The cryptocurrency exchange industry in the US has seen a significant shift in market share dynamics in recent months. According to a report by research firm Kaiko, Coinbase, which once dominated over half of the market, has experienced a sharp decline. From a peak of almost 55% in March, Coinbase’s market share has dropped to
Exchanges
Recently, a federal judge rejected Coinbase’s motion to dismiss a proposed class action lawsuit by shareholders. The lawsuit alleges that the largest US crypto exchange downplayed the likelihood of being sued by the US Securities and Exchange Commission (SEC). The judge ruled that shareholders had adequately alleged that Coinbase and its top executives defrauded them
A recent hacking incident involving the Indian crypto exchange WazirX has raised concerns in the cryptocurrency community. The hacker managed to steal over $235 million worth of assets from the exchange, prompting a swift response from blockchain security firm Cyvers. In the past 24 hours, the hacker has already transferred around $10 million through sanctioned
Recently, WazirX embarked on the second phase of its fiat currency withdrawal process ahead of schedule, catching many users by surprise. The initial date for the process to commence was set for September 9th, but it began on September 3rd. This unexpected move comes in the aftermath of a significant security breach that resulted in
The recent video of Tigran Gambaryan, the American executive of Binance who has been detained by the Nigerian government since February, struggling to walk into a courtroom has sparked outrage. Binance CEO Richard Teng has strongly condemned the harsh treatment of Gambaryan, emphasizing that he deserves to be allowed to go home for medical treatment
In a recent announcement, it was revealed that OKX SG, the Singaporean entity of the crypto exchange OKX, has successfully obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license is highly coveted in Singapore as it grants businesses the ability to operate without daily or monthly transaction limits.
Ryan Salame, a former FTX executive, has recently opted to withdraw his petition to dismiss the indictment against Michelle Bond just before a crucial court hearing. This decision was communicated to Judge Lewis A. Kaplan of the Southern District of New York by Salame’s legal team in a letter dated Aug. 29. The withdrawal of
Recently, both Binance and Bybit have dropped hints about launching new products related to Solana. Binance’s official X account shared a mysterious message “BNSOL” along with “coming soon,” while Bybit introduced “bbSol” on its platform. These teasers have led to speculation within the crypto community that these exchanges might be gearing up to enter the
Recently, the crypto platform WazirX found itself in a precarious situation after a $234 million hack in July. As a result, WazirX has entered an initial 30-day moratorium pending a decision by Singapore’s High Court on whether to grant an extension. This move was made after a Singapore-incorporated company, Zettai Pte, filed for the moratorium
The recent attempt by former FTX executive Ryan Salame to void his guilty plea has sparked controversy, with the US government pushing back against his claims. Salame argues that his plea was based on false promises from prosecutors regarding the investigation into his partner, Michelle Bond. However, the US Attorney’s Office has labeled Salame’s allegations
