The cryptocurrency industry has long been plagued with scandals and controversies, but the recent legal action taken by bankrupt exchange FTX against the parents of its founder and former CEO, Sam Bankman-Fried, is truly shocking. In a lawsuit filed on Monday, FTX accuses Joseph Bankman and Barbara Fried of engaging in fraudulent activities that have
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The once-promising cryptocurrency platform, JPEX, is currently facing a significant setback. Headquartered in Dubai, the exchange has recently come under scrutiny from Hong Kong police and the financial regulator over allegations of fraud. As a result, the company has made the decision to “delist” all transactions associated with its Earn Trading interface. This move will
In a recent development, attorney John Deaton, well-known for representing XRP token holders in their fight against the SEC, has taken an active role in the LBRY court case. On September 13, Deaton filed a notice to serve as Amicus Curiae, indicating his intention to offer information and expertise to assist the court in making
In an exciting development for the Brazilian crypto market, Ramp Network, a leading crypto startup, has recently integrated Pix, a payment method offered by the Central Bank of Brazil. This integration is set to revolutionize the onboarding process for individuals and businesses in Brazil, leveraging the widespread use of Pix throughout the country. The addition
The recent disclosure by Fortress Trust about a cryptocurrency theft amounting to nearly $15 million has brought attention to a complex situation involving a third-party vendor and a phishing attack. The incident has highlighted vulnerabilities in the security measures employed by vendors and the potential risks faced by cryptocurrency investors. It has been revealed that
In a move that highlights the challenges faced by Binance.US, the leading crypto exchange’s American arm, the company has announced a significant reduction in its workforce. The decision to eliminate 100 positions comes amidst a series of setbacks for the exchange, including a lawsuit filed by the US Securities and Exchange Commission (SEC). With these
As the crypto industry continues to grow and attract more users, the need for strong security measures becomes increasingly important. One such measure is the implementation of know-your-customer (KYC) procedures, which require users to verify their identities before accessing crypto exchange services. In a recent interview with The Block, Gracy Chen, Managing Director at Bitget,
A recent report by crypto researcher Kaiko has shed light on the highly concentrated nature of crypto trading liquidity. The study reveals that nearly 90% of the trading volume is handled by just eight major exchanges in the market. Among the exchanges responsible for this overwhelming majority are Binance, Coinbase, OKX, and Huobi. Binance, in
On September 7, global web3 technology leader OKX and fintech firm Circle Internet Financial made headlines with their announcement of USDC features on the OKX Wallet and the OKX DEX aggregator. This groundbreaking partnership aims to revolutionize the way USDC transactions are conducted by facilitating gasless transactions, eliminating network fees, and enabling cross-chain USDC swaps
In a recent statement by the FBI, it has been revealed that North Korean hackers from the infamous Lazarus Group are responsible for stealing a staggering $41 million worth of cryptocurrency from the online crypto casino Stake. The attack, which occurred around September 4, targeted multiple blockchain networks including Ethereum, BNB Chain, Polygon, and Bitcoin.
