The Gemini exchange has reassured its consumers that all GUSD reserves are held with respectable banks, including Fidelity. The weekend’s failure of Signature Bank & Silicon Valley Bank to remain open was detrimental to the overall state of the banking industry in the United States. On the other hand, Gemini Trust Company LLC, an experienced … Read more
According to published reports, BlockFi also owns $227 million in the bankrupt Silicon Valley Bank, which was not covered by insurance. As the drama surrounding the closing of Silicon Valley Bank unfolds (1) more, other victims are coming to light. Circle, the company responsible for the widely used USDC stablecoin, was the first to suffer … Read more
With the conclusion of the insolvency proceedings, the story of the FTX exchange, and its sister business Alameda Research is continuing. The most recent turn of events involves the sale of Alameda Research’s stake in Sequoia Capital to the sovereign wealth fund of N Abu Dhabi. A recent document filed in court by the US … Read more
In a recent lawsuit, the New York Attorney General’s office accused KuCoin of “ignoring our laws and placing investors in danger.” New York Attorney General Letitia James has filed suit against KuCoin (KCS) as part of a larger effort to crack down on virtual currencies. On Wednesday, the New York Attorney General’s office sued (1) … Read more
Coinbase, the major crypto exchange in the US, has introduced (1) an innovative feature that it believes will bring millions of users to web3. Businesses will be able to create cutting-edge web3 experiences with streamlined wallet onboarding made possible by releasing a new product called “Wallet as a Service” (WaaS). Because of the development of … Read more
Per the announcement made by Binance, the newly included tokens are as follows: MASK, ENJ, WRX, GRT, CHR, CRV, 1INCH, CVP, HFT, SSV, and DOGE. Binance is not only the platform that handles the most trading volume, but it also possesses a vibrant market comprising hundreds of tokens made available to consumers. Following the failure … Read more
Binance.US has been given permission to purchase the assets of defunct cryptocurrency lender Voyager Digital in a $ 1 Billion dollar deal. Binance.US will be able to broaden its range of services and boost its standing in the extremely competitive cryptocurrency sector due to the acquisition. The agreement was given the go-ahead (1) on March … Read more
Bybit deposits in U.S. dollars are “No Longer Available,” and withdrawals may only be made up to March 10. The cryptocurrency exchange headquartered in Dubai reported that it temporarily halted accepting U.S. dollar deposits made via bank transfer due to a partner-triggered service failure. Bybit has notified (1) on its website that all wire transfers … Read more
A story sharing exclusive info about Binance’s operations and its participation with authorities was published in the Wall Street Journal on Sunday, March 5, 2019. According to a report from WSJ, cryptocurrency exchange firm Binance expressed interest in employing Gary Gensler as a consultant several years before he was appointed chairman of the SEC in the … Read more
According to the trading company, the initiative, labeled as the next breakthrough in its effort to protect its consumers, will begin in Hong Kong, a well-known region for its openness to various crypto developments. In this release, Binance discusses how fraudulent cryptocurrency activities have progressed. The exchange claimed (1) that even though its systems are … Read more