Gemini, the renowned cryptocurrency exchange founded by the Winklevoss twins, Tyler and Cameron, recently found itself at the center of a controversy. A New York Post report alleged that the twins had secretly withdrawn over $280 million from the bankrupt crypto lender, Genesis. However, Gemini swiftly responded, refuting the claims and presenting its side of
Exchanges
The world of cryptocurrency is no stranger to challenges, and Binance, one of the leading cryptocurrency exchanges, is facing yet another hurdle. Binance recently announced that its banking partner, Paysafe, has decided to cease processing Euro deposits, causing disruptions in various Binance services. This unexpected withdrawal of service has left Binance users in need of
Binance, one of the world’s largest cryptocurrency exchanges, has sold its entire Russia business to CommEX, a recently launched crypto platform. The financial details of the deal were not disclosed. In a statement released on September 27th, Binance revealed its decision to redirect new user registrations from Russia to CommEX and gradually sunset all its
As the world of cryptocurrency continues to evolve, so do the risks and challenges that investors face. In light of the recent hack that resulted in a $7.9 million loss of Ethereum (ETH), HTX global adviser Justin Sun has announced the establishment of a secure asset fund for users (SAFU). This fund aims to provide
Financial authorities in South Korea are planning to implement rigorous eligibility reviews for major shareholders of cryptocurrency exchanges, following the standards set in the banking sector. This move comes in response to the increasing legal issues surrounding shareholders of prominent domestic exchanges like Bithumb and Upbit. The Financial Intelligence Unit (FIU) under the Financial Services
South Korea’s leading cryptocurrency exchange, Upbit, recently made headlines when it announced the suspension of all withdrawals and deposits of Aptos’ native token APT. This drastic measure was taken in response to the discovery of fraudulent activities involving counterfeit APT tokens on September 24th. Upbit found itself in a precarious position when it realized that
In a recent legal filing, Fenwick & West, a law firm that previously provided services to FTX, sought to dismiss a class action suit brought against them. The suit, initiated by customers in August, claimed that Fenwick was partially responsible for the alleged fraudulent activities at FTX. In their defense, Fenwick presented several arguments to
The crypto exchange Bybit recently announced its decision to leave the U.K. market ahead of the implementation of new cryptocurrency marketing rules in October. This unexpected move signifies a proactive approach by Bybit to embrace forthcoming regulations set by the U.K. Financial Conduct Authority. While the exchange initially denied rumors of its departure, the temporary
The Australian Securities and Investments Commission (ASIC) has recently taken legal action against Bit Trade Pty Ltd, a provider for Kraken Crypto Exchange. ASIC alleges that Bit Trade’s margin trading product has caused losses of approximately $12.95 million to Australian customers due to non-compliance with local laws. According to ASIC, the central issue lies in
In a recent post on X (formerly Twitter), Binance CEO Changpeng ‘CZ’ Zhao addressed the reports circulating about him taking a $250 million loan from BAM Management. These reports were labeled as “wrong information” by CZ, setting the stage for a debate surrounding the controversial loan. This article aims to delve into the details and
Binance.US, once a leading cryptocurrency exchange in the United States, has experienced a significant decline in its weekly trade volume. From reaching an annual high of nearly $5 billion, the trade volume has plummeted to a mere $40 million, according to data from crypto firm Kaiko. This decline can be attributed to various factors, including
In a recent development, Hong Kong police officers have apprehended Joseph Lam Chok, a prominent crypto influencer, for his involvement in promoting the JPEX crypto platform. Lam Chok’s company, located at the Entertainment building in Central, was raided during the operation. This incident has shed light on the alleged rug-pulling activities of JPEX, leaving numerous
The world of cryptocurrency and celebrity endorsements has collided in a series of high-profile lawsuits and settlements. NFL quarterback Trevor Lawrence, along with YouTube influencers Kevin Paffrath and Tom Nash, has recently agreed to settle a lawsuit related to their endorsement of the now-defunct FTX cryptocurrency exchange. The terms of the settlement remain undisclosed, but
Binance.US, one of the leading cryptocurrency exchanges in the United States, is undergoing a significant leadership change amidst the rapidly evolving and increasingly hostile regulatory environment. The departure of CEO Brian Shroder has sparked rumors and speculation, prompting Binance CEO Changpeng ‘CZ’ Zhao to address the situation on social media. In this article, we will
In a volatile and unpredictable cryptosphere, where regulatory challenges and fluctuating volumes often shake the stability of cryptocurrency exchanges, Coinbase has managed to weather the storm better than most. Despite significant internal and regulatory issues that caused Binance’s volume to drop dramatically this year, Coinbase has emerged relatively unscathed, maintaining a stable monthly trading volume
Coinbase CEO Brian Armstrong recently voiced his opposition to the U.S. Commodity Futures Trading Commission’s (CFTC) pursuit of enforcement actions against decentralized finance (DeFi) protocols. In a post on X (formerly Twitter), Armstrong argued that these protocols should not be considered “financial service businesses” and suggested that they should take their cases to court instead.
Cryptocurrency exchange CoinEx recently fell victim to a massive hack resulting in the loss of over $27 million. According to a report by blockchain security firm SlowMist, the hack was carried out by the notorious North Korean Lazarus Group. This revelation was also supported by well-known on-chain investigator ZachXBT, who connected the group’s address to
Cryptocurrency exchange CoinEx recently experienced a security breach that resulted in unusual withdrawals from its hot wallets, where it stores exchange funds. According to official reports on September 12, the breach involved unauthorized transactions of Ethereum (ETH), TRON (TRX), and Polygon (MATIC) assets. The incident raised concerns about the security measures in place at CoinEx
Coinbase, one of the leading cryptocurrency exchanges, has raised the interest rate on USDC (USD Coin) from 4% to 5%. This marks a significant increase of 150% compared to the previous 2% rate in June. The boost in interest rates comes after the SEC clarified its stance on stablecoins, categorizing them as not being unregistered
Binance, one of the leading cryptocurrency exchanges, has recently announced its decision to terminate support for features related to non-fungible tokens (NFTs). The company stated that it will cease support for all Polygon-based NFTs on September 26, and users are required to withdraw their Polygon NFTs by December 31. This move comes as part of
Former FTX co-CEO Ryan Salame is expected to plead guilty to the criminal charges against him, according to Bloomberg. This comes as a major blow for FTX Digital Markets, which already faced collapse last year. Salame, who was jointly in charge with Sam Bankman-Fried, is scheduled to appear at the Manhattan federal court on Thursday
The Monetary Authority of Singapore (MAS) has imposed new regulations on Coinbase Singapore, requiring users to provide additional counterparty information for cryptocurrency deposits and withdrawals. These measures aim to comply with anti-money laundering and countering the financing of terrorism regulations. Coinbase Singapore users will now need to furnish specific information while initiating transactions involving digital
Regulated stock exchanges around the world are facing increasing pressure to offer cryptocurrency products due to growing demand from both retail and institutional investors. According to a report published by the World Federation of Exchanges (WFE), there is a significant interest in crypto-related assets like Bitcoin. However, despite the demand, regulated exchanges remain reluctant to
In a recent email to CryptoSlate, Binance confirmed that Mayur Kamat, the head of product at the exchange, has left his role. Kamat, who joined Binance in January 2022, brought with him a wealth of experience from his previous positions at Google and Agoda. His departure adds to the growing list of top-level executives who
In a surprising development, on-chain data has revealed that a cold wallet owned by the collapsed cryptocurrency exchange FTX has moved close to $10 million worth of altcoins from Solana to Ethereum since August 31st. The exact reasons behind these transfers remain undisclosed, leaving the crypto community puzzled. Notably, the altcoins transferred include popular tokens
GMX, a decentralized perpetual exchange, made its debut in the DeFi community in September 2021. Its launch on Arbitrum, an Ethereum Layer 2 scaling solution, marked a major milestone in the world of decentralized finance. GMX gained significant attention for being the first DEX and perpetual market on the Arbitrum ecosystem. One of its standout
In a recent development, FTX founder Samuel Bankman-Fried’s attorneys have raised concerns about their client’s limited access to evidence against him, highlighting a violation of his constitutional rights. The attorneys argue that the proposed solution of providing Bankman-Fried with an offline laptop and intermittent internet access within a courthouse cellblock falls short of addressing the