In a striking analysis released by Animoca Research, the performance of newly listed tokens on five major cryptocurrency exchanges from January to September 2023 has raised eyebrows across the crypto community. The findings revealed a sobering trend: a negative median performance rate ranging from 40% to 70% was observed among 773 tokens listed during this
Exchanges
On October 30, Kraken, one of the leading cryptocurrency exchanges, revealed a significant restructuring initiative intended to optimize its operations and re-establish its organizational focus. This announcement comes on the heels of a painful history of prior layoffs, which included a notable 30% workforce reduction just a year prior. These decisions are not merely business
As the dust settles on one of the most notorious financial collapses in modern history, Nishad Singh’s recent sentencing is a stark reminder of accountability within the cryptocurrency landscape. On October 30, 2023, Singh, the former engineering director of the defunct FTX exchange, received a sentence of time served and three years of supervised release.
The collapse of FTX, once a giant in the cryptocurrency exchange market, has sent shockwaves across the financial sector. Following its downward spiral, the company filed for Chapter 11 bankruptcy in November 2022, setting off a tumultuous recovery process aimed at refunding its creditors. The involvement of key figures from the FTX hierarchy has become
In a significant move to enhance the cryptocurrency trading experience, Visa has announced a partnership with Coinbase that promises to revolutionize how users fund their accounts. With this collaboration, Visa aims to introduce instant deposit capabilities for customers utilizing eligible debit cards—a game-changing service for crypto enthusiasts in both the United States and the European
In a significant development following its bankruptcy proceedings, FTX has arrived at a settlement valued at $228 million with Bybit, a cryptocurrency exchange, alongside its affiliates. This resolution emerges from a lawsuit initiated in November 2023, which sought the recovery of nearly $1 billion in assets that FTX claims were wrongfully withdrawn. The agreement allows
In a notable move towards decentralization, Kraken, the renowned cryptocurrency exchange, has announced the upcoming launch of Ink, a new Ethereum layer-2 network based on the Optimism Superchain. The announcement on October 24 outlined Ink’s mission to provide users with a platform where they can trade, borrow, and lend tokens without intermediaries. This initiative represents
In a move to promote transparency within the volatile world of cryptocurrency, Indian exchange WazirX has published a comprehensive proof-of-reserves (PoR) report. This announcement, made on October 25, revealed that a staggering 40% of customer assets are held in third-party exchanges, raising questions about asset security and accessibility. According to the report, as of October
In a shocking turn of events, over 33,000 cryptocurrency investors in South Korea are currently grappling with the inability to access their digital assets, which collectively account for approximately $13 million. This predicament has emerged in the wake of the closure of multiple cryptocurrency exchanges, significantly impacting the individual investors who depend on these platforms
In the high-stakes world of cryptocurrency, very few cases have garnered as much attention as that of former FTX executive Nishad Singh. Following the unraveling of FTX, Singh has positioned himself as a crucial figure in assisting federal prosecutors in their investigation. As demonstrated in a recent court filing dated October 23, the global repercussions
