Gemini, a prominent crypto exchange, announced that users of its Earn product have received a significant portion of their digital assets, totaling $2.18 billion. This recovery amounts to 97% of the total digital assets owed to Earn users, showcasing a remarkable turnaround since the collapse of crypto lender Genesis, which ceased withdrawals in November 2022.
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The Rehabilitation Trustee of the defunct crypto exchange Mt. Gox has confirmed that it has not sold its significant Bitcoin holdings despite transferring over 140,000 BTC (approximately $10 billion) today. The trustee clarified in a statement that preparations to repay creditors were ongoing. According to the firm, the bankruptcy process will compensate creditors with fiat
In a recent motion for an interlocutory appeal filed with the US District Court for the Southern District of New York, Coinbase accused the SEC of attempting to evade the Howey test by not addressing whether digital asset transactions without post-sale obligations can be considered investment contracts. This legal maneuver could have far-reaching implications for
Recently, rumors about Bybit’s alleged insolvency have been circulating on social media. These rumors suggest that a bug in a proof-of-reserves graph from Arkham Intelligence may have sparked the speculation. However, CEO Ben Zhou has firmly denied these claims, stating that they are baseless and lack any real facts to support them. To reinforce his
In a significant turn of events, the First District Court of Appeals in Florida has overturned an Emergency Suspension Order (ESO) that was issued by the Office of Financial Regulation against Binance.US. The ruling, which was made on May 22, came after the cryptocurrency exchange challenged the suspension order, arguing that it contained procedural errors
Recently, France’s Autorité des Marchés Financiers (AMF) issued a warning to French crypto investors regarding Bybit, stating that the platform is not registered in the country. The financial regulator urged retail investors to exercise caution when considering investment proposals from Bybit, emphasizing that the platform is not authorized to provide its services in France. Bybit,
Following a system-wide outage that lasted for over three hours, Coinbase claimed to have resumed operations. However, many customers took to social media to express their frustrations, stating that they were still unable to withdraw their funds. One user, Nigel Dias, shared his experience of encountering a message stating, “Sending to this recipient is temporarily
The recent exclusive report by The Wall Street Journal shed light on a disturbing incident at Binance, the largest crypto exchange globally. The report claimed that the head of Binance’s market surveillance team was terminated after raising concerns about potential market manipulation by a prominent client. The client in question, DWF Labs, allegedly engaged in
Japanese exchange Coincheck is making waves in the cryptocurrency world with its plans to join Coinbase as one of the two publicly listed exchanges in the United States. The company is set to complete its listing on the Nasdaq via a partnership with special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV (THCP) by
The recent detention of Tigran Gambaryan, an executive at Binance, has raised concerns and drawn attention from the CEO, Richard Teng. Teng has spoken out against the unjust treatment of Gambaryan, emphasizing that his detention sets a dangerous precedent for companies globally. Gambaryan, a US citizen overseeing Binance’s financial crime compliance department, was apprehended alongside
In the aftermath of the SEC’s crackdown on crypto firms, Bitwise Investments CIO Matt Hougan brought attention to the potential advantages enjoyed by US crypto exchange Coinbase due to the current regulatory landscape. Hougan suggested that the regulatory challenges inadvertently create an “artificial moat” for Coinbase, providing the platform with a competitive edge over its
Recently, six Coinbase customers decided to take legal action against the popular cryptocurrency exchange, Coinbase Global. The lawsuit targets not only the parent company but also two subsidiaries – Coinbase, Inc. and Coinbase Asset Management, LLC, as well as the CEO, Brian Armstrong. The crux of the lawsuit revolves around the classification of digital assets
The recent guilty plea of Alexander Vinnik, a Russian national who operated the crypto exchange BTC-e, has shed light on the dark side of the cryptocurrency world. Vinnik pled guilty to charges of money laundering conspiracy in the US, revealing the extent of illegal activities that took place on the platform. BTC-e, once one of
Coinbase recently reported a staggering $1.64 billion in revenues for the first quarter, surpassing the expected amount of $1.34 billion. This surge in revenue comes at a time when the crypto market is experiencing a robust Bitcoin rally, massively impacting industry players like Coinbase. The company’s earnings per share stood at $4.40, a significant improvement