Lesaka Technologies, a fintech startup based in South Africa, recently signed a deal to acquire Adumo, a payment solutions provider, for nearly $ 86 million. Under the terms of the agreement, Lesaka Technologies will pay Adumo $ 12.5 million in cash. The funds will be sourced both internally and from external financiers. [news.bitcoin.com/south-african-fintech-startup-leseka-tech-signs-deal-to-buy-payments-provider-for-86m/**](https://news.bitcoin.com/south-african-fintech-startup-leseka-tech-signs-deal-to-buy-payments-provider-for-86m/](https://news.bitcoin.com/south-african-fintech-startup-leseka-tech-signs-deal-to-buy-payments-provider-for-86m/))
Ark Invest and 21shares have revised their proposal for a spot ethereum exchange-traded fund (ETF), removing previously included options for staking. This change marks a significant pivot from their earlier filings, which had contemplated engaging trusted staking providers to manage part of the trust’s assets. [news.bitcoin.com/ark-invest-removes-staking-option-from-latest-ethereum-etf-proposal/**](https://news.bitcoin.com/ark-invest-removes-staking-option-from-latest-ethereum-etf-proposal/](https://news.bitcoin.com/ark-invest-removes-staking-option-from-latest-ethereum-etf-proposal/))
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Stakeholders in Nigeria’s cryptocurrency sector argue that the Central Bank of Nigeria’s previous decision to exclude cryptocurrency entities from the banking ecosystem has fueled the growth of peer-to-peer crypto trading. Nigerian authorities are reportedly seeking to ban peer-to-peer crypto trading. One stakeholder has urged participants in the Nigerian crypto space to ‘identify the bad actors and inform the government. [news.bitcoin.com/nigerian-experts-say-past-central-bank-policies-drove-users-to-p2p-crypto-platforms/#google_vignette**](https://news.bitcoin.com/nigerian-experts-say-past-central-bank-policies-drove-users-to-p2p-crypto-platforms/#google_vignette](https://news.bitcoin.com/nigerian-experts-say-past-central-bank-policies-drove-users-to-p2p-crypto-platforms/#google_vignette))
The scarcity of the bitcoin supply has tightened, as revealed by the recent Glassnode study on onchain activities. Observations show that the inactivity of coins is touching both multi-year and unprecedented peaks, despite a substantial uptick in bitcoin’s value throughout the current year.
news.bitcoin.com/glassnode-data-shows-bitcoin-supply-less-liquid-than-ever-despite-market-gains/
Over the past 24 hours, crypto Twitter has found a new Web3 social app to obsess over.
On Thursday afternoon, friend.tech, a decentralized platform that calls itself “the marketplace for your friends” opened its invite-only beta test. The app essentially allows users to tokenize their social network and is built on Base, crypto exchange Coinbase’s new layer 2 network.
www.coindesk.com/web3/2023/08/11/is-friendtech-a-friend-or-foe-a-dive-into-the-new-social-app-driving-millions-in-trading-volume/
Meme Coins Like PEPE and DOGE Are Anything but a JokeThese tokens can draw a large audience, but also taint the general public's understanding of crypto.
www.coindesk.com/consensus-magazine/2023/07/20/memecoins-are-anything-but-a-joke/
The market capitalization of the stablecoin economy on July 2, 2023, has fallen below the $129 billion mark to the current $128.21 billion, according to statistics. Just over $2 billion in stablecoins have been withdrawn from the stablecoin token economy since May 28.
news.bitcoin.com/redemptions-plague-stablecoin-economy-wiping-out-over-2-billion-in-june/
A growing number of malware creators are now taking advantage of the significant interest in Chatgpt to lure victims, Facebook owner Meta has noticed. According to its head of information security, the AI-based chatbot is “the new crypto” for bad actors and the social media giant is preparing for various abuses.
news.bitcoin.com/chatgpt-is-the-new-crypto-meta-says-malware-actors-exploit-ai-craze/
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is warning other platforms to "take note" of crypto exchange Kraken's move to halt its staking service in the country and cough up a $30 million fine.
"Companies like Kraken can offer investment contracts and investment schemes, but they have to have full, fair and truthful disclosure. And this puts the investors who watch your program in a better position. That's our basic bargain. They were not complying with that basic law," Gensler said during a Friday appearance on CNBC's "Squawk Box."
www.coindesk.com/policy/2023/02/10/sec-chief-gensler-warns-crypto-firms-to-comply-with-rules-after-kraken-shutters-staking-program/
The United States Federal Reserve Board said on Jan. 27 that both insured and uninsured banks will be subjected to limits on certain activities including those that are associated with crypto assets. The board’s latest action does not preclude a state member bank or prospective applicant from providing crypto-assets safekeeping services.
news.bitcoin.com/us-federal-reserve-board-issues-policy-statement-that-limits-banks-crypto-related-activities/