Category: Exchanges

Bitcoin exchange volume tracks 5-year lows as Fed inspires BTC hodling

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Bitcoin (BTC) exchanges have seen trading volume collapse as traders deal with constant macroeconomic uncertainty. According to new research from on-chain analytics platform CryptoQuant published on Sept. 25, daily BTC volumes are at lows rarely seen since 2018. Fed keeps Bitcoin investors wary of “possible recession” Bitcoin price action has stayed in a familiar range for several months, and as time goes by, interest in transacting appears to be fading. CryptoQuant data, which tracks activity on both spot and derivatives exchanges, highlights the extent to which volumes have decreased since…

Taiwan’s Cryptocurrency Sector’s Industry Association

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Taiwan’s cryptocurrency industry is taking steps towards establishing an industry association in collaboration with its financial regulator. This move comes ahead of the expected release of official guidelines later this week. In a collective statement, nine cryptocurrency firms have announced their intent to apply for the formation of an industry association by mid-October. To expedite the process, they have formed a dedicated working group. Since July 2021, Taiwan has mandated virtual asset services providers (VASPs) to adhere to anti-money laundering (AML) laws, as introduced by the Financial Supervisory Commission (FSC).…

Taiwan’s major crypto exchanges form association to advance industry interests

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As Taiwan regulators prepare to lay out a crypto regulation framework in September, Taiwan’s digital asset platforms have announced the establishment of an industry association.  MaiCoin Group, BitoGroup and Ace Exchange became the first three founders of the Taiwan Virtual Asset Platform and Transaction Business Association. The preparatory group for the association was formed in early September, but legally, the initiative would become effective in October after the government issues its crypto framework. There are currently nine crypto exchanges represented in the preparatory group. Besides the three named above, the group…

Binance Reopens Crypto Exchange Services in Belgium

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Binance has reopened its services in Belgium by resuming its registration for the country’s residents after a suspension for about three months, the crypto exchange giant announced yesterday (Monday). “We are delighted to announce that as of today, new registrations of Belgian residents are welcome on our platform once again,” the tweet from Binance’s Belgian handle stated. “In addition, various Binance products and services are accessible again to Belgian users who have accepted our new Terms of Use.” Great news for our Belgian community 🇧🇪 We’ve now reopened registrations and…

Crypto Exchange HTX Suffers $8 Million Ether Hack, Justin Sun Confirms

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HTX, formerly known as Huobi, has fallen victim to a security breach resulting in the loss of 500 ether (ETH), valued at approximately $8 million. This incident, as reported by HTX advisor and Tron founder Justin Sun, transpired on Sunday and was promptly detected. Sun assured the crypto community via the social media platform X (formerly Twitter) that HTX has fully covered the incurred losses, assuring the safety of all funds. The compromised wallet appears to be one of HTX’s hot wallets, which has received approximately $500 million in deposits…

Coinbase Now Registered As Crypto Exchange and Custodian Wallet Provider With Bank of Spain

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Top US digital asset exchange Coinbase has successfully registered as a cryptocurrency exchange and custodian wallet provider with the Bank of Spain. Coinbase says in a new announcement that the registration will let the company offer its full scope of products to retail and institutional users in Spain within regulation. Spanish users will now be able to access Coinbase’s custody services, buy and sell digital assets using fiat currency and trade crypto against other crypto, as per the announcement. Nana Murugesan, vice president of international and business development at Coinbase,…

Crypto exchange Upbit stems fake APT token flood, resumes services

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South Korea cryptocurrency exchange Upbit has resumed Aptos (APT) deposits and withdrawals again after fixing an issue that saw a scam APT token incorrectly recognized as the real deal. On Sept. 24, Upbit abruptly halted Aptos token services after noting an “abnormal deposit attempt,” prompting an inspection of the wallet system. The problem appears to have originated from a newly created fake APT token called “ClaimAPTGift.com” which had made its way to 400,000 Aptos wallets after its creation on Sept. 21. The fake token was likely part of a typical…

Distressed Debt Investors Pounce on $250,000,000 Worth of Bankrupt Crypto Exchange FTX’s Claims: Report

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Distressed debt investors are reportedly gobbling up hundreds of millions of dollars worth of bankrupt crypto exchange FTX’s claims. According to a new Bloomberg report, an analysis of their records indicates that investment firms such as Silver Point Capital, Diameter Capital Partners, Attestor Capital, Hudson Bay Capital Management and others have bought $250 million worth of FTX debts since the start of 2023. Bloomberg says that investors are operating in an unregulated bankruptcy claims market where debt contracts can be purchased for a fraction of what is owed. Thomas Braziel,…

Top US Crypto Exchange Coinbase Adds Trading Support for New Under-the-Radar Layer-1 Project

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Customers at Coinbase can now trade the native token of a nascent layer-1 project called Vara Network (VARA). The top US crypto exchange rolled out support this week for VARA, the native asset of Vara Network, which just celebrated its mainnet launch on Wednesday. The project is an independent decentralized layer-1 network that aims to enable “the best playground” for next-gen gaming and financial-based applications. It’s built on the Gear Protocol, a Substrate-based smart-contract platform. Says the Vara website, “Building on Vara Network is ideal for both developers already in…

A Game-Changer for Cryptocurrency Investors

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The cryptocurrency industry was buzzing with expectation and excitement as Ethereum, the second-largest blockchain by market capitalization, prepared for the Ethereum Merge. In this detailed article, we will look at the Ethereum Merge concept, its relevance in the crypto industry, the mechanics of this transfer, and the impact it had on cryptocurrency investors. Introduction Since its creation, Ethereum, also known as the backbone of the decentralized finance (DeFi) ecosystem and non-fungible tokens (NFTs), has used a proof-of-work (PoW) consensus mechanism. However, the scalability and energy efficiency of Ethereum have long…