Binance said that the Securities and Exchange Commission’s (SEC) move to freeze the assets of its American affiliate, Binance.US, would effectively destroy the crypto exchange. The SEC filed a temporary restraining order on June 12,to freeze Binance.US’s funds until it was able to prove that no one at the firm, including its CEO, Changpeng “CZ” Zhao, could access…

The Securities and Exchange Commission (SEC) settled a case with the cryptocurrency exchange Kraken, as it cracked down on one of its U.S. operations. Kraken agreed to shut down its cryptocurrency staking service and paid a $30 million fine to settle charges that it failed to register the offer or sale of the program, the SEC…

The U.S. Securities and Exchange Commission (SEC) has warned Americans over the risk of including assets like cryptocurrencies in their self-directed individual retirement accounts (IRAs) as well as unregulated trading platforms posing as exchanges. Some self-directed IRAs offer investment in crypto assets like tokens, coins, and virtual currencies. Such assets “may be securities that are…

Coinbase will be cutting a fifth of its workforce following an earlier staff reduction in June 2022 in an attempt to preserve its assets as the crypto industry faces a severe downturn. Some of the largest firms in Silicon Valley in general have been delivering a steady stream of job cut announcements in recent months….

Binance, the world’s biggest crypto exchange, is under heavy scrutiny as $22 trillion worth in hidden trades were found, according to a recent report. The exchange is currently attempting to drum up confidence after a surge in customer withdrawals and a massive drop in the value of its digital token, BNB, has it facing a reliability…

Sam Bankman-Fried, the former CEO of the bankrupt crypto exchange FTX, has dismissed the notion that users of the platform will not recover anything substantial from the collapsed firm. In an interview with YouTube commentator Tiffany Fong, Bankman-Fried said that FTX U.S. will get “a dollar on the dollar” and that international users can expect…

The collapse of the crypto exchange FTX has triggered fears of a potential contagion spreading in the market, with withdrawals at another exchange, Crypto.com, jumping after it admitted to making a transaction mistake. FTX, one of the largest crypto exchanges, filed for bankruptcy last week following a report by CoinDesk which revealed that the balance…

After several months of calm in the crypto industry, characterized by a role reversal in which equities were highly volatile and cryptocurrencies flat and boring, a familiar if tragic drama reminiscent of Icarus is now playing out. This week saw the dramatic failure of FTX, one of the world’s largest cryptocurrency exchanges, and the ignoble…

Japanese crypto exchange Coincheck Inc. looks to go public in the U.S. via a special purpose acquisition company merger with Thunder Bridge Capital Partners IV Inc. in a $1.25 billion deal. The transaction also includes an earn-out of up to 50 million shares. The deal would provide proceeds of $237 million to the combined company. The combined entity…

Hackers have taken millions from cryptocurrency trading platform BitMart during a “large-scale security breach,” the company announced in a statement on Monday. BitMart, which provides real-time trading services including Bitcoin, Ethereum, and Tether trading, said that the hackers were able to withdraw about $150 million in assets. However, blockchain security and data analytics firm Peckshield, which was the…