In a significant turn of events, Coinbase has found itself embroiled in a legal dispute with BiT Global over the delisting of Wrapped Bitcoin (wBTC). This legal confrontation stems from BiT Global’s contention that removing wBTC from Coinbase’s platform could severely disrupt its operational capabilities. The exchange, however, argues that its decision is both justified
Exchanges
In recent years, the world of finance has undergone transformative changes as digital currencies gain traction. Among the leading players is Binance, the largest cryptocurrency exchange by trading volume. With its unique features aimed at facilitating peer-to-peer remittances, Binance has made a significant mark on the global remittance landscape. Between 2022 and 2024, users of
On January 16, Coinbase made headlines by aligning itself with Morpho, a money market platform, to launch an innovative service for borrowing USD Coin (USDC) using Bitcoin (BTC) as collateral. This strategic partnership signifies a key turning point in decentralized finance (DeFi) by introducing on-chain lending solutions that appeal to cryptocurrency enthusiasts and investors alike.
In 2016, the cryptocurrency platform Bitfinex experienced a catastrophic security breach that resulted in the theft of nearly 120,000 Bitcoin (BTC), leading to a significant loss for its users and raising questions about the safety protocols in place at cryptocurrency exchanges. This incident not only highlighted vulnerabilities in the digital currency landscape but also triggered
On January 15, the U.S. Department of Justice (DOJ) revealed that BitMEX, alongside its parent organization, HDR Global Trading Limited, has been penalized $100 million for breaches of the Bank Secrecy Act (BSA). Following a protracted legal battle, the firms accepted guilt for these infractions in July 2024. Initially eyed for penalties that exceeded $200
HashKey Group, a leading digital asset firm operating out of Asia, has taken a significant step toward its growth ambitions by securing in-principle approval for a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). Announced on January 13, this pivotal moment not only paves the way for HashKey’s entry
The rise of decentralized platforms has sparked significant interest and debate, yet few have gathered as much controversy as Polymarket. This decentralized prediction market has come under intense scrutiny over its recent decision to allow betting on tragic events, specifically the devastating wildfires in California. Regulatory bodies and the public are questioning the ethics of
The recent turmoil surrounding the FTX cryptocurrency exchange has intensified with its challenge to Backpack’s acquisition of FTX EU, a subsidiary that has been at the center of a swirling bankruptcy saga. In a statement released on January 8, FTX clarified its stance regarding the ownership and management of FTX Europe AG, which fully owns
In 2024, Kazakhstan has taken significant strides to curtail unauthorized cryptocurrency exchanges amidst rising concerns about their association with financial crimes. Central to this initiative is the Financial Monitoring Agency (AFM), which recently reported the closure of 36 unregulated platforms that processed a staggering $100 million in transactions. The AFM’s decisive actions underscore a strategic
In a significant move to diversify its financial services, Crypto.com has officially begun offering stock and exchange-traded fund (ETF) trading within its platform in the United States. Announced on January 3, this expansion is poised to transform the way users interact with both traditional and digital assets. By allowing users to manage their stock and