Category: Exchanges

Germany’s Bold Leap into Cryptocurrency Recognition

boss

In an unexpected move that could reshape the financial terrain, Joana Cotar, a member of the German Bundestag, has put forward the idea of recognizing Bitcoin as legal tender in Germany. This revelation, occurring amid a global surge in cryptocurrency interest, suggests Germany’s potential leadership in adopting decentralized digital currency at a governmental level. The implications extend beyond cryptocurrency, indicating a broader shift in economic ideology—one that aligns with the principles of proactive economic policies. A Distinct Focus on Bitcoin: Shaping a New Financial Narrative Cotar’s initiative, labeled “Bitcoin in…

New Zealand dollar stablecoin goes live through local crypto exchange

boss

A New Zealand dollar-pegged stablecoin has gone live through a partnership with New Zealand crypto exchange Easy Crypto and Australian blockchain development firm Labrys. In a Nov. 22 announcement, Labrys and Easy Crypto said the NZDD will be backed 1:1 with cash in trust and regulated by the New Zealand Financial Markets Authority. It’s initially live on Ethereum but has plans to expand to Polygon, the BNB Smart Chain, Arbitrum, Optimism and Coinbase’s Base. Easy Crypto was motivated to launch the stablecoin as it claimed it was harder for New…

BTC price returns key profit mark to Bitcoin exchange users at $34.7K

boss

Bitcoin (BTC) bought on exchanges every year since 2017 is now on average in profit, the latest data confirms. Compiled by on-chain analytics firm Glassnode, exchange withdrawal figures confirm that at $37,000, a user’s purchase is on aggregate “in the black.” Bitcoin exchange users claw back bear market losses Bitcoin returned multiple investor cohorts to profit when it retook $30,000 last month, but current prices are having an impact on BTC buyers who entered much earlier. According to Glassnode, which monitors the aggregate price at which coins left exchange wallets each…

Ethereum-Based Decentralized Exchange dYdX Suffers $9,000,000 Loss in an Alleged ‘Market Manipulation Attempt’

boss

An Ethereum-based (ETH) decentralized exchange (DEX) has suffered millions of dollars in losses after an alleged market manipulation attempt by a rogue user. In a new thread on the social media platform X, the DEX protocol dYdX says that $9 million from its insurance fund was used to fill gaps in liquidations processed in the recent yearn.finance (YFI) correction but notes that no customer funds were affected. “Last night about $9 million from the dYdX v3 insurance fund was used to fill gaps on liquidations processed in the YFI market.…

Crypto exchange Bullish buys 100% stake in crypto media site CoinDesk: Report

boss

Crypto media platform CoinDesk was acquired by crypto exchange Bullish on Nov. 20, according to a report published in the Wall Street Journal (WSJ). The crypto exchange is headed by former New York Stock Exchange president Tom Farley. The media platform said that former Wall Street Journal editor-in-chief Matt Murray will chair an independent editorial committee while the current CoinDesk editorial team will remain intact. According to the report, Bullish acquired the crypto media platform in an all-cash deal, though the terms of the deal were not disclosed. The media platform,…

$1,000,000,000 in Ethereum (ETH) Leaves Centralized Crypto Exchanges in Just Three Weeks: IntoTheBlock

boss

A leading blockchain analytics firm says traders are moving Ethereum (ETH) out of centralized crypto exchanges en masse. In a new report, IntoTheBlock says it is looking at Ethereum’s exchange netflows, which tracks the ETH moving in and out of centralized crypto exchanges by subtracting the amount of a coin’s withdrawals from its deposits. According to the intelligence firm, Ethereum witnessed $320 million in outflows last week, bringing the total amount of outflows to $1 billion in just three weeks. Source: IntoTheBlock/X At time of writing, Ethereum is trading for…

Fidelity Joins Race for Spot Ethereum Exchange-Traded Fund, ETH ETF Would Be Major Win for US Investors: SEC Filing

boss

Financial services giant Fidelity is joining the roster of companies seeking to offer US investors a spot market Ethereum (ETH) exchange-traded fund (ETF).  A new filing with the U.S. Securities and Exchange Commission (SEC) shows that the $4.5 trillion asset manager is seeking to list and trade shares of the Fidelity Ethereum Fund.  “According to the Registration Statement, each Share will represent a fractional undivided beneficial interest in the Trust’s net assets. The Trust’s assets will consist of ETH held by the Custodian on behalf of the Trust. The Trust…

Top US Crypto Exchange Coinbase Introduces New On-Chain Payments Protocol

boss

Top US-based crypto exchange platform Coinbase is announcing a new on-chain payments protocol. In a new company blog post, Coinbase says that it’s setting a new standard for on-chain payments that will make them cheaper and faster for consumers. According to Coinbase, the open-source update will ensure “clarity, reliability, and a consistent experience for all users,” greatly enhancing the payment process for both merchants and customers. “At Coinbase we believe that on-chain is the new online. Just like the internet broke down barriers, democratized access to information and made knowledge…

US Feds Arrest Three Men for Allegedly Duping Banks out of $10,000,000 and Funneling Cash to Crypto Exchanges

boss

Federal law enforcement authorities have arrested three men accused of scamming millions from US banks and financial institutions and then moving the stolen money into foreign cryptocurrency exchanges. The U.S. Department of Justice (DOJ) says Zhong Shi Gao, Naifeng Xu and Fei Jiang recruited individuals, often foreign nationals from China and Taiwan temporarily living in the US, to open accounts at various banks. The trio would then take control of the bank accounts, initiate fund transfers between these accounts and then file fraudulent reports claiming that the transactions were unauthorized,…