Crypto investment firm Paradigm has recently taken a stand to support Binance in its bid to dismiss the U.S. Securities and Exchange Commission (SEC) lawsuit. Paradigm’s interest in the case lies in preserving the development of crypto technology within the United States and protecting other markets from unnecessary regulatory interference. An amicus brief, such as
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Alameda Research, a once-prominent company in the crypto trading industry, faced a devastating loss of nearly $200 million due to lax security practices within the organization. Aditya Baradwaj, a former engineer at Alameda, shed light on the company’s disregard for crucial risk management protocols in favor of rapid expansion. The consequences were dire, with account
The U.S. Securities and Exchange Commission (SEC) is currently engaged in a legal battle with Coinbase, a prominent cryptocurrency exchange. While the SEC maintains that Coinbase violated securities law, the North American Securities Administrators Association (NASAA) has come forward in support of the SEC’s actions. NASAA acknowledges that cryptocurrencies themselves are not inherently fraudulent but
The fifth day of the SBF trial brought to light astonishing revelations as Caroline Ellison, the CEO of Alameda Research, testified about the fraudulent practices orchestrated under the direction of Sam Bankman-Fried (SBF). Ellison confessed that she was instructed by SBF to divert billions of dollars from FTX’s customer funds, which were then used for
In a shocking revelation, UPbit, one of South Korea’s prominent cryptocurrency exchanges, reported that it had experienced a staggering 159,061 hacking attempts in the first half of this year. The data provided by Dunamu, the firm’s operator, unveils a concerning trend of escalating risks, with hacking attempts skyrocketing from 8,356 in the latter half of
In recent weeks, crypto intelligence firm Arkham Intelligence has found itself at the center of a heated controversy. A report released by whistleblower platform Crypto Leaks has accused the company of exploiting vulnerabilities at major exchanges to obtain users’ personal information. These revelations have raised serious concerns about Arkham’s business practices and have called into
An investigative report recently published in Forbes has raised concerns about the accuracy of Binance’s initial coin offering (ICO) for Binance Coin (BNB) in 2017. The report suggests that Binance may have significantly overstated the success of the ICO, as well as misrepresenting important details regarding token allocations and the amount raised during the offering.
Reports have emerged suggesting that several employees of cryptocurrency exchange FTX were aware of a backdoor that allowed Alameda to withdraw customers’ funds. These revelations, as reported by The Wall Street Journal (WSJ), have shed light on a deeply concerning situation within the company. The employees, who were part of the LedgerX team acquired by
The recent actions taken by JPEX, a cryptocurrency exchange, have sparked controversy and raised concerns among users. Reports indicate that JPEX has begun restricting withdrawals by converting user balances into a non-withdrawable cryptocurrency. This article critically analyzes the situation, explores the implications for users, and questions the transparency and legality of JPEX’s actions. According to
India is making strides in the world of cryptocurrency regulation by developing a comprehensive global database that will encompass all crypto exchanges, including those on the dark web. Set to launch by the end of the fiscal year or in March 2024, this initiative is part of India’s plan to establish itself as a leading