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USDT
Russian companies, including prominent oil traders, are increasingly turning to cryptocurrencies such as Bitcoin and Tether's USDT to facilitate international trade with China and India.
The Ripple-based token rallied strongly during the mid-week trading session, posting an intra-day gain of about 8% for the day as it looked set to breach the $2.55 mark.
Tether’s flagship stablecoin, USDT, is under increased scrutiny in the European Union as the region’s landmark Markets in Crypto-Assets (MiCA) regulation nears full implementation on December 30, 2024.
Tether, the world’s largest stablecoin by market share has minted about $3 billion USDT in 24 hours.
The Federal Government of Nigeria has filed criminal charges against four Nigerian crypto dealers and several firms over allegations of conducting the business of other financial institutions without a valid banking license, including USDT to Naira transactions.
It has been a tumultuous twenty-four hours after the exchange rate between the naira and USDT, plummeted to approximately N1900/USDT before subsequently rising to N1354.3.
Crypto trading platform, Binance, it has taken some actions to adjust trading on its platform by Nigerians to address what it described as an unusual currency movement.
Nigeria's burgeoning interest in cryptocurrency assets is being fueled by its strong need for US dollars, as evidenced by the high interest for stablecoins according to Google search statistics.
A consortium of Nigerian financial institutions, fintechs, and blockchain experts, the Africa Stablecoin Consortium (ASC) is set to launch a compliant Nigeria Naira (cNGN) stablecoin on February 27, 2024.
A popular method of buying and selling crypto is through Peer-to-peer, otherwise known as P2P trading is a system of buying and platform.
Cryptocurrency has gained significant popularity over the years, and many individuals are now actively participating in the digital asset market.
In a report published on June 28 by TRM Labs, a prominent blockchain intelligence firm, an astonishing $7.8 billion was paid out to cryptocurrency pyramid and Ponzi schemes worldwide in 2022.