Coinbase, one of the leading cryptocurrency exchanges, has recently announced an increase in the interest rate for holding the USDC stablecoin. Users can now earn up to a 5% reward rate on USDC holdings, a significant improvement from the previous 4% rate introduced earlier this year. This update demonstrates Coinbase’s commitment to promoting stablecoin adoption
Exchanges
Leading cryptocurrency exchange Binance recently announced that it will be discontinuing support for non-fungible tokens (NFTs) as well as its Sandbox NFT Staking Program. The company stated that these changes are a result of their “consideration and evaluation” process and are part of their efforts to streamline their services. However, Binance did not provide any
In a shocking turn of events, former FTX co-CEO Ryan Salame is set to plead guilty to criminal charges against him, according to a report by Bloomberg. Salame, who was jointly responsible for FTX Digital Markets alongside Sam Bankman-Fried, is scheduled to appear at the Manhattan federal court to enter his plea. This development comes
Coinbase Singapore has announced that starting from September 5th, users will need to provide additional counterparty information when initiating cryptocurrency deposits or withdrawals. These measures have been put in place to comply with the regulations set by the Monetary Authority of Singapore (MAS) regarding anti-money laundering and countering the financing of terrorism. According to Coinbase’s
Regulated stock exchanges are facing a dilemma as they grapple with the increasing demand for cryptocurrency products. Despite the growing interest in crypto-related assets among retail and institutional investors, these exchanges are hesitant to offer such products. This article examines the reasons behind this reluctance and the challenges that regulated stock exchanges face in entering
Binance, one of the world’s largest cryptocurrency exchanges, recently confirmed the departure of its head of product, Mayur Kamat. Kamat, who joined Binance in January 2022, had previously worked at Google and Agoda before taking on the role at the exchange. The confirmation of Kamat’s departure adds to a growing list of top-level executives leaving
In recent weeks, a cold wallet owned by the defunct cryptocurrency exchange FTX has been making waves in the crypto community. According to on-chain data, the wallet has moved nearly $10 million worth of altcoins from Solana to Ethereum since August 31. This unexpected transfer has raised many questions about the motives behind it and
GMX, a decentralized perpetual exchange, launched on Arbitrum in September 2021, making a significant impact on the DeFi community. Its unique features, such as being the first DEX and perpetual market on the Arbitrum ecosystem, and a shared liquidity pool system, attracted attention and contributed to its rapid growth. Within a month, GMX’s total value
In a recent letter to U.S. District Judge Lewis A. Kaplan, attorneys for FTX founder Samuel Bankman-Fried argued that their client’s constitutional rights were being violated due to the lack of adequate access to evidence against him. Federal prosecutors had proposed providing Bankman-Fried with an offline laptop and limited internet access inside a courthouse cellblock,
In a recent filing, U.S. prosecutors addressed the complaints raised by former FTX CEO Sam Bankman-Fried and his legal team regarding the government’s handling of discovery materials. Bankman-Fried had objected to the timing and volume of the materials provided, citing his inability to review them due to his imprisonment. This article critically examines the prosecutors’
