Tag Archives: Exchange News

Binance, the world’s largest cryptocurrency exchange, is set to hire 1,000 new employees this year, with a significant portion of these roles focused on compliance. This move comes at a time when Binance has been escalating efforts to address the increasing regulatory pressures, notably in the US where its compliance outlay is likely to exceed $200 million annually. The information was disclosed by Binance’s Chief Executive Richard Teng to the Bloomberg News in an interview during his trip to...

On Tuesday night, Mt. Gox transferred 12,000 Bitcoin, valued at $709.44 million, to an unknown wallet address, according to blockchain analytics firm Arkham. The transaction took place at approximately 11:39 p.m. UTC. In addition to this, 1,264.69 BTC, worth $74.77 million, was sent to another address identified by Arkham as a cold wallet belonging to Mt. Gox. These funds have not been transferred further since the initial move. Late last week, one of the wallets linked to the BitGo exchange...

Nearly a month after a massive hack led to the loss of $234 million from WazirX’s Safe Multisig wallet, the Indian crypto exchange has restored investor balances. However, the timeline for when users can withdraw their funds remains unclear, causing frustration and anxiety among investors. On August 16, WazirX provided an update stating that they are focusing on resolving two main issues: defining the proper approach when dealing with the balances in the Indian Rupee (INR) and the issues...

Turkey’s new crypto legislation has sparked an influx of 47 license applications. 76 crypto exchanges, including Coinbase and KuCoin, have applied for licenses in Turkey. Turkey has witnessed an enormous spike in interest from crypto companies seeking to enter the industry. The Turkish Capital Markets Board (CMB) has revealed that 76 cryptocurrency firms have sought licenses under the newly adopted legislation. Notable candidates include Bitfinex, Binance TR, and OKX TR.  Crypto Exchanges...

In a significant development, Binance has agreed to pay 9.6 million reais (about $1.76 million) to settle an investigation with Brazil’s Securities and Exchange Commission (CVM). This investigation focused on Binance’s unauthorized derivatives trading in Brazil, concluding a regulatory dispute that lasted over four years. The problem started in June 2020 when the CVM claimed that Binance was providing derivatives trading without the right authorization. The regulator first insisted on...

A wallet related to BitGo conducted a test transfer on Tuesday, following which it sent all its holdings to another wallet. A user on Reddit mentioned receiving the funds owed to them by Mt. Gox through BitGo. A wallet that received over $2 billion worth of bitcoin from Mt. Gox moved a minuscule amount on Tuesday before clearing the entirety of its holdings. While the value of its bitcoin holdings was over $2 billion two weeks ago when the funds flowed in, the price of the 33,105 bitcoins it...

WazirX, the Indian cryptocurrency exchange, had scheduled a maintenance period to restore account balances and reverse specific trades following a major security breach. WazirX made this announcement on its social media platform, X. The maintenance occured from 6 p.m. on August 15 to 2 a.m. IST on August 16, during which all services on the platform were temporarily unavailable. The attack happened on July 18 and led to the theft of $234.9m worth of cryptocurrency assets. This hack was...

An ETH whale moved 5,000 ETH worth about $13 million to OKX on August 12. They had acquired these assets in 2014 during ETH’s ICO for just $0.31 a pop. With that transfer, this whale has moved 48,500 ETH, or $154 million, in the past 35 days, according to data from Etherscan. A whale is a colloquial term used by those in crypto circles to refer to a user holding massive amounts of crypto in their wallets. This user’s wallet address, likely a GnosisSafe one, moved the funds to OKX’s deposit...

The Canadian regulator is going after Smillie as the only defendant in this case. He misappropriated about one-third of funds entrusted by users on his platform, which amounted to at least 935.46 BTC and 159 ETH. ezBtc, a crypto exchange operational between 2016 and 2019, was dissolved in 2022 due to customers being unable to withdraw their assets. The British Columbia Securities Commission (BCSC) revealed that the exchange’s founder, David Smillie, gambled away 13 million Canadian Dollars,...

Binance, one of the largest cryptocurrency exchanges globally, has announced a significant change that will impact holders of 15 specific tokens on its platform. By September 1, 2024, Binance will halt withdrawals for these tokens and automatically convert them to USDC, a widely used stablecoin. This move comes as part of Binance’s ongoing efforts to streamline its offerings and ensure greater stability for its users. Some of the tokens involved in this decision include Bitcoin Gold (BTG),...