BitcoinKE

The Securities and Exchange Commission (SEC) has warned Nigerians to avoid engaging in investment activities on Tofro.com, labeling the online platform as a potentially fraudulent crypto trading operation.

 

According to the commission, Tofro is not authorized to operate in the Nigerian capital market lacking both the necessary regulatory approval and legal backing to solicit investments from the public.

“The commission hereby informs the public that Tofro is not registered by the commission

 

Art NFT trading volume has collapsed by 93% since their 2021 peak, dropping from $2.9 billion that year to just $197 million in 2024 which was declared the worst year for the artifacts, and further declining to $23.8 million in Q1 2025.

REPORT | 2024 Was One of the Worst Years for #NFTs, Says Latest @DappRadar Report

On an annual basis, NFT trading volume decreased by 19% compared to 2023, and NFT sales saw an 18% decline.https://t.co/D3stRQb8IJ pic.twitter.com/jPuqeMwGVj

— BitKE (@Bitcoin

Tether International S.A. de C.V. (TI) has published its Q1 2025 attestation report, independently completed by BDO, a top-five global accounting firm.

The report confirms the accuracy of Tether’s Financials Figures and Reserves Report (FFRR), providing a detailed and transparent view of the assets backing its fiat-denominated stablecoins as of March 31, 2025.

Despite a turbulent market environment, Tether delivered record-breaking results that reinforce the company’s financial strength and st

Crypto users have already lost over $1.7 billion to these groups – an increase of 14% over the total losses of $1.49 billion recorded in 2024, according to blockchain security firm, ImmuneFi.

Some reports estimate 2024’s total losses to be even higher, placing them at over $2 billion. These include:

CertiK’s 2024 Hacked Report

Chainalysis Report

REPORT | Hackers Stole Over $2.2 Billion From Cryptocurrency Users in 2024, North Korea Main Culprit

Private key compromises accounted for the larg

Are you passionate about crypto and eager to make a difference in major cities across Africa, such as Kenya, Ghana, Ivory Coast, Angola, and South Africa?

 

Binance, the leading global blockchain ecosystem behind the world’s largest cryptocurrency exchange by trading volume and registered users, is looking for a crypto enthusiast to boost educational initiatives, organize impactful events, and gather valuable user feedback to strengthen its market presence.

 

This 6-month renewable opportu

Phoenix Group PLC, a UAE-based global company in cryptocurrency, blockchain, and digital infrastructure, has announced the acquisition of an additional 52 megawatts (MW) of mining capacity in Ethiopia.

This expansion brings the company’s total operational capacity in Ethiopia to 132MW and boosts Phoenix Group’s global capacity to over 500MW across five countries.

Earlier in 2025, Phoenix Group entered the Ethiopian market with an 80MW power purchase agreement (PPA), establishing a foundation f

There were more stablecoin transactions in the first quarter of 2025 than VISA transactions, says the latest Bitwise Crypto Market Review for Q1 2025.

The report, which examines various metrics, describes the period as “The Best Worst Quarter in Crypto’s History.”

 

Bitwise is a cryptocurrency investment firm specializing in the management of crypto index funds.

“We saw the first pro-crypto president take office and immediately sign an executive order making the growth of digital assets a na

Regulated crypto exchanges in South Africa have put out Travel Rule announcements to their users alerting them of an important change in their operations.

Starting April 30 2025, all regulated crypto exchanges in South Afric are required to implement the Travel Rule, a global Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) requirement issued by the Financial Action Task Force (FATF).

South Africa is aligning with the global standards set by the Financial Action Task Force (FA

The Bank for International Settlements (BIS) has issued a stark warning in its April 15 report regarding the expanding role of cryptocurrencies and decentralized finance (DeFi) in the global financial system.

According to the BIS, the crypto market has grown to a “critical mass” in terms of investor participation and capital inflows, prompting urgent concerns over financial stability, consumer protection, and wealth inequality.

 

Here are the key findings from the BIS Report:

 

1.)  Stabili

The Nigeria Ministry of Foreign Affairs has raised alarm over the rise of cyber slavery across parts of West Africa targeting Nigerian citizens, particularly vulnerable youths.

In a statement issued by the Ministry spokesperson, Kimiebi Imomotimi Ebienfa, it was disclosed that numerous young Nigerians – including minors – are being enticed to leave the country with false promises of high-paying jobs overseas, especially in crypto-related activities.

 

The statement explained that individuals

The Interledger Foundation, a global nonprofit foundation and steward of the Interledger Protocol (ILP), has partnered with Kanzu Finance to support microloans for community-based financial institutions in Uganda.

The foundation supports and promotes the Interledger Protocol (ILP) – an open protocol that permits frictionless payments and micropayments across currencies and ledgers, enabling opportunities for broader global financial inclusion.

According to the Interledger Protocol (ILP), the i

The Nigeria Economic and Financial Crimes Commission (EFCC Nigeria) has issued a wanted notice for eight individuals accused of participating in a fraudulent operation conducted via an online trading platform called Crypto Bridge Exchange (CBEX).

 

The Commission shared the announcement through a public notice below:

“The public is hereby notified that the persons whose photographs appear above are wanted by the Economic and Financial Crimes Commission (EFCC) for fraud allegedly perpetrated o

Crypto wallet screening is one of the valuable weapons in combating financial crime. Digital assets are involved in money laundering, financing of other illicit activities, and concealing transactions. Crypto wallet is a technology that can be used to prevent further penetration of such threats before they become a real problem for businesses, governments, and individuals.

 

In this article, we will discuss what crypto wallet screening is, why it is important, and how adopting complex crypto w

The Bank of Ghana (BoG), which is the Central Bank of Ghana, plans to begin regulating cryptocurrency and associated platforms by the end of September 2025, according to Dr. Johnson Asiama, Governor of the Bank of Ghana (BoG).

Speaking at the African Leaders and Partners Forum, hosted by the EBII Group alongside the IMF/World Bank Spring Meetings in Washington, D.C., Asiama said that the initiative depends on the approval of the Virtual Asset Providers Act.

 

The legislation will grant the Ba

Crypto exchange Binance is set to implement stricter regulations for its South African user base, which will require the submission of details before conducting cryptocurrency transactions. 

Updates on Crypto Transfer Procedures in South Africa on #Binance @BinanceAfrica @binance pic.twitter.com/qhIicXPacy

— BitKE (@BitcoinKE) April 24, 2025

In a recent statement, the world’s leading crypto platform announced that starting April 30 2025, crypto receivers in South Africa will need to tender th

The Securities and Exchange Commission of Nigeria (SEC Nigeria) has released a new advisory, cautioning Nigerian investors to stay alert and avoid falling victim to fraudulent investment schemes, such as Ponzi schemes and unauthorized digital asset platforms.

In a statement issued on April 24 2025, the Commission highlighted the significant dangers associated with these unlawful investment activities.

It also underscored the critical role of regulatory compliance in maintaining the integrity a

USD Coin ($USDC) issuer, Circle, has introduced the Circle Payments Network (CPN) with the aim of revolutionizing cross-border payments.

 

According to a press release, the network, to be released in limited capacity in May 2025, connects financial institutions – banks, neo-banks, payment service providers, virtual asset service providers and digital wallets – enabling real-time settlement of cross-border payments using regulated stablecoins.

“By leveraging $USDC, $EURC, and other regulated s

PanCakeSwap, the leading multi-chain decentralized exchange (DEX), has just wrapped up its strongest quarter since inception – setting a new benchmark with an all-time high of $205.3 billion in trading volume in Q1 2025. This marks a defining moment in PancakeSwap’s journey as it continues to dominate and redefine the decentralized finance (DeFi) landscape.

 

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Main Takeaways:

PancakeSwap recorded its highest-ever quarterly trading volume since inception with a record-breaking $

The Nigeria Economic and Financial Crimes Commission (EFCC) has brought charges against cryptocurrency trading platform, Afriq Arbitrage System (AAS), and its CEO, Jesam Michael, for allegedly committing investment fraud totaling $844,416.36, $10,000, and ₦590 million.

EFCC claims that between September 2022 and June 2023 in Abuja, Nigeria, Michael and his company, without being a licensed bank or authorized financial institution, solicited the public through advertisements to deposit money wit

Kenya is taking a significant step toward regulating the digital finance ecosystem through the Virtual Asset Service Providers Bill 2025. This landmark legislation aims to create a comprehensive legal framework for the licensing, regulation, and supervision of virtual asset service providers (VASPs) in the country.

This bill provides long-awaited clarity for businesses in the virtual asset and fintech space – such as crypto exchanges, digital wallets, NFT platforms, and decentralized finance (D