Bitcoin.com Exchange To List HUB Token as the Next Gen Trust-Based Cryptocurrency

PRESS RELEASE. Bitcoin.com Exchange is thrilled to announce the upcoming listing of HUB on the 1st of December 2020 at 14:00 UTC. HUB was created by the Human Trust Protocol Network, under founding member Eric Ly. HUB will be listed with BTC and USDT trading pairs. What is the Human Trust Protocol? Human Trust Protocol solves endemic trust problems, and provides verifiable and portable trust. The vision of the Human Trust Protocol, and that of its HUB token is to encode identity and reputation on the blockchain, to become the…

Bitmex parent 100x appoints German stock exchange exec as new CEO

100x — the holding group for Bitmex’s parent company — has announced the appointment of a permanent new CEO in the wake of charges filed in Octob against the exchange’s co-founders, including former CEO of both 100x and Bitmex, Arthur Hayes. On Dec. 1, 100x announced that the former chief executive officer of German stock exchange Borse Stuttgart GmbH, Alexander Hoptner, will take over as CEO during January 2021. Hoptner will also join 100x’s board of directors, and will report directly to the group’s chairman, David Wong. 100x’s new CEO…

Huobi in Malaysia Launches Regulated Crypto Exchange

The new company is called Huobi Labuan, and its brokerage license provides for an initial nine-month trial period to deliver crypto spot trading and derivatives trading. Huobi Global, the flagship crypto exchange of the Huobi Group headquartered in Singapore, may have had a rocky fall in 2020, at least as FUD and rumors circulated. Today, Nov. 27, with the launch of another, independent platform approved to use the Huobi name, the brand has better news to announce to the community. Huobi Global is the second-ranked crypto spot market by daily…

Quick Bitcoin Price Recovery Looks in Doubt as Whales Move Coins Onto Exchanges

Bitcoin may have a tough time charting a V-shaped recovery to recent highs in the short term, with on-chain activity showing increased selling pressure in the market. Blockchain analytics firm CryptoQuant’s exchange inflow indicator – which measures the 144-block (roughly 24-hour) average of mean bitcoin deposits across major cryptocurrency exchanges – has risen to 2.5 bitcoin, the highest level since March 20. In other words, the average size of inward-bound transactions to trading platforms has risen to eight-month highs. “The data shows whales [large traders] are transferring their coins to…

Exchanges outdo auctions for governments cashing in criminal crypto, says exec

Earlier this week, Lithuania’s tax service, the Lithuanian State Tax Inspectorate, added $7.6 million dollars to the state budget through the sale of cryptocurrencies seized in criminal investigations.  The occasion marked the first time that the Lithuanian government liquidated confiscated cryptocurrencies. In doing so, the country joined the growing number of jurisdictions worldwide that have auctioned off or sold cryptos obtained by the long arm of the law.  However, unlike the United States Federal Marshals, which netted $37 million at auction from confiscated crypto last February, the STI opted to…

Crypto Exchange Upbit Brings in Withdrawal Delay in Bid to Tackle Fraudsters

South Korea-based exchange Upbit has announced a limited cryptocurrency withdrawal delay in an effort to protect user accounts from malicious attacks. Scheduled to take effect on Nov. 28, the new restriction will only allow users to withdraw digital assets equal in value to the total of Korean won (KRW) deposited 24 hours after a withdrawal was requested. The withdrawal delay is only applicable to cash deposits that are exchanged for cryptocurrency. There is no time limit on Korean won (KRW) withdrawals corresponding to KRW deposits. Similarly, users can deposit digital…

Crypto derivatives exchange Bybit launches quarterly Bitcoin futures

Bybit announced Thursday that it will roll out a BTC/USD quarterly futures contract on Nov. 30. Two contracts will be offered at launch — BTCUSD1225, settling on Dec. 25, 2020, and BTCUSD0326, which will be settled on March 26, 2021. Bybit says the new futures contracts have no funding fee, which means traders can hold the position without charge as long as the contracts are still in effect. Like traditional futures contracts, Bitcoin (BTC) futures allow traders to buy and sell the digital currency at a predetermined price at a…

Former Microsoft Engineer Says Nigerian Expatriates Are Using Bitcoin to Circumvent Country’s Overvalued Exchange Rate

A former Microsoft software engineer and co-founder of Buycoins Africa Tomiwa Lasebikan says some Nigerians expatriates are now using bitcoin to circumvent the country’s overvalued exchange rate when sending remittances. According to Lasebikan, the Central Bank of Nigeria (CBN)’s fixed exchange rate of $1:380 is robbing recipients 20-30% of their remittance value each time they retrieve funds. At the time of writing, the parallel exchange rate of one dollar to the Naira is 1:480, according to Abokifx. Similarly, importers that are hamstrung by the country’s rigid foreign exchange regulations, are…