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Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits
12.12.2022
Cryptocurrency exchange Bybit has announced upcoming changes to its know-your-customer (KYC) policy that will limit certain operations for unverified customers. The stricter requirements concern coin purchases with fiat money, NFT transactions, and withdrawal limits. Bybit to Limit Services...
Binance and Crypto.com Publish Proof-of-Reserve Audits Conducted by Global Auditor Mazars Group
10.12.2022
This week two cryptocurrency exchanges provided proof-of-reserves in order to highlight that the trading platforms are backing customer assets 1:1. Binance published its report on Dec. 7, 2022, and detailed the global auditor Mazars Group conducted the audit. On Dec. 9, 2022, the exchange...
Binance Suspends Account of Customer for Being ‘Unreasonable’
9.12.2022
The user, who goes by the name "CoinMamba" on Twitter, started criticizing the exchange after some of his funds allegedly got stolen on his Binance account, but the exchange cited threats made to its customer service team in explaining the suspension
Bankruptcy judge orders $44M in crypto to be returned to Celsius customers
8.12.2022
The funds are made up crypto held within custody accounts on Celsius that had not been transferred from earn accounts
FTX hires forensics team to find lost customers’ billions: Report
8.12.2022
Lawyers have claimed FTX assets are either stolen or missing and now a team of financial forensic experts is attempting to trace the money trail
Developer of Popular MetaMask Wallet Reduces Customer Data Retention to 7 Days After Backlash From Community
7.12.2022
ConsenSys, the developer of the popular crypto wallet MetaMask, has reduced the retention of MetaMask user data to 7 days following massive community backlash.
In a November 6 blog post, the company announced its data retention update, reducing the amount of time it will keep user data such...
Coinbase CEO Slams Sam Bankman-Fried for Blaming FTX’s $8 Billion Hole on ‘Accounting Error’
7.12.2022
The chief executive of the Nasdaq-listed cryptocurrency exchange Coinbase, Brian Armstrong, has slammed former FTX CEO Sam Bankman-Fried (SBF) for claiming that FTX is missing $8 billion due to an “accounting error.” He stressed: “It’s stolen customer money used in his hedge...
Court in China Recognizes NFTs as Virtual Property Protected by Law
6.12.2022
A court in the Chinese city of Hangzhou has determined that non-fungible tokens, or NFTs, represent virtual property protected by the laws in the People’s Republic. The ruling comes from a case over a dispute between a customer and a platform hired to sell a collection of tokens. Hangzhou Internet...
Swyftx cuts 40% of staff as it braces against 'worst-case scenario'
5.12.2022
The Australian crypto exchange said while it had no exposure to FTX, it was "not immune" to its fallout
Despite endless media appearances, SBF unlikely to testify on 13th
5.12.2022
One observer suggested Bankman-Fried may be reluctant to discuss FTX due to the legal implication of lying under oath to the U.S. Congress
FTX Japan Plans to Restart Local Customer Withdrawals
2.12.2022
FTX has approved its Japanese subsidiary's plan to restart withdrawals for customers
Cryptocurrency Law Approved in Brazil — Green Mining Tax Exemptions and Asset Segregation Issues Left Out
1.12.2022
A cryptocurrency law, which had been in discussion for several months, has been approved by the Chamber of Deputies in Brazil after having shed some of the changes presented by the Senate. The proposal left out two planned tax exemptions for green mining operations and the issue of segregating...
Former FTX CEO Sam Bankman-Fried denies "improper use" of customer funds
1.12.2022
According to the former CEO, at the time of filing for bankruptcy “FTX US was solvent.”
EmpiresX 'head trader' to face 4 years of prison over $100M crypto 'Ponzi'
1.12.2022
Two other associates that helped run the U.S.-based fraudulent crypto platform EmpiresX left the country early this year and are believed to be in Brazil
FTX reportedly used Alameda's bank accounts to process customer funds
29.11.2022
Former FTX CEO Sam Bankman-Fried, in a conversation with Vox admitted to using Alameda’s banking facilities for FTX user deposits
JPMorgan Expects Major Changes Coming to Crypto Industry and Regulation Post FTX Collapse
29.11.2022
JPMorgan has outlined key changes it expects in the crypto industry and its regulation following the collapse of crypto exchange FTX. The global investment bank envisages several new regulatory initiatives, including those focusing on custody, customer asset protection, and transparency. JPMorgan...
Binance Publishes Its Proof-of-Reserves System for Bitcoin Holdings, Additional Assets Coming Soon
25.11.2022
On Nov. 25, the largest cryptocurrency exchange in terms of daily trade volume, Binance, published its bitcoin proof-of-reserves (POR) system using The Merkle approach. At the time of writing, the snapshot provided by Binance shows the firm’s onchain reserves equate to 582,485 bitcoin, while...
FTX Co-Founder Sam Bankman-Fried Faces US Extradition, Bankruptcy Court Says Top Execs Won’t Be Compensated
22.11.2022
According to a report citing three people familiar with the matter, the former FTX CEO Sam Bankman-Fried (SBF) may be extradited to the United States for questioning. After it was alleged that SBF transferred $10 billion in customer funds to Alameda Research, the company’s financials show between...
Crypto scammers are using black market identities to avoid detection: CertiK
18.11.2022
The blockchain security firm has uncovered a new tactic used by crypto scammers as the industry continues to improve its fraud detection capabilities
Binance receives FSP from FSRA of ADGM to enhance customer safety
17.11.2022
Binance has gained the capability of allowing its professional clients to claim custody. The update follows the development wherein the crypto platform has received Financial Services Permission from the Financial Services Regulatory Authority of ADGM, short for Abu Dhabi Global Market. Receiving...