The recent bankruptcy of the FTX exchange has shaken the cryptocurrency community with its implications. On April 18, the exchange emptied its FTT treasury account, transferring a significant amount of assets to a new wallet address. A report by Arkham Intelligence revealed that the transferred assets included 195.87 million FTT tokens valued at approximately $247
Exchanges
Binance, a leading cryptocurrency exchange, recently made a strategic decision to convert its Secure Asset Fund for Users (SAFU) into Circle’s USD Coin (USDC) stablecoin. By transferring 100% of SAFU’s assets to USDC, Binance aims to enhance the reliability and stability of the fund, ensuring it remains at $1 billion. USDC, known for its transparency
Binance.US recently made headlines by announcing the appointment of Martin C. Grant to its Board in an effort to bolster compliance measures and rebuild trust among its users. This move comes after the crypto trading platform faced intense regulatory scrutiny, particularly due to its association with global exchange Binance and its recent settlement with US
A recent analysis conducted by crypto exchange Bybit has brought to light a concerning trend in the world of Bitcoin. The report predicts that if current withdrawal rates persist, there could be a shortage of Bitcoin on exchanges by the end of 2024. With around 7000 BTC being withdrawn from exchanges every day, reserves could
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
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