On December 16, FTX and its affiliated debtors laid the groundwork for a momentous phase in their journey towards reorganization. Set to take effect on January 3, 2025, the distribution of funds aims to restore a portion of the financial losses suffered by creditors. This reorganization plan is crucial, as it marks a strategic pivot
Exchanges
The cryptocurrency sector has been rife with legal battles and financial turmoil, and the latest episode involves Celsius Network, a bankrupt crypto lender, appealing a ruling that disallowed its substantial claim against the collapsed exchange, FTX. Filed on December 31, this appeal marks an escalating clash between two companies that were once key players in
In a significant development for the cryptocurrency landscape, Binance, the preeminent global exchange in terms of trading volume, has secured approval from the Central Bank of Brazil to acquire Sim;paul, a licensed broker-dealer. This move not only marks Binance as the first cryptocurrency exchange in Brazil to obtain such a license but also reflects the
In a significant move, Malaysia’s Securities Commission (SC) has ordered cryptocurrency exchange Bybit, along with its CEO Ben Zhou, to halt all operations in the country. This directive stems from Bybit’s failure to secure the necessary authorization to function as a digital asset exchange (DAX) as stipulated by Malaysian regulations. The SC’s firm stance underlines
In a groundbreaking move set to debut in January 2025, Bitget Wallet has announced its commitment to empower users with multi-chain gas payments through its new GetGas feature. This initiative aims to simplify the complexities associated with transacting across various blockchains, encompassing well-known platforms like Ethereum, Solana, BNB Chain, Polygon, Base, Arbitrum, Optimism, TON, and
Sam Bankman-Fried, the once-revered founder of the cryptocurrency exchange FTX, has recently faced an unfavorable ruling in his attempt to overturn his conviction related to the exchange’s dramatic collapse. Following his trial, which garnered significant public and media attention, Bankman-Fried was convicted on multiple counts of fraud and conspiracy, leading to his sentencing by the
WazirX, one of India’s leading cryptocurrency exchanges, finds itself in increasingly turbulent waters following a new order from the Delhi High Court for a thorough investigation into its operations. On December 18, coinciding with the announcement from Binance regarding the delisting of WazirX’s native token, WRX, concerns surrounding the platform have escalated dramatically. The court’s
In a significant development within the Australian financial landscape, the Australian Securities and Investment Commission (ASIC) has initiated a lawsuit against Oztures Trading Ltd, the entity responsible for Binance Australia Derivatives. This legal action underscores the regulator’s increasing scrutiny over the practices of cryptocurrency exchanges operating within its jurisdiction. ASIC has raised serious concerns regarding
Coinbase’s latest transparency report sheds light on the dynamic relationship between cryptocurrencies and law enforcement agencies worldwide. The report revealed that in the past year, the platform received a total of 10,707 requests from governmental and law enforcement authorities, marking a significant yet modest decline of 18% compared to the previous year. This trend suggests
The ongoing legal confrontation between Coinbase and BiT Global regarding the delisting of wrapped Bitcoin (WBTC) presents a riveting narrative that encapsulates the complexities of the cryptocurrency market. This conflict not only highlights the legal strategies of both parties but also delves into significant concerns about trust, market integrity, and the responsibilities of crypto exchanges
