The cryptocurrency exchange FTX finds itself at a scrutinizing crossroads as it seeks to navigate the choppy waters of bankruptcy proceedings that began in November 2022. The recent settlement with rival exchange Bybit, amounting to a significant $228 million, symbolizes both a tactical maneuver and a necessary step in FTX’s larger strategy to recover assets
Exchanges
WazirX, one of India’s prominent cryptocurrency exchanges, has recently published a proof-of-reserves (PoR) report that raises significant questions regarding its operational transparency and security protocols. Released on October 25, the report reveals a rather alarming statistic: over 40% of the exchange’s customer assets are stored on third-party platforms. This revelation comes amid a broader climate
The downfall of the cryptocurrency exchange FTX sent shockwaves through the financial world, highlighting the vulnerabilities in both digital assets and regulatory oversight. As prominent figures within the company faced serious charges, the involvement of each entity began to unravel, revealing the intricacies of financial misconduct. Amid this chaos, former FTX executive Nishad Singh stepped
On October 24, Kraken, one of the leading cryptocurrency exchanges, made headlines with its announcement of Ink, a groundbreaking Ethereum layer-2 network built atop the Optimism Superchain. This initiative represents Kraken’s strategic pivot from its traditional centralized exchange framework towards a model that reinforces decentralization in trading, lending, and borrowing. The ambition behind Ink is
In February 2024, Tigran Gambaryan, a prominent Binance Holdings executive, found himself in a precarious situation after arriving in Nigeria. His visit, intended to foster relations with local government officials, turned into a nightmare. Gambaryan and his colleague, Nadeem Anjarwalla, were reportedly there to discuss concerns surrounding Binance’s impact on Nigeria’s foreign exchange stability. However,
The legal battle between Ripple Labs and the US Securities and Exchange Commission (SEC) continues to be a focal point for both the cryptocurrency market and regulatory discussions. As the situation unfolds, both parties are preparing for the next stages within their legal contest, particularly in light of the latest developments regarding the SEC’s pre-argument
The world of cryptocurrency has witnessed numerous high-profile dramas, none more alarming than the implosion of FTX. As the dust settles, the legal ramifications continue to unfold for those entwined in this financial debacle. One of the key figures in this saga, former FTX executive Nishad Singh, is now seeking leniency from a U.S. federal
In an increasingly competitive landscape for digital assets, Kraken has stepped up with an innovative offering: the wrapped Bitcoin token known as kBTC. Announced on October 17, this new ERC-20 token aims to bridge the gap between Bitcoin’s established reputation and the burgeoning decentralized finance (DeFi) sector. Positioned as a fully-backed digital asset, each kBTC
In a landmark development for cryptocurrency users, Kraken, a leading crypto exchange, has unveiled its integration with EigenLayer, a protocol designed to optimize the Ethereum staking experience. This partnership, which was officially announced on October 15, aims to democratize the practice of restaking Ethereum (ETH), making it more user-friendly and accessible. The heart of this
The recent denial of bail to Tigran Gambaryan, a high-ranking executive of cryptocurrency exchange Binance, highlights significant issues in Nigeria’s judicial system, particularly regarding how financial crimes are addressed. Gambaryan has been in custody since February due to serious allegations, including a staggering $35 million money laundering scheme. The situation became more complicated when the
