The cryptocurrency landscape is fraught with volatility and uncertainty, and events like the 2016 Bitfinex hack serve as stark reminders of the inherent risks involved. Recent news suggesting that Bitfinex is the only entity entitled to restitution following the infamous hack has ignited discussions within the crypto community. This article seeks to unpack the legal
Exchanges
On October 7, 2023, Bitget exchange experienced a tumultuous incident involving its native BGB token, which witnessed an alarming drop in its value from $1.15 to $0.5344 within a mere ten-minute span. This unexpected volatility raised significant concerns among traders and investors alike, as such sharp declines can seriously impact market confidence and trading behaviors.
The landscape of cryptocurrency is continually evolving, and 2023 has been no exception. One striking trend has emerged: a significant wave of delistings of privacy tokens from centralized exchanges. A recent Kaiko report highlights that nearly 60 privacy tokens faced delisting this year, marking the highest number recorded since 2021. This article delves into the
In a groundbreaking move for the cryptocurrency landscape, Bybit, a well-known exchange platform, has launched a dedicated Islamic crypto account aimed specifically at Muslim users. This initiative, announced by CEO Ben Zhou on social media, highlights Bybit’s commitment to inclusivity in the burgeoning digital asset space. The Islamic account is designed to adhere to Shariah
In September 2023, Binance, one of the world’s largest cryptocurrency exchanges, celebrated a remarkable feat by surpassing $100 trillion in trading volume since its inception in 2017. This landmark event, announced by CEO Richard Teng, underscores the exchange’s significant influence in the crypto market. The figure represents not only an extraordinary achievement for Binance but
In a bid to bolster the utility and demand for its synthetic dollar, USDe, Ethena Labs has recently put forth a compelling proposal for the creation of a decentralized exchange (DEX) named Ethereal. Proposed by community member Fells0x, this initiative responds to the growing challenges faced by USDe in a competitive crypto landscape. As the
South Korea’s Bithumb, a significant player in the cryptocurrency exchange market, recently revealed its intentions to pursue a public listing in the United States. The announcement, made during a shareholders meeting on September 30, has garnered considerable attention in the financial community. The exchange is eyeing a listing on the Nasdaq, targeting the latter half
In a significant move within the digital currency landscape, Kraken has declared the end of Monero (XMR) support for clients in the European Economic Area (EEA) effective October 31, 2024. This announcement, made public on October 1, stems from evolving regulatory conditions in Europe that are increasingly tightening around cryptocurrencies, particularly those tied to privacy
In a surprising move, Gemini, a prominent cryptocurrency exchange, has disclosed intentions to wind down operations in Canada by the end of 2024. This news was delivered to customers via email on September 30, 2023, informing them of the impending closure of their accounts. By December 31, 2024, Gemini plans to cease all activities tailored
Caroline Ellison, once the prominent CEO of Alameda Research, has recently been sentenced to two years in prison, alongside an order to forfeit a staggering $11 billion. This ruling, handed down on September 24, symbolizes a significant moment in the ongoing legal saga surrounding the collapse of FTX, the cryptocurrency exchange that once held a
