The recent legal challenges faced by KuCoin with US authorities have had a significant impact on user assets on the platform. The exchange’s latest proof-of-reserve certificate revealed a noticeable decline in user holdings, with Bitcoin decreasing by 25.4%, Ethereum by approximately 22%, and Tether’s USDT by about 22%. This decline is further supported by data
Exchanges
In a recent interview with Fortune, Coinbase CFO Alesia Haas made a bold statement by asserting that Ethereum (ETH) should not be classified as a security. Haas highlighted the previous positions of both the SEC and the CFTC, emphasizing the lack of regulatory clarity surrounding cryptocurrencies in the US as the root of the classification
In recent days, KuCoin, a prominent cryptocurrency exchange, has faced a significant surge in withdrawal requests following the announcement of criminal charges by US authorities. Various on-chain analytics firms, such as DefiLlama, Nansen, and SpotOnChain, have reported a sharp increase in withdrawals across different categories of traders, including whales, funds, smart money, and market makers.
KuCoin CEO Johnny Lyu recently addressed the US criminal charges against the exchange, stating that they will not impact the platform’s operational stability. He reassured users that their funds are secure and that timely updates will be provided. The exchange’s official statement reiterated the safety of funds and mentioned that lawyers are investigating the allegations.
In a recent turn of events, Nadeem Anjarwalla, an executive of Binance who was detained by Nigerian authorities, has managed to escape custody. This development comes amidst a backdrop of tension between Nigeria and Binance, the leading cryptocurrency exchange with regards to alleged tax evasion and fraud charges. Nadeem Anjarwalla, who holds dual citizenship from
The recent EU anti-money laundering regulations have ignited a fierce debate about the delicate balance between combating financial crime and upholding citizens’ rights to privacy and economic freedom. Stakeholders from various sectors have expressed both criticism and support for these new laws. The article in question, which initially highlighted the illegality of anonymous crypto wallets
Crypto exchange Binance recently announced its decision to end support for Tron network-based USD Coin (USDC) stablecoins by April 5. This move came following the news that Circle, the company behind USDC, is pulling out of the Tron blockchain entirely. Users on the Binance platform now have less than two weeks to either withdraw their
Recently, members of the Solana community and the broader crypto ecosystem have expressed their dismay over the surge in inflammatory memecoins that have appeared on the Solana network. These memecoins have been found to contain racist, antisemitic, and anti-China language, sparking outrage among users and observers alike. Solana founder and CEO, Anatoly Yakovenko, unequivocally condemned
BlackRock, a renowned asset management firm, recently announced its selection of Coinbase as the key infrastructure provider for its tokenized investment fund, BlackRock USD Institutional Digital Liquidity Fund (BUIDL). The fund aims to maintain a stable value of $1 per token and distribute daily accrued dividends directly to investors’ wallets in the form of new
Recently, crypto exchange OKX made the decision to delist Tether (USDT) pairs in the EU, opting instead to support USDC and Euro-based stablecoin pairs. This move, as communicated to a customer on March 18, is said to be a response to the draft technical standards released by the EU that are set to take effect
