The cryptocurrency landscape in the United States remains riddled with ambiguity and regulatory uncertainty. On October 18, Coinbase, a leading cryptocurrency exchange, advanced its pursuit of clarity by submitting two Freedom of Information Act (FOIA) requests directed at the Federal Deposit Insurance Corporation (FDIC). These filings come amidst ongoing tensions between the burgeoning crypto industry
Exchanges
The implosion of FTX, once heralded as a revolutionary cryptocurrency exchange, has left a wake of financial devastation felt by investors and stakeholders across the globe. At the heart of this scandal lies a cast of executives whose actions prompted legal scrutiny. One of them, Nishad Singh, a former executive, is now pleading for leniency
The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has become a focal point in discussions about cryptocurrency regulation. Recently, the SEC submitted a significant filing in their ongoing appeal, which has stirred discussions in the crypto community regarding its implications for not only Ripple but also the wider
In an exciting development for the cryptocurrency landscape, Kraken has unveiled its new wrapped Bitcoin offering, known as kBTC. Announced on October 17, this innovative product aims to capitalize on the burgeoning wrapped Bitcoin sector and presents a viable alternative amidst growing market competition. Unlike generic tokens, kBTC is designed to be a fully-backed ERC-20
Kraken, one of the leading cryptocurrency exchanges, has announced its collaboration with EigenLayer, enabling a unique opportunity for its users to engage in the restaking of Ethereum (ETH) directly through its platform. As detailed in an October 15 press release, this integration is poised to lower the barriers of entry for restaking, transitioning it from
In recent developments, Binance’s executive Tigran Gambaryan has found himself in a precarious legal situation following a decision by an Abuja High Court. On October 11, 2023, the court denied Gambaryan’s bail request, a ruling that has sparked disappointment not only from Binance but also from the global cryptocurrency community. The court’s reasoning pointed to
In a significant development for the cryptocurrency landscape, Arkham Intelligence is gearing up to launch its own crypto derivatives exchange next month, as reported by Bloomberg News on October 11. This announcement has triggered a remarkable 12% increase in the platform’s native token, ARKM, which has already been experiencing a notable uptrend amid the broader
The Financial Services Commission (FSC) of South Korea has announced an impending investigation into Upbit, the country’s leading cryptocurrency exchange. This development, unveiled on October 10, has accentuated the scrutiny surrounding Upbit’s prominent market positioning amidst rising concerns about the interconnectedness of digital assets and traditional banking practices. FSC Chairman Kim Byung-hwan’s commitment to examining
In 2016, the cryptocurrency exchange Bitfinex experienced one of the most significant hacks in digital currency history, resulting in the theft of approximately 120,000 bitcoins (BTC). For the industry, this breach not only highlighted vulnerabilities in security practices but also raised questions about accountability and restitution for affected parties. Recent filings from the U.S. government
On October 7, the cryptocurrency market experienced a shocking and rapid decline in the value of Bitget’s native BGB token, which plummeted from $1.15 to $0.5344 within a mere ten minutes. Such extreme volatility created immediate alarm among traders and investors. The event unfolded around 02:58 UTC, with the token’s value suffering a staggering 56%
