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Tekedia Capital Congratulates Binta for Its New Award

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Tekedia Capital portfolio company, Binta Financial , wins a major award in Canada. Binta’s services are intended to help immigrants and new arrivals. Binta: keep winning. At Tekedia Capital, we’re breeding future unicorns https://capital.tekedia.com/
 
Meanwhile, we have announced the timeline for Tekedia Oct 2024 Investment Cycle:
– Venture Investing and Portfolio Management program – begins Sept 23, 2024
– Publication of startups for Tekedia Capital Investment Cycle – Oct 7, 2024
– Startup Demo Day: Saturday, Oct 19, 2024

Nigerian Banks Suffer N42.6 Billion Loss to Fraud in Q2 2024, Amid Surge in Financial Crimes

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The Nigerian banking sector witnessed a staggering rise in fraudulent activities in the second quarter (Q2) of 2024, amounting to a total loss of N42.6 billion between April and June.

This was disclosed by the Financial Institutions Training Centre (FITC) in its recently released Q2 2024 Fraud and Forgeries report. The loss recorded in Q2 2024 alone eclipsed the total amount lost to fraud throughout 2023, where Nigerian banks collectively lost N9.4 billion.

A breakdown of the figures revealed a significant escalation in fraud-related losses quarter-on-quarter, with a staggering 8,993% increase compared to the N468.4 million lost in Q1 2024. Compared to the N5.7 billion loss in Q2 2023, this year’s Q2 figures represent a 637% increase.

Major Fraud Types And Channels

According to FITC, miscellaneous and other types of fraud accounted for the largest share of the losses, making up 96.46% of the total amount lost in Q2. This category alone accounted for N41.14 billion. Other significant losses were attributed to fraudulent withdrawals, which cost banks N781.2 million, and computer/web fraud, amounted to N400.7 million in losses.

The total amount involved in fraud cases during Q2 2024 saw a dramatic 1,784% increase, surging from N2.9 billion in Q1 to an astonishing N56.3 billion by Q2. Fraudulent activities were perpetrated through various channels, including ATMs, online platforms such as web and mobile banking, bank branches, and point-of-sale (POS) terminals.

Interestingly, despite the overall rise in fraud, card-related fraud experienced a decline of 47.66%, with cases dropping from 21,469 in Q1 to 11,237 in Q2. In contrast, fraudulent activity involving cheques and cash increased by 36.67% and 9.09%, respectively, with cheques surging from 30 cases in Q1 to 41 cases in Q2, while the use of cash rose from 209 in the first quarter of 2024 to 228 in the second quarter of 2024.

Cash-related fraud also saw a modest rise of 9.09%, increasing to 228 cases in the second quarter of 2024. A more detailed analysis revealed that fraud losses through bank branches saw an astronomical increase of 31,497%, surging from N133.9 million in Q1 to N42.2 billion in Q2. Computer and web-based fraud also experienced a massive jump, with losses growing 1,560%, from N24 million in Q1 to N400.8 million in Q2.

Despite the overall trend of increasing fraud, mobile fraud recorded a decline. The amount lost via mobile channels decreased by 59%, falling from N216.4 million in Q1 to N88.7 million in Q2 2024. However, the FITC report did not provide specific data regarding losses due to ATM-related fraud. The surge in fraud across Nigerian banking platforms poses significant challenges for financial institutions, regulators, and consumers alike.

As fraud becomes more sophisticated and widespread, the FITC proposed that deposit money institutions can utilize AI-driven tools that flag unusual entries or patterns to implement continuous and automated monitoring systems that can detect anomalies or discrepancies in settlement files. Additionally, regular unannounced internal audits focusing specifically on settlement processes can be conducted to identify and address any irregularities promptly.

Solana Whale Who Made $7,000,000 in 2021 Has Moved Big Money into This Cardano Alternative Priced Under $0.10—Here’s What He Sees

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A whale who made $7 million from Solana in 2021 is now moving substantial funds into a new crypto priced under $0.10. The investor, known for early Solana investments, has turned their focus to Rexas Finance (RXS), a platform revolutionizing the real-world asset (RWA) market. Solana, which surged by over 11,000% in 2021, demonstrates the potential that early investment in innovative platforms can have. Now, Rexas Finance, with its current presale price of $0.04, is drawing the same kind of attention for its ability to tokenize real-world assets on the blockchain. 

Solana’s History of Success

Solana, which began 2021 trading at $1.59, gained fame for its rapid transaction speeds and low costs, positioning itself as a top-five cryptocurrency by market value. Early investors who saw the potential in Solana were rewarded with massive returns, as the token peaked at $259 in late 2021. Solana’s key advantage lay in its proof-of-history validation method, which allowed it to process over 2,000 transactions per second at a fraction of a cent per transaction. However, as the crypto market evolves, whales like this particular Solana investor are constantly on the lookout for the next major opportunity. 

Rexas Finance: Tokenizing Real-World Assets

The whale’s new target, Rexas Finance, is focused on tokenizing real-world assets, a market estimated at nearly $380 trillion. This platform enables users to purchase fractional ownership of assets like real estate, gold, or commodities. Rexas Finance is set to transform the investment world by allowing anyone to own part of a property with a few clicks. Investors from around the globe can own a stake in valuable assets, like a piece of prime real estate in New York or London, all without the barriers of traditional ownership.

Rexas Finance Token Builder and Launchpad

Rexas Finance’s appeal lies in its suite of tools, starting with its Token Builder. The feature enables users to tokenize assets without technical expertise, simplifying the process of creating and trading asset-backed tokens. Additionally, Rexas Finance’s Launchpad offers a fundraising mechanism, enabling businesses to raise capital through token offerings. Essentially, Rexas Finance is creating a new avenue for wealth creation, which is attracting both retail and institutional investors. 

Rexas Estate and Other Key Utilities

Rexas Estate is another feature that simplifies real estate transactions on the blockchain. Investors can buy, sell, and trade real estate fractions with ease, providing liquidity in traditionally illiquid markets. Rexas Finance also offers additional tools like Quickmint Bot, which speeds up token creation, and GenAI, an AI tool that helps investors make informed decisions. AI Shield ensures the security of each transaction, safeguarding against fraud. 

Rexas Finance Tokenomics and Presale Details

Rexas Finance (RXS) operates on the ERC network with a total supply of 1 billion tokens. The project’s tokenomics are designed for sustainable growth, with 42.5% of tokens reserved for the public presale, 15% for liquidity, and 22.5% for staking rewards. Unlike many projects that rely on venture capital funding, Rexas Finance opted for a public presale, ensuring that everyday investors get in early. The first stage of the presale sold out rapidly, raising $450,000. Now in its second stage, RXS is priced at $0.04, up 34% from the initial price, with strong demand driving the presale forward. 

Looking Ahead: A New Chapter in Crypto Investment

The Solana whale’s decision to move millions into Rexas Finance shows a strong belief in the future of asset tokenization. Just as Solana provided early investors with monumental gains, Rexas Finance offers a unique opportunity for those looking to get in on the ground floor of a rapidly expanding market. With real-world asset tokenization becoming more mainstream, platforms like Rexas Finance are set to change how we invest.

 

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

The Bullish Case Of Top Altcoins: Moonbag (MBAG), Blockdag (BDAG), Bonk (BONK) & Yeti Ouro (YETIO)

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The cryptocurrency market is constantly developing, and new altcoins appear with projected high profitability and new features. In this respect, MoonBag, Blockdag, Bonk, and Yeti Ouro (YETIO) tokens present investment opportunities. This article focuses on exploring the possibilities of these altcoins, detailing some of their characteristics, their markets, and why they are set to be the next best thing in the crypto market.

MoonBag (MBAG)

MoonBag has become popular in the cryptocurrency market mainly because of its well-deserved due to structured presale stages and clear investment. It is crucial to point out that the presale is divided into several stages, where the price of one coin increases with each stage, but the potential profits for early investors are much higher. Until now, MoonBag has managed to collect more than $4 million during the presale stage, showing investors’ interest and their desire to expand the business.

Is it not lovely to get 88% Annual Percentage Yield (APY) on staking at MoonBag based on the period you want your stake to stand? As a result of this high APY, it is currently one of the best-paying projects in the cryptocurrency space. Further, MoonBag has limited the tax to zero, making it one of the most influential meme coins, and the current and potential partnerships are strategic for the project.

MoonBag has been highly successful in its presale. By stage 7, the price of each of the MBAG coins had risen to $0.0005, delivering a staggering 2400% return on investment (ROI). The assumption that MBAG’s price will go up to $0.003 upon the launch on various crypto exchanges makes it ideal for investment.

Blockdag

It has been a week of partnerships and record financial achievements for BlockDAG, a cryptocurrency arm. BlockDAG aims to partner with famous soccer teams and has signed an agreement worth $10 million with the German Borussia Dortmund. This three-year deal upgrades BlockDAG to become a Premium Partner and will bring BlockDAG into the global limelight. Such high-profile partnerships, therefore, become strategic moves in the quest to gain more credibility and attract a wider audience.

Nevertheless, BlockDAG has already managed to collect $70.3 million through its ongoing presale. This rather large number of spectators shows the high interest of investors in the platform. Strong growth and market interest were shown during the presale: the market value of the 22 batches of BlockDAG tokens has increased by 1,680%.

BlockDAG’s presale is set to go through by the end of the year, reaching $600M through affiliation with Borussia Dortmund. If this is done, BlockDAG may be among the top thirty digital currencies in terms of market valuation. Moreover, extrapolations of the above models indicate that the token price could possibly reach $1 from the present $0.0178. The first fund could reap early investors’ gains of over 5,500% of ROI.

Bonk’s (BONK)

Bonk current scenario shows that by September 2024, the coin’s price will be around $0.00001665, lower by -4.84% within 24 hours. The coin’s market capitalization is approximately $1.17 billion, with a daily trading volume of 92.6 million. Bonk has a circulating supply of roughly 70.34 trillion BONK coins and a total supply of 92.88 trillion BONK coins.

Since the launch of Bonk, it has been through a raw phase of volatile prices. It has reached its peak of $0.00004704 by March 2024 and has high growth indicators; hence, it can grow very fast. However, for the recent consolidation, Bonk’s price is still oscillating within an established range with a support level of $0.00001630 and experiencing a reversal at $0.00001818. For Bonk, it has high and low expectations, where analysts forecast a gradual growth in the upcoming year and up to $0.000085 by the end of the year 2024. Overall, the analysis of Bonk’s market performance suggests that investment in this stock is viable as it presents both higher risk and potential return.

Yeti Ouro (YETIO)

Yeti Ouro (YETIO) is still in its first presale phase, and it is currently trading at $0.012 per token. This presale stage is one of the best moments for investors to get involved. Yeti Ouro has attracted visibility amongst the investors right away.

It aims to combine Cryptocurrency with Gaming through its next Play to Earn (P2E) game, Yeti Go,” an action-packed racing game created using Unreal Engine 5. The tokenomics of the project has been designed with great attention to detail and combined with a top-notch technical team and advisers. Yeti Ouro’s plan is divided into such stages as community creation, ecosystem growth, and constant improvement; it focuses on financial enablement and accountability.

The outlook on Yeti Ouro is extremely positive, as analysts expect significant profits in the next few months. In a broader view, Yeti Ouro is an attractive opportunity to invest in cryptocurrencies, which are still in their infancy.

Conclusion

To sum up, Yeti Ouro (YETIO) is a relatively high investment potential in cryptocurrency. Due to its unique characteristics and high growth possibilities, along with partnerships, $YETIO is set to succeed and dominate the market. Yeti Ouro which is set to yield 100X by the end of the year. The robust security it provides through their audit by Solidproof, is notably attractive to investors.

Don’t miss out on this chance to invest in the future of cryptocurrency – learn more about Yeti Ouro and join the presale today at

Market Movers: Experts Pick Top Altcoins Shaking Up The Crypto Space

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Three tokens— BRETT, THORChain, and Angry Pepe Fork—have drawn the attention of analysts in the crypto space because of their innovative promise. Though each is making waves in the crypto market in different ways, one particularly seems to be the real deal – Angry Pepe Fork.

Angry Pepe Fork (APORK) is a rebel memecoin for those who are tired of the status quo. What distinguishes APORK and why are insiders so keen to see where it is headed next? Meanwhile, let’s examine these market movers in more depth.

Angry Pepe Fork Is Getting Investors’ Attention

Angry Pepe Fork, a community-driven memecoin, changes the status quo by offering utility and a massive earning potential for investors even during the presale. Moreover, this project values long-term growth, hence the total token supply is capped at 1.9 billion to promote scarcity.

Eventually, this scarcity will lead to a significant value appreciation of the APORK token. With its foundation in the Solana blockchain and its potential for speedy transactions and scalability, APORK is poised to challenge other established memecoins in the market.

With tokens priced at just $0.02518 during the first presale stage, investors can stockpile them ahead of the expected spike. Now is the right time to buy APORK tokens before the value jumps, perhaps by 2x, in the next presale stage. You wouldn’t want to miss out.

BRETT Price Rallies

The BRETT coin had a significant spike in price after being listed on Upbit. In addition, the token’s Relative Strength Index (RSI) of 77.46 indicates that it is strongly trending upward. This means that the BRETT coin may be approaching the $0.083 resistance level soon.

Furthermore, BRETT has a volume-to-market-cap ratio of 0.2833, which suggests that it has strong liquidity. The coin has a fair amount of trading activity, with a market cap of $790 million. Also, the BRETT price increase of over 100% over the past 6 months demonstrates its potential.

Meanwhile, BRETT is considered a good crypto to invest in at the moment since it is growing along with Base Chain and its Base Chain ID, which ensures seamless interoperability across various decentralized platforms, further cementing its role in the larger cryptocurrency market

THORChain Price Rallies

The THORChain price has increased by over 8% in the past week, trading above $3.8. With a volume-to-market cap ratio of 0.1141, the THORChain coin is showing impressive liquidity at the time of this increase.

Meanwhile, John-Paul Thorbjornsen, the creator of THORChain, announced that the Rujira Alliance will provide a variety of DeFi services over eight chains, indicating a promising future for the protocol.

The positive view for the THORChain coin is significantly strengthened by the technical indications. THORChain is currently exhibiting significant upward momentum, trading an amazing 36.61% above its 200-day simple moving average of $2.93.

APORK May Soon Rally Beyond BRETT and THORChain

While BRETT and THORChain record price increases, APORK is poised to outperform the rivals with its creative “Conquer To Earn” approach and limited 1.9 billion token supply. Priced at just $0.025 during its first presale stage, now is the best time to secure your investment before its value skyrockets. You wouldn’t want to miss out.

Website: https://angrypepefork.com/

Presale: Visit Angry Pepe Fork Presale

Telegram: https://t.me/AngryPepeFork

Twitter: https://x.com/AngryPorkCoin