Crypto Scoop: Yellow Card raises $15million Series A Funding!

BTC, ETH change the bearish tide, with BTC breaking past the $45K resistance. As we observe the trends, here are the highlights of this week's crypto scoop:

• Yellow Card raises $15 million Series A funding
• Cardano, third-largest cryptocurrency in market Cap announces partnership with Chainlink
• Ethereum developer Virgil Griffith faces a lawsuit in North Korea
  

Yellow Card raises $15million Series A funding.

Africa's fastest-growing crypto exchange has announced a $15 million Series A funding, the largest ever to be led an African crypto exchange. The funds would be used to further the Pan African crypto exchange's vision, "financial inclusion for all." The Series A funding was led by Valar Ventures, Third Prime, and Castle Island Ventures, with participation from notable crypto and fintech firms. CEO of Yellow Card, Chris Maurice, noted, "Our mission has always been to make cryptocurrency accessible anywhere and everywhere across the African continent. Now, we have the backing to make that a reality, alongside an amazing team of investors who share our vision."

Yellow Card has, since its launch in Nigeria in 2018, expanded to include African countries like Ghana, Botswana, Cameroon, Tanzania, Uganda, among several others. Yellow Card is fully operational in 12 countries and, with its highly motivated and resourceful employees spread across 16 countries, is dedicated to making its vision a reality. The use and adoption of cryptocurrencies have risen steadily over the years, with African countries setting the pace. The funds will be channelled towards expanding the team and bringing Cryptocurrencies closer to the people, making it more accessible to Africans across the continent.

Cardano, the third-largest cryptocurrency in market Cap, announces a partnership with Chainlink.

Founder of Cardano, Charles Hoskinson, took to his Twitter account to announce a partnership with dish network, Chainlink. Cardano has often faced a lot of backlash regarding its limitation in setting up smart contracts. The partnership would allow Cardano developers improve on the Cardano blockchain to set up smart contracts.

This partnership would help integrate Cardano into the telecom business and also provide digital identity services to Dish users. The partnership with Chainlink would help integrate Cardono into the DeFi ecosystem by allowing them to develop smart contracts for DeFi applications. It is expected that the partnership would improve users' experience and interference with Cardano, increasing its application and use as a cryptocurrency.

Read also: Crypto Scoop: Cardano Becomes The Third-Largest Cryptocurrency

Ethereum Developer Virgil Griffith faces a lawsuit in North Korea.

Ethereum Developer Virgil Griffith has been charged with violating U.S. sanctions laws and has since pleaded guilty to the charges. Griffth was charged with violating the International Emergency Powers Act. Griffth has pleaded guilty to charges and now faces 63 to 78 months in prison, with his sentence scheduled to hold January 2022. Speaking on behalf of Griffith, his attorney Brian Klein noted, "Virgil is deeply remorseful. Setting aside what happened, he has made important contributions to society that we will raise with the court. He also has many wonderful qualities, and no one should define him by this mistake."

Griffth was initially arrested in November 2019 after delivering a presentation on cryptocurrency and blockchain at a North Korean conference. Although he had been released on bail in 2020, he was jailed once more for an attempt to violate the conditions of his bail. Griffth had, in an attempt to pay his attorney, tried to access his Coinbase holding, which was in violating of the terms of his bail agreement. He has also been charged with violating executive orders that prohibit certain transactions in North Korea. Most significantly, his presentation at the North Korean has been indicated as one of the premises for his arrest. The details of the presentation have not been made public, although there have been speculations that the content may have been leaked. Many were surprised by Griftth's guilty plea, and the crypto community awaits the verdict with bated breath.

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