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
Exchanges
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
Tigran Gambaryan, an American citizen working for Binance, has taken legal action against Nigerian authorities, including the National Security Adviser (NSA) Nuhu Ribadu and the Economics and Financial Crime Commission (EFCC). This action comes in response to allegations of human rights violations following his detention on Feb. 26 alongside his colleague Nadeem Anjarwalla. As the
The recent criminal charges levied against KuCoin by US authorities have led to a surge in withdrawal requests on the platform. Various on-chain analytics firms have reported a significant increase in withdrawals across different categories of traders, including whales, funds, smart money, and market makers. The allegations against the exchange and its founders include operating
In the wake of the US Department of Justice levying criminal charges against KuCoin for violating anti-money laundering laws, CEO Johnny Lyu has taken to social media to reassure users that their funds are safe and that the platform’s operational stability remains unaffected. Despite the allegations, Lyu remains confident in the safety of user assets
In a shocking turn of events, Nadeem Anjarwalla, a Binance executive detained by Nigerian authorities, has managed to escape custody. Despite efforts by the authorities, Anjarwalla, who holds dual citizenship from Kenya and the UK, disappeared during Friday prayers at a mosque in Abuja. Using a Kenyan passport to board a flight, he has successfully