The cryptocurrency exchange Gemini has conveyed its intention to discontinue operations in Canada by the conclusion of 2024, raising eyebrows across the financial and crypto sectors. An email dispatched to Canadian customers on September 30 outlined that, effective December 31, 2024, all Gemini accounts will be shut down, with limited exceptions. This announcement reflects not
Exchanges
Caroline Ellison, previously at the helm of Alameda Research and once romantically linked to the controversial Sam Bankman-Fried (SBF), has become emblematic of the broader fallout from the FTX debacle. Recently sentenced to two years in prison and ordered to forfeit an astonishing $11 billion, Ellison’s case highlights the complexities surrounding corporate accountability, personal integrity,
In July, the Indian cryptocurrency exchange WazirX was thrust into a significant crisis when it suffered a staggering $230 million hack. This incident left users anxious about their assets and raised serious questions about the exchange’s security measures and governance frameworks. As a direct consequence, WazirX requested a six-month moratorium to recover from the breach
In the rapidly evolving landscape of cryptocurrencies, finding the right exchange can be a daunting task, especially with an increasing number of platforms emerging every day. Selecting a suitable crypto exchange platform is not just about convenience but is also pivotal in your trading success. The crypto realm is rife with opportunities and risks, and
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
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
