OKX SG, the Singaporean entity of the crypto exchange OKX, made a significant move by obtaining a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This license is highly coveted in Singapore as it allows businesses to operate without daily or monthly transaction limits. Companies seeking this license must meet specific
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Former FTX executive Ryan Salame recently withdrew his petition to dismiss the indictment against Michelle Bond just days before a critical court hearing. This move came as a surprise to many, as it was originally believed that Salame would continue to fight against the charges. The legal drama surrounding their case adds a layer of
Recently, both Binance and Bybit have dropped hints about launching new products related to Solana. This has led to speculation within the crypto community about the possibility of these exchanges entering the Solana liquid staking market. Binance’s official X account posted a cryptic message with “BNSOL” followed by “coming soon,” while Bybit announced the introduction
The recent $234 million hack on the crypto platform WazirX has prompted the company to enter an initial 30-day moratorium as of August 28. This decision, pending approval from Singapore’s High Court for an extension, comes in light of the challenges faced by the platform following the security breach. Rival platform CoinSwitch has announced its
The US government has responded to former FTX executive Ryan Salame’s attempt to void his guilty plea, asserting that his claims of false promises from prosecutors are unfounded. The US Attorney’s Office has stated that Salame’s allegations are “demonstrably false” and have emphasized that the charges against Salame’s partner, Michelle Bond, are separate and ongoing.
Indian cryptocurrency exchange WazirX has recently faced significant challenges following a major security breach on July 18. The exchange has expressed concerns that external parties not invested in the platform may be attempting to prolong its restructuring process for their own gains. These parties are allegedly creating and maintaining “uncertainty” rather than working towards a
A US federal judge has denied crypto exchange Kraken’s request to dismiss the lawsuit filed by the Securities and Exchange Commission (SEC) over allegations of operating an unregistered securities exchange, despite Kraken’s argument that the SEC’s allegations are unfounded. The decision comes after Kraken requested a dismissal of the case filed by the SEC in
Coinbase has made an announcement regarding its support for the Ethereum layer-2 network, specifically for the planned token upgrade from MATIC tokens to the new Polygon Ecosystem Token (POL). Scheduled to begin on Aug. 26, the migration from MATIC to POL aims to streamline transactions on the network and enhance user experience. During the migration
In a recent announcement, Binance, the leading cryptocurrency exchange in terms of trading volume, revealed that it successfully prevented over $2.4 billion in potential user losses from scams and frauds in the first seven months of 2024. The exchange reported that a significant portion of these averted losses, approximately $1.1 billion, were related to withdrawals
After falling victim to a $235 million hack, Indian crypto exchange WazirX has taken decisive action to bolster the security of its remaining assets. The exchange has terminated its asset custody agreement with Liminal and has begun transferring assets to new multi-signature (multi-sig) wallets. This move is seen as essential in safeguarding the assets in