On January 27, 2024, KuCoin, a prominent cryptocurrency exchange, reached a sobering settlement with the U.S. Department of Justice (DOJ), pleading guilty to operating without a licensed money-transmitting business. As part of this legal agreement, KuCoin is required to withdraw its services from the U.S. market for a period of two years and is liable
Exchanges
In recent years, the cryptocurrency landscape has been marked by a transformative explosion of growth and innovation. New tokens are being launched at an unprecedented rate, driven largely by advancements in blockchain technology. As a result, traditional methods of evaluating and listing these tokens have become increasingly inadequate. Brian Armstrong, CEO of Coinbase, has raised
In a recent update, Coinbase CEO Brian Armstrong announced that the popular cryptocurrency exchange has successfully addressed all pending transaction delays for Solana. This resolution was significant due to the rapidly growing frustration among users, stemming from slow transaction processing times that had plagued the platform. On January 22, Armstrong took to the social media
Recent discussions surrounding the CME Group indicate a potential introduction of futures contracts for two prominent cryptocurrencies: Solana (SOL) and XRP. This speculation was sparked by a social media post on January 22, where a user named Summers shared what appeared to be a screenshot of a testing page related to CME. The original information
Recently, Coinbase has found itself embroiled in a legal dispute with BiT Global regarding the delisting of Wrapped Bitcoin (wBTC). This situation escalated after BiT Global filed a lawsuit challenging the cryptocurrency exchange’s decision to remove wBTC from its platform. Following an earlier unsuccessful attempt to secure a legal injunction against the delisting, BiT Global’s
The landscape of global remittances is undergoing a significant transformation, largely fueled by the advent of cryptocurrency. A recent announcement from Binance, the leading exchange by trading volume, highlights a remarkable milestone: between 2022 and 2024, users of the platform engaged in a staggering $26 billion worth of peer-to-peer remittances. While this figure may presently
In a strategic collaboration announced on January 16, Coinbase has partnered with Morpho, a prominent money market, to facilitate an innovative on-chain lending service that allows users to obtain loans in USD Coin (USDC) backed by Bitcoin (BTC) collateral. This development highlights a significant step in Coinbase’s ongoing commitment to integrate traditional financial mechanisms into
In a landmark ruling, the United States government announced that it would return approximately 94,000 Bitcoin (BTC) seized from the infamous Bitfinex hacking incident of 2016 to the exchange itself. This decision is part of a broader in-kind restitution process, which underscores the ongoing examination of victimhood in cryptocurrency crimes. Notably, the ruling indicates that
In a significant stride towards enhancing its presence in the Middle East and North Africa (MENA) region, HashKey Group has announced that it has received in-principle approval for a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). This development, revealed in a statement on January 13, signals HashKey’s determination
The fallout from the collapse of FTX, once a titan in the cryptocurrency exchange arena, continues to unfold amidst a complex backdrop of bankruptcy proceedings and alleged mismanagement. FTX’s dire situation has not only shaken investors but has triggered extensive legal battles, with various entities navigating the murky waters of cryptocurrency regulation and asset recovery.
