Binance defended its practices saying that it has been “working collaboratively with the CFTC for more than two years”
cryptocurrency exchange
binance
Crypto trading giant Binance faces US lawsuit for ‘operating illegally’
The lawsuit against Binance was filed by the Commodity Futures Trading Commission (CFTC), who claimed that the firm cultivated US business while failing to register properly with authorities
AB UAE Conference
UAE has been ‘proactive’ in positioning itself as a crypto hub: AB UAE Conference
The panellists talked about the need for crypto regulations, and how the UAE has unlocked ‘intelligent energy’
Bitcoin
Industry cheers as crypto market crosses crucial $1 trillion mark
The total crypto market volume over the last 24 hours was to the tune of $56.97 billion, up by 1.19 percent from the previous day, the CoinMarketCap data showed
Blockchain
The Middle East is critical to the future of crypto
While 2022 was challenging, 2023 is an opportunity for the crypto industry to come of age
Bankruptcy
FTX’s SBF agrees to be extradited to the US after chaotic day at Bahamas court
No date set for the extradition yet; Bankman-Fried’s lawyer says it is a voluntary decision “against legal advice” by the FTX founder
binance
Binance withdrawals reach $3.7bn in a week
Binance net outflows hit $1.9bn in just one day say analysts
Bankruptcy
Sam Bankman-Fried arrested in the Bahamas on US request
The founder of the collapse FTX expected to be extradited soon; SBF was preparing to appear before US Congress
Bankruptcy
Domino effect: BlockFi files for bankruptcy following huge exposure to FTX
The liquidity crisis due to BlockFi’s exposure to FTX via loans to one of its affiliate companies Alameda, as well as cryptocurrencies trapped on FTX’s platform
crypto assets
Crypto insurance firms face massive surge in requests following FTX collapse
Alongside, the crypto market is also witnessing increased inter-segment collaboration, with e-wallet players such as Liminal joining hands with blockchains such as Polygon, Tezos and Avalanche to support them with safe and secure asset custody solutions
Abu Dhabi Global Market
Binance gets financial services permission from Abu Dhabi Global Market
The Financial Services Regulatory Authority approval enables the blockchain giant to provide custody to professional clients
binance
Zhao’s ‘recovery fund’ plan helps cryptocurrencies rise after the FTX disaster
Details not revealed, but the Binance chief tweets his intention of setting an industry recovery fund to “reduce further cascading negative effects of FTX”
binance
Binance agrees to buy its troubled rival FTX to avoid major crypto meltdown
The move follows $6 billion in withdrawals by spooked investors over the past 72 hours, triggered by Binance liquidating FTX’s in-house token FTT on Sunday
crypto assets
Crypto trading app OKX secures Dubai licence
The company hopes to participate in the UAE’s growing crypto ecosystem
binance
Binance is partnerning with TikTok’s most-followed star to help ‘increase Web3 awareness and adoption’
Binance is hoping his style could tackle “some of the misconceptions around Web3”
Bitcoin
UAE’s BitOasis fires nine employees amid global crypto downturn
The move happens on the back of extreme volatility in the crypto market where major digital coins, including Bitcoin, were hit by a shop drop in valuation
blockchain technology
Is there light at the end of the crypto tunnel? Early musings after the market meltdown
The cryptocurrency pool will consolidate, with many digital coins disappearing, an expert told Arabian Business