Category: Exchanges

  • The Future of Solana Liquid Staking: Binance and Bybit Hint at New Products

    The Future of Solana Liquid Staking: Binance and Bybit Hint at New Products

    Recently, crypto exchanges Binance and Bybit have given hints about launching new Solana-related products, sparking speculation within the crypto community. Binance’s official X account posted a mysterious “BNSOL” message followed by “coming soon,” while Bybit introduced a new product, “bbSol,” on its platform. Despite the lack of specific details, many believe that these clues suggest…

  • The Aftermath of WazirX’s $234 Million Hack: A Complex Legal Battle Unfolds

    The Aftermath of WazirX’s $234 Million Hack: A Complex Legal Battle Unfolds

    After the $234 million hack of WazirX in July, the crypto platform has found itself in a legal battle as CoinSwitch announced its intention to pursue legal action to recover approximately $9.6 million in digital assets trapped on WazirX’s exchange. Following this development, WazirX entered into an initial 30-day moratorium to draft a restructuring plan,…

  • The Pushback Against Ryan Salame’s Attempt to Void His Guilty Plea

    The Pushback Against Ryan Salame’s Attempt to Void His Guilty Plea

    The US government recently responded to former FTX executive Ryan Salame’s attempt to void his guilty plea. Salame claims that his plea was based on false promises from prosecutors regarding their investigation into his partner, Michelle Bond. However, the US Attorney’s Office labeled Salame’s allegations as “demonstrably false” in a recent filing. They emphasized that…

  • WazirX Exchange Faces Challenges in Restructuring Process

    WazirX Exchange Faces Challenges in Restructuring Process

    Cryptocurrency exchange WazirX is currently facing challenges in its restructuring process as external parties not invested in the platform may try to prolong the process for their own gains. These parties are aiming to create and maintain uncertainty rather than find a resolution, leading to delays in resolving the situation. WazirX announced a comprehensive restructuring…

  • The Legal Troubles of Crypto Exchange Kraken

    The Legal Troubles of Crypto Exchange Kraken

    Kraken, a popular cryptocurrency exchange, recently faced a setback in court as a US federal judge denied its request to dismiss a lawsuit filed by the Securities and Exchange Commission (SEC). The lawsuit, which was filed in November, accuses Kraken of operating an unregistered securities exchange, broker, dealer, and clearing agency. The SEC claims that…

  • Coinbase Supports Polygon’s Migration to POL Token

    Coinbase Supports Polygon’s Migration to POL Token

    Coinbase, a major crypto exchange, recently declared its support for the Ethereum layer-2 network Polygon’s planned token upgrade from MATIC tokens to the new Polygon Ecosystem Token (POL). The exchange revealed its intention to start migrating the Polygon ticker from MATIC to POL on August 26. This migration process will be completed over the next…

  • Binance Prevents Over $2.4 Billion in Potential User Losses from Scams and Fraud

    Binance Prevents Over $2.4 Billion in Potential User Losses from Scams and Fraud

    In a recent statement, Binance, the leading cryptocurrency exchange, announced that it had successfully prevented over $2.4 billion in potential user losses from scams and fraud within the first seven months of 2024. The exchange reported that a significant portion of the averted losses, amounting to over $1.1 billion, were withdrawals linked to suspected crypto…

  • The Aftermath of the WazirX Hack: Enhancing Security Measures

    The Aftermath of the WazirX Hack: Enhancing Security Measures

    Following the recent $235 million hack targeting Indian crypto exchange WazirX, the company has decided to terminate its asset custody arrangement with Liminal. In an effort to bolster the security of its remaining assets post-breach, WazirX has shifted its assets from Liminal to new multi-signature wallets. This move is crucial to safeguarding the assets, as…

  • The Impact of Regulatory Crackdown on Crypto Exchange Binance in Brazil

    The Impact of Regulatory Crackdown on Crypto Exchange Binance in Brazil

    Recently, it was reported that crypto exchange Binance has agreed to pay Brazilian regulators $1.76 million to settle allegations of unlicensed derivatives trading in the country. This settlement comes after a year-long investigation by the Comissão de Valores Mobiliários (CVM), Brazil’s securities regulator. The regulatory crackdown began in July 2020 when the CVM ordered Binance…

  • The Downfall of Australia Securities Exchange’s Blockchain Project

    The Downfall of Australia Securities Exchange’s Blockchain Project

    Australia’s Securities and Investments Commission (ASIC) has taken legal action against the Australia Securities Exchange (ASX) Ltd., alleging that the exchange made misleading statements regarding its blockchain trade settlement project. According to ASIC, the ASX falsely claimed that the project was on track for a launch in April 2023 and that it was making progress…

  • The Controversy Surrounding Binance.US and CoinMarketCap Lawsuit

    The Controversy Surrounding Binance.US and CoinMarketCap Lawsuit

    A recent development in the crypto space involves a class-action lawsuit against Binance.US, the US subsidiary of the Binance exchange, and CoinMarketCap. The plaintiff, Ryan Cox, has brought forth claims of price manipulation of the Hex token against these platforms. The lawsuit alleges that Binance.US and CoinMarketCap unfairly manipulated the ranking and value of the…

  • Coinbase Challenges SEC’s Proposal to Regulate Decentralized Exchanges

    Coinbase Challenges SEC’s Proposal to Regulate Decentralized Exchanges

    Coinbase has taken a firm stance against the US Securities and Exchange Commission (SEC) in response to its proposal to broaden the definition of “exchange” to include decentralized exchanges (DEXs). The exchange’s comment letter, addressed to SEC Secretary Vanessa A. Countryman, highlights significant concerns regarding the potential consequences of such a rule change on the…

  • Impact of Government Restrictions on Binance and Social Media in Venezuela

    Impact of Government Restrictions on Binance and Social Media in Venezuela

    The Venezuelan government recently imposed restrictions on various websites, including Binance, following controversial presidential election results. Binance, one of the largest crypto exchanges globally, confirmed on August 10 that its website was facing access restrictions in Venezuela. This has raised concerns among users in the country who rely on Binance for peer-to-peer transactions of stablecoins…

  • The Impact of Operation Chokepoint 2.0 on the Cryptocurrency Industry

    The Impact of Operation Chokepoint 2.0 on the Cryptocurrency Industry

    The recent regulatory action by the US Federal Reserve against Customers Bank has raised concerns in the cryptocurrency industry. The Fed’s move was prompted by violations of the Bank Secrecy Act, Anti-Money Laundering laws, and OFAC regulations due to the bank’s involvement with digital assets. Customers Bank has been mandated to enhance its oversight, risk…