In a significant move that underscores the evolving relationship between cryptocurrency exchanges and regulatory bodies in South Korea, Dunamu, the parent company of Upbit, has initiated legal proceedings against the Financial Intelligence Unit (FIU). This lawsuit, filed with the Seoul Administrative Court, challenges the FIU’s decision to suspend business operations over alleged regulatory violations concerning
In recent weeks, the Securities and Exchange Commission (SEC) has come under fire for its controversial decision to dismiss several high-profile cases involving major cryptocurrency companies, such as Coinbase, Robinhood, and Gemini. The dissenting voice leading this criticism is SEC Commissioner Caroline Crenshaw, who has expressed profound concerns regarding the implications of these decisions for
Over the last week, the cryptocurrency market has experienced a pronounced downturn, causing the total market capitalization to dip below the critical figure of $2.8 trillion. Bitcoin (BTC) bears the brunt of this decline, showing a staggering 19% decline over the past seven days. Ethereum (ETH), its closest competitor, has fared even worse, with prices
On Friday, February 28, a significant expiration of Bitcoin options contracts is set to occur, with approximately 58,000 contracts valued at a staggering $4.7 billion. This expiry is particularly noteworthy, as it aligns with the end of the month, a predictable phenomenon that often leads to heightened market activity. However, despite the large volume of
The cryptocurrency sector has long been a playground for hackers, but the recent attack on Bybit—attributed to the notorious Lazarus Group—highlights an alarming escalation in cyber threats. With over $1.5 billion siphoned off from its cold wallets, the incident that transpired on February 21, 2023, not only represents a staggering loss but also showcases a
The rise and fall of Bitcoin have long captured the imaginations of investors, analysts, and the public alike. Recently, however, the narrative has shifted decidedly from optimism to skepticism as the cryptocurrency has come under intense selling pressure. This article examines the current state of Bitcoin, the potential ramifications of macroeconomic factors, and the overall
On February 27, 2023, the U.S. Securities and Exchange Commission (SEC) made a noteworthy declaration regarding memecoins, now asserting that these digital assets do not fall under the classification of securities as outlined by federal law. This pivot showcases a defining moment within the rapidly shifting cryptocurrency landscape, particularly as memecoins—often characterized by their humorous
In a notable turn of events for the cryptocurrency market, Cameron Winklevoss, co-founder of the Gemini cryptocurrency exchange, announced that the U.S. Securities and Exchange Commission (SEC) had concluded its investigation into the platform without pursuing enforcement actions. This decision arrives almost two years after the investigation was initiated and comes in the wake of
The recent Bybit hack has put the crypto community on high alert, especially after significant figures, including former Binance CEO Changpeng Zhao, voiced their concerns regarding the adequacy of the post-mortem update released by Safe Wallet. This incident highlights not only the vulnerabilities within digital wallet infrastructures but also raises questions about operational integrity among
The cryptocurrency market, particularly Bitcoin, is known for its extreme volatility, which can be significantly affected by external political and economic factors. A recent instance was marked by an abrupt drop in Bitcoin’s price below the $90,000 threshold, triggered by U.S. President Donald Trump’s announcement of proposed tariffs on Canada and Mexico. Tariff announcements are