Recently, a US court has given Binance US the green light to invest a portion of its customer fiat funds, which are currently being held at BitGo, in US Treasury Bills. The exchange had requested permission to invest around $40 million in increments of $10 million over a span of four weeks. The investments will
Exchanges
The recent security breach at India-based crypto exchange WazirX has raised significant concerns in the cryptocurrency community. The breach, resulting in an estimated $235 million loss, has been the subject of intense scrutiny. Liminal, a multiparty computation (MPC) wallet provider, has released a post-mortem report shedding light on the incident and absolving its infrastructure of
The crypto exchange OKX recently announced its decision to select Malta as its Market in Crypto-Assets (MiCA) hub to cater to the 450 million residents of the European Union. By establishing its presence in Malta, OKX aims to provide services’ in compliance with local regulations while ensuring seamless deposit and withdrawal connectivity to local bank
In a recent report by blockchain security firm Cyvers Alert, it was revealed that the Indian exchange WazirX fell victim to an exploitation resulting in the loss of approximately $235 million. According to Cyvers, multiple suspicious transactions were detected involving WazirX’s Safe Multisig wallet on the ETH network, with a total of $234.9 million being
Recently, crypto exchange OKX made a significant announcement to its Nigerian clients, informing them that they have until Aug. 16 to close their positions as the platform would be ceasing operations in the African country due to local regulations. This decision has raised concerns among Nigerian crypto users and has sparked conversations on social media
Recently, Russia’s Ministry of Finance put forward a proposal that traditional exchanges should be allowed to handle digital asset trading for a specific group of investors. This proposal, outlined in response to two regulations, suggests the creation of special regulations for organized trading in digital currencies as commodities based on exchange or trading system licenses.
Judge Katherine Polk Failla recently criticized Coinbase’s attempts to subpoena SEC chair Gary Gensler in the SEC’s ongoing case against the firm. Failla expressed her concern over Coinbase’s request for Gensler’s statements before he became SEC chair in 2021, deeming the arguments put forth by Coinbase’s lawyer as “speculative” and lacking persuasiveness. Despite acknowledging Coinbase’s
In an effort to enhance security within the crypto sector, Kraken recently co-founded the Blockchain Security Standards Council (BSSC) alongside several other major industry players. The nonprofit organization, which includes companies like Anchorage Digital, Coinbase, and Fireblocks, aims to create uniform security standards across the crypto industry to address pressing security threats such as fraud,
The recent plea deal involving Paxful Inc. co-founder and former CTO Artur Schaback has shed light on the company’s failure to uphold an effective anti-money laundering (AML) program. According to the Department of Justice, Schaback’s negligence allowed criminal activities such as money laundering, fraud, romance scams, and prostitution to flourish unchecked on the platform. This
Olubukola Akinwumi, the deputy director of the Central Bank of Nigeria (CBN), recently made allegations against Binance, a popular cryptocurrency exchange platform. Akinwumi claimed that Binance was conducting transactions that should only be reserved for authorized banks and financial institutions, going against the rules set by the CBN. Akinwumi’s accusations were part of his testimony