South Korea’s Financial Services Commission (FSC) is gearing up for a deep dive into Upbit, the country’s preeminent cryptocurrency trading platform. The investigation stems from growing concerns regarding Upbit’s substantial influence on the crypto market and its potential ramifications for the financial stability of associated institutions, particularly in light of its relationship with K Bank,
Exchanges
In recent developments concerning the notorious 2016 Bitfinex hack, a new filing by the U.S. government has shed light on the dynamics of restitution related to the theft of approximately 120,000 BTC. The findings suggest that Bitfinex itself may be the only entity eligible for restitution, positioning itself as the primary victim of this unprecedented
On October 7, 2023, Bitget exchange experienced a significant disruption in the trading of its native BGB token, which saw a dramatic decline from $1.15 to $0.5344 within a dizzying timeframe of just ten minutes. This sudden dip raised alarms among traders and investors, prompting the exchange to respond swiftly with a compensation plan aimed
The landscape of cryptocurrency is continually evolving, navigating between innovation and regulatory oversight. Privacy tokens, designed to enhance user anonymity and protect transaction details, have encountered significant challenges this year. A recent report from Kaiko has highlighted a record number of delistings of these tokens by centralized exchanges, drawing attention to the complex interplay between
In a groundbreaking move for financial inclusivity, Bybit, a prominent cryptocurrency exchange, recently unveiled its Islamic Crypto Account, designed specifically for its Muslim clientele. As announced by Bybit’s CEO Ben Zhou on September 24, this initiative represents a significant development in bridging the gap between Islamic finance principles and the modern digital asset trading landscape.
In a significant development for the cryptocurrency sector, Binance has triumphantly announced that its trading volume has exceeded an astonishing $100 trillion since its inception in 2017. This landmark achievement was highlighted by CEO Richard Teng in a recent communication through the social media platform X on September 24, showcasing the exchange’s undeniable dominance in
In the ever-evolving landscape of cryptocurrency, innovation is critical for survival and growth. Ethena Labs, the brains behind the synthetic dollar USDe, has taken a proactive step by proposing the launch of a decentralized exchange (DEX) named Ethereal. This initiative aims to enhance the utility and adoption of USDe amidst growing competitive pressures in the
Bithumb, recognized as South Korea’s second-largest cryptocurrency exchange, is embarking on an ambitious journey toward a public listing in the United States. During a shareholders meeting on September 30, reports surfaced detailing the exchange’s aspirations for a Nasdaq listing slated for the latter half of 2025. This pivotal decision signals a significant shift in Bithumb’s
Kraken, a prominent cryptocurrency exchange, has made a significant announcement regarding its support for Monero (XMR) within the European Economic Area (EEA). As of October 1, the exchange revealed that it will cease support for XMR by the end of October 2024. This move reflects the increasing scrutiny and regulatory challenges facing cryptocurrencies, particularly privacy-focused
In a surprising turn of events, Gemini, one of the prominent cryptocurrency exchanges, has announced its decision to wind down operations in Canada by the end of 2024. This decision was communicated to users via an email dated September 30, indicating that Gemini accounts will be closed effective December 31, 2024, with only limited exceptions.