Crypto exchanges block deposits via state-backed system
Crypto exchanges CoinSwitch Kuber and WazirX have disabled rupee deposits for the purchase of cryptocurrency using UPI, a state-backed transfer system. The decision follows a statement last week by the National Payments Corporation of India saying it was not aware of any crypto exchange using its United Payments Interface (UPI) framework to conduct transactions.
Crypto prices today: Bitcoin up 0.1%, ETH rises 1.3%
Bitcoin is currently trading at $40,148, a 0.1% increase over the previous day. Ethereum is up 1.3% over the last 24 hours to $3,054.84. Solana rose 1.46% to $103.93, while Cardano is trading higher by 0.84% at $0.94. Avalanche (AVAX) rose 0.15% to $77.2. The global crypto market cap stands at $2.03 trillion, a 9.43% increase over the previous day.
Over one-third of Nigerians are invested in Bitcoin, other cryptos: Report
As per a Bitcoin Magazine report, nearly 35% or 33.4 million Nigerian adults have owned or traded Bitcoin or some form of crypto over the past 6 months. The report cited a report ‘Into The Cryptoverse’ released by KuCoin, which looked at the penetration of cryptos in various country demographics. Meanwhile, the Nigerian currency Naira has depreciated 209% over the past six years. More than 37% of crypto investors have entered the space over the past three years.
Crypto firm MoonPay raises $87M from high profile celebs
Crypto payments startup MoonPay has raised $87 million from more than 60 high-profile investors, including singer Justin Bieber, rapper Snoop Dogg, tennis player Maria Sharapova, and actor Bruce Willis. The investments are part of the firm’s Series A round, which valued the company at $3.4 billion. MoonPay provides payment infrastructure for crypto and NFT transactions.
Coinbase loses bid to force arbitration in crypto theft lawsuit
Crypto exchange Coinbase (COIN) has lost its bid to force arbitration in a lawsuit over the theft of a user’s crypto worth over $31,000. Abraham Bielski was contacted by a scammer last year claiming to be a PayPal representative. Bielski gave the individual remote access to his Coinbase account from which assets worth $31,039 were transferred.