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Education Minister Proposes Two-Year NYSC Program.

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Featured

Education Minister Proposes Two-Year NYSC Program.

The Minister of Education, Dr. Olatunji Alausa, has proposed...

IGP Invites Emir Sanusi Over Violent Sallah Incident in Kano.

The Inspector General of Police (IGP) has reportedly invited...

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The General Overseer of the Redeemed Christian Church of...

Ecobank Initiates Legal Action to Prevent Barbican Capital from Selling FBN Holdings Shares.

Ecobank Nigeria Limited has filed a lawsuit against Barbican...

Umahi: CCTV Cameras Installed on Third Mainland Bridge to Prevent Suicides.

The Nigerian government has installed closed-circuit television (CCTV) cameras...

Music

Reekado Banks hints at exposing ‘demonic’ industry players frustrating artistes

In the glitzy, high-energy world of Nigeria's music industry,...

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The Headies Academy has announced a change in the...

Tems, J Cole, and Lil Wayne to Light Up Final Dreamville Festival in 2025

The 2025 Dreamville Festival is set to be an...

Timi Dakolo Reacts Amid Pastor Lazarus’ Comment on Gospel Singers

The intersection of faith and finance has always been...

How Nigerian Artists Earned ₦58 Billion on Spotify in 2024

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IGP Invites Emir Sanusi Over Violent Sallah Incident in Kano.

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Discover the secret tricks every PC possesses but few...

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Latest News

Education Minister Proposes Two-Year NYSC Program.

The Minister of Education, Dr. Olatunji Alausa, has proposed...

IGP Invites Emir Sanusi Over Violent Sallah Incident in Kano.

The Inspector General of Police (IGP) has reportedly invited...

God Told Me RCCG Council Meetings Will Be Held on the Moon – Pastor Adeboye.

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Ecobank Initiates Legal Action to Prevent Barbican Capital from Selling FBN Holdings Shares.

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Umahi: CCTV Cameras Installed on Third Mainland Bridge to Prevent Suicides.

The Nigerian government has installed closed-circuit television (CCTV) cameras...

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Discover the secret tricks every PC possesses but few...

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Bitcoin Plunges Below $20,000

Bitcoin plunged below $20,000 on Saturday, shedding nine percent from the previous day to fall to $18,740, its lowest level since December 13, 2020.

With investors increasingly wary of risk, the world’s most popular crypto asset has lost more than 72 percent of its value since reaching a high of $68,991 on November 10, 2021.

After sinking to $18,740 on Saturday, Bitcoin rose to $18,941 at 1550 GMT, down eight percent from Friday.

Other major digital currencies were also down on Saturday, including ether, which lost nearly 10 percent of its value.

World stock markets plunged this week amid fears that inflation-fighting interest rate hikes by the US Federal Reserve and other central banks could trigger a recession.

Cryptocurrencies have paid the biggest price.

The value of the global crypto market fell below the symbolic $1 trillion mark on Monday after reaching $3 trillion in November of last year.

Bitcoin’s fall has been accelerated by the suspension of withdrawals by two cryptocurrency platforms.

The Celsius Network said it was pausing “all withdrawals, swap, and transfers between accounts” due to “extreme market conditions.”

Babel Finance said it was facing “unusual liquidity pressures.”

Major exchange Binance temporarily suspended bitcoin withdrawals and advised customers to use other networks.

Coinbase said Monday that it was trimming 18 percent of its workforce, about 1,100 jobs, citing tight economic conditions and overly rapid expansion.

“We appear to be entering a recession after a 10+ year economic boom,” Coinbase founder and CEO Brian Armstrong said.

In recent years, the crypto sector benefited from a vast infusion of cash due to easy-money policies from the world’s biggest central banks.

However, rampant inflation has sparked tighter monetary policy across the globe, helping to send the industry crashing.

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