The recent allegations against major crypto exchange KuCoin and its founders for failing to implement anti-money laundering (AML) and know-your-customer (KYC) procedures have sparked concerns in the cryptocurrency community. Prosecutors claim that the absence of AML and KYC on KuCoin allowed the platform to be used for laundering illicit funds from criminal activities. This lack
Crypto
Over the weekend, a mysterious event unfolded in the world of cryptocurrency as the fifth richest Bitcoin address transferred a staggering $6 billion worth of the asset to three new wallets. This massive transfer of wealth sparked curiosity and speculation within the crypto community, especially considering the timing amid increased institutional interest in BTC. In
Ark Invest has recently made headlines with the sale of 74,291 Coinbase shares, amounting to a total value of $20.8 million. This decision marks a significant shift in the firm’s investment strategy, following a previous sale of over $100 million worth of Coinbase shares just the week before. Rebalancing Across ETFs The sale of Coinbase
CommEX, the crypto exchange that had taken over Binance’s operations in Russia, has announced its decision to cease operations in the country. The transition process will begin on March 25, with the exchange gradually winding down its services. This decision comes after Binance’s initial announcement in September 2023 that it would be exiting Russia within
Bitcoin’s price has recently encountered support around the significant $60K price level, signaling the beginning of a period of sideways consolidation correction. Despite this correction, buyers are setting their sights on reclaiming the $73K threshold in the mid-term, with hopes of propelling the price towards a new all-time high. A closer examination of the daily
The legal battle between Ripple and the US Securities and Exchange Commission (SEC) has been a lengthy and tumultuous journey, spanning over three years. As the much-anticipated trial date of April 23 approaches, both parties have recently demonstrated a surprising collaborative effort. They filed a joint letter addressing sealing issues related to the upcoming remedies
In a recent legal battle between the U.S. Securities and Exchange Commission (SEC) and Utah-based cryptocurrency firm DEBT Box, U.S. District Judge Robert Shelby found the SEC guilty of serious misconduct. The case drew attention after accusations surfaced regarding the SEC misrepresenting key facts to obtain a temporary restraining order freezing assets on the crypto
Bitcoin’s price movements over the weekend have been somewhat underwhelming as the asset has calmed at just over $64,000 after the previous week’s volatility. The altcoins are, in general, also less volatile today, with a few exceptions like Dogecoin, which has surged by around 7%. The last business week started on a highly unfavorable note
Recently, a 46-year-old housewife in Hong Kong found herself in a nightmare scenario after losing a staggering 7.1 million Hong Kong dollars ($908,000) to a fraudulent crypto investment platform. This incident sheds light on the dangers of falling victim to scams in the digital asset space. The housewife was approached by fraudsters through Instagram, who
Coinbase, the derivatives arm of the largest American cryptocurrency exchange, has announced its plans to launch futures trading contracts for Dogecoin (DOGE), Litecoin (LTC), and Bitcoin Cash (BCH) by April 1, 2024. This move is set to bring more diversity and options to the cryptocurrency market, allowing traders to speculate on the price movements of
