Category: crypto exchanges

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Is Complete Decentralization of Finance Realistic? Fed Governor Waller Says No

October 18, 2024

A Federal Reserve governor questioned whether decentralized finance (defi) can truly eliminate the need for intermediaries, despite bitcoin’s revolutionary promise. While decentralized systems aim to bypass traditional structures, he argues that trust in intermediaries still resurfaces. Could crypto ever be fully decentralized, or will it mirror traditional finance? The potential regulatory challenges and the role…
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Bybit CEO: Celebrities Should Avoid Giving Direct Crypto Investment Advice

October 12, 2024

According to Ben Zhou, founder and CEO of crypto derivatives platform Bybit, content creators play a vital role in the crypto ecosystem. Besides helping inexperienced investors and traders avoid steep losses, crypto content creators can also attract billions of people unfamiliar with or skeptical about cryptocurrencies. Rapid Industry Changes Create Information Overload However, in written…
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Nigerian Regulator Pledges to Fight Crypto Fraud

October 10, 2024

The Nigerian Securities and Exchange Commission (SEC) vows to crack down on fraud, money laundering, and market manipulation in the crypto sector. The SEC director general, Emomotimi Agama, emphasized the importance of educating investors. Lagos State Governor Babajide Sanwo-Olu said he supports regulating the crypto sector. Investor Education Nigeria’s securities regulator vows to crack down…
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Binance Rejects Wazirx’s Claims — Denies Responsibility for Hack Consequences

September 18, 2024

Crypto exchange Binance has responded to accusations from Wazirx and Zettai about how its dispute with Wazirx affects user funds lost in the July cyberattack. The company insists that responsibility for the incident lies with Wazirx’s management under Zanmai and Zettai, not Binance. Rejecting claims from co-founder Nischal Shetty, Binance maintains it “bears no responsibility…
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Wazirx Users May Face Delays Amid Binance Dispute and Moratorium Uncertainty

September 13, 2024

Indian cryptocurrency exchange Wazirx has warned users that they may have to wait until the dispute with Binance is resolved if the moratorium, filed in Singapore, is not granted. Wazirx explained that Zettai holds the cryptocurrency tokens under protest. “If Binance is deemed the owner, it becomes liable for users’ account balances. If Zettai is…
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Indonesian Crypto Exchange Hit by $20.5M Hack, Lazarus Group Suspected

September 11, 2024

Web3 security firm Cyvers detected suspicious transactions on Indonesian exchange Indodax’s wallets on September 11th. The attack involved over 150 transactions and digital assets worth an estimated $20.58 million are believed to have been stolen. Some experts suspect the North Korean hacking group Lazarus Group may be responsible due to attack characteristics. Indodax Hack Shows…
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Liminal Says Grant Thornton Confirms Its Security Amid Wazirx Breach Concerns

September 9, 2024

Grant Thornton’s review of Liminal’s infrastructure revealed no signs of any security breach within its frontend or backend systems, according to Liminal. Following a breach at Wazirx that resulted in the theft of over $230 million, internal and third-party investigations at Liminal identified a data discrepancy, though no security vulnerability was uncovered. The company emphasized…
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TON-Based Memecoin DOGS Becomes Top 100 Largest Gainer With 30% Jump

August 29, 2024

Despite adverse market conditions, dogs (DOGS) saw a significant price jump in the last 24 hours. The token, launched on The Open Network (TON), saw a 34% surge amid the market volatility and the blockchain’s recent outage. Its performance propelled the price to a market cap above $800 million, fueling a bullish sentiment among investors.…
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Centralized Exchanges See $26B in Bitcoin and Ethereum Outflows Since January

August 27, 2024

Over the past seven months, data from cryptoquant.com reveals a staggering $26 billion worth of bitcoin and ethereum has been pulled from centralized crypto exchanges. During the same period, trading platforms have seen an influx of $9.1 billion ERC20-based tethers since Jan. 1. Bitcoin and Ethereum Scarcity Grows as $26 Billion Leaves Centralized Exchange Bitcoin…
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