On December 16, 2023, FTX, along with its affiliated debtors, unveiled their reorganization plan, which is set to take effect on January 3, 2025. This marks a critical moment in the recovery process for creditors impacted by the exchange’s notorious collapse in November 2022, which resulted from mismanagement and misuse of customer funds by its
Exchanges
The Celsius Network has embarked on a legal journey that continues to unfold, particularly following its decision to appeal a ruling made by Judge John Dorsey on December 31. This ruling dismissed Celsius’s ambitious $2 billion disparagement claim against the now-defunct cryptocurrency exchange, FTX. The heart of the matter lies in accusations that FTX’s executives
In an unprecedented move for the cryptocurrency landscape in Brazil, Binance has received regulatory approval from the Central Bank to acquire Sim;paul, a licensed broker-dealer. This landmark approval is significant not only for Binance but also for Brazil, as it positions the exchange as the first of its kind to hold a broker-dealer license in
In a decisive move, Malaysia’s Securities Commission (SC) has ordered the prominent cryptocurrency exchange Bybit, and its CEO Ben Zhou, to halt all activities within its jurisdiction. This intervention is not merely a regulatory fine-tuning but stems from significant compliance failures related to the country’s stringent digital asset regulations. Bybit’s inability to secure the necessary
As the cryptocurrency ecosystem continues to expand, the demand for seamless, efficient, and cost-effective transaction methods has never been more critical. In a recent announcement, Bitget Wallet has laid out its strategic plans to enhance transaction fluidity across multiple blockchains through its innovative GetGas feature, slated to launch in January 2025. This initiative reflects a
The downfall of FTX, once a thriving cryptocurrency exchange, sent shockwaves across the financial world, leading to the conviction of its founder, Sam Bankman-Fried. The billionaire’s spectacular rise and subsequent scandal encapsulated the volatility and risks inherent in the cryptocurrency landscape. FTX’s collapse not only exacerbated the cryptocurrency market’s instability but also left countless investors
WazirX, one of India’s leading cryptocurrency exchanges, finds itself in precarious waters following a recent directive from the Delhi High Court that calls for a renewed investigation into its operations. This situation escalated on December 18, the very day Binance, a major player in the crypto world, announced its decision to delist WazirX’s native token,
The Australian Securities and Investment Commission (ASIC) has taken significant action by initiating legal proceedings against Oztures Trading Ltd, the company behind Binance Australia Derivatives. The regulator’s core accusation centers on the misclassification of over 500 retail investors as wholesale clients, thereby undermining essential consumer protections. This misclassification, claimed ASIC, obviated the mandatory safeguards present
In the fast-paced and often tumultuous world of cryptocurrency, disputes often arise as market dynamics shift and regulatory scrutiny increases. A recent case has come to the forefront involving Coinbase, one of the largest cryptocurrency exchanges, and BiT Global, a company closely linked to wrapped Bitcoin (WBTC). The issue centers around Coinbase’s staunch refusal to
In a recent transparency report issued by Coinbase, a prominent cryptocurrency exchange, the company revealed a total of 10,707 requests from law enforcement and governmental entities across the globe within the last year. This figure represents an 18% decrease from the number recorded in the preceding year, suggesting a subtle shift in the dynamics between
