Volume
USDC transfer volume hit 5X USDT’s in fallout from FTX collapse
Stablecoin USD Coin (USDC) has grown in popularity since the collapse of FTX. It now frequently reaches daily transfer volumes four to five times that recorded by major competitor Tether (USDT) according to data from blockchain analytics firm Glassnode. That’s despite the market cap of USDT being $23 billion greater than USDC. As of Jan. 10, the difference was in USDC’s favor by a margin of four and a half times. Both stablecoins recorded surges in transfer volumes following an infamous tweet from Binance CEO Changpeng Zhao on Nov. 6 announcing Binance would liquidate its entire FTX Token (FTT) holdings. FTX went into bankruptcy soon after. Since then, USDC has been the preferred choice for crypto users, averaging over $12.5 billion more in transfer volume per day than USDT, according to G...
Terra’s Mirror Protocol shows first signs of bottoming after price gains 30% in 48 hours
Mirror Protocol, a decentralized finance (DeFi) protocol built atop the Terra blockchain, was among the biggest gainers in the last 48 hours, primarily as its native token MIR rallied by over 30% to $1.48, its highest level since Jan. 22. MIR/USD four-hour price chart. Source: TradingView Has Mirror Protocol bottomed out? MIR price rose despite an absence of concrete fundamentals, a sight pretty common across crypto assets. As a result, its rally may have been purely technically-driven, especially because it originated after MIR had dropped by more than 90% in value from its May 2021 high near $13, making the token extremely oversold. IncomeSharks, an independent market analyst, called MIR’s rebound move a “no brainer,” noting that its multi-month drop had left ...
Nigerian airlines list conditions for full refund to passengers after two-hour flight delay
Following the pronouncement of the Federal Government that airline operators must refund the full cost of travel tickets to passengers after a two-hour delay, commercial airlines have listed the conditions for such reimbursement. The airline operators made this known in separate interviews with newsmen. The Minister of Aviation, Hadi Sirika, had, on Thursday at the weekly State House briefing in Aso Villa, Abuja, read out some of the rights of air passengers as enshrined in Part 19 of the Consumer Protection Regulations of the Nigerian Civil Aviation Regulations (2015) and charged them to demand their rights whenever they were being trampled upon by airlines. “On domestic flights, for delay beyond one hour, carrier should provide refreshment, and one telephone call, or one SMS, or one e-ma...
NGO: Oil spills killed 16,000 Niger-Delta babies in a year
The Stakeholders Alliance for Corporate Responsibility (SACA) has faulted the Nigerian government and multinational oil companies operating in the Niger-Delta over health hazards associated with exploitation and exploration activities. Newsmen learnt that SACA was formed and registered in Nigeria by an Irish Priest, Reverend Fr. Kevin O’ Hara, as a Non-Governmental Organisation in 2012 to find solutions to environmental problems inherent in the exploitation and exploration of oil by multinationals operating in the Niger-Delta region. Speaking to journalists at the inauguration of the group’s “Project Management Committee (PMC),” the Executive Director, SACA, Kingsley Ozegbe, hinted that statics available to his organisation through researches carried out revealed that in 2012 alone, about ...
Facebook report: U.S. a top target for foreign and domestic influence operations
The United States topped a list of the countries most frequently targeted by deceptive foreign influence operations using Facebook between 2017 and 2020, the social media company said in a new report released on Wednesday. It also came second on a list of countries targeted by domestic influence operations in that same time period. Facebook Inc said one of the top sources of coordinated inauthentic behavior networks targeting the United States in the year leading up to the 2020 presidential election was domestic campaigns originating in the United States itself, as well as foreign operations from Russia and Iran. The tallies were based on the number of “coordinated inauthentic behavior” networks removed by Facebook, a term it uses for a type of influence operations that relies on fake acco...
NNPC selects 26 firms to lift Nigeria’s crude oil
The Nigerian National Petroleum Corporation (NNPC) has picked 26 foreign and local companies as well as 12 countries to lift the country’s crude oil for the next two years. The crude term contracts, expected to run from 2021 through 2023, would see the firms and the selected nations, which would operate on a Government-to-Government (G2G) basis to purchase the commodity from the national oil company. The deal is coming less than a week after the corporation chose 16 oil and gas consortia for its new crude-for-fuel swap contracts for one year starting in August. The contracts, known as Direct Sale, Direct Purchase (DSDP) are high-stakes agreements used to supply nearly all of Nigeria’s petrol needs as well as cover some of its diesel and jet fuel consumption. However, in the fresh crude oil...
Shell’s pipeline spills 213 barrels of crude into Bayelsa community
The Okordia-Rumekpe 14-inch crude truckline operated by Shell Petroleum Development Company (SPDC) has discharged some 213 barrels of crude oil into Ikarama community in Bayelsa. SPDC’s Media Relations Manager, Mr Bamidele Odugbesan, confirmed the leakage and said that probe into the incident had been concluded. A Joint Investigative Visit’s (JIV) report obtained by newsmen on the incident on Thursday confirmed that the incident occured on April 7, while the investigation was concluded on April 12. JIV is a statutory probe into the cause of any recorded spill incident involving the oil firm, regulators, host communities and state ministries of environment. The JIV report concluded that the spill was an operational mishap traced to equipment failure which impacted nearby palm trees and fish...
DPR: We’ve accurate record of crude production
File Photo The Department of Petroleum Resources (DPR) on Friday debunked claims that the exact volume of crude oil produced in the country was not known. Mr Paul Osu, Head, Public Affairs, DPR, in a statement issued in Lagos, said every litre of crude produced in the country was adequately captured during the process of extraction. Osu said it was the responsibility of the DPR to monitor and account for crude oil production as basis for determining government’s revenue through royalty payments by operators for sustainable development. He said: “As a further step to boosting crude accounting process from production to export, DPR recently launched the National Production Monitoring System (NPMS). “NPMS is an online platform for direct and independent acquisition of production data from oil...
Arsenal legend Thierry Henry to quit social media
Arsenal legend Thierry Henry has vowed to remove himself from all social media from tomorrow until platforms such as Twitter, Facebook and Instagram take more serious action against racism and other abuses. Henry suggested that, as things stand, the companies are quicker to take action against copyright infringements than they are to the toxic behaviour poisoning the platforms. In a statement posted online, Henry said: “From tomorrow morning I will be removing myself from social media until the people in power are able to regulate their platforms with the same vigour and ferocity that they currently do when you infringe copyright. “The sheer volume of racism, bullying and resulting mental torture to individuals is too toxic to ignore. “There HAS to be some accountability. It is far too eas...
Official: NASRDA to launch another satellite in June
IBTimes The National Space Research and Development Agency (NASRDA) says it is putting modalities in place to launch a Cubesat ‘Edusat-2’ within the first half of the year. The Acting Director-General of NASRDA, Dr Francis Chizea, said this at the ongoing Science and Technology Expo on Tuesday in Abuja, where the agency showcased its research works and achievements. The science expo is with the theme “Science, Technology and Innovation for Economic Recovery and Sustainability Amidst the COVID-19 Challenges” and is a platform to showcase innovation within agencies of government, private research institutions, the academia, among other participants. Chizea explained that EduSat-2 was a build-up on EduSat-1 which the agency built in collaboration with Federal University of Technology, Akure a...
Lagos governor restructures works and infrastructure ministry
Lagos State Governor Babajide Sanwo-Olu has approved the restructuring of the State Ministry of Works and Infrastructure by re-establishing the Office of Works and Office of Infrastructure. In a statement released late Friday night, Lagos State Head of Service, Mr Hakeem Muri-Okunola, explained that the restructuring of the ministry was necessitated by the volume of work ahead of the present administration in the state led by Sanwo-Olu and the need to implement relevant structural reviews that would facilitate faster attainment of government’s policy objectives. The governor also approved the appointment of two new Permanent Secretaries in the Lagos State Public Service. They are; Arc. Adebayo Ayodeji Odusanya, who would serve as Permanent Secretary Office of Works, and Engr. Rotimi Idowu ...
Crypto ban: We acted in Nigerians’ best interest – CBN
The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, says the Bank’s decision to prohibit deposit money banks, non-banking institutions, and other financial institutions from facilitating trading and dealings in cryptocurrency is in the best interest of Nigerian depositors and the country’s financial system. Mr Emefiele made the declaration on Tuesday, February 23, 2021, while briefing a joint Senate Committee on Banking, Insurance and Other Financial Institutions; ICT and Cybercrime; and Capital Market, on its directive to institutions under its regulation. Describing the operations of cryptocurrencies as dangerous and opaque, the CBN Governor said the use of cryptocurrency contravened an existing law. He said given the fact that cryptocurrencies were issued by unregulated and...
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