Vignesh Karunanidhi

Milk Road Writer
Vignesh has been a seasoned professional in the crypto space since 2017. He has been writing for over 6 years and specializes in writing and editing various types of crypto content, including news articles, long-form pieces, and blog posts, all focused on sharing the beauty of blockchain and crypto.

July 18, 2024

Indian Crypto Exchange WazirX Reportedly Hacked: $230M Stolen

The Indian cryptocurrency exchange WazirX has reportedly fallen victim to a hack. According to the details from the security platform Cyvers, multiple suspicious transactions were identified. The suspicious transactions involved their multisig wallet on the Ethereum network.  Key points: Indian crypto exchange WazirX reportedly hacked. Cyvers identified multiple suspicious transactions from its multisig wallet. A......

July 18, 2024

Cardano Co-Founder: Vote for Biden Is a Vote for Death of US Crypto Industry

Cardano co-founder Charles Hoskinson has put out a tweet in response to Vitalik Buterin's thoughts on pro-crypto candidates.  Hoskinson's view was quite opposite to that of Vitalik, who released a blog post against choosing your political allegiances based on who is pro-crypto. Key points: Vitalik Buterin released a blog post against choosing pro-crypto political leaders.......

July 17, 2024

FTX and CFTC Reach Landmark $12.7 Billion Settlement

Troubled crypto exchange FTX has reached an agreement with the U.S. Commodity Futures Trading Commission (CFTC). The duo agreed to shake hands on a $12.7 billion settlement. If the settlement is approved, it could pave the way for the exchange's reorganization and provide a measure of closure for its creditors. Key points: Settlement comprises $8.7......

July 16, 2024

Mt. Gox Moves Nearly $9 Billion in Bitcoin, BTC Price Reacts

The Mt. Gox cold wallet has begun moving billions in Bitcoin. In the last few hours, the wallet moved bitcoin worth almost $9 billion, according to Arkham data. Key points: Mt. Gox cold wallet transfers 47,229 BTC (approximately $3 billion) to an unknown address. An additional 44,527 BTC ($2.84 billion) moved to another wallet Mt.......

July 16, 2024

Chainalysis Highlights Rising Usage Of Crypto For Money Laundering

A recent report by blockchain analytics firm Chainalysis sheds light on the growing use of crypto in money laundering operations. Key points: Nearly $100 billion in illicit funds transferred to conversion services since 2019. Record $30 billion in laundered funds identified in 2022 Crypto mixers, cross-chain bridges, and wallet "hops" are common laundering techniques The......

July 15, 2024

Hong Kong Shares List of 7 Suspicious Crypto Exchanges

The Hong Kong Securities and Exchange Commission has released an updated list of crypto exchanges that are operating without a license in the jurisdiction. According to the details shared by the SFC, these firms are believed to be or already have targeted Hong Kong investors.  Key points: SFC releases an alert list to crypto investors.......

July 15, 2024

Crypto Funds See $1.44B Inflows as Bitcoin Reclaims $62,000

According to the latest report from CoinShares, the crypto sector has seen a $1.44 billion inflow of capital as the market turned bullish. The crypto market seems to have escaped the FUD around German government Bitcoin sales as the wallet emptied all of its holdings. Key points: Total inflows into digital asset investment products reach......

July 12, 2024

After Paxos, SEC Ends Investigation into Hiro Systems

Just one day after the SEC ended its investigation into Paxos, the commission is dropping another investigation.  According to the details from a recent filing, the SEC has ended its investigation of Hiro Systems.  Key points: The SEC ends its three year long investigation into Hiro. Details from the filing show that the SEC is......

July 12, 2024

German Government Now Has Only 9K Bitcoin Left to Offload

After a few weeks of back-to-back selling, the German government now has only around 9094 Bitcoin left in its wallet. Key points: German government now only holds 9094 BTC. The value of the current holdings stands at around $519 million. German government hasn't moved any Bitcoin in the last 13 hours. At the current pace,......

July 11, 2024

SEC Drops Paxos Investigation: Major Win for Stablecoins

The Securities and Exchange Commission (SEC) has decided to conclude its investigation into Paxos, according to a report by Fortune. This decision comes more than a year after the commission issued a Wells notice to Paxos. Key points: SEC ends probe into Paxos without recommending enforcement action. Paxos expresses relief and anticipates accelerated enterprise partnerships.......

July 11, 2024

US Inflation Drops to 3%, Crypto Market Turns Green

The US economy has slightly recovered from the consistent grip of inflation in June. According to the latest report from the Labor Department, the CPI inflation rate has dropped to 3%. Key points: CPI showed a 0.3% drop in June, defying economists’ expectations of 3.1%. Core CPI falls to 3.3%, lower than the expected 3.4%.......

July 11, 2024

Compound Finance Website Hijacked: Users Warned of Phishing Threat

The official website of Compound Finance, a leading lending protocol, has been compromised. The incident has prompted urgent warnings from both the project team and independent crypto sleuths. Key points: Compound Finance's official website (compound.finance) redirects to a phishing site. Users are strongly advised not to visit or interact with the website. The compound protocol......

July 11, 2024

Pro-Crypto Donald Trump Set to Speak at Bitcoin 2024 Conference

Former President Donald Trump has been announced as a keynote speaker at the upcoming Bitcoin 2024 conference. The announcement was made by the official X account of The Bitcoin Conference. Key points: Trump will speak at Bitcoin 2024 in Nashville, Tennessee, from July 25–27. The conference has moved from Miami to Nashville for its fourth......

July 11, 2024

BitMEX Pleads Guilty to AML Violations

BitMEX has admitted to failing to maintain its anti-money laundering (AML) protocols. The revelation was made by the United States Department of Justice in a recent press release. Key points: BitMEX pleads guilty to Bank Secrecy Act volation. The exchange operated without an adequate AML program from 2015 to 2020. U.S. authorities allege the platform......

July 10, 2024

Elliptic Exposes Huione Guarantee: Uncovers $11 Billion Crypto Scam

Blockchain analytics firm Elliptic has exposed a crypto fraud ecosystem centered around Huione Guarantee. Huione Guarantee is an online marketplace based in Cambodia.   Key findings: Huione Guarantee-linked wallets have processed over $11 billion in crypto transactions since 2021. The platform specializes in services for crypto scammers, including money laundering and fake crypto investment site creation.......

July 8, 2024

Bitcoin Nosedives As German Government Moves Over $850M In BTC

In a series of transactions, the German government has moved 15,347.723 Bitcoin (BTC) over the past 24 hours. This large-scale movement of BTC valued at approximately $850 million, has triggered the market once again. Key points: German government transferred 15,347.723 BTC in 24 transactions. Funds were moved to major exchanges, including Coinbase, Bitstamp, Kraken, and......

July 8, 2024

Crypto Funds See $441M Inflows as Mt. Gox Bitcoin Pressure Eases

According to the latest report from CoinShares, the crypto sector has seen a $441 million inflow of capital despite the bearish sentiment. The inflow is despite the selling pressure from Mt. Gox and the German government.  Key points: Bitcoin attracted $398 million in inflows, representing 90% of total investments. Solana gained major investor interest. Regional......

July 5, 2024

Bitcoin Slumps Below $54,000 as Mt. Gox Moves 47,228 BTC

Bitcoin's price plunged below $54,000 in the last 24 hours, triggering a bloodbath in the overall crypto market. The sudden crash was likely triggered by an unexpected move from the infamous Mt. Gox exchange.   Key points: Mt. Gox transfers 47,228 BTC (worth $2.71 billion) from cold storage to a new wallet. Bitcoin price dropped from......

July 4, 2024

‘Rich Dad Poor Dad’ Author Predicts Bitcoin To Hit $10 Million

Robert Kiyosaki, the author of "Rich Dad Poor Dad," has once again shared his forecast on Bitcoin. In a recent tweet, Kiyosaki paints a picture of an upcoming economic doom followed by an extraordinary bull market. Key points: Kiyosaki predicts a major market crash affecting real estate, stocks, bonds, and cryptocurrencies. He anticipates a major......

July 3, 2024

Consensys Bolsters MetaMask Security with Wallet Guard Acquisition

Consensys has announced its acquisition of Wallet Guard. This acquisition marks a major step towards enhancing user protection within the cryptocurrency ecosystem. Key points: Wallet Guard's advanced security features to be integrated into MetaMask. Acquisition aims to improve scam and drainer detection capabilities. Consensys targets "zero user fund losses" through enhanced security measures. The integration......

July 3, 2024

Ethereum Poised to Outshine Bitcoin After Spot ETH ETF Launch: Report

The crypto industry is counting the days until the launch of spot Ethereum ETFs in the United States. At the same time, industry experts are forecasting a potential shift in the performance dynamics between Ethereum and Bitcoin. K33 Research analysts Vetle Lunde and David Zimmerman have a case for Ethereum's potential outperformance in the weeks......

July 1, 2024

Circle Launches MiCA-Compliant USDC and EURC Stablecoins in Europe

Stablecoin issuer Circle has announced its compliance with the European Union's Markets in Crypto-Assets (MiCA) regulations. According to Circle CEO Jeremy Allaire, this move positions Circle as the first global stablecoin issuer to adhere to the new EU stablecoin laws. Key points: Circle is now authorized as an e-money issuer by the ACPR in France.......

July 1, 2024

Sony Ventures into Crypto Realm with Potential Exchange Relaunch

The technology and entertainment conglomerate Sony is gearing up to launch its own crypto exchange. This development comes as the company revamps WhaleFin, a crypto exchange it acquired last year. Sony is transforming it into a new entity called S.BLOX Co. Key points: Sony's subsidiary, Quetta Web Co. acquired WhaleFin in August 2023. The rebranded......

June 28, 2024

Kraken Co-Founder Jesse Powell Makes $1M Crypto Donation to Trump

Crypto exchange Kraken co-founder Jesse Powell has announced a substantial donation to Donald Trump's presidential campaign. Powell mentioned in his tweet that he made the $1 million donation primarily in Ethereum (ETH). Key points: Jesse Powell donates $1 million in crypto to Donald Trump's campaign. The donation is largely in Ethereum (ETH). Powell cites regulatory......

June 27, 2024

Crypto Industry Lost $572 Million to Hacks in Q2 2024: Immunefi

The crypto industry faced a storm of security breaches and hacks in the second quarter of 2024. The fleet of events resulted in a whopping $572.7 million in losses. The details were released by blockchain security firm Immunefi in its Q2 report. Key findings from the Immunefi report: Total losses reached $572,688,861 across 72 incidents......

June 27, 2024

Coinbase Takes Legal Action Against SEC and FDIC

Coinbase CLO Paul Grewal has announced the filing of lawsuits against the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC). Grewal mentioned in his tweet that these legal actions were initiated under the Freedom of Information Act (FOIA). The company seeks to compel the agencies to release crucial information that could......

June 26, 2024

Ripple CEO Says Biden Will Lose Election Because of SEC’s Gensler

In his interview on Bloomberg Live, SEC Chair Gary Gensler took another jab at the crypto industry. Gensler's recent statement pushed the Ripple CEO to speak about Gensler and his actions against the crypto industry. Key points from Gensler's statement: Thousands of tokens are being offered as investment contracts without proper disclosure. Intermediaries like exchanges......

June 26, 2024

Robert Kiyosaki Shares His Bitcoin Strategy Amid the Dip

Robert Kiyosaki, the author of "Rich Dad Poor Dad," has once again shared his insights on Bitcoin investment strategies. In his latest tweet, Kiyosaki spoke about the recent Bitcoin crash and what he is doing during this dip. Key points: Kiyosaki views market crashes as buying opportunities He advocates for a "buy and hold" strategy......

June 24, 2024

Mt. Gox to Start Bitcoin and Bitcoin Cash Repayments in July

Mt. Gox rehabilitation trustee Nobuaki Kobayashi has announced that repayments in Bitcoin and Bitcoin Cash to creditors will begin in July 2024.  The latest announcement has given a sigh of relief to thousands of investors who lost their money in the exchange hack. https://twitter.com/MilkRoadDaily/status/1805165863416250553 Key points: Repayments in Bitcoin and Bitcoin Cash will begin in......

June 21, 2024

U.S. Lawmakers Urge Nigeria To Drop Charges Against Binance Executive

United States lawmakers French Hill and Chrissy Houlahan recently paid a visit to the detained Binance executive in Nigeria. In one of his recent tweets, Hill underscored the pathetic condition that Tigran Gambaryan is going through in the Nigerian prison. https://twitter.com/RepFrenchHill/status/1803898800966091087 The drama between Binance and the Nigerian government has been going on for a......

June 20, 2024

MicroStrategy Acquires 11,931 Bitcoin For $786M, Holds 226,331 BTC

MicroStrategy has made another Bitcoin purchase amidst the slumping market conditions. According to a tweet by the company’s former CEO, Michael Saylor, MicroStrategy has acquired 11,931 BTC for approximately $786 million. As per the details, the company used proceeds from convertible notes and excess cash for the purchase. The average purchase price for this latest stash stands......

June 20, 2024

India Slaps Binance with $2.2 Million Fine Over AML Violations

Binance has been slapped with a fine of approximately $2.2 million (18.82 crore INR) by India's anti-money laundering unit. The fine is for providing services to Indian clients without complying with the country's anti-money laundering (AML) regulations. The announcement was made by the Financial Intelligence Unit (FIU) on Thursday. The penalty comes after Binance and......

June 19, 2024

CertiK Claims Responsibility for Identifying Kraken’s Critical Bug, Sparking Controversy

Crypto exchange Kraken announced that it faced a critical security vulnerability a few days ago. According to the details, the vulnerability allowed attackers to artificially inflate their account balances without even making deposits. https://twitter.com/MilkRoadDaily/status/1803459698185679063 The issue was initially brought to light through the exchange's Bug Bounty program. According to Nick Percoco, Kraken's Chief Security Officer,......

June 19, 2024

SEC Closes Investigation into Ethereum, ConsenSys Declares Major Win

In a major development for the Ethereum ecosystem, ConsenSys has announced that the Enforcement Division of the U.S. SEC has ended its investigation into Ethereum 2.0. Now that the investigation is closed, the SEC will not bring charges alleging that sales of ETH are securities transactions. Key points: The SEC's Enforcement Division has notified ConsenSys......

June 18, 2024

41% of ZKsync Airdrop Recipients Sell Entire ZK Allocation: Report

The much-awaited airdrop of ZKsync's native token, ZK, has seen a large number of recipients sell their tokens within just 24 hours of the token's launch. According to data from blockchain analytics firm Nansen, nearly 41% of the top 10,000 addresses that received the ZK token have completely sold their airdrop allocation. The data also......

June 14, 2024

Bernstein Predicts Bitcoin (BTC) to Reach $1 Million by 2033

Bernstein analysts Gautam Chhugani and Mahika Sapra forecast the Bitcoin (BTC) price to hit $1 million by 2033. The analysts also predicted the price would reach a cycle high of $200,000 by 2025. The research firm cited unprecedented demand from spot exchange-traded funds (ETFs). Bernstein has initiated coverage on MicroStrategy. The firm is one of......

June 13, 2024

MicroStrategy To Purchase More Bitcoin (BTC) with $500M Capital Raise

Michael Saylor, the former CEO of MicroStrategy, has announced the firm's intention to offer $500 million in convertible senior notes. The move is aimed at raising funds to acquire additional Bitcoin and support general corporate purposes. Key points: MicroStrategy plans to offer $500 million in convertible senior notes to qualified institutional buyers. The company may......

June 12, 2024

Federal Reserve Keeps Interest Rates Steady at 5.25%–5.50%

The Federal Reserve has decided to keep its key interest rate unchanged once again. The much awaited data now reveals that the FED is taking a cautious approach to monetary policy despite recent signs of cooling inflation. Key points: The Federal Reserve kept its key interest rate steady. The central bank revised its rate cut......

June 12, 2024

US Inflation Drops to 3.3%, Crypto Market Turns Bullish

The US economy has slightly recovered from the consistent grip of inflation in May. According to the latest report from the Labor Department, the CPI inflation rate has dropped to 3.3%. Key points: CPI showed no monthly increase in May, defying economists' expectations of a 0.1% rise. The annual CPI inflation rate stood at 3.3%,......

June 11, 2024

ZKsync to Airdrop 3.675 Billion ZK Tokens

Matter Labs, the firm behind the Ethereum layer-2 network ZKsync Era, has announced the distribution details for its ZK token airdrop. In a blog post released on Tuesday, the company revealed that 17.5% of the total 21 billion ZK token supply will be airdropped to users. Key points: 17.5% of the total ZK token supply......

June 10, 2024

Crypto Funds See $2B Inflows; Bitcoin Remains Primary Focus

Crypto investment products enjoyed a total of $2 billion in inflows in the last week, according to a recent report by CoinShares. This latest inflow indicates the fifth consecutive week of positive sentiment. The continuous inflow also brings the total inflows over this period to $4.3 billion. The spike in inflow has also led to......

June 7, 2024

New York Attorney General Sues Promoters Over $1B Crypto Pyramid Schemes

New York Attorney General Letitia James has filed a lawsuit against two companies and their promoters. The lawsuit was filed for allegedly orchestrating crypto pyramid schemes that defrauded investors, primarily of Haitian descent, of more than $1 billion. The complaint names defendants Cynthia Petion, her husband Eddy Petion, and others as the perpetrators of the......

June 6, 2024

Kraken Considers Pre-IPO Funding Round Amid Crypto Market Rally

Crypto exchange Kraken is reportedly considering raising a final funding round ahead of a potential initial public offering (IPO). According to Bloomberg, the exchange has received inquiries from potential investors during the current crypto market rally. This has reportedly prompted discussions of a pre-IPO round. Key points: Kraken is exploring the possibility of raising more......

June 6, 2024

European Central Bank Cuts Key Interest Rates by 0.25%

The European Central Bank (ECB) has announced a decision to lower its three key interest rates by 25 basis points. This marks the first rate cut since 2019. The decision comes after nine months of holding rates steady and is based on an updated assessment of the inflation outlook and the strength of monetary policy......

June 6, 2024

Robinhood to Acquire Bitstamp in $200 Million Deal

Robinhood has announced its agreement to acquire Bitstamp in a $200 million all-cash deal. The acquisition of the U.K.-based cryptocurrency exchange is expected to close in the first half of 2025. The move marks another major step in Robinhood's efforts to expand its crypto presence globally. https://twitter.com/MilkRoadDaily/status/1798672842453897406 Key points: Robinhood will acquire Bitstamp for $200......

June 4, 2024

Thailand Approves First Spot Bitcoin ETF, Joining Global Trend

Thailand has approved the country's first spot Bitcoin exchange-traded fund (ETF). The Thai Securities and Exchange Commission (SEC) has given the green light to asset manager One Asset Management (ONEAM) to introduce the ONE Bitcoin ETF Fund. The ETF is set to be distributed between May 31 and June 6. Key points: The ONE Bitcoin......

May 28, 2024

Semler Scientific Adopts Bitcoin as Primary Reserve, Buys $40M in BTC

Semler Scientific, a leading provider of technology products and services to healthcare providers, has made a major announcement regarding its financial strategy. The company's board of directors has declared Bitcoin as its principal treasury reserve asset. The firm has signaled a strong belief in the cryptocurrency's potential as a reliable store of value. Key points:......

May 28, 2024

Mt. Gox Transfers 140,000 BTC, Triggering Bitcoin Price Drop

Wallets linked to the now-collapsed Bitcoin exchange Mt. Gox have transferred over 140,000 BTC. The coins, valued at approximately $9 billion, were moved to an unknown address. The transactions initially raised concerns and also triggered a Bitcoin price drop. Key points: Mt. Gox wallets transferred over 140,000 BTC to an unknown address in multiple transactions.......

May 24, 2024

Ethereum Foundation to Accelerate Formal Policy Addressing Potential Conflicts of Interest

The non-profit Ethereum Foundation is stepping up its efforts to create a formal policy that addresses potential conflicts of interest. This move comes in response to recent disclosures by two of its researchers, who revealed receiving "significant" EigenLayer token incentives. Key points: Ethereum Foundation Executive Director Aya Miyaguchi acknowledges the importance of the organization's credible......

May 24, 2024

Kabosu, the Iconic Shiba Inu Behind Dogecoin, Passes Away at 18

The cryptocurrency community is mourning the loss of Kabosu, the Shiba Inu, whose iconic meme became the face of Dogecoin (DOGE). Kabosu also inspired a generation of dog-themed meme coins. According to a blog post by Kabosu's owner, the cherished dog passed away peacefully on the morning of May 24, at an estimated age of......

May 22, 2024

WisdomTree Receives Approval for Bitcoin And Ethereum ETPs, Set to List on London Stock Exchange

WisdomTree, a global asset manager, has secured approval from the Financial Conduct Authority (FCA), which will enable the listing of its WisdomTree Physical Bitcoin (BTCW) and WisdomTree Physical Ethereum (ETHW) exchange-traded products (ETPs) on the London Stock Exchange (LSE). This development positions WisdomTree among the first issuers to have their crypto ETP prospectus approved by......

May 22, 2024

Coinbase, Meta, and Ripple Unite to Fight Pig Butchering Scams

Coinbase, Match Group (the parent company of Tinder and Hinge), Meta, Kraken, Ripple, Gemini, and the Global Anti-Scam Organization have joined hands to establish a new coalition called Tech Against Scams. The coalition aims to tackle the growing number of online frauds and financial scams that target consumers across various industries.  Key points: Tech Against......

May 21, 2024

SEC Requests Updates to Nasdaq and CBOE Ethereum ETF Filings

According to Reuters, the U.S. Securities and Exchange Commission (SEC) has requested that Nasdaq and CBOE amend their applications to list spot Ethereum exchange-traded funds (ETFs). Key points: The SEC's request for updates to Nasdaq and CBOE filings signals potential approval of spot Ethereum ETFs. ETH price surged by as much as 22% in the......

May 17, 2024

Kraken Mulls Removal of Tether (USDT) Amidst New EU Regulations

Kraken is actively reviewing its plans to potentially remove support for Tether's USDT on its platform in the European Union (EU). According to Bloomberg, this move comes in response to the impending implementation of the Markets in Crypto-Assets (MiCA) regulatory framework, set to take effect in July. Key points: Kraken is considering dropping support for......

May 17, 2024

Binance Executive Denied Bail in Nigeria Amid Money Laundering Trial

A Nigerian court has denied the bail application of Tigran Gambaryan, a detained Binance executive. The court cited concerns that he may attempt to evade trial. The spokesperson for Gambaryan's family announced the decision on Friday, coinciding with the executive's 40th birthday. Key points: Tigran Gambaryan, Binance's Head of Compliance, has been detained in Nigeria......

May 16, 2024

India’s SEBI Recommends Multi-Regulator Approach for Crypto Oversight

The Securities and Exchange Board of India (SEBI) has recommended that multiple regulators should oversee various aspects of crypto trading in the country. This stance, revealed in documents seen by Reuters, marks the strongest indication to date that at least some Indian authorities are open to allowing the use of private virtual assets. Key points:......

May 16, 2024

Binance Develops Algorithm to Combat Address Poisoning Scams

Binance has taken a major step towards combating the growing threat of address poisoning scams by developing an innovative algorithm. The exchange's security team has created a unique method to identify and flag millions of poisoned crypto addresses. Key points: Binance's algorithm identified 13.4 million spoofed addresses on the BNB Smart Chain and 1.68 million......

May 16, 2024

Tornado Cash Developer Appeals Money Laundering Conviction

Alexey Pertsev, the Tornado Cash developer who was recently found guilty of money laundering by the s-Hertogenbosch court in the Netherlands, has filed an appeal against his conviction. The court spokesperson confirmed that Pertsev has submitted an appeal. However, it remains unclear whether the appeal has been approved at this stage. Key points: Alexey Pertsev......

May 15, 2024

Two Brothers Indicted for $25 Million Ethereum Blockchain Heist

Anton Peraire-Bueno, 24, of Boston, and James Pepaire-Bueno, 28, of New York, have been indicted on charges of conspiracy to commit wire fraud and money laundering. According to the DOJ, the brothers allegedly orchestrated a scheme that exploited the integrity of the Ethereum blockchain to fraudulently obtain approximately $25 million worth of cryptocurrency in just......

May 15, 2024

North Korea Laundered $147.5 Million Via Tornado Cash: UN

United Nations sanctions monitors have revealed information about North Korea's illicit financial activities in a confidential report that Reuters saw on Tuesday. The report, submitted to a U.N. Security Council sanctions committee on Friday, details how the nation laundered $147.5 million through Tornado Cash in March. Key findings from the report: UN sanctions monitors investigated......

May 14, 2024

Coinbase Investigates System-Wide Outage, Assures Users’ Funds Are Safe

Coinbase is currently grappling with a system-wide outage that has left users unable to access their accounts or conduct transactions. The company has announced that it is actively investigating the issue and working on implementing a solution to restore full functionality to its platform. Key points: Coinbase is experiencing a system-wide outage, affecting all users.......

May 13, 2024

Crypto Exchange Rain Allegedly Exploited for $14.8M: ZachXBT

In a recent revelation by on-chain investigator ZachXBT, the Bahrain-based crypto exchange Rain appears to have fallen victim to a significant exploit. The exploit has resulted in a loss of approximately $14.8 million. The alleged incident, which took place on April 29, 2024, was brought to light through a Telegram post by the renowned sleuth.......

May 13, 2024

Crypto Funds See $130M Inflows, Ending 5-Week Outflow Streak

After five consecutive weeks of outflows, crypto investment products have experienced a notable turnaround, recording inflows totaling $130 million. However, despite this positive development, exchange-traded product (ETP) volumes continue to subside. They have recorded a weekly volume of $8 billion compared to the $17 billion average in April, according to a report by CoinShares. Key......

May 13, 2024

Chinese Police Bust $296 Million Illegal Crypto-Based Underground Bank

Chinese authorities have uncovered and closed down an underground bank that exploited crypto to facilitate illicit currency exchange operations between the Chinese yuan and the South Korean won. The Public Security Bureau of Panshi City, Jilin Province, successfully arrested six suspects involved in the case. The suspects completed transactions amounting to approximately 2.14 billion yuan......

May 10, 2024

Binance Registers With India’s Financial Intelligence Unit

The world's largest crypto exchange, Binance, and its rival, KuCoin, have been registered with India's Financial Intelligence Unit (FIU). This marks the first time that offshore crypto-related entities have been approved by India's anti-money laundering unit. Key points: Binance and KuCoin are among the first offshore crypto entities to be registered with India's FIU. KuCoin......

May 10, 2024

Kraken Fires Back at SEC, Arguing Agency’s Case Lacks Proper Wording

Kraken has intensified its legal battle with the United States Securities and Exchange Commission (SEC) by filing a reply to the agency's April letter regarding the company's motion to dismiss the case. Kraken argues in the latest development that the SEC has not identified any specific investment contracts traded, brokered, or settled on its platform.......

May 9, 2024

Revolut Launches Standalone Crypto Exchange Called Revolut X

Revolut, a UK fintech company, has announced the launch of Revolut X, a standalone cryptocurrency exchange. Key features of the exchange: Access to more than 100 tokens via the desktop version of the exchange. The platform offers low flat fees of 0.00% for makers and 0.09% for takers. Seamless integration with Revolut retail accounts. Real-time......