Mon, February 10

Coinbase Announces Launch of Layer-2 Ethereum-based Network

Earlier today, Coinbase announced the release of Base, it’s very own layer-2 network built on Ethereum. According to the business, millions of new decentralized applications will be able to make use of Base. Since it will serve as an open ecosystem for Coinbase’s on-chain products. Moreover, according to Jesse Pollak,

February 23, 2023 2 mins read

Binance’s Entry Into South Korea Under Scrutiny by Regulators

The arrival of Binance, a major cryptocurrency exchange, into the South Korean market has caused concern among the country’s financial regulators. Binance, the biggest cryptocurrency exchange in the world, returned to South Korea on February 3. After a two-year absence by acquiring a controlling stake in the fifth-largest cryptocurrency exchange

February 23, 2023 2 mins read

New York Attorney Files Lawsuit Against CoinEx Over State Registration

Since the U.S. Securities and Exchange Commission’s (SEC) assault on crypto businesses, scrutiny of crypto players in the U.S. continues. In the latest development, an attorney from New York has filed a complaint with regulators over a cryptocurrency exchange. Global regulatory agencies stepped up their attempts to standardize crypto market

February 23, 2023 2 mins read

USDC Holdings by Binance on the Rise Amid Recent BUSD Event

The quantity of USD Coin (USDC) held on Binance has been increasing this week, as reported by Martin Lee, a data journalist for Nansen. Lee said on Tuesday through Twitter, that it is interesting to watch the number of USDC on Binance climb so much after the BUSD event.  According

February 22, 2023 1 min read

FTX Japan Announces Resuming User Withdrawals Today

After charges were hurled against the FTX’s former CEO, Sam Bankman-Fried, the ailing cryptocurrency exchange has gotten involved in controversies and scandals. In spite of the termination of its services on November 8, FTX Japan, the exchange’s Japanese branch, has lately indicated that it would respect withdrawals of client cash. 

February 21, 2023 1 min read

Huobi Global Applies For Crypto Trading License in Hong Kong

Market participants are making moves as Hong Kong’s officials attempt to restore the city’s status as Asia’s crypto powerhouse. Most recently, Huobi Global, headed by Justin Sun, revealed that it has sought a crypto trading license in Hong Kong. Huobi Global, the company behind the Huobi exchange, is also trying

February 20, 2023 1 min read

Hedge Fund Galois to Shut Down After Losing Funds in FTX

Today the world’s leading crypto hedge fund Galois Capital announced its closure after losing significant funds in the cryptocurrency exchange FTX collapse. Galois stated in a tweet, “Thank you all for the kind words. Yes, it is true that our flagship fund is shutting down”.  I appreciate the outpouring of

February 20, 2023 2 mins read

Crypto Exchange OKX Releases February Proof-of-Reserves Report

The most recent Proof-of-Reserves report shows that OKX is over-collateralized. With reserve ratios of 104% for bitcoin (BTC), 104% for ether (ETH), and 102% for USDT. Since its Proof-of-Reserves website went up at the end of last year. The exchange claims that more than 175,000 unique visitors have checked it

February 20, 2023 1 min read

Former FTX Exec Nishad Singh Reportedly To Plead Guilty

It has been reported that Nishad Singh, a former executive of the crypto exchange FTX, is to plead guilty to fraud charges related to the collapse of the exchange. Singh used to be the head of engineering and was considered to be in Sam Bankman-Fried’s inner circle. According to Bloomberg,

February 20, 2023 2 mins read

JPMorgan Lowers Coinbase Stock Price Objective From $60 to $52

According to a report released by JPMorgan on Friday, analysts have reduced their price objective for Coinbase (COIN) shares from $60 to $52. JPMorgan said that the key reasons for the change in view include the continuous regulatory concerns to the company’s digital-focused businesses such as staking, USDC stablecoin, and

February 19, 2023 1 min read