Kuna Shuts Down Amid Ukraine’s Ban on Its Oldest Crypto Exchange
Ukraine's oldest cryptocurrency exchange, Kuna, has ceased operations following a government-imposed ban. According to crypto.news, the platform was blocked by Ukrainian authorities without prior notice or explanation. Michael Chobanian, founder and CEO of Kuna, revealed that he learned about the restriction through user reports rather than official communication.
The State Service of Special Communications and Information Protection issued an order directing internet providers in Ukraine to block access to Kuna's domain based on a court decision from Kyiv’s Shevchenkivskyi District Court. The move is reportedly linked to allegations of tax evasion amounting to 50 million hryvnia (approximately $1.3 million). Despite these challenges, Chobanian assured users that funds could still be withdrawn within two months as most infrastructure remains hosted outside Ukraine.
Coinbase Stock: A Promising Investment Opportunity?
The Motley Fool highlights Coinbase Global's recent stock performance amidst fluctuating market conditions for cryptocurrencies like Bitcoin and Ethereum. Over the past year, Coinbase shares have more than doubled due to declining interest rates and growing institutional adoption of digital assets such as Bitcoin ETFs.
While analysts predict revenue growth reaching $5.9 billion in 2024—a significant recovery after years marked by "crypto winter"—the company faces ongoing volatility tied closely with broader market trends. With its enterprise value at $65.4 billion and adjusted EBITDA expected to surge nearly 200% next year, investors are weighing whether now is the time to buy into this capital-intensive business model or focus directly on leading cryptocurrencies instead.
Robinhood Ventures Into Bitcoin and Ether Futures
Sabrina Toppa from TheStreet reports Robinhood's latest strategic expansion into bitcoin and ether futures trading via a partnership with CME Group. This marks another step forward for Robinhood following its acquisition of Bitstamp last year for approximately $200 million—a move aimed at bolstering regulatory compliance globally while competing against major players like Binance.
This development comes amid continued scrutiny from U.S regulators; earlier this month saw penalties totaling $45 million imposed over cybersecurity lapses. Agencies such as California’s Department of Justice have also cited the company for customer fund withdrawal limitations during previous investigation periods. Robinhood’s move into futures could solidify its position as a credible platform in the highly competitive cryptocurrency trading market.
$150 Million Lost Through Social Engineering Scams Targeting Coinbase Users
A report by BeInCrypto reveals alarming security concerns surrounding social engineering scams targeting Coinbase customers. Estimated losses exceeded $150 million annually, as uncovered by blockchain investigator ZachXBT's findings shared publicly online. These fraudulent schemes exploit vulnerabilities in centralized exchanges' frameworks, which often lack adequate safeguards for protecting sensitive customer data and credentials.
Such breaches have far-reaching implications and could undermine trust in the ecosystem's integrity. The future of crypto exchanges depends on addressing systemic issues, proactively mitigating risks, and implementing robust defenses to safeguard users’ interests. Ensuring secure and transparent operations will be essential to rebuild confidence in the industry moving forward.
Sources:
- Kuna shuts down following Ukraine’s ban on its oldest crypto exchange
- Coinbase Global Stock: Buy, Sell, or Hold?
- Robinhood to push into bitcoin and ether futures
- ZachXBT Reveals Coinbase Users Lost $150 million in Social Engineering Scams
- Kraken to Delist USDT, Four Other Stablecoins for European Users
- Thinking of investing in crypto? Expert weighs in on potential benefits, risks
