In a striking move towards financial stability within the cryptocurrency sector, Bybit has successfully repaid a substantial loan of 40,000 Ethereum, valued at approximately $99.98 million, which it borrowed from Bitget amid a significant security breach. This incident, which resulted in a staggering $1.4 billion loss, shook the trust in digital asset exchanges, prompting wider
Exchanges
In a significant move that underscores the complexities of cryptocurrency regulation, OKX, a major cryptocurrency exchange, recently resolved a $500 million settlement with U.S. authorities. This decision was made public on February 24, following an admission by the company’s CEO, Star Xu, regarding prior compliance failures. Acknowledging these missteps, Xu emphasized the relatively minor representation
The European Union has escalated its response to the ongoing conflict in Ukraine with a series of sanctions designed to impede Russia’s financial operations. Among the notable actions taken is the sanctioning of Garantex, a cryptocurrency exchange based in Russia. Officially announced on February 24, this marks a significant moment in the EU’s strategy, as
Citadel Securities is embarking on a significant new journey into the world of cryptocurrency market making. According to a recent report by Bloomberg News, the firm is positioning itself to provide liquidity across well-known cryptocurrency platforms like Binance, Coinbase, and Crypto.com. This strategic move underscores a notable shift for Citadel, which has historically remained cautious
The cryptocurrency landscape is no stranger to chaos and financial controversy, but recent events surrounding OX.FUN, a derivatives exchange linked to the embattled Three Arrows Capital co-founders Su Zhu and Kyle Davies, have thrown the platform into a particularly turbulent spotlight. The exchange now faces significant backlash following serious allegations of financial misconduct, raising questions
The recent hack of ByBit, a major cryptocurrency exchange, has sent shockwaves through the digital finance community. With approximately $1.5 billion in Ethereum (ETH) plundered, this incident is now regarded as one of the most significant hacks in the cryptocurrency space. On February 21, the exchange revealed through a post on social media platform X
The demise of FTX, a popular cryptocurrency exchange, marked one of the most significant scandals in the financial sector. Following allegations of financial misconduct, FTX filed for Chapter 11 bankruptcy in November 2022. The fallout from this event has been drastic, affecting countless users and investors across the globe. Former CEO Sam Bankman-Fried’s claims of
In 2024, cryptocurrency exchange Kraken has reported a striking surge in data requests from law enforcement and regulatory bodies, as highlighted in their recent transparency report. The total number of requests reached an impressive 6,826, showcasing a substantial 38.6% increase from the previous year. This data raises critical questions about the evolving relationship between cryptocurrency
In a recent statement, Coinbase’s CEO Brian Armstrong issued a stark warning regarding insider trading associated with memecoins. This warning came amid rising concerns that certain traders are engaging in illegal activities within this speculative market. Armstrong’s post on social media platform X on February 19, 2023, clearly articulated the legal implications of these actions
In a remarkable turnaround, Binance.US has announced the reopening of USD deposits and withdrawals for its users, a move that signifies a pivotal change in its service offerings after months of limitations. This development, reported on February 19, allows customers to transfer funds without incurring any fees through Automated Clearing House (ACH) transactions. The phased