Category: Exchanges

Binance Recovers $73 Million in Stolen Cryptocurrency, Up 33%

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As of July 31 this year, Binance had recovered $73 million in stolen cryptocurrencies. This represents a notable 33% increase from the approximately $55 million secured in 2023. Recovering and Freezing Illegal Crypto Assets According to the crypto exchange giant, the platform’s security team has been at the forefront of recovering misplaced and lost funds and freezing ill-gotten gains that find their way onto the exchange. Binance has also reportedly collaborated with both industry peers and the public sector to ensure that affected users receive the necessary support. Approximately 80%…

Nairobi Securities Exchange, Valour Sign MOU to Enable Trade of Digital Asset ETPs in Africa

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Valour Inc. has signed a memorandum of understanding with the Nairobi Securities Exchange (NSE) and Sovfi Inc. to facilitate the issuance and trading of digital asset exchange-traded products in Africa. The NSE is hopeful the collaboration will result in better product offerings and a broader investor base. Passporting of Valour’s ETPs to the Nairobi Stock […] Source

Cryptocurrency Market Volatility Rises as U.S. Stocks Turn Lower

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The cryptocurrency market experienced a sharp downturn Wednesday afternoon as U.S. stocks reversed early gains, leading to heightened cryptocurrency market volatility. Bitcoin (BTC), which had shown promise earlier in the day, saw its price tumble as broader economic concerns weighed on both digital and traditional financial markets. This article examines the factors driving this latest bout of volatility and its implications for the cryptocurrency landscape. Bitcoin and Ethereum Lead the Decline Bitcoin, the flagship cryptocurrency, initially rallied on Wednesday, reaching as high as $57,600. However, by mid-afternoon, Bitcoin had dropped…

FBI Issues Alert, Warns of Scammers Posing As Crypto Exchange Employees To Steal User Funds

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The U.S. Federal Bureau of Investigation (FBI) issued a warning to crypto traders last week about scammers who steal funds by posing as exchange employees. The FBI notes that these fraudsters will contact victims and pretend there are problems with their exchange accounts. The scammers, acting like exchange employees, will stress urgency, often claiming a hacker is trying to compromise the victim’s account, in a bid to convince the victim to provide personal information to “protect” their funds. The FBI encourages traders to never provide their account log-in information to…

U.S. Cryptocurrency Regulation Shifts with Political Sentiment

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The landscape of cryptocurrency regulation in the U.S. has undergone a significant transformation in recent years. What was once met with skepticism and stringent oversight is now evolving into a more nuanced and balanced approach, driven by shifting political sentiment and a deeper understanding of the technology’s potential. This article explores the changing dynamics of cryptocurrency regulation in the U.S., focusing on the roles played by the political landscape and the Securities and Exchange Commission. Early Skepticism and Regulatory Challenges In the early days of cryptocurrency, the industry faced considerable…

Demand for XRP on Crypto Exchanges Rebounds to Pre-Lawsuit Levels: Kaiko Analytics

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Demand for XRP is bouncing back on digital asset exchanges, according to crypto analytics firm Kaiko. After a long, drawn-out lawsuit with the U.S. Securities and Exchange Commission (SEC) that ultimately ended in the ruling that XRP sold on exchanges does not constitute a security, Kaiko says demand for XRP is back. “Since last year’s landmark court ruling, which granted Ripple Labs a partial victory against the SEC, demand for XRP in US markets has grown steadily. The share of US platforms in global XRP volume has increased from less…

Top US Crypto Exchange Coinbase Adds Newly Rebranded Layer-1 Token to Listing Roadmap

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Top US-based crypto exchange platform Coinbase is adding support for the native asset of a layer-1 blockchain that recently rebranded itself. In a new announcement, Coinbase says it’s adding layer-1 protocol Gravity (G), formerly known as Galxe (GAL), to its listing roadmap, which was created in 2022 as a means of increasing transparency and stifling front-running. Gravity is an interoperable smart contract platform that aims to securely and efficiently perform cross-chain transactions, according to its official website. “To meet the demands of high-throughput applications, Gravity features a cross-chain settlement protocol…

Crypto Exchange Giant Bybit Pulls Services From France Amid Regulatory Issues

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The crypto exchange giant Bybit pulled trading services from France this week due to regulatory issues. Bybit announced on Thursday that all accounts associated with French nationals and residents would shift to “close-only mode” the following day, blocking users from adding to or opening new positions. The exchange encouraged users to move their assets and funds to different accounts and noted that all remaining open positions would be liquidated on August 13th. From that point onward, French users will only be able to make withdrawals. The Autorité des Marchés Financiers,…