The recent outage of Amazon Web Services (AWS) serves as a glaring reminder of the inherent vulnerabilities within centralized systems, particularly in the realm of cryptocurrency. On April 15, major crypto platforms like Binance and KuCoin found themselves grappling with connectivity issues, prompting temporary withdrawal suspensions. With AWS powering a significant portion of the cloud
Exchanges
The cryptocurrency world is no stranger to dramatic upswings and sudden downturns, but the catastrophic plunge of the OM token from $6.30 to a staggering low of $0.50 on April 13 is a striking reminder of the market’s volatility. During this plunge, over $5 billion evaporated from its market capitalization, sending shockwaves through the ecosystem
In a bold move that underscores the growing tensions between traditional banking and the burgeoning crypto industry, Coinbase has taken a firm stand against the Federal Deposit Insurance Corporation (FDIC). The exchange has filed a legal objection to the FDIC’s request for an extension regarding the release of documents connected to the alleged debanking of
The recent push by major South Korean banks to reform the country’s restrictive banking-to-crypto exchange policy is long overdue. The existing one-bank-per-exchange framework, first implemented in 2018, was ostensibly designed to bolster anti-money laundering measures. However, it has morphed into a bureaucratic nightmare that stifles competition and innovation. The rigid exclusivity of this system severely
In the heart of the cryptocurrency revolution, the listing of SUN (SUN) on Kraken, one of the world’s most reputable exchanges, is nothing short of monumental. This move is indicative of a broader trend where decentralized finance (DeFi) is becoming more mainstream, and platforms like Kraken are essentially bridging the gap between traditional finance and
The collapse of FTX, once viewed as a leading cryptocurrency exchange, led to seismic shifts in the financial landscape. Founded by Sam Bankman-Fried, the exchange’s downfall raised global eyebrows over the integrity and management of crypto platforms. Amidst allegations of fraud and financial mismanagement, Bankman-Fried’s conviction became a focal point in discussions about accountability in
The Australian Securities and Investments Commission (ASIC) has initiated a landmark lawsuit against Oztures Trading Ltd, which operates Binance Australia Derivatives, accusing the firm of inadequate consumer protection practices. The lawsuit centers on the misclassification of over 500 retail investors as wholesale clients, thereby depriving them of essential consumer safeguards that are typically provided under
The Indian cryptocurrency exchange WazirX is currently under intense scrutiny following a recent directive from the Delhi High Court. This situation is compounded by Binance’s decision to delist WazirX’s native token, WRX, marking a significant turning point for the exchange that was once a major player in the crypto market. The mounting challenges facing WazirX
In its latest transparency report, Coinbase, one of the world’s leading cryptocurrency exchanges, revealed a notable decrease in law enforcement requests during the last year. The figure dropped to 10,707, reflecting an 18% decline compared to the previous year. This trend raises questions about the evolving relationship between cryptocurrency platforms and governmental oversight, particularly against
The ongoing legal entanglement between Coinbase, a leading cryptocurrency exchange, and BiT Global represents a pivotal moment in the evolving landscape of digital assets. At the heart of this dispute lies the controversial decision by Coinbase to delist wrapped Bitcoin (WBTC), a significant move that has drawn sharp criticism and litigation from BiT Global. This
In a significant step towards legitimizing cryptocurrency operations, El Salvador’s Central Reserve Bank has awarded Bitget a Bitcoin Service Provider (BSP) license. This announcement, publicized on December 16, indicates that Bitget is now authorized to engage in various Bitcoin-related services within the country, a move that reflects El Salvador’s progressive stance on crypto adoption. The
In a significant move that underlines the ongoing competitive tensions in the cryptocurrency market, BiT Global has initiated legal proceedings against Coinbase, the preeminent crypto trading platform in the United States. A court filing dated December 13 reveals that BiT Global, known to be associated with prominent crypto figure Justin Sun, accuses Coinbase of unfairly
GateToken, the cryptocurrency linked to the Gate.io exchange, has recently experienced a remarkable rally, peaking at an impressive $13.79 before settling slightly lower at $13.29. This surge has unfolded against a backdrop of swirling rumors regarding a purported security breach attributed to the exchange. Notably, this spike demonstrates the token’s volatility and the complex relationships
In a remarkable display of dominance, Binance has solidified its status as the world’s preeminent cryptocurrency exchange, reporting staggering customer deposits that reached an impressive $21.6 billion in 2024. This landmark figure not only showcases Binance’s supremacy but also highlights the considerable gap between it and its nearest competitors. According to a recent report by
