Here’s why Nigeria is no longer on JPMorgan’s emerging market sovereign list

JP Morgan, the global leader in financial services, has removed Nigeria from its emerging market sovereign list due to the Nigeria National Petroleum Corporation’s (NNPC) inability to transmit three months’ worth of oil earnings to the Federal Government. The American Bank’s emerging market sovereign advised investors to be “overweight” on Nigeria, citing Read more…

US leads Bitcoin mining as China ban takes effect

Miners earn money by creating new Bitcoins, but the computing power needed to do it consumes large amounts of energy.

They audit Bitcoin transactions in exchange for an opportunity to acquire the digital currency.

Global mining requires enormous computing power, which in turn uses huge amounts of electricity, and consequently contributes significantly to global emissions.

The CBECI, which is produced by the Cambridge Centre for Alternative Finance, tracks the geographic distribution of computing power used for mining Bitcoin – receiving data from a number of commercial Bitcoin mining pools.

The latest data, which covers the four months to the end of August, suggests that most Bitcoin mining (35.4%) is now US based, with Kazakhstan (18.1%) second and Russia (11%) third.

Dogecoin Values Surges as Much as 50 Percent as Crypto Mania Continues

Animal spirits are alive and well in the cryptocurrency world, with the frenzy sending Dogecoin surging as much as 50 percent again and crashing Robinhood’s trading app.

Other so-called Altcoins also took off, with Dash spiking as much as 14 percent and Ethereum Classic jumping more than 30 percent. In the world of DeFi, tokens such as Force DAO and Tierion surged more than 1,000 percent on Tuesday, according to CoinMarketCap.com data. Meanwhile, Robinhood said it resolved earlier issues with crypto trading on its platform.

“You have money looking for a home and this is one of those areas of the market where there is speculation happening, there is significant appreciation happening in a short period of time,” Chad Oviatt, director of investment management at Huntington Private Bank. “You get that excitement there.”

Trump launches new ‘communications’ platform

Donald Trump has launched a new “communications” website, which says it will publish content “straight from the desk” of the former US president.

Mr Trump was banned by Twitter and suspended by Facebook and YouTube after the Capitol riots in January.

The former president has since been releasing statements by press release – which the new website will now host.

Users will be able to like posts – and also share them on Twitter and Facebook accounts.