Upbit bucked the general market trend, witnessing a 42.3% increase in trading volume to $29.8 billion, pushing the exchange beto the second-largest platform by trading volume, after Binance. Coinbase was previously the second largest crypto exchange by trading volume. Source
South Korean cryptocurrency exchange Upbit overtook both Coinbase and OKX in terms of spot trading volume in July for the first time, according to data published on Aug. 3 from CCData. Spot trading volume on Upbit rose in the month of July by 42.3%, up to $29.8 billion. Coinbase and OKX, on the other hand, saw their own volumes fall by 11.6% and 5.75%, bringing them in at $28.6 billion and $29.0 billion, respectively. This latest shift in the market now places Upbit after Binance as the second-largest exchange by…
The total volumes generated from spot and derivatives trading activities on centralized exchanges (CEXs) slumped by 12% to $2.36 trillion in July, hitting the lowest monthly trading volume recorded this year, so far. The figures are based on the latest exchange review report by CCData, a digital assets data provider. 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! Specifically, spot trading volume sank by 10.5% to $515 billion, the second-lowest volume generated since March…
A legion of Twitter bots pumped the price of crypto tokens traded by Sam Bankman-Fried’s quant trading firm Alameda Research shortly after FTX listed the tokens, according to a report from the Network Contagion Research Institute. NCRI, an institution that studies cybersecurity and social-media threats, published a report on Wednesday that shows that “inauthentic chatter” on Twitter, now X, heavily influenced the prices of five FTX-listed tokens traded by Alameda insiders. The coins were BOBA, GALA, IMX, RNDR and SPELL. Fake tweets regarding the coins surged — by as much…
Israel is set to introduce more regulated cryptocurrency opportunities, with the country’s only public stock exchange preparing to offer new crypto services. Tel Aviv Stock Exchange (TASE) has signed an agreement with the digital asset platform Fireblocks to jointly offer a range of new digital asset products and services. Announcing the news on Aug. 1, TASE noted that the new partnership will enable the stock exchange to provide institutional-grade digital asset solutions for regulated entities. The collaboration is designed to combine TASE’s experience and presence in the Israeli market with…
“Since October, I haven’t got any tokens so it was very fair for me to sell,” he said in an interview, adding that before the listing, he received 7.5 million tokens and 1.3 million of them he sold on Bitget. He was also selling some on two other exchanges, MEXC and Gate, he added, and those two had zero problem with that. Source
Hong Kong is expanding cryptocurrency trading exposure to individual investors, with at least one exchange getting the regulatory green light to offer such services. Local digital asset firm HashKey has successfully obtained all necessary licensing to expand its business from serving professional investors to taking on retail users. HashKey’s new regulatory milestone has been enabled through the upgrade of two major licenses issued by Hong Kong’s Securities and Futures Commission (SFC). The first license, known as Type 1, allows HashKey to operate a virtual asset trading platform under Hong Kong’s…
“As an existing Type 1 and Type 7 licenses holder, HashKey Exchange successfully underwent a simplified process to obtain the licence upgrade … to expand its business scope from serving professional investors to retail users, fulfilling market demand for a licensed platform that offers users a safer and simpler process for buying and storing cryptocurrencies.” the exchange said. Source
The bankrupt crypto exchange FTX has submitted a draft reorganization plan to the courts to pay back creditors. The draft plan, filed with a US bankruptcy court on Monday, calls for scrapping claims based on holdings of the disgraced company’s native token, FTT. The draft says the FTT-based claims against the exchange should be dropped due to the “equity-like characteristics” of its native token. It also calls for canceling any other equity interests. FTX plans to pay back other debtors and customers in cash. The company’s CEO, John J. Ray…
Binance’s founder and CEO, Changpeng Zhao, has considered shuttering the US affiliate of the crypto exchange earlier this year to protect the broader global operations, according to a report by The Information. However, Zhao’s decision was blocked by Brian Shroder, CEO of Binance.US. 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! Though officially not confirmed, the board of directors of the US unit of Binance voted on the proposal to close the company. Though…