In a shocking event that has sent ripples throughout the cryptocurrency community, the ByBit exchange experienced a significant breach, losing approximately $1.5 billion worth of Ethereum (ETH). On February 21, the platform disclosed via social media that it had detected suspicious activities tied to one of its Ethereum cold wallets. This incident marks one of
Exchanges
The collapse of the cryptocurrency exchange FTX in November 2022 sent shockwaves through the blockchain ecosystem, marking one of the most significant failures in the digital asset market. The fallout raised numerous questions regarding accountability, financial transparency, and the treatment of creditors worldwide. Especially notable is the situation regarding various international creditors currently navigating the
In 2024, Kraken, a prominent cryptocurrency exchange, has reported an overwhelming surge in requests for user data from various law enforcement and regulatory agencies. This substantial increase, documented in their recent transparency report, raises pressing concerns about privacy rights in the ever-evolving landscape of digital finance. With a total of 6,826 requests—an increase of 38.6%
In recent months, the excitement surrounding memecoins—cryptocurrencies often linked to internet memes—has attracted both fervent enthusiasm and troubling undercurrents of illegal trading practices. Brian Armstrong, the CEO of Coinbase, has taken a firm stance against insider trading within this sector, particularly highlighting the risks and legal ramifications involved. His cautionary message speaks not just to
In a landmark move, Binance.US has announced the reinstatement of USD deposits and withdrawals for its American customers, transitioning away from its previously limited crypto-only operations. This exciting development was revealed on February 19, highlighting a significant shift in the platform’s offerings. Customers can now enjoy fee-free bank transfer (ACH) services for their USD transactions,
The Federal Inland Revenue Service (FIRS) of Nigeria has initiated a monumental legal confrontation with Binance Holdings Limited, alleging a staggering $81 billion in unpaid taxes and associated penalties. This claim, reported by Nairametrics on November 19, 2023, is a revealing glimpse into the strained relationship between local regulators and one of the world’s largest
In an alarming development for the cryptocurrency community, Binance CEO Richard Teng has issued a chilling caution regarding a sophisticated new scam known as the “share-seed-phrase” scheme. This illicit operation preys on unsuspecting users under the pretense of offering security assistance, ultimately leading them to unwittingly hand over their assets to scammers. By manipulating victims
In a recent emergence of rumors, Changpeng Zhao, the founder and former CEO of Binance, took to social media to counter speculation regarding the sale of the leading cryptocurrency exchange. On February 17, Zhao firmly rejected claims that Binance was preparing to be sold to a larger entity, dismissing the buzz as “misinformation” propagated by
XRP has recently seen an extraordinary uptick in demand on platforms within the United States, surpassing even well-established cryptocurrencies like Ethereum (ETH). A detailed analysis by Kaiko reveals that since November, trading volumes for XRP have skyrocketed, highlighting a significant shift in investor sentiment. Notably, according to Coinbase’s earnings report, XRP has, for the first
The landscape for cryptocurrency exchanges is increasingly shaped by regulatory scrutiny, particularly in Europe, where frameworks like the Markets in Crypto-Assets Regulation (MiCA) have set strict guidelines for operations. Recently, Bybit has made headlines with its removal from the blacklist of France’s financial regulator, the Autorité des Marchés Financiers (AMF). CEO Ben Zhou announced this
