Binance, the leading cryptocurrency exchange in terms of trading volume, recently announced that it successfully prevented over $2.4 billion in potential user losses from scams and fraud in the first seven months of 2024. A significant portion of these averted losses, over $1.1 billion, were related to withdrawals associated with suspected crypto scams. Thanks to
Strategy
Recently, German authorities seized $28 million in cash and shut down 13 crypto ATMs as part of a nationwide effort to combat unlicensed activities within the cryptocurrency market. The Federal Financial Supervisory Authority (BaFin) spearheaded this operation, working closely with law enforcement and the German central bank to crack down on unauthorized crypto ATM operations.
Binance has recently achieved a significant regulatory milestone by registering with India’s Financial Intelligence Unit (FIU-IND). This move, as reported on Aug. 15, marks an important step for the crypto trading platform in expanding its compliance to 19 jurisdictions, the highest number among similar platforms. The registration with FIU-IND underscores Binance’s commitment to upholding anti-money
The landscape of Bitcoin ownership has drastically changed over the past few years, with institutions and governments now dominating the top holder list for the cryptocurrency. Private holders, excluding Bitcoin creator Satoshi Nakamoto, have been largely eliminated from the list. This shift towards institutional ownership has significant implications for the market and the future of
Following the recent $235 million hack on Indian crypto exchange WazirX, the exchange has decided to terminate its asset custody arrangement with Liminal. In an effort to enhance the security of its remaining assets after the breach, WazirX announced on Aug. 14 that it would be moving its assets from Liminal to new multi-signature (multi-sig)
US Senator Cynthia Lummis (R-WY) recently introduced the “Boosting Innovation, Technology, and Competitiveness through Optimized Investment Nationwide (BITCOIN) Act” in the Senate with the aim of supercharging the US dollar and paying down the national debt through the establishment of a strategic Bitcoin reserve. The BITCOIN Act proposes the creation of a Strategic Bitcoin Reserve
Goldman Sachs CEO David Solomon recently expressed his views on Bitcoin, stating that it could “very well” serve as a store of value similar to gold. While Solomon acknowledged the potential of Bitcoin as a store of value, he maintained a cautious stance towards the flagship cryptocurrency, viewing it primarily as a speculative investment with
Senator Cynthia Lummis recently introduced groundbreaking legislation at the Bitcoin2024 conference, aiming to establish a Bitcoin strategic reserve for the US. This reserve would total at least 1 million BTC, representing 5% of the total global supply. The announcement, made following former President Donald J. Trump’s keynote speech at the conference, has sparked significant interest
Marathon Digital, formerly known as MARA, has recently made waves in the cryptocurrency world by announcing a huge investment of $100 million in Bitcoin. This investment showcases the mining giant’s confidence in the long-term potential of the pioneering cryptocurrency. Despite previous price drops in BTC, Marathon Digital has taken advantage of the market conditions to
Robert Kennedy Jr., an independent candidate for the US presidency, has recently unveiled a groundbreaking financial policy plan during the industry day of the annual Bitcoin conference in Nashville, Tennessee. This plan aims to position the United States as the world’s largest holder of Bitcoin, with the strategic acquisition of Bitcoin valued at $619 billion