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The United States Treasury faces a renewed legal challenge that aims to overturn the decision to sanction the crypto mixer Tornado Cash from six individuals backed by cryptocurrency exchange Coinbase.A motion for a partial summary judgment was filed on April 5 in a Texas District Court, the Coinbase-backed plaintiffs moved
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Bob Lee, the former chief technology officer of Square and creator of Cash App has died following a stabbing in San Fransisco in the early hours of Tuesday, April 4 local time.Bill Barhydt, the CEO of crypto wallet company Abra, tweeted on April 5 that Bob Lee "was killed in
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ANZ, one of Australia’s “Big Four” banks, will cease facilitating withdrawals and deposits from a number of its Australian branches as it looks to push its customers toward using an ever-dwindling number of ATMs and deposit machines.The decision has received pushback, with critics such as Patricia Sparrow, CEO of the
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American venture capital investor, Tim Draper, has advised company founders to plan and hold at least two payrolls worth of cash in bitcoin (BTC) or other cryptocurrencies. Preparing for the unforeseen Tim Draper has warned business founders to prepare for “more and more” bank failures if the government keeps printing money and
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American venture capital investor and entrepreneur Tim Draper advised founders to keep at least two payrolls worth of cash in Bitcoin (BTC) or alternative cryptocurrencies, in response to the uncertainty created by the collapse of Silicon Valley Bank (SVB).In a March 25 report directed at business founders, Tim Draper stated
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Nigeria has been struggling with a crippling cash shortage since the central bank started replacing old naira notes with new ones late last year. Currency in circulation has slumped to about 1 trillion naira from 3.2 trillion naira in September, Emefiele said, according to Bloomberg. The shortage of notes has
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While the Nigerian legislative body is optimistic about the country’s adoption of eNaira, there is still significant work to be done to enhance the digital infrastructure for financial practices in the country. Nigeria is witnessing an increasing adoption of its Central Bank Digital Currency (CBDC) as the country’s fiat money scarcity
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One of Africa’s fintech giants, Chipper Cash, is said to be weighing the possibility of selling the business or bringing in new investors. According to the CEO of the FTX and Silicon Valley Bank-backed fintech startup, Chipper Cash had insignificant exposure to both SVB and Signature Bank. Chipper Cash ‘Never
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An investigation into digital asset exchanges in the Russian capital has established that some of them are ready to buy digital coins and deliver paper money in the U.K. The transfer of funds does not usually involve the identification of the clients, Transparency International Russia reveals in a report. Russia-based Cryptocurrency
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The Federal Reserve Board reduced banking reserve requirements to zero in March 2020. Since that time, banks in the United States have not been required to actually hold any depositor money in the bank, making a flawed system — fractional reserve banking — worse. With Silvergate Bank, Silicon Valley Bank and
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