Following the consequential effects of the bear market, Coinbase cryptocurrency exchange has reportedly recorded losses of $500 million in 2022 thereby dragging down its revenue by more than 50%.
Author: qaasim
qaasim
Salaam Rasak entered the crypto space while completing his Masters degree and has continued to dig deep into Web3 space since then, writing articles related to Web3 and blockchain. He started working with Blockchain Journal in September 2022.
In accordance with the objectives of Binance to ensure trading is made easy and seamless for its customers, the cryptocurrency exchange has eliminated all trading fees for Ethereum (ETH) exclusive to Binance U.S.
Following ongoing investigation into Terraform labs, a federal judge handling the Three Arrows Capital’s (3AC’s) bankruptcy proceedings has issued a subpoena demanding the presence of 3AC’s leadership – Su Zhu and Kyle Davies.
Following divergent remarks over the collapse of crypto exchange FTX, CBNC contributor and Chairman of O’Shares and Beanstox, Kevin O’Leary has tacitly defended the former FTX Boss Sam Bankman-Fried on the FTX imbroglio.
Against the backdrop of several developments in the crypto space, crypto lending platform Nexo has decided to leave the United States over unclear regulations, stating that it will no longer accept new registrations and operations for new customers will be ended soon.
Following the recent response of the former FTX Boss Sam Bankman-Fried that he might not honour the House Finance Services Committee hearing slated for Dec. 13, the committee’s chair Maxine Waters has countered him, stressing that he must show up.
Following ongoing crypto winter, Australian crypto exchange Swyftx announced on Dec. 5 the sacking of 35% of staff as part of efforts in preparation for a full-fledged bear market.
Sequel to the invitation posed by the United States House Committee on Financial Services to the former FTX boss Sam Bankman-Fried (SBF), the latter has stylishly rejected the invite on the premise that he is yet to fully understand and review what led to the FTX collapse.
Against the backdrop of the FTX liquidity crisis that led to the halt of withdrawal on the crypto exchange, the Japanese subsidiary which is a subset of the bankrupt FTX has rolled out plans to resume withdrawals for customers.
In light of the ongoing efforts by the state institutions to regulate cryptocurrencies due to the collapse of FTX, the New York State Department of Financial Services (DFS) has initiated a proposal to charge crypto companies for regulating them.