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In a momentous legal development, Nigeria’s Federal Inland Revenue Service (FIRS) has initiated legal proceedings against Binance Holdings Limited, seeking an astonishing $81 billion in alleged unpaid taxes and penalties. This monumental claim has sparked discussions within the financial and cryptocurrency sectors, highlighting the tension between regulatory bodies and cryptocurrency exchanges operating in various jurisdictional
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In a landmark decision for its US customers, Binance.US has reinstated the ability to deposit and withdraw US dollars. This development, communicated on February 19, signifies a major transition from a prolonged period during which the platform operated solely as a cryptocurrency exchange. After months of navigating regulatory challenges and operational limitations, users can now
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Ethereum has been navigating a narrow trading range between $2,650 and $2,750 recently, indicating a period of indecision and uncertainty in the market. This stagnation suggests a market caught between bullish aspirations and bearish pressures, making it crucial for investors to closely monitor the cryptocurrency’s movements. As trends develop, this tight trading range reflects broader
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In the realm of cryptocurrency, volatility is a constant companion. Recently, we’ve observed significant declines, with market capitalization plummeting approximately 3% over a 24-hour period, resulting in a total of around $3.24 trillion. These fluctuations, particularly affecting altcoins, have ignited conversations about market stability, investor sentiment, and the overall trajectory of digital currencies this February.
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The financial world often witnesses repeating market trends, with certain periods exhibiting statistically significant price movements. One such phenomenon is the “sell in May” effect, a strategy deeply rooted in traditional finance. This concept posits that stock market performance tends to sag during the warmer months, with the best investment returns typically occurring between November
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In the ever-evolving world of cryptocurrency, the innovative technologies and platforms designed for trading and investment often attract not only legitimate users but also skilled criminals. Recent warnings from Binance CEO Richard Teng highlight the emergence of a particularly insidious scam known as the “share-seed-phrase” scam. On February 18, Teng took to social media to
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