Binance recently completed the conversion of its Secure Asset Fund for Users (SAFU) into Circle’s USD Coin (USDC) stablecoin, a move that has raised some eyebrows in the crypto community. By transferring 100% of SAFU’s assets to USDC, Binance claims to enhance the fund’s reliability and stability at $1 billion. While using a trusted, audited,
Exchanges
Recent analysis by crypto exchange Bybit has raised concerns about a potential shortage of Bitcoin on exchanges by the end of 2024 if demand continues at its current levels. The report suggests that reserves could be completely depleted within the next nine months, based on the current withdrawal rate of approximately 7000 BTC per day.
In a recent development, US Senators Elizabeth Warren and Charles Grassley have taken a proactive approach in demanding accountability from the Commodity Futures Trading Commission (CFTC). The senators have formally requested a detailed account of all interactions between CFTC Chair Rostin Behnam and now disgraced crypto mogul Sam Bankman-Fried (SBF). The primary aim of this
Coinbase, a prominent crypto exchange, recently received acknowledgment from the Financial Crimes Enforcement Network (FinCEN) for its substantial contributions to major criminal investigations. The recognition, conveyed through a letter to Coinbase CEO Brian Armstrong, highlighted the exchange’s role in supporting law enforcement efforts through its compliance and reporting practices. The acknowledgment from FinCEN comes at
