Federal prosecutors are seeking a hefty prison sentence of 40 to 50 years for FTX founder, Sam Bankman-Fried (SBF), who has been convicted of orchestrating a massive financial fraud scheme worth over $8 billion. The sentencing memorandum filed by the US Attorney’s Office for the Southern District of New York sheds light on SBF’s extensive
Exchanges
The Securities and Futures Commission (SFC) of Hong Kong recently issued a public warning about MEXC’s unlicensed operations within its jurisdictions. The SFC highlighted that MEXC, a virtual asset trading platform, has been targeting Hong Kong investors without the necessary license. This has led to MEXC being added to Hong Kong’s list of suspicious virtual
Binance recently made a statement regarding its operations in Nigeria, stating that the country is not one of its top markets. This comes in the midst of a conflict with local authorities over allegations of manipulating the local fiat currency. The dispute escalated to the point where two senior executives from the exchange were detained.
Crypto.com, a prominent crypto trading platform, has recently faced a hefty fine of €2.85 million from the Netherlands Central Bank for operating within the European country without proper registration for two years. The Dutch regulations stipulate that crypto firms must register with De Nederlandsche Bank (DNB) under the Anti-money Laundering and Anti-Terrorist Financing Act to
In a bold strategic move, Coinbase has announced plans to launch a $1 billion bond offering to fuel its growth and expansion. The bonds, which are designated as unsecured convertible senior notes, are set to mature in 2030, giving investors the option to convert their holdings into Coinbase shares or cash at that time. This
The Nigerian government recently made headlines by obtaining a court warrant to detain Binance officials for a minimum of twelve days. This move came after the officials insisted on being taken to their respective countries’ embassies, further escalating the situation. The government’s accusations against Binance include aggravating the country’s foreign exchange challenges by manipulating rates
The relationship between Coinbase and the Securities and Exchange Commission (SEC) has hit a roadblock, with Coinbase strongly criticizing the SEC’s rejection of its rulemaking petition as “arbitrary and capricious.” This critique was put forth in a petition filed by Coinbase before the US Court of Appeals for the Third Circuit on Mar. 11. The
Coinbase, a prominent US-based cryptocurrency exchange, has experienced a substantial increase in its market share recently. This growth can be attributed to the launch of multiple spot Bitcoin exchange-traded funds (ETFs) in January. As a result of this surge, analysts at Goldman Sachs have decided to upgrade their rating on Coinbase shares from selling to
The cryptocurrency market experienced a surge in trading volume as Bitcoin reached an all-time high in November 2021, breaking through $69,000. However, this achievement was short-lived as Bitcoin quickly corrected by 14%, dropping its price to $59,300. Despite regaining some lost ground the next day, Bitcoin struggled to stabilize at $66,000, showcasing the market’s intense
Binance, a major cryptocurrency exchange platform, has recently announced the discontinuation of all services related to the Nigerian local fiat currency, Naira (NGN). This decision will have a significant impact on Nigerian users, as they will no longer be able to access services such as deposits, withdrawals, conversions, spot trading, P2P, Auto-invest, and Binance Pay.
