Amid escalating frustrations from users about transaction delays on Solana, Coinbase CEO Brian Armstrong took to social media to announce significant progress. On January 22, he confirmed that the longstanding backlog of Solana transactions has been resolved, assuring users that the exchange is equipped to handle transactions more efficiently. This development comes in the wake
Exchanges
Recent conversations in the cryptocurrency market have been sparked by rumors that the CME Group may be on the brink of launching futures contracts for notable cryptocurrencies Solana (SOL) and XRP. These claims emerged on January 22, primarily fuelled by an alleged screenshot shared by a user on the platform X, implying that the CME
The cryptocurrency landscape is often fraught with legal challenges, particularly as regulatory frameworks continue to evolve. A recent case has emerged involving Coinbase and BiT Global, centered around the controversial decision to delist Wrapped Bitcoin (wBTC) from the Coinbase exchange. This legal confrontation underscores the complexities that arise when an exchange must navigate user safety,
In recent years, the landscape of international money transfers has been significantly reshaped by the rise of cryptocurrency. One of the most notable examples of this transformation comes from Binance, the world’s leading cryptocurrency exchange by trading volume. The company recently reported that its users conducted a remarkable $26 billion in peer-to-peer remittances between 2022
On January 16, 2024, Coinbase embarked on a transformative journey by announcing a partnership with Morpho, an emerging player in the decentralized finance (DeFi) sector. This collaboration aims to enhance the accessibility of financial services within the crypto space, allowing users to take out loans denominated in USD Coin (USDC) backed by Bitcoin (BTC). Through
In 2016, the cryptocurrency exchange Bitfinex fell victim to a significant hacking incident, resulting in the theft of nearly 120,000 Bitcoin (BTC), valued at the time at approximately $71 million. The repercussions of this breach affected not just the exchange but thousands of its users, leading to a forced 36% reduction in account balances. To
On January 15, 2024, the United States Department of Justice (DOJ) announced that cryptocurrency exchange BitMEX, along with its parent entity HDR Global Trading Limited, would face a hefty $100 million fine for breaching the Bank Secrecy Act (BSA). This resolution came after an extended legal tug-of-war that began years earlier. While the DOJ initially
HashKey Group, an influential player in the digital asset industry hailing from Asia, has made headlines with its recent announcement of obtaining provisional approval for a Virtual Asset Service Provider (VASP) license from the Dubai Virtual Assets Regulatory Authority (VARA). This development, reported on January 13, showcases HashKey’s strategic intent to expand its footprint in
The collapse of FTX, once a titan in the cryptocurrency exchange space, has sent shockwaves through the financial landscape, especially for its subsidiaries. As the dust settles, FTX continues to navigate a complex bankruptcy process that has sparked a series of legal and financial disputes. Recently, the announced sale of FTX’s European arm, FTX EU,
Recent developments have magnified scrutiny on the decentralized prediction platform Polymarket, primarily due to its controversial decision to facilitate betting on catastrophic events like California’s wildfires. This move has led to heightened public outrage and regulatory attention, particularly from the U.S. Commodity Futures Trading Commission (CFTC), which has recently issued subpoenas for user data. As
