WazirX, one of the prominent players in the cryptocurrency exchange arena, has encountered a significant roadblock as the Singapore High Court has unequivocally denied its restructuring proposal after a staggering $230 million hack in July 2024. The announcement on June 4 hit like a ton of bricks—not just for WazirX, but for the entire crypto
Exchanges
The financial landscape has begun shifting dramatically this year, particularly in the realm of cryptocurrency. Robinhood’s recent acquisition of Bitstamp, a respected player with over a decade in the industry, marks a pivotal moment that transcends mere numbers. As Robinhood steps into the global arena, it not only adds 50-plus licenses and four million customers
The recent announcement by IG Group to offer trading in 38 cryptocurrencies marks a pivotal moment in the evolving landscape of the U.K.’s financial markets. Starting June 3, retail investors will have access to a vast array of digital assets ranging from mainstream tokens like Bitcoin and Ether to newer, more speculative altcoins such as
The crypto landscape, historically characterized by its volatility, is about to undergo a significant transformation with the FTX Recovery Trust’s decision to disburse over $5 billion in stablecoins. This substantial liquidity injection is poised to reshape market dynamics and influence trading behavior dramatically. Unlike the complex financial instruments that often plague traditional markets, stablecoins offer
In a striking and somewhat unexpected legal move, the U.S. Securities and Exchange Commission (SEC) officially sought to dismiss its civil complaint against Binance and its founder, Changpeng Zhao, on May 29, throwing a wrench into the ongoing narrative of rigorous financial regulation. This decision, rather than merely a procedural formality, shines a spotlight on
As FTX attempts to claw its way back from the depths of its catastrophic collapse, the announcement of the second phase of repayments, facilitated by BitGo, almost gives the illusion of progress. While the move seems to signal hope for some creditors, it’s imperative to peel back the layers and scrutinize the actual significance of
The cryptocurrency landscape is rife with developments that either uplift or unsettle market players, and the recent advent of perpetual futures for Pi Network’s token (PI) on Kraken exemplifies this volatility. On May 23, Kraken announced the ability for traders to engage with PI using leverage of up to 20x. However, the excitement was short-lived;
In a surprising twist in the world of digital finance, Binance, the preeminent crypto exchange, has decided to list the USD1 stablecoin, brought to life by the Donald Trump family-affiliated World Liberty Financial (WLFI). This announcement has not only raised eyebrows but also ignited a variety of reactions within the crypto community. Advocates herald it
Coinbase, one of the most prominent names in the cryptocurrency space, finds itself in turbulent waters following a data breach that revealed sensitive information of nearly 70,000 users. This shocking breach has not only raised alarms within the cybersecurity community but has also triggered a whirlwind of regulatory scrutiny. The implications of this incident extend
The ongoing litigation between Binance and FTX has ascended to critical heights, with Binance seeking to have FTX’s colossal $1.76 billion lawsuit dismissed entirely. The crux of Binance’s argument outlines that not only are the claims presented by FTX riddled with unsupported allegations, but they also lack jurisdiction in a U.S. court. FTX has established