The FTX exchange, once a titan in the cryptocurrency sphere, is embroiled in a legal struggle as it pursues Ryan Salame, the former co-CEO of its Bahamian branch. A recent court filing, dated November 4, reveals that FTX aims to reclaim an astounding $98.8 million in cash and cryptocurrency. The lawsuit not only seeks recovery
Exchanges
The saga of Mt. Gox, once the largest cryptocurrency exchange that succumbed to a catastrophic hack in 2014, continues to unfold with significant implications for the crypto landscape. Recent transactions indicate that the exchange has moved over $2 billion worth of Bitcoin, effectively revitalizing interest and concern regarding the handling of its remaining assets. According
The cryptocurrency landscape is often mired in debates about transparency, fairness, and ethical practices – a reality recently illustrated by a dispute between prominent figures in the industry. Justin Sun, the founder of the Tron Network, and Andre Cronje, co-founder of Sonic Labs, have fundamentally challenged Brian Armstrong’s assertion that Coinbase does not levy fees
On October 31, the crypto exchange M2, based in the United Arab Emirates, experienced a harrowing security breach that culminated in the loss of approximately $13.7 million in various digital assets. The incident was officially disclosed on November 1, detailing that the attack transpired at around 3:16 A.M., despite prompt actions taken by the M2
In a pointed critique, Coinbase’s CEO Brian Armstrong has urged the next Chair of the U.S. Securities and Exchange Commission (SEC) to rethink the ongoing legal challenges against cryptocurrency firms, branding many of these actions as “frivolous.” His remarks were delivered via an October 29 post on X, wherein he expressed a deep concern regarding
In the dynamic realm of cryptocurrency, the performance of newly listed tokens is a critical indicator of market trends and exchange strategies. A recent analysis conducted by Animoca Research revealed that tokens introduced across five prominent exchanges, namely Binance, Bitget, Bybit, KuCoin, and OKX, demonstrated severe negative median performances, ranging from 40% to 70%, during
Gemini, the cryptocurrency exchange founded by the Winklevoss twins, has recently announced that it has garnered in-principle approval from the Monetary Authority of Singapore (MAS) to deliver cross-border money transfer and digital payment token services. This development not only boosts Gemini’s status in the Asia-Pacific (APAC) region but also illustrates the ongoing evolution of the
In a significant announcement made on October 31, Binance, the world’s largest cryptocurrency exchange by trading volume, revealed a strategic partnership with Amazon Web Services (AWS) to infuse its platform with advanced generative AI technologies. This collaboration aims to enhance user interactions, streamline onboarding processes, and fortify customer support mechanisms, showcasing Binance’s forward-thinking vision in
In a significant move for the blockchain sector, the Optimism Foundation has forged a $25 million deal with Kraken to integrate the exchange’s new layer-2 (L2) blockchain called Ink into the Superchain ecosystem. This alliance is not merely a financial transaction; at an estimated valuation of $43 million based on current market rates for OP
The collapse of FTX, once a beacon in the cryptocurrency exchange landscape, has left an indelible mark on financial ethics and regulatory frameworks. On October 30, former engineering director Nishad Singh received a sentence of time served, coupled with three years of supervised release, after admitting to significant infractions including misappropriation of user funds and
