Nomba, a Nigerian fintech startup, has successfully raised $30 million in a pre-Series B funding round. The equity round was led by San Francisco-based Base10 Partners and saw participation from Helios Digital Ventures, Shopify, Partech, and Khosla Ventures. The startup, formerly known as Kudi, plans to use the investment to develop a payments solution that
Bitcoin
According to Kommersant, Russia saw seven placements of digital financial assets (DFAs) worth about 1 billion rubles ($13 million) in April. DFAs are a relatively new type of asset defined in Russia’s “On Digital Financial Assets” law, which came into effect in January 2021. Unlike decentralized cryptocurrencies, DFAs represent “digital rights” to securities or utility
As of May 6, 2023, the total value locked (TVL) across all defi platforms has reached $49.31 billion. Lido Finance currently leads the pack with a 24.82% share of $12.24 billion. Over the past month, Lido’s TVL has grown by 9%, while posting a moderate 2.42% increase in the preceding week. This growth has helped
The Bitcoin network is currently experiencing a significant traffic jam with an overwhelming number of unconfirmed transactions. As of May 7, 2023, the latest statistics reveal that over 390,000 transfers are currently stuck in limbo, waiting for confirmation. The backlog is a result of the surge in minting and transferring of BRC20 tokens and Ordinal
Bitcoin Cash is set for a network upgrade on May 15 and one of the most discussed improvement proposals is the Cashtokens CHIP. Pro-freedom technologies advocate and software developer, Jason Dreyzehner, believes the upgrade will permit advanced on-chain applications, such as higher-security vaults, decentralized exchanges, and bridged sidechains, making it comparable to ethereum, more scalable,
As the competition for dominance among established cryptocurrencies continues, a new wave of digital assets has emerged in the crypto sphere. One of these new currencies is SUI, whose network went live on Wednesday. About SUI The founders of SUI come from Mysten Labs, and like Aptos, its founders stem from Facebook’s crypto project. SUI
Federal Reserve Chair Jerome Powell has issued a warning about the possible consequences of a U.S. debt default. The economic impact could be highly uncertain and adverse, he warned, adding that nobody should assume that the Fed could protect the economy from the short and long-term effects of failing to pay bills on time. Powell’s
Amid Argentina’s ongoing financial and economic crisis, Brazilian President Luiz Inacio Lula da Silva has pledged to act as a link between Argentina and the BRICS bloc. The BRICS bloc is made up of Brazil, Russia, India, China, and South Africa. Lula’s commitment is to facilitate economic assistance to help Argentina in its current crisis.
Onchain Studios, the Miami-based startup, has recently launched a new line of digital collectibles named Cryptoys, featuring classic Star Wars characters like Darth Vader, Luke Skywalker, and Princess Leia. The company partnered with Disney to bring the latest collection to the market. The digital action figures will be accompanied by powerful weapons and will come
The US economy is grappling with a triple threat of challenges, including surging inflation, high interest rates, and a banking industry in turmoil. This situation has been exacerbated since Silvergate Bank announced its decision to cease operations and liquidate assets on March 8, 2023. This decision has triggered a series of significant bank failures, including