Coinbase has publicly criticized the Securities and Exchange Commission (SEC) for their recent rejection of a rulemaking petition, going so far as to call the decision “arbitrary and capricious.” This scathing rebuke was delivered in a formal petition filed on Mar. 11 with the US Court of Appeals for the Third Circuit. In their petition,
Exchanges
Coinbase, the leading US-based cryptocurrency exchange, has experienced a significant increase in its market share recently. This surge can be attributed to the introduction of several spot Bitcoin exchange-traded funds (ETFs) in January. As a result, analysts at Goldman Sachs made a notable change in their rating on Coinbase shares. They upgraded the rating from
Bitcoin recently reached its all-time high of $69,000 on March 5th, 2022, only to experience a swift and sharp 14% correction shortly after, dropping its price to $59,300. The volatility in Bitcoin’s price led to record-breaking trading volumes on centralized exchanges, indicating heightened market activity and trader engagement. An analysis of Kaiko data by CryptoSlate
Crypto exchange Binance recently announced its decision to discontinue all services associated with the Nigerian local fiat currency, Naira (NGN). This move comes as a shock to Nigerian users who will no longer be able to access several NGN-related services on the platform. The exchange stated that NGN deposits have already ceased, and users have
Crypto exchange Coinbase faced yet another technical glitch on March 4, causing some of its users to see an empty balance in their accounts. This issue, which affected a small subset of users, led to intermittent zero balances across accounts and latency across pages. While trading was not impacted, it was still a cause for
Binance, a popular cryptocurrency exchange platform, has found itself in the midst of controversy in Nigeria following its settlement with the U.S. Department of Justice. The House of Representatives Committee on Financial Crimes in Nigeria has issued an ultimatum to Binance CEO Richard Teng to appear before the committee by March 4. The committee, led
The Nigerian government is considering imposing a hefty fine of $10 billion on cryptocurrency exchange Binance. Reports suggest that Bayo Onanuga, the special adviser to the Nigerian president, accused Binance of profiting from facilitating illegal transactions in the African country, causing significant financial losses. Onanuga stated that the proposed fine is a form of retribution
The Chamber of Digital Commerce recently filed an amicus curiae in support of crypto exchange Kraken in the ongoing lawsuit brought forth by the US SEC. This move by the Chamber is aimed at halting the SEC’s attempts to regulate the digital asset industry through enforcement without proper legislative authority. According to the Chamber, the
After withdrawing its initial application for a Virtual Asset Trading Platform (VATP) license in Hong Kong, crypto exchange HTX, formerly known as Huobi, has resubmitted its application. The initial application was filed through its Hong Kong subsidiary Huobi HK on Feb. 20, but was retracted on Feb. 23 without any explanation. However, the latest update
Following the suspension of its website and trading application on Feb 23, Hong Kong-based crypto exchange BitForex has left users in the dark. With over $2 billion in trading volume as recently as Feb 24, the sudden disappearance of the exchange has raised eyebrows. Data analysis suggests that BitForex may have inflated its volumes by