The recent report by The Wall Street Journal regarding Binance, the world’s largest crypto exchange, has brought to light some concerning issues within the industry. The article alleges that the head of Binance’s market surveillance team was fired after raising concerns about potential market manipulation by a high-profile client. This raises serious questions about the
Exchanges
Coincheck, a well-known Japanese cryptocurrency exchange, is gearing up to become one of the two publicly listed exchanges in the United States. The company has announced its intention to list on the Nasdaq through a partnership with a special purpose acquisition company (SPAC) called Thunder Bridge Capital Partners IV (THCP). Upon completion of the merger,
The recent detention of Tigran Gambaryan, a US citizen and the head of Binance’s financial crime compliance department, in Nigeria has sparked outrage within the cryptocurrency community. Binance CEO Richard Teng has publicly called for Gambaryan’s release, stating that the detention was unjust and set a dangerous precedent. According to Teng, inviting a company’s employees
The recent crackdown by the Securities and Exchange Commission (SEC) on crypto firms has led Bitwise Investments CIO Matt Hougan to suggest that the regulatory environment inadvertently benefits US crypto exchange Coinbase. According to Hougan, the current regulatory challenges create an “artificial moat” for Coinbase, giving the platform an edge over its competitors. He believes
In a recent development, six Coinbase customers have taken legal action against the cryptocurrency exchange Coinbase Global and its subsidiaries, Coinbase, Inc. and Coinbase Asset Management, LLC. The lawsuit also names CEO Brian Armstrong as a defendant. The core allegation made by the plaintiffs is that the digital assets listed on Coinbase should be classified
The recent guilty plea from Alexander Vinnik, the Russian national behind the infamous crypto exchange BTC-e, has shed light on the dark underbelly of the cryptocurrency world. Vinnik, now facing the possibility of a two-decade prison sentence in the US, was responsible for facilitating illicit activities on a massive scale through BTC-e. The exchange processed
Coinbase has reported an impressive revenue of $1.64 billion in the first quarter, surpassing the expected amount of $1.34 billion. This surge in revenue comes at a time when the crypto market is being greatly influenced by a strong Bitcoin rally. The company’s earnings per share stood at $4.40, showing a significant improvement from the
The recent saga involving former Binance CEO Changpeng Zhao sheds light on a crucial aspect of the crypto industry – compliance. In the wake of his sentencing for violating US compliance rules, Zhao emphasized the need for adherence to regulations in the industry. This signals a shift towards a new phase where compliance is considered
The former CEO and co-founder of Binance, Changpeng ‘CZ’ Zhao, recently submitted a letter of apology to the court on April 24. In the letter, Zhao expressed regret for his past decisions and admitted to accepting full responsibility for his actions. This admission of guilt comes after earlier criminal charges that Zhao pleaded guilty to
FTX creditors who have been impacted by the collapse of the defunct exchange have a unique opportunity to participate in the bankruptcy estate’s planned auction of its remaining Solana token holdings. This auction presents a chance for retail investors to get involved in the process with a minimum investment of $5000, a significantly lower barrier
