In a startling revelation that underscores the vulnerabilities of cryptocurrency platforms, BingX, a prominent crypto exchange, confirmed a significant security breach resulting in a “minor asset loss.” This acknowledgment came on September 20, following suspicious outflows from one of its hot wallets. Vivien Lin, the Chief Product Officer at BingX, stated that the full extent
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The ongoing lawsuit between the U.S. Securities and Exchange Commission (SEC) and cryptocurrency exchange Coinbase has garnered significant attention since its inception in June 2023. The SEC’s allegations assert that Coinbase operated as an unregistered securities broker by offering various digital assets that the regulator classifies as unregistered securities. The implications of this case extend
In a sweeping critique of the US Securities and Exchange Commission’s (SEC) current regulatory tactics, Robinhood’s Chief Legal Officer, Daniel Gallagher, has surfaced significant concerns regarding the impact of these strategies on the burgeoning cryptocurrency market. His statements, delivered as written testimony for a hearing by the House Financial Services Subcommittee on Digital Assets, underline
In the tumultuous landscape of cryptocurrency exchanges, the recent interactions between Binance and WazirX reveal a complicated narrative of accountability, miscommunication, and regulatory challenges. Binance’s public disavowal of WazirX has gained much attention, particularly in light of a significant breach that led to the loss of $235 million from the Indian exchange. The fallout from
In the ever-evolving landscape of cryptocurrency, allegations can take root quickly, often spreading like wildfire across social media platforms. One such instance hit the scene on September 16, when rumors erupted claiming that Coinbase was mismanaging funds linked to the long-awaited BlackRock Bitcoin exchange-traded fund (ETF). Speculations suggested that rather than utilizing BlackRock’s capital to
The saga surrounding Ryan Salame, a former executive at FTX, has taken an unexpected turn that raises significant questions about the integrity of legal proceedings and personal accountability. In a striking admissions during a court hearing, Salame confessed to providing false statements as part of his plea agreement concerning campaign finance and money-transmitting crimes. This
Recently, Binance’s subsidiary Tokocrypto made headlines by obtaining a Physical Crypto Asset Trader (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Agency (Bappebti). This significant milestone positions Tokocrypto as only the third exchange in Indonesia to receive such a license, amidst a total of 35 prospective crypto exchanges registered with Bappebti. In the past year,
The cryptocurrency ecosystem has once again been targeted by scammers, this time setting their sights on users of the popular exchange Gemini. Jameson Lopp, co-founder of CasaHODL, recently uncovered a new phishing scam that attempts to deceive users into transferring their funds to malicious actors. The scam involves a fake data breach notice claiming that
A Nigerian court recently delayed the ruling on the bail application for Tigran Gambaryan, a detained executive from Binance, until October 9. This decision came after arguments were presented by Gambaryan’s lawyer, Mark Mordi, and the prosecuting counsel, Ekele Iheanacho, who opposed the bail request. The lawyer had submitted a new bail application on September
In recent months, Coinbase has experienced a significant drop in market share, according to a report by research firm Kaiko. While Coinbase previously held over 50% of the US crypto market earlier in the year, its market share has now fallen to 41% as of early September. This decline has opened up opportunities for smaller