In an effort to clarify the regulatory landscape for cryptocurrencies in the United States, Coinbase has recently submitted two Freedom of Information Act (FOIA) requests to the Federal Deposit Insurance Corporation (FDIC). This move signifies the company’s proactive stance toward navigating the complexities of the regulatory environment surrounding digital assets. The requests were filed on
Exchanges
The collapse of FTX sent shockwaves throughout the cryptocurrency industry, revealing a harrowing tale of fraud, mismanagement, and broken trust. As the once-thriving exchange fell from grace, the aftermath left countless investors grappling with major financial losses. Central to this narrative are the former executives of FTX, whose roles in the orchestrated collapse have since
The ongoing legal strife between Ripple Labs and the United States Securities and Exchange Commission (SEC) has captivated the cryptocurrency community and brought many significant issues regarding regulatory oversight to the forefront. As Ripple navigates claims involving its XRP cryptocurrency, the SEC’s recent filing to appeal parts of Judge Analisa Torres’s ruling has sparked renewed
In a significant move to enhance its offerings within the expanding cryptocurrency market, Kraken has introduced a new wrapped Bitcoin product known as kBTC. Launched as an ERC-20 token, kBTC provides an innovative solution that embodies the core principles of Bitcoin while facilitating its integration into decentralized finance (DeFi) and various blockchain ecosystems. Each kBTC
In a significant move for both Kraken and Ethereum enthusiasts, the cryptocurrency exchange has successfully integrated with EigenLayer, facilitating a new feature that empowers users to restake their Ethereum (ETH) directly from the Kraken platform. This development, heralded in a press release on October 15, seeks to broaden the accessibility of restaking, enabling a diverse
In a significant legal setback for Binance, the High Court in Abuja has denied a bail application by Tigran Gambaryan, a key executive of the cryptocurrency exchange. This ruling, announced on October 11, has intensified scrutiny over the divergent issues surrounding cryptocurrency regulation and legal justice in Nigeria. Gambaryan, who has been in custody since
Arkham Intelligence is on the brink of launching its own crypto derivatives exchange, a significant development that has drawn attention across the cryptocurrency landscape. Bloomberg News broke the story on October 11, suggesting that the upcoming venture will be operational next month. The anticipation surrounding this launch has already sparked a notable increase in the
In a pivotal move, the Financial Services Commission (FSC) of South Korea has announced an inquiry into Upbit, the country’s premier cryptocurrency trading platform. This investigation stems from rising apprehensions regarding Upbit’s substantial influence over the domestic virtual asset market. FSC Chairman Kim Byung-hwan indicated that this scrutiny seeks to unpack the extent of market
The 2016 Bitfinex hack, which saw the theft of around 120,000 BTC (Bitcoin), stands as a sobering reminder of the vulnerabilities inherent in cryptocurrency exchanges. Recently, a filing by the U.S. government has shifted the focus of restitution claims predominantly onto Bitfinex itself, positioning it as the primary victim in the aftermath of the cyberattack.
On October 7, Bitget’s BGB token experienced a dramatic decline, plummeting from $1.15 to an alarming $0.5344 in just a short span of ten minutes. This sudden shift in value raised immediate concerns among traders and market observers. The volatility was particularly noteworthy as the token lost a staggering 56% of its value in a
