Binance moved over $1 billion of customer funds meant as reserves for B-tokens last year The funds were sent to firms like Alameda Research, Cumberland, and Tron Binance CSO stated that there was “no commingling of funds” Binance – the world’s largest crypto exchange – continues to be embroiled in controversies. The latest report byContinue reading “Binance reportedly moved $1.8 billion of collateral backing customers stablecoin”

Coinbase will suspend trading services to Binance starting mid-March The exchange stated that the decision comes after evaluating whether the stablecoin meets their listing standards Coinbase, a leading U.S. crypto exchange, announced that it would suspend the trading of Binance USD (BUSD). The decision comes right when the U.S. Securities and Exchanges Commission (SEC) labeledContinue reading “Coinbase to suspend trading of Binance USD (BUSD)”

Three United States federal regulators have issued a warning to banks about crypto-related liquidity risks The warning relates to volatility in deposit inflows and outflows related to crypto-entities The United States federal regulators have released a statement warning banks about crypto-related liquidity risks. The regulators involved are the Board of Governors of the Federal ReserveContinue reading “US federal regulators warn banks of crypto-related liquidity risks”

Coinbase has launched the testnet version of a new Ethereum L2 network – Base The L2 network has been deployed on the OP Stack codebase, giving a push to OP’s price on the market Coinbase, a leading US-based crypto exchange, announced the testnet launch of a new Ethereum layer-2 network – Base. The L2 networkContinue reading “Coinbase unveils new Ethereum L2 network powered by Optimism”

Crypto exchange Binance has closed accounts of some users based in Australia over compliance reasons The exchange stated that these users were mistakenly classified as wholesale clients Binance – the largest crypto exchange in the world by trading volume – announced that it closed derivate positions of some users, earlier today. The users affected byContinue reading “Binance closes derivative positions of some Australian traders”

Polygon Labs has cut its headcount by 20 percent The platform has over $250 million in its balance sheet and nearly 2 billion MATIC Polygon Labs has joined a slew of crypto firms that have laid off their employees. The move comes even though Bitcoin (BTC) and other cryptocurrencies have been making an upward moveContinue reading “Polygon Labs lays off employees from multiple teams”

The SEC has charged Paul Pierce for promoting EMAX tokens The former NBA player has agreed to pay a penalty and is prohibited from promoting crypto asset securities for three years The United States Securities and Exchanges Commission continues to take action against celebrities promoting crypto-projects. In its latest move, the SEC has laid chargesContinue reading “US SEC charges former NBA player for promoting crypto asset”

The US SEC has charged Do Kwon and Terraform Labs for committing securities fraud The SEC has also pressed fraud charges in relation to Chai payments The United States Securities and Exchanges Commission (SEC) has made yet another move in the stablecoin market. This time around, the regulator is going after the firm behind theContinue reading “US SEC files fraud lawsuit against Terraform Labs and Do Kwon”

Bitcoin breached the $25,000 mark for the first time since June 2022 The coin has maintained the upward momentum, which it gained yesterday after breaking past the $24,000 level Bitcoin (BTC), the king coin, has broken another level within a span of 24 hours. The largest cryptocurrency by market cap breached the $25,000 mark, aContinue reading “Bitcoin (BTC) breaks $25k mark, a day after breaching $24k”

Binance will suspend USD bank transfers as soon as this week The platform made the statement days after its banking partner put a limit on the USD transfer amount Binance, the world’s largest crypto exchange by market cap, is reportedly halting USD bank transfers. The halt will last for a few weeks till the cryptoContinue reading “Binance will temporarily halt USD bank transfers”

Silvergate’s share price in after-hours trading plummets as DoJ investigation report surfaces The enforcement agency is probing the bank’s ties with the bankrupt crypto exchange Silvergate Capital, a bank providing services to crypto firms, has drawn the attention of the Department of Justice for its association with bankrupt crypto-exchange – FTX. According to a reportContinue reading “Silvergate’s ties with FTX draws the attention of DoJ”

Investigation into Celsius operation found that customer and investor funds were used to prop up CEL price The report also found that the crypto lending platform was insolvent since its inception A new report published by a court-appointed examiner has shed light on the operations of crypto lender – Celsius – before it declared bankruptcy.Continue reading “Celsius inflated CEL price while former CEO dumped tokens”