In July, WazirX, one of India’s leading cryptocurrency exchanges, fell victim to a staggering hack that resulted in the theft of approximately $230 million. This breach not only posed a significant financial setback for the platform but also compromised over 45% of its total reserves. The stolen assets were diverse, including a monumental $100 million
Exchanges
In a groundbreaking development, BNY Mellon has made significant strides towards establishing itself in the burgeoning crypto custody market, specifically targeting Bitcoin and Ethereum exchange-traded funds (ETFs). This maneuver follows the bank’s recent achievement in garnering an exemption from the Securities and Exchange Commission (SEC) related to the Staff Accounting Bulletin 121 (SAB 121). This
In a significant move to bolster its operations within Europe, Kraken has announced its acquisition of Coin Meester (BCM), one of the foremost registered cryptocurrency brokers in the Netherlands. This acquisition, revealed in a statement on September 24, is not merely a business transaction but a strategic initiative aimed at enhancing Kraken’s influence in the
Recently, BingX, a prominent cryptocurrency exchange, confirmed it faced a significant security breach resulting in a notable asset loss. On September 20, a report from Vivien Lin, the Chief Product Officer, disclosed that the exchange had detected unusual outflows from one of its hot wallets. The exact value of the assets compromised was still being
In recent months, the legal confrontation between the United States Securities and Exchange Commission (SEC) and crypto exchange Coinbase has garnered significant attention within both financial and regulatory environments. Initiated in June 2023, this lawsuit marks a pivotal moment in how digital assets are interpreted under U.S. securities law. The SEC accused Coinbase of operating
As the cryptocurrency market continues to evolve, the necessity for regulatory clarity has become increasingly evident. Daniel Gallagher, Robinhood’s Chief Legal Officer, recently voiced strong criticisms against the U.S. Securities and Exchange Commission (SEC) regarding its current regulatory framework for cryptocurrencies. In his testimony submitted for a September 18 hearing before the House Financial Services
In the rapidly evolving world of cryptocurrency, trust and accountability are paramount. Binance, one of the leading players in this space, has made headlines with its recent disavowal of any association with WazirX, an Indian cryptocurrency exchange facing significant scrutiny following a massive hack. This incident underscores the importance of transparency, as both companies navigate
The cryptocurrency landscape is marked by volatility and speculation, and rarely does a week go by without a controversial claim or rumor affecting the broader market. Recent allegations against Coinbase, one of the industry’s leading exchanges, have sparked debate among investors and analysts alike. These accusations, suggesting that Coinbase is misusing BlackRock’s funds and manipulating
Ryan Salame, once a prominent executive at FTX, now finds himself mired in a legal morass that has dramatically altered his trajectory from a forward-thinking finance professional to a figure ensnared in accusations of dishonesty. His September 12 hearing shed light on the complexities surrounding his guilty plea, wherein he admitted to lying about the
Recently, Binance’s subsidiary, Tokocrypto, announced that it had obtained a Physical Crypto Asset Trader (PFAK) license from Indonesia’s Commodity Futures Trading Regulatory Agency. This achievement has positioned Tokocrypto as just the third exchange in Indonesia to receive such a license, out of the 35 prospective crypto exchanges registered with Bappebti. Over the past year, Tokocrypto