In recent days, rumors and speculations about the financial health of cryptocurrency exchange Huobi have circulated, leading to doubts about the platform’s stability and trustworthiness. The situation has been further exacerbated by claims that several Huobi exchange executives have been taken into custody by the Chinese police. These claims, however, have been denied by Justin
Exchanges
Cryptocurrency exchange Coinbase recently released its Q2 earnings report, revealing significant revenue despite facing overall losses. The report highlighted various financial figures, including revenue, net loss, adjusted earnings, and transaction revenue. Additionally, Coinbase discussed its market performance and future plans. In Q2, Coinbase reported a total revenue of $708 million, which experienced an 8% decline
The Australian Securities and Investments Commission (ASIC) has taken legal action against leading online trading platform eToro over alleged violations of financial regulations related to cryptocurrency derivative products. This lawsuit comes as a result of two-thirds of Contract For Difference (CFD) traders reportedly losing funds. The ASIC has accused eToro of contravening the design and
Recent reports have sparked a controversy surrounding Binance, one of the world’s largest cryptocurrency exchanges, and its alleged ties to China. The Wall Street Journal (WSJ) claimed that China accounted for a significant portion of Binance’s trading volume, but the exchange has vehemently denied this. In this article, we will analyze the conflicting statements and
Binance, a beleaguered cryptocurrency exchange, has recently made strides in expanding its reach in Japan. Its Japanese subsidiary, Binance Japan, has launched a new platform dedicated to onboarding new customers in the Asian country. This move comes as Binance faces increasing regulatory challenges from various jurisdictions, prompting its exit from several countries. In November 2022,
The Nigerian Securities and Exchange Commission (SEC) has once again warned that Binance’s operations within the country are illegal, as stated in their recent notice issued on July 28. In this notice, the regulator specifically addresses Binance’s official website, emphasizing that it is not registered or regulated by the Commission and therefore operating illegally in
Binance, one of the largest cryptocurrency exchanges in the world, has launched a legal defense against the charges filed by the U.S. Commodity Futures Trading Commission (CFTC). The exchange asserts that the regulator acted outside its jurisdiction and failed to establish personal jurisdiction over the defendants. In response, Binance has called for the dismissal of
In response to recent rumors, KuCoin, a prominent cryptocurrency exchange, has officially denied any plans for a mass layoff. The speculation originated from a report by Wu Blockchain, citing internal sources who claimed that KuCoin intended to reduce its workforce by 30%. The report suggested that the alleged job cuts were a consequence of declining
Binance France, a popular cryptocurrency exchange, recently released its audited financial records, revealing a loss of €4 million for a period of 14 months from November 2021 to December 2022. The total expenses incurred by the exchange during this timeframe amounted to €14 million, covering various aspects such as staff payroll, marketing, administrative costs, taxes,
In a surprising move, leading crypto exchange Binance has announced a reduction in employee benefits, effective from June 19. This decision comes as a response to the company’s declining profit margins, forcing them to make difficult cost-cutting choices. Binance has decided to withdraw mobile-phone and fitness reimbursements, as well as other staff-related bonuses. These measures,
