Bitget, a top cryptocurrency exchange and Web3 company, is now the first centralized exchange (CEX) to introduce a USDT delivery feature to its Pre-market product. This feature is part of their advanced over-the-counter (OTC) trading solution, allowing users to place orders in advance. The new USDT delivery feature improves upon the existing Token Delivery model…
Cryptocurrency exchange Binance is facing a major tax issue in India after the country’s tax authorities issued a notice demanding a Goods and Services Tax (GST) payment of $86 million. The Directorate General of GST Intelligence claims that Binance collected fees from Indian customers for trading virtual digital assets without remitting the appropriate taxes, according…
Even with Bitcoin and Ethereum prices recovering, ETFs tied to these cryptos faced large outflows. Bitcoin ETFs saw over $400 million in withdrawals since early August. Ethereum ETFs had $341.35 million outflow in the first week and another $169.35 million the next week. Grayscale’s GBTC also experienced $69.12 million in outflows in just one day….
WazirX has decided not to go ahead with its plan to share the losses from the recent $230 million hack among its users. The exchange had proposed a 55/45 approach, but this idea faced strong opposition from the crypto community. After a recent poll showed little support for the plan, WazirX scrapped it. Meanwhile, users…
Mt. Gox’s recent Bitcoin transfer has left it with a $3 billion BTC balance. Ahead of the U.S. July jobs report on August 2nd, Bitcoin selling has continued. Mt. Gox moved 33.96K BTC, worth $2.25 billion, to addresses likely linked to BitGo, leaving it with 46.16K BTC, or $3.06 billion. This move might reduce future…
Coinbase’s trading revenue from institutional clients has surpassed expectations, reaching $63.9 million compared to the anticipated $55 million. This revenue surge has contributed to a recovery in COIN stock. In addition, Coinbase’s Base Layer 2 has experienced a remarkable 300% growth in transaction volume from the previous quarter. This significant increase has positioned it as…
Defunct crypto exchange Mt. Gox is getting ready to distribute $5.35 billion worth of Bitcoin to its creditors and is currently running test transactions. After transferring nearly 50,000 Bitcoins over the past two weeks through Kraken and Bitstamp, Mt. Gox plans to move the remaining 80,500 Bitcoins. This news comes as Bitcoin struggles to break…
Indian crypto exchange WazirX has introduced a new plan to help users recover from the recent hack. The company is using a “fair and transparent” strategy that shares the financial loss equally among all users, ensuring that everyone is affected equally by the hack. The exchange is implementing a “fair and transparent” strategy designed to…
Indian crypto exchange WazirX is planning to set up a poll to let customers vote on whether to reopen the platform for withdrawals, deposits, and trading. Co-founder Nischal Shetty mentioned that they are exploring various options to aid in the recovery. Additionally, WazirX is reaching out to projects related to the stolen tokens to get…
Binance, a leading cryptocurrency exchange, is updating its platform by adding new assets and removing some existing ones. These changes are important for crypto investors and enthusiasts, as they will affect the market. This article covers Binance’s recent updates, including new asset listings, loan options, and the removal of certain trading pairs, offering investors more…
The troubled crypto exchange Mt. Gox transferred another large amount of Bitcoin on Wednesday, following recent BTC and BCH transfers intended for creditor repayments. This indicates that Mt. Gox is likely to continue moving significant amounts of Bitcoin throughout the week. In parallel, Kraken has begun distributing Bitcoin that it received from the Mt. Gox…
Indian cryptocurrency exchange WazirX has introduced a $23 million bounty program to recover $230 million lost in a recent wallet breach. The breach impacted their multisig Ethereum wallet, causing significant losses and forcing the exchange to halt withdrawals and trading. To tackle this, WazirX is asking white hat hackers, blockchain experts, and cybersecurity professionals around…
The WazirX breach reveals vulnerabilities in multisig wallets, even with strong security measures. In one of the year’s biggest cyberattacks, the Indian cryptocurrency exchange lost over $230 million from a multisig wallet. WazirX reported that the attack targeted a multisig wallet using Liminal’s custody and wallet infrastructure since February 2023. The wallet had six signatories—one…
Indian crypto exchange WazirX has announced that it lost virtual assets valued at over $230 million due to a cyber attack, which is now linked to North Korea. Late Thursday update from WazirX, the attack specifically targeted one of WazirX’s multi-signature wallets, known as digi-cash lockers. These wallets are designed for enhanced security by requiring…
OKX, a leading cryptocurrency exchange, has announced its decision to withdraw from the Nigerian market, effective August 30. The move comes in response to significant regulatory changes in Nigeria. A spokesperson for OKX underscored the exchange’s commitment to adhering to local regulations in all jurisdictions where it operates. OKX Ceases Operations in Nigeria Amid Regulatory…
Toncoin (TON) is a leading cryptocurrency, ranking among the top 10 by market capitalization. Despite recent price corrections, TON remains robust, trading above $7. However, the token faces significant hurdles with exchange listings, being excluded from major platforms like Binance and Coinbase. This exclusion stems from regulatory issues in the U.S. market, making TON one…
The German government has begun selling off Bitcoin, transferring nearly 4,900 BTC to crypto market maker Cumberland and exchanges like Coinbase, Bitstamp, and Kraken. This latest move brings the total amount of Bitcoin sold today to over 4,837 BTC. The massive selloff has contributed to Bitcoin’s price dropping to $53,000 and is likely to keep…
Bitget, a leading global cryptocurrency exchange and web3 company, is excited to announce that its native token, Bitget Token (BGB), is now available for futures trading on their platform. The first BGB perpetual futures, BGBUSDT-M, will be live on July 8, 2024, with a maximum leverage of 50x. BGB, launched in July 2021 with a…
Binance will delist BOND, DOCK, MDX, and POLS on July 22, 2024. Deposits and withdrawals for these altcoins will end on specific dates before then. Users are advised to close their positions or transfer their assets to avoid any losses. Binance, one of the world’s top cryptocurrency exchanges, has announced that it will remove BarnBridge…
The collapsed exchange has begun repaying its debts to creditors through select crypto exchanges, following the Rehabilitation Plan. Mt. Gox, the failed crypto exchange, has started paying back its debts in Bitcoin (BTC) and Bitcoin Cash (BCH). Mt. Gox Begins Repayments to Creditors Repayments are being made to some rehabilitation creditors via designated crypto exchanges…
Coinbase, a publicly traded crypto exchange, has filed two civil lawsuits against the U.S. Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) through an intermediary. Coinbase is asking for access to documents that might explain how the regulators decided which crypto tokens to classify as securities. Coinbase Sues SEC and FDIC…
Bithumb has listed a new altcoin, CORE, for trading. Deposits for CORE will begin on June 24, 2024, at 09:00 Turkey time. CORE aims to establish a robust Web3.0 infrastructure. Today, South Korea’s top cryptocurrency platform Bithumb announced the listing of a new altcoin project named CORE. Users can now trade CORE using South Korean…
On Thursday, a federal judge handed down a 25-year prison sentence to Sam Bankman-Fried, who served as the former CEO of FTX. The judge cited Bankman-Fried’s “apparent lack of remorse,” his tendency to be “exceptionally flexible with the truth,” and the audacity of his fraudulent actions. US District Court Judge Lewis Kaplan sentenced Sam Bankman-Fried…
KuCoin has officially announced its support for Manta Network on its trading platform. The deposit feature for MANTA tokens will be available from January 18, with trading scheduled to commence shortly, paired with USDT. Notably, the project is led by a team of experienced entrepreneurs with connections to prestigious institutions like Harvard, MIT, and Algorand….
Upbit Singapore has received initial approval from the central bank and financial regulator of the country for a cryptocurrency license that allows them to operate locally. The Singapore division of Upbit, which is South Korea’s largest exchange in terms of trading volume, has received initial approval for a Major Payment Institution (MPI) license in Singapore….
Crypto firms like Binance, OKX, and MoonPay are working to follow the United Kingdom’s new financial promotion regulations. The UK’s Financial Conduct Authority (FCA) introduced these regulations on October 8 to ensure that crypto promotions are fair, transparent, and clean. Binance has launched a new domain for UK users and partnered with a local lending…
On October 6, 2023, Binance News unveiled a UK-specific domain in compliance with the Financial Conduct Authority (FCA) regulations. Starting October 6, 2023, Binance introduced a dedicated UK domain, binance.com/en-GB, exclusively serving UK-based clients. This move aligns with the Financial Conduct Authority (FCA) regulations, specifically the updated Financial Promotions Regime. Binance’s collaboration with Rebuildingsociety.com Limited…
A class-action lawsuit has been initiated by a resident of California named Nir Lahav against Binance and its CEO, CZ. The lawsuit alleges that Binance and CZ violated legal statutes by allegedly engaging in actions that harmed their competitor, FTX, in what is believed to be an attempt to establish a monopoly within the cryptocurrency…
Binance France actively promotes the adoption of cryptocurrencies while simultaneously tackling banking obstacles following its withdrawal from the Russian market amid a backdrop of persisting regulatory difficulties. In recent updates, Binance France has advised its user base to promptly transition their fiat holdings into digital currencies. This guidance comes in the wake of the conclusion…
Mt. Gox, which lost 850,000 Bitcoins in 2014 due to a security breach, has extended its repayment deadline to October 31, 2024. This year, two individuals were charged by the U.S. DOJ for conspiring to steal a portion of the stolen BTC, which is now worth nearly $23 billion. In the ongoing Mt. Gox saga,…
The Australian Securities and Investments Commission (ASIC) has taken legal action against Bit Trade, the operator of Kraken cryptocurrency exchange in Australia. ASIC has accused Bit Trade of not meeting design and distribution requirements for one of its trading products, specifically a margin trading product. The civil charges were filed in the Federal Court, as…
In the ongoing legal battle between Binance.US and the SEC, a federal judge made an important decision. The judge denied the SEC’s request to access Binance.US’s technology systems during a hearing where Binance.US argued that the SEC’s request was too broad and intrusive. Federal Magistrate Judge Zia Faruqui stated that he was not inclined to…
Prime Trust encountered severe financial difficulties, resulting in an $8 million loss linked to its investment in the failing terraUSD stablecoin. Conversely, BitGo showcased resilience by obtaining $100 million in funding after reevaluating its acquisition plans involving Prime Trust. BitGo and Swan, both prominent names in the world of Bitcoin financial services, are joining forces…
Coinbase, a popular cryptocurrency exchange, has expanded its services by introducing a Web3 wallet tailored for major institutions involved in Web3, DeFi (Decentralized Finance), and NFTs (Non-Fungible Tokens). This new crypto wallet utilizes MPC (Multi-Party Computation) technology, enabling clients to securely store tokens from supported networks, access their funds, engage with decentralized applications (dApps) and…
Former SEC official John Reed Stark has suggested that the upcoming hearing between lawyers representing Binance and the SEC could be quite contentious. Observers should anticipate some fireworks when the two sides clash. John Reed Stark, a former executive at the U.S. Securities and Exchange Commission (SEC), has told his over 25.7k followers on the…
The US SEC (Securities and Exchange Commission) has asked for permission to open up and show everyone the secret papers in a lawsuit they have against Binance, BinanceUS, and their CEO, known as “CZ.” They want to make these private documents public. The U.S. Securities and Exchange Commission, or SEC, wants to show some papers…
Bybit, a popular cryptocurrency exchange, wants to clear up some confusion. There were reports that Bybit was thinking about leaving the United Kingdom because of new financial rules starting on October 8th, 2023. Some news stories said that Bybit wasn’t happy with the strict rules for crypto companies in the UK. They even suggested that…
CoinEx Halts Transactions After $54 Million Cryptocurrency Theft Due to Security Breach. CoinEx, a cryptocurrency exchange, recently experienced a hacking incident resulting in the loss of over $54 million worth of assets. Although the breach is awaiting official confirmation, it appears that assets stored in Ethereum (ETH), TRON, and Polygon wallets may have been compromised….
Binance.US, the American branch of the global cryptocurrency exchange, is going through a big shake-up. More than 100 jobs are being cut, and the CEO, Brian Shroder, is stepping down temporarily. The company’s chief legal officer, Norman Reed, is taking over for now. This Miami-based company is letting go of about a third of its…
FTX, once a major cryptocurrency exchange, is now dealing with bankruptcy issues. They’re asking the court to allow them to sell a massive $3.4 billion worth of cryptocurrencies on September 13. Just the news of this planned sell-off has already caused the market to decline, indicating possible negative trends for Wednesday. It’s important to note…
Crypto exchange Bitgamo is set to install around 75 crypto ATMs across Europe in the next year. Bitgamo has been growing significantly and stands out as the only crypto-to-fiat exchange without KYC requirements, providing competitive exchange rates. However, the introduction of MiCA regulations in Europe raises questions about whether all platforms can carry out their…
Coinbase is making big changes to its services around the time of the G20 Summit. Some reports suggest they told Indian users to withdraw their funds by September 25, leading to speculation about them leaving the Indian market. However, it seems they might be changing rules for all customers instead of completely stopping operations in…
Coinbase CEO Brian Armstrong talked about the company’s plans to expand to 83% of G-20 countries and expressed optimism about U.S. regulations. He also mentioned that Coinbase is the custodian for several Bitcoin ETF applications. Coinbase CEO Brian Armstrong recently talked about the company’s global plans on CNBC’s Power Lunch. He mentioned that 83% of…
According to the report, the top eight exchanges have a combined 91.7% control over market depth. Binance leads the crypto market with a 30.7% market depth, and Kaiko noted that this increase is partly due to the exchange’s zero-fee trading promotion. A recent report from data analytics company Kaiko has shed light on the concentration…
Faruk Fatih Ozer was given a verdict on Thursday by a court in Istanbul. He was found guilty of various crimes, including fraud and money laundering, as reported by Bloomberg. The founder of Thodex, a cryptocurrency exchange in Turkey that went out of business, has been sentenced to an astonishing 11,196 years in prison by…
India’s digital currency exchange, CoinSwitch, is cutting its workforce by 8% as it explores ways to adapt to current market conditions. The job cuts primarily affected employees in customer support roles, where the exchange saw redundancy. A total of 44 individuals were affected, and CoinSwitch claims that these employees voluntarily resigned after discussions with management….
Coinbase plans to list PYUSD, a stablecoin from PayPal, following the trend of other crypto exchanges. The trading of PYUSD is scheduled to start on August 31. Coinbase, a prominent cryptocurrency exchange, is adding support for the newly launched stablecoin PYUSD by PayPal. The exchange announced that trading for PYUSD will commence on or after…
Bitget is launching a new awards program called the Bitget Smart Awards. The awards will recognize outstanding achievements in key on-chain activities that are shaping the future of the decentralized world. There are two categories of awards: Smart Money Awards and Hero Trader Awards. The Smart Money Awards will go to people who have demonstrated exceptional…
The biggest cryptocurrency exchange in the world, Binance, is reviewing its operations in Russia. A representative from Binance shared this information with the Wall Street Journal. Binance, which is the biggest exchange for cryptocurrencies globally, is taking a new look at its operations in Russia due to legal concerns in the country. The Wall Street…
Around 40% of all the Bitcoin that exists has stayed still for over three years, according to a report from Bitfinex this week. People who hold onto Bitcoin for a long time are still getting more and keeping it for even longer. This shows that they’re feeling good about it, says the report. The Bitfinex…