Category: Exchanges

Gemini and Genesis Set To Enter 30-Day Mediation Process To Reach Final Resolution for Exchange’s Earn Users

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Gemini crypto exchange has entered into a 30-day mediation process with bankrupt crypto broker Genesis and its parent company Digital Currency Group (DGC) to find a resolution for Gemini Earn users who lost their assets when the broker went under. Court filings indicate that the firm owes more than $3.8 billion to its largest 50 creditors, including Gemini. Genesis initially filed for bankruptcy in January. Genesis and the exchange had collaborated to create Gemini’s Earn program, which allowed retail investors to loan out their digital assets to earn interest. Genesis owes…

SEC Hits Crypto Exchange Coinme With $4,000,000 in Fines for Alleged Securities Fraud

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The U.S. Securities and Exchange Commission (SEC) is settling securities fraud allegations levied against the Seattle-based company Coinme Inc. for $4 million in penalties. According to an SEC announcement, the US securities regulator accuses Coinme, its subsidiary Up Global and Neil Bergquist, the CEO of both entities, of violating securities law for selling the digital asset UpToken (UP). The SEC also accuses Bergquist and Up Global of making false and misleading statements regarding the demand for UpToken and the amount raised in the initial coin offering (ICO). The terms of…

Coinbase Launches International Crypto Derivatives Exchange

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Coinbase has launched a global cryptocurrency derivatives exchange days after disclosing that it was going offshore with a Bermuda license. The US-based digital asset exchange said the new platform is only open to only eligible, non-US institutional traders. The new platform on Tuesday listed Bitcoin (BTC) and Ether (ETH) perpetual futures contracts, Coinbase said in a blog post, adding that the platform currently only offers 5x leverage, with all trades settled in stablecoin USD Coin (USD). It’s official! Coinbase International Exchange is here. Institutional traders in eligible non-US jurisdictions now…

Coinbase International Exchange launches amid SEC crypto crackdown in the US

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As the cryptocurrency industry faces regulatory challenges in the United States, public crypto exchange Coinbase is moving forward with a global derivatives platform. On May 2, Coinbase announced the launch of the Coinbase International Exchange (CIE), a new institutional platform designed for crypto derivatives trading. The CIE will start trading by listing Bitcoin (BTC) and Ether (ETH) perpetual futures later this week. All trading on the CIE will be settled in Coinbase-backed stablecoin USD Coin (USDC), requiring no fiat on-ramps. Coinbase stressed that direct access trading on CIE is available to…

DCG-owned crypto exchange Luno loses a top global exec

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DCG, Luno’s parent company, has been grappling with the ongoing fallout from last year’s plunge in token prices and the collapse of FTX. Rafael Henrique | Sopa Images | Lightrocket via Getty Images Vijay Ayyar, a senior executive at cryptocurrency exchange Luno and one of its earliest employees, is leaving the company. Ayyar, who is Luno’s vice president of corporate development and international, resigned from the firm after seven years working there, he told CNBC Tuesday. It comes after the company, which is owned by Digital Currency Group, announced the…

Revolutionizing smart contracts and cryptocurrency

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With the advent of readily available artificial intelligence (AI) applications such as ChatGPT, we are ushering in a new era of rapid improvements in blockchain-based smart contracts. This convergence of innovative technologies will transform industries and pave the way for unprecedented levels of contract development, automation and efficiency. Blockchain’s decentralized ledger technology powering cryptocurrencies like Bitcoin and Ethereum has gained widespread attention for its unparalleled ability to promote transparency and trust among network participants. Simultaneously, AI has made incredible strides in natural language processing (NLP), machine learning (ML) and data…

Top Crypto Exchange Binance Rolls Out New Dogecoin (DOGE) Trading Pair As Leading Memecoin Tracks Sideways

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The world’s largest crypto exchange by volume has launched a new trading pair for Dogecoin (DOGE) as the top memecoin continues to consolidate. Binance customers can now swap DOGE with the stablecoin TrueUSD (TUSD). TUSD, which aims to maintain a 1:1 peg to the US dollar, is the fifth-largest stablecoin by market cap. Dogecoin is trading at $0.0806 at time of writing. The ninth-ranked crypto asset by market cap is up 0.25% in the past 24 hours, 2.7% in the past seven days, and more than 7% in the past…

Dark Web Drug Dealer Ordered to Surrender Millions in Cryptocurrency by UK Authorities

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A drug dealer who used the dark web to supply drugs and was paid in cryptocurrency will be required to forfeit his ill-gotten gains to authorities. Simon Barclay, a resident of Huddersfield, was sentenced last year to prison for peddling heroin and cocaine and then mailing them to buyers throughout the UK. The drug dealer received cryptocurrency worth £5.85 million when he was detained, which he subsequently used to build up his wealth. According to the Proceeds of Crime Act, he has been ordered to repay more than £4.9 million…