Binance Moved $346 Million for Seized Bitzlato Crypto Exchange, Blockchain Data Shows

Crypto giant Binance processed almost $346 million (roughly (Rs. 2,900 crore)) in Bitcoin for the Bitzlato digital currency exchange, whose founder was arrested by US authorities last week for allegedly running a “money laundering engine,” blockchain data seen by Reuters show. The Justice Department on January 18 said it charged Bitzlato’s co-founder and majority shareholder … Read more

Post Merge, Ethereum Developers to Focus on Scaling Solutions, Staking Asset Withdrawals

Ethereum

Ethereum developers are probably heaving a sigh of relief now as the blockchain’s eco-friendly Merge upgrade is live and running. The creators are likely to shift their focus on resolving other issues related to Ethereum that would further finetune its working and use cases. Scaling solutions for the blockchain and opening up withdrawals of staked … Read more

Binance US Launches High-Yield Ether Staking Service Ahead of Ethereum’s ‘Merge’ Event

Binance US, a US-based subsidiary of the world’s largest cryptocurrency exchange, is now offering Ethereum staking with an annual percentage yield (APY) of 6 percent — a figure which is a sizable step above major competitors like Lido and Coinbase which offer 3.5 percent and 3.25 percent APY, respectively. In an announcement, Binance US said … Read more

Federal Reserve Issues Additional Guidelines for Banks Considering Crypto Activities

The US Federal Reserve on Tuesday issued additional guidance for banks considering activities involving cryptocurrencies, emphasizing that firms must notify the Fed beforehand and make sure whatever they do is legally permitted. The Fed said in a statement that while cryptocurrencies could present “potential opportunities” to banks, firms needed to make sure they had systems … Read more

Crypto.com Scores Functional License in UK to Provide ‘Certain Crypto Asset Services’

The UK’s Financial Conduct Authority (FCA) has given a nod to Crypto.com, as it seeks to expand its crypto-related business around the world. The Singapore-headquartered crypto exchange will use its license in the UK to provided services like exchanging digital assets for fiat or vice versa among others. The FCA is overseeing the expansion of … Read more

Iran Places First Import Order Using Crypto currency, Could Help Dodge US Sanctions

Iran made its first official import order using cryptocurrency this week, the semi-official Tasnim agency reported on Tuesday, a move that could enable the Islamic Republic to circumvent US sanctions that have crippled the economy. The order, worth $10 million (roughly 80 crore), was a first step towards allowing the country to trade through digital … Read more

Curve Finance Compromised by Hackers, $570,000 in ETH Stolen From Users

In the slew of hack attacks affecting the crypto industry lately, another one has made it to the list. In a frontend attack, cyber criminals compromised Curve Finance, which is a decentralised exchanged launched in 2020. The platform also works as an automated market maker (AMM) that enables the trading for stablecoins and wrapped digital … Read more

Binance Observes Surge in Clients Due to Rising Inflation, Strong Dollar

Binance, the world’s largest cryptocurrency exchange, is seeing a surge in clients due to rising inflation and a historically strong dollar that has depressed emerging market currencies, an executive told Reuters on Wednesday, without disclosing numbers. “Now that we are seeing inflation ramping up worldwide, we are seeing that more and more people are seeking … Read more

Hackers Flocking to RenBridge to Launder Stolen Crypto Funds, $540 Million Washed So Far

  At a time when blockchain bridges have been struggling to safeguard their operations from hackers, one such bridge has become a tool-of-favour for crypto criminals. As per blockchain analytics provider Elliptic, hackers have been flocking to RenBridge to wash the Crypto funds they have obtained via hacks and scams. In the last two years, … Read more

ED raids WazirX for money laundering investigation, freezes bank deposits over Rs. 64.67 crore

The Enforcement Directorate (ED) on Friday said it has frozen bank deposits of Rs. 64.67 crore as part of a money laundering probe against crypto currency exchange WazirX. The federal agency said it conducted raids against a director of Zanmai Lab Private Limited, which owns WazirX on August 3 in Hyderabad and alleged he was … Read more

Robinhood Cuts 23 Percent Workforce in Another Round of Layoff Amid Weak Quarter

Robinhood Markets said Tuesday it’s cutting nearly a quarter of its workforce, as crashing cryptocurrency prices and a turbulent stock market keep more customers off its trading app. CEO Vlad Tenev said the company, whose easy-to-use app helped bring a new generation of investors to the market, will reduce its headcount by about 23 percent. … Read more