The Solana community and the broader crypto ecosystem have recently been confronted with a disturbing trend – a surge in inflammatory memecoins that promote racism, anti-Semitism, and other offensive content. These tokens, created using Solana’s token creation feature, have sparked outrage and concern among users and industry players alike. Solana founder and CEO Anatoly Yakovenko
Exchanges
BlackRock, a leading asset management firm, has recently chosen Coinbase as the main infrastructure provider for its tokenized investment fund known as the BlackRock USD Institutional Digital Liquidity Fund (BUIDL). This fund aims to maintain a stable value of $1 per token and distribute daily accrued dividends directly to investors’ wallets in the form of
BitMEX recently found themselves investigating an abnormal occurrence on their Bitcoin spot market. Reports surfaced about a user making significant sell orders on the exchange, causing chaos in the market. More than 400 BTC was dumped on BitMEX, leading to an 87% crash in the price of Bitcoin to as low as $8900 before bouncing
In a recent development, crypto exchange OKX has made the decision to delist Tether (USDT) pairs in the EU. Instead, the exchange will only support USDC and Euro-based stablecoin pairs moving forward. This move comes shortly after the EU released draft technical standards related to stablecoins, which are scheduled to be enforced starting from June.
In recent months, Binance made a significant move by spinning off its $10 billion venture capital arm, Binance Labs, into an independent entity. This decision marks a pivotal moment in the company’s evolution and raises questions about its future direction and strategic priorities. The decision to separate Binance Labs from the Binance Group is a
Federal prosecutors have presented a compelling case against FTX founder Sam Bankman-Fried (SBF), painting a picture of a man driven by unparalleled greed and ambition. The misappropriation of over $8 billion of customer funds did not only undermine the integrity of the financial and political systems but also left victims across the globe grappling with
Recently, the Securities and Futures Commission (SFC) in Hong Kong issued a public warning regarding the unauthorized operations of the MEXC exchange within its jurisdiction. The entity claims to be a virtual asset trading platform but is not licensed by the SFC to operate in Hong Kong. As a result, MEXC has been added to
Recently, Binance announced that Nigeria is not one of its top markets, despite being Africa’s most populous country and largest economy. This declaration came amid a dispute between Binance and Nigerian authorities over the exchange’s operations in the region. Nigeria has a young population that has embraced crypto, leading to record-high adoption rates. Chainalysis even
Crypto.com, the prominent cryptocurrency trading platform, recently faced a significant financial penalty from the Netherlands Central Bank amounting to €2.85 million. The fine was imposed due to the platform operating within the European country without proper registration for a period of two years. This lack of registration goes against Dutch regulations that require crypto firms
Coinbase recently made headlines by announcing its plan to launch a $1 billion bond offering aimed at raising funds for its growth and expansion. The offering, comprised of unsecured convertible senior notes maturing in 2030, provides investors with the opportunity to convert their holdings into Coinbase shares or cash at the time of maturity. This
The Nigerian government recently obtained a court warrant to detain Binance officials for at least twelve days after they insisted they should be taken to their respective countries’ embassies, according to local media outlet Premium Times. The government accused Binance of exacerbating the country’s foreign exchange challenges by manipulating rates for profit, leading to restrictions
In a bold move, Coinbase has openly criticized the Securities and Exchange Commission (SEC) for turning down its rulemaking petition, deeming the decision as “arbitrary and capricious.” This critique was officially lodged in a petition filed on March 11 with the US Court of Appeals for the Third Circuit. Should Coinbase’s efforts to challenge the
In recent months, Coinbase, the prominent US-based cryptocurrency exchange, has experienced a significant increase in its market share. This surge can be attributed to the introduction of several spot Bitcoin exchange-traded funds (ETFs) in January. As a result, analysts at Goldman Sachs have upgraded their rating on Coinbase shares, shifting from selling to neutral. Additionally,
Bitcoin experienced a brief moment in the spotlight on March 5th when it surged to its all-time high of $69,000. However, this moment was short-lived as the cryptocurrency quickly faced a 14% correction, pulling its price down to $59,300. Despite this correction, Bitcoin managed to regain some ground in the early hours of March 6th,
Cryptocurrency exchange Binance made the bold move to discontinue all services associated with the Nigerian local fiat currency, Naira (NGN), in a phased approach. This decision, made public on Mar. 5, came as a surprise to many as Binance announced that Nigerian users would no longer have access to various services related to NGN. The
Recently, popular crypto exchange Coinbase encountered a technical issue that led to some users experiencing a zero balance in their accounts. This incident occurred on March 4, causing concern and frustration among affected users. The company acknowledged the problem and reassured customers that their assets were safe. However, this is not the first time such
Binance, a popular cryptocurrency exchange, is facing scrutiny in Nigeria following its recent settlement with the U.S. Department of Justice. The House of Representatives Committee on Financial Crimes in Nigeria issued an ultimatum to Binance CEO Richard Teng, demanding his appearance before the committee by March 4. The committee’s chairman, Ginger Onwusibe, has accused Binance
The Nigerian government’s recent move to consider imposing fines of up to $10 billion on Binance has raised eyebrows in the crypto community. The government accuses the exchange of profiting from illegal transactions in the African country, leading to significant losses for the nation. According to reports, Binance operated in Nigeria without proper registrations, which
The Chamber of Digital Commerce recently filed an amicus curiae in defense of crypto exchange Kraken in response to a lawsuit brought forth by the US SEC. The purpose of the amicus brief is to challenge the SEC’s attempts to regulate the digital asset industry through enforcement actions rather than legislative authority. The Chamber emphasized
HTX, previously known as Huobi, has resubmitted its application for a Virtual Asset Trading Platform (VATP) license in Hong Kong. The Securities and Futures Commission (SFC) website confirmed this move, which comes after HTX withdrew its initial application without explanation. The reinitiation of the application process on Feb. 26 indicates a renewed effort by the
The Hong Kong-based cryptocurrency exchange BitForex has plunged into darkness, leaving its users in a state of panic. The suspension of its website and trading application on February 23 has rendered users unable to access their funds or the exchange itself. What is even more alarming is the fact that the exchange, which boasted a
In response to the US Securities and Exchange Commission (SEC) charges, Kraken asserted that the legal action taken against them was a result of their advocacy for the agency to operate within regulatory boundaries. During a testimony before the House Financial Services Committee and the House Agriculture Committee in May 2023, Kraken emphasized the inadequacy
The current state of Bitcoin’s liquidity market is a topic of great interest among enthusiasts, especially as the cryptocurrency hovers around the $52,000 mark. When delving deeper into Bitcoin’s liquidity, one can observe a complex interplay between buy and sell orders within a critical 2% market depth. This subtle dance reveals the delicate balance that
In recent years, there has been a significant decline in the volume of Bitcoin stored in exchange wallets, signaling a notable shift in investor behavior. This change is particularly evident since mid-March 2020, when over 17% of Bitcoin’s total supply was housed on exchanges, marking a record high. Despite Bitcoin’s 2021 bull run, which saw
Cryptocurrency exchange Backpack, founded by former FTX executives, has recently announced its expansion to 11 US states amidst increasing global regulations. The company’s CEO, Armani Ferrante, expressed determination to establish Backpack’s presence in the US gradually and diligently. In the announcement made on social media, Backpack revealed its availability to residents in states such as
Coinbase’s non-US exchange achieved a significant milestone on Feb. 20, surpassing $1 billion in daily trading volume. The exchange, known as Coinbase International Exchange, announced that their perpetual futures trading had reached this remarkable mark within a 24-hour period. This achievement was lauded by Coinbase CEO Brian Armstrong, who highlighted that it was the first
Recently, Binance, one of the leading cryptocurrency exchanges in the world, made an announcement that sent shockwaves through the crypto community. The exchange revealed that it would be discontinuing its trading and subscription services for leveraged token offerings, including popular tokens like Bitcoin, Ethereum, and its own BNB Coin. This decision, set to take effect