Day: March 27, 2019

Most Crypto Exchanges Still Don’t Have Clear KYC Policies: Report

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The cryptocurrency exchange industry may be far less orthodox than it appears. As revealed exclusively to CoinDesk, a global study of 216 exchange platforms by the regtech startup Coinfirm found 69 percent of exchanges did not have “complete and transparent” know-your-customer (KYC) procedures. The study also found that only 26 percent of exchanges had a “high” level of anti-money laundering (AML) procedures, such as ongoing transaction monitoring and in-house compliance staff with experience in AML processes. While some people may seem anonymity as a feature of the cryptocurrency market, not…

Most Crypto Exchanges Still Don’t Have Clear KYC Policies: Report

boss

The cryptocurrency exchange industry may be far less orthodox than it appears. As revealed exclusively to CoinDesk, a global study of 216 exchange platforms by the regtech startup Coinfirm found 69 percent of exchanges did not have “complete and transparent” know-your-customer (KYC) procedures. The study also found that only 26 percent of exchanges had a “high” level of anti-money laundering (AML) procedures, such as ongoing transaction monitoring and in-house compliance staff with experience in AML processes. While some people may seem anonymity as a feature of the cryptocurrency market, not…

Huobi’s US Arm Launches Institutional Group for OTC Crypto Trading

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The U.S. branch of the Huobi Global crypto trading marketplace is courting big-money investors with the introduction of a new institutional team. Announced today, the new group at HBUS will be headed up by Katelyn Mew, a veteran of asset management powerhouse BlackRock and discount brokerage Charles Schwab, and Oren Blonstein, who comes from fintech provider Tora Trading Services. “We set up a new institutional sales and customer service group just to have some focus and resources on this segment of the market where we see a lot of the…

Huobi’s US Arm Launches Institutional Group for OTC Crypto Trading

boss

The U.S. branch of the Huobi Global crypto trading marketplace is courting big-money investors with the introduction of a new institutional team. Announced today, the new group at HBUS will be headed up by Katelyn Mew, a veteran of asset management powerhouse BlackRock and discount brokerage Charles Schwab, and Oren Blonstein, who comes from fintech provider Tora Trading Services. “We set up a new institutional sales and customer service group just to have some focus and resources on this segment of the market where we see a lot of the…

Coinbase to Give Away Over $100 Million in XLM to Users Who Study Stellar Protocol

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United States cryptocurrency exchange Coinbase has announced that it is giving away 1 billion Stellar Lumens (XLM) (about $106 million) to users that are willing to study the Stellar protocol. The news was revealed in a Coinbase blog post published on Tuesday, March 26. The move is part of Coinbase Earn, the exchange’s crypto-focused educational program. The company stated that this particular session of the program is its “biggest yet.” Each eligible U.S. user can gain up to $50 for using the program to study the Stellar protocol. According to…

EOS Price Leaps 11.68% in a Day to Hit Market Value of $3.7 Billion

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EOS is surging ahead of other top cryptocurrencies this Wednesday. The EOS protocol’s native token established a fresh session high at $4.11, up 11.68-percent from today’s open. In contrast, Bitcoin, Ethereum, XRP, and other top coins managed gains between 2- and 7-percent, barring Cardano’s ADA, which surged up to 10-percent. As of 1000 UTC, the EOS-to-dollar rate was 4.08, 0.73-percent down from the session high. The slip came as a part of an organic downside correction. EOS resumed its rally after finding support near $4.04. EOS PRICE SURGES UP TO…

Is This Where Industry Really Grows?

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Crypto, much like every other modern industry, is as competitive as a grade eight soccer championship. Case in point, much of this industry is based off which project is best. Bitcoin or Ethereum, Dash or Decred, and so on and so forth. Messari, a New York-headquartered market data provider/analyst group, continued this long-standing theme on Tuesday, with its chief executive punching up in a scathing newsletter. Messari Targets Fellow Crypto Data Providers Over recent days, there’s been a hubbub of discussion about the legitimacy of what data services feed investors.…

Coincheck Owner Monex Group Announces Major Management Changes

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The Japanese broker that acquired the hacked cryptocurrency exchange Coincheck in April 2018 has announced major changes in its management structure. The news was revealed in a press release published on March 27. The current representative executive officer and president of Monex group, Oki Matsumoto, will now also be the representative director and chairman of Monex, as well as chairman of Coincheck. Per the announcement, within Monex, “diverse employees will be aggressively promoted to managerial positions.” The press release also reveals that three Coincheck executive directors will also serve as…

Swiss Mortgage Bank Hypi Lenzburg Partners With Crypto Asset Manager TokenSuisse

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Swiss mortgage bank Hypothekarbank (“Hypi”) Lenzburg has partnered with Swiss crypto asset manager TokenSuisse to expand the bank’s service offerings for crypto and blockchain firms. The development was announced on the bank’s official Twitter on March 25. Hypi Lenzburg is headed by CEO Marianne Wildi, reportedly a former programmer, who first launched the bank’s lending services support for crypto and blockchain firms in June of last year — a notable move in a national context where banking support for the emerging industry is a fraught issue. TokenSuisse AG is a…

Pantera Capital Nears $175 Million Target for Third Venture Fund

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Cryptocurrency hedge fund Pantera Capital is close to completing funding for its third venture fund, already raising $160 million, the company announced in a blog post оn March 27. Pantera, which debuted its first fund in 2013, has since risen to become a conspicuous player in the crypto startup industry. Its latest project, dubbed Venture Fund III, has a fundraising target of $175 million. “We project making a total of 35 investments, with an average deal size of $3.5 million, and an 11% target average equity stake,” the blog post…