In a decisive move reflecting the European Union’s ongoing efforts to curb financial flows supporting Russia’s military operations, Garantex, a crypto exchange based in Russia, has become the focus of targeted sanctions. Announced on February 24, as part of the EU’s 16th sanctions package in response to the Ukraine crisis, this action highlights the growing
Exchanges
Citadel Securities, a significant player in the financial markets, is reportedly setting its sights on the burgeoning world of cryptocurrency market making. According to a recent Bloomberg News report, the firm is exploring opportunities to enhance liquidity on well-known cryptocurrency exchanges such as Coinbase, Binance, and Crypto.com. This strategic move appears to be aimed at
The crypto landscape has always been vibrant, tumultuous, and fraught with risks—both financial and reputational. This volatility has recently come to the forefront with OX.FUN, a crypto derivatives exchange tied to the controversial founders of the now-defunct Three Arrows Capital, Su Zhu and Kyle Davies. The exchange faces serious allegations of financial misconduct, compelling the
In a disturbing revelation, the cryptocurrency exchange ByBit has reported a catastrophic security breach that resulted in the theft of approximately $1.5 billion in Ethereum (ETH). This event, which unfolded on February 21, marks one of the most significant hacks in the cryptocurrency landscape. The platform announced via social media that unauthorized activities were detected
The collapse of the cryptocurrency exchange FTX sent shockwaves throughout the global financial landscape. As the dust begins to settle, representatives from the FTX Creditors’ group, like Sunil Kavuri, are focused on addressing the pressing issue of compensating creditors from various countries. Countries such as Russia, China, Egypt, Nigeria, and Ukraine have been identified as
In 2024, the cryptocurrency exchange Kraken witnessed a notable surge in data requests from law enforcement and regulatory entities, according to their latest transparency report. The exchange faced a staggering 6,826 requests, marking a significant 38.6% increase compared to the previous year. This trend raises critical questions about the intersection of cryptocurrency, privacy, and regulatory
The cryptocurrency landscape has always been dynamic, characterized by rapid price fluctuations and an influx of speculation. Recently, Coinbase CEO Brian Armstrong issued a stark warning concerning the illegalities creeping into the memecoin domain, specifically highlighting the troubling rise of insider trading. Armstrong’s remarks, made via a post on X on February 19, 2023, signify
In a pivotal move for its U.S. clientele, Binance.US has reintroduced the ability to deposit and withdraw U.S. dollars, a service that had been halted for several months as the platform shifted to a crypto-only model. As of February 19, the company confirmed that users can now engage in fee-free bank transfer transactions (ACH) for
In a significant development that has sent shockwaves through the cryptocurrency sector, Nigeria’s Federal Inland Revenue Service (FIRS) has launched a blistering legal assault on Binance Holdings Limited, seeking an astonishing $81 billion in unpaid taxes and penalties. This staggering figure comprises approximately $79.5 billion claimed in economic damages and an additional N231 million (about
In an alarming effort to exploit unsuspecting individuals, the cryptocurrency sector is facing an insidious scam dubbed the “share-seed-phrase” scheme. Richard Teng, the CEO of Binance, recently sounded the alarm on this treacherous tactic, which preys on the vulnerabilities associated with digital currencies. Scam artists are now masquerading as cryptocurrency experts, tricking victims into believing
