In 2024, Binance has firmly established itself as the preeminent cryptocurrency exchange, boasting an impressive $21.6 billion in customer deposits. This staggering figure not only illustrates the platform’s robust presence but also highlights a monumental lead over its competitors. According to a report dated December 12, Binance surpassed the cumulative deposits of the next ten
Exchanges
On December 11, the Coincheck Group, known for its prominent crypto exchange in Japan, made headlines by officially launching its trading on the Nasdaq stock exchange. This noteworthy milestone comes on the heels of a merger with Thunder Bridge Capital, culminating in a deal finalized earlier this month. Notably, Thunder Bridge shareholders had greenlit the
In a move that illustrates the evolving landscape of cryptocurrency, Binance, the world’s leading crypto exchange, has entered into a strategic partnership with Circle, the issuer of USD Coin (USDC). This collaboration, announced on December 11, 2023, seeks to promote the broader adoption of USDC and integrate it into Binance’s services, setting the stage for
Coinbase, a leading player in the cryptocurrency exchange landscape, has unveiled Project Diamond, an initiative designed to cater specifically to institutional investors outside of the United States. This project marks a significant strategic pivot for Coinbase, aiming to create a robust environment for digital asset adoption among institutional entities. With a comprehensive suite of services
In a significant move anticipated to reshape its corporate banking capabilities, Singapore-based Crypto.com has announced a pivotal partnership with Deutsche Bank. Unveiled on December 10, this collaboration is set to streamline financial processes across critical markets, notably Singapore, Australia, and Hong Kong. By leveraging Deutsche Bank’s expertise in traditional banking and financial services, Crypto.com aims
Coinbase, one of the leading cryptocurrency exchanges, recently made headlines due to concerns regarding sudden account restrictions affecting numerous users. The company attributed these challenges to a notable increase in fraudulent activities that coincided with the US presidential election. In a post dated December 8 on the social platform X (formerly Twitter), Coinbase countered widespread
In a significant move towards reinforcing regulatory compliance in the crypto sector, the Coinbase-led Travel Rule Universal Solution Technology (TRUST) initiative has launched TRUSThub. As articulated in a recent statement, this new platform is engineered to facilitate effective data sharing among Virtual Asset Service Providers (VASPs), marking an essential step in addressing compliance challenges in
Woori Technology, a prominent venture capital firm in South Korea, stands at a crucial juncture as it contemplates divesting its stake in Dunamu, the parent company of Upbit, the largest cryptocurrency exchange in the region. Originally, Woori made a significant investment of 5.5 billion KRW back in 2015. Over eight years later, this investment has
On December 3, 2023, Brian Armstrong, the CEO of Coinbase, made a significant announcement regarding the company’s legal partnerships, directly addressing the contentious relationship between the cryptocurrency sector and regulatory authorities. Armstrong’s decision to cut ties with law firms employing former regulators was an assertion of the crypto industry’s growing frustration with what many perceive
The cryptocurrency exchange Coinbase, widely recognized as the largest in the United States, recently found itself embroiled in a significant controversy concerning its stance on the use of Virtual Private Networks (VPNs) by its users. A warning issued by Scott Shapiro, a product designer at Coinbase, on December 2, sparked widespread backlash from the crypto
