FTX Debtors have recently submitted an amended Chapter 11 reorganization plan, prompting concerns over potential massive losses for the defunct cryptocurrency exchange’s creditors. The plan outlines the valuation of creditors’ claims based on cryptocurrency prices from November 11, 2022, the date of FTX’s bankruptcy petition. However, this valuation fails to consider the wild fluctuations and
Exchanges
Coinbase, one of the leading cryptocurrency exchanges, recently made headlines with its decision to add Bonk (BONK), a token on the Solana network, to its list of tradable assets. This move marks a significant addition of a memecoin to Coinbase’s platform, alongside popular ones like Shiba Inu and Dogecoin. However, Coinbase’s involvement in institutional activities,
Gemini Earn, a platform that allows users to lend their cryptocurrencies, has recently provided an update on the reorganization plan from defunct crypto lender Genesis. According to the plan, as of January 19, 2023, Gemini Earn users may only receive 61% of the value of their crypto holdings. This revelation has sparked widespread outrage among
The U.S. Treasury’s Office of Foreign Assets Control (OFAC) recently announced a settlement with CoinList, a cryptocurrency exchange, for an “apparent violation” of its sanctions related to Russia and Ukraine. The violation involved the processing of 989 transactions worth $1.25 million from users who resided in Crimea, a disputed region of Ukraine that was annexed
Coinbase International, a leading cryptocurrency exchange, is set to expand its services by offering spot trading for Bitcoin (BTC) and Ethereum (ETH) starting on December 14. This move is part of the exchange’s global expansion strategy, aimed at building liquidity and creating a robust foundation for future growth. Coinbase International’s primary focus initially will be
Google recently announced its intentions to update its policy on cryptocurrencies and related products starting in January 2024. The upcoming change in advertising regulations specifically focuses on Cryptocurrency Coin Trusts, allowing advertisers in the United States to promote these financial products under certain conditions and with certification from Google. This article will delve into the
The cryptocurrency market is notorious for its volatility and constant fluctuations in prices. Over the years, it has experienced significant changes, particularly in how investors react to these price movements. While it may be evident that the market has become less volatile, a closer examination reveals a reduction in liquidations per percentage change in Bitcoin’s
The U.S. Securities and Exchange Commission (SEC) has recently requested the court to take judicial note of newly unsealed documents regarding Binance, the popular cryptocurrency exchange, and its former CEO Changpeng Zhao. The regulatory watchdog claims that these documents, which detail Binance and Zhao’s plea deals with other agencies, provide substantial evidence supporting the SEC’s
Binance, one of the world’s leading cryptocurrency exchanges, has experienced a significant decline in its Bitcoin balance in November. According to the latest proof of reserves report, the exchange’s Bitcoin holdings dropped by over 23,000 BTC, or roughly 4%. This decline coincided with Binance’s ongoing regulatory issues with U.S. authorities, which have put the platform
The UK Financial Conduct Authority (FCA) has recently added Poloniex, a cryptocurrency exchange associated with Justin Sun, to its warning list. The FCA has raised concerns about Poloniex promoting financial services without proper authorization. This article examines the FCA’s actions and the potential consequences for the exchange. In a December 6 update, the FCA stated
