India’s Financial Intelligence Unit (FIU-India) is taking a strict stance on the compliance of offshore crypto exchanges operating in the country. The FIU is reportedly set to approve two more exchanges to resume operations by the end of the fiscal year. This decision comes after four exchanges were previously banned for non-compliance with anti-money laundering
Exchanges
Recent news has confirmed that Binance’s co-founder, Changpeng Zhao (CZ), is permanently barred from managing the crypto exchange. Despite initial reports suggesting a three-year ban, CEO Richard Teng clarified that the ban is permanent. This means that CZ will never be able to resume a leadership role at the platform. However, as the largest shareholder
A recent decision by a federal judge has dealt a significant blow to Coinbase, the leading US cryptocurrency exchange. The judge rejected Coinbase’s motion to dismiss a class action lawsuit filed by shareholders, accusing the company of downplaying the risk of being sued by the US Securities and Exchange Commission (SEC). The lawsuit, filed by
Following the theft of over $235 million from Indian crypto exchange WazirX, the hacker responsible has managed to transfer around $10 million through the sanctioned Tornado Cash in the past 24 hours. This move has raised concerns within the crypto community, as it indicates potential challenges in tracking and recovering the stolen funds. The hacker’s
Binance CEO Richard Teng has spoken out against the Nigerian government’s treatment of Tigran Gambaryan, an American executive who has been detained since February. Teng expressed his outrage in a post on X, where he shared a viral video of Gambaryan struggling to walk into a courtroom. Teng demanded an end to the inhumane treatment
WazirX has initiated the second phase of its fiat currency withdrawal process ahead of schedule on Sept. 3. Initially planned to start on Sept. 9, the process has been expedited due to the urgent need to address the aftermath of a substantial security breach that resulted in the loss of over $230 million in user
The data from DefiLlama and The Block revealed that decentralized exchanges (DEX) experienced a decline in spot trading volume last month, dropping by 9% on a monthly basis. This decrease stands in contrast to the growth of approximately 8% seen in centralized exchanges during the same period. The volume ratio between DEX and centralized exchanges
Tigran Gambaryan, a Binance executive detained in Nigeria on money laundering charges, made a fresh bail request on medical grounds during his court appearance on September 2. His legal team cited his deteriorating health in prison as the basis for the application. They reported that his condition has worsened to the point where they cannot
OKX SG, a crypto exchange platform, has recently achieved a significant milestone by securing a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This achievement highlights the growing importance of Singapore as a global digital asset hub and showcases OKX SG’s commitment to the local community and ecosystem. Obtaining an MPI
The recent $235 million hack of WazirX has raised many concerns and questions regarding the operations and ownership of the exchange. Co-founder and CEO Nischal Shetty has come forward to address some of these growing concerns. In response to inquiries on social media, Shetty revealed that he is still running the exchange “on their [owners]