Category: Exchanges

Bankrupt FTX Initiates Early Talks on Crypto Exchange Relaunch: Report

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Bankrupt digital asset exchange FTX has kicked off initial discussions with potential investors as part of efforts towards relaunching the cryptocurrency trading platform, Wall Street Journal reported on Wednesday, citing John J. Ray III, the exchange’s new Chief Executive Officer. Explore limitless, instant crypto swaps. Choose from 1000+ coins and tokens and exchange with no registration or sign-up. Experience a platform that prioritizes your data privacy and fund security. According to the American publication, FTX is considering floating a rebranded entity operated through various structures, including as a joint venture.…

Bitcoin miners send record $128M in revenue to exchanges

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Bitcoin (BTC) miners are sending record amounts of BTC to centralized crypto exchanges. In a June 27 tweet, on-chain analytics platform Glassnode reported an all-time high in Bitcoin miner revenue sent to exchanges. Percent of miner revenue sent to exchanges. Source: Glassnode. It noted that there was currently an “extremely high exchange interaction,” from Bitcoin miners which had sent a record $128 million to exchanges over the past week. This is equivalent to 315% of their daily revenue, the analytics platform noted. There have been several spikes in miner revenue…

$1,400,000,000 in Bitcoin and Ethereum Yanked Out of Crypto Exchanges As Large Players Return: IntoTheBlock

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A leading analytics firm says that over a billion dollars worth of Bitcoin (BTC) and Ethereum (ETH) have been taken off crypto exchanges amid a resurgence in buying activity. In a new report, IntoTheBlock reveals that the two leading cryptocurrencies witnessed exchange net outflows to the tune of $1.4 billion last week. Exchange netflows is a metric that calculates the total flows of an asset going in and out of exchanges. According to IntoTheBlock, the surge in net outflows last week could largely be attributed to BlackRock’s filing for a…

Notorious Hacker PlugwalkJoe Sentenced to Five Years for Cryptocurrency Theft and Twitter Hack

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British hacker Joseph O’Connor, widely known as PlugwalkJoe in the online realm, has been sentenced to five years in a United States prison. O’Connor’s conviction stems from his involvement in a high-profile cryptocurrency theft, where he managed to steal approximately $794,000 worth of digital assets through a SIM swap attack on a cryptocurrency exchange executive back in April 2019.   The renowned hacker was apprehended in Spain in July 2021 and was subsequently extradited to the United States on April 26, 2023. In May, he pleaded guilty to an array…

Old-School Bitcoin Hard Fork Altcoin Pumps by 82% This Week Amid Support From New Wall Street-Backed Exchange

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An old-school Bitcoin (BTC) hard fork altcoin is making headlines this week after a listing on a brand new crypto exchange sent the asset’s price soaring. Bitcoin Cash (BCH), which was spun off from Bitcoin in 2017, is up 41% in the past 24 hours and more than 62% in the past week. The 20th-ranked crypto asset by market cap is trading at $195.51 at time of writing. BCH was one of four crypto assets to receive support from the newly launched digital asset marketplace EDX Markets. The new exchange…

ETF Provider Primed To Launch First Leveraged Bitcoin Futures Exchange-Traded Fund in the US

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An exchange-traded fund (ETF) provider in the United States is reportedly close to launching a first-of-its-kind Bitcoin (BTC) fund. Volatility Shares, an ETF provider based in Mt. Kisco, New York, will start offering the “2x Bitcoin Strategy ETF” (BITX) next Tuesday, June 27th, according to the company’s website. Volatility Shares says the product is the first US-based ETF to offer leveraged long exposure to the cryptocurrency futures market. Explains the company, “BITX will seek daily investment results, before fees and expenses, that correspond to two times the return of the…

Ether price eyes $3K as exchanges’ ETH balances drop to an all-time low

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Ethereum’s on-chain movements indicate bullish pressure building around Ether as its exchange balances reached an all-time low and staking deposits keep surging.  Ether’s (ETH) technical charts suggest that the asset can reclaim $3,000 if buyers are able to push above the resistance between $1,900 and $2,000. ETH held on exchanges hits an all-time low Exchange balances for ETH reached a new low of 12.6%, dropping sharply in the last 30 days, according to Glassnode data. Reduced supply on exchanges is usually a bullish sign, as it means fewer tokens are…

The race for a Bitcoin spot ETF, Wall Street’s new crypto exchange, and other news

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The bid for the first Bitcoin (BTC) spot exchange-traded fund (ETF) in the United States is gaining traction following BlackRock’s recent application, with both former applicants and new players seeking permission from the U.S. Securities and Exchange Commission (SEC) to list a crypto ETF. Although it’s unclear whether the SEC will finally allow a Bitcoin ETF, BlackRock’s initiative appears to have “breathed new life into the race” amid the ongoing crackdown on the crypto industry. Other headline news includes Wall Street titans backing a newly launched crypto exchange despite the…

The Emergence of Cryptocurrency-Backed Loans and Lending Platforms

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Because of their potential for large profits and decentralized nature, cryptocurrencies have attracted the attention of investors and enthusiasts all around the world. As the bitcoin ecosystem evolves, new financial services and platforms to harness these digital assets emerge. Cryptocurrency-backed loans and lending platforms are one example of such innovation. In this article, we will look at the rise of cryptocurrency-backed loans and lending platforms, the benefits they provide, and the ramifications for borrowing and lending in the future. Bitcoin-backed loans are a sort of loan in which individuals can…