Cryptocurrency exchange Coinbase recently released its Q2 earnings report, shedding light on its financial performance during this period. While the report indicates significant revenue, it also reveals some concerning numbers and areas of decline. Coinbase reported a total revenue of $708 million in Q2, indicating a decline of 8% quarter-over-quarter (Q/Q). The net revenue of
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The Australian Securities and Investments Commission (ASIC) has recently taken legal action against eToro, a popular online trading platform, claiming that it violated financial regulations related to cryptocurrency derivative products. According to ASIC, eToro allegedly contravened the design and distribution obligations under the Corporations Act 2001 between October 2021 and July 2023. This lawsuit comes
China’s involvement in Binance’s trading volume has been a topic of discussion lately, with conflicting reports surfacing. Despite claims that China contributes around 20% of Binance’s trading volume, the exchange has stated that its website is blocked in the country and inaccessible to China-based users. Let’s delve into the details and unravel the truth behind
In a recent press statement, Binance, the well-known cryptocurrency exchange, announced the launch of its dedicated platform in Japan. The move is seen as a crucial step towards rebuilding trust and expanding its reach in the Asian country. Binance Japan aims to provide a sustainable Web3 ecosystem, backed by the regulatory framework set by the
The Nigerian Securities and Exchange Commission (SEC) recently reiterated its warning that Binance’s operation within the country is illegal. In a statement released on July 28, the regulator specifically pointed out Binance’s official website and stated that the activities of Binance and any other platform through which the company solicits investors are neither registered nor
Binance, the leading cryptocurrency exchange, has recently made a bold move in its legal battle against the U.S. Commodity Futures Trading Commission (CFTC). In a court filing on July 27, Binance sought to dismiss the charges filed by the CFTC and its CEO, Changpeng Zhao, arguing that the financial regulator acted outside its powers. According
In response to recent reports suggesting layoff plans at KuCoin, the cryptocurrency exchange has vehemently denied any such intentions. The speculation emerged after Wu Blockchain claimed that three internal employees had disclosed the exchange’s plan to lay off 30% of its workforce due to declining profits. However, KuCoin’s CEO, Johnny Lyu, maintains that any personnel
Binance France recently released its audited financial records covering a period of 14 months, from November 2021 to December 2022. The records revealed that the exchange incurred a loss of €4 million during this period. This loss can be attributed to the fact that Binance France generated revenue for only six out of the 14
National Australia Bank (NAB) has recently taken steps to address the growing issue of cryptocurrency scams in the country. Over the last four months, NAB blocked over A$270 million in customer payments that raised scam concerns, highlighting the severity of the problem. These scams predominantly involved transactions to crypto platforms, but the bank did not
Cryptocurrency exchange Binance, one of the largest in the industry, has announced a reduction in employee benefits, citing a decline in profit margins. This decision comes as a result of the challenging market environment and regulatory climate that has negatively impacted the company’s bottom line. Effective June 19, Binance employees will no longer receive mobile-phone