In recent months, the U.S. crypto industry has been facing heightened scrutiny from federal regulatory agencies, culminating in significant revelations regarding the Federal Deposit Insurance Corporation (FDIC). A recent disclosure by Coinbase’s legal chief, Paul Grewal, illuminated the agency’s pressure on financial institutions to minimize involvement with cryptocurrency services. This situation highlights the broader implications
Exchanges
Crypto.com, a leading player in the digital asset space, has taken significant strides to diversify its offerings in the United States by launching stock and exchange-traded fund (ETF) trading capabilities. This initiative marks a pivotal shift towards integrating traditional financial products within their platform, allowing users to manage both their cryptocurrency and stock portfolios seamlessly.
In a significant corporate turnaround, FTX and its associated debtors have set January 3, 2025, as the pivotal date for the implementation of their reorganization plan. This development marks a crucial milestone for the beleaguered cryptocurrency exchange, which overwhelmed by a catastrophic collapse in November 2022, left approximately nine million customers and investors reeling from
On December 31, 2023, Celsius Network took a significant step in its ongoing legal battle by filing a notice of appeal against U.S. District Judge John Dorsey’s recent ruling. Dorsey had dismissed Celsius’s ambitious $2 billion disparagement claim directed at the now-defunct cryptocurrency exchange FTX. This appeal shines a light on the intricate and often
On January 2, Binance, the preeminent cryptocurrency exchange by trading volume, announced that it has received regulatory approval from the Central Bank of Brazil to acquire Sim;paul, a local broker-dealer licensed to engage in financial activities. This approval marks a historic milestone, making Binance the first crypto exchange in Brazil to hold such a designation.
In a decisive move to protect investors and enforce compliance, Malaysia’s Securities Commission (SC) has ordered the crypto exchange Bybit and its CEO Ben Zhou to halt operations within the country. This directive stems from Bybit’s failure to attain the necessary authorization to function as a digital asset exchange (DAX) under Malaysian law. These actions
In a move signaling its commitment to enhancing user experience in the cryptocurrency landscape, Bitget Wallet has announced a transformative strategy targeting decentralized finance (DeFi) and financial applications (PayFi). Beginning January 2025, the platform will enable gas payments across various blockchains using its native BGB token as part of the innovative GetGas feature. This development
The recent refusal by U.S. authorities to entertain Sam Bankman-Fried’s appeal against his conviction has stirred considerable discussion within legal and financial circles. Bankman-Fried, the architect behind the now-collapsed cryptocurrency exchange FTX, was sentenced for his leadership role in a scandal that left countless customers deprived of their investments. Following a court ruling that analyzed
The Indian cryptocurrency exchange WazirX finds itself in a precarious position as it grapples with a renewed investigation ordered by the Delhi High Court on December 18. This inquiry emerges against a backdrop of serious allegations concerning previous hacking incidents and questionable financial practices. Notably, on the same day, Binance made a significant decision to
In an ever-evolving digital financial ecosystem, regulatory bodies play a crucial role in safeguarding investors’ interests. The recent lawsuit filed by the Australian Securities and Investment Commission (ASIC) against Oztures Trading Ltd, known for operating Binance Australia Derivatives, underscores this necessity. The lawsuit alleges serious lapses in customer protection, specifically misclassifying a significant portion of