The rapidly evolving landscape of cryptocurrencies has ushered in a new era of financial engagement around the globe, but few places showcase as strikingly contrasting a growth pattern as the United Arab Emirates (UAE). In stark contrast to many countries where crypto engagement tends to fluctuate between various transaction size brackets, the UAE has demonstrated
Exchanges
In the fast-evolving realm of cryptocurrencies, security breaches have emerged as major threats to exchange platforms and their users. The recent theft of $230 million from WazirX, one of India’s prominent cryptocurrency exchanges, has brought to light glaring vulnerabilities in the industry’s infrastructure. As of the latest data from Arkham Intelligence, nearly all of the
In recent developments, BNY Mellon has made noteworthy strides toward positioning itself within the burgeoning realm of cryptocurrency custody, specifically targeting Bitcoin and Ethereum exchange-traded funds (ETFs). The bank’s actions are underscored by the recent exemption received from the SEC, allowing BNY Mellon a unique advantage in how it categorizes customer crypto holdings. As the
In a strategic maneuver aimed at solidifying its presence in Europe, Kraken has announced its acquisition of Coin Meester (BCM), a well-established player in the Netherlands’ cryptocurrency brokerage sector. This acquisition, detailed in a statement on September 24, serves not only to enhance Kraken’s capabilities in the Dutch market but also to broaden its operational
In a rather alarming turn of events, cryptocurrency exchange BingX reported a security breach that led to a “minor asset loss,” as confirmed by the platform’s Chief Product Officer, Vivien Lin. The incident, which occurred early in the morning on September 20, involved suspicious outflows from one of BingX’s hot wallets. Although the specific amount
The legal battle between the United States Securities and Exchange Commission (SEC) and cryptocurrency exchange Coinbase has turned a critical corner as the SEC seeks a four-month extension to wrap up fact discovery in their ongoing lawsuit. Initially filed in June 2023, the suit accuses Coinbase of operating as an unregistered securities broker. The outcome
The evolution of digital assets has sparked debates within financial regulatory frameworks, particularly in the United States. A recent hearing held by the House Financial Services Subcommittee on Digital Assets brought to the forefront the frustrations of industry leaders, particularly Daniel Gallagher, Chief Legal Officer of Robinhood. His written testimony highlighted serious concerns regarding the
The world of cryptocurrency is fraught with challenges, and recent events surrounding the Indian crypto exchange WazirX have drawn considerable attention. On September 17, Binance issued a robust statement distancing itself from WazirX, particularly in light of a substantial $235 million hack that plagued the Indian exchange in July. Binance’s declaration not only portrayed their
The cryptocurrency landscape is often marred by speculation, misinformation, and rumor—dynamics that can have significant implications on market perceptions and investor behavior. Recently, Coinbase has found itself at the center of a controversial discussion following allegations regarding its use of funds linked to an exchange-traded fund (ETF) managed by financial giant BlackRock. At the heart
The downfall of cryptocurrency exchange FTX has reverberated through the financial and legal communities like few other scandals. Central to this story is Ryan Salame, a former executive who, until recently, was entangled in a web of financial impropriety and deceit. Salame’s case has taken a troubling turn, raising questions about the integrity of his
