Visa, a recognized leader in traditional finance (TradFi), has unveiled an exciting new partnership with Coinbase aimed at offering instantaneous deposit services for users utilizing eligible debit cards. Announced on October 29, this collaboration signifies a significant development in the evolving landscape of cryptocurrency transactions. Cuy Sheffield, Visa’s Head of Crypto, conveyed palpable enthusiasm for
Exchanges
In a significant development within the cryptocurrency landscape, FTX has successfully secured a $228 million settlement with the crypto exchange Bybit and its affiliates. This settlement comes in the wake of a lawsuit filed in November 2023, wherein FTX sought to recover nearly $1 billion in assets that it alleged were improperly withdrawn prior to
In a bold move to reshape the decentralized finance (DeFi) landscape, Kraken, a well-known cryptocurrency exchange, has revealed plans for the launch of Ink, an Ethereum layer-2 network built on the Optimism Superchain. Scheduled to launch its testnet for developers later this year and aiming for a full rollout by early 2025, Ink signifies a
WazirX, a prominent cryptocurrency exchange operating out of India, has taken a significant step by disclosing its proof-of-reserves (PoR) report, illustrating a complex landscape of how customer assets are managed. As of October 24, the report reveals that a staggering 40% of customer assets, totaling approximately $126.91 million, are held on third-party exchanges. This move
Recent developments in South Korea have left over 33,000 cryptocurrency investors unable to access their assets, which are collectively valued at approximately $13 million. The situation arises from the closure of multiple crypto exchanges due to the enforcement of the Virtual Asset User Protection Act, a legislative move aimed at increasing investor security and accountability
In a significant turn of events in the FTX legal proceedings, former executive Nishad Singh has become a crucial asset for US prosecutors investigating the crypto exchange’s downfall. As stated in a court filing dated October 23, authorities have acknowledged Singh’s “substantial assistance,” indicating his transformation from a key player in FTX to a cooperative
In a significant turn of events, the Nigerian government has formally dropped all charges against Tigran Gambaryan, a senior executive at Binance Holdings. Gambaryan was apprehended in February 2024 upon his arrival in Nigeria, where he was scheduled to meet with local officials. His detainment had raised alarms internationally, leading to widespread concerns regarding the
In a notable move indicative of its ambition for regulatory transparency, Coinbase filed two Freedom of Information Act (FOIA) requests on October 18, 2023. The leading cryptocurrency exchange aims to obtain crucial insights into the regulatory landscape for digital assets in the United States. This initiative reflects the growing tension between crypto companies and regulatory
The collapse of FTX in late 2022 sent shockwaves throughout the cryptocurrency industry, resulting in substantial financial losses for investors and marking a significant turning point in how cryptocurrency exchanges are governed and regulated. At the center of this collapse were several prominent executives, including Nishad Singh, who now faces sentencing for his involvement in
The ongoing legal saga between Ripple and the U.S. Securities and Exchange Commission (SEC) has become a focal point for discussions surrounding cryptocurrency regulation. Unveiling a new chapter in this contentious battle, the SEC’s recent actions highlight its determination to challenge aspects of a ruling that initially favored Ripple, while leaving certain pivotal decisions intact.