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…