The cryptocurrency exchange Binance is facing serious allegations from a former executive, Amrita Srivastava, who has claimed that she was wrongfully dismissed after exposing a bribery scheme within the company. The incident, as reported by Bloomberg News on November 28, highlights the ethical dilemmas and corporate governance failures that can plague even the most prominent
Exchanges
The blockchain landscape is in constant flux, exemplified by the recent developments surrounding Celo, a significant player in the Layer-1 blockchain sector. Following the announcement of its migration to an Ethereum Layer-2 network within the Optimism Superchain ecosystem, Celo faced a staggering 5% decline in its native token. This downturn is particularly concerning given the
In a striking development, Binance, recognized as the leading cryptocurrency exchange globally, has reported a remarkable surge in its user base, now exceeding 240 million. This information was unveiled in a statement on November 22, highlighting an impressive addition of 70 million users in just one year. To put this achievement into perspective, if Binance
Cboe Global Markets is poised to make a significant impact in the cryptocurrency trading landscape with its upcoming launch of cash-settled options linked to the spot price of Bitcoin (BTC), scheduled for December 2. This timely introduction comes on the heels of recent approvals from U.S. regulators for Bitcoin options, marking a pivotal moment for
The tumultuous saga of FTX, a cryptocurrency exchange that once stood at the forefront of the digital finance industry, continues as it inches toward a potential recovery. The company along with its affiliated debtors has announced a comprehensive timeline for its Chapter 11 Plan of Reorganization, projecting the beginning of distributions to creditors and affected
In November 2019, the South Korean cryptocurrency exchange Upbit fell victim to a catastrophic cyberattack, orchestrated by North Korean hackers. The breach involved the theft of a staggering 342,000 Ethereum (ETH), initially valued at approximately $41.4 million. Fast forward to today, these assets are now estimated to be worth over $1 billion, highlighting the volatile
In a significant strategic move, Coinbase has announced the removal of Wrapped Bitcoin (WBTC) trading pairs from its platforms, including Coinbase Prime, effective December 19. The decision, revealed in a statement on November 19, highlights Coinbase’s adherence to its listing standards, although the specifics of how WBTC failed to meet these criteria remain unclear. Nevertheless,
In a significant development within the cryptocurrency sphere, Binance has introduced BFUSD, a new yield-bearing stablecoin aimed at empowering futures and perpetual traders. Announced on November 18, this innovative financial instrument offers an impressive annual percentage yield (APY) of approximately 19.55%, creating a unique opportunity for traders looking to optimize their earnings without the typical
The announcement that Trump’s Media and Technology Group (TMTG) is in discussions to acquire Bakkt has sent ripples across both the media and cryptocurrency sectors. This potential acquisition, as reported by the Financial Times on November 18, marks a significant venture for TMTG, which aims to diversify its operations and make a bold entry into
In a significant development within the cryptocurrency sector, the South Korean government has exposed major Know-Your-Customer (KYC) violations on Upbit, the nation’s leading cryptocurrency exchange. The investigation, initiated by the Financial Intelligence Unit (FIU) of the Financial Services Commission (FSC) during a routine review of Upbit’s business license renewal on November 14, has revealed alarming
