Recent disclosures by Paul Grewal, the Chief Legal Officer at Coinbase, have sparked significant concern in the cryptocurrency community regarding the Federal Deposit Insurance Corporation’s (FDIC) stance towards banking services related to cryptocurrencies. Grewal unveiled a series of unredacted communications, commonly referred to as “pause letters,” which indicate that the FDIC has advised banks to
Exchanges
Crypto.com has made significant strides in the United States market by introducing stock and exchange-traded fund (ETF) trading capabilities on its platform. Announced on January 3, this initiative enables users to manage both their crypto portfolios and traditional investments seamlessly through a single application. This move reflects Crypto.com’s ambition to integrate diverse financial instruments, allowing
On December 16, 2023, FTX and its associated debtors made a significant announcement regarding their reorganization plan, intending to take effect on January 3, 2025. This development is crucial for the beleaguered cryptocurrency exchange, as it embarks on the arduous journey of recovery after its infamous collapse in November 2022. With the hopes of regaining
In a significant legal maneuver, Celsius Network has initiated an appeal as of December 31, appealing Judge John Dorsey’s ruling that dismissed its $2 billion defamation claim against the collapsed FTX exchange. This appeal introduces another layer to the already intricate legal proceedings enveloping both Celsius and FTX, highlighting the ramifications of reputational damages within
In a landmark decision, Binance has received approval from Brazil’s Central Bank to acquire Sim;paul, a licensed broker-dealer. This pivotal move is particularly significant as it marks Binance as the first cryptocurrency exchange in Brazil to wield such a license. The implications of this acquisition extend beyond mere compliance; it positions Binance to enhance its
In recent developments, Malaysia’s exemplary commitment to investor protection has come to the forefront with the Securities Commission (SC) taking a hard stance against cryptocurrency exchange Bybit and its CEO, Ben Zhou. The SC’s directive for Bybit to halt all operations within Malaysia is a critical reminder of the importance of regulation in the rapidly
In the ever-evolving landscape of decentralized finance (DeFi), Bitget Wallet is set to revolutionize the way users manage their transaction fees. Starting January 2025, the wallet will introduce its GetGas feature, allowing users to prioritize their native BGB token for multi-chain gas payments. This initiative comes as a response to the complexities associated with handling
Sam Bankman-Fried, once a prominent figure in the cryptocurrency sphere as the founder of the now-bankrupt FTX exchange, faces the harsh realities of the legal system following his conviction connected to the exchange’s collapse. The Second Circuit Court of Appeals has recently rejected his appeal to overturn the conviction and sentencing, a pivotal moment that
The Indian cryptocurrency exchange WazirX finds itself in increasingly turbulent waters following a recent ruling by the Delhi High Court, which has mandated a new investigation into the platform’s operations. This directive, issued on December 18, directly coincided with Binance’s announcement regarding the delisting of WazirX’s native token, WRX. The legal scrutiny arises from significant
The Australian Securities and Investment Commission (ASIC) has initiated legal proceedings against Oztures Trading Ltd., the company behind Binance Australia Derivatives, citing serious deficiencies in customer protection protocols. The focus of this legal action stems from allegations that a significant number of retail investors were wrongly labeled as wholesale clients, thus stripping them of essential
