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Patricia Relocates Headquarters to Europe

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Patricia

Patricia Technologies Limited is proud to announce that we have moved our operations to the Republic of Estonia, with our headquarters now domiciled in the Northern European country.

This global movement is set to strengthen our relationships with marketers and agencies in the global crypto markets, whilst also positioning us as the leading cryptocurrency trading company in Nigeria, Africa, and Europe.

This recent development is accompanied by the launch of our new and upgraded Patricia app version 2, which features lots of new updates and upgrades, including crypto swap; a betting feature that enables users to use crypto to place bets; the app also introduces new cryptocurrencies (coins) to add to the already existing Bitcoin. There’s also an automated buy limit for crypto traders, and the Refill service has also been upgraded to include international transactions.

Looking at how we have managed to dominate the Bitcoin market in our 3 years of existence, our CEO and Founder, Hanu Fejiro Agbodje quipped that “What originally came as disastrous news turned out to be the cornerstone we needed for this worldwide expansion” referring to crypto trading Ban by the Nigeria Government.

He also remarked that “the decision to expand and move our headquarters to Europe is part of our plans to improve our business strategy”. We want to play in the big league, there’s no passion to be found playing small, we want to be in the most sophisticated markets in the world, this is an opportunity for us to lead the fifth Revolution”.

As one of the industry’s fastest-growing financial solutions providers, our goal is to empower brands and individuals to take control of their digital finance through an advanced cross-border payment solution provided by Patricia Business.

We presently have an established presence in Ghana, Kenya, South Africa, and China.

For more information or to get in contact with us, please send a mail to: hello@mypatricia.co.

About Patricia
Patricia is an Africa-centric integrated alternative payment and e-commerce company that facilitates the easy use of digital currencies like Bitcoin, and other digital assets for everyday transactions.

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Cryptocurrency

Federal High Court Orders Binance to Disclose Nigerian Traders’ Information

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The Federal High Court in Abuja has directed Binance Holdings Limited to furnish the Economic and Financial Crimes Commission (EFCC) with detailed information concerning Nigerian individuals engaged in trading on its platform.

The court’s decision followed an ex parte motion filed by the EFCC seeking information regarding Nigerian users of Binance.

According to the suit marked FHC/ABJ/CS/259/2024 and dated February 29, the EFCC invoked sections of the Economic and Financial Crimes Establishment Act, 2004, and the Money Laundering (Prevention and Prohibition) Act, 2022, in its bid to obtain comprehensive data on Nigerian traders on Binance.

In an affidavit supporting the motion, an EFCC operative, Hamma Bello, alleged that the commission’s Special Investigation Team received intelligence suggesting that money laundering and terrorism financing activities were being facilitated through Binance.

Bello asserted that the investigation revealed instances of price manipulation on the platform, resulting in distortions in the market and depreciation of the Naira against other currencies.

The EFCC operative highlighted that Binance’s trading volume from Nigeria in 2023 alone amounted to a staggering $21.6 billion.

Justice Emeka Nwite, in granting the interim order, directed Binance to provide the EFCC with comprehensive data pertaining to all Nigerian traders on its platform.

This ruling underscores the Nigerian government’s commitment to combating financial crimes and ensuring transparency in cryptocurrency transactions.

Binance, a prominent online exchange for cryptocurrencies, now faces heightened scrutiny as it must comply with the court’s directive amidst ongoing investigations into illicit financial activities facilitated through its platform.

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AI Crypto Tokens Surge, Outpacing Bitcoin: Market Value Hits $26.4 Billion

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The intersection of artificial intelligence and cryptocurrency has ignited a substantial surge in the crypto market, with tokens linked to AI-focused projects experiencing unprecedented growth.

Over the past year, these tokens have outpaced even the juggernaut of the cryptocurrency world, Bitcoin, as investor appetite for AI applications such as machine learning remains insatiable.

According to data from CoinGecko, the combined market value of AI crypto tokens has skyrocketed to a staggering $26.4 billion, up from a mere $2.7 billion just last April.

This meteoric rise has been accompanied by a surge in trading volumes, reaching an all-time high of $3.8 billion in late February, as reported by Kaiko Research.

Investors are flocking to AI crypto tokens due to their potential to disrupt traditional industries and solve long-standing challenges in the AI sector, such as privacy concerns and the need for massive computing power.

Markus Levin, co-founder of blockchain data storage firm XYO Network, predicts a growing fusion of AI systems and blockchain networks, leading to innovative use cases that span across both industries.

The CoinDesk Indices Computing Index, which includes AI-linked tokens, has leaped over 165% in the past 12 months, outpacing Bitcoin’s rise.

Analysts foresee continued momentum for AI crypto tokens, with some suggesting that AI applications could become the primary driver of crypto’s value proposition.

Leading blockchain projects in this space include Render Network, Fetch.AI, and SingularityNET, offering platforms for AI-generated graphics sharing, AI app development, and AI services marketplace, respectively.

Ahmad Shadid, founder of AI-focused blockchain startup io.net, emphasizes the growing realization among investors that diversification into AI-linked products provides resilience against crypto market fluctuations, highlighting the burgeoning significance of AI in the crypto landscape.

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Binance CEO Forecasts Bitcoin Surge Beyond $80,000 on Institutional Inflows

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Binance Chief Executive Officer Richard Teng has set his sights on Bitcoin surging beyond the $80,000 price level on the back of rising institutional investments into crypto-backed exchange-traded funds (ETFs).

Speaking at an event in Bangkok on Sunday, Teng highlighted the significant impact of the launch of Bitcoin ETFs in the United States earlier this year.

He noted that this development has attracted a considerable influx of institutional investors, propelling fresh funds into the cryptocurrency market.

Teng expressed confidence in Bitcoin’s upward trajectory, emphasizing that “we’re just getting started.”

Initially estimating Bitcoin to reach around $80,000 by the end of the year, Teng now believes that the cryptocurrency’s price will surpass this milestone.

He attributed this bullish outlook to a combination of decreasing supply and sustained demand within the market.

However, he cautioned that the rally wouldn’t be without its fluctuations, suggesting that the market’s ups and downs would ultimately benefit its overall health.

Bitcoin has already surged by an impressive 56% this year, reaching a record high of nearly $73,798 last week.

Despite concerns among some investors about a potential bubble, Teng remains optimistic about Bitcoin’s future trajectory.

Teng’s forecast comes in the wake of his appointment as CEO of Binance, succeeding co-founder Changpeng Zhao in November following the company’s $4.3 billion settlement with US authorities.

With relentless inflows into US spot Bitcoin ETFs since their approval in January, Teng expects further institutional adoption in the near term, with more endowments and family offices anticipated to increase their allocations into Bitcoin ETFs.

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