Crypto Exchange Financial News

Gemini, the cryptocurrency exchange founded by the billionaire twins Tyler and Cameron Winklevoss, has resorted to a popular tactic to boost activity on its derivatives exchange. 

Binance has laid off more than 1,000 people in recent weeks in a continuing exercise that could result in the exchange losing more than a third of its staff, the Wall Street Journal reported on Friday, citing a person familiar with the moves. Last week, a string of executives also quit Binance, which included its Chief Strategy Officer Patrick Hillmann. U.S. regulators last month sued the crypto exchange and its CEO Changpeng Zhao for allegedly operating a «web of deception.» Binance has said it would defend itself «vigorously.» More employees were laid off this week, according to former employees, who said customer-service workers were heavily affected. The cuts were global, including about three dozen customer-service employees in India, the report added.

Australia's financial regulator has visited Binance offices as part of an ongoing probe into the company's defunct local derivatives business. 

Brazilian lawmakers have summoned the heads of major crypto exchanges to parliament, with representatives of the trading platforms Binance, Bitso, and OKX all set to attend.

South Korea-based Delio is currently under scrutiny as the country's Financial Services Commission (FSC) investigates the crypto lending firm for alleged fraud, embezzlement, and breach of trust.

Singapore has announced plans to impose a trust requirement on cryptocurrency exchanges in a bid to instill confidence in the market and protect investors from potential losses. 

Binance has launched a regulated cryptocurrency exchange in Kazakhstan amid growing regulatory troubles in the West.

Crypto exchange Gemini has announced plans to expand into the Asia-Pacific (APAC) region to capture the “next wave of growth for crypto.”

EDX Markets, a cryptocurrency platform backed by Charles Schwab (SCHW), Fidelity and Ken Griffin's Citadel Securities, launched trading for bitcoin (BTC), ether (ETH), litecoin (LTC), and bitcoin cash (BCH).

The crypto market, known for its volatility, has recently experienced a significant downturn, leaving investors and enthusiasts concerned about the future of digital assets. 

Major cryptocurrency exchange Crypto.com has come under scrutiny for deploying internal teams to trade tokens for profit. 

crypto exchange. The next day, the SEC sued Coinbase, alleging misconduct by America’s largest crypto exchange. The SEC's actions against both Binance and Coinbase were not entirely unexpected, given the signals (threats, warnings) from the SEC in recent times.

Finance is a constantly evolving field, especially these days--with new technologies like cryptocurrencies, blockchain, and decentralization disrupting traditional ideas of value, investment, and ownership.

The Chinese finance hub is racing regulators around the world to lay down ground rules for crypto after high-profile failures like trading platform FTX, which led the United States to crack down on a sector worth more than $1 trillion. China has had a strict crypto ban since 2021, but in Hong Kong — which operates on a separate legal framework — trading has been allowed though unregulated, meaning individual investors resort to unlicensed platforms. The regulatory regime launched Thursday means that after a one-year transition period, all crypto exchanges in Hong Kong must be licensed, and will be able to take on retail clients.

Binance Holdings Ltd. and its Chief Executive Officer Changpeng Zhao of breaking US securities rules, a major escalation in the legal woes facing the crypto exchange. In a case filed in US federal court on Monday, the US Securities and Exchange Commission alleged that the firm flouted investor protection rules by operating unregistered exchanges, misrepresenting trading controls and selling unregistered securities, among other violations. “Through thirteen charges, we allege that Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law,” SEC Chair Gary Gensler said in a statement. “The public should beware of investing any of their hard-earned assets with or on these unlawful platforms.” A representative for Binance didn’t immediately respond to a request for comment. On Twitter, Zhao said his team would review the complaint. The case follows a lawsuit from the US derivatives watchdog in March that alleges Binance and Zhao routinely broke its rules. At the time, the exchange and Zhao defended their compliance efforts and called the lawsuit by the Commodity Futures Trading Commission disappointing, while also pledging to keep working with regulators.

Major crypto exchange Gate.io has threatened to take legal measures against those spreading rumors of its possible bankruptcy. 

Binance has seen its market share shrink by 25% over the last three months amid increased regulatory pressure from US regulators. 

Crypto exchange Bybit has announced plans to exit Canada, citing growing regulatory scrutiny in the country. 

Malaysian police have swooped on what they suspect to be an illegal, international USDT-powered crypto exchange.

The New York Attorney General’s office has ordered crypto trading platform Coin Cafe to repay $4.3 million to users for charging hidden fees. 

Crypto veteran Loomdart is supporting an FTX reboot as a way to make creditors whole and increase trust in the industry.