The world’s largest cryptocurrency exchange by trading volume, Binance, flooded with withdrawals on Monday following several news stories about the controversy among the Department of Justice (DOJ) charges. In addition, Binance native token BNB has experienced significant declines in its market cap. According to the CoinDesk report, Binance’s net outflows
Last week, Brian Armstrong, CEO of cryptocurrency exchange Coinbase, predicted that the company’s income for 2022 will be “50% or less” than that of 2021. COIN hit a new low of $39.65 at the start of trading this Monday. The price has fallen 60% from its all-time high of $98
Bybit, another major cryptocurrency exchange, has joined the chorus of its peers calling for more openness in the wake of the FTX disaster. Its Merkle Tree-based proof-of-reserve technology was disclosed to the public on December 12. Through this new endeavor, Bybit’s users will be able to independently check the exchange’s
The biggest cryptocurrency exchange by trading volume, Binance, has replied to a Reuters piece saying the U.S. Department of Justice (DOJ) uncovered solid evidence of breaking U.S. sanctions, namely anti-money laundering laws. Binance has responded to Reuters’ allegations. By saying that their platform is well-protected against any instances of money
OKCoin Japan, a major exchange in the country and a branch of the global digital asset business OK Group, has announced that it would be listing Shiba Inu (SHIB) three days after first hinting at doing so. OK Group is a leader in blockchain technology development and service provision. OKCoin,
Binance Labs, the venture capital arm of the biggest cryptocurrency exchange in the world, has announced it would lead a private round II for GoPlus Security. A move that is in line with the company’s aggressive investment ambitions despite the current bear market. Not much is known about the investment’s
Despite the world’s largest centralized cryptocurrency exchange Binance’s efforts to boost transparency, its reserves also revealed warning signs in the exchange’s finances. Binance has lack information regarding the exchange’s business structure and its funds are still a mystery, as per the WSJ report. Last month, Binance partnered with the global
The valuation of Chipper Cash, one of the numerous African fintech businesses funded by the now-defunct FTX, fell from $2 billion to $1.25 billion after the company received investment from the now-defunct crypto exchange. Even as this news broke, reports emerged that Chipper Cash had laid off as many as
While the recent large purchases on Binance are a positive indication for cryptocurrencies, they have caused some alarm in the cryptocurrency world. Since the 3Commas API was leaked, worries have arisen that Binance may be hacked. The cryptocurrency exchange, however, has said that it does not seem to be a
Former Alameda Research CEO Caroline Ellison has engaged a former official of the Securities and Exchange Commission (SEC) and law firm WilmerHale to defend her in connection with the continuing investigation into the fatal demise of the cryptocurrency exchange FTX and its trading business Alameda Research. While at the SEC,
