Category: Exchanges

This TOP10 Crypto Exchange’s Revenue Collapsed by Over 70% in One Year

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After a record-breaking 2021, one of Europe’s oldest cryptocurrency exchanges experienced two consecutive years of significant unprofitability. The British branch of Luxembourg-based Bitstamp recently published its 2023 results, showing a revenue decline to just under €8 million and a net loss of €19.7 million. Bitstamp Limited, registered in the UK, emphasized in its report published this week in Companies House that the 70% year-over-year revenue drop from €29 million was “mainly driven by unfavorable market conditions and the reduction in trading volumes.” In 2021, the exchange achieved a record profit…

Nigeria Approves Two Crypto Exchanges, Warns Against Patronizing ‘Illegal Operators’

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The Nigerian Securities and Exchange Commission (SEC) has granted “approval-in-principle” to Busha Digital and Quidax Technologies, the first digital asset exchanges to operate in the country. Additionally, four digital asset offering platforms and one custodian have been admitted to the regulatory incubation program to test their technology. The SEC has cautioned the Nigerian public to […] Source

Quidax Becomes Nigeria’s First SEC Licensed Crypto Exchange

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PRESS RELEASE. Lagos, Nigeria, 29th August 2024 – On Thursday, African-founded cryptocurrency exchange, Quidax announced that it has become the first crypto exchange to receive a provisional operating license by Nigeria’s Securities and Exchange Commission (SEC) as a Digital Assets Exchange. The license which was presented by the Securities and Exchange Commission grants Quidax the […] Source

Washington State Probes Alleged Crypto Fraud Linked to Fake Nasdaq Exchange

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The financial watchdog in Washington State is currently probing a complaint regarding a cryptocurrency platform that allegedly purports to be associated with the Nasdaq Stock Exchange. This inquiry began after an investor reportedly put in $200,000 following a solicitation on Facebook that transitioned to communication over Whatsapp. The regulator has flagged this as a potential […] Source

Indian Court Orders Scam Websites Using Crypto Exchange Mudrex’s Name to Be Taken Down

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Scammers impersonating Mudrex employees on messaging service Telegram would lure retail investors by promising rewards and work opportunities if they performed certain tasks, including writing Google reviews. They also used fake websites under the Mudrex name and “invited the general public to invest on these websites, collecting monies from them illegally and frequently,” the court order said. Source

DTX Exchange’s Layer-1 Blockchain Soars After Testnet Launch

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DTX Exchange (DTX) has taken center stage in the crypto market after announcing the much-awaited testnet launch. The decentralized trading platform has also surpassed $1.8 million raised in its ongoing presale weeks ahead of expected. This development is expected to accelerate the development of a unified trading ecosystem. Analysis of DTX Exchange’s Unified Platform DTX Exchange (DTX) was envisioned as a cutting-edge platform that brought together conventional and decentralized assets under a single umbrella. The DeFi exchange provides retail traders with maximum capital access along with a suite of trading…

Crypto Exchange Abra Settles With SEC Over Unregistered Securities Allegations

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The crypto exchange Abra has settled with the U.S. Securities and Exchange Commission (SEC) for a yet-to-be-determined amount over charges stemming from alleged unregistered investment offerings. The SEC specifically accused Abra’s parent company, Plutus Lending LLC, of failing to register its retail crypto asset lending product, Abra Earn. Abra settled the SEC’s charges without admitting or denying the allegations. The exchange began offering Abra Earn in 2020, allowing users to tender their crypto to earn an interest rate. The product secured approximately $600 million worth of assets at its height,…

Binance CEO Richard Teng Rejects Allegations the Exchange Froze All Palestinians’ Funds

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In his post, Youssef included a letter in Hebrew from Paul Landes, head of Israel’s National Bureau for Counter Terror Financing, together with a translation. The letter rejects an appeal against a seizure order dating from Nov. 1, 2023, and says funds were transferred from the Dubai Exchange Company in the Gaza Strip to cryptographic wallets “yours among them.” The letter doesn’t identify the recipient. The Dubai Exchange Company was designated a terror organization in 2022, it says. Source