Day: May 23, 2023

Crypto Investor Justin Sun Moves $4.3M of MakerDAO’s MKR to Crypto Exchange Binance

CryptoX – Cryptocurrency Analysis and News Portal The spot market of MKR is thin and illiquid, meaning that a large sell order can significantly move the token price. A sell order for 525 MKR on the MKR/USDT pair on Binance, the most liquid market for the token, may cause a 2% price decline, according to Cryptowatch data. Source The post Crypto Investor Justin Sun Moves $4.3M of MakerDAO’s MKR to Crypto Exchange Binance appeared first on CryptoX. CryptoX Portal

Crypto ATMs provider settles with Connecticut Banking recovering $86k for customers 

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Bitcoin of America has agreed to a settlement deal with the Department of Banking to refund the four customers who lost tens of thousands through the crypto kiosks.  In a recent statement from the Banking Commissioner in Connecticut, Jorge Perez, Bitcoin of America reached a deal with the Department of Banking. The current agreement came after several customers complained of losing money in scams facilitated by the virtual currency kiosks owned by Bitcoin of America. Based…

Reliance JioMart Cuts 1,000 Workers as Part of Broader Sustained Layoff Agenda

Indian retail giant Reliance JioMart has begun its layoff plan, which is expected to last several weeks and impact 10,000 employees.  Reliance Retail’s versatile online shopping platform JioMart recently began a mass layoff, which could affect up to 10,000 workers. This week reports state that JioMart had already laid off 1,000 employees, with another 9,000 more job cuts to follow in the coming weeks. The Indian retail giant opted for this mass downsizing to better its margins amid a contracting economy. JioMart also plans to shut down more than 50% of…

Hong Kong to Permit Licensed Crypto Exchanges to Offer Services to Retail Investors

Hong Kong will open crypto trading activities to retail investors starting June 1, 2023. Hong Kong’s Securities and Futures Commission (SFC) has released the results of its consultation paper on regulating crypto assets in the country. In an announcement on May 23, 2023, the financial watchdog said it received 152 submissions from key players in the industry, professional associations, and consultancy firms, greenlighting its proposal to allow licensed crypto exchanges to serve retail investors in the nation. The new development enables digital asset service providers (DASP) that demonstrate compliance with…

Bitcoin miner netflows hit monthly lows amid recovery campaign

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The bitcoin (BTC) miner netflows volume has plummeted to -$75,270, marking the lowest point in the past month. This decrease suggests miners are refraining from selling their BTC, demonstrating their belief in an impending bitcoin recovery as the broader crypto market slips into the green territory. The development was highlighted by behavior analytics resource Santiment in a recent tweet. Data from the Santiment chart shows that miner outflows remained relatively stable following a massive decline observed…

IOSCO Introduces Global Policy Recommendation to Guide Crypto and Digital Assets Industry

Several jurisdictions have made outstanding efforts to release standard crypto regulations to safeguard citizens and their assets. World securities and future market regulator, the International Organization of Securities Commissions (IOSCO) has introduced a global approach to regulating the crypto market and digital assets. According to the statement made to the press, the proposed recommendation is largely directed toward addressing concerns related to investor protection and market integrity in the digital currency ecosystem. IOSCO Crypto Regulation Modalities Also, a consultation period for the policy recommendation has been opened for public comments…