Reports emerged in July 2022 that Huobi founder Leon Li was seeking to sell over 50% of the company due to the challenging regulatory landscape and a market downturn. By November 2022, Li had sold his controlling stake to a buyout firm, which was brokered by About Capital Management HK. Rumors circulated that TRON founder
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Coinbase has received backlash after a customer email claimed Pepe represented hate ideology. The email contained a screenshot of the “What You Should Know About PEPE” section, which stated the meme coin had been released three weeks ago with a supply of 420 trillion tokens. The email briefly explained Pepe’s origins and then claimed the
London-based cryptocurrency lender Nexo has been facing legal issues in various countries, including Bulgaria and the US. This has led the company to shut down two of its subsidiaries in the UK. Shut Down of UK Subsidiaries On May 11th, Nexo Financial Services Ltd. and Nexo Clearing and Custody Ltd. were shut down by the
Binance, the cryptocurrency exchange, experienced issues due to the volume of pending transactions, leading to a temporary pause of Bitcoin (BTC) withdrawals. The exchange explained on Twitter that large volumes of BTC withdrawal transactions were yet to be processed due to the recent surge in BTC gas fees. To resolve the issue, Binance replaced pending
US-based crypto exchange Coinbase is exploring the possibility of using the United Arab Emirates (UAE) as its hub for international services in the Middle East and surrounding regions. Coinbase’s VP of International & Business Development, Nana Murugesan, said in a tweet that the country has the potential to be a strategic hub for the exchange
Binance, a cryptocurrency exchange, has recently clarified that reports of large volumes of Bitcoin outflows were false. On May 8th, the exchange stated that reported “outflows” were actually just internal movements between hot and cold wallets due to address adjustments. Data from Coinglass showed that Binance experienced outflows of around 180,000 BTC in the last
SUI, a layer1 blockchain network, has launched its mainnet and its native token is now available for trading on major exchanges such as Binance and Bybit. The launch took place at 12:00 UTC and the token began trading for less than $2. However, the token’s price rapidly declined by 72% to $1.29 within less than
Gemini, a leading cryptocurrency exchange, has launched its derivatives platform – Gemini Foundation – in 30 countries outside of the United States. The platform will offer Bitcoin perpetual contracts denominated in Gemini dollars (GUSD) with up to 100 times leverage and Ethereum trading will be available soon. The exchange plans to expand its offerings with
The Office of Foreign Assets Control (OFAC) has reached a settlement with Poloniex for $7.6 million regarding various sanctions violations. Poloniex allowed customers in sanctioned countries to trade and transact over $15.3 million of digital currencies through 66,000 transactions between January 2014 and November 2019. Violation Details The violations took place in Cuba, Iran, Sudan,
Adam Grabski, an investor in Coinbase, has filed a lawsuit in the Delaware Chancery Court claiming that certain executives and board members of Coinbase used inside information to avoid losses from Coinbase stock sales. According to Bloomberg, the lawsuit alleges that Brian Armstrong, the Chairman and CEO of Coinbase, board member Marc Andreessen, and other