A Nigerian court recently postponed the decision on the bail application for detained Binance executive Tigran Gambaryan until October 9. This decision came after arguments were presented by Gambaryan’s lawyer, Mark Mordi, and the prosecuting counsel, Ekele Iheanacho, who opposed the bail request. The application for bail was submitted on September 2, citing medical reasons
Exchanges
In light of recent security breaches in the cryptocurrency world, the role of third-party audits in verifying the security of platforms has come to the forefront. Grant Thornton, a leading global auditor, recently conducted a comprehensive review of Liminal’s infrastructure following a hack on WazirX. The results of the audit provided valuable insights into the
In recent months, Coinbase has experienced a sharp decline in market share according to a report by research firm Kaiko. Earlier this year, Coinbase dominated more than half of the US crypto market share, reaching almost 55% in March. However, as of early September, its market share has dropped to 41%, down from 53% in
Recently, a federal judge made a significant ruling in a proposed class action lawsuit against Coinbase, the largest US crypto exchange. The lawsuit alleges that Coinbase misled shareholders about the likelihood of being sued by the US Securities and Exchange Commission (SEC). This ruling by US District Judge Brian Martinotti on Sept. 5 allowed shareholders
The recent security breach at the Indian crypto exchange WazirX has raised concerns in the industry. The hacker responsible for stealing over $235 million has transferred around $10 million through sanctioned Tornado Cash in the past 24 hours, according to blockchain security firm Cyvers. Cyvers reported that the hacker had begun moving assets the previous
WazirX has initiated phase two of its fiat currency withdrawal process ahead of schedule, starting on Sept. 3 instead of the previously announced date of Sept. 9. This development comes in the wake of a security breach that resulted in the theft of over $230 million in user assets. CEO Nishal Shetty took to social
Binance CEO, Richard Teng, recently criticized the Nigerian government for its treatment of Tigran Gambaryan, an American executive who has been detained since February. Teng spoke out against the inhumane treatment of Gambaryan and called for his release for medical treatment and to be reunited with his family. A viral video surfaced showing Gambaryan struggling
OKX’s Singaporean entity, OKX SG, recently made headlines by securing a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license is highly coveted in Singapore, as it provides businesses with the ability to operate without daily or monthly transaction limits. Companies seeking this license must meet strict criteria, including being
In a surprising turn of events, former FTX executive Ryan Salame has decided to withdraw his petition to dismiss the indictment against Michelle Bond. This decision comes just days before a critical court hearing and signifies a significant shift in the legal proceedings surrounding the case. Salame’s legal team, in a letter dated August 29,
Recently, both Binance and Bybit have teased the launch of new products related to Solana, creating a buzz within the crypto community. While specific details have not been revealed, the messages shared by both exchanges suggest a potential foray into the Solana liquid staking market. Unlike traditional staking, liquid staking allows users to earn additional
The recent $234 million hack on WazirX has prompted the embattled crypto platform to enter into an initial 30-day moratorium. This decision was made in light of pending deliberations by Singapore’s High Court on whether to extend the moratorium. CoinSwitch, a rival platform, has announced its intention to pursue legal action to recover approximately $9.6
Former FTX executive Ryan Salame is facing a complicated legal battle as he tries to void his guilty plea based on false promises from prosecutors. The US government has strongly opposed Salame’s attempt, calling his allegations demonstrably false. The charges against Salame’s partner, Michelle Bond, are distinct and ongoing, according to the US Attorney’s Office.
Indian cryptocurrency exchange WazirX has recently expressed concerns about external parties attempting to prolong its restructuring process for their own benefits. These parties, who are not invested in the platform, are said to be creating and maintaining uncertainty rather than seeking a resolution to the current situation. Following a major security breach on July 18
The US federal judge recently denied crypto exchange Kraken’s request to dismiss a lawsuit filed by the Securities and Exchange Commission (SEC). The SEC accused Kraken of operating an unregistered securities exchange, broker, dealer, and clearing agency, earning hundreds of millions of dollars illegally since 2018. The SEC argued that by not registering as a