Author: Afroz Ahmad

The CEO and founder of Binance, Changpeng Zhao, recently pleaded guilty to charges of money laundering. In a recent development, US District Judge Richard Jones ordered him to stay within the country until sentencing. Quick Take The court’s order for CZ to stay within the US until early next year serves as a legal challenge to Binance. The crypto market continues to display signs of great resilience. CZ might face increased legal action from regulators including the SEC. The US District Court for the Western District of Washington in Seattle has accepted CZ’s plea revolving around money laundering charges. This…

BlackRock, the largest asset manager in the world, has recently submitted an updated version of its spot BTC ETF application to the SEC. The largest crypto index fund manager, Bitwise, also took similar action but had submitted an updated application an hour before BlackRock did. Quick Take: BlackRock and Bitwise have updated their Spot Bitcoin ETF applications. SEC filing highlights how BlackRock received a sum of $100K for its BTC ETF. Bitcoin’s surge along with widespread market recovery signifies the excitement surrounding early ETF approvals. The SEC might approve the first BTC ETF earlier next year. Analysts throughout the crypto…

Robinhood has reported a staggering 75% surge in the overall trading volumes of digital assets in November 2023. The recent form 8-K filing to the SEC highlighted that the November Crypto Notional Trading Volumes were approximately 75% above the levels seen in October 2023.  Quick Take Robinhood experienced a 75% surge in its trading volume in November 2023. The crypto market’s recovery led to a 40% surge in total capitalization. Robinhood plans to expand into the UK and to launch futures trading and a credit card. Analysts in the crypto market suggest that the activity does not translate to equity…

Through its recent announcement, Coinbase has expressed plans to launch MATIC and Bitcoin Cash perpetual futures contracts on both Coinbase International Exchange and Coinbase Advanced. The analysts have pointed out that the move follows a surge in trading volumes.  Quick Take: Coinbase continues the expansion of its crypto futures options. The surge in trading prices highlights a positive crypto market sentiment. Coinbase’s ongoing legal battle with the SEC remains a point of concern. Despite regulatory uncertainties, Coinbase’s resilience in the crypto market is evident. It would become possible for users to begin trading MATIC-PERP and BCH-PERP contracts on December 7…

The uncertainty hovering around the future of Sam Altman has come to an end as he has officially returned as the CEO of OpenAI. Along with this, the firm has come up with a new board of directors and has replaced most members of the previous board who ousted Altman a few days ago. Quick Take: Sam Altman makes his way back as the CEO of OpenAI, and Mira Murati becomes the CTO again. Altman dismisses the previous board of members and adds Microsoft as a non-voting observer. OpenAI will look to prioritize AI products and features under Altman’s leadership.…

Coinbase seems to be enjoying the regulatory crackdown on its rival exchange, Binance. The Coinbase stock (COIN) has reached its highest point since May 5, 2022. Quick Take: Coinbase (COIN) surpasses the $119 mark in the stock market. The exchange looks to topple Binance from the top spot in the crypto sphere. Bitcoin halving and approval of spot Bitcoin ETFs could be a breakthrough for Coinbase in 2024. As Binance continues to struggle with legal complications, Coinbase is looking to regain its position as the leader in the cryptocurrency space. The former CEO of Binance, Changpeng Zhao, pleaded guilty to…

The cryptocurrency exchange, Bybit has come up with a rewards program to invite holders of other crypto cards. The platform looks to onboard other crypto card holders through its program. Quick Take: Bybit introduces a new rewards program for users that switch to Bybit Card. Users can get up to €25 by completing different stages and they can also enjoy several benefits over successful referrals. Bybit Card comes with a range of features, allowing users to spend their funds seamlessly. As per initial details, the reward program will offer card bonuses of up to €25 to the first 10,000 users…

The dYdX exchange has planned to unlock around $500 million worth of tokens in the platform’s first prominent token unlock event. The number of tokens accounts for 30% of the total token supply. Quick Take: dYdX exchange will unlock millions of dollars worth of tokens on December 1. The platform looks to bounce back from a $9 million hit to its insurance fund. Several tokens line up for token unlocks in an interesting week within the crypto space. The crypto industry is reaching the season of token unlocks, as many platforms have announced their token unlock events in December. One…

The HTX Exchange, previously known as Huobi Global, has claimed that it has properly handled the hacking attempt on its platform. Moreover, the exchange said that it would resume deposits and withdrawals within 24 hours. Quick Take: The HTX Exchange lost around $30 million in a recent hacking incident. A blockchain bridge, Heco Chain lost $85.4 million in an exploit. Dark clouds hover around Justin Sun-backed exchanges after suffering four attacks in the last month. As per reports, HTX was exploited for around $30 million. The value of the exploit saw a major rise from the previously reported $13.6 million…

The decentralized exchange, KyberSwap has been compromised for around $46 million across multiple blockchains in a concerning development within the DeFi space. The increasing number of hacks in the DeFi world has continued to bother the crypto community. Quick Take: KyberSwap suffers a loss of $46 million across multiple chains in a crypto hack. Hackers leave an on-chain message, toward negotiations with the platform. The TVL of the platform tanks by more than 70%. As per the update given by KyberSwap, the hacking attempt was aimed at KyberSwap Elastic. The platform also advised users to withdraw their funds as a…