Nearly $35 million worth of various tokens were stolen from Atomic Wallet, a centralized storage and wallet service, on June 3. These tokens include bitcoin (BTC), ether (ETH), tether (USDT), dogecoin (DOGE), litecoin (LTC), BNB coin (BNB) and Polygon’s MATIC. Source
New data from on-chain intelligence firm IntoTheBlock finds that decentralized exchanges (DEXs) are seeing a rise in market share while a regulatory offensive develops in the US. According to a new report from the firm, the U.S. Securities and Exchange Commission’s (SEC) charges against Binance and Coinbase for alleged securities violations last week are likely to have long-term effects on shaping the future of the industry. The regulatory agency’s lawsuit against the two biggest centralized crypto exchanges in the world also deemed three large-cap crypto assets – Cardano (ADA), Polygon…
TaxBit, a cryptocurrency tax software company, has made significant staff reduction, marking the second round of layoffs within a few months. According to The Information, employees were notified about the layoffs on Thursday. Coinciding with the staff reduction, TaxBit’s CEO and co-founder, Austin Woodward, stepped down from his position. Taking his place is Lindsey Argalas, a former Intuit executive and the current Chief Operating Officer of TaxBit, , media reports said. With these job cuts, TaxBit joins a long list of crypto firms that have resorted to reduction in headcount since…
While data suggests that crypto assets have been flowing out of centralized exchanges at an accelerated pace over the last week, Binance CEO Changpeng Zhao argues it may not be as bad as it appears. Leading analytics platforms such as Nansen and DeFiLlama have all measured increased exchange outflows from Binance over the past seven days after news of the SEC lawsuit against the firm hit the airwaves. According to Nansen, there has been a net outflow of $2.36 billion from Binance over the past seven days along with $123.7 million…
Hong Kong Legislative Council member Johnny Ng has extended an invitation to Coinbase and other global virtual asset trading operators to establish operations in the region, showcasing the city’s progressive approach towards cryptocurrencies. In a tweet, Ng expressed his support and offered assistance to these industry players, while also hinting at potential stock listing opportunities. This move comes at a time when several major cryptocurrency exchanges, including Binance and Coinbase, have faced lawsuits from the United States Securities and Exchange Commission. While Western countries remain cautious about cryptocurrencies, Hong Kong…
The U.S. Department of Justice (DOJ) is charging two Russian nationals for their alleged involvement in the infamous hack of defunct crypto exchange Mt. Gox. In a new press release, the DOJ says that it is charging two Russian citizens – 43-year-old Alexey Bilyuchenko and 29-year-old Aleksandr Verner – for allegedly conspiring to launder hundreds of thousands of Bitcoin (BTC) hacked from Mt. Gox. Furthermore, Bilyuchenko is also charged with conspiring to operate BTC-e, a crypto exchange allegedly linked to money laundering and the Mt. Gox hack, from 2011 to…
Binance.US says that it will be halting US dollar deposits and withdrawals in response to being sued by the U.S. Securities and Exchange Commission (SEC). In a new announcement, Binance.US says it will temporarily become a crypto-only exchange platform due to the SEC’s “ideological campaign” against the US digital asset industry. “The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry. Binance.US and our business partners have not been spared in the use of these tactics,…
Crypto exchange Kraken is announcing that its new non-fungible token (NFT) marketplace is now available for the general public following months of testing the platform with a select group of users. The San Francisco-based firm rolled out the beta version of Kraken NFT in November, saying it would use user feedback during this phase to develop the platform. In a blog post published on Thursday, the exchange says the marketplace is officially ready to launch. “Since first opening Kraken NFT to beta testers, we’ve been building new features, adding more…
South Korean crypto entrepreneur Do Kwon, the founder of Terraform Labs, is facing allegations that he moved crypto assets worth millions following his arrest in March this year. According to a South Korean prosecutor, Kwon allegedly transferred approximately $29 million in digital coins from an entity linked to his blockchain project before its collapse last year. The funds were believed to have been moved personally by Kwon or at his request. Kwon, who had disappeared after the Terra/Luna ecosystem failed in May 2022, was apprehended while attempting to leave Montenegro…
SAN ANSELMO, CALIFORNIA – JUNE 06: In this photo illustration, the Binance logo is displayed on a screen on June 06, 2023 in San Anselmo, California. The Securities And Exchange Commission has filed lawsuits against cryptocurrency exchanges Coinbase and Binance for allegedly violating multiple securities laws. (Photo Illustration by Justin Sullivan/Getty Images) Justin Sullivan | Getty Images Binance.US customers will no longer be able to use U.S. dollars to buy crypto on the platform as early as June 13, hobbling the exchange’s ability to do business in the United States, after…