The recent conversion of Binance’s Secure Asset Fund for Users (SAFU) into Circle’s USD Coin (USDC) stablecoin marks a significant milestone for the cryptocurrency exchange. This move highlights Binance’s commitment to enhancing the security and stability of its assets, while also showcasing its dedication to regulatory compliance and transparency. Binance’s decision to transfer 100% of
Exchanges
Binance.US, a crypto platform under the umbrella of the global Binance exchange, has recently faced significant regulatory challenges. In an effort to address these issues and regain users’ trust, the platform has appointed Martin C. Grant to its Board. Grant, a former New York Federal Reserve Bank Compliance Chief, brings a wealth of experience in
The recent analysis conducted by crypto exchange Bybit has brought to light the looming possibility of a Bitcoin shortage on exchanges by the end of 2024. This prediction is based on the current rate of demand and withdrawal of Bitcoin reserves, which could lead to a complete depletion within the next nine months if the
Two US Senators, Elizabeth Warren and Charles Grassley, have formally requested a detailed accounting of all interactions between the Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam and the disgraced crypto mogul, Sam Bankman-Fried (SBF). The formal request, made in an April 12 letter, aims to shed light on potential regulatory failures following Bankman-Fried’s recent
The Financial Crimes Enforcement Network (FinCEN) acknowledged the renowned crypto exchange Coinbase for its vital role in major criminal investigations. In a letter to Coinbase CEO Brian Armstrong, FinCEN emphasized the exchange’s assistance to law enforcement through its compliance and reporting practices. This recognition comes at a time when the exchange is facing an SEC
The trading activity on the Uniswap decentralized exchange saw a significant drop of nearly 10% in just one day following the issuance of a Wells notice by the US Securities and Exchange Commission (SEC) to Uniswap Labs, the organization behind the platform. Data from DeFillama revealed that Uniswap had facilitated trades totaling $2.7 billion across
Bitget, a cryptocurrency exchange registered in Seychelles, is making waves in the world of cryptocurrency trading. Founded in 2018, Bitget has grown to become the largest crypto copy trading platform globally, serving over 25 million users and facilitating a trading volume exceeding $10 billion USDT daily. The platform’s success can be attributed to its commitment
Recently, a Nigerian High Court in Abuja made the decision to have Tigran Gambaryan, a US citizen and Binance executive, detained in prison. This ruling came just after the postponement of his bail hearing, in which he pleaded not guilty to money laundering charges. Gambaryan’s bail hearing has been rescheduled for April 18, and the
The decision by the bankrupt crypto exchange FTX to sell its Solana holdings at a significant discount to crypto venture firms has been met with strong disapproval from creditors. Reports have surfaced revealing that FTX sold as much as 30 million SOL at a rate of $64 each to VC firms like Pantera Capital and
The recent court hearing for Binance in Nigeria on April 4 highlighted a glaring issue – the absence of legal representation for the cryptocurrency exchange. Instead of having legal counsel present, only the compliance chief, Tigran Gambaryan, attended the hearing. This lack of legal representation could potentially have serious consequences for Binance as they navigate
