In July 2023, WazirX, one of India’s prominent cryptocurrency exchanges, suffered a massive security breach that resulted in the theft of approximately $230 million. This event has not only raised alarms within the cryptocurrency community but has also highlighted vulnerabilities in the security measures of exchanges globally. Based on recent data from Arkham Intelligence, the
Exchanges
The rise of cryptocurrencies has been a global phenomenon, yet the pace and manner of this growth can vary widely from one nation to another. Among all nations, the United Arab Emirates (UAE) stands out as a notable outlier. The nuances of its crypto market, as highlighted in a recent report by Chainalysis, reflect a
In a pivotal moment for the financial sector, BNY Mellon is making notable strides towards establishing a foothold in the burgeoning crypto custody market. With a specific focus on Bitcoin and Ethereum exchange-traded funds (ETFs), the bank has successfully secured an exemption from the Securities and Exchange Commission (SEC) regarding its accounting practices. This exemption,
On September 24, Kraken, a prominent player in the cryptocurrency exchange arena, announced its acquisition of Coin Meester (BCM), a well-established crypto broker from the Netherlands. This acquisition is not merely a business expansion but a strategic maneuver to solidify Kraken’s standing in an increasingly competitive European market. By targeting foundational players like Coin Meester,
BingX, a prominent cryptocurrency exchange, has recently found itself embroiled in a security incident which has raised alarms not only among its users but throughout the cryptocurrency community. On September 20, the company acknowledged a “minor asset loss” prompted by suspicious outflows from one of its hot wallets. This revelation came from Chief Product Officer
The U.S. Securities and Exchange Commission (SEC) has recently sought a significant extension of four months to conclude the fact discovery phase in its contentious lawsuit against cryptocurrency exchange Coinbase. This request, made in a letter addressed to Judge Katherine Polk Failla on September 18, is an indication of the complexity and depth of the
In a recent testimony presented to the House Financial Services Subcommittee on Digital Assets, Daniel Gallagher, Chief Legal Officer of Robinhood, articulated a growing concern regarding the regulatory landscape for cryptocurrencies in the United States. Gallagher’s statements underscore the friction between the innovative potential of the digital asset sector and the current regulatory framework imposed
In a decisive move, Binance has publicly separated itself from the troubled Indian cryptocurrency exchange, WazirX, following a significant hack that led to the loss of $235 million in July. The incident sparked a wave of accusations, particularly aimed at Binance, which some believed was linked to WazirX’s operational failures. Binance’s response, issued on September
The world of cryptocurrency is often plagued by skepticism, rumors, and intense scrutiny, particularly surrounding the actions of major exchanges and asset managers. A recent wave of allegations regarding Coinbase, one of the largest cryptocurrency exchanges, has ignited a discussion about trust within the industry and the impact of institutional players on Bitcoin’s value. Eric
The case of Ryan Salame, a former executive at the now-defunct cryptocurrency exchange FTX, has taken a turbulent turn that raises unsettling questions about the integrity of the legal process. Salame’s recent admission of providing false testimony has not only jeopardized his prior guilty plea but also uncovered a murky landscape of potential consequences for
