Category: Exchanges

CEO of Collapsed Turkish Crypto Exchange Gets 11,196 Years in Prison

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A court in Turkey has sentenced Faruk Fatih Özer, the founder of the collapsed Turkish crypto exchange Thodex, his sister Serap Özer, and his brother Güven Özer to 11,196 years, ten months and 15 days in prison, according to Coindesk. Further, they are also facing a judicial penalty of 135 million liras (about $5 million). Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into the new age of crypto! It was part of an extensive trial of 21 defendants facing…

Why August Was a Nightmare for Exchanges

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August turned out to be not only an unfavorable month for the prices of major cryptocurrencies but also for the performance of the largest exchanges. According to data collected by Finance Magnates Intelligence, the top ten platforms in terms of spot volumes recorded their worst month in nearly three years. Total volumes fell to $359.59 billion, losing 13% monthly and a staggering 50% year-over-year (YoY). Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into the new age of crypto! The…

Binance crypto exchange saw departure of 10 key executives in 2023. Here’s the list

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The world’s leading crypto exchange by trading volume Binance has seen the departure of 10 key executives from various departments in the first nine months of 2023. While executive departures from a company are a norm based on their preset contractual obligations, the number of executives leaving Binance amid growing regulatory troubles has been a key talking point in the crypto community. The latest to join the list is Helen Hai, the executive vice president of the crypto exchange, who announced her resignation from her post on Sept. 6. On…

US Treasury, IRS propose cryptocurrency regulations for brokers

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Two federal agencies of the United States — the Department of the Treasury and the Internal Revenue Service (IRS) — have released a set of cryptocurrency regulations proposal detailing brokers’ reporting requirement. The Office of Advocacy of the U.S. Small Business Administration revealed that the proposal around crypto regulations for brokers was released on Aug. 29, as it explained: “The proposed rules would require digital asset brokers, including trading platforms, payment processors, and certain hosted wallet providers, to report gross proceeds for all sales or exchanges of digital assets starting…

HashKey signs MOU for crypto exchange insurance

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Users of Hashkey Exchange Hong Kong will soon be able to receive insurance protection on digital assets custodied on the platform. According to local news reports on Sept. 6, Hashkey has signed a memorandum of understanding with fintech firm OneDegree for insurance coverage on exchange wallets. The insurance policy will apply to both hot wallets and cold storage addresses. Xiaoqi Weng, COO of Hashkey, said the firm seeks to “improve the financial, technical and service infrastructure to provide customers with more comprehensive protection” and expand its contribution to Hong Kong’s…

Bitop Exchange Launches Enhanced Crypto, Stocks, Commodities and Binary Solutions

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September 6, 2023 – Toronto, Canada Bitop, the regulated cryptocurrency exchange, has unveiled enhancements to its core products to better meet the needs of retail and institutional clients and position itself as a primary hub for crypto, commodities, binary and stocks trading. The exchange is aiming to attract traders exploring investment options in commodities, stocks, spot and derivatives via a user-friendly platform. As traders increasingly demand access to diverse investment products, Bitop has debuted a wide range of solutions that enable its users to enjoy low fees while managing a…

dYdX to launch decentralized order books exchange on Cosmos: KBW 2023

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Decentralized exchange (DEX) platform dYdX is planning to offer a “purely decentralized” order books exchange as they migrate their ecosystem from the Ethereum network to the interchain network Cosmos. At the Korea Blockchain Week 2023, Cointelegraph’s Andrew Fenton spoke with dYdX Foundation CEO Charles d’Haussy about the DEX’s plans to implement decentralized order books on their exchange and how they plan to shift their ecosystem onto a new blockchain network. Attendees at the Korea Blockchain Week 2023 held in Seoul, South Korea. Source: Cointelegraph In the interview, d’Haussy told Cointelegraph…

London Stock Exchange Operator in Talks With Government To Launch New Blockchain-Powered Trading Venue: Report

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The London Stock Exchange Group (LSEG) is developing a new blockchain-powered trading venue, according to a new report. Murray Roos, a group head of capital markets at LSEG, tells the Financial Times that his company is “definitely not building anything around crypto assets.” Rather, Roos says they plan to use blockchain technology to make traditional asset trading more efficient. “The idea is to use digital technology to make a process that is slicker, smoother, cheaper and more transparent… and to have it regulated.” LSEG operates the London Stock Exchange, one…

Genesis to Close Its US-Based Cryptocurrency Trading Desk

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Genesis Global Trading (GGT), which focuses on spot cryptocurrency trading in the United States, is set to cease its operations later this month, as indicated in an email sent to its clients on Tuesday. GGT plans to shut down its over-the-counter trading platform on September 18. All ongoing trades must be settled by September 21, and any remaining open accounts will be officially closed by the end of the day on September 30. The email communicated that this decision was made voluntarily and for business-related reasons, media reports said. It’s…