Binance, one of the leading cryptocurrency exchanges in the world, recently faced criticism for its association with five Russian banks under sanctions. The Wall Street Journal (WSJ) raised concerns about potential sanctions violations, as Binance appeared to endorse these banks as transfer options for ruble fund transfers. With the US Justice Department investigating possible breaches,
Blockchain
The US Department of the Treasury and Internal Revenue Service (IRS) have recently unveiled new proposed regulations that aim to enforce stricter reporting requirements for brokers of digital assets. Designed to crack down on tax cheats and assist law-abiding taxpayers, these regulations have received mixed reactions from both industry insiders and lawmakers. While some argue
In a surprising turn of events, Magnate Finance on Base has recently taken its Telegram group offline and completely deleted its website. This sudden disappearance has caused alarm among investors and sparked fears of yet another exit scam in the cryptocurrency market. With $6.4 million in Total Locked Value, Magnate Finance’s decision to erase its
Cryptocurrency exchange Bitstamp has recently made the decision to terminate its Ethereum staking service for users in the United States. The move comes as regulatory uncertainty continues to loom over the cryptocurrency industry. Bitstamp has given its US users until September 25 to earn rewards on their staked assets, after which the tokens will be
In a surprising turn of events, Binance Connect, the regulated buy-and-sell crypto arm of the Binance exchange, announced its closure on August 16. This decision, as stated in a tweet by the decentralized BNB Chain exchange Biswap, was not made lightly. Binance had to make a difficult choice due to the closing of its supporting
The web3 metaverse and creator platform, ZTX, has recently concluded a highly successful $13 million seed round, led by renowned crypto investment firm, Jump Crypto. This significant milestone signifies a major leap forward for ZTX, as it attracts investments from prominent players in the web3 investment space such as Collab+Currency, Parataxis, MZ Web3 Fund, and
In a surprising move, bankrupt crypto lender Voyager Digital recently transferred 1,500 Ether (ETH) and 250 billion Shiba Inu (SHIB) tokens to Coinbase. The total value of these transfers amounted to approximately $2.77 million for Ether and $2.7 million for Shiba Inu. This event has triggered suspicion and speculation within the crypto community, as observers
South Korean prosecutors are seeking maximum prison sentences for executives allegedly involved in a $651 million crypto scam that left thousands of investors out of pocket. The scam involved the promise of payouts to individuals who paid their utilities bills using cryptoassets through the OnNetworks platform. However, the firm reneged on these promises, causing financial
Base, a recently launched Ethereum layer 2 blockchain developed by Coinbase, experienced an impressive influx of over $10 million on its first day. With 15,000 new users joining within the first 24 hours, the network has shown great potential. Although the daily transaction volume decreased by 40% the following day, the launch of Base has
In recent months, there has been a surge of excitement in the cryptocurrency market as a wave of Bitcoin spot ETF applications emerged. However, what many may not be aware of is the increasing number of Ether ETF applications closely following behind. As of August 10, there are an astounding 14 Ethereum futures ETF applications