On January 16, Coinbase made headlines with its announcement of a partnership with the decentralized money market platform Morpho. This alliance aims to provide a new lending solution where users can secure USDC loans backed by Bitcoin. What sets this offering apart is its utilization of the layer-2 blockchain, Base, to process these transactions efficiently.
Exchanges
In a noteworthy development, the US government has mandated the return of 94,000 Bitcoin (BTC) linked to the notorious 2016 Bitfinex hack, marking a significant moment in the realm of cryptocurrency exchanges and legal restitution. The ruling posits that Bitfinex is the sole victim in this convoluted case, which has its roots entrenched in a
On January 15, the United States Department of Justice (DOJ) announced a significant financial sanction against BitMEX and its parent company, HDR Global Trading Limited, totaling $100 million. This fine stems from violations of the Bank Secrecy Act (BSA), a blow to a firm that has been under intense regulatory scrutiny for several years. The
HashKey Group, a prominent player in the digital asset sector based in Asia, is making significant strides in its expansion efforts within the Middle East and North Africa (MENA) region. In a formal announcement made on January 13, the organization revealed that it has received provisional approval for a Virtual Asset Service Provider (VASP) license
The emergence of decentralized platforms for prediction markets has been a double-edged sword, combining the thrills of gambling with the analytical aspects of forecasting real-world events. Among such platforms, Polymarket has become the focal point of a heated discussion, primarily due to its controversial betting markets surrounding natural disasters, particularly the wildfires ravaging California. The
The implosion of the FTX exchange has created a complex and convoluted legal landscape, particularly concerning its European subsidiary, FTX EU. Initially heralded as a promising player in the cryptocurrency space, FTX faced a catastrophic collapse that led to bankruptcy proceedings. As part of these proceedings, FTX attempted to offload its European operations to a
In 2024, Kazakhstan has significantly ramped up its efforts to combat illegal cryptocurrency exchanges, marking a decisive shift in its regulatory approach. The Financial Monitoring Agency (AFM) has taken action against platforms that have been linked to nefarious activities, particularly money laundering. This crackdown comes in response to escalating concerns that unregulated crypto exchanges serve
In a groundbreaking revelation, the chief legal officer of Coinbase, Paul Grewal, has unveiled documents that indicate the Federal Deposit Insurance Corporation (FDIC) has been advising banks to limit their involvement with cryptocurrency services, including fundamental Bitcoin transactions. These documents, publicly shared in December 2024, provide a detailed look into what Grewal characterizes as a
Crypto.com has taken a significant leap by introducing stock and exchange-traded fund (ETF) trading to its U.S. platform, thus diversifying its offerings beyond cryptocurrencies. This move, announced on January 3, underscores the company’s ambition to integrate traditional and digital finance, allowing users to manage their entire investment portfolio from a singular application. With a focus
On December 16, 2023, FTX, alongside its associated debtors, announced the initiation of a reorganization plan, which is set to go into effect on January 3, 2025. This pivotal plan aims to facilitate the distribution of recoveries to both retail and institutional creditors impacted by the company’s downfall. FTX has enlisted the financial services of