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Authorities in Kazakhstan have busted an illegal crypto trading platform, seizing over $350,000. The exchange allegedly processed almost $34 million in transactions through wallets on Binance, two of which have been blocked during the ongoing investigation. Digital Asset Exchange Making Millions in Turnover Closed Down in Kazakhstan A platform illegally trading cryptocurrencies
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Crypto hedge fund Galois Capital is shutting down after losing about half of its assets to the FTX disaster. “Given the severity of the FTX situation, we do not think it is tenable to continue operating the fund both financially and culturally,” the fund’s co-founder told investors. Crypto Hedge Fund Shuts
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Galois co-founder said the fund has halted all trading as it is no longer viable post-FTX. Source
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Staking is the consensus mechanism to validate transactions for proof-of-stake blockchains, including Ethereum, which also offers a way for investors to earn yield on their digital asset holdings. However, the SEC has been vocal about its concerns that staking services are the equivalent of unregistered securities according to present regulations. Original
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Localbitcoins, the Helsinki, Finland-based bitcoin exchange founded in 2012, is closing operations after over a decade of service. The company’s operators attribute the shutdown to the “ongoing crypto-winter,” which has left them unable to continue offering their bitcoin trading services. The Challenges Faced by Localbitcoins and its Ultimate Demise in the
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Cryptocurrency exchange Kraken has reportedly closed its office in Abu Dhabi less than 12 months after receiving regulatory approval to operate in the region.According to a Feb. 2 report from Bloomberg, Kraken shut down its Abu Dhabi office, laying off roughly eight people on the team focused on the Middle
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Solana decentralized finance (DeFi) protocol Everlend Finance is closing down its operations and urging clients to withdraw funds from the platform.The company announced the decision on Twitter on Feb. 1, saying that despite having “enough runway” to continue operating, it would be a gamble under current market conditions. In particular,
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A major validator for the privacy smart contract layer-1 blockchain Secret Network has announced that it will no longer provide nodes and support for the network.On Jan. 29, major validator Smart Stake announced that it would shut down its Secret Network validator nodes on Feb. 21.Smart Stake cited “complex/stressful validator
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Solana decentralized finance (DeFi) platform Friktion is shutting down its user interface and urging customers to withdraw their assets from the protocol, according to a statement on Jan. 26. The project's website will no longer deliver the same services, operating in withdrawal-only mode for all Volts and making deposits unavailable. Friktion's
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