Category: Exchanges

US crypto exchange Bittrex faces potential action from SEC: Report

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The United States-based cryptocurrency exchange Bittrex is reportedly facing potential action from the U.S. securities regulator despite preparing to shut down local operations. The enforcement division of the U.S. Securities and Exchange Commission (SEC) is inclined to recommend the agency sue Bittrex over alleged violations related to investor protection, The Wall Street Journal reported on April 16. The enforcement unit informed Bittrex about potential action from the SEC in March, Bittrex’s general counsel David Maria reportedly said. By that time, the Seattle-based crypto firm had already started the process of…

22,550,000,000 Shiba Inu and Other Crypto Assets Stolen From Bitrue Exchange in Massive Hack: PeckShield

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Tens of billions of Shiba Inu (SHIB) tokens and other digital assets have been stolen from crypto exchange Bitrue in a massive multi-million-dollar exploit. In a new announcement, Bitrue says that hackers were able to exploit a hot wallet to steal about $23 million worth of crypto assets, including Ethereum (ETH), and ERC-20 tokens such as meme asset SHIB, interoperable blockchain Quant (QNT), metaverse gaming platform Gala (GALA), layer-2 scaling solution Polygon (MATIC) and decentralized application (DApp) marketplace Holochain (HOT). “We have identified a brief exploit in one of our…

Zipmex’s Investor Requests Fractional Debt Payment, Creating Challenges for Crypto Exchange’s Rescue Plan

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Zipmex’s investor is requesting to pay only a fraction of the crypto exchange’s debt, contradicting their previous pledge to make a full payment. This new proposal, which is between 10 to 20 percent of the owed amount, poses challenges for the company’s rescue plan. As a result, Zipmex is seeking to extend its creditor protection to attract new investors. According to a letter sent to the crt overseeing Zipmex’s restructuring, the investor seeks to reduce the payment because the company failed to meet the conditions stated in the initial buyout…

Top Crypto Analyst Updates Outlook on Bitcoin (BTC) and Ethereum (ETH), Issues Warning on Exchange Coin

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A widely followed crypto trader says Bitcoin (BTC) is showing signs of upward continuation after Ethereum’s (ETH) highly-anticipated upgrade. Crypto analyst Michaël van de Poppe tells his 653,200 Twitter followers that the crypto markets are in slow continuation after ETH initially dipped yesterday on the launch of the Shanghai upgrade. “Waking up after a massive crash on ETH after the Shanghai upgrade, it feels different. However, Bitcoin at $30,000 is a good sign. Slow continuation.” With ETH’s price dip yesterday being minimum and ETH currently up 4.07% in the last 24 hours,…

Collapsed Exchange FTX Recovers $7,300,000,000 in Cash and Crypto Assets, Reconsiders Future: Report

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Troubled crypto exchange FTX has reportedly recovered billions of dollars worth of cash and assets as it reconsiders its future. According to a new report by Reuters, the bankrupt crypto-swapping platform has recuperated $7.3 billion in cash and liquid digital assets as the firm considers how to move forward from its catastrophic downfall last year. FTX attorney Andy Dietderich told Reuters the situation has stabilized and that the worst is over, further adding that FTX has greatly benefited from rising crypto prices in 2023. According to Dietderich, the amount recovered…

London Stock Exchange may provide clearing services for BTC derivatives starting in Q4

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The United Kingdom could see its first centrally cleared trading venue for digital asset derivatives due to a partnership between a London Stock Exchange Group (LSEG) business and trading startup Global Futures and Options (GFO-X). They intend to launch the service in the fourth quarter of this year. According to an April 11 announcement, LCH SA, the Paris-based subsidiary of the LSEG clearinghouse, is set to provide clearing services for dollar-denominated, cash-settled Bitcoin (BTC) index futures and options contracts traded on the GFO-X venue. The plan still requires regulatory approval.…

DeFi Exchange Uniswap Launches Uniswap Mobile Wallet

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The Uniswap mobile wallet will allow users to buy cryptocurrencies for fees as low as 2.55%, nearly half what some competing DeFi protocols charge, Uniswap said in the release. Users can also swap funds on popular DeFi platforms, including Polygon, Arbitrum and Optimism. The wallet features in-app token price and NFT data, allowing users to favorite tokens and wallet addresses so they can track the trading activity that matters most to them. Source

Man Charged in Coinbase Insider-Trading Scheme To Pay the US Exchange $469,525.50 in Restitution

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One of the perpetrators in the first-ever crypto insider trading case is required to pay digital asset exchange Coinbase in addition to serving jail time. A New York District Court filing signed by Judge Loretta A. Preska on April 6th orders Nikhil Wahi, brother of former Coinbase product manager Ishan Wahi, to pay the exchange $469,525.50 in restitution while serving his sentence behind bars. “The defendant shall make installment payments toward restitution and may do so through the Bureau of Prisons’ (BOP) Inmate Financial Responsibility Plan (IFRP). Any unpaid amount…

Crypto exchanges set calendar for unstaking

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Ethereum mainnet successfully completed the Shapella upgrade on April 12. The successful execution of the Shapella upgrade means Ethereum validators can finally withdraw their staked Ether on the Beacon chain. A total of 126,955.07 ETH were withdrawn by validators at the time of writing. Presently, 248,043 out of the 559,549 active validators, or about 44% of them, have the ability to request a partial or full withdrawal. The majority of withdrawals currently vary between 2.8- 3.2 ETH, indicating the majority of the validators are only withdrawing their staking rewards. Total…

Attorney of FTX Said Exchange Could Reopen; Recovers Over $7.3 Billion in Assets

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In a court hearing on Wednesday, Sullivan & Cromwell, the solicitors for crypto exchange FTX, said the company is contemplating reopening in the future while it deals with bankruptcy. Allowing FTX’s creditors to convert a portion of their ownership into a stake in a reopened exchange was one possible solution that was proposed. The exchange’s relaunch was one of many potential possibilities being evaluated for the company’s future, lead FTX attorney Andy Dietderich told the court. If that course of action goes ahead, according to Dietderich, the plan will need to…