Crypto Industry News

Another crypto company is greatly suffering the effects of the ongoing bear market. This time, BitMEX is reportedly planning to lay off 30% of its entire workforce. A Seychelles-based crypto derivatives exchange, BitMEX is currently one of the leading players in the field. According to CoinGecko, it’s done $371 million over the past 24 hours. The […]

After months of much-publicized drama, the world’s wealthiest man, Elon Musk, has finally completed his Twitter acquisition, in a deal worth $44 billion. With new leadership, some significant changes are expected. Prior to the acquisition, Musk announced his intention to loosen Twitter’s moderation policy (including lifting Donald Trump’s ban), add new features, and find another […]

Binance has implemented an oracle network in its BNB Chain blockchain, the crypto exchange company announced. Ten popular BNB Chain projects were given an early chance to begin using the oracle, including Venus, Alpaca Finance, and Ankr. Oracles enable smart contracts to access information outside the blockchain itself, such as the price of securities or […]

The sentence in the case of Lee Jung-hoon, former chairman of the Bithumb crypto exchange, is set to be announced on December 20. Jung-hoon is facing up to eight years in prison for fraud charges if found guilty. Jung-hoon is accused of damaging in the amount of $70 million the cosmetic surgery firm BK Group, […]

In September 2021, the government of El Salvador and its president Nayib Bukele, who is known for being an enthusiastic crypto proponent, made the news after introducing Bitcoin as a legal tender in the Central American country. However, according to a new survey conducted by the José Simeón Cañas Central American University, citizens of El […]

The government of Dominica announced that it will issue its own tokens in partnership with the blockchain network Tron. Dominica Coin (DMC) is designed to promote the Caribbean country’s culture and natural wonders. DMC tokens will function as fan tokens, which Dominicans may also use as a governmentally approved medium of exchange. In addition, the […]

After the Coinbase crypto exchange, Coin Center has now also filed a lawsuit against the U.S. Treasury Department’s Office of Foreign Asset Control (OFAC) for unlawfully banning the crypto mixing service, Tornado Cash. OFAC has banned the Ethereum mixing tool because it was frequently used for money laundering. The tool allows users to mix different […]

The U.S. Treasury Department has fined the crypto exchange Bittrex based in Washington for a total of $53 million – the largest crypto fine issued by this institution so far. According to the Treasury, Bittrex has violated the U.S. sanction restrictions by allowing users from Cuba, Iran, Sudan, Syria, and Ukraine’s Crimea region to use […]

Binance Smart Chain has paused its operations following the exploit which saw the attacker take off with some $100 million. In addition, according to blockchain security company SlowMist, there is more than $400 million worth of crypto that was frozen on the BNB Chain before the hacker was able to pocket the money. The cross-chain […]

After last month’s news of a notable crypto Ponzi scheme, here’s another such case. This time, the U.S. Securities and Exchange Commission (SEC) is after Mauricio Chavez and Giorgio Benvenuto, who are involved in fraud targeting the Latino community in Houston, Texas. While Chavez has no experience with cryptocurrency, he has been teaching a class […]