. Shares are now priced at $1,334 a pop, the highest price seen in nearly two decades.
Today, MicroStrategy announced that it plans to offer a private sale of $600 million worth of convertible senior notes in order to purchase more of the asset.
https://decrypt.co/220150/microstrategy-stock-bitcoin-near-all-time-high-price
- Deutsche Börse launches spot cryptocurrency trading platform
Deutsche Börse noted that initial trading on the DBDX will take place on a request-for-quote (RfQ) basis, which is used when a business solicits quotes from select suppliers and contractors.
The RfQ trading will be followed by a multilateral trading facility, which is a trading system facilitating the exchange of financial instruments between multiple parties.
The DBDX plans to provide its crypto trading services to clients in Germany and other European markets, the announcement notes.
“Our new solution is a game changer for digital ecosystems. We aim to provide trusted market operations for crypto assets, ensuring transparency, security, and regulatory compliance for institutional clients in Europe,” Deutsche Börse’s head of digital assets, Carlo Kölzer, noted.
https://cointelegraph.com/news/deutsche-borse-spot-crypto-trading-platform
- South Korea May Revoke Crypto Exchange Licenses for Unfair Practices
According to PANews, South Korea’s Financial Services Commission (FSC) has proposed amendments to the Specific Financial Information Act (SFIA) on February 28th, which could lead to the revocation of virtual asset business licenses for companies engaging in unfair practices. The FSC has been accepting opinions from relevant industries until March 4th.
One of the proposed changes includes the possibility of canceling a company’s virtual asset business license if they receive listing kickbacks through virtual asset exchanges. This comes after the SFIA was amended last month to strengthen the requirements for virtual asset companies.
- Bitcoin Miner Bitdeer Says It Has Launched Its ‘First Cryptocurrency Mining Chip’
Bitdeer, a leading bitcoin mining firm, has launched what it describes as its first cryptocurrency mining chip. According to Bitdeer, the mining chip, known as SEAL01, was designed using an advanced 4-nanometer (nm) process. This design enables the chip to reportedly attain an efficiency ratio of 18.1 joules per terahash (J/TH).
In a statement shared via X (formerly known as Twitter), Bitdeer said the chip could potentially enhance bitcoin mining performance without consuming excessive power. These attributes help bitcoin miners minimize their operating costs, leading to improved financial performance. The chip is set to be seamlessly integrated into Bitdeer’s mining rig, the Sealminer A1.
- Crypto Liquidations Cross $550M as Bitcoin Remains Volatile Ahead of Historic Highs
Crypto-tracked futures amassed over $550 million in losses in the past 24 hours as bitcoin (BTC) jumped, then dumped, from the $68,000 level – sparking volatile price action that stunned bulls and bears alike.
Bitcoin and ether (ETH) briefly inched above $68,500 and $3,700, respectively, as euphoria from multiple catalysts continued into its second week. But profit-taking began in early Asian hours, with bitcoin falling to as low as $64,500 before regaining the $67,000 level.
The broader CoinDesk 20 index (CD20), rose over 6%.
- Terraform Labs Hits Back at SEC ‘Government Overreach’ Over Special Counsel Payment
Terraform Labs has pushed back against the U.S. Securities and Exchange Commission’s (SEC) objection to a $166 million retainer paid to law firm Dentons.
In a court filing, the bankrupt crypto firm called the SEC’s objection a “troubling example of government overreach,” arguing that its motive for doing so was “to disadvantage and distract and adversary on the eve of trial.”
Terraform Labs argued that the court should overrule the SEC’s objections, which it described as “replete with misapplications of law and factual misstatements,” and approve its retainer to the legal firm..
https://decrypt.co/220195/terraform-labs-sec-government-overreach
- Virginia passes crypto-friendly bill to foster blockchain expansion
he Virginia Senate in the United States passed a landmark bill creating a workgroup dedicated to studying the overall crypto ecosystem and making recommendations to foster the tech’s expansion.
On Feb. 5, Virginia lawmakers introduced Senate Bill No. 339 to get recommendations on fostering and expanding blockchain technology, digital asset mining and cryptocurrency in the state.
The Virginia House of Delegates passed the bill on March 4 with 97 members in favor, one against and two choosing to abstain from voting.
Senator Saddam Azlan Salim proposed the bill on Jan. 9, which aims to exempt miners from obtaining money transmitter licenses and prohibits targeted ordinances:
“No license under this chapter shall be required of any person engaging in-home digital asset 37 mining, digital asset mining, or digital asset mining business activities, as those terms are defined in § 38 15.2-2288.9.”
https://cointelegraph.com/news/virginia-crypto-bill-blockchain-mining-expansion
- South Korea’s Personal Information Protection Committee Investigates Worldcoin Over Privacy Concerns
According to PANews, South Korea’s Personal Information Protection Committee (PIPC) has announced an investigation into Worldcoin due to concerns over the project’s collection of sensitive information. The investigation will focus on Worldcoin’s practices of collecting, processing, and potentially transferring sensitive personal information across borders, and will take action if any violations of local privacy regulations are discovered.
Worldcoin offers cryptocurrency in exchange for scanning people’s irises, and the project has collected information on people’s faces and irises at ten locations across South Korea.
- Microstrategy to Buy More Bitcoin With Proceeds From $600M Convertible Note Sale
Microstrategy Inc. (Nasdaq: MSTR) announced on Monday a plan to issue $600 million in convertible senior notes, with a portion of the proceeds to be used for bitcoin purchases.
“The notes will be unsecured, senior obligations of Microstrategy and will bear interest payable semi-annually in arrears on March 15 and September 15 of each year, beginning on September 15, 2024. The notes will mature on March 15, 2030, unless earlier repurchased, redeemed, or converted in accordance with their terms,” the company explained, adding:
Microstrategy intends to use the net proceeds from the sale of the notes to acquire additional bitcoin and for general corporate purposes.
