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Chidirim Ndeche

Chidirim Ndeche

Chidirim Ndeche is a freelance journalist and writer based in Lagos, Nigeria with a penchant for storytelling. She worked with The Guardian Nigeria as a lifestyle and culture journalist and has written for Neliti, Daily Times, and Faces of Web3. Disclosure: She owns less than 1 BTC.

Stories by Chidirim Ndeche

  • Image created by Decrypt with AI.

    Bitcoin ETFs Continue Rebound With $1.35 Billion in Weekly Gains

    Bitcoin exchange-traded funds (ETFs) raked in $1.35 billion last week as BTC-centric funds recorded their fifth-best week on record, per data from CoinShares. According to the latest weekly report from the crypto exchange-traded products (ETPs) provider, about $1.44 billion worth of assets poured into such crypto funds across the market, bringing the year-to-date total to a record $17.8 billion and putting even more distance between 2021’s previous record of $10.6 billion. Bitcoin dominated the...

    NewsMarkets
    2 min read
    Chidirim Ndeche
  • Image: Coffeemill/Shutterstock

    Nigeria Explores Building Its Own ‘Nigerium’ Blockchain

    Nigeria intends to build a blockchain system to cater to local needs and boost its “data sovereignty.” Nicknamed Nigerium, the blockchain will be built by the country’s National Information and Technology Development Agency (NITDA). However, a spokesperson for NITDA told Decrypt on Monday that there is no timeline for its development and implementation.  “[The] committee is still in discussion with stakeholders on the possibility,” said Hadiza Umar, NITDA’s head of corporate affairs and external...

    NewsTechnology
    3 min read
    Chidirim Ndeche
  • Binance head of financial crime compliance Tigran Gambaryan. Image: Binance

    Nigerian Officials Claim Detained Binance Exec Is 'Fine' Amid Health Concerns

    Nigerian prison officials said Thursday that Tigran Gambaryan, a senior Binance executive being held in the country, has no “serious health condition” and is doing “fine” in detention. Gambaryan’s family had said in a statement earlier in the week that he was “suffering immensely” while in custody amid a legal battle between the prominent crypto exchange and the Nigerian government. The Government-owned News Agency of Nigeria reported that he collapsed in court due to ill health in May. Gambarya...

    NewsLaw and Order
    4 min read
    Chidirim Ndeche
  • Bundle users can now use Bitcoin Lightning payments. Image: Shutterstock

    Crypto Exchange KuCoin Adds 7.5% Tax for Nigeria Users, Citing 'Regulatory Update'

    Signs of an immediate regulatory shift for cryptocurrency in Nigeria emerged on Wednesday as crypto exchange KuCoin announced it would begin charging a value-added tax on transactions beginning July 8. The exchange cited a “regulatory update” in the email it sent to customers. “Starting from July 8th, 2024, we will begin collecting a Value-Added Tax (“VAT”) at a rate of 7.5% on transaction fees in each trade for users whose KYC information is registered in Nigeria,” KuCoin said in an email sent...

    NewsCoins
    3 min read
    Chidirim Ndeche
  • Binance head of financial crime compliance Tigran Gambaryan. Image: Binance

    Binance Executive 'Suffering Immensely' in Nigeria While Authorities Withhold Health Records

    The family of Tigran Gambaryan, a senior executive at Binance being held in a Nigerian jail, said he is “​​suffering immensely” as the country’s prison officials refused to release health records despite court orders. Gambaryan’s deteriorating health condition has become one of the focal points in the ongoing legal battle between Binance and Nigerian authorities. The family of the American said his health has continued to deteriorate in detention and that he has complained of numbness in his foo...

    NewsLaw and Order
    3 min read
    Chidirim Ndeche
  • Roaring Kitty during his June 7, 2024 livestream. Image: YouTube

    Lawsuit Alleges GameStop Trader Roaring Kitty Committed Securities Fraud by Manipulating GME

    American financial analyst and investor Keith Gill, known more widely by his Twitter and YouTube handle Roaring Kitty and on Reddit as DeepFuckingValue, was hit with a class action securities fraud lawsuit late Friday. [Update: the lawsuit was voluntarily dismissed on Monday.] Gill initially gained fame for his role in the GameStop (GME) stock surge in 2021, with his live streams and posts stirring up a community of retail investors. He went silent for three years, but set off a new wave of meme...

    NewsMarkets
    3 min read
    Chidirim Ndeche
  • Nigeria. Image: Shutterstock.

    Nigeria SEC Values Local Crypto Industry at $400 Million

    Nigeria’s Securities and Exchange Commission (SEC) has valued the country’s cryptocurrency industry at $400 million. In a press conference Friday, SEC chief Emomotimi Agama predicted an increase in crypto trade volume in the next few years despite the country’s recent clampdown on exchanges. “The country’s crypto market is estimated to be worth over $400 million, with a significant portion of the population involved in cryptocurrency trading and transactions,” Agama said. Nigeria has a thriving...

    NewsBusiness
    2 min read
    Chidirim Ndeche
  • Blast is an Ethereum layer-2 scaling network. Image: Blast

    Blast Price Rebounds After Ethereum Layer-2's Massive Airdrop

    Blast’s long-awaited airdrop of its Ethereum token Wednesday was met with ample price volatility, some apparent disappointment from users, and a surge in scammy tweets attempting to swipe the funds of eager traders. But the price did gradually rise over the course of the day. The token debuted on Wednesday at around $0.025 but then cooled off, dipping to around $0.020. But over the course of the day, it gradually climbed to a high price above $0.029, easing some traders’ fears that BLAST would k...

    NewsMarkets
    3 min read
    Chidirim Ndeche
  • Nigeria and Bitcoin. Image: Shutterstock

    Nigeria SEC Gives Crypto Firms 30 Days to Register—Or Face Enforcement Action

    Nigeria’s Securities and Exchange Commission (SEC) has given cryptocurrency exchanges and digital assets traders 30 days to re-register their businesses—or risk facing enforcement actions. This announcement is part of Nigeria’s plan to regulate digital assets trading. The SEC said the new registration is aimed at amending its rules on digital assets issuance, offering platforms, exchanges, and custody in regards to virtual asset service providers (VASPs). “All operating and prospective VASPs ar...

    NewsLaw and Order
    2 min read
    Chidirim Ndeche
  • Photo: Shutterstock

    Germany Selling More Bitcoin After Dumping $170 Million: Arkham

    German authorities appear to be offloading more Bitcoin, according to on-chain analysis, after previously dumping about $170 million worth of the cryptocurrency in the past week.  The country’s Federal Criminal Police Office (BKA) transferred 400 BTC, worth about $25 million, to cryptocurrency exchanges Coinbase and Kraken on Tuesday. Another 500 BTC (over $30 million worth) was moved to an unknown address, according to blockchain monitoring service Arkham.  The selloffs came as the crypto marke...

    NewsMarkets
    3 min read
    Chidirim Ndeche
  • Image created by Decrypt using AI

    After Sweeping Bitcoin and Ethereum Liquidations, Analysts Are Watching for Accumulation Whales

    The cryptocurrency market continues its downward spiral this week, having seen about $191 million worth of crypto derivatives contracts liquidated in the last 24 hours. Bitcoin (BTC) is the most impacted, accounting for half of the total liquidations, of roughly $103 million. Ethereum (ETH) follows with $33 million in liquidations. This follows the 24-hour tally rising to $330 million yesterday afternoon after Bitcoin fell below $60,000 for the first time since early May. This sharp rise in liqu...

    NewsMarkets
    3 min read
    Chidirim Ndeche

  • Solana Loses $3 Billion From Its Market Cap as SOL Price Sinks

    Solana (SOL) has hit a bearish run in the past week, shaving off about 5% and billions of dollars in market value since yesterday. The coin traded for $170 as of June 6, having gained immensely in the previous 12 months. But the Solana price slumped as low as $123.42 on Monday. SOL has declined by at least 11% in the past week, coinciding with the general slump in the value of crypto assets amid negative investor sentiment across the cryptocurrency market. Broader market slump Solana’s steep dec...

    NewsCoins
    3 min read
    Chidirim Ndeche
  • Image: PurpleRender/Shutterstock

    Bitcoin Dips 3.5% as German Government Sells $325 Million BTC Over Two Days

    Bitcoin slumped on Friday morning, with its price dropping about 3.5% over the past 24 hours to around $64,700 as volatility fears came home to roost. In the last hour alone, Bitcoin has lost nearly 1.2% of its value, extending a troubling trend that has seen it dip nearly 9% over the past two weeks. Many believe the slump was triggered by German authorities dumping seized Bitcoin assets. Europe’s biggest economy recently began selling off portions of a hefty stockpile of Bitcoin valued at about...

    NewsCoins
    2 min read
    Chidirim Ndeche
  • Binance and Nigeria. Images: Shutterstock

    Binance Exec Who Fled Detainment in Nigeria Has Human Rights Suit Dismissed

    A Nigerian court in Abuja has dismissed the human rights suit filed against the Nigerian authorities by a Binance executive, Nadeem Anjarwalla. Anjarwalla, the regional Africa head for Binance, and Tigran Gambaryan, who heads Binance’s Financial Crime Compliance, were detained on February 28 after meeting with the country’s officials to settle regulatory disputes. Nigeria clamped down on cryptocurrency exchanges, with its central bank governor singling out Binance for public rebuke over alleged...

    NewsLaw and Order
    2 min read
    Chidirim Ndeche
  • Image: Hashdex

    Bitcoin, Ethereum ETF Hopeful Hashdex Waives Fees for Europe Fund

    Hashdex, a global crypto-focused asset manager, announced Wednesday that it will waive all fees for its Hashdex Nasdaq Crypto Index Europe (HASH) fund until it reaches $1 billion in net asset value.  The news comes as Hashdex pushes to offer a first-of-its-kind joint Exchange Traded Fund (ETF) in the U.S. that will hold both Bitcoin and Ethereum. Its HASH fund—an Exchange Traded Product (ETP)—is the second largest crypto index ETP in Europe, with over $100 million in net asset value. HASH is cur...

    NewsMarkets
    2 min read
    Chidirim Ndeche
  • Binance executives Tigran Gambaryan (L) and Nadeem Anjarwalla (R). Images: Binance/Shutterstock

    Detained Execs, Daring Escapes: How Binance's $35 Million Battle With Nigeria Unfolded

    Binance’s operation in Africa's biggest cryptocurrency market is under intense scrutiny, with Nigerian authorities accusing the crypto giant and a host of other exchanges of infractions including currency manipulation and facilitating transfers of illicit funds. With one Binance executive in custody in Nigeria, and a second having fled the country after having been detained, Nigerian authorities have singled out the exchange for circumventing Nigerian laws and for tax evasion. According to court...

    Deep DivesLong Reads
    8 min read
    Chidirim Ndeche
  • Nigeria and Bitcoin. Image: Shutterstock

    Nigeria’s Crypto Tax Signals Slow Walk to Official Recognition—But Will People Pay Up?

    A lack of clarity over cryptocurrency’s status in Nigeria could make it challenging to collect newly-introduced taxes, experts told Decrypt. The 2023 Finance Act, signed into law by Nigeria’s outgoing president Muhammadu Buhari, introduced sweeping changes to the nation’s revenue drive, including the introduction of a 10% capital gains tax on profits made in the disposal of digital assets from May 1, 2023. The country’s Security and Exchange Commission (SEC) clarified that digital assets encompa...

    Deep DivesLong Reads
    5 min read
    Chidirim Ndeche
  • Nigeria has become something of a hub for crypto adoption. Image: Shutterstock.

    Nigeria’s Crypto Future Still Cloudy Despite Tokenization Push

    More than two years after clamping down on crypto trading, Nigerian authorities are mulling plans to roll out tokenized coins on exchanges. Tokenized coin offerings, a form of digital fundraising in which assets like real estate, stocks, and bonds are tokenized and sold on blockchain platforms, allow investors fractional ownership in the underlying asset. The new pilot involves the creation of a permissioned liquidity pool comprising tokenized bonds and deposits. “We always like to start, as a r...

    Deep DivesProfiles
    5 min read
    Chidirim Ndeche
  • The naira is the currency of Nigeria. Image: Shutterstock

    Inside Nigeria's Ambitious Push of Cashless Society, eNaira CBDC

    Nigeria’s push to adopt digital currency and move towards a cashless society shifted into high gear on December 6, when the country’s central bank announced a cap on cash withdrawals, either over the counter or via ATMs. The new policy affects more than 200 million people, and its impact could be far-reaching and dramatically unpredictable. The Central Bank of Nigeria said in a memo to deposit money banks (DMBs) that withdrawals should not exceed ₦100,000 ($225) per week for individuals and ₦500...

    Deep DivesLong Reads
    6 min read
    Chidirim Ndeche