The U.S. Department of Justice (DOJ) has reportedly appointed a London-based consulting firm to serve as an outside monitor for Binance after the world’s largest crypto exchange pleaded guilty to violating US anti-money laundering (AML) regulations and sanctions laws. People familiar with the matter but wanted to remain anonymous say the DOJ has selected Forensic Risk Alliance (FRA) for the three-year monitorship of Binance over the previous frontrunner, New York-based law firm Sullivan & Cromwell, reports Bloomberg. One of the conditions of Binance’s plea deal in November is the appointment…
Tag: Exchange
Kraken Asks Court To Dismiss SEC Claims Alleging the Crypto Exchange Operated As Unregistered Securities Broker
The crypto exchange Kraken is pushing back against claims made by the U.S. Securities and Exchange Commission (SEC). In November, the SEC charged Kraken with operating its crypto trading platform as an unregistered securities exchange, broker, dealer and clearing agency. Earlier this year, Kraken filed in US District Court to dismiss those charges, and the company provided additional arguments in support of that motion on Thursday. The exchange’s lawyers argue that the SEC’s argument would widen the definition of investment contracts and expand the regulator’s jurisdiction outside of its delegated responsibility.…
Centralized Crypto Exchange Trading Volume Plummets in April After Six Months of Consecutive Gains: CCData
New data reveals that the overall trading volume of centralized crypto exchanges (CEXs) plummeted in April after six consecutive months of gains. According to blockchain tracker CCData, the combined volume of spot market and derivatives trading on centralized exchange platforms fell by a staggering 43.8% to $6.58 trillion. The firm’s charts indicate that in March, the combined volume was about $11 trillion and in February, it was approximately $8 trillion. However, the chart also reveals that the overall volume in April 2024 is still higher than it was during any…
Top Crypto Exchange Binance To Roll Out Support for New Altcoin Connected to Telegram Game
Top global crypto exchange Binance plans to launch trading support for a new altcoin connected to a viral game on the encrypted messaging platform Telegram. Binance plans to roll out support for NOT, a community token for the popular Telegram-based tap-to-earn mining game Notcoin, via its Launchpool platform, which lets users stake coins to farm new assets. Between May 13th and 16th, Binance users can stake BNB, the crypto exchange platform’s native asset, as well as the stablecoin First Digital USD (FDUSD) into separate pools to farm NOT tokens. The…
Bitcoin Meal Box: South Korean Convenience Store Chain Partners With Crypto Exchange to Promote BTC
Emart24, South Korea’s fastest-growing convenience store chain, has partnered with cryptocurrency exchange Bithumb to introduce a “bitcoin meal box” in a promotional campaign. Priced at 5,900 Korean won ($4.30) each, the company aims to sell 30,000 bitcoin meal boxes by May 31. Customers purchasing these boxes can receive 10,000 won worth of bitcoin by using […] Original
Revolut X, New Cryptocurrency Exchange Platform, to List Dash
The Dash community has revealed on social media that the coin will be included in the trading options on Revolut X, the new cryptocurrency exchange platform by Revolut. This development expands Dash’s reach to Revolut’s rapidly growing user base. Revolut X, a standalone web app separate from Revolut’s main banking app, is designed to provide […] Source
FTX Bankruptcy: Fallen Exchange To Amass up to $5,100,000,000 More Than What Users Lost at Time of Collapse
The bankrupt crypto exchange FTX now has holdings worth billions of dollars more than the legally approved claims made by its creditors. A recently filed disclosure statement indicates that FTX’s bankruptcy estate estimates it will hold net distributable proceeds between $14.5 billion and $16.3 billion on September 30th, the projected start date for the exchange’s reorganization plan. FTX only owes creditors approximately $11.2 billion, putting the bankrupt exchange’s creditors in a position to recover between 118% and 142% of their claim values, according to the disclosure statement. However, FTX’s creditors’…
Crypto Exchange Binance Fined C$6M ($4.3M) by Canadian Financial Regulator FINTRAC for ‘Administrative Violations’
FINTRAC also said that, between June 1, 2021 and July 19, 2023 Binance failed to report 5,902 crypto transactions bigger than $10,000 and their attached know-your-customer (KYC) information to the regulator. The agency discovered the violations using blockchain explorer tools. Source BitcoincryptoexchangeExchanges CryptoX Portal
Crypto Exchange Binance Fired Investigator Who Uncovered Market Manipulation at Client DWF Labs: WSJ
The Binance investigators submitted a report alleging DWF had manipulated the price of several tokens on the back of $300 million of wash trades in 2023, but Binance deemed there was insufficient evidence of market abuse, the WSJ said. A week after the report’s submission, the head of the team was fired, according to the newspaper. Source
Tokyo-Based Crypto Exchange Coincheck to List on Nasdaq Through Merger
Coincheck, a Japanese cryptocurrency exchange, has made a public filing to list Coincheck Group B.V. on Nasdaq through a De-SPAC transaction with Thunder Bridge Capital Partners IV Inc. This follows an earlier announcement from March 22, 2022, detailing plans by Monex Group Inc., Coincheck’s parent company, for the listing. After the listing, Coincheck will become […] Source