Binance.US has been under fire lately due to its lack of compliance with regulations, which has led to a decrease in users’ trust in its services. The platform’s association with the global Binance exchange has only heightened regulatory scrutiny, resulting in a record fine settlement with US authorities in 2023. This has prompted the need
Exchanges
The recent analysis conducted by Bybit has brought to light a concerning issue in the world of cryptocurrency – a potential shortage of Bitcoin on exchanges by the end of 2024. The report indicates that if demand continues at its current pace, reserves could be completely depleted within the next nine months, with withdrawal rates
Recently, US Senators Elizabeth Warren and Charles Grassley have raised concerns regarding potential regulatory failures in the aftermath of Sam Bankman-Fried’s sentencing for defrauding investors of $8 billion through his collapsed crypto exchange, FTX. In an April 12 letter to Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam, the senators requested a detailed account of
The Financial Crimes Enforcement Network (FinCEN), a part of the US Department of the Treasury, recently praised cryptocurrency exchange Coinbase for its vital role in major criminal investigations. In a letter to Coinbase CEO Brian Armstrong, FinCEN commended the exchange’s compliance and reporting practices that have assisted law enforcement efforts significantly. This recognition comes at
Following the issuance of a Wells notice by the US Securities and Exchange Commission (SEC) to Uniswap Labs, the entity behind the Uniswap decentralized exchange, trading activity on the platform experienced a significant dip of almost 10% in just one day. Data from DeFillama revealed that Uniswap had facilitated trades amounting to $2.7 billion across
Bitget, a cryptocurrency exchange registered in Seychelles, has seen rapid growth since its establishment in 2018. With over 25 million registered users globally and a daily trading volume exceeding $10 billion USDT, Bitget has solidified its position as the world’s largest crypto copy trading platform. The exchange boasts a diverse team of over 1,300 employees
In a recent turn of events, a Nigerian High Court in Abuja has taken a stringent stance in the case of the detained Binance executive, Tigran Gambaryan. Following the postponement of his bail hearing, Gambaryan, a US citizen, was ordered to be remanded in prison. He has pleaded not guilty to money laundering charges and
The decision by the bankrupt crypto exchange FTX to sell its Solana holdings at a significant discount to crypto venture firms has sparked strong disapproval from creditors. Reports recently emerged revealing that FTX sold 30 million SOL at a rate of $64 each to VC firms such as Pantera Capital and Galaxy Trading. This marked
The recent court hearing involving crypto exchange Binance in Nigeria shed light on the lack of legal representation for the company. Despite facing criminal charges, Binance was represented solely by its compliance chief, Tigran Gambaryan, at the court hearing on April 4. This lack of legal representation could potentially impact the outcome of the case
After several promises made by Coinbase CEO Brian Armstrong, the US-based crypto exchange is finally making strides towards integrating the Bitcoin Lightning network. In a recent statement on April 3, Lightspark, a lightning network-based payment infrastructure provider, announced its partnership with Coinbase to facilitate the integration process. This partnership involves Coinbase leveraging Lightspark’s remote-key signing