In an increasingly complicated cryptocurrency landscape, Coinbase, one of the leading exchanges, is embroiled in a legal confrontation with BiT Global over the delisting of Wrapped Bitcoin (wBTC). This situation highlights not only the tensions between crypto exchanges and their users but also raises significant questions regarding user security and corporate responsibility. Coinbase’s motion to
Exchanges
In an innovative stride within the cryptocurrency landscape, SwissBorg has made headlines by incorporating Avalanche into its Meta-Exchange (MEX). Announced on January 21, this integration marks a significant advancement in cross-chain trading capabilities. By allowing one-click transactions, SwissBorg aims to streamline the user experience and eliminate the traditionally cumbersome processes often associated with blockchain interactions.
In the evolving landscape of finance, cryptocurrency is carving out a significant niche, particularly in the realm of cross-border remittances. Binance, the world’s leading cryptocurrency exchange by trading volume, has reported striking figures regarding its users’ engagement with peer-to-peer remittances. Between 2022 and 2024, users reportedly facilitated $26 billion in transactions, resulting in an impressive
The ongoing tensions between cryptocurrency exchanges and regulatory bodies have reached a new chapter following the recent ruling by the US Court of Appeals for the Third Circuit regarding Coinbase and the Securities and Exchange Commission (SEC). This decision has highlighted the intricate challenges faced by both regulators and the nascent cryptocurrency industry as they
In the wake of a staggering cyberattack that cost WazirX, an Indian cryptocurrency exchange, an estimated $230 million in July 2024, the platform has made significant strides in its recovery efforts. Most recently, the exchange announced a notable achievement: the freezing of $3 million in Tether (USDT) tied to the stolen funds. This action, outlined
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
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
