Category: Exchanges

Bitcoin ETF Application Based on 5% of Reported Trading

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Bitwise Asset Management, a San Francisco crypto investment firm, has applied to the SEC for a Bitcoin ETF. In preparation for their application, they conducted a study of 80 exchanges, mostly unregulated. Their findings are worse than most: they found that almost 95% of all unregulated exchanges report fake volume. As such, their ETF will be based only on the 5% that is legitimate. Bitwise’s findings are worse than most reports to date. Earlier this week, we reported on findings by the TIE, which found that around 75% of all…

Bain-Backed Crypto Exchange Seed CX Is Expanding to Asia

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Chicago-based cryptocurrency exchange Seed CX, which Bain Capital backed last year, is expanding to Asia. The institution-focused exchange announced Thursday that it has teamed up with Singapore-based trading infrastructure technology provider Hydra X for the effort. The partnership will allow Seed CX to integrate its platform with Hydra X’s trading platform Sigma, which is currently in beta. Once the integration is complete, Seed CX users will be able to view prices, trade and monitor their portfolios on the Sigma platform, as well as have access to a fiat-cryptocurrency gateway, according…

Overstock’s tZERO Exchange to Launch Bitcoin Trading App This June

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Overstock’s security token platform tZERO is going full crypto. Until now, security tokens had been the startup’s priority, but this summer, tZERO plans to launch its own mobile trading app for buying and selling bitcoin and, possibly, ether, CEO Saum Noursalehi told CoinDesk Thursday. The app for IOS and Android devices is scheduled to launch in June and is being developed by Bitsy — a crypto startup in the portfolio of Overstock’s venture arm Medici Ventures. “That’s part of the reason we acquired Bitsy — to accelerate time to market…

Not Just BNB: Up 120%, Huobi’s Crypto Exchange Coin Is Breaking Out

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Following in the footsteps of the world’s largest exchange cryptocurrency, Binance Coin (BNB), another exchange coin, Huobi Token (HT), is flashing a more than 100 percent price increase in 2019. Used as an alternative to trading fees on their respective exchanges, exchange cryptocurrencies are also commonly paired with other cryptocurrencies to form new markets and increase overall liquidity. Recently, however, Binance created a new demand driver for its token by requiring participants of its token sale platform Binance Launchpad to make purchases either with bitcoin (BTC) or BNB. While that…

WSJ Falsely Overstates ‘$9 Million’ ShapeShift Money Laundering Claim: Analysis

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Blockchain investigation and cybersecurity firm CipherBlade has done its own research, the results of which seem to exonerate crypto exchange ShapeShift from a scathing report in The Wall Street Journal. Shapeshift CEO Erik Voorhees was the first to tout the results, which exposed holes in the Journal’s methodology, knowledge of crypto, and other shortcomings. In CipherBlade’s published response, the firm dismantles the Journal’s key allegations one by one, chief among which was that ShapeShift facilitated a $9 million laundering comprised of swapping bitcoin and Ethereum for under-the-radar coins like Monero.…

New Document Details Ex-QuadrigaCX Law Firm’s Conflict of Interest

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Law firm Stewart McKelvey had a conflict of interest because it represented both QuadrigaCX and Jennifer Robertson, the widow of the failed cryptocurrency exchange’s founder Gerald Cotten. That’s according to a letter sent to creditors Wednesday from Miller Thomson, one of two law firms appointed as representative counsel for Quadriga customers by the Nova Scotia Supreme Court. Stewart McKelvey withdrew from representing Quadriga in the creditor protection proceedings on March 13, citing a “potential conflict” raised by other parties. The firm said at the time it did not know what the…

Binance Dominance Kills Another Veteran Bitcoin Exchange

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(+) Binance Dominance Sends Another Veteran Bitcoin Exchange to the Scrap Heap Binance’s utter dominance of the crypto trading landscape has left yet another veteran Bitcoin exchange out in the cold. | Source: Shutterstock P. H. Madore 21/03/2019 Exclusive Binance’s overwhelming dominance of the cryptocurrency trading landscape has quietly sent another veteran Bitcoin exchange to the scrap heap. Read the full story by subscribing to CCN and receive an ad-free version including discounts on future events and services. Register here for just $9.99Already got an account?Log in here About The…

Mt. Gox Is Taking a Step Towards Paying Out Creditors

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The long-defunct bitcoin exchange Mt. Gox is finally moving toward settling creditors’ accounts in cryptocurrency or cash. The exchange’s rehabilitation trustee, Nobuaki Kobayashi, announced Tuesday that he had either approved or disapproved creditors’ claims and had also notified the Tokyo District Court about the step taken. In the next few days, the trustee said he will declare the results of his decisions on the claims and creditors will be notified by various means. For instance, those who filed claims through the Mt. Gox online filing system will be able to check…

Cryptopia Exchange Resumes Crypto Trading Amid Banking Issues

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Cryptopia, the cryptocurrency exchange hit by a major hack in mid-January, has just announced that it’s restarted trading services. The New Zealand-based exchange posted a notice on Twitter Wednesday, saying: “We have resumed trading on 40 trade pairs that we have quantified as secure. We will continue to expand this list as we clear more coins.” The company is providing a full list of the available pairs on its support pages. On Jan. 16, Cryptopia went offline stating that it “suffered a security breach which resulted in significant losses.” Since then,…

Cryptopia Resumes Trading with 15% Bitcoin Haircut, Months after $16 Million Hack

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Cryptocurrency exchange Cryptopia resumed trading on 40 trade pairs three months after it endured a multi-million dollars theft. The New Zealand firm took to its Twitter profile to update that it was beginning to list pairs that it “quantified as secure.” The exchange further confirmed that it would periodically place more coins after assessing each one of them for potential misuse. As of now, cryptos like bitcoin, doge, and litecoin, are amongst the maximally listed, according to details available at Cryptopia’s official website. Update: We have resumed trading on 40 trade pairs…