Category: Exchanges

40% of crypto trading platforms are decentralized: World Federation of Exchanges

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A report from the World Federation of Exchanges (WFE) noted that 40% of the crypto trading platforms are decentralized and make use of distributed ledger technology. On the other hand, the majority, or 60%, of platforms make use of Central Limit Order Books (CLOBs), quite similar to regulated exchange platforms. The WFE report noted that there are a total of 500 crypto trading platforms offering various crypo linked products and services. The survey saw participation from several crypto platforms offering key insights into retail and institutional demands. The report noted…

U.S. SEC Punts on Bitcoin (BTC) Spot Exchange-Traded Fund Approvals, Delays Decisions Until October

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The U.S. Securities and Exchange Commission (SEC) is delaying its decision on the approval of spot-based Bitcoin (BTC) exchange-traded funds (ETFs) until October. In new filings, the regulatory agency announces that it will be pushing back its decision to approve or deny numerous bids to create BTC ETFs, including those of financial firms Invesco, WisdomTree and Valkyrie, from August to October. A Bitcoin ETF would give investors exposure to the crypto asset through brokerages, much like precious metals such as gold and silver. The move comes as no surprise to…

Top US Crypto Exchange Coinbase Officially Rolls Out Trading Support for New PayPal Stablecoin PYUSD

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Coinbase customers can now buy and sell PayPal’s new US dollar-pegged stablecoin on the exchange’s website and mobile apps. The top US crypto exchange officially rolled out trading support on Thursday for PayPal USD (PYUSD), which aims to maintain a 1:1 peg with the US dollar. Coinbase first placed the asset on its listing roadmap last week. PayPal unveiled PYUSD earlier this month and said it is “backed by secure and highly liquid assets.” The payment giant’s customers can buy and sell the stablecoin through the PayPal app and website and…

Crypto Exchange OKX Reveals $10,400,000,000 in Bitcoin (BTC), Ethereum (ETH) and USDT Reserves

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Crypto exchange OKX is revealing a combined $10.4 billion worth of Bitcoin (BTC), Ethereum (ETH) and the stablecoin Tether (USDT) in the platform’s reserves. According to OKX chief marketing officer Haider Rafique, the platform is committed to releasing monthly digital asset proof of reserves audits. He also says customers are able to see at any time audited proof that their crypto assets are 1:1 backed. OKX’s most recent August 25th audit shows the exchange is holding more BTC, ETH and USDT than the platform’s users are holding. According to the…

SEC Files ‘Secret’ Sealed Motion in Court Battle Against Top Crypto Exchange Binance

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The U.S. Securities and Exchange Commission (SEC) is seeking the court’s approval to submit confidential documents related to the regulator’s lawsuit against the crypto exchange Binance. On Monday, the SEC filed a sealed motion for leave to file documents under seal. If granted, the agency will be allowed to file sensitive or confidential information with the court that will be kept off the public record. John Reed Stark, former chief of the SEC’s Office of Internet Enforcement, says filing court documents under seal is a rare move by the SEC…

Analysts Observes Drop in Bitcoin Exchange Outflows Indicate Long-Term Holder Confidence

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Bitcoin held on centralized exchanges declined 4.1% reduction in August, CryptoQuant data revealed. This decline in holdings could signify a growing sense of investor confidence in the digital currency, analysts said. According to CryptoQuant data, centralized cryptocurrency exchanges concluded August with a total of 2,010,346 Bitcoin, representing an 86,305 Bitcoin decrease from the beginning of the month. This marks the lowest recorded reserve level since January 2018. This diminishing supply of Bitcoin stored on exchanges implies a heightened level of investor trust in the long-term potential of Bitcoin. Alternatively, it…

X Holds Licenses Across Multiple US States for Payment Processing, Including Cryptocurrency

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X, the social media platform under the ownership of Elon Musk, formerly known as Twitter, has secured licenses for payment services from several U.S. states. Notably, the platform acquired a currency transmitter license in Rhode Island earlier this week. Media reports said these licenses grant X the ability to offer a broader spectrum of payment services. Musk has articulated his vision for X to evolve beyond its original role as a social media platform, aiming to become an encompassing “everything app.” The series of money transmitter licenses acquired since June from…

Only Exchange with Monthly PoR Since FTX’s Fall

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After the high-profile collapse of the cryptocurrency exchange FTX in November 2022, the industry began looking for solutions to assure investors that centralized trading platforms are safe. This led to the idea of creating Proof of Reserves (PoR) to show the current state of a given exchange’s capital reserves. OKX has just published its tenth consecutive PoR report, showing $10.4 billion in reserves in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into…

Breaking victim ‘trust’ in scammer is key to beat crypto scams, exchanges say

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Cryptocurrency exchanges in Australia have been increasingly communicating with their users as part of preventative measures against scams. According to local crypto firms, such communication is the key to preventing scams as it is able to “break trust” between victims and scammers. Executives at major Australian crypto firms such as Cointree, CoinSpot and Swyftx met at a panel of the fintech conference Intersekt 2023 in Melbourne on Aug. 31 to discuss the issue of scams and fraud in crypto. At the panel, the executives mentioned a variety of measures taken by…

No, Bitcoin withdrawals from exchanges are not inherently bullish for crypto

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Crypto analysts on X (the social media platform formerly known as Twitter) and in YouTube interviews have been abuzz with talk about the trend of Bitcoin leaving centralized exchanges. On Aug. 29, the quantity of Bitcoin (BTC) held within exchanges saw a decline, reaching its lowest point since January 2018. While various factors might underlie this movement, experts analyzing blockchain data often interpret the shift as a positive indicator. Traders are now questioning what might have been causing Bitcoin’s inability to break above $31,000 since this price action doesn’t align…