After being called Buycoins for the past three years, the exchange and all the products created by its team will now be housed under the new parent company, Helicarrier.
Alexander O. Onukwue
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Moses Francis has had a heart-breaking Wednesday. Looking at his Binance app, every graph is red. He holds four coins – Tron, Doge, Litecoin and Ripple. They have been bleeding value all day.
âIâve been holding for over a year now. Iâve come across a lot of dips. But I havenât encountered one as bad as this,â he says to TechCabal.
Francis is not alone. In Nigeria, thousands of users have felt burned on a day of massive slumps in value of virtually every notable cryptocurrency traded across the globe. âBitcoinâ, âBinanceâ, âElon Muskâ and âCryptoâ are among top trends on Twitter.
Nigeria rewarding users of mainstream remittance channels to combat digital currency use Business
Nigeria’s central bank is not a big fan of digital currencies. In its latest effort to clamp down on the nascent industry, it is now rewarding citizens who opt for formal remittance channels over digital currency-powered platforms. It does this at a time when inflows via mainstream channels have plummeted by over 97%.
The Central Bank of Nigeria (CBN) announced its “Naira 4 Dollar Scheme” recently, targeting diaspora remittances.
“In an effort to sustain the encouraging increase in inflows of diaspora remittances into the country, the Central Bank of Nigeria hereby announces the introduction of the “CBN Naira 4 Dollars Scheme”, an incentive for senders and recipients of international money transfers,” the notice reads.