In a recent move that has sent ripples through the cryptocurrency community, Gemini, a prominent crypto exchange, has declared plans to terminate its operations in Canada by the close of 2024. Customers received an email notification on September 30, announcing that the exchange would wind down all Canadian accounts effective December 31, 2024, with limited
Exchanges
In a significant move reflective of the evolving regulatory landscape in Europe, cryptocurrency exchange Kraken has announced the cessation of support for Monero (XMR) within the European Economic Area (EEA). As stated in a release on October 1, trading and deposit functionalities for XMR will be halted effective October 31, 2024, at 15:00 PM UTC.
In the growing landscape of decentralized finance (DeFi), Ethena Labs has emerged as a key player with its innovative synthetic dollar, USDe. However, recent trends suggest that USDe is facing increasing market competition, necessitating strategic enhancements to bolster its position. Ethena Labs is currently exploring the introduction of a decentralized exchange (DEX) named Ethereal, proposed
Bithumb, recognized as South Korea’s second-largest cryptocurrency exchange, is poised to make a significant leap in its corporate trajectory with aspirations of launching a public offering in the United States. According to a report from local media outlet Dnews, Bithumb aims to explore the possibility of being listed on the Nasdaq, with a target timeline
In the realm of cryptocurrency, FTX was once a titan, heralded for its innovation and massive market presence. However, its abrupt fall from grace has become a cautionary tale about the potential consequences of mismanagement and unethical practices within the financial sector. The October 2022 bankruptcy of FTX revealed extensive financial mismanagement and fraud at
In July, WazirX, one of India’s leading cryptocurrency exchanges, fell victim to a staggering $230 million hack, triggering a cascade of turmoil within the organization and its user base. The immediate reaction from WazirX was to formulate a recovery plan, but the pathway to a hopeful resolution has been fraught with obstacles. Initially seeking a
As cryptocurrencies gain traction globally, the need for reliable exchange platforms becomes imperative. With countless exchange options available, the decision on where to buy and sell cryptocurrencies can be daunting. The crypto market is vast and dynamic, and each platform offers its unique set of features and services. Therefore, selecting the appropriate exchange could markedly
In recent years, the United Arab Emirates (UAE) has emerged as a significant player in the global cryptocurrency landscape. Recent findings from a Chainalysis report revealed that the UAE facilitated over $30 billion in crypto transactions from July 2023 to June 2024, positioning it within the top 40 countries for crypto activity. This unprecedented growth
In July, a significant breach at the Indian cryptocurrency exchange WazirX resulted in the theft of an astounding $230 million. Recent analysis indicates that the hacker is nearing completion of laundering these funds, leaving only $6 million worth of Ethereum (ETH) unaccounted for. Arkham Intelligence’s on-chain data reveals that the majority of these stolen assets
The financial landscape is ever-evolving, and BNY Mellon is poised to make a significant mark within the realms of cryptocurrency. Recent developments have spotlighted the bank’s ambitions as it prepares to step into the crypto custody arena, particularly focusing on Bitcoin and Ethereum exchange-traded funds (ETFs). Following an important exemption from the Securities and Exchange