Category: Exchanges

“Uptober” Takes Crypto Exchanges to 4-Year Highs

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This year’s cryptocurrency “Uptober” did not disappoint and benefitted the largest cryptocurrencies and centralized exchanges. Bitcoin’s (BTC) nearly 30% increase drove retail trader activity, impacting a significant growth in spot volumes among the TOP 10 exchanges. On average, volumes grew 54% in October compared to September. According to data collected by Finance Magnates Intelligencer, the total volume increased month-over-month (MoM) $153 billion, bouncing back from the worst month since the beginning of 2023. October has historically been one of the best months for cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies,…

Former FTX Employee Sues Bankrupt Crypto Exchange Seeking $275,000 in Unpaid Bonus: Court Docs

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A former FTX employee who was hired to work with the fallen crypto empire’s charity wing is taking legal action to get his unpaid 2022 bonus. In a new court document filed on November 13th, Ross Rheingans-Yoo says that FTX still owes him $275,000 of the $650,000 that he was supposed to receive as a bonus last year. “The Debtors paid Rheingans-Yoo $375,000 cash out of his $650,000 first-half 2022 bonus on or around September 15, 2022. However, the Debtors did not pay the remaining $275,000 in cash.” The filing…

Bankrupt Crypto Lender Celsius Moves Over $10,000,000 Worth of Ethereum (ETH) To Exchange: On-Chain Data

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An address associated with failed crypto lending platform Celsius has moved millions of dollars worth of Ethereum (ETH) to an exchange, according to on-chain data. Citing data obtained from blockchain explorer Etherscan, on-chain data tracker Lookonchain says that Celsius moved 5,160 ETH worth approximately $10.49 million to institutional crypto trading platform FalconX. According to Lookonchain, Celsius, which filed for bankruptcy in July of 2022, possibly “wants to sell some assets with the rising prices.” Source: Etherscan Ethereum is trading at $2,033 at time of writing, up by nearly 80% year-to-date.…

Kevin O’Leary Says New Crypto Exchange Will Compete With Binance, Become the Largest Ever To Be Regulated

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Shark Tank star Kevin O’Leary says a new crypto exchange is coming that will take business away from the industry’s leading giants. In a new interview with Fox Business, the venture capitalist says the days of the “crypto cowboy” are long gone. O’Leary says that a new firm based in Abu Dhabi called M2 will become the largest “regulated” crypto exchange in the world, backed by billions in capital with connections to large institutional players. “The age of the crypto cowboy, those days are over… We have the pending announcement,…

Crypto Exchange Bithumb Gearing Up To Go Public on Korean Stock Market: Report

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A South Korean-based cryptocurrency exchange is reportedly planning to conduct an initial public offering (IPO) in 2025. In a new report, South Korea’s business publication Edaily says that Bithumb, which began operations in 2014, plans to go public in the second half of 2025. According to the report, Bithumb has picked Samsung Securities, a subsidiary of the Samsung Group, as the IPO’s underwriter. While Bithumb has yet to confirm its plans to go public, the firm told Edaily that “it is true that we have selected an underwriter.” Funding appears to…

Cryptocurrency Exchange OKX Coming Out With Layer 2 ‘X1’ Built on Polygon Technology

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Polygon’s CDK is currently in the mix for consideration for Kraken’s layer 2, according to people familiar with the matter, but Polygon Labs Chief Executive Officer Mark Boiron said he doesn’t think the announcement about X1 – the result of a major deal with a big exchange competitor – would scuttle its prospects. “If anything, frankly, it should be more attractive, including to exchanges,” Boiron told CoinDesk in an interview. Source

Owner of Hong Kong crypto exchange OSL secures $90M investment

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BC Technology Group, the operator of Hong Kong’s publicly listed cryptocurrency exchange OSL, has announced a significant investment from industry firm BGX. BC Technology entered into a partnership with BGX, which agreed to subscribe for shares in BC Technology for an investment of about 710 million Hong Kong dollars ($90.1 million), the firms said in a joint announcement on Nov. 14. This strategic investment will involve the subscription of new shares under a specific mandate, subject to approval by shareholders, the announcement notes. According to the firms, the investment marks…

Taiwan’s Crypto Exchange Faces Money Laundering Charges, COO Arrested

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Bitgin, a cryptocurrency exchange operating in Taiwan, is facing a police investigation for money laundering following the arrest of its Chief Operating Officer, Yuting Zhang, for his alleged role in a major money laundering scandal, local media reported. Zhang’s association with the ’88 Guild Hall’ money laundering incident from late 2021 to March 2022 was also confirmed by the crypto exchange in an official statement. The ’88 Guild Hall’ controversy erupted in Taiwan, exposing a massive money laundering scandal. Two local businessmen, Zhemin Guo and Chengwen Tu, are primarily accused…

Executives Behind Backpack Wallet Gearing Up To Launch New Crypto Exchange That Aims To Protect User Funds: Report

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The creators of the Backpack wallet are reportedly gearing up to launch a new crypto exchange with the ethos of properly securing user funds. Trek Labs, a firm led by Backpack wallet creator Armani Ferrante and former FTX general counsel Can Sun, has received a crypto license from the United Arab Emirates’ regulators, the Wall Street Journal (WSJ) reports. As part of the launch, the venture aims to sell a 10% stake to investors at a valuation of more than $100 million. Backpack wallet is already an established wallet, especially…

Altcoin Project Skyrockets Over 200% Amid Support From Crypto Exchange Binance

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A six-month-old altcoin project is soaring after earning surprise support from crypto exchange Binance, the largest digital asset exchange in the world. After Binance announced on November 7th that it was listing ORDI for trading, the new token soared from $7.43 to a high of $23.80, a 220% increase. ORDI tokens, which adhere to the “BRC-20” token standard, are tradable coins that use the Ordinal Protocol to inscribe information into satoshis, the smallest unit of value on the Bitcoin (BTC) blockchain. The project was launched by an anonymous user in March…