Tag Archives: Exchange News

Bitvavo – a Dutch bitcoin exchange – has rejected a proposal from the Digital Currency Group (DGC) headed by Barry Silbert to repay approximately 70 percent of the debt owed to it by Genesis Trading. Bitvavo says the company has the money to pay back 100 percent of the debt and should do so without making executives wait any longer. Bitvavo Says “No Way” to the DCG Not long ago, Bitvavo announced it had just shy of $300 million locked up in Genesis. The proposal to pay...

Tom Brady and his now ex-wife Gisele Bundchen have lost close to two million shares that were at one point, worth as much as $150 million in the now dead FTX crypto exchange. The famous pair were among the many celebrities that either served to endorse the company or engaged in advertisements and media for the firm. Tom Brady Has Lost Tons of Cash Aside from losing a crapload of money, Brady has also been named in a recent lawsuit (along with other sportsmen and celebs)...

Huobi Global – one of the world’s biggest digital currency exchanges – has announced that it’s going to release approximately 20 percent of its staff due to the ongoing volatility and speculation of the digital currency industry. Huobi Global Is Parting with Several Staff Members A Huobi spokesperson said: With the current state of the bear market, a very lean team will be maintained going forward. Huobi employed about 1,600 people in October of last year. With the 20...

It looks like Coinbase – a popular digital currency exchange in North America – just can’t catch a break. After getting sued by customers and then having to engage in a settlement with the New York Attorney General’s office, the trading platform has announced it’s having to cut another 1,000 jobs to make ends meet. Coinbase Forced to Part Ways with More Staff The crypto space has been doing very poorly. Despite showing signs of early recovery (bitcoin is on the verge of...

Caroline Ellison – the 28-year-old girlfriend of Sam Bankman-Fried and the former CEO of Alameda Research, a company founded by SBF – has admitted in recent testimony that she knew what was happening with FTX was wrong. Caroline Ellison on FTX: It Was Wrong The big bang for FTX comes in the shape of Alameda, which borrowed money from the crypto exchange in the form of user funds to pay off separate debts. Both companies were required to remain individual entities. In...

Throughout 2022, there were many trends surrounding crypto crime. Many romance scams popped up, clearly proving it was a popular method amongst cyberthieves of getting money that wasn’t theirs. We also saw examples of exchange fraud like with FTX. Now, billionaire investor and crypto bull Mark Cuban says a new crime trend will occur in 2023, though he freely admits he’s suggesting this based purely on his own thoughts, and he has no evidence to suggest it will truly...

The state of New York and its attorney general Leticia James are suing former crypto lending network Celsius for allegedly engaging in fraud and misusing customer funds. New York Comes Down Hard on Celsius The sentiment is that FTX wasn’t the only company to use traders’ money for personal gains this year. Celsius really rang a lot of negative bells last summer when it first announced it was going to be halting all withdrawals given that speculation and the volatility of...

Coinbase – one of the largest and most popular digital currency exchanges in the world – has announced it will pay roughly $50 million in settlement fees to New York regulators for allegedly failing to comply with the Empire State’s anti-money laundering laws. Coinbase Allegedly Did Not Comply with Anti-Money Laundering Laws Regulators say that Coinbase has several older accounts that it hasn’t bothered to apply anti-money laundering laws to. There have been several...

Sam Bankman-Fried – the former head executive of the now fallen crypto exchange FTX – has pleaded not guilty to all counts of fraud. This means his case will potentially be heard by a jury. Sam Bankman-Fried Says He’s Not Guilty During a recent testimony, Bankman-Fried refused to speak for himself. Instead, it was his lawyer Mark Cohen who entered the not guilty plea on his behalf. Bankman-Fried’s mother was in attendance and sitting behind her son as the judge who will...

A group of investors that filed a class-action lawsuit against popular digital currency exchange Coinbase are now withholding their account information as a means of preventing their case from moving into arbitration territory. They want to see their situation escalate to the American court system and placed before a judge. Could Coinbase Find Itself in Court? The customers allege that the security measures initiated by Coinbase against hackers and cyberthieves were weak...