Kraken, a well-known name in the cryptocurrency exchange landscape, has achieved a significant milestone by obtaining a Markets in Financial Instruments Directive (MiFID) license in the European Union. This vital regulatory approval paves the way for Kraken to enhance its derivatives offerings across key European markets. With this license firmly in hand, Kraken is positioning
Exchanges
Recent discussions surrounding liquidation figures in the cryptocurrency market have raised eyebrows, particularly following comments from Bybit’s CEO, Ben Zhou. Contrary to mainstream reports that indicated liquidations were merely $2 billion, Zhou contends that the reality may be much grimmer, estimating between $8 billion and $10 billion. This contradiction stems from Zhou’s reference to Bybit’s
In a stellar year for cryptocurrency exchanges, Kraken has recently revealed that its revenue for 2024 soared to an impressive $1.5 billion, marking a significant 128% increase compared to the previous year. This remarkable feat underscores Kraken’s ability to navigate the volatile crypto market while capitalizing on growing customer demand. The financial release highlights that
In a noteworthy development for the cryptocurrency landscape, Kraken has unveiled its new onchain staking product specifically designed for American users. This initiative marks an important re-entry into the staking arena following a challenging period characterized by regulatory challenges and scrutiny. As of January 30, Kraken’s updated offering allows clients across 37 states and two
In a striking move that underscores the growing tensions between the cryptocurrency sector and regulatory bodies, Gemini, a prominent crypto exchange co-founded by Tyler and Cameron Winklevoss, has implemented a hiring ban on graduates from the Massachusetts Institute of Technology (MIT). This decision comes in light of MIT’s recent reaffiliation with Gary Gensler, the former
With the cryptocurrency space continuously evolving, the centralized exchange market witnessed significant changes throughout 2024, as articulated in a recent CCData report. The market dynamics not only highlight the struggles of prominent players such as Binance and OKX but also underscore the remarkable emergence of Crypto.com. Crypto.com has notably expanded its market share, ascending to
Amidst the continuously evolving world of cryptocurrency, compliance with regulations has become a critical focus, particularly in the European Economic Area (EEA). In a recent development, Crypto.com has announced the delisting of Tether’s USDT stablecoin along with nine other tokens by January 31, marking a significant shift in its operational strategy. As European authorities ramp
In a significant development, Coinbase has secured the necessary approvals to launch its cryptocurrency platform in Argentina, a move that signals the growing acceptance of digital currencies in the region. The registration as a Virtual Asset Service Provider (VASP) with Argentina’s National Securities Commission (CNV) marks a pivotal step for Coinbase, as detailed in their
On January 27, 2024, KuCoin, a prominent cryptocurrency exchange, entered a guilty plea regarding its operations as an unlicensed money-transmitting business. This plea came as part of a settlement with the U.S. Department of Justice (DOJ), emphasizing the exchange’s deficiencies in regulatory adherence. The case underscores the increasing scrutiny on cryptocurrency platforms, particularly about their
The cryptocurrency sector has witnessed exponential growth over recent years, leading to a vast influx of new tokens, innovations, and decentralized applications. At the forefront of this evolutionary surge is Coinbase CEO Brian Armstrong, who has expressed significant concerns regarding the existing processes for token listing. In a recent social media discourse, he emphasized that
