The introduction of crypto-related spot exchange-traded funds (ETFs) in the United States has had a significant impact on the supplies of Bitcoin and Ethereum on centralized exchanges. Recent data from Glassnode shows that Bitcoin balances on exchanges have dropped to 11.6%, marking the lowest level since December 2017. Similarly, Ethereum balances are at 10.6%, the
Exchanges
Gemini, the popular crypto exchange, recently announced that users of its Earn product have successfully received $2.18 billion of their digital assets. This marks a significant milestone for the users, as it represents 97% of the total digital assets that were owed to them. The recovery comes after the collapse of crypto lender Genesis, which
The Rehabilitation Trustee of the defunct crypto exchange Mt. Gox has confirmed that it has not sold its significant Bitcoin holdings despite transferring over 140,000 BTC (approximately $10 billion) today. The trustee clarified in a May 28 statement that preparations to repay creditors were ongoing. According to the firm, the bankruptcy process will compensate creditors
A recent development in Nigeria’s High Court has seen the money laundering trial against Binance and its executive Tigran Gambaryan being adjourned to June 20. The reason behind this adjournment was cited as the executive’s health concerns, as reported by the Economic and Financial Crimes Commission (EFCC) on May 23. The defense counsel, led by
Recently, rumors of Bybit crypto exchange facing insolvency began circulating on social media. CEO Ben Zhou quickly addressed these rumors, claiming that they were baseless and lacking any factual support. He went on to share Bybit’s Proof of Reserves to reassure users that all assets are fully collateralized, with reserve ratios exceeding 100% for Bitcoin,
The First District Court of Appeals in Florida recently made headlines by nullifying an Emergency Suspension Order (ESO) issued by the Office of Financial Regulation against Binance.US. This decision came after Florida’s regulator had banned Binance.US from serving its residents earlier this year, citing “immediate danger” to the public. One of the main reasons for
Coinbase, the popular cryptocurrency trading platform, recently faced backlash from users after a system-wide outage that lasted for over three hours. While the company stated that it had resolved the issue and resumed operations, several customers reported on social media that they were still unable to withdraw their funds. One user, Nigel Dias, shared his
The recent exclusive report by The Wall Street Journal has shed light on a troubling situation at Binance, the world’s largest crypto exchange. The report alleges that Binance fired the head of its market surveillance team after he brought forth concerns regarding potential market manipulation by a high-profile client. This action raises serious questions about
Coincheck, a prominent Japanese cryptocurrency exchange, has announced its plans to go public on the Nasdaq through a partnership with a special purpose acquisition company (SPAC) Thunder Bridge Capital Partners IV (THCP). This move will make Coincheck one of the two publicly listed exchanges in the United States, alongside Coinbase. The merger is expected to
The recent detention of Tigran Gambaryan, a top executive at Binance, in Nigeria has sparked outrage and calls for justice. Binance CEO Richard Teng has publicly condemned the unjust detention of Gambaryan, who was apprehended along with Nadeem Anjarwalla, the exchange’s regional manager for Africa, upon their arrival in Nigeria’s capital, Abuja, on Feb. 26.