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    Gov. Elections: PDP’s Sim Fubara declared Rivers State’s Governor-Elect

    Gov. Elections: PDP’s Sim Fubara declared Rivers State’s Governor-Elect

    Businesses must accept eNaira as a form of payment – CBN

    List of companies licensed by CBN as mobile money operators

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    INEC disowns online voter registration website

    BREAKING: INEC suspends collation of Gov. Election results in Abia and Enugu states

    Gunmen invade Imo community, destroy properties

    Imo state House of Assembly election results announced by INEC

    NNPP wins Kano Gov. Election, curfew declared by government

    NNPP wins Kano Gov. Election, curfew declared by government

    List of #ENDSARS panel’s 32 recommendations and Lagos State Govt’s response

    Gov. Election: INEC declares Sanwo-Olu winner in Lagos State

    Chimaroke Nnamani loses Enugu East Senate Post to Labour Party

    Chimaroke Nnamani loses Enugu East Senate Post to Labour Party

    More than 70 feared dead as boat capsizes in Anambra

    Anambra state House of Assembly election results

    • Nigeria
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    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Russia Economy contracts by 2.1% in 2022, far below western predictions

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

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    • Economic Data
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    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI lost by 0.09%, as STANBIC loses 8.52%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The NGX-ASI Lost By 1.04%, as banking sector drops 1%

    Lasaco Assurance Plc suffers maximum possible loss on NSE as suspension is lifted

    The Local Bourse declined by 0.42%, as FLOURMILL loses 5.92%

    Again DMO offers N360 billion FGN bond for February

    The DMO auctions 4 FGN Bonds worth N360bn in March

    Guaranty Trust Holding Company profit dips to N77.56 billion in H1 2022

    The NGX-ASI Declined by 0.12%, as GTCO loses 3.08%

    Why Bitcoin fell below $20,000 for the first time in nearly 2 months

    Bitcoin rises over 18% as cryptos surge in renewed hope

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    Why Bitcoin fell below $20,000 for the first time in nearly 2 months

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    Credit Suisse shares plunged on Monday after acquisition by rival UBS

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    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

    APC won Abua-Odual and Ahoada East LGAs of Rivers State as announced – INEC’s IRev

    LP won Obio-Akpor LGA Rivers State not APC as announced – INEC’s IReV

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    Building a Successful Business Organization: Lessons from the Bible

    2023 Bible Lessons on Setting your Financial/Investment Goals

    2023 Bible Lessons on Setting your Financial/Investment Goals

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

    Fact check: Is the Investment Peter Obi made for Anambra State worth next to nothing?

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Bitcoin falls to lowest in over a week amid China pressure and possible US policy change

Tuesday, 8 June 2021, 7:05 am
in Cryptocurrencies, Markets
0
Bitcoin fell below $32,000 on ‘double-spend’ report and possible ‘curtail’ by U.S lawmakers
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The prices of cryptocurrencies decline with Bitcoin crashing to its lowest point in more than one week amid crackdown on crypto accounts in China.

Bitcoin fell on Monday to below $32,500 at one point in the early hours of Tuesday, although it has slightly recovered but still down 10.08% at the time of this report at $32,636.2.

The most popular crypto was not alone in the crash, Ethereum is down 11.75% at $2,457.54.

XRP and Dogecoin are down 11.79% and 14.99% respectively at $0.84674 and $0.316284.

Binance Coin is down 14.65% at $340.46 at the time of the report.

China over the weekend closed a slew of crypto related accounts in Weibo, a Twitter like platform in China, as the country stepped up its crackdown on bitcoin trading.

However, Coindesk cited the “prospects of shifting U.S. monetary policy,” as another reason for the sell-off in the crypto market. It said “the U.S. Federal Reserve could begin to unwind from its liquidity-boosting quantitative easing program.”

“Germany’s largest lender, has said the U.S. could be in for one of its worst inflationary periods in history with government spending and loose monetary policy likely catalysts for creating conditions last seen in the 1940s and 1970s.”

Chinese authorities had on May 21 said it would crack down on bitcoin mining and trading activities as part of efforts to fend off financial risks and protect the financial system.

Ifunanya Ikueze
Ifunanya Ikueze

Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.

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