In a significant development within the cryptocurrency landscape, the Optimism Foundation and Kraken have struck a landmark deal worth $25 million in OP tokens, aimed at establishing Kraken’s newly launched layer-2 (L2) blockchain, Ink, within the Superchain ecosystem. This financial engagement translates to an estimated $43 million based on the current valuation of OP tokens,
Exchanges
In an ambitious push to enhance user experience, Binance, the world’s leading cryptocurrency exchange by trading volume, has announced a strategic collaboration with Amazon Web Services (AWS), as detailed in a recent statement. The integration of AWS’s cloud capabilities and generative artificial intelligence (AI) tools represents a significant step forward in Binance’s ongoing commitment to
In the fluctuating landscape of decentralized finance (DeFi), a recent report from Animoca Research sheds light on the performance of tokens listed across five major cryptocurrency exchanges from January to September. The analysis evaluated 773 token listings, revealing a disconcerting average drop in value, ranging between 40% and 70%. Notably, exchanges such as Binance, Bitget,
The sentencing of Nishad Singh, who served as the engineering director at the now-defunct cryptocurrency exchange FTX, represents a pivotal moment in the ongoing fallout from one of the largest financial scandals in American history. On October 30, Singh received a sentence of time served along with three years of supervised release after admitting his
On October 30, Kraken made headlines with its announcement regarding layoffs, which it characterized as essential “organizational changes” aimed at refining its operational structure and refocusing its strategic goals. The exchange appointed Arjun Sethi, co-founder of Tribe Capital, as its co-CEO during this transformation. Such layoffs, although often deemed a stark reality in the corporate
The collapse of FTX has underscored the intricate challenges that arise in the aftermath of corporate insolvency, especially in the tumultuous world of cryptocurrency. With significant debts and a myriad of stakeholders involved, recovering assets for creditors has become a priority for the firm currently restructuring under Chapter 11. A pivotal figure in this process
In a significant move for both traditional finance and the cryptocurrency realm, Visa has announced a strategic partnership with Coinbase. As of October 29, this collaboration is poised to transform how customers deposit funds into their Coinbase accounts using eligible Visa debit cards. This initiative aims to deliver instant deposit services, thereby revolutionizing the user
FTX, once a dominant player in the cryptocurrency exchange market, has recently secured a pivotal $228 million settlement with Bybit and its affiliated entities. This agreement brings conclusion to a lawsuit that aimed to reclaim nearly $1 billion in assets after FTX filed for bankruptcy in November 2022. The complexities surrounding this case not only
On October 24, 2023, Kraken, one of the leading cryptocurrency exchanges, unveiled its forthcoming decentralized platform, Ink, an innovative layer-2 network constructed on the foundation of the Optimism Superchain. This unveiling signals a transformative step away from traditional centralized exchange models, propelling users into the realm of decentralized finance (DeFi) where they can trade, borrow,
WazirX, a prominent cryptocurrency exchange in India, recently made headlines by publishing its proof-of-reserves (PoR) report amidst ongoing challenges to its operations. The report reveals that a striking 40% of customer assets are managed off-platform, stored on third-party exchanges. This move by WazirX aims not just to comply with regulatory expectations but also to promote
