Former FTX executive Ryan Salame is facing a complicated legal battle as he tries to void his guilty plea based on false promises from prosecutors. The US government has strongly opposed Salame’s attempt, calling his allegations demonstrably false. The charges against Salame’s partner, Michelle Bond, are distinct and ongoing, according to the US Attorney’s Office.
Exchanges
Indian cryptocurrency exchange WazirX has recently expressed concerns about external parties attempting to prolong its restructuring process for their own benefits. These parties, who are not invested in the platform, are said to be creating and maintaining uncertainty rather than seeking a resolution to the current situation. Following a major security breach on July 18
The US federal judge recently denied crypto exchange Kraken’s request to dismiss a lawsuit filed by the Securities and Exchange Commission (SEC). The SEC accused Kraken of operating an unregistered securities exchange, broker, dealer, and clearing agency, earning hundreds of millions of dollars illegally since 2018. The SEC argued that by not registering as a
Coinbase, the popular crypto exchange, recently made an announcement regarding its support for the Ethereum layer-2 network Polygon’s planned token upgrade from MATIC tokens to the new Polygon Ecosystem Token (POL). The exchange disclosed that it would commence the migration of the Polygon ticker from MATIC to POL starting on Aug. 26, with a promise
Binance, the biggest cryptocurrency exchange in terms of trading volume, recently disclosed that it was able to prevent more than $2.4 billion in potential user losses caused by scams and fraud in the first seven months of 2024. This represents a substantial amount of money that would have otherwise been at risk of being lost.
Following a recent $235 million hack, Indian crypto exchange WazirX has taken a significant step to safeguard its remaining assets. The exchange announced on Aug. 14 that it would be terminating its asset custody arrangement with Liminal and moving assets to new multi-signature wallets. This decision comes in response to the breach and aims to
The recent settlement of $1.76 million between Binance and the Brazilian securities regulator, Comissão de Valores Mobiliários (CVM), brings an end to a year-long investigation into the exchange’s activities in the country. The crackdown began in July 2020, when the CVM ordered Binance to cease its unauthorized derivatives trading activities in Brazil. Despite warnings and
Australia’s Securities and Investments Commission (ASIC) recently filed a lawsuit against the Australia Securities Exchange (ASX) Ltd., accusing it of making misleading statements regarding its blockchain trade settlement project. ASIC claims that ASX falsely stated that the project was on track for an April 2023 launch and was progressing when, in reality, it was not
In a recent development, a US appeals court has made a significant decision regarding a class-action lawsuit against Binance.US, the American arm of the global Binance exchange. The plaintiff, Ryan Cox, accused Binance.US and CoinMarketCap of manipulating the price of the Hex token. Cox alleged that HEX was the best-performing cryptocurrency in 2020 and that
Coinbase, a leading cryptocurrency exchange platform, recently submitted a comment letter to the US Securities and Exchange Commission (SEC) expressing strong opposition to the agency’s proposed expansion of the definition of “exchange” to include decentralized exchanges (DEXs). In the letter addressed to SEC Secretary Vanessa A. Countryman, Coinbase’s Chief Legal Officer Paul Grewal raised significant
