A new player has emerged in the cryptocurrency space, and its name is Solana. Over the weekend, Solana’s trading volume skyrocketed, surpassing that of Bitcoin and Ethereum on major centralized exchanges. This remarkable milestone has caught the attention of industry experts and traders alike, signaling a shifting landscape within the crypto market. An Unprecedented Achievement
Exchanges
In the world of cryptocurrency trading, exchange balance data plays a crucial role in understanding investor behavior. It provides insights into whether investors prefer to store their Bitcoin holdings off-exchange or keep them on exchanges for potential sale or trade. This metric holds the potential to signal market sentiment, with off-exchange storage often indicating a
Coinbase, one of the leading cryptocurrency exchanges, has recently registered to offer its services in France. The company announced on December 21 that it has received approval from France’s Autorité des marchés financiers (AMF) to operate as a virtual asset service provider (VASP). This registration, also known as Prestataire de Services sur Actifs Numériques (PSAN),
Former FTX CEO, Sam Bankman-Fried, has been denied his request for an adjourned sentencing hearing, according to a recent court filing. Bankman-Fried’s legal team had requested a delay of four to six additional weeks, pushing the sentencing date into May 2024. Currently, Bankman-Fried’s sentencing is scheduled for March 28, 2024. The defense argued that they
In the ever-evolving world of cryptocurrency, trust and transparency are of utmost importance. To address these concerns, exchanges have started adopting proof-of-reserves (PoR) practices. Bybit, a Dubai-based crypto exchange, recently made headlines by expanding its PoR attestation to cover 32 cryptocurrencies. This move aims to provide customers with assurance that their assets are fully backed
FTX Trading Ltd. has announced a groundbreaking settlement with its Bahamas-based subsidiary, FTX Digital Markets, to tackle the challenges stemming from the collapse of the FTX group in November 2022. This marks a significant step forward in addressing the fallout from the collapse and aims to provide compensation to affected users. Under the settlement terms,
In a momentous turning point for the blockchain industry, Solana’s decentralized exchanges (DEX) briefly overtook Ethereum’s trading volume on December 16. According to data from DeFillama, Solana’s DEX trading volume reached $1.536 billion, surpassing Ethereum’s $1.164 billion during this period. The community celebrated this milestone, with Anatoly Yakovenko, Solana’s co-founder, expressing his excitement by stating,
FTX Debtors recently filed an amended Chapter 11 reorganization plan on December 16th, which has raised concerns about potential financial losses for the defunct crypto exchange’s creditors. The plan proposes valuing the creditors’ claims at the crypto prices on November 11th, 2022, the day FTX filed for bankruptcy. This decision seems questionable, especially considering the
FTX Debtors recently submitted an amended Chapter 11 reorganization plan, putting the spotlight on the potential losses that the defunct cryptocurrency exchange’s creditors may face. The plan suggests valuing the claims of these creditors based on the cryptocurrency prices recorded on November 11, 2022, the day FTX filed for bankruptcy protection. Unfortunately, this particular date
Coinbase, one of the leading cryptocurrency exchanges, made headlines recently with its decision to include Bonk (BONK), a Solana network token, in its list of tradable assets. This move comes at a time when Coinbase is actively involved in institutional activities, such as the highly anticipated Bitcoin ETF custody with BlackRock. The inclusion of Bonk
A recent update from defunct crypto lender Genesis has revealed that users of the Gemini Earn platform might only be able to recover 61% of the value of their crypto holdings as of January 19, 2023. This news has sparked widespread outrage among Gemini Earn users, who are criticizing various aspects of the proposed plan.
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) recently reached a settlement with cryptocurrency exchange CoinList on December 13th. The settlement arose from CoinList’s processing of 989 transactions amounting to $1.25 million made by individuals residing in Crimea over a two-year period ending in May 2022. The agency deemed this a violation of its
Coinbase International, a leading cryptocurrency exchange, announced its plans to enable spot trading for Bitcoin (BTC) and Ethereum (ETH) on its platform starting from December 14th. This move comes as part of Coinbase’s global expansion strategy to cater specifically to non-US institutional clients. In this article, we will explore the details of this announcement and
The crypto market is notorious for its volatile nature, constantly undergoing significant changes in response to price fluctuations. However, an interesting trend has emerged, highlighting a reduction in volatility due to a shift in investor behavior, particularly within the futures market. By analyzing Bitcoin’s price changes and significant liquidation events from 2021 to 2023, we
Google is preparing for a significant update to its policy on cryptocurrencies and related products, set to take effect in January 2024. This update will bring explicit clarification on the regulations surrounding the advertisement of Cryptocurrency Coin Trusts. Starting from January 29th, 2024, advertisers in the United States will be able to promote Cryptocurrency Coin
In a recent court filing, the U.S. Securities and Exchange Commission (SEC) has requested the court to consider newly unsealed documents regarding Binance and its former CEO Changpeng Zhao’s (CZ) plea deals with other agencies. The SEC argues that these settlement agreements provide sufficient evidence for the case to be brought forward and challenge Binance
The latest proof of reserves report published by Binance has revealed a significant decline in its Bitcoin balance during November, coinciding with the regulatory issues faced by the exchange. This decrease in Bitcoin holdings not only impacted Binance’s overall balance but also had repercussions on other major cryptocurrencies as well. Withdrawal of Assets During Regulatory
The UK Financial Conduct Authority (FCA) has recently announced that it has added Poloniex, a crypto exchange linked to Justin Sun, to its warning list of companies offering financial services without the necessary permissions. The FCA’s update on December 6th stated that Poloniex may be promoting financial services or products without authorization and advised individuals
The location of Binance’s global headquarters has long been a matter of speculation and controversy. The newly appointed CEO, Richard Teng, recently declined to disclose the company’s global headquarters to the Financial Times, further fueling the debate surrounding the issue. This article aims to delve deeper into the controversy surrounding Binance’s headquarters, its ties to
In a recent announcement, Binance, one of the leading cryptocurrency exchanges globally, revealed its plans to expand free trading options for the spot and margin trading pairs of the First Digital USD (FDUSD) stablecoin. This move comes as part of Binance’s ongoing efforts to promote the use of FDUSD. The trading pairs that will benefit
Today marked a significant milestone for Robinhood, as it launched its brokerage services in the UK, marking its first expansion beyond the United States. This move hopes to replicate the success Robinhood experienced in the US, where it revolutionized the brokerage industry with its zero-commission, no-minimum-balance model. However, as the company faces challenges and declining
The Philippines Securities and Exchange Commission (SEC) recently issued a cautionary advisory, shedding light on Binance’s operations within the country. The advisory outlined several regulatory concerns and stated that Binance is not registered as a corporation in the Philippines and operates without the necessary licenses and authority. While acknowledging Binance’s registration in other countries, the
Coinbase, one of the largest cryptocurrency exchanges in the United States, recently revealed that it has been subpoenaed by the U.S. Commodity Futures Trading Commission (CFTC). The nature of the investigation remains unknown, but Coinbase stated that it has been asked to provide information about its users’ accounts and transaction activity. This development has sent
The digital asset investment market has experienced a remarkable surge in capital over the past week, with a staggering $346 million pouring into various investment products. This influx represents the largest weekly inflow in a consecutive nine-week period, reminiscent of the bullish environment witnessed in late 2021. CoinShares’ recent data highlights the significance of this
The recent hacker attacks on HTX and Poloniex have caused significant turmoil and loss for users of these crypto exchanges. However, in a surprising turn of events, Justin Sun, a top representative for both exchanges, has announced plans to reward users and cover their losses. This article critically examines the details of the airdrop and
Former Binance CEO Changpeng Zhao recently faced a temporary restriction on his social media profile, raising questions about the platform’s policies and algorithms. This incident occurred shortly after Zhao stepped down from his executive position at Binance, adding to the speculation surrounding the situation. Let’s delve into the details and implications of this temporary restriction.
The U.S. Department of Justice (US DOJ) has taken action to prevent former Binance CEO and founder Changpeng ‘CZ’ Zhao from leaving the continental United States before his sentencing. This decision comes after Binance and CZ pleaded guilty to charges of Bank Secrecy Act violations and agreed to settle the lawsuit by paying $4.3 billion.