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
Exchanges
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
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
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
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
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 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
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 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
Coinbase’s Chief Legal Officer, Paul Grewal, raised issues with the US Commodities Futures Trading Commission’s (CFTC) proposed regulations on prediction markets. He criticized the broad and vague definition of “gaming” in the proposal and argued that the Commission was overstepping its authority by not evaluating contracts individually. According to Coinbase, the CFTC failed to recognize
The cryptocurrency exchange BTSE recently announced the launch of BTSE Dex 2.0, a new decentralized exchange that is set to shake up the crypto market. This upgrade introduces cross-compatibility for Ethereum Virtual Machine-based chains, opening up trading opportunities for over 50 perpetual futures on networks such as Base, Optimism, and Arbitrum. One of the key
After experiencing a $230 million cyberattack that disrupted platform operations on July 18, WazirX has taken the decision to restore user balances and reverse trades conducted between July 18 and July 21. This move comes in response to the need for equitable treatment for all users affected by the incident. The restoration process will take
The US Securities and Exchange Commission (SEC) has firmly opposed Coinbase’s motion to compel additional discovery in their ongoing legal battle. The dispute centers around Coinbase’s sweeping demands for documents that the SEC argues are irrelevant and overly burdensome. The SEC contends that the exchange’s discovery requests seek vast amounts of information, much of which
The recent market turmoil on August 5th had a significant impact on Binance, one of the largest cryptocurrency exchanges in the world. Binance CEO, Richard Teng, revealed that the exchange saw record inflows and one of its highest trading volumes this year as investors panicked in the jittery market. Teng reported that Binance recorded a