The cryptocurrency market has experienced a seismic shift as Solana (SOL) has emerged to surpass both Bitcoin and Ethereum in terms of trading volume on major centralized exchanges. This unexpected turn of events has caught the attention of crypto traders and experts alike, signaling a potential shift in the dominance of these leading digital assets.
Exchanges
Coinbase, one of the largest cryptocurrency exchanges in the world, has recently announced its registration to provide cryptocurrency services in France. The company received approval from France’s Autorité des marchés financiers (AMF) to operate within the country. This registration, known as Prestataire de Services sur Actifs Numériques (PSAN), allows Coinbase to offer a range of
Former FTX CEO, Sam Bankman-Fried, has been denied his request for an adjourned sentencing hearing, as stated in a court filing on December 20. Bankman-Fried’s legal team had requested a four to six-week adjournment, which would have postponed the sentencing to May 2024. However, his current sentencing date still stands for March 28, 2024. Bankman-Fried’s
Bybit, a leading cryptocurrency exchange based in Dubai, recently released its proof-of-reserves (PoR) report, aiming to demonstrate the full backing of customer assets. The report covers an extensive range of 32 cryptocurrencies and highlights the exchange’s commitment to security and transparency. This article critically analyzes Bybit’s PoR report and examines the industry’s perspective on the
FTX Trading Ltd. recently announced a significant milestone in addressing the challenges that arose from the collapse of the FTX group in November 2022. The company’s Bahamas-based subsidiary, FTX Digital Markets, has reached a settlement, subject to approval from the U.S. Bankruptcy Court for the District of Delaware and the Supreme Court of The Bahamas.
The decentralized finance (DeFi) ecosystem is experiencing a major shift as Solana, a smart-contract-enabled blockchain, emerges as a formidable competitor to Ethereum. On December 16th, Solana’s trading volume on decentralized exchanges (DEX) briefly surpassed that of Ethereum for the first time. This milestone signifies the robust growth and widespread adoption of Solana’s DeFi ecosystem among
FTX Debtors recently filed an amended Chapter 11 reorganization plan, which has raised concerns among the creditors of the defunct crypto exchange. The plan proposes valuing the claims of the creditors based on crypto prices from November 11, 2022, the day FTX filed for bankruptcy. However, this approach could lead to significant losses for the
FTX, a defunct cryptocurrency exchange, recently filed an amended Chapter 11 reorganization plan that spells potential disaster for its creditors. The plan, unveiled on December 16th, proposes to evaluate the claims of the creditors using cryptocurrency prices from November 11, 2022. Unfortunately, this date coincides with a period of steep decline in the crypto market,
Gemini Earn users have recently been hit with disheartening news about the value of their crypto holdings. According to a reorganization plan proposed by defunct crypto lender Genesis, these users might only recover 61% of their pending Earn balance as of January 19, 2023. In this article, we will delve into the details of this
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) recently announced a settlement with cryptocurrency exchange CoinList on December 13th. The settlement came after CoinList processed 989 transactions amounting to $1.25 million from users residing in Crimea, a disputed region between Russia and Ukraine. This article analyses the details of the settlement and its implications,
