Recent developments at Binance have confirmed that co-founder Changpeng Zhao (CZ) is permanently barred from managing the crypto exchange. This decision was made under the terms of an agreement that prohibits CZ from any present or future involvement in operating or managing the business. Initially, there were reports suggesting that CZ could potentially return to
Exchanges
In a recent development, a federal judge has declined Coinbase’s request to dismiss a class-action lawsuit filed by shareholders. The lawsuit alleges that the prominent US crypto exchange misled investors by downplaying the risk of facing legal actions from the US Securities and Exchange Commission (SEC). The lawsuit was initiated on May 10, 2023, naming
The recent cyberattack on the Indian crypto exchange WazirX has caused chaos and raised concerns within the cryptocurrency community. The hacker managed to steal over $235 million from the exchange, and is now reportedly transferring around $10 million through sanctioned Tornado Cash in an attempt to launder the stolen funds. This highlights a glaring security
The situation surrounding Tigran Gambaryan, the detained American executive of Binance in Nigeria, is indeed concerning. The viral video of him struggling to walk into a courtroom and the subsequent denial of his request for a wheelchair by prison authorities highlight the inhumane conditions he is facing. It is evident that Gambaryan’s health has deteriorated
WazirX has initiated the second phase of its fiat currency withdrawal process earlier than anticipated, starting on September 3 instead of the original date of September 9. This move comes in the midst of the aftermath of a major security breach where over $230 million in user assets were stolen. CEO Nishal Shetty took to
In recent months, decentralized exchanges (DEX) have experienced a decline in spot trading volume, contrasting with the rise in volume seen by centralized exchanges. According to data from DefiLlama and The Block, DEX recorded $179 billion in spot trading volume last month, marking a 9% decrease from the previous month. On the other hand, centralized
The recent court appearance of Binance executive Tigran Gambaryan in Nigeria shed light on the ongoing legal battle he is facing. Gambaryan’s legal team made a fresh bail request on the grounds of his deteriorating health in prison. They cited several health issues, including a herniated disc, pneumonia, malaria, and tonsillitis, as reasons for the
OKX SG, a Singaporean entity of the crypto exchange OKX, recently obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license allows businesses to operate without transaction limits, making it a highly sought-after accreditation in the country. To qualify for the MPI license, companies must meet strict criteria, including
The recent $235 million hack at WazirX has raised concerns not only about the security of the exchange but also about its ownership structure. The ongoing dispute between WazirX and Binance, concerning an acquisition offer made in 2019, has led to significant confusion regarding who actually controls the exchange. Despite Binance’s former CEO claiming that
The former FTX executive, Ryan Salame, has decided to withdraw his petition to dismiss the indictment against Michelle Bond. The letter informing Judge Lewis A. Kaplan of the Southern District of New York of this decision was dated August 29. The withdrawal of the petition was done “without prejudice” to allow Bond to address the
