KuCoin, a prominent cryptocurrency exchange, has recently faced legal challenges with US authorities, leading to a noticeable decrease in user assets on the platform. A proof-of-reserve certificate released by the exchange highlighted the sharp decline in user holdings, with Bitcoin balances dropping by 25.4% to 12,114 BTC in March. Similarly, Ethereum balances saw a decrease
Exchanges
Recently, Coinbase CFO Alesia Haas expressed her belief that Ethereum (ETH) should not be classified as a security. She highlighted the lack of regulatory clarity surrounding cryptocurrencies in the United States as the core issue. Haas emphasized the importance of a clear and consistent regulatory framework to protect consumers and companies like Coinbase. However, despite
CFTC Commissioner Caroline Pham recently expressed concerns about her agency’s charges against KuCoin, suggesting that they may infringe on the duties of the SEC. Pham acknowledged the enforcement action taken by the Division of Enforcement as aggressive, but raised questions about the interpretation of the allegations. Specifically, she pointed out that the complaint implies that
A recent report by Bloomberg News revealed that the US and UK governments have initiated a joint investigation into crypto transactions exceeding $20 billion that are suspected of violating Russian sanctions. These transactions are believed to have been channeled through the Russia-based crypto exchange Garantex with the alleged intention of circumventing international sanctions and potentially
Following the US authorities’ criminal charges against KuCoin, the embattled crypto exchange faced a surge in withdrawal requests from various categories of traders. Data from DefiLlama, Nansen, and SpotOnChain indicated a significant increase in withdrawals, including whales, funds, smart money, and market makers. During the reporting period, SpotOnChain reported withdrawals totaling around $500 million, with
Recent US criminal charges against KuCoin have raised concerns about the exchange’s operational stability. However, CEO Johnny Lyu has reassured users that their funds are safe and that the platform will continue to function without any disruptions. Despite facing allegations of flouting anti-money laundering laws, KuCoin remains confident in its ability to provide a secure
Recently, Binance announced that it would be ending support for Tron network-based USD Coin (USDC) stablecoins by April 5. This decision comes after Circle, the company behind USDC, decided to pull out of the Tron blockchain entirely. This news means that Binance users now have less than two weeks to withdraw their assets or convert
Binance, a prominent crypto exchange platform, recently confirmed that Nadeem Anjarwalla, one of its executives detained by Nigerian authorities, managed to escape custody. This escape comes amidst a turbulent time for the company, with Tigran Gambaryan, another detained executive and US citizen, remaining in custody. The authorities have leveled serious charges of tax evasion and
The recent EU anti-money laundering regulations (AMLR) have become a topic of heated debate, centering around the balance between combating financial crime and preserving citizens’ rights to privacy and economic freedom. The laws, approved by most of the EU Parliament’s lead committees, have drawn criticism and support from a variety of stakeholders. A recent article
The Solana community and the wider crypto ecosystem have recently been rocked by a surge in inflammatory memecoins, with names containing racist, antisemitic, and anti-China language. This trend has sparked outrage among members of the community, who have expressed their disdain for such offensive tokens. Solana founder and CEO Anatoly Yakovenko made a strong statement