Category: Exchanges

Hong Kong to Release Crypto Exchange Licensing Guidelines on May

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The Hong Kong Securities Futures Commission (SFC) is expected to be publishing licencing requirements for cryptocurrency exchanges in May. The proposals were revealed on April 27 by Bloomberg, who quoted remarks made on Thursday by Julia Leung, the chief executive of the SFC. According to Bloomberg, Leung claimed that over 150 interested parties responded to the licencing regime’s consultation process. Leung was likely responding to a report from February 20 that highlighted regulatory obligations for Know Your Client (KYC) and Anti-Money Laundering (AML). The upcoming regulations will assist cryptocurrency trading platforms that,…

WisdomTree CEO Jonathan Steinberg Says Crypto Is “Natural Evolution” of Exchange-Traded Products

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The wallet will enable trading of tokenized real-world assets such as gold or real estate, said Steinberg. And he sees this as a huge advantage to holders of illiquid assets: “We thought through tokenization and blockchain-enabled finance that you could add functionality … When you put tokenized, physically backed gold with peer-to-peer exchange and payments, gold now becomes currency, like it was hundreds of years ago.” Source

US Man Pleads Guilty to Defrauding Banks and “Leading Crypto Exchange” of over $4M

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Twenty-six-year-old Esteban Cabrera Da Corte, the leader of a Miami crew, has pleaded guilty to defrauding US banks and “a leading cryptocurrency exchange Read this Term” of over $4 million through fraudulent reversals. US prosecutors on Wednesday said Da Corte deployed false and stolen identities to perpetrate the scheme. According to Damian Williams, the US Attorney for the Southern District of New York, Da Corte and his co-conspirators in around March 2020 opened various accounts with an unnamed crypto exchange using fake US passports, drivers’ licenses and stolen personally identifying…

Cathie Wood’s ARK Invest Accumulates More Coinbase Stock (COIN) As Crypto Exchange Goes Against SEC

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Cathie Wood’s ARK Invest added more than 157,000 Coinbase (COIN) shares this week as the top US crypto exchange goes on the offensive against the U.S. Securities and Exchange Commission (SEC). On Monday, three of ARK Invest’s funds made separate purchases of COIN shares worth a combined $6.98 million at time of writing. Coinbase shares currently make up 4.74% of ARK’s combined portfolio. The three funds’ estimated cost averages for COIN are $239.60, $254.65, and $242, all of which are far greater than Coinbase’s current share price, which currently sits…

Ripple’s XRP Token Plummets to $.001 on Bitrue Exchange, Leaving Traders Bewildered

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Ripple’s XRP token momentarily plummeted to $0.001 on the Bitrue cryptocurrency exchange today. The sudden decrease in value has caught the attention of many in the industry. The unexpected decline of XRP has resulted in all traders and investors on the Ripple network experiencing an abrupt liquidation of their investments. This sudden fluctuation in value has raised questions about the cause of the drop. Some speculate that it was due to a technical glitch, while others suggest it could be a problem with the exchange itself. Bill Morgan has claimed…

Decentralized Exchange Vertex Launches on Ethereum Layer 2 Arbitrum (ARB) Blockchain

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Vertex, which had been operating on a test network, combines an off-chain order book layered on top of an on-chain automated market maker on a decentralized, self-custodial exchange. The firm, which has bases in Singapore and the Cayman Islands, counts Jane Street, Dexterity Capital, Hudson River Trading, GSR, Collab+Currency, JST Capital, Big Brain and Lunatic Capital among its early backers. Source

FTX sells LedgerX for $50M to affiliate of Miami-based exchange holding company

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FTX announced that it has entered into a purchase agreement with an affiliate of Miami International Holdings to sell its futures and options exchange and clearinghouse LedgerX.  FTX said in a statement that the total proceeds of the transaction would total about $50 million. The deal still requires the approval of the United States Bankruptcy Court for the District of Delaware. A hearing on the deal is set for May 4. FTX stated it reached a deal with M7 Holding, a family private equity investment firm based in Akron, Ohio.…

Algorand Foundation Among Creditors That Oppose Restructuring of Trouble Crypto Exchange Hodlnaut

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Joint Effort: OFAC and South Korea Crack Down on North Korea’s Cryptocurrency Scam

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The Department of Foreign Assets Control (OFAC) and South Korea have joined forces to impose sanctions on three individuals who were accused of providing material support to the North Korean-based Lazarus hacking group. The accused individuals allegedly helped convert stolen crypto assets to fiat currency, which was then used to fund North Korea’s development of weapons of mass destruction (WMD) and ballistic missile programs. According to OFAC’s report, the Lazarus Group is involved in illicit financial and cyber activities that support North Korea’s WMD and ballistic missile programs. The group…

Decentralized exchange GMX votes to use Chainlink low-latency oracles

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Chainlink’s (LINK) low-latency oracles will integrate with the decentralized exchange (DEX) GMX following a successful governance proposal that sought to provide more “granular” real-time market data to GMX v2. Voting ended on April 25 at 12:00 am UTC, with over 96% of participating GMX tokenholders voting in favor of the proposal. The new Chainlink oracles — which were built with the input of GMX core contributors — were brought in to improve upon the functionality of perpetual DEXs and price-sensitive trading on GMX, the author of the proposal explained. The…