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Binance recommends P2P as Ukraine suspends use of hryvnia

Ukraine temporarily suspended the use of its national currency, the hryvnia, via banking cards for fiat deposits and withdrawals on crypto exchanges.

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Ukraine temporarily suspended the use of its national currency, the hryvnia, via banking cards for fiat deposits and withdrawals on crypto exchanges.

While the move immediately impacted how investors move funds to and from exchanges, Binance reminded users about how peer-to-peer services come in handy when trading cryptocurrencies.

Following the temporary suspension from Ukraine’s central bank, crypto exchanges like Binance and Kuna made official announcements informing investors about the inconvenience. Michael Chobanian, the founder of local crypto exchange Kuna, acknowledged the service disruption. However, he said he would explain the nuances of the development later.

Chobanian further pointed out how such regulatory decisions have no impact on the Bitcoin ecosystem. Binance acknowledged the problem as regulators suspended the use of hryvnia on crypto exchanges.

The crypto exchange utilized the occasion to inform users that P2P services allow users to exchange crypto and fiat currencies directly with other users without needing a middle-person like banks.

Ukraine’s anti-crypto stance comes as a shock considering the country netted over $70 million in crypto donations since the start of the Russian-Ukrainian conflict.

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Hong Kong introduces crypto staking rules, reaffirms Web3 commitment

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Hong Kong’s Securities and Futures Commission (SFC) has introduced new guidelines for crypto staking services, signaling the region’s continued commitment to fostering a regulated and innovation-friendly Web3 ecosystem.

The new rules clarify how virtual asset trading platforms can offer staking products, emphasizing investor protection, risk disclosures, and operational transparency. Licensed platforms will be required to clearly separate client and company assets, provide detailed staking mechanisms, and maintain robust custody arrangements.

The SFC’s move comes as part of its broader strategy to establish Hong Kong as a leading digital asset hub while ensuring regulatory clarity. Officials reiterated that the city remains focused on promoting Web3 development through structured oversight and openness to innovation.

The staking framework aims to strike a balance between encouraging market growth and protecting investors from potential risks tied to volatile or opaque staking schemes. Industry participants have welcomed the clarity, viewing it as a positive step toward legitimizing crypto services in the region.

As global jurisdictions wrestle with how to regulate staking and other decentralized finance (DeFi) offerings, Hong Kong continues to position itself as a model for responsible crypto advancement.

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Nearly 400,000 FTX users risk losing $2.5 billion in repayments

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Thousands of FTX creditors risk forfeiting a collective $2.5 billion in claims after failing to meet a key Know Your Customer (KYC) deadline required for participation in the collapsed exchange’s bankruptcy recovery process.

The deadline, which required creditors to verify their identities through FTX’s designated platform, was part of court-approved procedures aimed at ensuring compliance and streamlining the payout process. Those who missed the cutoff may now be excluded from receiving distributions, despite having filed valid claims.

FTX’s restructuring team had issued multiple reminders ahead of the deadline, warning that failure to complete KYC could result in disqualification. The platform’s terms of distribution emphasize regulatory obligations and the need to confirm user identities before funds can be released.

With creditor payouts expected to begin later this year, the exclusion of non-compliant claimants could significantly impact the final distribution pool. Legal experts note that while there may be limited recourse for those who missed the deadline, further legal action or appeals could still arise.

The development marks another dramatic twist in the FTX bankruptcy saga, highlighting the complexities of asset recovery in one of crypto’s largest corporate collapses.

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Memecoin platform Pump.fun brings livestream feature back to 5% of users

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Memecoin platform Pump.fun has reinstated its popular livestream feature, allowing users to once again track real-time token launches and market activity across the Solana-based ecosystem. The move comes as retail interest in memecoins continues to surge, with the platform playing a central role in driving viral token creation.

The livestream had previously been disabled due to overwhelming traffic and infrastructure constraints. Its return reflects both improved backend capacity and a response to user demand for more interactive, real-time insights into the platform’s fast-paced environment.

Pump.fun enables users to launch tokens with minimal technical knowledge, contributing to a flood of micro-cap coins and community-driven speculation. The livestream gives users a dynamic view of new listings, price action, and trending tokens as they emerge.

As memecoin trading grows more competitive — and increasingly chaotic — Pump.fun’s decision to bring back the feature reinforces its position as a hub for the next generation of decentralized, meme-fueled market experiments.

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