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It was another busy week at CoinDesk as the new Trump Administration continued to roll out a pro-crypto agenda and the industry laid the groundwork for growth in the new cycle. Ripple was at the center of the news. Ondo Finance announced it would offer tokenized treasuries on Ripple’s XRP Ledger, Kr…
Update (01.31.25 at 19:45:03 UTC) This article has been updated to change the adjusted EBITDA figure to $380 million as opposed to $330 millionKraken, a centralized crypto exchange, released its 2024 financials showing $1.5 billion in revenue for the year — representing a 128% year-over-year gain co…
LayerZero Labs has reached a settlement agreement with the FTX bankruptcy estate after two years of legal dispute, the company’s co-founder and CEO Bryan Pellegrino said today on social media platform X.“Ultimately we decided this was not us vs FTX which is a fight we feel completely justified in, b…
Solana-based decentralized exchange Mango Markets will wind down its operations on Monday in the wake of an SEC settlement that required Mango's governance DAO and development organization to destroy their MNGO tokens and delist them from all exchanges. "Mango v4 & Boost are winding down," the proto…
The FTX bankruptcy estate has disputed the recently announced sale of FTX EU to Backpack, the cryptocurrency exchange and wallet firm founded by former FTX and Alameda employees.The FTX estate said Backpack “has no involvement whatsoever in the U.S. Bankruptcy Court-approved process for returning fu…
Backpack Exchange responded to FTX's claims hours after the bankrupt exchange called the acquisition of its Cyprus entity unauthorised. The latest press release from Backpack emphasised that it has already purchased FTX EU from former insiders, with the transaction “completed and reflected on offici…
Remember FTX? The European branch of the once-popular cryptocurrency exchange that became the center of a major scandal in 2022 has just been acquired. Backpack has become the new owner of FTX EU.Although Backpack currently ranks only 200th in CoinMarketCap's cryptocurrency exchange rankings by dail…
FTX EU — the European arm of the crypto exchange that infamously collapsed in late 2022 — has been acquired by Backpack Exchange following approval by the FTX bankruptcy court and the Cyprus Securities and Exchange Commission.Backpack Exchange will take responsibility for distributing the previously…
Prosecutors with the United States government overseeing Do Kwon’s criminal case have estimated that the Terraform Labs’ co-founder could potentially have more than one million victims across the world after the collapse of the ecosystem.In a Jan. 6 filing in the US District Court for the Southern D…
Data researcher Ben Lilly says the crypto market may face significant turbulence this year, particularly for Solana . He predicts a “Grayscale Effect” that could put pressure on SOL prices.The term refers to the potential impact of scheduled share unlocks from the Grayscale Solana Trust, which is se…
Update (Jan. 3, 2:20 am UTC): This article has been updated to reflect that Stuart Hoegner’s retirement is a separate event from the implementation of MiCA and added additional related news relating to Tether. Stuart Hoegner, General Counsel of Tether and Bitfinex, has retired from his role as the l…
Cryptocurrency exchange Binance has racked up over $24 billion in inflows from user deposits in 2024, according to data from DefiLlama.In a blog where Binance said its inflows were higher than 10 exchanges combined, Binance said the “growth aligns with a surge in global adoption of digital assets” —…