Recently, Kenyan authorities have been preparing to extradite Nadeem Anjarwalla, a Binance executive wanted by the Nigerian government. A coordinated effort involving various agencies, including the Economics and Financial Crimes Commission (EFCC), Nigeria Police Force, Kenya Police Service, Federal Bureau of Investigation (FBI), and International Criminal Police Organization (INTERPOL), resulted in his capture in Kenya.
Exchanges
Recently, crypto exchange HashKey made a significant announcement regarding its support for Binance-related transactions. The Hong Kong-based platform shared that it would implement restrictions on deposits from Binance starting from May 10. Additionally, HashKey will no longer support virtual asset withdrawals to Binance-hosted wallet addresses after May 17. This decision comes as a surprise to
The recent developments surrounding the bankrupt FTX exchange have caused quite a stir in the cryptocurrency community. On April 18, the FTX exchange transferred a substantial amount of assets from its FTT treasury account to a new wallet address. The transferred assets included 195.87 million FTT tokens valued at approximately $247 million, 1,938 ETH valued
In a recent move, Binance has transitioned its Secure Asset Fund for Users (SAFU) into Circle’s USD Coin (USDC) stablecoin, signaling a shift towards enhanced reliability and transparency. By transferring 100% of SAFU’s assets to USDC, Binance aims to ensure stability at $1 billion, utilizing a trusted and audited stablecoin for added security. Apart from
A recent analysis conducted by crypto exchange Bybit has brought to light a concerning prediction regarding the potential shortage of Bitcoin (BTC) on exchanges by the end of 2024 if the current levels of demand persist. The report suggests that reserves could be completely exhausted within the next nine months if the withdrawal rates continue
US Senators Elizabeth Warren and Charles Grassley have taken a critical stance on the recent regulatory failures surrounding the interactions between CFTC Chair Rostin Behnam and disgraced crypto mogul Sam Bankman-Fried (SBF). The formal request made by the senators aims to shed light on potential loopholes in the regulatory framework that allowed for the massive
Coinbase, a leading cryptocurrency exchange, has recently been commended by the Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury for its noteworthy contributions to major criminal investigations. In a letter addressed to Coinbase CEO Brian Armstrong, FinCEN highlighted the exchange’s role in assisting law enforcement efforts through its compliance and reporting
The recent legal battle surrounding Binance executive Tigran Gambaryan has taken a new turn as the Nigerian High Court in Abuja ordered his remand in prison. Despite pleading not guilty to money laundering charges, Gambaryan will remain in custody until his bail hearing on April 18. The trial is set to commence on May 2,
FTX creditors are not pleased with the recent sale of the bankrupt crypto exchange’s Solana holdings to venture firms at a significant discount. The decision to offload 30 million SOL at $64 each, a 62% markdown from the current market price, has raised concerns among those affected by the exchange’s collapse. Sunil Kavuri, a victim
The recent court hearing on April 4 in Nigeria regarding the criminal charges against crypto exchange Binance highlighted a concerning lack of legal representation. Despite facing serious allegations, Binance did not have any legal counsel present at the hearing. Instead, the company’s compliance chief, Tigran Gambaryan, attended the hearing on behalf of the organization. This
Recently, KuCoin has been facing legal challenges from US authorities, resulting in a significant drop in user assets on the platform. The latest proof-of-reserve certificate from the exchange revealed that users’ Bitcoin holdings decreased by 25.4% to 12,114 BTC in March. Additionally, Ethereum balances plummeted by approximately 22% to around 112,000 ETH, and the amount
In a recent interview with Fortune, Coinbase CFO Alesia Haas expressed her belief that Ethereum (ETH) should not be classified as a security. This stance is supported by both the SEC and the CFTC, who have previously stated the same opinion. Haas attributed the uncertainty surrounding the classification of Ethereum to the lack of clear
CFTC Commissioner Caroline Pham’s recent comments regarding her agency’s charges against KuCoin have shed light on a potential conflict between the CFTC and the SEC. Pham expressed concerns that the CFTC’s aggressive enforcement action may infringe on the SEC’s jurisdiction. Specifically, she pointed out that the complaint fails to differentiate between investments in funds, which
Recently, the US and UK governments have initiated a joint investigation into crypto transactions exceeding $20 billion that may have breached Russian sanctions. These transactions are suspected of being funneled through the Russia-based crypto exchange Garantex, with the intention of circumventing international sanctions and potentially financing military operations in Ukraine. In the past few months,
Following the criminal charges levied against KuCoin by US authorities, the embattled crypto exchange experienced a surge in withdrawal requests. Data from various on-chain analytics firms indicated a notable increase in withdrawals across different categories of traders, including whales, funds, smart money, and market makers. During the reporting period, KuCoin witnessed significant withdrawals of Ethereum-based
KuCoin CEO Johnny Lyu recently addressed the US criminal charges against the exchange, emphasizing that the platform’s operational stability will not be impacted. He took to social media to assure users that their funds are safe and that timely updates will be provided regarding the situation. Despite the allegations, Lyu maintained that users’ assets are
In a recent statement, Binance revealed its decision to terminate support for Tron network-based USD Coin (USDC) stablecoins by April 5. This move comes after Circle’s withdrawal from the Tron blockchain, prompting Binance users to withdraw their assets or convert them to USDC on other networks within a two-week window. With less than two weeks
The recent escape of Nadeem Anjarwalla, a Binance executive detained by Nigerian authorities, has sent shockwaves through the cryptocurrency community. After managing to flee from custody, Anjarwalla’s whereabouts are currently unknown. This incident has highlighted the cracks in the Nigerian security system and raised questions about the ease with which high-profile individuals can evade the
The recent implementation of anti-money laundering regulations in the European Union has sparked a contentious debate regarding the balance between combating financial crime and preserving citizens’ rights to privacy and economic freedom. The regulations have drawn both criticism and support from various stakeholders, leading to a heated discussion on social media platforms. Patrick Breyer, a
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
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