Category: Exchanges

Bankrupt Crypto Exchange FTX Plans Dramatic Comeback with FTX.com Relaunch

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After facing a high-profile collapse last year, bankrupt crypto exchange FTX is determined to make a comeback and revive its international platform, FTX.com. Despite the challenges posed by increased regulatory scrutiny, FTX is forging ahead with its plans under the leadership of CEO John J. Ray III, who took charge in November 2022 when the exchange filed for bankruptcy. The Wall Street Journal has confirmed that FTX has begun the process of soliciting interested parties to support the relaunch of FTX.com. The firm is engaging potential investors and exploring options…

Cboe’s BZX Exchange Names Coinbase for Surveillance-Sharing Agreement in Refiled Spot Bitcoin ETF Applications

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Cboe’s BZX Exchange has identified crypto exchange Coinbase as the designated market for its surveillance-sharing agreement. The exchange recently refilled its ETF applications on behalf of several aspiring bitcoin ETF issuers, including Fidelity, WisdomTree, VanEck, ARK Invest, Galaxy/Invesco, and BlackRock, media reports said. These companies hope to bring a spot bitcoin ETF that the U.S. Securities and Exchange Commission (SEC) has previously rejected for years. While BlackRock has filed its spot bitcoin ETF with Nasdaq, the other firms are collaborating with Cboe. On Friday, the SEC informed both Nasdaq and…

Lawmakers in Canada Push Government To Promote Use of Blockchain and Cryptocurrency

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Canadian lawmakers from the House of Commons say that the government should embrace blockchain technology and crypto following a comprehensive study of the digital assets industry. In a new report, the members of the Standing Committee on Industry and Technology say that the testimonies they gathered indicate that blockchain technology is already changing the digital landscape of Canada. They also recommend that the government recognize blockchain as an emerging industry that offers significant long-term economic and job creation opportunities. “The Committee heard about the real contributions that blockchain technology is…

Former Genesis Trading CEO Michael Moro to Lead Groundbreaking Cryptocurrency Derivatives Exchange, Ankex

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Michael Moro, the former CEO of Genesis Trading, is set to lead Ankex, a newly established cryptocurrency derivatives exchange. Ankex, which emerged from the incubation phase within Qredo, a crypto custody tech firm, will commence alpha testing this week. The platform aims to provide users with a decentralized custody solution while incorporating features familiar to professional traders, such as a central limit order book. Following the recent collapses of centralized crypto-trading platforms like FTX, there has been a growing interest in decentralized finance (DeFi). However, Moro highlights that the trading…

Israel Seizes Millions of Dollars Worth of Cryptocurrency Belonging to Its Enemies: Report

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The Israeli government says it has seized millions of dollars worth of cryptocurrency from accounts allegedly tied to financing two enemy groups. According to a new Associated Press report, Israeli Defense Minister Yoav Gallant issued the order for the seizure of cryptocurrency wallets and the transfer of millions of dollars worth of digital assets to the Israeli government. The wallets were allegedly associated with financial schemes tied to groups sworn to destroy Israel, the Hezbollah militant group and the Iranian paramilitary Revolutionary Guard’s elite Quds Force. Israel’s Mossad spy agency,…

Coinbase Files Motion To Dismiss SEC Case Against the Crypto Exchange

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Top US-based crypto exchange Coinbase is filing a motion to dismiss the U.S. Securities and Exchange Commission’s (SEC) lawsuit against it. The SEC sued Coinbase earlier this month alleging that the platform was selling unregistered securities after it dubbed a number of crypto assets, such as Cardano (ADA), Solana (SOL), and Polygon (MATIC), as securities. However, Coinbase recently filed a motion with the Southern District of New York to dismiss the lawsuit, saying that the regulatory body lacks jurisdiction. In the filing, Coinbase argues that its transactions don’t qualify as…

Bitcoin speculators send 35K BTC to exchanges in new ‘elation inflow’

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Bitcoin (BTC) short-term holders are feeling the need to sell BTC at $30,000, data shows. In research released on June 28, on-chain analytics firm Glassnode flagged tens of thousands of coins being sent to exchanges. Bitcoin speculative exchange moves “intensifying” BTC price action stalling at $30,000 is prompting a rethink when it comes to buyers who have turned a profit this month. In particular, short-term holders (STHs) — those entities hodling funds for 155 days or less — are becoming increasingly keen sellers. Monitoring inflows to exchange wallets, Glassnode revealed…

Former NYSE Broker Ordered to Pay $54 Million in Cryptocurrency Fraud Case

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Former New York Stock Exchange (NYSE) broker has been directed by a federal court to pay a staggering $54 million in damages and penalties for orchestrating a fraudulent cryptocurrency trading scheme. The U.S. Commodity Futures Trading Commission (CFTC) has announced that Michael Ackerman, an Ohio resident, has been banned from participating in any markets under the watchdog’s supervision as per the ruling issued by a judge at the Southern District of New York court. The CFTC’s case against Ackerman, who was initially charged in 2020, involves accusations of defrauding approximately…

Bankrupt Crypto Exchange FTX Recovers $7,000,000,000 in Liquid Assets With More To Come

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A new report is revealing that beleaguered crypto trading platform FTX has so far recovered billions of dollars in assets. The report says that the bankrupt crypto exchange has recovered $7 billion and expects to claw back even more. According to the new report, the global FTX platform owes its clients about $8.7 billion. “Based on the Debtors’ ongoing analysis, as of the petition date, the FTX.com exchange owed customers approximately $8.7 billion. The vast majority of the deficit—over $6.4 billion—was in the form of fiat currency and stablecoin that…