In a surprising move, Binance, one of the world’s largest cryptocurrency exchanges, has sold its entire Russia business to CommEX, a newly launched crypto platform. The financial details of the deal remain undisclosed, raising questions about the reasoning behind this decision. Binance announced that it will gradually redirect new user registrations from Russia to CommEX
Exchanges
HTX global adviser Justin Sun has announced the establishment of a secure asset fund for users (SAFU) following a recent exploit that resulted in a loss of $7.9 million from its hot wallet. This fund aims to provide a financial safety net for investors in the event of asset losses due to hacks or other
Financial authorities in South Korea are set to implement stringent eligibility reviews for major shareholders of cryptocurrency exchanges, as per local media reports on September 22. This move comes as a response to the increasing legal issues involving shareholders of prominent domestic exchanges like Bithumb and Upbit. The Financial Intelligence Unit (FIU) under the Financial
The recent events surrounding South Korea’s leading cryptocurrency exchange, Upbit, have shed light on the vulnerabilities within the digital asset industry. On September 24, Upbit temporarily suspended all withdrawals and deposits of the Aptos native token, APT, after discovering fraudulent activities involving counterfeit APT tokens. This incident has raised concerns about the security and trustworthiness
A recent class action suit brought against the law firm Fenwick & West has prompted a response defending its actions. The lawsuit, initiated in August, alleges that Fenwick & West holds partial liability for fraudulent activities conducted by FTX. In its filing, Fenwick & West has presented various arguments to dismiss the case, highlighting the
As the U.K. Financial Conduct Authority (FCA) prepares to implement new crypto marketing rules in October, Bybit, a leading crypto exchange, has made the decision to leave the U.K. market altogether. The move comes as a proactive response to the forthcoming regulations, which require crypto companies to comply with enhanced transparency and consumer protection measures.
In recent news, there have been speculations regarding Binance’s potential delisting of stablecoins for its European users due to the upcoming Markets in Crypto Assets (MiCA) regulations. However, Binance CEO Changpeng Zhao, commonly known as CZ, has refuted these reports, emphasizing the importance of context in understanding the situation. Contrary to the reports, CZ stated
CoinEx, a prominent cryptocurrency exchange, has announced that it will be resuming its deposit and withdrawal services for popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), and USD Coin (USDC), starting from September 21 at 08:00 UTC. This decision marks a turning point for CoinEx, as it gradually emerges from a substantial security
The weekly trade volume of Binance.US has experienced a drastic decline, plunging from an annual high of nearly $5 billion to a mere $40 million, according to crypto data firm Kaiko. This significant drop can be attributed to a combination of factors, including the charges filed by the U.S. Securities and Exchange Commission (SEC) against
The recent donation of $3 million in Binance Coin (BNB) by Binance Charity to the victims of the earthquake in Morocco has sparked a debate about the role of cryptocurrencies in humanitarian aid. Critics argue that victims of disasters require immediate essentials like food and water, not crypto. In this article, we will critically analyze