In a significant development for the cryptocurrency landscape in South Korea, regulators have unearthed alarming Know-Your-Customer (KYC) violations associated with Upbit, the country’s leading digital asset exchange. As part of routine renewal checks for its business license, the Financial Intelligence Unit (FIU) of the Financial Services Commission (FSC) has highlighted serious compliance shortcomings on the
Exchanges
The recent cybersecurity incident involving WazirX, a prominent crypto exchange, has resulted in a significant loss totaling $235 million. As investigations unfold, significant developments have emerged, including the arrest of an alleged perpetrator and a pronounced effort by WazirX to recover its assets. This article takes a closer look at the situation, examining the dynamics
The recent United States elections have triggered an unprecedented shift in the cryptocurrency market, with Binance, the leading exchange in the sector, witnessing a tidal wave of capital inflows. According to a recent CryptoSlate report dated November 12, following the elections held on November 5, the platform experienced an astounding inflow exceeding $7 billion. This
In the ever-evolving world of cryptocurrency, few events ignite as much debate as the listing of new tokens on prominent exchanges. Recently, Binance, the largest cryptocurrency exchange in terms of trading volume, made headlines by listing two Solana-based memecoins: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT). Following their listing, both tokens experienced dramatic
In the ever-evolving landscape of cryptocurrency, leadership within regulatory bodies plays a critical role in shaping the future of the industry. Recently, Coinbase CEO Brian Armstrong publicly endorsed Hester Peirce’s potential appointment as the leader of the Securities and Exchange Commission (SEC) during a possible second term for President Donald Trump. Peirce, who has garnered
In the evolving landscape of cryptocurrency and blockchain technology, security remains a prime concern for both users and exchanges. The Indian cryptocurrency exchange WazirX is currently navigating the turbulent waters of recovering trust after a monumental hack in July 2024, which resulted in a staggering loss of $235 million. In response, WazirX announced plans to
The collapse of the cryptocurrency exchange FTX could be considered one of the most notable failures in recent financial history. As the dust continues to settle, various legal battles are emerging from the ashes of this implosion. FTX’s recent lawsuit against Ryan Salame, the former co-CEO of its Bahamian subsidiary, is a striking example of
In a significant development for the cryptocurrency market, Mt. Gox, once one of the leading crypto exchanges before its downfall, has moved an astounding amount of Bitcoin into newly created wallets. Recent reports indicate the transfer of over $2 billion worth of Bitcoin, equating to about 30,371 BTC, on November 4, 2023. The transactions were
In a landmark decision that signals its ambitious plans for growth in the Asian market, OSL Group Limited has announced that it is acquiring a majority stake in the Japanese cryptocurrency exchange CoinBest K.K. With this move, the company is set to secure an 81.38% ownership of the platform, as detailed in a press statement
A contentious debate has erupted in the cryptocurrency community, pitting industry heavyweights against each other regarding the fees associated with asset listings on major trading platforms. The conflict centers around remarks made by Coinbase CEO Brian Armstrong, who stated that the prominent US-based exchange offers free asset listings. However, Justin Sun, the founder of the
In a troubling development for the cryptocurrency landscape, M2, an exchange operating out of the United Arab Emirates, has reported a significant security breach that led to an astonishing loss of $13.7 million in digital currency. This incident, which unfolded on October 31st shortly after three in the morning, highlights vulnerabilities still present in the
In a remarkable move set to bolster the infrastructure of the Superchain ecosystem, Kraken and the Optimism Foundation have forged a significant partnership, sealing a $25 million deal. This collaboration aims to introduce Kraken’s new layer-2 blockchain, dubbed Ink, which is designed to enhance transactional efficiency and scalability within the decentralized finance (DeFi) space. As
In a significant shift towards technological advancement, Binance, the world’s leading cryptocurrency exchange by trading volume, has announced its collaboration with Amazon Web Services (AWS) to leverage advanced Generative AI tools aimed at enhancing the user experience on its platform. This strategic move, outlined in a statement shared on October 31, underscores Binance’s commitment to
A recent analysis conducted by Animoca Research has brought to light the disheartening performance of cryptocurrency tokens that were launched on five prominent exchanges between January and September. The findings revealed that these tokens experienced a dismal median performance, plummeting between 40% and 70%. The research encompassed a review of 773 token listings across exchanges,