In the wake of the FTX bankruptcy, a troubling reality has emerged for creditors worldwide. Sunil Kavuri, a representative for the FTX Creditors’ group, recently addressed the situation, indicating that there is a significant effort underway to explore repayment options for creditors belonging to various nations, including Russia, China, Egypt, Nigeria, and Ukraine. However, many
Exchanges
In a dramatic turn of events, ByBit, a prominent player in the cryptocurrency exchange sector, has fallen victim to a significant hack, resulting in the loss of approximately $1.5 billion worth of assets, particularly Ethereum (ETH). This incident ranks among the most substantial breaches in digital finance history. On February 21, ByBit took to social
In 2024, the cryptocurrency exchange Kraken has reported a notable surge in requests for user data from law enforcement and regulatory bodies. According to the latest transparency report, these requests have increased by 38.6%, reaching a total of 6,826 inquiries. This significant uptick underscores the growing scrutiny that cryptocurrency platforms face from authorities worldwide, particularly
In recent years, the crypto landscape has witnessed a surge in the popularity of memecoins, a category that often lures investors with its viral appeal and speculative nature. Memecoins, despite their whimsical branding, can be subjected to serious legal and ethical concerns, particularly surrounding the risk of insider trading. Brian Armstrong, the CEO of Coinbase,
Nigeria’s Federal Inland Revenue Service (FIRS) has embarked on a contentious legal affair with crypto exchange giant Binance Holdings Limited, demanding an astronomical sum exceeding $81 billion in perceived unpaid taxes and penalties. This claim, revealed by the local report from Nairametrics on November 19, comprises $79.5 billion attributed to alleged economic damages, augmented by
In a highly anticipated development, Binance.US has reinstated USD deposits and withdrawals, signaling a pivotal change for the cryptocurrency trading platform. Following months of limitations confining users to a crypto-only framework, the announcement made on February 19 marks a substantial turnaround. Customers can now engage in fee-free bank transfers (ACH) for USD transactions—an essential reintroduction
The digital currency landscape, while promising and innovative, is also fraught with scams and fraudulent activities. Richard Teng, the CEO of Binance, has recently issued a crucial warning regarding a particularly insidious scam known as the “share-seed-phrase” scheme. As crypto adoption increases, so does the sophistication of cybercriminals who exploit unsuspecting users through deceptive tactics.
Recent trends in cryptocurrency markets reveal a marked increase in the relevance of XRP, especially among U.S.-based exchanges. A comprehensive report by Kaiko indicates that since November, XRP’s trading volumes have outpaced those of other cryptocurrencies. This notable growth aligns with broader market developments and the recent earnings figures released by Coinbase, showcasing XRP’s newfound
The landscape of cryptocurrency exchanges is as volatile as the digital currencies they handle. Recently, Changpeng Zhao, the founder and former CEO of Binance, had to clarify rumors surrounding the exchange’s ownership status. Following speculation that Binance was on the verge of being sold or seeking a significant buyer, Zhao took to social media on
In a significant development for the cryptocurrency exchange Bybit, CEO Ben Zhou announced that the platform has successfully navigated its way off the blacklist imposed by France’s financial watchdog, the Autorité des Marchés Financiers (AMF). This affirmation of compliance marks the culmination of a rigorous two-year effort to address various regulatory concerns that had previously