The financial industry is witnessing a transformative shift as traditional institutions begin to embrace digital assets. In a notable development, BNY Mellon, one of the oldest financial institutions in the United States, is making substantial inroads into the crypto custody market. With a recent exemption from the Securities and Exchange Commission (SEC), BNY Mellon is
Exchanges
Binance, one of the world’s leading cryptocurrency exchanges, has achieved an extraordinary milestone by processing over $100 trillion in trades since its inception in 2017. This landmark figure was announced by Binance CEO Richard Teng via a post on the X platform on September 24. This staggering amount illustrates not only the platform’s growth but
In an innovative move, cryptocurrency exchange Bybit has unveiled an Islamic crypto account aimed specifically at Muslim users, as announced in a statement on September 24. This initiative is designed to align with Islamic financial principles, making it the first of its kind in the crypto market. CEO Ben Zhou highlighted this development on social
In a bold move to cement its footprint in Europe, Kraken, a prominent cryptocurrency exchange, has announced its acquisition of Coin Meester (BCM), a well-established crypto broker in the Netherlands. This acquisition, revealed on September 24, is part of Kraken’s broader strategy to enhance its market presence amid evolving regulatory landscapes and increasing competition. By
The case of Tigran Gambaryan, a detained employee of Binance, has sparked a political outcry and raised critical humanitarian concerns. Since February, Gambaryan has been held in Nigeria under alarming circumstances, which have escalated further due to reports of his deteriorating health. Richard Teng, CEO of Binance, has made an impassioned appeal for the U.S.
Binance, a frontrunner in the cryptocurrency exchange sector, is stepping into the gaming arena with the announcement of “Moonbix,” a play-to-earn (P2E) game exclusively available on Telegram’s Mini App platform. This strategic move signals a merging of social networking with interactive gaming, a combination that holds the potential to reshape how users engage with cryptocurrencies
In recent weeks, Coinbase, a well-established cryptocurrency exchange, has faced a barrage of scrutiny regarding its operations related to Bitcoin exchange-traded funds (ETFs). The controversy ignited on September 16, when unfounded allegations circulated on social media implying that Coinbase was not utilizing BlackRock’s funds to acquire actual Bitcoin (BTC). Instead, critics claimed that the exchange
The landscape of digital currencies, admired for its potential to revolutionize financial transactions, has increasingly drawn the ire of regulators across the globe. Germany’s recent shutdown of 47 cryptocurrency exchanges highlights the urgent need to balance innovation with legality. These exchanges were closed by the Central Office for Combating Internet Crime (ZIT) and the Federal
In the fast-evolving world of cryptocurrency, security breaches are increasingly alarming. BingX, a prominent cryptocurrency exchange, confirmed it faced a significant security lapse when it reported a “minor asset loss” stemming from suspicious transactions involving its hot wallets. This incident, which was disclosed on September 20, accentuates the vulnerabilities inherent in centralized exchanges (CEXs) and
In a significant development in the ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Coinbase, the SEC has formally requested a four-month extension to complete the fact discovery phase. In a letter directed to Judge Katherine Polk Failla on September 18, the agency has proposed moving the current deadline from October
