Category: Exchanges

Crypto Exchange JPEX Moves to Deregister Australia Entity, HK Blocks Access

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The troubles of the crypto exchange JPEX can be sensed from its latest move to deregister its local entity in Australia. According to a Cointelegraph report, Jieyi Chen, a Director of JP-EX Crypto Asset Platform PTY LTD (JPEX), has already filed a deregistration application with the Australian financial regulator. Although there is no official confirmation, the deregistration application reportedly claims that all members of the entity agreed to the move as the company is no longer conducting any business. Further, it highlighted that the Aussie entity has less than AU$1,000…

SEC Suffers Blow in Lawsuit Against Binance.US After Judge Denied Request To Probe Exchange’s Software: Report

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A US federal magistrate judge is reportedly choosing not to grant the U.S. Securities and Exchange Commission (SEC) permission to inspect the technological infrastructure of Binance’s American affiliate, a setback for the regulator. A new report from Bloomberg indicates the SEC asked Magistrate Judge Zia M. Faruqui on Monday for permission to search through Binance.US’s software, but Faruqui shot down the idea, saying he was not inclined to permit the inspection “at this time.” The judge told the regulator to come back with more specific requests, according to Bloomberg. The…

Troubled crypto exchange JPEX applies for deregistration in Australia

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Troubled Hong Kong crypto exchange JPEX has applied for deregistration in Australia. According to a filing seen by Cointelegraph on Sept. 20, Jieyi Chen, director of JP-EX Crypto Asset Platform PTY LTD (JPEX), has filed a deregistration application with the Australian Securities and Investment Commission. In the filing, JPEX claims that all members of the company agree to the deregistration, the company is no longer carrying business, its assets do not exceed $1,000 Australian dollars, and it carries no liabilities. On Sept. 13, during the Token2049 conference in Singapore, the…

SEC Pursuits of Crypto Exchanges for Violating Laws

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The U.S. Securities and Exchange Commission (SEC) is showing no signs of slowing down in its efforts to enforce securities laws within the cryptocurrency space, according to David Hirsch, the head of the agency’s Crypto Assets and Cyber Unit. Speaking at the Securities Enforcement Forum Central in Chicago, Hirsch emphasized the SEC’s commitment to scrutinizing crypto exchanges and decentralized finance (DeFi) projects, following the recent legal actions against Coinbase Inc. and Binance. Hirsch’s enforcement office has been unusually active, and he made it clear that they are actively investigating other…

Ethereum ICO Participant Moves $9,960,000 Worth of ETH to Crypto Exchange Kraken: On-Chain Data

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An original Ethereum (ETH) investor deposited 6,000 ETH worth $9.96 million to the crypto exchange Kraken on Monday, according to the crypto tracker Lookonchain. The whale participated in Ethereum’s 2014 initial coin offering (ICO), receiving 254,908 ETH when the second-largest crypto asset was only priced at $0.31. With ETH trading at $1,647 at time of writing, that means the value of that trove of 6,000 ETH shot up by a staggering 531,361% as it sat in the whale’s care for nine years. Blockchain-tracking service Etherscan indicates that the deep-pocketed investor…

Parents of Sam Bankman-Fried Sued by FTX Estate Over Allegedly Siphoning Funds From Crypto Exchange: Report

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The parental guardians of former FTX CEO Sam Bankman-Fried are reportedly being sued by the crypto exchange’s bankruptcy estate for allegedly misappropriating funds. According to a new article from the Financial Times, Joseph Bankman and Barbara Fried are being sued by the FTX estate over allegedly siphoning funds from the now-bankrupt exchange. Says prosecutors, “As early as 2018, Bankman described Alameda as a ‘family business’ — a phrase he repeatedly used to refer to the FTX Group.” However, Bankman and Fried’s lawyers say the allegation is “a dangerous attempt to intimidate…

Crypto Exchange CoinEx Promises Generous Bug Bounty Reward to Hacker Following $70,000,000 Exploit

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Days after suffering a security breach, crypto exchange CoinEx is attempting to reach out to the hackers responsible for the incident. In an open letter to the hackers, CoinEx says it is ready to reward the perpetrators of the theft with a “generous bug bounty” if the stolen assets are returned. “We hope you recognize the impact of this event on each one of those users. We would appreciate it if you understand the concerns and frustrations of these affected users. We sincerely invite you to work with us to resolve…

$2,000,000,000 Worth of Crypto Wash Trading on Ethereum-Based Decentralized Exchanges, Says Surveillance Firm

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A crypto surveillance firm says that billions of dollars in fake market volume are flowing through decentralized exchanges (DEXs) on Ethereum (ETH). In a new report, Solidus Labs says crypto token deployers and liquidity providers have wash traded at least $2 billion worth of crypto assets on Ethereum-based DEXs since 2020. Wash trading involves entities buying and selling an asset at the same price from themselves to artificially inflate the trading volume and attract more investments and liquidity According to Solidus, 67% of the roughly 30,000 DEX liquidity pools it…

Crypto Whale Withdraws $116,000,000 Worth of One Altcoin That’s Up 222% in Past Month From Exchanges: Report

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A wealthy altcoin holder just withdrew nine figures worth of an Ethereum (ETH)-based crypto asset from exchanges right after parabolic rallies. First spotted by crypto reporter Colin Wu, a whale that controls 21% of the supply of Tellor Tributes withdrew roughly $116 million worth of TRB tokens from exchanges. “A whale (3 associated addresses) has withdrawn a total of 872,600 TRB (currently worth $116 million) from exchanges since August 30, accounting for 34.5% of the circulating [supply]. On September 4th, 9th, and 15th, three TRB transfers of 100,000 were conducted…

FTX Cryptocurrency Exchange Case

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NFL quarterback Trevor Lawrence, along with popular YouTube influencers Kevin Paffrath and Tom Nash, have reached a settlement in a lawsuit related to their endorsements of the now-defunct FTX cryptocurrency exchange. According to Bloomberg’s report on September 16, the terms of the settlement have not been disclosed. This development marks the first resolution among more than a dozen celebrities and firms accused of assisting Sam Bankman-Fried, the Founder of FTX, in alleged investor deception. He is set to face a criminal trial in Manhattan next month. Other high-profile individuals, including…