Tag Archives: Exchange News

ARK Invest sold 69,069 Coinbase (COIN) shares last Thursday, worth $14.8 million, before the exchange released its second-quarter earnings report. ARK’s selling activity on August 1 exceeded the amount of COIN ARK it has divested in the past two months. The firm sold $2.88 million of the shares in June and $7.93 million in July. What it sold last Thursday is part of two ETFs it offers—the Next Generation Internet ETF (ARKW) and Fintech Innovation ETF (ARKF). The investment company has strict...

Crypto.com’s trading volume surpassed that boasted by Coinbase on August 1, rising to $3.6 billion compared to the latter’s $2.12 billion. Data on crypto market intelligence firm Messari reflected the same. The 23% increase boasted by Crypto.com comes from the robust institutional adoption crypto has been witnessing, with the exchange becoming a go-to for numerous institutional players. The launch of spot ETH ETFs in the US is also a massive factor in dominance displayed by Crypto.com...

Mt. Gox has refunded about 41.5% of the bitcoin it owed to creditors who lost their funds. However, selling activity in the market remains minimal. That has taken the entire community by surprise. With the repayments occurring over a year after the defunct exchange shut its doors for good, creditors were expected to sell their assets once they received them. BTC has since seen an 8,500% increase in its price. A Glassnode report showed how creditors are holding the funds reimbursed by Mt....

Coinbase’s entity in the UK was fined $4.5 million for breaking an agreement with the Financial Services Authority (FSA). CB Payments Limited (CBPL), the entity, onboarded high-risk customers, possibly allowing crime-related funds to follow into the country’s financial system. “CB Payments Limited (CBPL) has been fined £3,503,546 by the Financial Conduct Authority (FCA) for repeatedly breaching a requirement that prevented the firm from offering services to high-risk customers,” the FSA said...

Wazir X issued a report on Thursday, with new revelations of the $235 million hack, stating all indicators point to the custody service provider it relies on, Liminal Custody. According to the report, the custodian may have suffered a security breach, causing it to approve a transaction to a fraudulent wallet address. Nothing seemed suspicious at the surface level. “In this cyber attack, the malicious transactions involved signatures from three WazirX signers and one from Liminal, confirming...

BTC saw a 4% decline to $65,500 in value on Tuesday as Kraken sent funds, which constitute repayments, to Mt. Gox creditors. The defunct Mt. Gox, overseen by its bankruptcy estate, has chosen multiple exchanges to ensure prompt reimbursements to those who lost their funds in 2014 when it went bankrupt due to hacks that persisted for two years. Chosen exchanges, besides the obvious Kraken, include Bitstamp, Bitbank, BitGo, and SBI VC Trade. While Mt. Gox is working on moving funds to all of...

Defunct lending platform BlockFi has secured claims from FTX, allowing it to repay customers and creditors whose funds were tied because it failed in 2022. Its plan administrator, Mohsin Y. Meghji, submitted a report to the U.S. Bankruptcy Court for the District of New Jersey, stating BlockFi closed a transaction, letting it monetize about $874.5 million. According to a press release issued by the firm, “Following the settlement with FTX in March 2024 that allowed BlockFi to receive $874.5...

As hackers tied to the North Korean Lazarus Group made away with $230 million from WazirX’s multisig cold wallet on July 18, the Indian centralized exchange (CEX) has announced a bug bounty program. It will hopefully allow the attacked platform to track the flow of assets as the hackers try to liquidate them and let WazirX seize them on other CEXs during liquidation efforts. The exchange wrote on X, “We’re reaching out to 500+ exchanges to block the identified addresses. Many exchanges are...

The defunct exchange FTX, once operated by the disgraced convict Sam Bankman-Fried, has settled with the Commodity Futures Trading Commission (CFTC) for a whopping $12.7 billion. This development comes after the lawsuit, filed by the CFTC, played out for 19 months. While both parties have agreed to the number, the court’s approval remains. “The Proposed Settlement is an integral and valuable component of the Debtors’ proposed chapter 11 reorganization plan,” Carl R Metzger, senior trial...

Binance faces four tax evasion charges from Nigeria’s Federal Inland Revenue Service (FIRS). A court in Abuja has scheduled its verdict for October 11. Binance’s lawyer in Nigeria, Ayodele Omotilewa, argued on July 12 to have all charges dropped against Binance due to lack of sufficient grounds. They maintained the crypto exchange was not guilty in front of Judge Emeka Nwite. The same judge dropped tax evasion charges against Tigran Gambaryan and Nadeem Anjarwalla, Binance executives...