In a groundbreaking move for the blockchain space, the Optimism Foundation has partnered with Kraken, finalizing a deal worth $25 million in OP tokens to integrate Kraken’s newly developed layer-2 blockchain, Ink, into the Superchain ecosystem. This collaboration, valued at approximately $43 million based on the current price of OP at $1.72, marks a significant
Exchanges
In an indicative evolution of the cryptocurrency landscape, Binance, the world’s largest crypto exchange by trading volume, is making strategic utilizations of Amazon Web Services (AWS) to bolster its platform’s user experience. Announced on October 31, this partnership aims to incorporate advanced generative AI tools and cloud services in a bid to enhance user interaction
In recent months, the cryptocurrency landscape has faced considerable volatility, prompting an analysis from Animoca Research that highlights the performance of various tokens listed on five prominent exchanges: Binance, Bitget, Bybit, KuCoin, and OKX. From January to September, the report unveiled a concerning trend: tokens on these exchanges exhibited a median performance decline between 40%
In the aftermath of a financial collapse as significant as FTX’s, the process of asset recovery becomes paramount not just for creditors but also for setting a precedent in corporate governance and accountability. FTX, once a leading cryptocurrency exchange, filed for Chapter 11 bankruptcy in November 2022, leaving behind a trail of creditors who hoped
The collapse of FTX, once hailed as a beacon of innovation within the cryptocurrency exchange realm, has become synonymous with one of the largest financial debacles in modern history. At the heart of this scandal is Nishad Singh, the former engineering director of the now-defunct exchange. On October 30, 2023, Singh was sentenced to time
On October 30, 2023, Kraken, one of the leading cryptocurrency exchanges, announced a significant round of layoffs that affected approximately 15% of its workforce. This move, described as necessary “organizational changes,” is aimed at streamlining operations and refocusing the organization’s mission in a rapidly evolving market. The announcement accompanied the appointment of Arjun Sethi, co-founder
In a significant move aimed at enhancing the cryptocurrency trading experience, Visa recently announced a partnership with Coinbase to enable instant deposit services. According to a statement issued on October 29, this collaboration will allow users with eligible Visa debit cards to fund their Coinbase accounts instantaneously. Cuy Sheffield, Visa’s Head of Crypto, expressed his
The cryptocurrency exchange FTX recently secured a noteworthy $228 million settlement with Bybit, a rival crypto exchange, marking a pivotal moment in the ongoing saga of FTX’s bankruptcy proceedings. This settlement emerges from a lawsuit filed in November 2023, which sought to recover around $1 billion in assets that had allegedly been withdrawn improperly. Given
In a groundbreaking announcement on October 24, Kraken, one of the prominent players in the cryptocurrency exchange arena, revealed its intention to launch Ink, a new layer-2 network on Ethereum, utilizing the Optimism Superchain infrastructure. This initiative marks a significant transformation from Kraken’s current centralized exchange model, aiming to empower users with the ability to
The Indian cryptocurrency exchange WazirX has recently taken a significant step towards enhancing transparency by releasing its proof-of-reserves (PoR) report. In a statement issued on October 25, the exchange revealed that a staggering 40% of its customer assets are held on third-party exchanges. This move is designed to allow users and stakeholders to independently verify