In a pivotal development for the digital currency landscape, Binance.US has reintroduced the ability for its users to make deposits and withdrawals in U.S. dollars. Announced on February 19, this change signifies a substantial shift from the platform’s previous model of operation that limited transactions to cryptocurrencies alone. Starting now, users can seamlessly deposit and
Exchanges
In a striking and unprecedented move, Nigeria’s Federal Inland Revenue Service (FIRS) has initiated legal proceedings against Binance Holdings Limited, alleging that the cryptocurrency exchange owes an astounding $81 billion in taxes and penalties. The legal claim, reported by Nairametrics, breaks down into specific requests, including a staggering $79.5 billion attributed to alleged economic damages
In the evolving landscape of cryptocurrency, innovative scams are emerging to exploit the vulnerabilities of users. A warning from Binance CEO Richard Teng has highlighted a particularly insidious scheme known as the “share-seed-phrase” scam. This tactic poses a growing threat to unwary investors in the digital asset arena as it leverages manipulation techniques that undermine
Changpeng Zhao, commonly known as CZ, the founder and erstwhile CEO of Binance, has recently dismissed rumors suggesting that the crypto exchange might be up for sale. This acknowledgment came in response to public speculation that arose after notable decreases in the exchange’s cryptocurrency reserves, which some interpreted as a signal of impending divestment. CZ
Recent analyses have highlighted a notable shift in the cryptocurrency trading arena, particularly regarding XRP, a digital asset connected to Ripple Labs. According to a report from Kaiko, XRP’s trading volumes on US exchanges have outpaced that of other prominent cryptocurrencies, marking a significant change in investor behavior. The resurgence of XRP can be tied
In a notable development for the crypto exchange industry, Ben Zhou, the CEO of Bybit, recently announced that the platform is no longer listed on the blacklist maintained by France’s financial regulator, the Autorité des Marchés Financiers (AMF). This significant shift comes after a prolonged period of over two years of dedicated efforts to meet
Coinbase has closed the year 2024 with remarkable financial performance, reporting a staggering $2.3 billion in revenue during the fourth quarter. This figure not only surpassed analysts’ expectations—which hovered around $1.87 billion—but also represented an impressive 88% increase from the third quarter of the same year. The achievement was primarily driven by a substantial 172%
In the fourth quarter of 2024, Robinhood Markets Inc. experienced an extraordinary revitalization in its cryptocurrency trading operations, reporting a staggering 400% increase in trading volume to a colossal $70 billion. This surge was buoyed by Bitcoin’s impressive rally, which saw prices soaring past $100,000, reigniting interest among retail investors. The dramatic inflow into digital
In an unprecedented display of market activity, CME Group has revealed that its crypto trading volumes surged to record highs in the fourth quarter of 2024. The exchange illustrated a remarkable transformation in the digital asset landscape, achieving an average daily trading volume nearing $10 billion across its crypto futures and options. This impressive figure
Crypto.com, a prominent player in the cryptocurrency exchange arena, has recently taken a significant step forward by launching its crypto asset services across all countries within the European Economic Area (EEA). This announcement, made on February 12, represents a crucial milestone in the company’s growth strategy as it aims to enhance its visibility and customer
The cryptocurrency landscape is continually evolving, presenting both opportunities and challenges for investors and traders alike. A recent report by CoinGecko shines a light on the state of centralized exchanges in 2024, revealing intriguing insights about trading volumes and market dynamics. With a total trading volume of $18.83 trillion across centralized exchanges, this year’s figures
The legal battle between the US Securities and Exchange Commission (SEC) and Binance has escalated, drawing attention due to its implications for the broader cryptocurrency industry. The SEC originally filed a lawsuit against Binance in 2023, claiming that the exchange violated US securities laws by offering various tokens, including Solana, Cardano, and Algorand, which the
Gemini, the cryptocurrency exchange co-founded by Cameron and Tyler Winklevoss, is reportedly considering an initial public offering (IPO) later this year. According to Bloomberg News, this move is under discussion with potential advisers, although no conclusive decision has arrived at this juncture. This exploration into going public is part of a broader trend among cryptocurrency
In recent developments surrounding WazirX, creditors find themselves at a critical crossroads, faced with the choice of either embarking on a compensation plan with potential recovery by April 2025 or risking a drawn-out liquidation process extending to 2030. The implications of their vote are profound, particularly in light of a recent ruling by the Singapore
The unfolding story of FTX, once a titan in the cryptocurrency exchange market, is both a cautionary tale and an ongoing saga of recovery. As the company embarks on the distribution of funds to small creditors, scheduled for February 18, significant implications arise not just for affected individuals but also for the broader cryptocurrency landscape.
In a significant development for the cryptocurrency sector, Kraken, a leading global crypto exchange, has successfully secured a Markets in Financial Instruments Directive (MiFID) license within the European Union. This pivotal move not only enhances the platform’s regulatory standing but also marks a strategic advancement into one of the world’s most promising derivatives markets. The
The cryptocurrency market is notorious for its high volatility, leading to substantial liquidations that can significantly impact both traders and the broader market ecosystem. Recently, Bybit CEO Ben Zhou raised eyebrows by disputing widely reported liquidation figures. He posited that the true extent of liquidations could be between $8 billion and $10 billion, a stark
In the ever-evolving world of cryptocurrency, security remains one of the most pressing concerns for users and exchanges alike. Recently, an investigative report by on-chain analyst ZachXBT highlighted a disturbing trend: Coinbase users are reportedly losing over $300 million annually due to social engineering scams. This staggering figure raises alarm bells about the security protocols
In a significant development for the cryptocurrency exchange sector, Kraken has showcased an impressive revenue growth, achieving $1.5 billion in earnings for 2024. This figure represents a striking 128% increase compared to the previous year, highlighting the growing appetite for cryptocurrency trading and investment. The surge in revenue is reflective of both heightened market activity
In a significant turn of events for the cryptocurrency sector, Kraken has announced the launch of a revamped on-chain staking product aimed at U.S. clients. This development comes after a prolonged regulatory scrutiny that resulted in the halting of its previous staking service, which was found to lack proper registration as per Securities and Exchange
In a striking move, Gemini, a prominent player in the cryptocurrency exchange market, has officially declared its boycott of hiring graduates and interns from the Massachusetts Institute of Technology (MIT). This decision stems from MIT’s recent decision to re-affiliate itself with Gary Gensler, former Chair of the U.S. Securities and Exchange Commission (SEC). This action
In 2024, the landscape of centralized cryptocurrency exchanges witnessed substantial shifts, predominantly characterized by the rise of Crypto.com and a notable decline in the market shares of established platforms like Binance and OKX. Emerging trends reveal a robust yet volatile market that is increasingly responsive to various economic factors and competitive dynamics. This article delves
In an era where regulatory frameworks are rapidly evolving to encompass the dynamic world of cryptocurrency, exchanges are compelled to adjust their operations significantly. Crypto.com’s recent announcement regarding the delisting of Tether’s USDT stablecoin, effective January 31, is a direct response to the European Union’s Markets in Crypto-Assets (MiCA) regulation. This framework introduces stringent rules
In a significant move, Coinbase has earned approval to establish its services in Argentina, a development that signals the growing influence of cryptocurrency in emerging markets. On January 28, the news broke that Coinbase had successfully registered as a Virtual Asset Service Provider (VASP) with Argentina’s National Securities Commission (CNV). This not only marks a
In a significant development for the cryptocurrency landscape, KuCoin has reached a settlement agreement with the U.S. Department of Justice (DOJ) following allegations of operating unlicensed money-transmitting services. This plea deal, made public on January 27, involves the exchange ceasing its operations in the U.S. market for a period of two years, along with a
As the cryptocurrency landscape evolves at an unprecedented pace, industry leaders are recognizing the need for innovative approaches to the token listing process. Brian Armstrong, the CEO of Coinbase, has recently emphasized this need in a series of insightful comments shared via social media. With the number of new cryptocurrencies surging due to the rise
In a recent announcement, Coinbase CEO Brian Armstrong addressed the significant user dissatisfaction stemming from delays in Solana transactions on the platform. As the cryptocurrency market experiences continual fluctuations, delays—especially during high trading volumes—can severely undermine user trust and satisfaction. Armstrong took to social media to inform users that the backlog of Solana transactions has