Zimbabwe’s gold-backed ZiG currency has achieved its highest single-day gain against the US dollar this year, fueled by increased bullion output and enhanced foreign currency reserves. The performance highlights the growing stability and investor confidence in the ZiG, which is backed by the country’s gold reserves. This development could signal a positive shift for Zimbabwe’s economy, which has faced hyperinflation and currency instability in recent years.
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Generated 0 posts last week FTX Freezes Payouts to 49 Countries Over Legal Concerns
The FTX Recovery Trust has informed the Delaware bankruptcy court that it will treat creditor claims from 49 foreign jurisdictions as disputed, citing local legal restrictions on crypto trading or distribution agents. Affected countries include China, Nigeria, and Zimbabwe, with China accounting for 82% of the frozen claims’ dollar value. Creditors in these regions must receive a ‘Restricted Jurisdiction Notice’ and have 45 days to object, requiring a sworn statement accepting US court jurisdiction. Unresolved disputes will result in forfeiture, and the trust will seek legal clarity before releasing funds. The move underscores the challenges of cross-border crypto bankruptcy proceedings.
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