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Nigeria Unveils Amnesty Program to Recover Illegally Held Dollars Amid Forex Crisis

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Nigeria Unveils Amnesty Program to Recover Illegally Held Dollars Amid Forex Crisis
bitcoin.com
Nigeria Unveils Amnesty Program to Recover Illegally Held Dollars Amid Forex CrisisThe Nigerian government has announced a nine-month program allowing individuals to deposit U.S. dollars held outside the formal banking system without facing penalties or scrutiny. Finance Minister Wale Edun said his ministry will first issue guidelines for the program, followed promptly by additional guidelines from the Central Bank of Nigeria. Participating individuals will need to […]
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Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

JPMorgan’s Bold Call: Why Carry Trades May Be Facing Their Final Days

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JPMorgan’s Bold Call: Why Carry Trades May Be Facing Their Final Days
bitcoin.com
JPMorgan’s Bold Call: Why Carry Trades May Be Facing Their Final DaysA new JPMorgan report warns that carry trades are losing effectiveness as global interest rates decline, urging investors to be more selective with currency risks. The Japanese yen has lost appeal after unexpected rate hikes, while the Swiss franc carries potential bullish risks. JPMorgan suggests rethinking strategies as carry trade returns are expected to diminish […]
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Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Zimbabwe Injects $50 Million to Bolster Devalued Currency

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Zimbabwe Injects Million to Bolster Devalued Currency
bitcoin.com
Zimbabwe Injects Million to Bolster Devalued CurrencyThe Reserve Bank of Zimbabwe (RBZ) has injected an additional $50 million into the market to support the foreign exchange system. However, industry leaders believe the bank is not doing enough to facilitate the smooth operation of the market. They argue that the policy requiring companies to have no existing nostro balances before bidding for […]
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Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Nigeria’s Central Bank Raises Benchmark Rate by 50 Basis Points

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Nigeria’s Central Bank Raises Benchmark Rate by 50 Basis Points
bitcoin.com
Nigeria’s Central Bank Raises Benchmark Rate by 50 Basis PointsThe Central Bank of Nigeria (CBN) raised the Monetary Policy Rate (MPR) by 50 basis points to 27.25% and increased the Cash Reserve Ratio (CRR) for banks. These measures aim to combat inflation and stabilize the Nigerian economy. The CBN governor, Olayemi Cardoso, stated that the reforms implemented have restored the bank’s credibility and boosted […]
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Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Court Orders New York Man to Pay $36M for Forex, Digital Asset Fraud

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Court Orders New York Man to Pay M for Forex, Digital Asset Fraud
bitcoin.com
Court Orders New York Man to Pay M for Forex, Digital Asset FraudWilliam Koo Ichioka has been ordered to pay over $36 million after admitting to a forex and digital asset fraud scheme. His scam, which started in 2018, involved falsifying financial documents and misusing investor funds for personal luxuries like cars and jewelry. In addition to financial penalties, Ichioka faces prison time. The Commodity Futures Trading […]
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Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Ethiopia Announces Launch of Forex Auction Sale Days After Birr Float

Bitcoin.com
Ethiopia Announces Launch of Forex Auction Sale Days After Birr Float
bitcoin.com
Ethiopia Announces Launch of Forex Auction Sale Days After Birr FloatThe National Bank of Ethiopia (NBE) said it will conduct a special foreign exchange auction on Aug. 7. The Ethiopian central bank envisions similar auctions in the coming weeks, depending on market conditions. The NBE said banks keen on participating must submit their bids on the date of the sale. According to the Ethiopian apex […]
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Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Markets blow up, so ‘the best prep is to have a plan to buy fear and sell euphoria’ — Veteran trader

Coin Telegraph
Markets blow up, so ‘the best prep is to have a plan to buy fear and sell euphoria’ — Veteran trader
Black Monday

Pear Protocol founder HUF says “a limited pool of capital constantly rotating between narratives” is a clear sign of “late cycle behavior.”

Global markets blew up over the weekend, and the onslaught carried on throughout the trading day on Aug. 5 as the DOW and S&P 500 dropped by more than 1,000 points and Bitcoin (BTC) price fell below $49,000. Japan’s Nikkei 225 index saw its worst one-day correction since October 1987, and the sell-off in Taiwan’s benchmark stock index was the worst trading day in 57 years. 

Nearly all markets closed Aug.5 in the red, and while it seems too early to conclude that the selling is over, traders are likely wondering whether or not it’s time to start thinking like a contrarian and handpicking assets at a discount?

To discuss what’s happening in this week’s volatile market, Cointelegraph spoke to Huf, the founder of Pear Protocol, a decentralized exchange that allows traders to engage in trending narratives via pair trading.

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Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Nigeria Acts to Stabilize Currency with Forex Auction

Bitcoin.com
Nigeria Acts to Stabilize Currency with Forex Auction
Africa
Nigeria Acts to Stabilize Currency with Forex AuctionThe Central Bank of Nigeria (CBN) will reintroduce a foreign exchange auction system as part of efforts to ease pressure on the local currency. The CBN has called on authorized dealer banks to share their respective lists of outstanding forex demand by end users. Auction System Aims to Mitigate Impact of Dollar Shortage on Exchange […]
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Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

El Paso Man Fined $31M for Forex and Crypto Fraud

Bitcoin.com
El Paso Man Fined M for Forex and Crypto Fraud
bitcoin.com
El Paso Man Fined M for Forex and Crypto FraudA federal court has ordered Abner Alejandro Tinoco and his company, Kikit & Mess Investments LLC, to pay over $31 million for forex and cryptocurrency fraud. The order includes $6.2 million in restitution, $6.3 million in disgorgement, and an $18.8 million civil penalty. Tinoco and his firm defrauded 199 victims by misusing over $7.2 million […]
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Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Nigeria Acts to Defend Naira After Currency Hits New Record Low

Bitcoin.com
Nigeria Acts to Defend Naira After Currency Hits New Record Low
Africa
Nigeria Acts to Defend Naira After Currency Hits New Record LowThe Central Bank of Nigeria recently sold U.S. dollars to Bureaux de Change (BDC) at a flat rate of NGN1,450 per greenback. The central bank stated that eligible BDCs can sell the dollars to end-users at a margin of no more than 1.5% above the purchase exchange rate. The Nigerian apex bank disclosed that it […]
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Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

Binance Reveals First Crypto ‘Vote to List’ Results—Only 4 Tokens Pass the Final Cut

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