News Explorer — Nigeria's Currency Crisis Leads to Stablecoin Surge, With Binance Playing a Key Role in Driving Adoption

Generated by AI, curated by humans

Oct 25, 7:00 am

DL News

Nigeria's Currency Crisis Leads to Stablecoin Surge, With Binance Playing a Key Role in Driving Adoption

The popularity of stablecoins, particularly Tether's USDT, has soared in Nigeria amid the country's currency crisis. The Nigerian Naira has lost 65% of its value to the U.S. dollar, leading households and businesses to turn to stablecoins and Bitcoin to preserve their wealth and facilitate payments. Binance, with its easy access to USDT and crypto, has played a key role in driving crypto adoption in Nigeria.

The popularity of stablecoins, particularly Tether's USDT, has soared in Nigeria amid the country's currency crisis. The Nigerian Naira has lost 65% of its value to the U.S. dollar, leading households and businesses to turn to stablecoins and Bitcoin to preserve their wealth and facilitate payments. Binance, with its easy access to USDT and crypto, has played a key role in driving crypto adoption in Nigeria.

Latest

Nov 8, 5:19 pm

Decrypt

Bitwise ETF's Hot Start Suggests Sizable Demand for Solana Funds

The Bitwise Solana Staking ETF (BSOL) has attracted over $545 million in net inflows since its launch, with $126 million... Read Summary

Nov 8, 2:01 pm

Decrypt

This Pack of Trading Cards Could Contain Over $100K in Bitcoin

Cardsmiths released its Currency Series 5 with five cards redeemable for 1 Bitcoin each, valued at over $100,000. The se... Read Summary

Nov 7, 6:29 pm

Decrypt

Bitwise Plans to Unveil a Dogecoin ETF Pending SEC Approval, Offering Investors Exposure to DOGE

A Bitwise exchange-traded fund tracking Dogecoin may be available to investors by the end of November pending SEC approv... Read Summary

Nov 7, 6:20 pm

Forbes

Standard Chartered Predicts a $1 Trillion Deposit Shift to Stablecoins, Impacting Emerging Market Economies

Stablecoins are becoming a powerful tool in both developed and emerging markets, with potential impacts on financial stability. Standard Chartered warns of a $1 trillion deposit shift f... Read Summary

Nov 7, 6:04 pm

Decrypt

Trump Media & Technology Faces Multi-million Dollar Losses Despite Bitcoin Investments

Trump Media & Technology reported a $54.8 million net loss in the third quarter of 2025, despite investing billions in B... Read Summary

Nov 7, 5:36 pm

bitcoinmagazine.com

My First Bitcoin, Founded in 2021, Is Evolving Into a Global Movement Empowering Educators and Students

My First Bitcoin, founded in 2021, has grown rapidly, teaching over 27,000 students and creating the world’s first Bitco... Read Summary

Nov 7, 5:40 pm

Decrypt

Cathie Wood Buys the BitMine Dip After Ark Invest Slashes Bitcoin Price Target

Ark Invest, led by Cathie Wood, purchased $9.2 million worth of BitMine Immersion Technologies shares, totaling $260 mil... Read Summary

Nov 7, 4:42 pm

Decrypt

Strategy Introduces STRE to Raise $715 Million in Europe, Offering a 10% Dividend for Bitcoin Acquisitions

Strategy's new Perpetual Stream Preferred Stock (STRE) is set to raise $715 million by being listed on the Euro MTF Luxe... Read Summary

Nov 7, 1:43 pm

Decrypt

Bitcoin ETFs Finally Break Losing Streak With $240 Million in Fresh Investment

U.S. Bitcoin ETFs saw a turnaround with $240 million in net inflows after a week of heavy outflows, led by BlackRock, Fi... Read Summary

Nov 7, 12:55 pm

Decrypt

Japan's Three Largest Banks Plan Stablecoin Pilot for 2026 Launch

Japan's financial regulator has approved a stablecoin pilot involving the country's three largest banks: MUFG Bank, Sumi... Read Summary

Nov 7, 6:00 am

news.bloomberglaw.com

Kazakhstan Plans $1B National Crypto Reserve Using Seized Assets

Kazakhstan plans to build a national crypto reserve of between $500 million and $1 billion, funded using assets seized a... Read Summary

Nov 7, 12:18 pm

Decrypt

Stablecoin Giant Tether Boosts Bitcoin Stash to Nearly $9 Billion

Tether recently purchased 961 BTC worth $97.18 million during a market dip, following its policy of allocating 15% of ne... Read Summary

Nov 7, 11:08 am

Decrypt

Crypto Intelligence Aids in Child Abuse Material Network Shutdown

A joint operation involving authorities from the US, Germany, and Brazil utilized blockchain intelligence to arrest the... Read Summary

Nov 7, 10:00 am

Coindesk

Bitcoin Miner IREN Posts Record Revenue Amid Growing AI Push

IREN reported a significant increase in net income and total revenue for the fiscal first quarter, driven by expansion i... Read Summary

Nov 7, 8:42 am

Coindesk

Bitcoin Slide Could Be Bad News for Stocks, Says Citi

Citi analysts suggest that bitcoin's recent slump below its 55-day moving average could weaken the equity market's risk-... Read Summary