The recent exclusive report by The Wall Street Journal shed light on some troubling allegations surrounding Binance, the world’s largest crypto exchange. The report revealed that the head of Binance’s market surveillance team was fired after raising concerns about potential market manipulation by a high-profile client. This client, DWF Labs, was said to have engaged
Exchanges
The decision by Japanese exchange Coincheck to join Coinbase as one of the two publicly listed exchanges in the United States has raised eyebrows among investors. The move to go public via a special purpose acquisition company (SPAC) has sparked concerns about the potential risks involved in this strategy. Coincheck is expected to complete its
Binance CEO Richard Teng has spoken out against the detention of Tigran Gambaryan, a key executive of the exchange, in Nigeria. Teng described the situation as unjust and worrisome, setting a dangerous precedent for companies globally. He emphasized that inviting employees for policy discussions and then detaining them is unacceptable. Tigran Gambaryan, a US citizen
The recent crackdown on crypto firms by the Securities and Exchange Commission (SEC) has raised concerns about how the regulatory landscape may inadvertently be favoring US crypto exchange Coinbase. Bitwise Investments CIO Matt Hougan pointed out in a social media post that the current regulatory environment is creating an “artificial moat” for Coinbase’s operations, potentially
Recently, six Coinbase customers took legal action against the popular cryptocurrency exchange, Coinbase Global, along with its subsidiaries and CEO, Brian Armstrong. The class-action lawsuit, filed on May 5, makes the bold claim that the digital assets offered on Coinbase are, in fact, securities. This includes well-known tokens such as Solana, Polygon, Near Protocol, and
The recent guilty plea of Russian national Alexander Vinnik, the operator of the infamous crypto exchange BTC-e, sheds light on the dark underbelly of the cryptocurrency world. Vinnik’s involvement in money laundering activities through BTC-e, which was one of the largest crypto exchanges globally between 2011 and 2017, highlights the ease with which illicit funds
Coinbase recently announced a staggering revenue of $1.64 billion in the first quarter, surpassing the initially expected $1.34 billion. This remarkable surge in revenue coincided with a robust Bitcoin rally that has made a significant impact on the entire crypto market. The company’s earnings per share were reported at $4.40, well above the average analyst
The current landscape of the cryptocurrency industry is undergoing a significant transformation, with the emphasis on compliance becoming more crucial than ever. Former Binance CEO, Changpeng Zhao, recently highlighted the importance of adhering to regulatory guidelines, stating that “compliance is super important.” This acknowledgment comes after Zhao’s own legal troubles and subsequent sentencing to four
In a recent turn of events, Binance’s co-founder and former CEO, Changpeng ‘CZ’ Zhao, submitted a letter of apology to the court on April 24. This letter comes after Zhao pleaded guilty to criminal charges earlier this year, expressing regret and accepting full responsibility for his actions. This article delves into the details of Zhao’s
FTX creditors have recently been given the chance to participate in an auction of the defunct exchange’s remaining Solana token holdings. This marks a shift from previous sales directly to larger venture capital firms such as Galaxy Digital and Pantera Capital. The opportunity was highlighted by Sunil Kavuri, a well-known FTX creditor, who urged retail