Binance has not only solidified its position as the preeminent cryptocurrency exchange but has also broken impressive records in user acquisition. As reported on November 22, the platform has surged past 240 million global users, a significant jump that highlights the increasing interest and participation in the cryptocurrency space. From a baseline of 170 million
Exchanges
FTX, along with its affiliated debtors, is gearing up for the implementation of its Chapter 11 Plan of Reorganization, which is slated for completion by January 2025. This plan is crucial as it will address the indebtedness FTX incurred during its dramatic collapse in late 2022, drawing the attention of creditors, customers, and the broader
In a significant breakthrough, South Korean authorities have retrieved 4.8 Bitcoin (BTC) linked to the notorious 2019 hack of the Upbit exchange, demonstrating the ongoing struggle against cybercrime in the cryptocurrency sphere. The illicit breach resulted in the theft of a staggering 342,000 Ethereum (ETH), valued at $41.4 million at the time, but now sitting
On November 19, Coinbase announced its decision to discontinue trading pairs for Wrapped Bitcoin (WBTC) across its exchange and Prime platforms beginning December 19. This action is primarily attributed to WBTC’s failure to meet Coinbase’s stringent listing standards. Although users will still have the ability to withdraw their funds post-deadline, the move illustrates a significant
In an exciting development announced on November 18, Binance has unveiled BFUSD, a stablecoin specifically crafted for futures and perpetual trading enthusiasts. With an impressive annual percentage yield (APY) of about 19.55%, BFUSD offers traders a unique opportunity to grow their investments seamlessly as they hold the coin in their Binance futures accounts. This innovative
The recent discussions regarding the potential acquisition of Bakkt by Donald Trump’s media entity, Trump Media and Technology Group (TMTG), highlight a significant intersection between traditional media and the growing cryptocurrency landscape. As reported by the Financial Times, this proposed all-share deal could be a strategic maneuver for TMTG, which is looking to diversify its
The recent revelation of significant Know-Your-Customer (KYC) violations by Upbit, South Korea’s leading cryptocurrency exchange, has sent shockwaves throughout the financial community. Following a standard review undertaken by the Financial Intelligence Unit (FIU) of the Financial Services Commission (FSC), reports indicate that the exchange could be linked to anywhere between 500,000 and 600,000 KYC infractions.
The recent $235 million breach of the cryptocurrency exchange WazirX has prompted both excitement and concern within the digital finance sector. As one of India’s significant exchanges, WazirX’s compromise raises alarms over cybersecurity practices in an industry that is often plagued by vulnerabilities. Recently, the Delhi Police made pivotal advancements in the perpetuation of this
In the aftermath of the recent U.S. elections, Binance has reported an extraordinary influx of capital, with over $7 billion rushing into the platform since November 5, as revealed in a report dated November 12. This towering figure indicates a clear preference among investors for Binance, eclipsing its nearest rival, OKX, which managed to attract
The cryptocurrency landscape is no stranger to controversy, and recent events surrounding Binance’s decision to list Solana-based memecoins, The AI Prophecy (ACT) and Peanut the Squirrel (PNUT), have reignited debates. Community members have raised serious questions regarding the integrity of these listings, suspecting that they might constitute a classic case of a pump-and-dump scheme. This
