Hey guys!

Welcome to this week’s episode of Crypto Weekly, where you get updated on the current major news events in the crypto-verse.

In this week’s headlines:

• FBI warns about crypto
• Binance announce suspension of tokenized stocks
• Square launches Bitcoin DeFi platform
• Nigeria P2P trading volume rises.

Now let’s get into the details.

1. FBI Warns About Crypto

FBI warns US citizens about using BTC as the amount of cryptocurrency fraud increased rapidly over the past fiscal year.

Also, different cyber attackers have requested ransom payment in cryptocurrency which the FBI aims to prevent.

2. Nigeria’s P2P Crypto Trade Volume Continues To Rise

Peer-to-Peer trading volume in Nigeria’s cryptocurrency market surpassed the previous $35 million mark to near $40 million in the past week.

The updated data is sourced from P2P trading activities of only the two most commonly used cryptocurrency exchanges in Nigeria.

3. Square Launches Bitcoin DeFi platform

Square, a mobile payments platform chaired by Twitter CEO Jack Dorsey has created a DeFi platform for Bitcoin.

The CEO has also announced that the platform will also be open-sourced like its wallet that I spoke about a week ago.

4. ECOWAS Urges It’s Member States To Embrace Cryptocurrency Under A Regulatory Framework

The legislative body of the Economic Community of West African States (ECOWAS) has, in this past week, urged its member states to consider cryptocurrencies for transactions.

They also advised that the member states take measures to develop and implement proper regulatory laws for the usage of cryptocurrencies.

5. Binance Announce Suspension Of Tokenized Stocks

Binance announced on Friday that they will suspend the sale and trading of Tokenized stocks.

It has also given users who hold such tokens 90 days to sell them off.

6. Paypal To Increase Crypto Buy Price

Paypal has announced that it would now allow customers to purchase more Bitcoin per week.

The new price cap is set at $100,000; a massive increase from the previous $20,000 per week.

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Conclusion

That’s all for this week!

HODL on, and I’ll see you in next week’s episode.