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
Exchanges
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.
Kraken, a prominent player in the cryptocurrency exchange landscape, has recently launched a wrapped Bitcoin product known as kBTC. This development, announced on October 17, marks a significant stride into an evolving market that aims to enhance Bitcoin’s utility on various blockchain platforms. Wrapped tokens have created a bridge between Bitcoin’s liquidity and the burgeoning
In an announcement made on October 15, 2023, cryptocurrency exchange Kraken proudly revealed its integration with EigenLayer, a notable protocol built on the Ethereum network. This partnership marks a significant milestone in the evolution of cryptocurrency staking, providing a streamlined avenue for users to engage in restaking Ethereum (ETH) directly on the Kraken platform. The