The saga surrounding WazirX, a once-thriving crypto exchange, has reached another disheartening chapter after the Singapore High Court decisively rejected its restructuring proposal. The failed plan, aimed at resurrecting the platform after a staggering $230 million hack in July 2024, has left both stakeholders and the crypto community questioning the operational integrity of such exchanges.
Exchanges
In a bold and telling move, Robinhood has completed its $200 million acquisition of Bitstamp, a historic player in the world of cryptocurrency exchanges. The strategic decision reflects not only a thirst for expansion but an underlying confidence in the potential of the crypto market. By acquiring Bitstamp, Robinhood instantly garners over 50 active licenses
In a groundbreaking shift, IG Group is set to open the floodgates for retail investors by permitting them to trade 38 different cryptocurrencies on its multi-asset platform, starting June 3. This monumental decision comes at a time when the UK financial landscape is desperately seeking clarity and legitimacy in the crypto realm. With their partnership
The recent announcement that the FTX Recovery Trust will initiate a monumental $5 billion repayment round has set the stage for potentially seismic shifts in the digital asset landscape. After the catastrophic collapse of FTX in 2022, this repayment signifies not merely a chance for creditors to reclaim lost resources but also a pivotal moment
In the ever-evolving landscape of digital finance, the legal wranglings surrounding Binance and its CEO, Changpeng Zhao, serve as a stark warning of the perils of regulatory overreach. The recent decision by the US Securities and Exchange Commission (SEC) to request the dismissal of its civil complaint against Binance is a multifaceted issue that encapsulates
In the complex world of cryptocurrency, few stories are as tragic and fraught with disappointment as the repayment process for creditors of the now-defunct FTX exchange. The recent announcement by BitGo, initiating the second phase of FTX’s repayment program, may seem like a beacon of hope on the surface, but it illustrates just how long
In the ever-evolving world of cryptocurrency, innovation often walks hand-in-hand with volatility. Kraken’s recent introduction of perpetual futures contracts for the Pi Network’s native token, PI, stands as a testament to this reality. While the allure of leveraged trading—offering up to 20 times leverage—promises potential profits, it also presents an array of risks that could
In an unprecedented move, Binance—the leading cryptocurrency exchange by trading volume—has announced its plans to list the USD1 stablecoin, an innovative financial tool affiliated with a venture linked to the Trump dynasty, World Liberty Financial (WLFI). Such an undertaking not only speaks volumes about Binance’s confidence in the potential of USD1 but also signals an
Gone are the days when cryptocurrency exchanges were considered bastions of security and innovation. Coinbase recently found itself at the center of scandal and scrutiny after a significant data breach exposed sensitive information of nearly 70,000 users, a shocking breach that not only undermines user trust but also casts shadows over the entire crypto industry.
When it comes to legal battles in the cryptocurrency sector, jurisdiction often plays a pivotal role, and Binance is using this to its advantage in its response to FTX’s $1.76 billion lawsuit. The exchange asserts that U.S. courts simply do not have the authority over the foreign entities involved in this case. The implication here