In July, the cryptocurrency exchange WazirX fell victim to a staggering breach that saw $230 million siphoned off by a hacker. This incident not only compromised the financial integrity of the platform but also raised significant alarms about the security measures in place across cryptocurrency exchanges. With over 45% of WazirX’s reserves affected, the impact
Exchanges
The landscape of cryptocurrency adoption has shown a myriad of trends globally, with varying levels of enthusiasm and engagement among countries. However, a focused examination of the United Arab Emirates (UAE) reveals it to be a remarkable outlier. According to a recent analysis by Chainalysis, the UAE has exhibited significant growth across all transaction size
As the cryptocurrency market continues to expand and mature, traditional financial institutions are increasingly recognizing the potential of digital assets. One noteworthy development is BNY Mellon’s recent efforts to carve out a niche in the crypto custody market, particularly focusing on Bitcoin and Ethereum exchange-traded funds (ETFs). On September 24, Bloomberg News reported that the
In a significant strategic move, cryptocurrency exchange Kraken has announced the acquisition of Coin Meester (BCM), one of the longest-standing registered crypto brokers in the Netherlands. This acquisition, revealed in a statement on September 24, aims to bolster Kraken’s foothold in the Dutch market and enhance its operational capacity through newly secured Virtual Asset Service
In a recent development that has sent ripples across the cryptocurrency landscape, BingX, a prominent crypto exchange, reported a minor asset loss following unauthorized transactions from one of its hot wallets. On September 20, Vivien Lin, BingX’s Chief Product Officer, revealed that the exact financial extent of these losses is still being assessed, while preliminary
The ongoing legal skirmish between the U.S. Securities and Exchange Commission (SEC) and cryptocurrency exchange Coinbase has reached a critical juncture, with the SEC requesting a significant extension in the timeline for fact discovery in their contentious lawsuit. This request, which seeks an extension from October 18 to February 18, 2025, underlines not only the
In the evolving landscape of digital assets, regulatory clarity is paramount for fostering innovation and ensuring consumer protection. The Chief Legal Officer of Robinhood, Daniel Gallagher, has recently voiced concerns regarding the approach taken by the U.S. Securities and Exchange Commission (SEC) in its regulation of cryptocurrencies. During a House Financial Services Subcommittee hearing on
The ever-evolving landscape of cryptocurrency is fraught with its own set of challenges, especially in regions like India where regulatory frameworks are in flux. Recently, the Indian crypto exchange WazirX has been at the center of controversy following a significant hack that resulted in losses amounting to $235 million. This incident has not only shaken
The cryptocurrency landscape is rife with speculation and intrigue, but recent accusations against Coinbase have sparked significant debate among investors and analysts. On September 16, rumors proliferated on social media asserting that Coinbase was engaging in dubious practices regarding its management of BlackRock’s Bitcoin-related funds. Specifically, these allegations suggested that rather than acquiring actual Bitcoin
The saga surrounding Ryan Salame, a former executive of the notorious FTX cryptocurrency exchange, has taken a dramatic turn as new revelations of deceit and misrepresentation come to light. Salame, who previously entered a guilty plea pertaining to campaign finance and money-transmitting violations, has admitted to lying during his plea hearing, igniting valuable discussions about