The recent partnership between Kraken and the Optimism Foundation marks a significant milestone in the evolution of layer-2 (L2) blockchain technology. By closing a $25 million deal aimed at integrating Kraken’s new L2 blockchain, Ink, into the Superchain ecosystem, the collaboration signals a powerful commitment to enhancing blockchain interoperability and utility. This initiative not only
Exchanges
On October 30, 2023, Nishad Singh, the former engineering director of the now-defunct cryptocurrency exchange FTX, received a sentence of time served and three years of supervised release for his involvement in a web of financial malfeasance. The legal proceedings against Singh highlight not just the personal accountability in the face of corporate failure, but
On October 30, Kraken, one of the leading cryptocurrency exchanges, revealed significant organizational changes, including a round of layoffs that affected approximately 15% of its workforce. This move, underscored by the appointment of Arjun Sethi as co-CEO, highlights the exchange’s efforts to refocus its operations and streamline its mission amidst the evolving landscape of the
In the tumultuous aftermath of FTX’s downfall, the role of insiders like Nishad Singh has become crucial in navigating the complex waters of asset recovery. As the exchange’s bankruptcy proceedings unfold, FTX CEO John J. Ray III recently advocated for Singh’s leniency, arguing that his cooperation is essential for maximizing recovery for creditors. This call
In a groundbreaking development in the realm of digital finance, Visa has forged a partnership with Coinbase to introduce immediate deposit services for customers leveraging eligible debit cards. Announced on October 29, this collaboration is positioned to revolutionize the funding of Coinbase accounts, allowing users to initiate real-time transactions that reflect increasingly dynamic market conditions.
In a noteworthy development within the cryptocurrency sector, FTX has successfully negotiated a $228 million settlement with the crypto exchange Bybit and its affiliates. This resolution is significant as it marks a crucial step in FTX’s ongoing attempts to recover funds during its bankruptcy proceedings, which commenced in November 2022. Given the tumultuous nature of
In an era characterized by heightened scrutiny and demand for accountability in the cryptocurrency sector, WazirX, a prominent Indian cryptocurrency exchange, has released a proof-of-reserves (PoR) report. This initiative, disclosed in a statement dated October 25, primarily aims to enhance transparency around the exchange’s holdings. Notably, the report reveals that over 40% of customer assets
In a significant development in the FTX scandal, former executive Nishad Singh has captured the attention of US prosecutors with his willingness to cooperate during the investigation into the failed cryptocurrency exchange. According to a recent court filing dated October 23, prosecutors are advocating for favorable consideration of Singh’s “substantial assistance,” emphasizing his earnest remorse
In a groundbreaking move for the crypto industry, Kraken has unveiled its plans for Ink, an Ethereum layer-2 network that leverages the Optimism Superchain. This announcement, made on October 24, highlights a pivotal shift for Kraken, moving away from its centralized exchange model to an innovative decentralized platform. The strategic vision behind Ink is to
In a significant turn of events, the Nigerian government has officially dropped all charges against Tigran Gambaryan, a high-ranking executive from Binance Holdings, who had been in detention since February 2024. This decision, announced on October 23 by the Economic and Financial Crimes Commission (EFCC) at the Federal High Court in Abuja, marks both an