In a staggering development for the cryptocurrency world, Indian exchange WazirX has faced a critical legal blow as the Singapore High Court rejected its restructuring proposal following a $230 million hack in July 2024. This failure to secure court approval is not just a procedural bump; it represents a significant blow to WazirX’s credibility in
Exchanges
In a financial landscape increasingly dominated by cryptocurrencies, Robinhood’s recent acquisition of Bitstamp for $200 million marks a significant transition for the fintech giant. For a long time viewed primarily as a U.S.-centric platform, Robinhood is now poised to expand its influence globally, thanks to this strategic partnership with one of the oldest cryptocurrency exchanges.
The recent announcement from IG Group to allow retail investors in the United Kingdom to trade 38 cryptocurrencies marks a significant moment in the evolution of financial markets. While many celebrate this move as a step forward in democratizing access to digital assets, others question whether this bold stride effectively balances opportunity and risk. The
The launch of the FTX Recovery Trust to repay over $5 billion represents a crucial turning point for the cryptocurrency landscape. Not only is this the largest repayment initiative in the aftermath of one of the most significant collapses in the sector, but it also brings with it the promise of heightened liquidity that could
In a bold twist within the volatile world of cryptocurrency, the U.S. Securities and Exchange Commission (SEC) appears to be backing off its aggressive stance against Binance, led by its enigmatic founder Changpeng Zhao, often called ‘CZ’. On May 29, the SEC requested a federal judge to dismiss its civil complaint against Binance, a move
The recent unveiling of BitGo’s involvement in the second phase of FTX’s repayment endeavor is being hailed as a significant step towards the beleaguered exchange’s recovery. Yet beneath this surface of optimism lies a complex web of dissatisfaction among creditors. While Sunil Kavuri announced that user accounts would soon reflect credits, the reality is less
The recent announcement from Kraken regarding the introduction of perpetual futures contracts for the Pi Network’s native token, PI, sends ripples through the crypto space. This move, which allows traders to leverage their bets up to 20 times, raises significant red flags about the underlying sustainability of the asset. While the potential for tremendous gains
In a remarkable strategic pivot, Kraken is set to disrupt the trading landscape with its new xStocks product. This initiative allows users in certain countries outside the U.S. to trade tokenized versions of American stocks and ETFs around the clock. With major names such as Apple, Tesla, and Nvidia on the roster, this breakthrough offers
Coinbase, one of the leading cryptocurrency exchanges, has recently garnered significant criticism after confirming a data breach that has put the personal information of nearly 70,000 users at serious risk. This alarming news willfully challenges the industry’s narrative that digital assets and exchanges can safeguard sensitive customer information. The breach, which affected 69,461 individuals, raises
In the complex world of cryptocurrency, where regulations are often murky and jurisdictional boundaries blurred, the legal tussle between Binance and FTX has shed light on critical issues that may redefine how crypto exchanges operate globally. Binance’s motion to dismiss FTX’s hefty $1.76 billion lawsuit is not merely a defensive maneuver; it’s a crucial assertion