Home
Domestic RankingGlobal RankingPopular Brokers RankingAsset RankingScam Broker Ranking
Feedback
Field Survey
Industry NewsMarket QuotesMarket DataRegulatory AuthorityAbout Us
Language
简体中文English繁體中文العربيةDeutschEspañolFilipinoFrançaisहिन्दीBahasa Indonesia日本語한국어PortuguêsРусскийไทยTürkçeاردوTiếng Việt
Scan to Download
Crypto Exchange Regulation Check

Binance pulls out of the proposed takeover of FTX

Because of FTXs improper handling of customer funds, among other factors, Binance on Twitter said the cryptocurrency exchange would cease the purchase plans. 　　The biggest cryptocurrency exchange in the world, Binance, was the initial investor in FTX.　　Binance tweeted: “As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of FTX.com,” 　　　　Before the cancellations, Binance had planned to help the users of the US-based cryptocurrency exchange by offering liquidity. However, the business has said that FTXs problems include “beyond our control or ability to help.”　　Potential for bankruptcy？　　Binance has not given specifics regarding the problems FTX is experiencing. Nevertheless, according to press sources, the crypto exchange may have found a significant discrepancy between FTXs $6 billion worth of liabilities and assets. 　　Additionally, according to Bloomberg, which obtained this data from a source with firsthand knowledge of the situation, FTX CEO Sam Bankman-Fried warned investors that the cryptocurrency exchange would have to declare bankruptcy if it didnt get a capital infusion. 　　　　Bankman-Fried, who was reportedly valued at $26 billion, also told them that his cryptocurrency exchange could run out

2022-11-10Deep Dive

BaFin Asks Coinbase’s Internal Organization for an Improvement

The Federal Financial Supervisory Authority (BaFin) announced on Tuesday that the crypto exchange‘s German branch violates the German Banking Act, i.e.. the sections that require the maintenance of high risk-bearing capacity, the steady operation of emergency management mechanisms, and adequate staffing practices. Deficiencies in Coinbase’s annual crypto finances audit statements have become the reason for BaFin to order Coinbase to provide a “proper business organization” model. Coinbase has officially confirmed that the company will cooperate to its fullest extent on these issues. Additionally, Coinbase claims that it has devised a “remediation plan” that will address all the audit concerns raised by BaFin.　　It also announced that its crypto-based activities would be moved out of the US exchanges and into the international market, including Europe and Singapore, which recently granted the exchange a license to operate. A BaFin license was just granted last year.　　Coinbase is headquartered in California and is one of the largest cryptocurrency exchanges on the global scene. However, recently the exchange has been impacted by the stagnation of the crypto market. The company reportedly lost $1 billion in the second quarter of 2022, and $545 million in the third. Its revenue also dropped to $576 million in the third

2022-11-10Deep Dive

Cardano Chief Speaks About No Imminent Retirement

The entrepreneur, 35, criticized the actions of trolls and the frequent criticism he has recently received on social media. Charles acknowledges that it is annoying when people exaggerate Cardanos progress, but he is unwilling to give up just yet and will continue to fight as long as there is a prize at stake. 　　　　Charles has converted the Ethereum Classic verified Twitter page to the Ergo proof-of-work network. Many in the crypto Twitter community reacted negatively to his seizure of the account that has supported the Ethereum Classic group since 2016 by denouncing it. Many people thought Charles was only a curator of the 600k Twitter handle, which rightfully belonged to the community.　　In addition, after learning of the altercation with Ethereum Classic, the Cardano CEO openly severed connections with the XRP community. Numerous XRP coin backers have targeted the outspoken critic. His tweets claim that these XRP trolls continued to harass him without cause, leading him to block the majority of them even though he claims to be done with it. 　　The action drew criticism from members of the crypto Twitter community, with several pleading with the Cardano CEO not to generalize about the entire XRP community based on the behavior

2022-11-09Deep Dive

The OFAC regulations are causing Ethereum to be almost entirely banned.

The market has already been watching Ethereums rates increase to OFAC regulations in response to the Ethereum framework restriction that creates obstacles to the crypto ecosystems goal of highly open and available financing. Over 73% of the transactions on the Ethereum network in the last 24 hours, according to the current updates, have been found to enforce OFAC compliance. 　　　　Top crypto news outlets issued a report on the escalating censorship issues in October 2022, when it was discovered that 51% of Ethereum blocks had already passed OFAC rules. However, according to mevWatch data, the percentage of daily blocks produced that are compliant with OFAC requirements has climbed to 73% as of November third.　　Some MEV-Boost relays required by OFAC might censor financial activity in the meantime. As a result, the network must install a non-censoring MEV-Boost relay in order to ensure Ethereums impartiality.　　Ethereum examiners can further loosen their compliance with OFAC rules by deleting intermediaries like BloXroute Max Profit, BloxRoute Ethical, Manifold, and Relayooor from their MEV-Boost setup.　　A US government agency imposes sanctions against cryptocurrency retailers　　The US govt agency has the authority to impose trade and economic penalties on crypto outlets based on compliance with OFAC. The agency had already authorized

2022-11-09Deep Dive

Coinbase CEO calls out “risky business practices” in FTX saga, sympathizes with those involved

Coinbase CEO Brian Armstrong took to Twitter on November 8 to express his “sympathy for everyone involved in the current situation with FTX.” When customer assets are at risk, Armstrong understands how “stressful” it can be.　　The Coinbase CEO, on the other hand, made certain that the community understood the distinctions between Coinbase and FTX, stating that Coinbase has no “material exposure” to either FTX or Alameda Research.　　Armstrong asserted unequivocally,　　“This event appears to be the result of risky business practices, such as conflicts of interest between closely related entities and misappropriation of customer funds (lending user assets).”　　In a now-deleted Twitter discussion, FTX CEO Sam Bankman-Fried asserted that customer assets were not at risk. However, following the announcement of a possible Binance takeover, he revealed that FTX had a “backlog” of customer withdrawals that needed to be cleared by Binance.　　Coinbase is registered and publicly traded in the United States, according to Armstrong, “because we believe that transparency and trust are so vital.” Furthermore, because Coinbase is a publicly traded firm, it is compelled to provide financial data in compliance with SEC standards, whereas FTX is not.　　Armstrong also used the opportunity to criticize additional regulation, which SBF had backed while specifying areas where

2022-11-09Deep Dive

Solana will get the Euro Coin and the Cross-Chain Transfer Protocol from Circle starting  2023.

In June, Circle released The Euro Coin, a stablecoin guaranteed by the euro. The Euro Coin is tied to the Euro, as opposed to its equivalent, the USDC coin, which is tied to dollars. The Euro coin is already operational on the Ethereum blockchain, and by the first quarter of 2023, it will also be operational on the Solana blockchain. 　　The introduction of the Euro coin on Solana, in accordance with Sheraz Shere, Head of Payments at Solana Labs, opens up fresh use cases for quick FX, gives dealers layout flexibility with a different base currency, and enables lent and borrowed of the Euro Coin on a blockchain. In Solana Pay, the Euro coin will be an additional payment option to USDC.　　　　When Euro Coin launches on Solana, exchanges like FTX will add functionality for payments, repayments, and trading. In addition, Raydium and Solena, two Solana-based DeFi (Decentralized finance) protocols, have expressed interest in backing the stablecoin when it debuts, according to Circle. 　　In addition to the Euro Coin, Circle will also be deploying its cross-chain transfer mechanism, that was first revealed in September, on the Solana blockchain. The protocol would launch on Ethereum and Avalanche in the first half of

2022-11-08Deep Dive

Outstanding $7M Fundraising by Crypto Exchange Coinmetro

After the funding, the companys value increased by a factor of three, reaching $180 million. The businesss previous valuation was $60 million in the prior year. 　　Coinmetro, based in Estonia and regulated by the EU, was established in 2018. Additionally, the cryptocurrency exchange is legally registered in the US, Canada, and Australia. 　　The business intends to launch a number of passive income products as well as expand operations in the US, UK, and Europe with the help of the additional funding.　　　　Coinmetro CEO Kevin Murcko states, “we have no shortage of ideas and are looking forward to making them real for our growing community over the months and years to come.” Crunchbase reports that the cryptocurrency business has so far generated $18 million in total.　　Early in 2023, the company intends to raise a Series A. 　　The typical check size for a seeding which was before A round even during the third period was $6.5 million. Another cryptocurrency company recently looked to raise money. On November 7, 2022, the New York-based web3 investing company CoinFund revealed that it was trying to raise $250 million just 3 months after its prior fund. CoinFund stated that it intended to use the funding to support

2022-11-08Deep Dive

Bitcoin Could Be Ruined by the CBDC Launch, Says Arthur Hayes

The co-founder of the BitMEX exchange and well-known trader and crypto expert Arthur Hayes has shared his thoughts on what he believes will occur to Bitcoin if most Central Bank Digital Currencies (CBDCs) are eventually introduced.　　In a press statement, Hayes has described the CBDC as “pure evil” as, in his viewpoint, it will give the entire government power to amend laws pertaining to a range of subjects, including the consumption of Bitcoin.　　　　He asserted that the right of people to self-govern fair commerce among themselves is directly violated by CBDCs. The CBDC, he continued, will have an impact on banks because it poses an imminent crisis to their capability to conduct commerce.　　He added that he thinks the voters apathy will allow the government to easily replace fiat money with CBDC, ushering in nightmares of financial surveillance. He did, however, make a suggestion that commercial and domestic banks might act strangely as a collaborator to prevent the federal government from implementing the greatest CBDC design for stifling the public　　Hayes further emphasized that the government is attempting to combat economic inflation by using CBDC. However, he asserts that doing so might harm the blockchain sector, which would harm the general public. He only

2022-11-07Deep Dive

Whole FTT Shares Are Sold by Binance

CZ has only stated “new findings which have come to light” as the basis for selling FTT, the native token of the competing FTX exchange.　　“As part of Binances exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have come to light, we have decided to liquidate any remaining FTT on our books. 1/4” 　　The CEO of Alameda tweeted in reaction to CZs most recent action that her selling companys financial situation is stronger. In her reply to the post made by the CEO of Binance, she also made a repurchase offer.　　“@cz_binance if youre looking to minimize the market impact on your FTT sales, Alameda will happily buy it all from you today at $22!”　　Weeks following condemnation of FTXs creator and CEO Sam Bankman-Fried for his regulation ideas, Binance made this decision. 　　　　On October 19, Bankman-Fried released a proposal that has since come under fire. It is a thorough route map for regulating monitoring and business norms in the area of digital assets. 　　Critics claim that Bankman-plan Frieds to establish technical standards endangers both the fundamental principles of DeFi and the leading DeFi teams and platforms in

2022-11-07Deep Dive

NITDA to train 30,000 Nigerians on Blockchain Technology

By: Damian Okonkwo 　　In furtherance of the quest to promote the adoption of Blockchain technology in Nigeria, the National Information Technology Development Agency (NITDA) has disclosed they will be offering a full scholarship package to selected citizens on the use of Blockchain technology today. This will be carried out in partnership with Domineum Blockchain Scheme.　　The current decision taken by NITDA seems to align with the intention of the CBN in carrying out mass literacy programs and workshops across the state designed to sensitize the masses on the use of the eNaira across the country.　　According to NITDA, the scholarship has been designed to run across the 36 states of Nigeria and will be carried out through online and physical training.　　The deadline for applying for the scholarship program has been given as 28th November, 2022. While the program itself will commence on 1st December 2022. Interested applicants should visit their website to apply for the program.　　The Director-General of NITDA - Mr. Kashifu Inuwa Abdullahhas had stated his conviction that great potentials rests in the use of Blockchain technology and Robotics, and when harnessed will positively transform the Nigerian economy today.　　He, therefore, pledged the unwavering determination of NITDA to champion the course of

2022-11-07Deep Dive
1
...
182184
...
738

Crypto Exchange Regulation Check

Select Country/Region

You are visiting the WikiBit website. WikiBit and its mobile app are a tool for users worldwide to check exchange compliance information. Users are advised to comply with the relevant laws and regulations of their country or region when using WikiBit products.

Official Email: contact@wikibit.com；

For corrections regarding license and other information, please send to: qa@wikibit.com；

Cooperation: contact@wikibit.com

WhatsApp: 852 44962638

Telegram: https://t.me/wikibitofficialgroup

Company: COOLBIT CO., LIMITED

※ You are visiting the WikiBit website. WikiBit and its mobile app are a tool for users worldwide to check exchange compliance information. Users are advised to comply with the relevant laws and regulations of their country or region when using WikiBit products.