The Hong Kong-based crypto exchange BitForex has recently faced a sudden and unexpected shutdown, leaving users with their funds stuck on the platform. The suspension of both the website and trading application on Feb 23 has caused a stir in the crypto community, with concerns rising about the exchange’s credibility. Questionable Trading Volumes BitForex boasted
Exchanges
Kraken, a prominent cryptocurrency exchange, has been at odds with the US Securities and Exchange Commission (SEC) over allegations of operating unlawfully as an unregistered securities exchange. The SEC’s decision to sue Kraken following the firm’s advocacy for regulatory reform raises questions about the agency’s motives. By targeting Kraken for its political speech, the SEC
Bitcoin’s price has been a hot topic among enthusiasts, with the $52,000 mark being closely monitored. However, a closer look at Bitcoin’s liquidity reveals a more intricate picture beneath the surface. By analyzing data provided by Kaiko, it becomes apparent that the market’s stability relies on a delicate balance between buy and sell orders within
In response to the increasing scrutiny of global crypto regulations, Backpack Exchange, a crypto platform founded by former FTX executives, announced its expansion to 11 US states. This move signifies a strategic effort to establish a strong presence in the US market and comply with regulatory requirements. CEO Armani Ferrante expressed the company’s dedication to
The trend of declining exchange balances for Bitcoin has been evident since mid-March 2020, marking a significant shift in investor behavior. Initially, over 17% of Bitcoin’s total supply was held on exchanges, reaching a record high. However, this trend has continued through Bitcoin’s 2021 bull run and into 2024. According to CryptoSlate’s analysis of Glassnode
Coinbase’s non-US exchange achieved a significant milestone on February 20th as it saw over $1 billion in daily trading volume. This marks the first time that the exchange reached this impressive daily volume mark, indicating a strong and steady growth trajectory. Coinbase International Exchange reported that its perpetual futures trading alone surpassed $1 billion in
In a recent announcement, cryptocurrency exchange Binance revealed its plans to discontinue trading and subscription services for leveraged token offerings such as Bitcoin, Ethereum, and its BNB Coin, effective Feb. 28. The exchange stated that it would delist these tokens and halt redemption by April 3, affecting tokens like BTCUP, BTCDOWN, ETHUP, ETHDOWN, BNBUP, and
Recently, US prosecutors filed a sentencing memo requesting approval of the plea deal entered into by Binance and its former CEO, Changpeng Zhao (CZ). This deal, made in November 2023, involves Binance admitting guilt to charges related to money laundering and sanctions violations. As a result, Binance is required to pay a hefty $4.3 billion
In its latest financial report, cryptocurrency exchange Coinbase disclosed its net income and adjusted EBITDA for the fourth quarter and full year of 2023. For Q4 2023, Coinbase reported a net income of $273 million and an adjusted EBITDA of $305 million. Over the course of the entire year, it recorded a net income of
Coinbase, one of the largest cryptocurrency exchanges, has recently made headlines for lifting the freeze on Debt Box’s assets. This decision came after Coinbase discovered discrepancies in the Securities and Exchange Commission’s (SEC) representation of its case against the firm. The move sparked controversy and shed light on the SEC’s handling of the emerging crypto
