In a recent announcement, Ben Zhou, the CEO of Bybit, has raised eyebrows by contesting the reported figures surrounding crypto market liquidations. While mainstream reports have suggested that liquidations reached a modest $2 billion, Zhou argues that the actual numbers could rest between an alarming $8 billion and $10 billion. As the head of a
Exchanges
In a stunning display of growth, Kraken has reported a monumental doubling of its revenue in 2024, reaching $1.5 billion, which marks a staggering 128% increase compared to the previous year. This impressive financial performance underscores the platform’s robust market position and highlights the rising demand for cryptocurrency trading services. The financial data also reveals
In an encouraging development for cryptocurrency enthusiasts in the United States, Kraken has announced the launch of a new onchain staking product. This initiative allows U.S. clients in 37 states and two territories to participate in staking digital assets like Ethereum (ETH), Solana (SOL), Polkadot (DOT), and Cardano (ADA). The launch, as detailed in their
In a bold and contentious move, Gemini, one of the leading cryptocurrency exchanges in the United States, has announced its decision to cease hiring graduates and interns from the Massachusetts Institute of Technology (MIT). This resolution stems from the university’s recent reappointment of Gary Gensler, the former Chair of the U.S. Securities and Exchange Commission
In the rapidly evolving world of cryptocurrency, 2024 has marked significant changes in market dynamics, particularly impacting the centralized exchanges. A startling report from CCData reveals that Crypto.com has made impressive strides in this sector while established players like Binance and OKX have seen their market shares dwindle. This transformative year highlights not only the
In a significant move towards regulatory compliance, Crypto.com has announced its decision to delist Tether’s USDT stablecoin from its platform by January 31. This decision arises from the exchange’s ongoing efforts to adhere to the Markets in Crypto-Assets (MiCA) regulation, a framework designed to impose rigorous standards on cryptocurrency businesses operating within the European Economic
Coinbase’s recent approval to enter the Argentine cryptocurrency market marks a significant milestone in the ongoing evolution of digital finance in the region. With its registration as a Virtual Asset Service Provider (VASP) with Argentina’s National Securities Commission (CNV), Coinbase is poised to capitalize on the burgeoning demand for cryptocurrency in the country. This regulatory
In a significant turn of events for the cryptocurrency exchange sector, KuCoin entered a guilty plea to charges regarding the operation of an unlicensed money-transmitting business, marking a major settlement with the U.S. Department of Justice (DOJ) on January 27. The company, which caters to a broad audience that includes approximately 1.5 million users in
The cryptocurrency sector is experiencing an unprecedented surge, characterized by rapid innovation and an overwhelming influx of new digital assets. Recently, Brian Armstrong, the CEO of Coinbase, made a clarion call for an overhaul in how tokens are listed, underscoring the limitations of traditional asset evaluation mechanisms in the face of this explosive growth. This
In a recent announcement that echoes the concerns of many users, Coinbase CEO Brian Armstrong addressed ongoing frustrations regarding transaction delays experienced on the Solana blockchain. With a commitment to improving service quality, Armstrong indicated that the issues causing slow processing times for Solana transactions have been resolved. This comes after significant user complaints and