In a momentous legal development, Nigeria’s Federal Inland Revenue Service (FIRS) has initiated legal proceedings against Binance Holdings Limited, seeking an astonishing $81 billion in alleged unpaid taxes and penalties. This monumental claim has sparked discussions within the financial and cryptocurrency sectors, highlighting the tension between regulatory bodies and cryptocurrency exchanges operating in various jurisdictional
Exchanges
In a landmark decision for its US customers, Binance.US has reinstated the ability to deposit and withdraw US dollars. This development, communicated on February 19, signifies a major transition from a prolonged period during which the platform operated solely as a cryptocurrency exchange. After months of navigating regulatory challenges and operational limitations, users can now
In the ever-evolving world of cryptocurrency, the innovative technologies and platforms designed for trading and investment often attract not only legitimate users but also skilled criminals. Recent warnings from Binance CEO Richard Teng highlight the emergence of a particularly insidious scam known as the “share-seed-phrase” scam. On February 18, Teng took to social media to
In recent times, XRP has emerged as a front-runner in the cryptocurrency trading landscape, eclipsing traditional favorites like Ethereum on U.S.-based exchanges. This trend has drawn attention from analysts and traders alike, particularly following insights from a recent Kaiko report. The comprehensive analysis revealed intriguing dynamics in trading volumes, liquidity rankings, and market behavior that
In a recent address to the crypto community, Changpeng Zhao, the founder and former CEO of Binance, responded to rumors suggesting the exchange was on the brink of selling itself. Addressing the swirling speculation, Zhao characterized these assertions as misleading narratives, allegedly crafted by a competing entity in Asia. This response, posted on February 17,
In a significant development for the cryptocurrency landscape, Bybit’s CEO Ben Zhou announced that the exchange has successfully emerged from the blacklist of France’s Autorité des Marchés Financiers (AMF). This milestone follows a rigorous two-year process of aligning the company with the regulatory requirements set forth by French authorities. Zhou took to social media on
Coinbase ended the year with a remarkable performance that has positioned it as a formidable player in the cryptocurrency exchange arena. Reporting a staggering $2.3 billion in revenue for the fourth quarter of 2024, the company not only surpassed market expectations of $1.87 billion but also showcased an impressive 88% increase from the prior quarter.
The CME Group has made headlines with unprecedented trading volumes in cryptocurrency, particularly within its derivatives marketplace, throughout the last quarter of 2024. The organization reported an astounding average of $10 billion in daily trading for crypto futures and options. This figure marks a staggering increase of over 300% from the previous year’s comparable quarter,
In a remarkable turn of events, Robinhood has reported an astronomical 400% increase in cryptocurrency trading volumes during the last quarter of the year. The surge saw trading volumes soar to an impressive $70 billion as retail investors eagerly returned to the crypto market. This resurgence coincided with Bitcoin’s dramatic ascent, breaking through the $100,000
In 2024, the centralized cryptocurrency trading landscape witnessed a remarkable resurgence, culminating in a staggering $18.83 trillion in trading volume. This figure, as elucidated in a recent CoinGecko report, underscores the significant fluctuations in trading activities of leading exchanges. Through an extensive examination of annual cumulative spot trading from January 2020 to December 2024, the
