On October 30, 2023, cryptocurrency exchange Kraken made headlines with its announcement of significant layoffs as part of what they termed “organizational changes.” This decision coincided with the appointment of Arjun Sethi, co-founder of Tribe Capital, as the new co-CEO. The exchange’s management has expressed a clear intention to streamline operations and realign its focus
Exchanges
The narrative surrounding FTX, once a celebrated cryptocurrency exchange, paints a sobering picture of financial mishaps and legal entanglements. In the unfolding saga, Nishad Singh, a former engineering director at FTX, stands out as a critical figure whose cooperation could substantially impact the recovery process for creditors. John J. Ray III, the current CEO, has
The FTX scandal has emerged as a landmark case in the annals of modern finance, symbolizing one of the most extensive collapses in recent U.S. history. The ramifications of this event have reverberated far beyond its immediate financial consequences, highlighting the vulnerabilities present within the cryptocurrency industry. On October 30, 2023, a significant chapter in
Visa, a leader in traditional finance (TradFi), has recently announced a strategic partnership with cryptocurrency exchange Coinbase. This collaboration aims to revolutionize how users fund their Coinbase accounts, enabling instant deposits using eligible debit cards. The announcement made on October 29 highlights Visa’s commitment to enhancing user experience in the cryptocurrency realm, an area they
The cryptocurrency exchange FTX finds itself at a scrutinizing crossroads as it seeks to navigate the choppy waters of bankruptcy proceedings that began in November 2022. The recent settlement with rival exchange Bybit, amounting to a significant $228 million, symbolizes both a tactical maneuver and a necessary step in FTX’s larger strategy to recover assets
WazirX, one of India’s prominent cryptocurrency exchanges, has recently published a proof-of-reserves (PoR) report that raises significant questions regarding its operational transparency and security protocols. Released on October 25, the report reveals a rather alarming statistic: over 40% of the exchange’s customer assets are stored on third-party platforms. This revelation comes amid a broader climate
The downfall of the cryptocurrency exchange FTX sent shockwaves through the financial world, highlighting the vulnerabilities in both digital assets and regulatory oversight. As prominent figures within the company faced serious charges, the involvement of each entity began to unravel, revealing the intricacies of financial misconduct. Amid this chaos, former FTX executive Nishad Singh stepped
On October 24, Kraken, one of the leading cryptocurrency exchanges, made headlines with its announcement of Ink, a groundbreaking Ethereum layer-2 network built atop the Optimism Superchain. This initiative represents Kraken’s strategic pivot from its traditional centralized exchange framework towards a model that reinforces decentralization in trading, lending, and borrowing. The ambition behind Ink is
In February 2024, Tigran Gambaryan, a prominent Binance Holdings executive, found himself in a precarious situation after arriving in Nigeria. His visit, intended to foster relations with local government officials, turned into a nightmare. Gambaryan and his colleague, Nadeem Anjarwalla, were reportedly there to discuss concerns surrounding Binance’s impact on Nigeria’s foreign exchange stability. However,
The legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) continues to be a focal point for both the cryptocurrency market and regulatory discussions. As the situation unfolds, both parties are preparing for the next stages within their legal contest, particularly in light of the latest developments regarding the SEC’s pre-argument
