Binance withdrawals surge following Paxos, BUSD issue
Following the New York Department of Financial Services (NYDFS) crackdown on Paxos and stablecoin Binance USD, Binance cryptocurrency exchange has seen an increase in withdrawals over the past 24 hours. The BUSD token has also experienced significant redemptions; according to Peckshield, 342 million BUSD were burned in the previous day. News of potential enforcement action […]
MetaMask issues scam alert following Namecheap hacker emails
Cryptocurrency wallet service MetaMask has issued a warning to its users following Namecheap’s detection of the misuse of one of its third-party services for sending some unauthorized emails to MetaMask users. On the evening of February 12, the web hosting firm Namecheap discovered that one of their third-party services had been abused to send some […]
Huobi exchange announces shutdown of Cloud wallet service
Huobi cryptocurrency exchange has announced the closure of its Huobi Cloud Wallet service, the platform will be discontinued in May 2023. The multi-token wallet service’s maintenance and updates will formally end on February 13 according to a statement on Huobi’s support website. Cryptocurrency and nonfungible tokens (NFTs) users who are still utilizing the Huobi Cloud […]
NYDFS orders Paxos to stop issuing Binance USD
New York Department of Financial Services (NYDFS) has ordered Paxos to stop issuing Binance USD stablecoin (BUSD), one of the world’s largest stablecoin by market cap. The United States Securities and Exchange Commission (SEC), which notifies firms of impending enforcement action, sent Paxos a wells warning not long before the New York regulator took its […]
UAE central bank to launch CBDC for Transactions
As the first phase of its financial infrastructure transformation (FIT) program, the Central Bank of the United Arab Emirates (CBUAE) intends to introduce a central bank digital currency (CBDC) for both local and international usage. The CBUAE recently announced the FIT initiative and emphasized its goal of assisting the nation’s financial services industry. The scheme, […]