The cryptocurrency landscape is often tumultuous, but WazirX’s recent predicament highlights an alarming vulnerability within the realm of digital exchanges. Creditors of WazirX are presently faced with a pivotal decision: to endorse a restructuring plan that may lead to potential compensation for their losses by April 2025 or to brace for a drawn-out liquidation that
Exchanges
The fall of FTX has indelibly marked the cryptocurrency landscape, leaving a wake of financial ruin and legal chaos. As the platform, once heralded as a titan within the digital asset realm, entered bankruptcy in late 2022, its subsequent unraveling has raised questions not just about the platform itself but about the broader implications for
Recent investigations by on-chain analyst ZachXBT have unveiled alarming statistics regarding the purloining of funds from Coinbase users, with annual losses exceeding $300 million attributed to social engineering scams. This issue predominantly affects a user base that has increasingly reported sudden account restrictions and security breaches over recent months. The significant volume of complaints coupled
Coinbase has officially secured registration as a Virtual Asset Service Provider (VASP) in the United Kingdom, marking a significant event in the realm of cryptocurrency regulation. On February 3, Faryar Shirzad, the Chief Policy Officer at Coinbase, made the announcement public via social media, highlighting the importance of this accomplishment. By achieving this status, Coinbase
The recent comments by Bybit CEO Ben Zhou shine a revealing light on the complexities surrounding liquidation data in the cryptocurrency market. While initial reports suggested that liquidations amounted to a mere $2 billion, Zhou argued that the figure could realistically range between $8 billion and $10 billion. This stark discrepancy highlights the urgent need
In an impressive display of growth, Kraken, one of the leading cryptocurrency exchanges, posted a staggering revenue of $1.5 billion in 2024, marking a remarkable 128% increase from the previous year. Such a leap in earnings underscores not only the platform’s rising prominence in the digital currency landscape but also its adeptness at navigating a
In a pivotal announcement, Kraken has unveiled its new onchain staking product specifically tailored for U.S. clients, indicating a substantial comeback of staking services in selected states after a prolonged period of regulatory challenges. With this launch, users across 37 states and two territories will have the opportunity to stake various digital assets, including prominent
In a significant move that has reverberated throughout the cryptocurrency landscape, Gemini, a prominent cryptocurrency exchange, has announced it will cease hiring graduates and interns from the Massachusetts Institute of Technology (MIT). This decision stems from MIT’s recent decision to welcome back former Securities and Exchange Commission (SEC) Chair Gary Gensler as a Professor of
On January 29, CME Group unveiled its plans to introduce a new financial instrument—options on Bitcoin (BTC) Friday futures. Scheduled to launch on February 24, these options mark a significant milestone as they represent CME’s first foray into financially settled crypto options products, pending regulatory approval. This move signifies an increasing shift in how crypto
The centralized cryptocurrency exchange market has shown dynamic shifts in 2024, with emerging players redefining competitive tiers against established giants. According to a recent CCData report, Crypto.com has managed to significantly increase its share of the market, while fellow industry leaders Binance and OKX witnessed declines. This overview not only inspects the numerical data but