Day: November 25, 2022

South Korean Crypto Exchanges Delist WEMIX — Token Price Plunges by Nearly 70% – Exchanges Bitcoin News

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The Digital Asset Exchange Joint Consultative Body (DAXA), the South Korean association of crypto exchanges, announced on Nov. 24 that the WEMIX token would be delisted. In justifying the decision to delist WEMIX, the association claimed the information provided by the token’s issuer Wemade is false and has confused investors. Discrepancy Between WEMIX Circulating Supply and Token Distribution Plan An association of South Korean cryptocurrency exchanges, the Digital Asset Exchange Joint Consultative Body (DAXA), announced on Nov. 24 that the gaming platform Wemade’s token — WEMIX — would be delisted.…

Litecoin Must Maintain $77 Level To Sustain Energy In December

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Litecoin (LTC) is currently experiencing a sharp price correction, going down by more than 4% during the last hour, according to latest tracking from Coingecko. At the time of this writing, the crypto asset is trading at $75.94 after hovering around the $78 region for most of the day. With its recent price dump, the altcoin trimmed its seven-day gains to 20% from a high of 33% this week. Still, LTC’s current performance is impressive as it managed to go up by 33.5% over the last 30 days. Litecoin caught…

Crypto lender Matrixport seeks $100M funding despite lending crisis

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Matrixport, the cryptocurrency firm founded by Bitmain co-founder Wu Jihan, is in the process of raising $100 million in funding despite the ongoing crypto market crisis. Lead investors have already committed $50 million for Matrixport’s new funding round at a $1.5 billion valuation, Bloomberg reported on Nov. 25. The deal has yet to be finalized as Matrixport is still looking for investors for the other half of the round. We’re excited and look forward to engaging with participants, on similar terms, in the other half of the #funding round. Appreciate…

How does the FTX collapse affect Dubai’s crypto ecosystem?

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With the FTX contagion affecting various sectors of the global crypto ecosystem, Dubai-based industry leaders commented on how the debacle will affect the budding crypto hub within the United Arab Emirates (UAE).  From stricter regulations to better projects leading the way, various professionals gave their perspectives on how Dubai and the UAE’s crypto landscape will be affected by the collapse of the FTX exchange. Kokila Alagh, the founder and CEO of KARM Legal Consultants, believes that the FTX collapse will lead to more scrutiny and diligence before projects are approved…

Luno Africa Says Customers and Operations Not Affected by Turmoil at Genesis Capital – Exchanges Bitcoin News

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Just days after reassuring concerned customers, Marius Reitz, the general manager of crypto exchange Luno Africa, recently reiterated the company has not been impacted by Genesis Capital’s decision to pause withdrawals. He added Luno customers still have access to funds in the savings wallet despite its lending partner’s decision to freeze withdrawals. Customers Retain Access to Funds in the Savings Wallet According to Marius Reitz, general manager of the crypto exchange Luno Africa, his company is operating normally and has not been affected by Genesis Capital’s suspension of “redemptions and…

5A Crypto Exchange Announces $5M Fund to Support Global Users

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5A crypto exchange has established a 5 million USDT fund to support global users”during this challenging period in the crypto industry,” the company said Monday. Earlier this month crypto exchange FTX filed for bankruptcy, triggering a domino effect across the already-troubled industry, prompting other firms to warn of worsening liquidity crunches. Therefore, 5A crypto exchange is trying to turn the industry tumult of the past few weeks into an opportunity. The crypto market has lost two-thirds of its value in a year and has been roiled by the collapse of…