The recent regulatory action taken by the US Federal Reserve against the crypto-friendly Customers Bank has raised concerns within the crypto industry. The Fed cited violations of the Bank Secrecy Act, Anti-Money Laundering laws, and Office of Foreign Assets Control regulations due to the bank’s involvement with digital assets. Customers Bank has been mandated to
Exchanges
Coinbase, one of the leading cryptocurrency exchanges, has raised objections to the US Commodities Futures Trading Commission’s (CFTC) proposal to regulate prediction markets. The Chief Legal Officer of Coinbase, Paul Grewal, criticized the proposal for its vague definition of “gaming” and its blanket statement that “gaming” contracts are against the public interest. According to Coinbase,
Recently, BTSE made a significant announcement regarding the launch of BTSE Dex 2.0, a new and improved version of their decentralized exchange. This latest iteration brings about cross-compatibility for Ethereum Virtual Machine-based chains, opening up trading opportunities for over 50 perpetual futures on various networks such as Base, Optimism, and Arbitrum. A key aspect of
In response to a $230 million attack on July 18, WazirX has taken the bold step of restoring user balances and reversing trades conducted between July 18 and July 21. This decision was made to ensure equitable treatment for all users affected by the incident. By rolling back trades to their pre-attack state, WazirX intends
The US Securities and Exchange Commission (SEC) has taken a firm stance against Coinbase’s motion to compel additional discovery in their ongoing legal battle. The SEC has argued that Coinbase’s requests for documents are not only irrelevant but also overly burdensome. In a memorandum filed on Aug. 5, the SEC made it clear that it
Binance CEO Richard Teng recently disclosed that the exchange experienced record inflows and one of its highest trading volumes this year. Amidst the macroeconomic climate and market downturn on August 5th, Binance saw a net inflow of $1.2 billion in the past 24 hours, according to DefiLlama’s CEX Transparency metrics. This surge in inflows is
Solana has seen a significant increase in decentralized exchange (DEX) volume, surpassing Ethereum in monthly transactions in July. With $55.8 billion in DEX transactions, Solana outpaced Ethereum’s $53.8 billion during the same period. This surge marks Solana’s second-highest monthly volume, with March 2024’s peak reaching $60.7 billion. The spike in Solana’s volume can be attributed
Recently, there have been allegations made against popular cryptocurrency exchange Coinbase regarding potential breaches of campaign finance laws. These allegations have caused quite a stir in the crypto community and raised questions about the platform’s integrity. Let’s delve deeper into the details and examine the situation critically. Crypto researcher Molly White raised concerns about Coinbase’s
The popular crypto exchange, Bybit, has announced that it will be ending its operations in France due to recent regulatory issues. The company cited new developments from the French regulator, which have made it difficult for Bybit to continue operating in the country. This move comes after the French Financial Market Authority (AMF) warned investors
Coinbase’s total revenue for the second quarter came in at $1.449 billion, surpassing the market consensus estimate. This figure represents a significant increase from the $674.1 million reported for the same period last year. The exchange also reported a net income of $36 million for the quarter, a stark contrast to the net loss of
