On January 16, 2024, Coinbase, a leading cryptocurrency exchange, unveiled a significant collaboration with Morpho, a decentralized money market platform. This partnership aims to enable Coinbase users to secure loans in USD Coin (USDC) while using Bitcoin (BTC) as collateral. This move is indicative of the evolving landscape of decentralized finance (DeFi), where traditional financial
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The 2016 Bitfinex hack marked a significant moment in the cryptocurrency world, resulting in the theft of almost 120,000 Bitcoin (BTC), valued at approximately $71 million at the time. The security breach not only inflicted financial damage on Bitfinex but also shook the confidence of its users. In response to the breach, Bitfinex had to
On January 15, the US Department of Justice (DOJ) made headlines by announcing a hefty $100 million fine against BitMEX and its parent company, HDR Global Trading Limited, highlighting significant breaches of the Bank Secrecy Act (BSA). Following an arduous legal saga that extended over several months, BitMEX finally entered a plea of guilty to
HashKey Group, a formidable player in the digital asset sector, has taken a significant step forward with its recent announcement regarding the in-principle approval for a Virtual Asset Service Provider (VASP) license granted by the Dubai Virtual Assets Regulatory Authority (VARA). This pivotal development, revealed on January 13, signifies not just a regulatory achievement but
The collapse of FTX, once a titan in the cryptocurrency exchange sector, sent shockwaves through the financial world. As the world learned of its bankruptcy, various measures were put in place to navigate the aftermath. A critical aspect of the unfolding saga involves the proposed sale of FTX’s European subsidiary, FTX EU, to a platform
In 2024, Kazakhstan has ramped up its efforts to regulate the burgeoning cryptocurrency sector by intensifying scrutiny on illegal crypto exchanges. The nation’s Financial Monitoring Agency (AFM) reported a significant operation that led to the closure of 36 unauthorized exchanges, which collectively processed over $100 million. This initiative reflects a growing alarm over the potential
In an ambitious move aimed at reshaping the financial landscape, Crypto.com has recently launched the option for users in the United States to trade stocks and exchange-traded funds (ETFs) directly on its platform. Announced on January 3, this significant development allows users to manage their investments in both securities and cryptocurrencies seamlessly through the Crypto.com
The cryptocurrency landscape has dramatically shifted in recent years, influenced not only by market dynamics but also by regulatory scrutiny. Recently, revelations from Coinbase’s chief legal officer, Paul Grewal, have underscored the tension between cryptocurrency advocates and financial regulators. Unredacted letters from the Federal Deposit Insurance Corporation (FDIC) indicate that the agency has undertaken measures
The tumultuous journey of FTX, once one of the most prominent cryptocurrency exchanges, is set for a fresh start with the announcement that its reorganization plan will officially take effect on January 3, 2025. This critical date marks the pivot point for the relief of creditors, as the company has pledged to commence distributions within
In a notable development within the crypto industry, Celsius Network has lodged a notice of appeal against Judge John Dorsey’s ruling, which rejected the company’s $2 billion disparagement claim against the now-defunct FTX exchange. This legal battle, set for review in the District Court, underlines the tumultuous landscape faced by cryptocurrency firms, especially in the