Efforts to revive FTX, once one of the largest crypto exchanges, are reaching a critical stage. Recent reports from the Wall Street Journal suggest that three potential buyers have emerged as the primary candidates for the acquisition. Former New York Stock Exchange president Tom Farley, crypto VC firm Proof Group, and fintech startup Figure Technologies
Exchanges
Cryptocurrency exchange Gemini recently made the decision to limit cryptocurrency transfers exclusively to Travel Rule Universal Solution Technology (TRUST)-registered Virtual Asset Service Providers (VASPs) in the U.K. This move comes as a result of the Travel Rule regulations, which require VASPs to share sender and receiver information for crypto transactions. Gemini partnered with TRUST to
The U.S. Supreme Court recently made an announcement that has put cryptocurrency exchange Coinbase under the spotlight yet again. The court will review a highly contentious case involving Coinbase and its users over a Dogecoin sweepstakes, according to Bloomberg News. At the crux of the matter is Coinbase’s attempt to shift the dispute out of
Coinbase, a leading cryptocurrency exchange, has recently released its Q3 2023 shareholder letter. The letter provides insights into the company’s financial performance, market trends, product developments, and regulatory outlook. While it showcases some positive aspects, there are also concerns and challenges that need to be critically examined. In Q3 2023, Coinbase reported a total revenue
Coinbase, one of the largest cryptocurrency exchanges in the United States, has announced that retail traders will now have the opportunity to trade crypto futures. Through its subsidiary, Coinbase Financial Markets, the exchange will enable advanced users to trade the monetary value of Bitcoin (BTC) and Ethereum (ETH) futures contracts. This new development provides Coinbase
Blockchain analytics firm Nansen has reported that bankrupt FTX has been making significant movements of digital assets over the past week, totaling approximately $156 million. One of the notable transactions involved FTX unstaking 1.6 million SOL tokens, worth around $57.6 million, on October 30. Although these assets are currently held in the staking wallet, it
In the ongoing criminal case involving Sam Bankman-Fried, the co-founder and former CEO of FTX, intriguing details about the origins of FTX and its sister firm, Alameda Research, have emerged. Bankman-Fried testified that both ventures started small but with ambitious goals, only to eventually face collapse. It was revealed that Alameda Research was launched in
Coinbase, one of the leading cryptocurrency exchanges, has accused the U.S. Securities and Exchange Commission (SEC) of overstepping its boundaries and attempting to redefine the criteria for what constitutes a security. In a recent court filing, Coinbase argued that the SEC’s classification of crypto assets as securities falls outside its jurisdiction and represents a radical
Binance, one of the leading cryptocurrency exchanges, has continued to see strong derivatives trading volume during U.S. trading hours amid ongoing legal action. Despite facing a complaint from the Commodity Futures Trading Commission (CFTC), Binance has managed to maintain its position in the market. Derivatives are financial instruments that derive their value from an underlying
The crypto community is in an uproar after accusing The Wall Street Journal (WSJ) of spreading misleading information regarding Hamas’ cryptocurrency funding. In an article published on October 10, WSJ reported that Hamas had acquired approximately $90 million in cryptocurrency to finance an imminent attack on Israel. This revelation caught the attention of prominent crypto
U.S. cryptocurrency exchange Coinbase has taken a significant leap forward in its global expansion strategy by selecting Ireland as the location for its European MiCA (Markets in Crypto-Assets) hub. This move enables Coinbase to tap into a vast market of 450 million individuals across 27 countries under a single regulatory framework and national supervision, bringing
Binance, the leading cryptocurrency exchange, has experienced a significant decrease in trading volume recently, with more than $1 billion in net outflows in the past 24 hours. This information comes from DeFillama CEX’s transparency dashboard, which reveals that Binance witnessed $1.4 billion in net outflows during this period. The majority of the withdrawn assets include
Cryptocurrency has long been the subject of debate and controversy, with concerns over its potential involvement in illicit activities such as terrorism financing. Recent events, such as the actions of Palestine’s Hamas group in Israel, have brought these concerns to the forefront once again. While some argue that cryptocurrency facilitates illegal transactions, others believe that
The Australian federal government is taking steps to regulate the crypto industry by introducing new regulations that require cryptocurrency exchanges to obtain a financial services license. The government aims to protect consumers and improve the overall security and transparency of the sector. These regulations will be unveiled by Assistant Treasurer Stephen Jones during the Australian
The Moscow Stock Exchange is making significant strides towards innovation in the financial industry. According to Sergei Kharinov, the director of digital assets at the exchange, they are preparing to introduce a new financial product called a digital financial asset (DFA) for real estate assets by 2024. This move aims to democratize real estate investments
Crypto investment firm, Paradigm, has made significant strides by filing an amicus brief to aid Binance in their move to dismiss the U.S. Securities and Exchange Commission (SEC) lawsuit. Their involvement stems from a deep-rooted concern to ensure that the SEC does not interpret securities laws in a way that jeopardizes the growth of cryptocurrency
Former engineer Aditya Baradwaj has shed light on the lax security practices within Alameda Research, which ultimately resulted in staggering losses of nearly $200 million. Baradwaj reveals that rather than prioritizing crucial risk management protocols, the founder of Alameda and FTX, Sam Bankman-Fried (SBF), focused on rapid company expansion. This decision overlooks standard engineering and
Cryptocurrencies have been a topic of much debate and scrutiny in recent years, with the U.S. Securities and Exchange Commission (SEC) at the forefront of regulating this emerging industry. In a recent court filing, the North American Securities Administrators Association (NASAA) expressed its support for the SEC’s legal actions against Coinbase, a leading cryptocurrency exchange.
The recent SBF trial took an unexpected turn as Alameda Research CEO, Caroline Ellison, took the stand and made shocking revelations about the company’s financial practices. In her testimony, Ellison confessed to committing fraud under SBF’s direction, admitting to diverting billions of dollars from FTX customer funds for failed investments and to pay off debts.
The vulnerability of cryptocurrency exchanges has once again been brought to the forefront as UPbit, a prominent South Korean exchange, revealed that it experienced a staggering 159,061 hacking attempts during the first half of this year. This data, shared by the exchange’s operator, Dunamu, with South Korean politician Rep. Park Seong-jung, highlights the escalating risks
The US Consumer Financial Protection Bureau (CFPB) is taking steps to address the growing concerns surrounding consumer protections in the cryptocurrency market. Recent significant hacks on platforms like Axie Infinity, Crypto.com, and FTX have showcased the vulnerabilities within this industry. As a result, the CFPB is evaluating the application of the Electronic Fund Transfer Act
The cryptocurrency industry has long been plagued by concerns surrounding user privacy, security, and ethical business practices. Recent allegations against Arkham Intelligence, a prominent crypto intelligence firm, have once again brought these concerns to the forefront. Whistleblower platform Crypto Leaks released a report that accuses Arkham of exploiting vulnerabilities at major exchanges to uncover users’
An investigative report recently published in Forbes has raised concerns about the accuracy of Binance’s initial coin offering (ICO) for Binance Coin (BNB) back in 2017. This report suggests that Binance may have significantly overstated the success of the ICO, casting doubt on the credibility of the cryptocurrency exchange. According to the Forbes report, Binance
JPEX, a cryptocurrency exchange based in Hong Kong, has recently faced criticism due to its decision to restrict user withdrawals. According to a report by The South China Morning Post, JPEX has converted user balances into a non-withdrawable cryptocurrency called JPC. This unexpected conversion has left users unable to access their crypto balances, causing frustration
India is taking significant steps towards establishing itself as a dominant player in global cryptocurrency regulation. The country is reportedly working on a comprehensive global database that will encompass all crypto exchanges, including those operating on the dark web. With the aim of detecting and combating cryptocurrency-related crimes, this initiative is set to launch by
Coinbase, one of the largest cryptocurrency exchanges in the world, has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license allows Coinbase to extend its payment services in Singapore and expand its digital token offerings to individuals and institutions in the country. Coinbase’s MPI license is a significant
In a shocking turn of events, Hong Kong was recently rocked by a massive crypto scandal involving JPEX, a Dubai-based cryptocurrency exchange. This scandal has not only exposed the regulatory loopholes and lack of investor protection in Hong Kong’s nascent crypto industry but also shed light on the risks associated with relying on social media