In the fast-paced world of cryptocurrency, social media is often a double-edged sword. Recent claims surfaced suggesting that Binance, one of the largest cryptocurrency exchanges globally, was offloading significant amounts of its Ethereum (ETH) and Solana (SOL) holdings. These allegations stirred a frenzy in the crypto community as influencers and commentators speculated on the potential
Exchanges
In a remarkable turn of events, Bybit has successfully repaid a loan of 40,000 Ethereum, approximately valued at $99.98 million, borrowed from Bitget following a significant security incident that rattled the crypto world. The repayment, which occurred on February 24, marks a pivotal moment for Bybit as it navigated a recent ordeal that left the
Citadel Securities, a prominent name in the trading sphere, is reportedly gearing up to penetrate the crypto market-making segment, according to a Bloomberg News report dated February 24. This initiative involves enhancing liquidity on significant cryptocurrency exchanges such as Coinbase, Binance, and Crypto.com. Industry insiders suggest that the company’s initial endeavors will target non-US markets,
The world of cryptocurrency can often seem like the Wild West of finance, with its vast opportunities shadowed by the ever-looming threat of scandals and misconduct. A recent incident involving OX.FUN, a crypto derivatives exchange, highlights the precarious nature of this industry. Linked to the infamous Three Arrows Capital co-founders, Su Zhu and Kyle Davies,
The recent cyber attack on ByBit, a prominent cryptocurrency exchange, has shaken the crypto community to its core. Approximately $1.5 billion, primarily in Ethereum (ETH), has fallen victim to this breach, marking it as one of the most significant hacks in cryptocurrency history. On February 21, ByBit took to social media to announce the discovery
The high-profile bankruptcy of FTX has left a multitude of creditors in limbo, particularly those situated in countries such as Russia, China, Egypt, Nigeria, and Ukraine. Sunil Kavuri, a spokesperson for the FTX Creditors’ group, recently highlighted the complexities surrounding the compensation process for these international creditors. The fact that substantial portions of FTX’s global
Kraken, the prominent cryptocurrency exchange, has recently reported an astronomical spike in data requests from law enforcement and regulatory bodies in 2024, as outlined in its latest transparency report. The figure of 6,826 requests marks a 38.6% increase from the previous year, raising crucial questions about the regulatory environment surrounding digital currencies. A substantial portion
In the wild and rapidly evolving world of cryptocurrency, where fortunes can shift within moments and market sentiments can be swayed by viral trends, the rise of memecoins has introduced both excitement and peril. Recently, Bitcoin’s flagship exchange, Coinbase, took a stance against unethical trading practices linked to these tokens, underscoring a significant issue—insider trading—that
In a groundbreaking move that could redefine the legal parameters for cryptocurrency exchanges operating internationally, Nigeria’s Federal Inland Revenue Service (FIRS) has lodged a monumental lawsuit against Binance Holdings Limited. The FIRS is demanding an astonishing sum exceeding $81 billion, encapsulating not only unpaid taxes but also extensive penalties. Local news sources like Nairametrics have
In recent months, with the rising popularity of digital currencies, cybercriminals have developed increasingly sophisticated methods to exploit unsuspecting investors. One such alarming tactic has come to light, known as the “share-seed-phrase” scam. Richard Teng, CEO of Binance, recently shared a stark warning to the crypto community regarding this insidious scheme. Scammers are not only
