The recent report published by The Wall Street Journal shed light on the controversy surrounding Binance, the world’s largest crypto exchange. It alleged that Binance’s head of market surveillance was fired after raising concerns about potential market manipulation by a high-profile client. The client in question, DWF Labs, had been engaging in suspicious trading activity,
Exchanges
Japanese exchange Coincheck has announced its intention to join Coinbase as one of the two publicly listed exchanges in the United States. The crypto trading platform is set to complete its listing on the Nasdaq via a partnership with special purpose acquisition company Thunder Bridge Capital Partners IV (THCP) by the second or third quarter
The Binance CEO, Richard Teng, recently made a plea for the release of Tigran Gambaryan, a high-ranking executive at the exchange who has been detained in Nigeria. Teng expressed his belief that Gambaryan’s detention was not only unjust but also set a dangerous precedent for companies operating globally. According to Teng, Nigeria’s decision to detain
In the rapidly evolving landscape of the crypto industry, regulatory oversight plays a crucial role in shaping the competitive dynamics among leading exchanges. Bitwise Investments CIO Matt Hougan recently shed light on how the current regulatory environment may inadvertently be benefiting US crypto exchange Coinbase. He suggested that the stringent regulatory requirements create an “artificial
Recently, six Coinbase customers took legal action against the popular cryptocurrency exchange, Coinbase Global, as well as its subsidiaries Coinbase, Inc. and Coinbase Asset Management, LLC. The lawsuit, filed on May 5, accuses Coinbase of listing digital assets that are considered securities. Among the tokens mentioned are Solana (SOL), Polygon (MATIC), Near Protocol (NEAR), Decentraland
Alexander Vinnik, a Russian national who was behind the operation of the crypto exchange BTC-e, recently pleaded guilty to charges of money laundering conspiracy in the US. BTC-e, once considered one of the largest crypto exchanges globally from 2011 to 2017, was found to have processed transactions worth a staggering $9 billion. According to prosecutors,
Coinbase, a leading cryptocurrency exchange, surprised investors by reporting revenues of $1.64 billion in the first quarter of the year, exceeding the expected amount of $1.34 billion. The company’s earnings per share also saw a significant improvement, standing at $4.40, far surpassing the average analyst estimate of $1.09. However, it is important to note that
In a surprising turn of events, former Binance CEO Changpeng Zhao emphasized the crucial importance of compliance in the crypto industry. This statement comes after Zhao was sentenced to four months in prison for violating US compliance regulations. Despite his legal troubles, Zhao acknowledged the significance of adhering to regulatory standards in the ever-evolving crypto
Changpeng ‘CZ’ Zhao, co-founder and former CEO of Binance, recently submitted a letter of apology to the court on April 24. This came after he pleaded guilty to criminal charges earlier this year. In the letter, Zhao expressed regret for his poor decisions and accepted full responsibility for his actions. He acknowledged that he should
The Kenyan authorities are preparing to extradite Nadeem Anjarwalla, a Binance executive who is being sought by the Nigerian government. Anjarwalla was captured in Kenya over the weekend after a joint operation involving various agencies such as the Economics and Financial Crimes Commission (EFCC), Nigeria Police Force, Kenya Police Service, Federal Bureau of Investigation (FBI),