US Senators Elizabeth Warren and Charles Grassley have initiated a formal request for a detailed account of all interactions between CFTC Chair Rostin Behnam and Sam Bankman-Fried. The request came following Bankman-Fried’s recent sentencing to 25 years in prison for defrauding investors of $8 billion through FTX, a collapsed crypto exchange. The senators have asked
Exchanges
The Financial Crimes Enforcement Network (FinCEN) recently commended crypto exchange Coinbase for its substantial role in assisting major criminal investigations. In a letter to Coinbase CEO Brian Armstrong, FinCEN praised the digital currency exchange for its compliance and reporting practices that have aided law enforcement efforts. This acknowledgment comes at a crucial time, as Coinbase
Recent developments in the cryptocurrency industry have sparked a notable decrease in trading activity on the Uniswap decentralized exchange. Following the issuance of a Wells notice by the US Securities and Exchange Commission (SEC) to Uniswap Labs, the entity behind the exchange, trading volume on Uniswap dipped by almost 10% in just one day. This
Bitget, a cryptocurrency exchange registered in Seychelles, has made significant strides since its establishment in 2018. With over 25 million registered users globally and a daily trading volume exceeding $10 billion USDT, Bitget has quickly become a dominant player in the crypto trading space. The platform’s offerings have expanded beyond copy trading to include spot
Recently, a Nigerian High Court in Abuja made a ruling to detain Tigran Gambaryan, a Binance executive, following the postponement of his bail hearing. Gambaryan, who is a US citizen, pleaded not guilty to money laundering charges and is now set to remain in custody until his bail hearing on April 18. The trial is
FTX creditors are expressing strong dissatisfaction with the decision made by the bankrupt crypto exchange to sell its Solana holdings at a heavily discounted rate to crypto venture firms. The move, which saw FTX offloading 30 million SOL at $64 each to firms like Pantera Capital and Galaxy Trading, represents a significant 62% markdown from
Binance, a major crypto exchange, found itself in hot water in Nigeria as it faced criminal charges. Surprisingly, the exchange lacked legal representation during a crucial court hearing on April 4th. With only its compliance chief, Tigran Gambaryan, in attendance, who has been detained by the Nigerian government since February, the situation appeared dire for
After numerous promises by Coinbase CEO Brian Armstrong, the US-based crypto exchange is finally making strides towards integrating the Bitcoin Lightning network. In a recent statement on April 3rd, Lightspark, a lightning network-based payment infrastructure provider, announced that they were selected by Coinbase to assist with the integration process. As part of the partnership, Coinbase
KuCoin, a prominent cryptocurrency exchange, has recently faced legal challenges with US authorities. These challenges have had a significant impact on the exchange’s user assets, as evidenced by the latest proof-of-reserve certificate. The update shows a substantial decrease in users’ Bitcoin holdings, Ethereum balances, and Tether’s USDT on the platform. This decline indicates a loss
The US and UK governments have teamed up to investigate crypto transactions totaling over $20 billion that may have breached Russian sanctions. The transactions are suspected to have been channeled through Garantex, a Russia-based crypto exchange, with the aim of circumventing international sanctions and potentially supporting military activities in Ukraine. Despite comprehensive sanctions against Russia