In the volatile realm of cryptocurrency, security has become an ever-pressing concern, as showcased by the recent incident involving M2, a UAE-based crypto exchange. On November 1, M2 publicly acknowledged a significant breach that drained a staggering $13.7 million from its digital vaults. According to their announcements, the breach occurred in the early hours of
Exchanges
In a significant move aimed at bolstering the blockchain landscape, the Optimism Foundation has finalized a $25 million deal with Kraken to welcome its newly launched layer-2 (L2) blockchain, Ink, into the burgeoning Superchain ecosystem. This partnership is estimated to be worth approximately $43 million based on the current valuation of OP tokens, which stand
In a significant move signaling its commitment to technological advancement, Binance, the leading cryptocurrency exchange, has announced its partnership with Amazon Web Services (AWS) to integrate advanced generative AI tools into its platform. This strategic initiative aims not only to refine user onboarding processes but also to bolster customer support and optimize internal systems for
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
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
