The South Korean Financial Services Commission (FSC) has initiated an investigation into Upbit, the country’s largest cryptocurrency exchange, reflecting growing concerns regarding its overwhelming market presence and implications for financial stability. This scrutiny, reported on October 10, was prompted by assertions from lawmaker Lee Kang-il, who expressed worries over the intricate relationship between Upbit and
Exchanges
In the complex landscape of cryptocurrency, one of the most significant events that shook the market was the 2016 hack of Bitfinex, which led to the theft of approximately 120,000 BTC. Recent developments from a US government filing indicate that Bitfinex may be recognized as the sole entity entitled to restitution regarding this massive cybercrime.
In 2023, centralized exchanges made headlines by delisting nearly 60 privacy tokens, a major spike compared to previous years. This trend, highlighted in a recent report from Kaiko, marks a significant shift in the landscape for cryptocurrencies like Monero (XMR), Dash (DASH), Decred (DCR), Mask (MASK), Rose (ROSE), and Zcash (ZEC). These developments underscore the
On October 7, Bitget exchange faced a significant crisis as its native BGB token suffered a dramatic plunge in value, dropping from $1.15 to $0.5344 within a mere span of ten minutes. This startling shift raised alarms among traders and investors relying on the asset’s stability. The plunge, noted to be approximately 56% in just
In a significant development within the cryptocurrency landscape, Gemini announced its decision to halt operations in Canada by December 31, 2024. This decision was communicated to customers via an email on September 30, indicating that all accounts would be closed, and users are advised to withdraw their assets within the next 90 days. Such a
In a move that has stirred considerable discussion in the cryptocurrency community, Kraken, one of the leading cryptocurrency exchanges, has announced its decision to cease support for Monero (XMR) in the European Economic Area (EEA). This decision, set to take effect on October 31, 2024, comes in response to evolving regulatory requirements in Europe. According
The cryptocurrency sphere is in a state of constant evolution, and Ethena Labs has recently set its sights on reinvigorating its popular synthetic dollar, USDe. On September 30, member Fells0x put forth an intriguing proposal for a decentralized exchange (DEX) named “Ethereal.” Under this proposal, the Ethena community seeks to introduce Ethereal V1, aiming to
Bithumb, one of South Korea’s foremost cryptocurrency exchanges, is positioning itself for a strategic leap into the global market with the announcement of its intention to pursue a public listing in the United States. This declaration was made during a shareholder meeting held on September 30, as reported by local media outlet Dnews. The exchange
The cryptocurrency world faced a staggering upheaval with the implosion of FTX, one of the largest exchanges in this relatively new financial landscape. Central to this debacle was Caroline Ellison, former CEO of Alameda Research and a pivotal figure in the scandal. Recently sentenced to two years in prison, Ellison is now emblematic of the
In the wake of a staggering $230 million hack, WazirX, one of India’s leading cryptocurrency exchanges, has been thrust into a chaotic battle for both asset recovery and user trust. The breach, which has sparked enormous concern among users and stakeholders alike, has necessitated urgent and strategic measures to stabilize the beleaguered exchange. The situation
