Cryptocurrency exchange Binance continues to lose some of its key executives amid increasing scrutiny of the platform from regulators around the world. Binance head of product Mayur Kamat has confirmed he is leaving the crypto exchange after nearly two years. “It is time for me to step down and transition product leadership to Binance’s next-gen…
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Brazilian cryptocurrency streamer Fraternidade Crypto is one of the latest victims of unsafe self-custody practices, reportedly losing thousands of dollars due to a private key accident. During a live stream on YouTube on Aug. 29, the owner of the Fraternidade Crypto channel, Ivan Bianco, unwittingly exposed his private key to a self-custodial cryptocurrency wallet. In the…
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As the start date of the trial of FTX co-founder Sam “SBF” Bankman-Fried approaches, new court filings indicate that SBF could pay his expert witnesses more than $1,000 an hour should they testify on his behalf. SBF may call seven expert witnesses to testify at his fraud trial, which is currently scheduled for Oct. 2, 2023.…
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Cryptocurrencies like Bitcoin (BTC) are not in their “longest ever bear market” and probably are not even in a bear market at all, according to some industry observers. MN Trading founder Michaël van de Poppe took to X (formerly Twitter) on Aug. 27 to claim that Bitcoin is currently in its “longest bear market” in…
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Cryptocurrency exchanges in Australia have been increasingly communicating with their users as part of preventative measures against scams. According to local crypto firms, such communication is the key to preventing scams as it is able to “break trust” between victims and scammers. Executives at major Australian crypto firms such as Cointree, CoinSpot and Swyftx met…
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The lenders of the bankrupt cryptocurrency lender Genesis are not satisfied with the latest in-principle settlement agreement with other parties including the Digital Currency Group (DCG). The Ad Hoc Group of Genesis Global Capital (GGC) lenders — represented by lawyers Brian Rosen and Jordan Sazant — on Aug. 29 responded to a public bankruptcy plan…
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South Korea’s parliamentary ethics subcommittee has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party. A parliamentary ethics subcommittee of South Korea has voted down a motion to expel Kim Nam-kuk, a former member of the main opposition Democratic Party (DP), the local news agency Yonhap reported…
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The CoinSwitch crypto exchange is the latest crypto trading platform in India that cut its workforce amid the prolonged cryptocurrency winter, the local news agency Moneycontrol reported on Aug. 28. The crypto exchange reportedly laid off 44 employees from its customer support division in August, citing redundancy in roles amid the bear market-triggered lack of…
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Digital Currency Group (DCG), a major venture capital firm in the cryptocurrency industry, has reached an in-principle agreement with creditors of its crypto lending subsidiary, Genesis. According to a court filing published on Aug. 29, the estimated United States dollar equivalent recoveries could amount to 70–90% for unsecured creditors, should the amended plan be approved.…
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Cryptocurrency exchange Binance continues introducing more restrictions for Russian customers on its peer-to-peer (P2P) trading platform. Binance P2P has banned Russian residents from using fiat currencies other than the Russian ruble, Binance announced on its Telegram channel on Aug. 27. Binance’s Russian clients residing outside the country have also been banned from using currencies like…
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