Bybit suspends USD bank transfers amid service outages
Dubai-based crypto exchange Bybit has temporarily suspended USD deposits via bank transfers due to "service outages from a partner." Users can still withdraw funds through wire transfers until March 10, but are encouraged to do so as soon as possible to avoid potential disruptions. Bybit has exposure to the bankrupt crypto lender Genesis Global Trading and claims all client funds are safe and secure.
Binance CEO Responds to Forbes Article on Fund Shuffling
Binance CEO Changpeng Zhao responded to a Forbes article that focused on the movement of funds by the cryptocurrency exchange. The article drew parallels between Binance and the now-defunct FTX and discussed the failed Voyager bid by Binance.US, as well as the United States Securities and Exchange Commission’s planned legal action against Paxos Trust Company, the issuer of the Binance-branded stablecoin, Binance USD (BUSD). Binance transferred $1.8 billion in stablecoin collateral to hedge funds such as Tron, Amber Group and Alameda Research between August and December 2022. Binance says it still supports BUSD and is now looking into non-USD stablecoins.
bitFlyer Co-Founder Seeks to Reinstate as CEO
Yuzo Kano, co-founder of cryptocurrency exchange bitFlyer, plans to reintroduce himself as CEO at a shareholders meeting next month. Kano wants to revitalize the company by introducing stablecoins, token-issuance operations, and an IPO, while also opening up the company's blockchain. He claims bitFlyer has become stagnant since his resignation in 2019, and aims to put Japan back on the map in the world of cryptocurrency.
Indonesia's State-Backed Crypto Exchange: An Analysis
Indonesia's state-backed crypto exchange aims to promote transparency, accountability, and investor protection. It is expected to boost crypto adoption.
Indonesia to Launch State-Backed Crypto Exchange by Mid-2023
Indonesia plans to launch a state-backed crypto exchange by mid-2023 to promote a more secure and transparent market, with greater regulatory oversight and investor protection.
FTX Japan users withdraw funds amid litigation
Due to the large number of FTX-SBF victims, payment is projected to take time.
Gate.io to Launch Crypto Exchange in Hong Kong Following Government's $6.4M Investment in Web3
Hong Kong's current budget allocates millions to the Web3 and crypto industries to "keep up with the times," allowing Gate.io to establish a local presence.
New York Attorney General Letitia James Sues CoinEx
CoinEx was sued by New York Attorney General Letitia James for selling bitcoin without registering.
Binance.US Could Be in Violation of Securities Law
SEC opposes Binance. US acquisition of nearly $1 billion in Voyager Digital assets.
Revenue for United States-based Coinbase Exchange Beats Expectations for 4th quarter
Coinbase exceeded Wall Street profit projections in Q4 2022 despite a drop in exchange transaction volumes.