In a shocking revelation, Hong Kong-based cryptocurrency exchange CoinEx announced that hackers managed to steal over $70 million worth of tokens due to compromised private keys. This devastating security breach has left the platform scrambling to regain control and seek ways to recover the lost funds. CoinEx representatives have provided further insight into their ongoing
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Bitcoin has experienced an upward trend since dropping below $25,000 in mid-September. The recent rally, reaching $27,435, showcased a 10% increase from the local low. However, despite this positive movement, there are mixed signals in the market that require caution and careful consideration. Glassnode’s Realized HODL Ratio (RHODL) serves as a crucial indicator for market
The ongoing legal battle between Binance, the world’s leading crypto exchange, and the U.S. Securities and Exchange Commission (SEC) has been filled with requests for extra documentation. Recently, the SEC criticized the quality of information provided by Binance and its U.S. arm, claiming that they had only submitted around 250 pages of evidence, some of
In a surprising turn of events, lawyer Mark Scott, responsible for laundering $400 million from the OneCoin fraud, has been denied a motion seeking a new trial. This decision comes despite the revelation that a prosecution witness perjured themselves during the original trial in 2019. 54-year-old lawyer Mark Scott argued that he had no knowledge
The Securities and Exchange Commission (SEC) has been closely monitoring the cryptocurrency industry, expressing concerns about its lack of regulation. This regulatory body considers many cryptocurrencies as securities, subjecting them to federal securities laws. While this has resulted in increased scrutiny and enforcement actions against unregistered securities offerings, it has also led to heated debates
The FinTech Festival Asia (FTF) 2023 is set to be an extraordinary event that will highlight the ever-evolving industry of FinTech and showcase groundbreaking innovations that will shape the financial landscape of tomorrow. This highly anticipated event will take place on September 27th and 28th at the prestigious Royal Paragon Hall in Bangkok, Thailand. The
The once-prominent cryptocurrency exchange, Binance.US, has experienced a significant decline in its weekly trade volume, dropping from nearly $5 billion to a mere $40 million, according to crypto data firm Kaiko. This precipitous decrease can be attributed in part to the legal troubles faced by the exchange, particularly the charges filed against it by the
The crypto market has experienced a significant decline in exchange-traded products (ETPs) over the past nine weeks, as reported by asset manager CoinShares. This downward trend reflects negative sentiment towards cryptocurrencies, impacting both Bitcoin (BTC) and Ethereum (ETH) funds. ETPs are designed to track crypto prices and serve as an accessible investment avenue for traditional
The New York State Department of Financial Services (NYDFS) has introduced a set of stringent requirements for virtual currency businesses operating in the state. These new regulations, announced on September 18, primarily focus on delistings of cryptocurrencies. Superintendent Adrienne Harris highlighted the need for such measures, stating that the NYDFS wants to provide entities with
Canadian fintech corporation, WonderFi, backed by billionaire Kevin O’Leary, recently announced a strategic partnership between Bitbuy and cryptocurrency ATM provider Localcoin ATM. This partnership aims to strengthen Localcoin’s crypto ATM offerings throughout Canada by leveraging Bitbuy’s exchange platform and its deep liquidity. WonderFi’s press release highlights that Bitbuy, the first cryptocurrency exchange to receive full
