Category: Exchanges

Moscow Exchange Ends Q2 with Solid Numbers

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Moscow Exchange (MOEX) has released its financial results for the second quarter of 2023, reporting RUB 1.6 billion in fees and commission income from the foreign exchange (forex) market. The figure jumped by 10 percent quarter-over-quarter and 39.8 percent year-over-year. Don’t miss London’s premier financial event! 3,500+ attendees, 150+ speakers, and 120+ exhibitors await you for unmatched networking, expert insights, and cutting-edge innovations. Register now! The income from the FX market was generated as the trading volume in the FX market reached RUB 66.7 billion, an increase of 9.5 percent…

Finst Becomes First Dutch Cryptocurrency Platform To Release an Extensive Proof of Reserves

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August 22, 2023 – Amsterdam, Netherlands Amsterdam-based cryptocurrency exchange Finst announces the successful release of its PoR (proof of reserves) conducted by a reputable and independent audit firm. Finst’s extensive PoR audit is a first-of-its-kind, aiming to address the limitations of traditional PoR and set higher transparency standards in the crypto industry. The audit, which will be renewed at least every six months, confirmed that Finst holds its clients’ assets on a full reserve basis – 1:1 – and has implemented an effective segregation of assets. As a crypto investor,…

Indian Crypto Exchange CoinDCX Reduces Headcount by 12% 

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Leading Indian crypto exchange CoinDCX has announced a 12% reduction in headcount due to a prolonged bear market and difficult tax policies in the domestic market. The Mumbai-based company has about 590 employees and about 71 are affected by the lay-off decision. CoinDCX was founded in 2018 by Neeraj Khandelwal and Sumit Gupta.  The company has offered a support package to the outgoing employees, which consists of “severance pay equivalent to the full notice period, additional one month of salary, variable pay & incentives dues, encashment of unutilised leaves, extension…

Crypto Exchange Gemini Slams SEC in New Court Brief in Lawsuit Over Earn Program

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Crypto exchange Gemini is calling out the U.S. Securities and Exchange Commission (SEC) in its lawsuit over the platform’s Earn program. In a lengthy post, Gemini lawyer Jack Baughman says that the SEC’s lawsuit targeting the protocol’s Earn program, which allowed customers to loan their digital assets to crypto firm Genesis as a means of earning interest, is “absurd” and contradictory. “The SEC is floundering. They can’t even decide what the security is. On the one hand, they claim that the loan agreement was a security. On the other hand,…

5 strategies to mitigate side channel attacks on cryptocurrency hardware wallets

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Cryptocurrency hardware wallets have emerged as a trusted solution for securing digital assets against online threats. However, even these seemingly impenetrable devices are not immune to attacks. Side-channel attacks, which exploit unintended information leakage from the physical implementation of a system, pose a significant risk to the security of cryptocurrency hardware wallets.  This article will delve into the world of side-channel attacks, explore their potential dangers, and outline five effective strategies to mitigate them and protect your valuable crypto holdings. Understanding side-channel attacks Side-channel attacks target the physical implementation of…

U.S. Securities and Exchange Commission Inches Closer to Appealing the XRP Decision in Ripple Lawsuit

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The U.S. Securities and Exchange Commission (SEC) is getting closer to filing an appeal on their recent partial defeat in their lawsuit against Ripple. James K. Filan, a defense lawyer and crypto legal expert, notes that District Judge Analisa Torres has set a briefing schedule for “the SEC’s request to file a motion for leave to file an interlocutory appeal.” “This does not mean an interlocutory appeal has been authorized. It just means the SEC is allowed to request it.”  Torres says in her order that the SEC should file…

Bitget Adds ClearLoop for Off-Exchange Settlement

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The cryptocurrency exchange Bitget announced today (Friday) that it has integrated Copper’s ClearLoop network. This collaboration introduces off-exchange settlement Settlement Settlement in finance refers to the process when a buyer makes payment and receives the agreed-upon services or goods. The term is used on exchanges such as New York Stock Exchange (NYSE) when security changes hands. When the asset is transferred and placed in the new buyer’s name, it is considered settled. This process could take a few hours or several days after a trade is made. It depends on…

Strict Canadian crypto exchange rules allowed Kraken clarity to invest there, exec says

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Size and energy allowed Kraken to stay in Canada after the imposition of new registration requirements for crypto exchanges in February. But in spite of the demanding process, the regulatory clarity has benefited the company, Kraken managing director for Canada Mark Greenberg said. Speaking to Cointelegraph’s Sam Bourgi at the Blockchain Futurist Conference in Toronto, Greenberg had positive things to say about the Canadian regulatory environment: “The Canadian regulators have been collaborative, helpful. […] There’s a clear regulatory pathway. It’s allowed us to invest in the country.” Kraken has a…

3AC founders fined by Dubai regulator over OPNX exchange

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The founders of the collapsed digital asset hedge fund Three Arrows Capital (3AC) Kyle Davies and Su Zhu are now facing a fine issued by Dubai’s dedicated crypto regulator over the OPNX exchange.  On Aug. 16, Dubai’s Virtual Asset Regulatory Authority (VARA) published a notice of fines for the OPNX Exchange. The regulator said that it has issued a fine of 10 million dirhams, around $2.7 million for violations of its market regulations, and noted that the fine remains unpaid. Excerpt of the document posted by Dubai’s crypto regulator. Source:…