Jesse Powell, the founder of Kraken, made headlines recently with his $1 million donation, mainly in Ethereum, to support former President Donald Trump’s re-election bid. Powell stated that his donation aimed to help the US maintain its leadership in blockchain technology. He expressed his excitement to unite with other leaders in the crypto community to
Exchanges
FTX, a prominent cryptocurrency exchange, recently received approval from a US bankruptcy court to proceed with a liquidation plan that involves settling customer claims in cash. This decision has sparked controversy among customers who are dissatisfied with the proposed payment amounts based on crypto prices at the time of FTX’s collapse in November 2022. Despite
In a recent development, a federal judge in California expressed his inclination to allow the US Securities and Exchange Commission’s (SEC) lawsuit against Kraken to move forward. Judge William Orrick indicated that he was leaning towards denying Kraken’s request for dismissal, raising uncertainties about the exchange’s legal standing in the case. During the oral arguments
Binance, the leading cryptocurrency exchange globally, has been facing a series of regulatory challenges in various countries like India, Canada, and the United States. India’s Financial Intelligence Unit recently imposed a hefty fine of 188.2 million Indian Rupees, approximately $2.2 million, on Binance for failing to comply with the country’s Anti-Money Laundering (AML) regulations. The
In a recent turn of events, CertiK, a blockchain security firm, revealed that it had discovered a critical vulnerability in the deposit system of the popular crypto exchange, Kraken. This vulnerability could potentially lead to millions of dollars being deposited into any Kraken account, with fabricated crypto worth over $1 million being withdrawn and converted
A recent development in the legal battle involving Binance executive Nadeem Anjarwalla in Nigeria saw the federal high court dismissing the human rights lawsuit filed by him against the country’s National Security Adviser and the Economic and Financial Crimes Commission. The dismissal came on June 19, as Justice Inyang Ekwo noted Anjarwalla’s absence of legal
When it comes to traveling with cryptocurrency, one of the most crucial aspects to consider is the security of your digital wallet. It is essential to implement time-tested strategies to ensure that your funds are safe and accessible while on the move. Securing Internet Connections Accessing your crypto accounts while traveling requires you to prioritize
Recently, a rogue security research company managed to exploit a critical bug on the Kraken exchange platform, leading to the unauthorized withdrawal of $3 million in digital assets. Kraken’s Chief Security Officer, Nick Percoco, shared details of this incident, shedding light on how the breach occurred and the subsequent actions taken by the exchange. Flaw
Brazil’s Special Department of Federal Revenue is taking proactive measures to ensure that foreign crypto exchanges are complying with local regulations. The tax department will be collecting information from these exchanges to understand their operations, interactions with local service providers, and compliance with regulations introduced in 2019. Deputy Secretary of Inspection Andrea Chaves emphasized the
In the wake of the FTX collapse, a fierce legal battle has erupted over the millions of dollars in assets seized from Sam Bankman-Fried (SBF) and other former FTX executives. Parties are vying for control of these assets, which include airplanes, funds in various banks, shares of Robinhood stock, and even political contributions linked to
