The cryptocurrency market has taken a turn for the worse, with prices reversing course and trading lower. While Bitcoin remains above the $28,000 level, Ether has fallen below $1,800, and XRP remains flat. However, the surge in trading volumes of XRP on South Korea’s leading crypto exchanges has raised speculation over its potential classification as a commodity by the US Commodity Futures Trading Commission (CFTC). XRP’s increased trading activity comes amidst the ongoing legal battle…
In recent news, OKX, the second-largest cryptocurrency exchange by trading volume, has announced that it will turn over $157 million in frozen assets tied to FTX and Alameda to debtors. The decision was made in response to a motion filed during the FTX bankruptcy proceedings. The move marks a significant step forward in the FTX bankruptcy case and brings hope to users who have been waiting to have their assets returned. It also demonstrates the…
Sam Bateman Freed, the former crypto executive involved in the collapse of FTX and its sister hedge fund, Alameda, has pleaded not guilty to five new charges in New York federal court. The charges, which include bank fraud, money laundering, making unlawful political contributions, and bribing a foreign government, are in addition to the accusations already leveled against Freed. According to the U.S attorney’s office for the southern district of New York, Freed is accused…
The Securities and Exchange Commission (SEC) has issued a subpoena to SushiSwap, a popular decentralized finance (DeFi) exchange, and its CEO Jared Grey as part of its ongoing regulatory crackdown on the crypto industry. The SEC is investigating whether SushiSwap and Grey violated securities laws and misled investors about the platform’s operations and profitability. SushiSwap is a decentralized exchange that enables users to trade cryptocurrencies without the need for a central authority. The platform has…
Former Terra CEO Do Kwon, who was indicted by a federal grand jury in the United States for alleged fraud and money laundering, will face trial in Montenegro for traveling on a fake passport. According to Kwon’s lawyer in the Balkan nation, his client denies any wrongdoing and is eager to clear his name in court. However, the fugitive crypto entrepreneur may have to serve time in prison in Montenegro before he is extradited to…
Binance, one of the world’s largest cryptocurrency exchanges, has announced its support for the upcoming Shapella upgrade on the Ethereum (ETH) network. This upgrade is scheduled to take place at epoch 194,048, estimated to occur on April 12th, 2023, at 22:27 (UTC). Binance will handle all technical requirements for users holding ETH, OP, ARB, and ERC-20 tokens in their accounts. However, deposits and withdrawals for these tokens via the Ethereum, Optimism, and Arbitrum networks will…
