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Celebrating Women: Binance Partners Utiva To Host 8-week Bootcamp



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In commemoration of the 2022 International Women’s month, world’s largest cryptocurrency exchange, Binance will be partnering with a tech talent development company, Utiva to educate and empower women through skill acquisition.

The companies will be hosting an  8-week program which will be held at Utiva Hive, 767 Somide Odujinrin Ave, Omole Phase 2 100271, Ikeja, Nigeria from 26th of March.

Aimed at equipping women with blockchain education, tools, and skills, the programme will be hybrid, combining both physical and online events.

The programme is also aimed at closing the gender gap, especially in the area of cryptocurrency. According to a report by Business Insider, women make up only about 15% of bitcoin traders.

Applications for registration for the boot camp will be opened on 8th of March and close on 14th of the same month.

The programme will also encourage career options in the crypto and blockchain space.

“Students will get to work on real-time projects where they will be able to apply the skills they have gained. This boot camp will also give women the opportunity to gain meaningful employment, thereby enabling them to be self-reliant and possibly employers of labour.

“In line with the company’s commitment to Africa and the growth of the blockchain ecosystem, Binance continues to empower women, giving them the opportunity to learn, acquire skills and bring their value to the technology industry by creatively solving problems through innovation”, the company said.

Among other things, the women will discover how others are using crypto in their everyday lives and how to store value with crypto and earn on crypto balances, how to Understand real-world applications of the blockchain and as well, get access to job opportunities.

Investors King gathered that Binance, through Binance Charity, its non-profit charitable arm, recently donated to help the children of Ukraine in their country’s ongoing war against Russia.

Binance Charity announced that the sum of $2.5 million cryptocurrency donation will be given to the United Nations Children’s Fund (UNICEF) to help cover the organization’s expenses as it supports Ukrainian children and families who have been affected by the war.

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US Regulatory Body Sues Binance for Breaking Trading Rules



Binance CEO

The world’s leading cryptocurrency exchange platform, Binance and its CEO Changpeng Zhao (CZ) were sued on Monday by the US Commodity Futures Trading Commission (CFTC).

The U.S. regulator alleged that Zhao and his company violated trading and derivatives rules. 

According to a lawsuit filed by the CFTC in a Chicago federal court, Binance operates a facility for trading digital assets without necessary registration, thereby offering unregistered crypto derivatives products to consumers in the U.S. against federal law.

The suit also alleged that the company, under CZ’s leadership, directed its customers to spoof their locations through the use of virtual private networks (VPN), Investors King learnt

“VPN use by customers to access and trade on the Binance platform has been an open secret, and Binance has consistently been aware of and encouraged the use of VPNs by U.S. customers,” the suit read. 

“The company directed important customers such as trading firms to set up shell companies in places such as Jersey, the British Virgin Islands and the Netherlands to avoid restrictions”, the filing added.

In a press release on Monday, CFTC Chief Counsel Gretchen Lowe called Binance’s actions “willful evasion of U.S. law,” pointing to internal chats and emails. 

Lowe is making reference to internal chats between Binance employees, where the company’s Chief Compliance Officer directed an employee to ask U.S. customers to hide their location.

As a penalty, the CFTC seeks to compel Binance to repay allegedly ill-gotten gains that stem from the misconduct it is accused of. It also wants Binance to pay civil penalties and accept bans on trading as well as its ability to register within the U.S.

Meanwhile, the price of bitcoin fell around $1,000 to trade below the $27,000 mark after the lawsuit was first filed. Similarly, Binance’s exchange token BNB fell about 3% while crypto-related stocks also fell after the suit was published.

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Statista Predicts 150 Million Indians to Have Crypto By the End of 2023




A Statista report has predicted that India’s crypto community will surge to more than 150 million members by the end of the year. This was estimated at more than 11% of India’s total population.

The report added that most Indians who deal with digital assets are well-educated and aged between 18-40. Going by the report, by the end of 2023, India’s crypto adoption rate is expected to surpass that of the United States, the United Kingdom, Japan, and Russia.

Statista noted that educated younger individuals with middle-income status in India are seeking alternatives to the shaking banking system with residents of the Federal Capital, Delhi most inclined to buy and hold digital currencies for the long term. 

The uncertainty in the traditional financial system and the search for higher returns are the main factors pushing Indians toward the digital asset sector.

Last year’s KuCoin survey indicated that the total number of domestic crypto investors in India is around 115 million, of which around 40% fall in the 18-30 age group.

Several reports have earlier projected more crypto adoption in the years ahead with countries in Europe, America, Asia and Africa leading the adoption chart. Investors King learnt. 

According to HedgewithCrypto research, Australia is the biggest country when it comes to cryptocurrency adoption in 2023 as 7.37 out of 10 persons owned a digital currency. The sale of cryptocurrency and other digital assets is legal and regulated in Australia. 

Other countries on the top ten list include the United States, Brazil, UAE, Hong Kong, Taiwan, India, Canada, Turkey and Singapore.

Meanwhile, a number of analysts have predicted that Bitcoin could begin a new macro uptrend in a matter of days despite facing problems flipping $28,000 to support. 

Bitcoin has so far shown an impressive performance since the beginning of the year. 

The flagship cryptocurrency is up more than 50% in 2023 despite the series of challenges that have impacted the banking system and the anti-crypto approaches from the US Securities and Exchange Commission. 

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Nasdaq Set to Launch Crypto Custody Service



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Nasdaq, an American stock exchange based in New York City, is reportedly gearing up to launch crypto custody services for Bitcoin and other digital assets. The launch is billed to debut in the second quarter of 2023.

Investors King understands that the exchange first announced its plans to set up a digital asset business in September 2022 and has been steadily working on setting up the division over the months.

At launch, Nasdaq will join Bank of New York (BNY) Mellon and Fidelity among other large financial firms offering crypto safekeeping. In the fourth quarter of 2022, BNY Mellon said it would provide custody and transfer services for bitcoin (BTC) and ether (ETH), specifically, to a number of its institutional clients.

According to the Bloomberg report, “Nasdaq has applied to the New York Department of Financial Services for a limited-purpose trust company charter, which would oversee the new business.”

In an interview on Friday, Senior Vice President and Head of Nasdaq Digital Assets Ira Auerbach said that Nasdaq “is pushing ahead to get all the necessary technical infrastructure and regulatory approvals in place.”

The launch is coming amid increasing calls for crypto regulations and the offensive position of the US Securities and Exchange Commission against cryptocurrency firms. 

However, analysts believe that if successful, the crypto custody service will give more legitimacy to cryptocurrency and aid new adoption, especially among institutions and high net-worth individuals who have harbour uncertainties about digital assets. 

It appears that institutional interest in cryptocurrency is still high despite the price collapse and several unfortunate events such as the collapse of FTX which bedevilled the industry in 2022.

Meanwhile, cryptocurrency adoption continues to be on the rise in Germany as DWP Bank, a German securities processing firm that manages over 5.3 million securities accounts allows its affiliated banks to offer Bitcoin (BTC) trading to its retail customers. Similarly, another German bank, DZ Bank plans to offer a Bitcoin option for its customers by the end of the year.

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