On January 16, Coinbase revealed a strategic partnership with the money market platform Morpho, aiming to introduce an innovative financial service that allows users to secure USD Coin (USDC) loans using Bitcoin (BTC) as collateral. This move represents a significant stride in the decentralized finance (DeFi) sector, facilitating a more fluid integration between traditional financial
Exchanges
On October 9, 2024, a significant ruling was made regarding the infamous 2016 Bitfinex hack, during which approximately 120,000 Bitcoin (BTC) were stolen from the cryptocurrency exchange. The U.S. government decided to return 94,000 BTC, previously seized in connection with the case, back to Bitfinex. This marked a pivotal moment in the aftermath of one
On January 15, the U.S. Department of Justice (DOJ) announced that BitMEX and its parent company, HDR Global Trading Limited, were slapped with a substantial $100 million fine for breaching the Bank Secrecy Act (BSA). Following a protracted legal battle, the companies admitted to their transgressions in July 2024. Initially, the DOJ pursued penalties that
HashKey Group, a rising player in the digital asset landscape headquartered in Asia, recently announced it has achieved in-principle approval for a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). This approval, disclosed in a statement on January 13, signifies an important milestone in HashKey’s strategic maneuvering into the
As an emerging player in the realm of decentralized prediction markets, Polymarket has recently found itself at the center of significant controversy and scrutiny. Originally designed to allow users to place bets on various societal events, including political outcomes and other high-stakes scenarios, the platform has drawn ire for its recent foray into predicting consequences
The fallout from the collapse of the FTX exchange continues to reverberate through the cryptocurrency community. The most recent development involves the proposed sale of its European subsidiary, FTX EU, to a new platform called Backpack, established by former FTX employees. As the situation unfolds, questions about legitimacy, liability, and transparency have emerged, igniting significant
In a decisive move to tackle the rampant illegal cryptocurrency activities, Kazakhstan has ramped up its efforts in 2024 to close down unregulated crypto exchanges closely linked to money laundering. This initiative, spearheaded by the Financial Monitoring Agency (AFM), has led to the shutdown of 36 unauthorized exchanges, which collectively managed transactions exceeding $100 million.
The cryptocurrency market is undergoing significant transformations, particularly with the introduction of exchange-traded funds (ETFs) that cater to digital assets. A recent filing by Nasdaq to increase the options contract limit for the iShares Bitcoin Trust ETF (IBIT) has captured the attention of investors and analysts alike. The proposal aims to elevate the current cap
In a bold and highly strategic maneuver, Backpack Exchange, a crypto platform spearheaded by former executives of the now-defunct FTX, has made a significant inroad into the European market by acquiring FTX EU, the European branch of its predecessor. This acquisition has gained the green light from both the FTX bankruptcy court and the Cyprus
Recent revelations from Coinbase’s Chief Legal Officer, Paul Grewal, have thrown light on an ongoing struggle within the U.S. regulatory framework concerning cryptocurrency. On December 6, 2024, Grewal disclosed documents that indicated the Federal Deposit Insurance Corporation (FDIC) had encouraged banks to either pause or divert from offering any services related to cryptocurrencies, including basic
