Recent data from Glassnode indicates that the balances of Bitcoin and Ethereum on centralized exchanges have dropped to record lows. Bitcoin balances on exchanges are currently at 11.6%, the lowest since December 2017, while Ethereum balances have hit 10.6%, the lowest since October 2015. The decline in exchange balances has been attributed to the introduction
Exchanges
Gemini exchange recently announced that users of its Earn product, which had been shut down, received $2.18 billion worth of their digital assets. This amount represents 97% of the total assets owed to Earn users, marking a significant recovery since the collapse of Genesis, a crypto lender that ceased withdrawals in November 2022. The exchange
The Rehabilitation Trustee of the now-defunct crypto exchange Mt. Gox has recently confirmed that it has not sold its significant Bitcoin holdings, despite transferring over 140,000 BTC (approximately $10 billion) today. The trustee has emphasized that preparations to repay creditors are currently in progress. According to a statement released on May 28, the bankruptcy process
The Nigerian High Court recently adjourned the money laundering trial against Binance and its executive, Tigran Gambaryan, to June 20. This decision was made in light of Gambaryan’s health concerns, as reported by the Economic and Financial Crimes Commission (EFCC). The defense counsel, led by Mark Mordi, informed the court of his client’s ill health
Ben Zhou, the CEO of Bybit crypto exchange, has vehemently refuted rumors circulating on social media regarding the alleged insolvency of the exchange. In response to these claims, Zhou stated that the rumors lacked any factual basis and urged the public to be cautious when believing such unfounded allegations. To support his dismissal of the
The recent decision by the First District Court of Appeals in Florida to nullify an Emergency Suspension Order (ESO) issued by the Office of Financial Regulation against Binance.US has sparked a wave of discussions in the crypto community. Earlier this year, the regulator banned Binance.US from serving Florida residents, citing “immediate danger” to the public
Following a system-wide outage that lasted over three hours, Coinbase claimed to have resumed operations. However, numerous customers took to social media to dispute this claim, stating that they were still unable to withdraw their funds. One user, Nigel Dias, shared his experience of trying to send his crypto only to be met with a
The recent report by The Wall Street Journal regarding Binance, the world’s largest crypto exchange, raises serious concerns about the ethical practices within the company. The allegation that Binance fired its head of market surveillance after he raised concerns about potential market manipulation by a high-profile client is troubling. The fact that the surveillance team
Japanese cryptocurrency exchange Coincheck has made waves in the industry with its announcement to become publicly listed on the Nasdaq. This move comes as a result of a partnership with special purpose acquisition company Thunder Bridge Capital Partners IV (THCP), which will allow Coincheck to bypass the traditional initial public offering process. While Coincheck’s decision
The recent arrest and detention of Tigran Gambaryan, an executive at Binance, has sparked outrage and raised concerns about the treatment of foreign employees in Nigeria. Binance CEO Richard Teng has called for the release of Gambaryan, citing the unjust nature of his detention and the dangerous precedent it sets for companies operating globally. Gambaryan,