Circle Expands to Bermuda, Praises Pro-Crypto Island Government

Circle announced today that it will be expanding its regulated services to Bermuda, using its new position in the island nation to service its global audience. Circle cited Bermuda’s pro-crypto regulatory environment as a primary motivation for expanding to the island nation. According to the announcement: “While many governments around the world have not kept pace with the regulatory requirements driven by rapid innovation in digital asset businesses and crypto, Bermuda has leapt forward with an exceptionally well designed and comprehensive regulatory framework: the Digital Assets Business Act of 2018…

Circle Moves Non-US Poloniex Customers to New Bermuda Entity

Due to mounting regulatory pressures in the United States, the crypto company Circle is moving the majority of its exchange operations offshore. Circle announced Monday it received a full Digital Assets Business Act license in Bermuda for its crypto exchange Poloniex. Circle CEO Jeremy Allaire told CoinDesk that 70 percent of Poloniex users hail from beyond the U.S. and the new Bermuda-based entity will handle those accounts from now on. In May, the company geofenced some assets on Poloniex from U.S. customers. “Europe and Asia are both pretty significant markets…

Crypto Exchange BitMEX Under Investigation By CFTC: Bloomberg

Seychelles-based cryptocurrency exchange BitMEX is being probed by the U.S. Commodity Futures Trading Commission (CFTC) over client trades. The news appeared on Bloomberg Terminal soon before press time on Friday, and was followed by a tweet from the newspaper’s tech columnist Tim Culpan. He said: Breaking news*U.S. REGULATOR PROBING CRYPTO EXCHANGE BITMEX ON CLIENT TRADES@BitMEXdotcom under investigation, just two weeks after that @Nouriel v @CryptoHayes Tangle in Taipei. — Tim Culpan (@tculpan) July 19, 2019 CoinDesk will monitor the breaking news and update this report as soon as more information is available.…

For $15K, He’ll Fake Your Exchange Volume – You’ll Get on CoinMarketCap

The Takeaway Gotbit inflates trading volumes on obscure cryptocurrency exchanges for a fee and has about 30 token projects as clients. The firm programs bots to trade tokens back and forth with each other, creating the illusion of active markets so the assets can get listed on CoinMarketCap. Its co-founder says exchanges are aware of this manipulation but are not interested in stopping it. While it’s rare to hear market manipulators talk openly about their trade, there are other businesses like this out there, experts say. To cryptocurrency professionals trying…

Hacked BITpoint Exchange to Refund 50,000 Affected Users in Crypto

Cryptocurrency exchange BITPoint Japan has said that the roughly 50,000 users who lost funds in its recent hack will be reimbursed in cryptocurrency. The company told reporters in Tokyo on July 16 that customers will receive refunds of crypto on a 1:1 basis, The Asahi Shimbun reports Wednesday. The company’s latest estimate of losses from the security breach comes to around 3.02 billion yen ($28 million) – roughly $4.6 million less than originally thought, the report says. The thousands of exchange customers are said to have lost 2.06 billion yen ($20 million) in…

Binance Eyes Launch of Crypto Exchange in South Korea

Binance, the world’s top exchange by trading volume, is considering launching a branch in South Korea, according to reports. Changpeng “CZ” Zhao confirmed the possibility to local news source Block In Press on Tuesday, saying (via translation) that the firm is “working with local partners, but we do not know the details.” However, according to a report by CoinDesk Korea, a business entity dubbed Binance LLC has been established in the country, with the director listed as Jiho Kang of BXB Inc., a firm offering a Korean won-backed stablecoin. A Binance representative reportedly told Block…

Hacked Crypto Exchange Reveals New $2.3 Million Theft, $35 Million Total

After losing about ¥3 billion ($32 million) to cyber criminals last week, it now appears that hackers not only targeted the Japanese operations of Bitpoint but also other overseas exchanges running the firm’s cryptocurrency trading system. According to The Japan Times, cryptocurrencies worth $2.3 million were stolen in an earlier attack which targeted Bitpoint’s subsidiaries. The Japanese cryptocurrency exchange did not, however, disclose which subsidiary or subsidiaries were affected. Currently, Bitpoint Japan operates subsidiaries in Asia, South America and North America. Some of these subsidiaries are BITPoint Malaysia, BITPoint Hong…

Hacked Crypto Exchange Bitpoint Discovers More Millions Are Missing

After announcing a $30-million hack last week, Japan-based cryptocurrency exchange Bitpoint says it’s discovered that another $2.3 million is missing. A report from Japan Today on Monday said the extra losses were discovered at exchanges outside Japan that were using Bitpoint’s trading system and announced Sunday. The firm announced Friday that it had suffered a security breach arising in the loss of around 3.2 billion yen (almost $30 million) in cryptocurrencies. As a result, it halted all services including trading, deposits and withdrawals of all crypto assets. The platform’s parent company Remixpoint…

Binance Launches Bitcoin Margin Trading on 2.0 Platform with 3x Leverage

Binance, the world’s largest cryptocurrency exchange by trading volume, has officially launched a margin trading platform. After strong demand from traders, the Binance 2.0 platform will allow users to leverage their trades across six digital assets: Bitcoin (BTC), Binance Coin (BNB), Ethereum (ETH), XRP, Tether (USDT), and Tron (TRX). #Binance Launches Margin Trading service for Evolving Cryptocurrency Traders Binance Margin is now available to all eligible users. #TradingEvolvedhttps://t.co/GPDIwKtO6E pic.twitter.com/85DtUtsJC5 — Binance (@binance) July 11, 2019 Margin trading on Binance The new margin functionality allows Binance users to amplify their trades…

Binance Launches Platform ‘2.0’ as Margin Trading Goes Live

The top crypto exchange by trading volume, Binance, has launched version 2.0 of its platform – a move that officially adds margin trading for its customers. The firm revealed that margin trading was on the way in late May, and said that the service would feature up to 20x leverage soon after. In an announcement Thursday, Binance indicated that leverage (the amount that can be borrowed against a user’s crypto collateral) is just 3x, however. “Your Margin Wallet balance determines the amount of funds you can borrow, following a fixed…