Tag Archives: Exchange News

A new report from digital currency data site Crypto Head suggests that crypto fraud and theft is at an all-time high in the year 2021. There are more data breaches and infiltrations of exchanges and trading platforms occurring this year than at any other point in the history of cryptocurrency. Crypto Head: Digital Currency Theft Has Reached a New Peak This is to be expected in many ways given that the crypto space has risen to boast a valuation of more than $2 trillion....

The founder and top executive of Bit Connect – a now extinct cryptocurrency exchange – is being sued by the Securities and Exchange Commission (SEC) over his potential role in fraudulently collecting approximately $2 billion from investors several years ago. Bit Connect Is at the Center of a Legal Battle A civil case against the founder of the company was filed four months ago in May of this year. Satish Kumbhani – an Indian citizen – was formally charged by the SEC for...

It’s happened again, folks. Another crypto hack is in the books. This time, the victim is a platform known as Cream Finance, which at the time of writing, is reporting losses of approximately $34 million. Cream Finance Loses a Lot of Dough The money was taken after a hacker exploited an opening in the firm’s system. Cream Finance is a decentralized organization that offers lending programs to crypto traders. Individuals can earn interest yields on many different...

In a recent discussion, Gary Gensler – the present head of the Securities and Exchange Commission (SEC) – stated that major cryptocurrency platforms and exchanges need to embrace and cooperate with regulators if they wish to maintain their present levels of trust amongst customers. It’s a statement that arguably suggests Gensler knows absolutely nothing about cryptocurrency. Gary Gensler Is All About Regulation During the discussion, Gensler comments: At about $2...

It appears Coinbase – one of the most popular crypto exchanges in the western hemisphere – has had a little security hiccup it needs to make up for. The trading platform accidentally sent out emails or text messages to a multitude of customers claiming that their two-factor authentications were compromised or changed in some way. This was not true, and now the company is looking to reward these customers with approximately $100 in bitcoin as a way of saying, “Our bad!”...

Binance is improving Singapore’s status as a cryptocurrency and bitcoin hub through its latest hiring maneuvers. The world’s number one digital currency exchange by daily trading volume has announced that it is bringing Richard Teng onboard as the new CEO for its Singapore office. Binance Is Expanding in Singapore Teng is a previous Singapore Exchange executive who’s got the skills the company needs to ensure digital currency protocols move forward appropriately. In a...

Florida has gained access to another cryptocurrency exchange today through Blockchain.com, making this the third official exchange Floridians can utilize for trading, buying, and selling digital assets. Florida Citizens Are Now Permitted to Trade Through Blockchain.com Valued at approximately $5 billion at the time of writing, Blockchain.com is based in London but is looking to hire dozens of people in Miami, a city known as a growing tech hub and crypto base. Thus far,...

A crypto trader named Fawaz Ahmed is pursuing legal action against cryptocurrency exchange Binance, claiming that it cost him millions of dollars in lost Ethereum. Binance Could Find Itself in Court When Ahmed saw the price of Ethereum slipping, he felt it was time to sell his coins and exit the trading space for a while. Unfortunately, this was not something he was able to do given that the exchange was experiencing a major outage on the day he sought to trade. This was...

A crypto exchange known as Liquid – which is based in Japan – has been hacked, leaving it short of nearly $100 million in digital funds. Liquid Has Lost a Lot of Money The hackers involved in the incident have allegedly taken as much as $97 million in digital currency at the time of writing. Several assets – including bitcoin, Ethereum and Litecoin – have been stolen. Liquid has reported that the hacker is allegedly transferring this money to as many as four separate...

Brett Harrison – the president of FTX.US, an affiliate of FTX – says that his exchange is looking to offer crypto derivative trading within 12 months. FTX.US Sees Spot Trading in Its Future FTX has become the world’s second largest cryptocurrency exchange after Binance. FTX.US, which is based in California, presently has limited options available to crypto traders when compared with its parent, as at the time of writing, the firm can only provide spot in compliance with...