In an impactful display of inter-exchange solidarity, Bybit successfully returned a 40,000 Ethereum (ETH) loan valued at approximately $99.98 million to Bitget following a significant $1.4 billion security breach. The events surrounding this incident highlight the importance of camaraderie in the volatile cryptocurrency landscape, where exchanges face security threats that can jeopardize their stability. According
Exchanges
In a decisive move to strengthen its response to Russia’s ongoing aggression in Ukraine, the European Union (EU) has expanded its sanctions framework with a particular focus on cryptocurrency. The EU’s 16th sanctions package, announced on February 24, targets Garantex, a cryptocurrency exchange based in Russia. This action signifies the first instance of the EU
Citadel Securities, a leading entity in financial trading, is reportedly gearing up for a significant dive into the cryptocurrency market, as revealed by Bloomberg News on February 24. This strategic initiative aims to enhance liquidity on prominent cryptocurrency exchanges like Coinbase, Binance, and Crypto.com. While discussions surrounding this expansion are generating buzz, it remains to
In the often-volatile landscape of cryptocurrency, exchanges frequently walk a tightrope between trust and turmoil. OX.FUN, a derivatives exchange linked to the infamous Three Arrows Capital founders Su Zhu and Kyle Davies, presently finds itself at the nexus of controversy. Emerging allegations of financial misconduct have not only sparked debates within the crypto community but
The recent cyberattack on the cryptocurrency exchange ByBit marks one of the largest hacks in the history of digital finance, with an estimated $1.5 billion worth of Ethereum (ETH) stolen. On February 21, the trading platform informed its users via social media that it had detected suspicious activities linked to one of its cold storage
The ongoing reverberations of the FTX bankruptcy are starkly felt among the global creditor community. Over a year after the sudden demise of one of the most high-profile cryptocurrency exchanges, many individuals in countries like Russia, China, Egypt, Nigeria, and Ukraine still find themselves in limbo. Sunil Kavuri, representing the FTX Creditors’ group, has brought
In 2024, Kraken has observed a notable uptick in data requests from law enforcement and regulatory agencies. According to the exchange’s recent transparency report, the volume of requests increased substantially, hitting 6,826, which marks a 38.6% year-on-year growth. This surge emphasizes an ongoing trend where authorities, particularly in the United States, are intensifying scrutiny on
In the dynamic landscape of cryptocurrencies, the rise and fall of memecoins has ignited discussions about ethical trading practices. Recently, Coinbase CEO Brian Armstrong took to social media to address concerns surrounding insider trading linked to these speculative digital assets. Armstrong’s warning serves as a critical reminder of the legal and ethical boundaries traders must
Binance.US has made headlines with its recent announcement to reinstate USD deposits and withdrawals for its clientele in the United States. This decision marks a pivotal moment for the exchange, which had struggled for several months while operating solely as a cryptocurrency platform. As of February 19, customers can now perform fee-free bank transfers (ACH),
In a bold move signaling its firm stance on tax compliance, Nigeria’s Federal Inland Revenue Service (FIRS) has initiated legal proceedings against Binance Holdings Limited. The FIRS is seeking an astonishing $81 billion—a figure that includes not only substantial claims for unpaid taxes but also hefty penalties that reflect the agency’s dissatisfaction with Binance’s operations
