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))
After experiencing a slump in September, with a trading volume of $30.22 billion, decentralized exchange (dex) activity saw a surge in October, climbing by over 32% to $39.98 billion. The momentum in dex trade volume has been consistent in November, with the past week alone accounting for $15 billion in trades.
news.bitcoin.com/dex-trade-volumes-jumped-32-in-october-novembers-first-week-ends-with-strong-activity/
Ark Investment Management and 21Shares, which have been seeking an ETF approval since 2021, filed for their first potential bitcoin ETF applications again earlier this year after a second effort was rebuffed by the SEC. The SEC has rejected spot bitcoin ETF products on grounds of potential market manipulation and inadequate investor protections against harmful activity.
If an ETF is approved, it would give a broader swath of the general investing public access to trading and holding bitcoin's value without having to hold the digital asset itself.
www.coindesk.com/policy/2023/08/11/ark-21shares-bitcoin-etf-application-decision-pushed-by-sec/
Yesterday, Nasdaq, the prominent, tech-forward U.S. stock exchange, announced it is calling off plans to launch a cryptocurrency custody service. The new business line, which would have been regulated as a special purpose trust in New York, was slated to launch in the second quarter of this year.
Based on recent data, over ten million ethereum is now secured within liquid staking derivatives platforms, with a valuation close to $20 billion at current exchange rates. Two leading liquid staking decentralized finance (defi) protocols, Lido Finance, and Rocket Pool, experienced 30-day growth rates ranging from 7.57% to 9.69%.
Ethereum’s Liquid Staking Derivatives Platforms Near $20 Billion Valuation with 10 Million Ether Locked
As of July 2, 2023, more than ten million ethereum (ETH) is locked in liquid staking defi platforms. At the time of reporting, approximately 10.11 ETH is locked, with a value of $19.456 billion using today’s exchange rates. Lido, the top-ranking liquid staking derivatives protocol, claims a remarkable 74.51% market share as it holds roughly 7,530,330 ether as of Sunday morning at 8:00 a.m. Eastern Time, according to defillama.com.
news.bitcoin.com/liquid-staking-defi-platforms-now-secure-over-10-million-ethereum-worth-close-to-20b/
As the United States stares down the barrel of a potential debt default come June, a curious and intriguing solution has emerged: crafting a single null trillion platinum coin. This unusual tactic exploits a legal loophole that allows the Treasury Department to mint platinum coins of any value. By delivering such a coin to the U.S. central bank, the Treasury would create enough funds to settle its debts. Though this proposal might sound bizarre, it’s gained traction as a potential escape route from the impending debt catastrophe.
news.bitcoin.com/biden-aides-explore-minting-1-trillion-platinum-coin-as-solution-to-impending-debt-default/
Though Coinbase’s (COIN) current revenue from staking is relatively small, there is potential for speedy growth if the U.S. Securities and Exchange Commission (SEC) doesn’t crack down on the service altogether.
Speaking one day after his agency extracted from Kraken a $30 million fine and an agreement to shut down its U.S. staking-as-a-service operation, SEC Chair Gary Gensler warned other platforms to “take note,” hinting at possible further investigations into other U.S.-based crypto exchanges.
www.coindesk.com/business/2023/02/10/coinbases-staking-service-faces-questions-after-krakens-sec-settlement/
The White House has published a “roadmap to mitigate cryptocurrencies’ risks.” The roadmap calls for authorities to “ramp up enforcement where appropriate” and Congress “to step up its efforts” to regulate the crypto sector. It also notes that legislation should not greenlight mainstream institutions “to dive headlong into cryptocurrency markets.”
news.bitcoin.com/white-house-publishes-roadmap-to-mitigate-cryptocurrency-risks/