FDIC Orders OKCoin to Correct Misleading Insurance Claims
The US Federal Deposit Insurance Corp. (FDIC) has issued a cease and desist notice to the crypto exchange OKCoin for providing false information about its insurance status. The FDIC accuses OKCoin and its senior officials of misleading statements regarding FDIC insurance in a letter dated June 15. Regulators have granted OKCoin a deadline of 15 […]
Binance to leave Netherlands after failing to acquire VASP license
Binance is leaving the Netherlands because it failed to obtain a virtual asset service provider (VASP) license. The company has informed its Dutch customers about this decision. Starting July 17, existing customers can only withdraw funds from the platform. Trading, deposits, and purchases will no longer be possible. Binance expressed disappointment about the situation but […]
Abra Accused in Texas of Securities Fraud, Misleading Investors
The Texas State Securities Board (TSSB) has taken legal action against Abra and its CEO, William John “Bill” Barhydt. Investors of Abra Earn and Abra Boost have accused the defendants of fraudulent business practices and securities fraud. According to the TSSB, the defendants intentionally withheld crucial financial information, such as party capitalization, loan defaults, and […]
Floating Point Group Halts Services, Following $20M Hack
Floating Point Group (FPG) has banned fund deposits and withdrawals on its platform due to a security compromise. Floating Point Group (FPG), a brokerage firm for digital assets in Southeast Asia and Asia Pacific (APAC), has stopped fund deposits and withdrawals on its platform due to a security breach. The company states that a sum […]
Coinbase Partners with Block’s Self-custody Wallet Bitkey
Coinbase has partnered with Bitkey to make it easier for customers to purchase Bitcoin while having control over their private keys. Bitkey, a bitcoin wallet service introduced by Jack Dorsey’s Block, has collaborated with the crypto exchange to enable users to buy, sell, and transfer bitcoin through their mobile app or hardware wallet using Coinbase […]