The US prosecutors filed a sentencing memo on February 16 urging a federal judge to approve the plea deal made by Binance and its former CEO Changpeng Zhao in November 2023. The charges included money laundering and sanctions violations, resulting in a record-breaking criminal penalty of $4.3 billion for Binance. Additionally, the plea deal mandates
Exchanges
The latest financial report from cryptocurrency exchange giant Coinbase has revealed both positive and negative highlights for the company. With a net income of $95 million and adjusted EBITDA of $964 million for the full year of 2023, Coinbase experienced significant growth. However, there were certain areas that showed a decline in revenue, raising concerns
In a significant move to enhance accessibility for self-custody users seeking to purchase cryptocurrencies, leading self-custody wallet Ledger has teamed up with Coinbase. The collaboration aims to simplify the crypto purchasing process and broaden access for new users. The integration of Coinbase Pay into Ledger Live brings a seamless pathway for Ledger users to purchase
Coinbase, the popular cryptocurrency exchange, has recently lifted the freeze on Debt Box’s assets. This decision comes after Coinbase discovered discrepancies in the Securities and Exchange Commission’s (SEC) representation of its case against the firm. In a social media post, Paul Grewal, Coinbase’s chief legal officer, criticized the SEC’s flawed actions and lack of immediate
South Korea’s Financial Intelligence Unit (KoFIU) has recently unveiled a comprehensive plan to strengthen its oversight of the cryptocurrency industry. This move aims to enhance financial regulation and ensure consumer protection in the rapidly evolving digital asset market. The new measures, formulated after extensive consultations with industry stakeholders and policy advisors, include stricter operational standards
Hong Kong’s Securities and Futures Commission (SFC) and local law enforcement have issued a joint warning to the public regarding a fraudulent entity pretending to be the legitimate crypto exchange MEXC Global. This scam involves luring unsuspecting victims into a crypto investment scheme through social media and instant messaging platforms. The scammers use web domains
The crypto market has witnessed a significant increase in the adoption of custodial accounts, with the total assets under these accounts soaring by 250% in the past four months. This surge can be attributed to various factors, including the growing anticipation of a bull run, the integration of cryptocurrencies into daily life, macroeconomic conditions, and
In a surprising move, Binance, the leading cryptocurrency exchange in terms of trading volume, announced that it would be delisting two prominent digital assets, Monero (XMR) and Multichain (MULTI), by February 20. This decision sent shockwaves throughout the crypto community, as the values of both coins plummeted significantly following the news. Once Binance made the
The Securities and Futures Commission (SFC) in Hong Kong has issued a notice to unregistered Virtual Asset Trading Platforms (VATPs) operating within its jurisdiction. According to the notice released on February 5th, these platforms are required to submit their licensing applications by February 29th, 2024. Failure to comply with this deadline will result in the
When Bitcoin’s price briefly dipped below $40,000 and then rebounded to $42,000, it ignited significant interest and speculation within the market. However, the consequences of these price movements went beyond conventional expectations. Glassnode’s data revealed a more nuanced picture, raising questions about the evolving dynamics of cryptocurrency trading. Examining the volumes of exchange deposits and
