Recent developments surrounding Binance, the high-profile cryptocurrency exchange, have cast a shadow over its operational integrity. A former senior executive, Amrita Srivastava, has come forward with allegations of retaliatory dismissal after raising serious concerns about bribery within the organization. This accusation raises poignant questions about corporate ethics and the consequences faced by individuals who dare
Exchanges
Celo, a notable player in the blockchain ecosystem, has recently found itself at the center of controversy following its intended migration to an Ethereum Layer-2 network within Optimism’s Superchain framework. Such a transition is critical for enhancing scalability and efficiency, but it has not been without its complications. The announcement from Coinbase, one of the
FTX and its affiliated debtors have made significant strides toward implementing their Chapter 11 Plan of Reorganization, which is projected to be operational by January 2025. This plan aims to establish structured distributions for creditors and customers affected by the firm’s tumultuous downfall. In an announcement detailing their progress, FTX outlined key milestones that will
In a significant development, South Korean authorities have recently succeeded in recovering 4.8 Bitcoin (BTC) linked to the massive 2019 hack of the Upbit cryptocurrency exchange. This operation was no small feat; it involved the theft of 342,000 Ethereum (ETH) by North Korean hackers, who have since become infamous for their cybercriminal exploits. Valued at
On November 19, Coinbase made a significant announcement: it would be discontinuing Wrapped Bitcoin (WBTC) trading pairs on both its exchange platform and its Prime services, effective December 19. This move has raised questions and concerns among cryptocurrency enthusiasts and investors alike. While Coinbase has not explicitly detailed the reasons why WBTC did not meet
In a bold move reminiscent of its strategy to dominate the cryptocurrency exchange landscape, Binance has introduced BFUSD—a yield-bearing stablecoin aimed at futures and perpetual contracts traders. Announced on November 18, this innovative financial product offers an enticing annual percentage yield (APY) of around 19.55%, making it particularly attractive for traders looking to maximize returns
In a significant shift towards embracing digital currencies, Donald Trump’s media enterprise, the Trump Media and Technology Group (TMTG), is reportedly in advanced talks to acquire Bakkt, a cryptocurrency trading platform owned by the Intercontinental Exchange (ICE). As reported by the Financial Times on November 18, this potential all-share deal reflects TMTG’s strategic aim to
Know-Your-Customer (KYC) regulations play a crucial role in the cryptocurrency landscape, serving as a fundamental element for compliance with anti-money laundering (AML) and counter-terrorism financing (CTF) laws. They require exchanges and financial institutions to verify the identities of their users, ensuring that accounts are linked to legitimate individuals. However, recent revelations regarding Upbit, South Korea’s
The cryptocurrency landscape has been marred by a significant breach involving the Indian exchange WazirX, amounting to an alarming $235 million. The Delhi Police, in a commendable effort to tackle this financial debacle, have arrested a suspect named SK Masud Alam from West Bengal. Reports indicate that Alam orchestrated a scheme using a fraudulent account
In a striking development following the recently concluded US elections, Binance, the world’s leading cryptocurrency exchange, reported an influx of over $7 billion in assets, a testament to its dominant position in the market. This influx follows the election victory of former President Donald Trump on November 5, which industry experts believe triggered heightened interest