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
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In a pivotal move for the digital asset landscape, South Korea is gearing up to introduce regulatory measures aimed at enhancing the oversight of cross-border cryptocurrency transactions. As reported by Reuters on October 25, the Ministry of Finance has announced that these regulations are slated to begin in late 2025, signaling a significant step towards
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
The crypto scene in South Korea is facing a significant crisis as over 33,000 investors find themselves locked out of their digital assets, totaling around $13 million. This predicament stems from the recent closure of several cryptocurrency exchanges in the country, driven primarily by the implementation of the Virtual Asset User Protection Act. As reported
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 significant move to navigate the murky regulatory landscape surrounding cryptocurrencies in the United States, Coinbase has submitted two new Freedom of Information Act (FOIA) requests on October 18. This initiative represents the exchange’s ongoing efforts to demand accountability and transparency from financial regulators as they set forth regulations impacting the digital asset industry.
This past week, Bitcoin has experienced remarkable momentum, soaring by 10% to re-establish itself above the $67,000 threshold. Such a movement not only marks a significant price point but also reflects the broader market dynamics that are driving investor sentiment. The Coinmarketcap Fear and Greed Index has notably pivoted towards greed, shedding light on the
The emergence of stablecoins marks a significant transformation in the financial landscape, promising enhanced transaction efficiencies and the opportunity to manage fiscal deficits. Recently, Senator Bill Hagerty (R-TN) has taken a notable step towards realizing this potential by proposing new legislation aimed at establishing a clear regulatory framework for stablecoin issuers. This initiative, which comes
Arkham Intelligence is gearing up for an ambitious launch as it prepares to unveil its own cryptocurrency derivatives exchange. Scheduled for next month, this development has the potential to shake up the market significantly. A recent report from Bloomberg News highlighted a growing interest in Arkham, and the news sparked a remarkable 12% increase in
In 2016, Bitfinex, one of the leading cryptocurrency exchanges, experienced a significant security breach that resulted in the theft of around 120,000 BTC. This incident marked a pivotal moment in the cryptocurrency space, amplifying concerns regarding the security protocols of digital asset platforms. Fast-forward to recent governmental filings, which indicate that Bitfinex may be the