Bitfinex’s parent company, iFinex, has announced plans to buy back $150 million worth of shares from users who were given these shares as compensation for the 2016 hack on the Bitfinex crypto exchange. The buyback offer comes as a result of the exchange’s positive performance in recent years. In the aftermath of the hack, Bitfinex […]
Coinbase, one of the largest cryptocurrency exchanges in the US, is facing a legal battle over its status as an unregistered exchange. The Securities and Exchange Commission (SEC) has taken action against Coinbase, which is seen as a crucial moment for the future of the crypto industry. Critics argue that the SEC is enforcing regulations […]
A Brazilian congressional committee has released a report recommending indictments against Binance CEO Changpeng Zhao (CZ) and other executives for unauthorized financial activities. The report accuses them of offering unauthorized securities training and improper management practices. The committee, led by congressional deputy Ricardo Silva, also calls for further investigation into Binance’s affairs, focusing on the […]
Cryptocurrency exchange Bitstamp plans to halt its operations in Canada starting from January 8, 2024. The exchange has advised its Canadian customers to withdraw their funds and deactivate their accounts before the deadline. Bitstamp’s decision to exit the Canadian market is primarily due to timing issues and the need to focus on regions where it […]
Cryptocurrency exchange Binance is introducing a new feature called self-transaction prevention (STP) to prevent users from incurring unnecessary trading fees. Starting from October 26th, the STP function will be available for all spot and margin trading users. The default mode for all trading pairs and orders will be the “expire maker” STP mode. Users will […]
The trial of former FTX CEO, Sam Bankman-Fried, resumed on October 10, with his ex-girlfriend and Alameda Research’s former CEO, Caroline Ellison, testifying against him. Ellison confirmed their on-and-off relationship and provided key insights into Bankman-Fried’s alleged misappropriation of FTX customers’ funds through Alameda. She admitted to committing fraud alongside the defendant and stated that […]
Embattled FTX founder Sam Bankman-Fried reportedly wanted to shut down his other company, Alameda Research, due to the negative attention it brought to FTX. In an unpublished post shared by a former Alameda employee, Bankman-Fried described the company as both a success and a failure, but ultimately felt that the FUD (fear, uncertainty, and doubt) […]
The North American Securities Administrators Association (NASAA) has argued that digital assets should not be treated as special and should be subject to securities laws, supporting the United States Securities and Exchange Commission (SEC) in its lawsuit against Coinbase. The SEC sued Coinbase in June, accusing the crypto exchange of violating federal securities laws. Coinbase […]
Hong Kong-based iFinex Inc., the parent company of cryptocurrency exchange Bitfinex, has proposed a $150 million share buyback in an effort to consolidate its private operations amidst increasing regulatory oversight in the cryptocurrency industry. The buyback offer, which remains open until October 24, aims to repurchase 15 million shares at $10 each, representing approximately 9% […]
A Brazilian congressional committee has recommended the indictment of Binance CEO Changpeng Zhao and three other executives following an investigation into financial pyramid schemes in Brazil. The committee’s 500-page report accuses Zhao and the executives of fraudulent management practices, operating without sufficient authorization, and offering securities trading without authorization. The report claims that Binance and […]
