The notorious 2016 Bitfinex hack remains fresh in the minds of cryptocurrency enthusiasts, not only for the staggering amount stolen—approximately 120,000 BTC—but also for the complex legal and financial repercussions that followed. Recent U.S. government filings indicate potential developments regarding restitution related to this high-profile incident, casting Bitfinex as the primary victim and narrowing the
Exchanges
On October 7, traders on the Bitget exchange witnessed a shocking upheaval in the value of the native token, BGB. The token’s price plummeted from $1.15 to a staggering low of $0.5344 in a mere span of ten minutes. Such volatility raised significant concern among traders, marking one of the most sudden drops seen in
The world of cryptocurrency has always been shaped by dynamics of innovation and regulation, but 2023 marked a particularly tumultuous chapter for privacy tokens. A recent report by Kaiko highlighted that centralized exchanges delisted nearly six dozen privacy-focused cryptocurrencies, a significant increase compared to previous years. This delisting wave primarily affected well-known tokens such as
On September 24, Bybit, a leading cryptocurrency exchange, announced the launch of its Islamic crypto account, designed specifically for Muslim traders. This innovative move underscores Bybit’s commitment to inclusivity and regulatory adherence, ensuring that its services align with Islamic principles. According to Ben Zhou, the CEO of Bybit, this initiative is a significant milestone in
Binance, the cryptocurrency exchange that has taken the digital finance world by storm, recently celebrated a remarkable milestone: over $100 trillion in processed trades since its inception in 2017. This astonishing figure, announced by CEO Richard Teng on the X platform, not only highlights the exchange’s growth but also underscores its pivotal role in the
In the rapidly evolving landscape of decentralized finance (DeFi), Ethena Labs has made headlines for its synthetic dollar, USDe. As competition in the stablecoin sector intensifies, Ethena is pursuing innovative strategies to enhance USDe’s appeal and usability. Recently, community-driven proposals have surfaced, including the potential establishment of a decentralized exchange (DEX) known as Ethereal, which
In a significant move indicative of the evolving landscape of cryptocurrency exchanges, Bithumb—the second largest crypto trading platform in South Korea—has announced its plans to pursue a potential public listing in the United States. This revelation, shared during a shareholders’ meeting on September 30, signals Bithumb’s aspirations not only to enhance its operational footprint but
In a significant move reflecting the evolving landscape of cryptocurrency regulation, Kraken has announced the cessation of support for Monero (XMR) within the European Economic Area (EEA) by the end of October 2024. This decision, revealed in an official statement on October 1, exposes the tension between regulatory compliance and the inherent privacy features that
On September 30, 2023, Gemini, a prominent cryptocurrency exchange, informed its Canadian customers of its impending exit from the market by December 31, 2024. This withdrawal marks a significant decision, given that Gemini had previously regarded Canada as a promising territory for international growth. The communication explicitly stated that the exchange would close all accounts
The collapse of FTX sent shockwaves through the cryptocurrency industry, and Caroline Ellison’s recent sentencing is a stark reminder of the legal repercussions faced by those involved. As the former CEO of Alameda Research and once intertwined with disgraced crypto mogul Sam Bankman-Fried (SBF), Ellison received a two-year prison term and was ordered to forfeit
