On October 31, 2024, M2, a cryptocurrency exchange based in the UAE, suffered a serious security breach leading to the loss of approximately $13.7 million in digital assets. The attack, reported in a statement released on November 1, occurred early in the morning at around 3:16 A.M. Despite the exchange’s team springing into action quickly,
Exchanges
Brian Armstrong, the CEO of Coinbase, has recently raised an urgent call for introspection within the U.S. Securities and Exchange Commission (SEC). His critique comes as the SEC finds itself under growing scrutiny for its handling of cryptocurrency regulation. Armstrong argues that the next SEC Chair should not only halt what he describes as “frivolous”
In a significant development for the cryptocurrency exchange landscape, Gemini has announced that it has received in-principle approval from the Monetary Authority of Singapore (MAS) to offer cross-border money transfer and digital payment token services. This endorsement arrives at a pivotal moment as Gemini, led by the Winklevoss twins, pursues its ambition to solidify its
In an ambitious move to redefine the user experience within the rapidly evolving cryptocurrency market, Binance, the world’s leading crypto exchange by trading volume, announced its collaboration with Amazon Web Services (AWS) on October 31. This strategic alliance aims to harness AWS’s advanced generative artificial intelligence tools and cloud services to enhance various aspects of
A recent study conducted by Animoca Research has brought to light troubling trends in token performance across five leading cryptocurrency exchanges. This analysis, which focuses on tokens listed between January and September, unveiled a stark reality: the median performance of these tokens varies significantly, with losses ranging from 40% to a staggering 70%. The data
The Optimism Foundation has entered into a significant partnership with Kraken, securing a $25 million agreement designed to integrate Kraken’s innovative new layer-2 (L2) blockchain known as Ink into the Superchain ecosystem. This investment is worth approximately $43 million at the current rate of Optimism’s native token, OP, which is priced at $1.72. This strategic
On October 30, 2023, cryptocurrency exchange Kraken made headlines with its announcement of significant layoffs as part of what they termed “organizational changes.” This decision coincided with the appointment of Arjun Sethi, co-founder of Tribe Capital, as the new co-CEO. The exchange’s management has expressed a clear intention to streamline operations and realign its focus
The narrative surrounding FTX, once a celebrated cryptocurrency exchange, paints a sobering picture of financial mishaps and legal entanglements. In the unfolding saga, Nishad Singh, a former engineering director at FTX, stands out as a critical figure whose cooperation could substantially impact the recovery process for creditors. John J. Ray III, the current CEO, has
The FTX scandal has emerged as a landmark case in the annals of modern finance, symbolizing one of the most extensive collapses in recent U.S. history. The ramifications of this event have reverberated far beyond its immediate financial consequences, highlighting the vulnerabilities present within the cryptocurrency industry. On October 30, 2023, a significant chapter in
Visa, a leader in traditional finance (TradFi), has recently announced a strategic partnership with cryptocurrency exchange Coinbase. This collaboration aims to revolutionize how users fund their Coinbase accounts, enabling instant deposits using eligible debit cards. The announcement made on October 29 highlights Visa’s commitment to enhancing user experience in the cryptocurrency realm, an area they
