Coinbase, a leading cryptocurrency exchange, has recently achieved a significant milestone in its global expansion strategy by obtaining a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This highly sought-after license enables Coinbase to extend its payment services and digital token offerings to both individuals and institutions in Singapore. The approval
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The recent JPEX crypto scandal has sent shockwaves through Hong Kong, a global financial hub and gateway to China. This Dubai-based cryptocurrency exchange stands accused of defrauding thousands of investors, resulting in losses exceeding $160 million. This scandal has brought to light the regulatory loopholes and lack of investor protection in Hong Kong’s nascent crypto
In a recent statement, Gemini, the popular cryptocurrency exchange founded by the Winklevoss twins, responded to allegations made by the New York Post regarding the withdrawal of funds from the bankrupt lender Genesis. The report claimed that Tyler and Cameron Winklevoss secretly withdrew over $280 million from the lender, raising questions about whether these funds
BitMEX plans to sell up to $100 million worth of digital assets from its insurance fund. The fund reallocation process will occur over several weeks. The transactions involve assets such as Tether (USDT) and Ethereum (ETH). Crypto derivatives trading platform BitMEX has announced its intention to sell up to $100 million worth of digital assets,
Binance, one of the largest cryptocurrency exchanges in the world, recently announced the sale of its Russia business to CommEX, a newly launched crypto platform. The financial details of the deal have not been disclosed. However, Binance stated that it will no longer have any ongoing revenue split or the option to buy back shares
HTX global adviser Justin Sun recently announced the creation of a secure asset fund for users (SAFU) after the exchange experienced a $7.9 million exploit of its hot wallet on September 24. This fund serves as a safety net for investors, ensuring that they are reimbursed for any losses resulting from hacks or unforeseen incidents
Financial authorities in South Korea are taking steps to enforce strict eligibility reviews for major shareholders of cryptocurrency exchanges. This move aims to mirror the standards upheld within the banking sector and address the increasing legal turmoil surrounding prominent domestic exchanges like Bithumb and Upbit. The Financial Intelligence Unit (FIU) under the Financial Services Commission
South Korea’s leading cryptocurrency exchange, Upbit, recently found itself facing a major crisis after being targeted by fraudulent activities involving counterfeit tokens. As a result, the exchange was forced to suspend all withdrawals and deposits of Aptos’ native token, APT. This incident not only raised concerns about the security of digital asset exchanges but also
A recent lawsuit against law firm Fenwick & West has prompted the firm to defend itself against allegations of fraudulent activity in their representation of FTX. In a legal filing on September 22, Fenwick outlined several grounds on which it seeks to dismiss the class action suit. This article critically analyzes Fenwick’s defense in light
The crypto exchange Bybit has announced its decision to leave the UK market due to upcoming regulations set by the Financial Conduct Authority (FCA). This move reflects the exchange’s proactive approach to embracing regulatory changes. However, the sudden shift in Bybit’s stance contradicts its previous commitment to the UK market. This article will explore the
