Category: Exchanges

Top Crypto Exchange Binance Announces Upcoming Support for Soon-To-Be Launched Gaming Altcoin

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Top global crypto exchange Binance plans to list an upcoming gaming altcoin via its Launchpool platform. Binance Launchpool allows users to stake coins to farm new assets, the platform’s 43rd project will be the gaming blockchain Xai (XAI), which the exchange plans to list on January 9th. Between January 5th and the 9th, Binance users can stake BNB as well as the stablecoins First Digital USD (FDUSD) and TrueUSD (TUSD) into separate pools to farm XAI tokens. Binance says it will attach a seed tag to XAI, which the exchange…

Taiwanese crypto exchange founder arrested for fraud: Report

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Authorities in Taiwan have reportedly arrested David Pan, the founder of Ace Exchange, for allegedly committing fraud using cryptocurrencies.  According to a Jan. 4 report from the Liberty Times, the Taipei City police arrested Pan and 14 others following raids on several locations, including Ace’s headquarters. The authorities reportedly alleged the individuals earned roughly 200 million Taiwanese dollars — $6.4 million at the time of publication — in illegal gains by deceiving investors with false crypto claims. In a Jan. 4 statement on X (formerly Twitter), Ace said any alleged…

SIX Swiss Exchange Records 13% Drop in Turnover

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The trading turnover for SIX Swiss Exchange recorded a notable decrease to CHF 1,046.3 billion from the previous year’s CHF 1,208.1 billion in 2023. This reflects fluctuations, expansions, and new market entries, shaping the trajectory of both exchanges’ activities throughout the year According to a statement released by the company today (Wednesday), the exchange witnessed a surge in transaction volumes, reaching 46,094,349 from the previous 60,810,665, showcasing increased market activity despite lower turnover. Ten companies chose SIX Swiss Exchange for equity listings, aggregating approximately CHF 2.2 billion in transaction volume.…

Trader Predicts Breakout Rally for Decentralized Exchange Crypto, Says Altcoin Looks Very Strong

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A crypto strategist believes that one altcoin that’s flying under the radar is gearing up for a big breakout surge. Pseudonymous analyst The Crypto Dog tells his 755,600 followers on the social media platform X that the native asset of the decentralized exchange (DEX) GMX (GMX) is forming a huge bullish pattern on the weekly chart. According to the crypto strategist, GMX could witness a nearly 90% rally if it takes out its immediate resistance at $56.26. “GMX painting a massive multimonth inverse head and shoulders… Measure rule gives a…

Privacy-Focused Altcoins Suffer Price Drops After Crypto Exchange OKX Says It Will Delist Monero, Zcash and Dash

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A trio of privacy-focused altcoins are seeing dips in price after a prominent crypto exchange platform said it is going to delist them. In a new company blog post, the Seychelles-based crypto exchange OKX says that it’s going to delist Monero (XMR), Zcash (ZEC), and Dash (DASH) as they no longer fit the firm’s listing criteria, though no exact was reason was given. “In order to maintain a robust spot trading environment, we constantly monitor the performance of all listed trading pairs and review their listing qualifications on a regular…

India Cracks Down on Offshore Crypto Exchanges: A Level Playing Field at Last?

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The Indian government has issued show-cause notices to nine major offshore crypto exchanges, including Binance, KuCoin, and Kraken, and threatened to block their URLs. This action comes after months of domestic exchanges struggling against unfair competition from their unregulated counterparts, media reports said. The notices cite non-compliance with India’s Prevention of Money Laundering Act (PMLA) as the reason for the crackdown. These exchanges haven’t registered with the Financial Intelligence Unit (FIU) despite catering to a substantial number of Indian users. Local crypto industry bodies like the Bharat Web3 Association (BWA)…

Decentralized Exchange Built on Osmosis Hit With Oracle Attack, Hacked for $1,140,000 Worth of Crypto

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A decentralized exchange (DEX) built on Osmosis (OSMO) was hacked for $1.14 million worth of crypto this week. The Levana Protocol (LVN), which focuses on perpetual swaps, announced on Wednesday that it had been hit with an oracle attack that impacted 10% of its liquidity pools (LPs). Levana says the issue has been resolved and opening positions will relaunch next week. The project notes existing liquidity pools are not at risk of further attack and says impacted LPs will be compensated via future airdrops and protocol fees that were collected…

Binance Coin (BNB) Spikes Over 30% in Ten Days As 40,000,000 New Users Join the Crypto Exchange in 2023

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The native asset of the world’s largest crypto exchange platform by volume is spiking as new data reveals that Binance onboarded 40 million new users in 2023. According to Binance’s 2023 end of year report, the crypto exchange increased its number of new users by 30% compared to 2022 despite a year rife with regulatory woes. “This year, our organization took responsibility for historical issues and has evolved through leadership change, emerging from it an even stronger business. In 2023, Binance welcomed more than 40 million new users (more than…

India to Block Websites of Binance, Kraken, and 7 Other Crypto Exchanges

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The Indian government has issued show cause notice to nine popular offshore virtual digital assets service providers under the local anti-money laundering laws. The announcement yesterday (Thursday) further detailed that the Financial Intelligence Unit (FIU) ordered to blacklist the domains of the nine crypto exchanges as they are illegally operating in the country. The names of the crypto exchanges in the notice are Binance, Kucoin, Huobi, Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global, and Bitfinex. All these exchanges are ranked at the top in terms of global crypto trading volume but…