Kenyan authorities are preparing to extradite Nadeem Anjarwalla, a Binance executive wanted by the Nigerian government. Anjarwalla was apprehended in Kenya after a coordinated effort involving the EFCC, Nigeria Police Force, Kenya Police Service, FBI, and INTERPOL. Following his arrest, reports indicate that he will be extradited to Nigeria to face charges related to tax
Exchanges
Crypto exchange HashKey recently announced that it will be ending support for Binance-related transactions next month. This decision comes as part of a change in policy, although specifics of the new rules have not been disclosed. The Hong Kong-based platform will restrict deposits from Binance starting on May 10 and will completely cease support for
On April 18, the troubled FTX exchange made a bold move by emptying its FTT treasury account to a new wallet address. The transferred assets from the FTT Treasury wallet included 195.87 million FTT tokens valued at approximately $247 million, 1,938 ETH valued at around $6 million, and 6.36 million JOE tokens worth $3.25 million.
Binance, a leading cryptocurrency exchange, recently made a significant move by converting its Secure Asset Fund for Users (SAFU) into Circle’s USD Coin (USDC) stablecoin. This conversion was confirmed through on-chain data, showcasing the company’s commitment to enhancing the reliability and stability of SAFU by utilizing a trusted, audited, and transparent stablecoin like USDC. USDC
A recent analysis conducted by Bybit, a prominent crypto exchange, has raised concerns about a potential shortage of Bitcoin on exchanges by the end of 2024. The report highlights that if the current demand for Bitcoin continues at its current pace, reserves could be completely exhausted within the next nine months, with an approximate withdrawal
Recently, US Senators Elizabeth Warren and Charles Grassley have taken action to demand a comprehensive account of all interactions between Commodity Futures Trading Commission (CFTC) Chair Rostin Behnam and notorious crypto mogul Sam Bankman-Fried (SBF). This initiative comes in the wake of Bankman-Fried’s severe sentencing to 25 years in prison for defrauding investors of $8
The Financial Crimes Enforcement Network (FinCEN) of the US Department of the Treasury has recently commended the popular crypto exchange Coinbase for its significant role in aiding major criminal investigations. Through a letter addressed to Coinbase CEO Brian Armstrong, FinCEN highlighted how the exchange has assisted law enforcement efforts through its compliance and reporting practices.
In recent news, a Nigerian High Court in Abuja made the decision to detain Tigran Gambaryan, an executive at Binance, amidst allegations of money laundering. Despite Gambaryan pleading not guilty to the charges, the court ordered him to be remanded in prison until his bail hearing on April 18. The trial is set to begin
FTX creditors are expressing strong disapproval of the bankrupt crypto exchange’s decision to sell its Solana holdings at a significant discount to crypto venture firms. The offloading of 30 million SOL at a rate of $64 each to VC firms like Pantera Capital and Galaxy Trading represents a substantial 62% markdown from the current market
The recent criminal charges faced by the cryptocurrency exchange Binance in Nigeria have brought to light the lack of legal representation the company had during its court hearing on April 4. Surprisingly, only the compliance chief, Tigran Gambaryan, was present at the hearing, despite being detained by the Nigerian government since February. The hearing, which