FTX, the cryptocurrency trading platform that suffered a catastrophic collapse in November 2022, has charted a hopeful course towards recovery. In an announcement that comes as a sigh of relief to countless creditors and customers, FTX and its associated debtors revealed they are aiming to finalize their Chapter 11 Plan of Reorganization by January 2025.
Exchanges
In 2019, the Upbit exchange experienced one of the most significant cyberattacks in the cryptocurrency realm, resulting in the theft of 342,000 Ethereum (ETH). This brazen heist, connected to North Korean hacker groups Lazarus and Andariel, exposed vulnerabilities in the security infrastructure of cryptocurrency platforms. As the dust settles years later, South Korean authorities have
On December 19, Coinbase plans to remove Wrapped Bitcoin (WBTC) trading pairs from its exchange as well as its Prime platforms. This move has raised eyebrows within the cryptocurrency community, particularly because the company did not clarify how WBTC failed to meet its listing standards. Despite the delisting, users will still have the ability to
In a significant development within the cryptocurrency arena, Binance has unveiled a new yield-bearing stablecoin named BFUSD, specifically tailored for futures and perpetual traders. Announced on November 18, this stablecoin aims to reshape the trading experience by offering an enticing annual percentage yield (APY) of approximately 19.55%. This yield enables users to earn rewards daily
The cryptocurrency landscape is evolving rapidly, with various entities vying for significant market share. One of the most notable developments is President-elect Donald Trump’s media firm, Trump Media and Technology Group (TMTG), reportedly negotiating an acquisition of Bakkt, the crypto trading platform owned by Intercontinental Exchange (ICE). This strategic move highlights the intertwining of media
In the evolving realm of cryptocurrency, regulatory compliance is crucial to ensuring safe and secure financial environments. Recently, the South Korean government uncovered alarming Know-Your-Customer (KYC) violations linked to Upbit, the nation’s largest cryptocurrency exchange. These findings signal not just specific issues with Upbit, but also wider implications for the cryptocurrency regulatory environment in South
In a startling revelation within the cryptocurrency industry, the Delhi Police have made headway in their investigation into a significant security breach at WazirX, a prominent crypto exchange. This incident, which has resulted in a staggering loss estimated at $235 million, raises pressing questions about user security and the responsibilities of digital asset custodians. The
In the aftermath of the recent U.S. elections, Binance has observed a staggering influx of capital, exceeding an astonishing $7 billion since November 5, as reported by CryptoSlate on November 12. This dramatic surge casts a spotlight on the platform’s resilience and popularity, particularly in comparison to its competitors. While OKX garnered notable inflows, totaling
In the ever-evolving world of cryptocurrency, volatility often leads to dramatic shifts in market dynamics. Recently, Binance, the preeminent cryptocurrency exchange globally by trading volume, has come under fire for its listing of two Solana-based memecoins: The AI Prophecy (ACT) and Peanut the Squirrel (PNUT). Following these listings on November 11, the market witnessed an
In a recent statement, Coinbase’s CEO Brian Armstrong expressed his strong endorsement for Hester Peirce to take the helm of the Securities and Exchange Commission (SEC) during the potential second term of President Donald Trump. Armstrong emphasized Peirce’s intellect, fairness, and professionalism, while asserting that her capabilities could foster collaboration across the political divide. This