In July, WazirX, one of India’s foremost cryptocurrency exchanges, faced a devastating $230 million hack that shook its foundation and raised serious questions about the platform’s security measures. Since then, the exchange has been engaged in an uphill struggle to recover lost assets and restore user confidence. Initially, WazirX sought a six-month moratorium to navigate
Exchanges
In today’s digital age, the increase in the popularity of cryptocurrencies has led to the rise of numerous exchange platforms. Each one seeks to carve out a niche in this expanding market. However, not all exchanges are created equal, and choosing the right one can mean the difference between success and costly mistakes. Factors such
In July, WazirX, one of India’s leading cryptocurrency exchanges, found itself at the center of a catastrophic financial breach, losing approximately $230 million. This hack has ignited significant scrutiny not only of WazirX’s security protocols but also of the broader implications for cryptocurrency exchanges worldwide. With over 45% of its reserves compromised, the hack has
In recent years, the cryptocurrency landscape has seen a remarkable transformation, particularly in the United Arab Emirates (UAE). Unlike many other nations where crypto activity is concentrated in specific brackets, the UAE has established itself as a diversified and thriving hub for crypto engagement across all transaction sizes. This unique characteristic sets the UAE apart,
As the financial ecosystem evolves, institutional interest in digital assets continues to rise. BNY Mellon, one of the leading banks in the United States, has recently made headlines for its ambitious entry into the crypto custody market, specifically targeting Bitcoin and Ethereum exchange-traded funds (ETFs). This strategic maneuver was made possible by the bank securing
On September 24, Kraken, a leading cryptocurrency exchange, revealed its acquisition of Coin Meester (BCM), a prominent crypto brokerage in the Netherlands. This purchase represents a significant strategic maneuver aimed at fortifying Kraken’s foothold in the European cryptocurrency market, especially within the Netherlands, where Coin Meester has established its reputation as one of the oldest
On September 20, 2023, BingX, a prominent cryptocurrency exchange, publicly acknowledged a breach involving “minor asset loss” linked to suspicious outflows from one of its hot wallets. The company’s Chief Product Officer, Vivien Lin, provided insights into the timing and nature of the incident, mentioning that it occurred at approximately 4:00 A.M. Singapore time. As
The legal confrontation between the U.S. Securities and Exchange Commission (SEC) and Coinbase has been a focal point of the cryptocurrency landscape since its initiation in June 2023. This lawsuit emerged mainly from the SEC’s allegations that Coinbase had operated as an unregistered securities broker. Central to the SEC’s claims is the assertion that various
The world of cryptocurrencies is characterized by rapid innovation and a burgeoning market. However, it is also marked by a complicated and, at times, perilous regulatory environment. Robinhood’s Chief Legal Officer, Daniel Gallagher, has recently vocalized the frustrations that many in the crypto sector share regarding the US Securities and Exchange Commission’s (SEC) regulatory stance.
The dynamic world of cryptocurrency has seen its fair share of controversies, with the recent turmoil surrounding Indian crypto exchange WazirX capturing significant attention. Binance, a dominant player in the global crypto market, distanced itself from WazirX’s troubles through a statement released on September 17. The statement addresses allegations from WazirX’s co-founder, Nischal Shetty, claiming
The world of cryptocurrency is no stranger to speculation and controversy, and recent events involving Coinbase and BlackRock have added fuel to the fire. Following accusations that Coinbase may not be backing its investment vehicle, the IBIT ETF, with actual Bitcoin, senior ETF analyst Eric Balchunas stepped into the fray to clarify and negate the
The case of Ryan Salame, a former executive at FTX, has recently taken a notorious turn, raising critical questions not only about his integrity but also about the broader implications for the justice system and its commitment to truthfulness. After previously pleading guilty to campaign finance violations and related money-transmitting offenses, Salame is now facing
Tokocrypto, a subsidiary of Binance, recently made headlines by securing a Physical Crypto Asset Trader (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti). This achievement solidifies Tokocrypto’s position as the third exchange in Indonesia to receive such a license, amidst stiff competition in the market. With 35 prospective crypto exchanges registered with Bappebti,
A Nigerian court has decided to postpone the decision on the bail application for Tigran Gambaryan, a detained Binance executive, until October 9. The ruling was issued by Judge Emeka Nwite on September 4 after hearing arguments from both Gambaryan’s lawyer, Mark Mordi, and the prosecuting counsel, Ekele Iheanacho, who opposed the bail request. Gambaryan’s