In a significant development reported by Bloomberg News, a former senior executive at Binance, Amrita Srivastava, has brought forth serious allegations against the cryptocurrency exchange’s corporate governance. Srivastava claims that she was unjustly terminated from her position after she raised alarms regarding an alleged bribery scheme that involved one of her colleagues. This revelation has
Exchanges
Celo, a notable player in the blockchain landscape, has recently initiated a transition from its original Layer-1 architecture towards a Layer-2 network integrated within the Ethereum ecosystem, specifically within Optimism’s Superchain framework. However, the announcement surrounding this migration has been met with considerable pushback, particularly after the largest U.S.-based cryptocurrency exchange, Coinbase, declared it would
In a significant development for the beleaguered cryptocurrency exchange FTX, the company and its associated debtors have announced a structured plan to implement their Chapter 11 Plan of Reorganization by January 2025. This plan aims to facilitate the distribution of funds to satisfied creditors and customers who have patiently awaited a resolution since FTX’s collapse.
In November 2023, South Korean authorities made significant strides in the ongoing investigation of the 2019 hacking of the Upbit exchange, recovering 4.8 Bitcoin (BTC) linked to this notorious incident. The initial attack saw North Korean hackers siphoning off an astonishing 342,000 Ethereum (ETH), valued at approximately $41.4 million at the time. Today, this stolen
In a recent announcement dated November 19, Coinbase revealed plans to cease trading pairs for Wrapped Bitcoin (WBTC) on its exchange and Prime platforms, effective December 19. This move has generated significant chatter within the cryptocurrency community, particularly as it follows BitGo’s decision to shift control of WBTC to a venture linked with TRON founder
On November 18, Binance made headlines with the launch of BFUSD, a yield-bearing stablecoin specifically designed for futures and perpetuals traders. This move marks Binance’s strategic shift in response to evolving market demands and competitive pressures within the cryptocurrency ecosystem. BFUSD isn’t just another stablecoin; it promises an impressive annual percentage yield (APY) of around
In a significant move to broaden its business landscape, Trump Media and Technology Group (TMTG), established by President-elect Donald Trump, is reportedly advancing negotiations to acquire Bakkt, a cryptocurrency trading platform operated by Intercontinental Exchange (ICE). This potential all-stock transaction aligns with TMTG’s strategy to diversify and tap into the rapidly evolving cryptocurrency sector, which
The recent revelations concerning Upbit, South Korea’s largest cryptocurrency exchange, have generated considerable concern within the regulatory landscape of digital finance. The Financial Intelligence Unit (FIU) under the Financial Services Commission (FSC) discovered alarming Know-Your-Customer (KYC) irregularities while conducting a routine review ahead of Upbit’s business license renewal. Initial reports suggest the potential existence of
The world of cryptocurrency has always been riddled with technological vulnerabilities, and the recent breach involving WazirX is a glaring example. The Delhi Police have made significant strides in their investigation of the staggering $235 million breach that has shaken the foundation of this prominent crypto exchange. The arrest of SK Masud Alam from Bengal
In the wake of the recent US elections, Binance, one of the largest cryptocurrency exchanges globally, reported an extraordinary influx of capital, totaling over $7 billion since November 5. This impressive inflow dwarfed its nearest competitor, OKX, which saw around $1 billion within the same timeframe. The data suggests that the election results and subsequent
