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  • The Central Bank of Nigeria (CBN) has finally extended the deadline for the exchange of old naira notes by 10 days.

    In a press statement issued on Sunday, Godwin Emefiele, the CBN governor, said the new deadline is February 10, 2023.

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  • The U.S. reached its $31.4 trillion debt cap yesterday, the total amount it can borrow. The country is now gearing up for a bitter partisan battle over raising the cap, as the Treasury Department begins using a series of accounting maneuvers to ensure the federal government can keep paying its bills — and federal workers — ahead of what’s expec…Read More
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  • The crypto lender Genesis files for bankruptcy. The embattled company sought Chapter 11 after struggling in the wake of FTX’s collapse. It’s the latest blow to Genesis’s parent company, Digital Currency Group; another part of the crypto conglomerate, the industry publication CoinDesk, has hired Lazard to help it explore a sale.
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  • America hit its debt limit, raising economic fears and setting the stage for months of entrenched partisan warfare.

    The milestone of hitting the $31.4 trillion debt cap is the product of decades of tax cuts and increased government spending.

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  • There’s some good news for FTX creditors. Lawyers at Sullivan & Cromwell, the law firm advising on the bankruptcy of the fallen crypto exchange, disclosed yesterday that the company’s assets were worth roughly $5.5 billion, including $1.7 billion in cash and $3.5 billion in crypto assets. That makes this wider crypto rally significant for FTX cre…Read More
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