Ethena Labs, the innovative mind behind the synthetic dollar known as USDe, finds itself at a crucial juncture. The asset, once heralded as a frontrunner among stablecoins, is confronting escalating competitive pressures that have resulted in a significant decrease in its market capitalization—over $1 billion in just a few months. As of now, USDe’s market
Exchanges
Bithumb, South Korea’s prominent crypto exchange, is making waves by announcing its intention to pursue a potential public listing in the United States—a move that could significantly reshape its operational landscape and elevate its market position. Reports from local media around its shareholders meeting on September 30 reveal that Bithumb aims to target a Nasdaq
In a recent announcement, Kraken, one of the leading cryptocurrency exchanges, revealed its decision to terminate trading support for Monero (XMR) in the European Economic Area (EEA) by the end of October 2024. This move aligns with a growing wave of regulatory scrutiny focused on cryptocurrencies that prioritize privacy. Unlike many other cryptocurrencies, Monero has
Gemini, the well-known cryptocurrency exchange, has officially declared its intention to exit the Canadian market by the end of 2024. This announcement, made via an email to its Canadian customers on September 30, indicates that all existing accounts will be closed by December 31, 2024, with a timeframe of 90 days provided for users to
The cryptocurrency market has recently been shaken to its core by high-profile legal cases, most notably the downfall of FTX, once a leading cryptocurrency exchange. Central to this saga is the sentencing of Caroline Ellison, former CEO of Alameda Research, who was heavily implicated in the financial misdoings that led to FTX’s spectacular collapse. As
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
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.
