Category: Exchanges

Binance CEO Changpeng Zhao Says Crypto Industry Needs More Decentralized Exchanges

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The chief executive of the world’s largest crypto exchange platform by volume says that the crypto industry needs more decentralized exchanges (DEXes). In a recent thread, Binance CEO Changpeng Zhao says that even though DEXes can be flawed and he runs a massive centralized crypto exchange (CEX), he believes decentralized crypto swapping platforms are exactly what the industry needs. “We need more DEXs. PancakeSwap has most of the users. Uniswap has most of the TVL [total value locked]. That’s still ‘too centralized’… (I know, imagine that coming from me.) Need…

Cryptocurrency Exchange Hacks and Insurance: Risks, Coverage, and Limitations

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Individuals and institutions are increasingly using cryptocurrency exchanges to purchase, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. However, the rise of cryptocurrency exchanges has also resulted in an increase in security risks and hacks, with several high-profile exchanges falling prey to cyberattacks resulting in the loss of millions of dollars in cryptocurrency. We will look at the risks, coverage, and limitations of cryptocurrency exchange insurance in this piece. The Dangers of Cryptocurrency Exchange Hacks The possibility of cyberattacks and hacks is one of the most serious risks…

Justin Sun Refutes Claims of Huobi Exchange Stake Sell

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The rumours that crypto mogul and Tron founder Justin Sun is thinking about selling his stake in the major cryptocurrency exchange Huobi have been refuted. As much as I love a good April Fool’s Day prank, I must deny the report that @HuobiGlobal is seeking a stake buyer. Rest assured, Huobi is committed to providing our users with a safe, reliable, and innovative platform for trading and investing in cryptocurrency. ❤️ — H.E. Justin Sun 孙宇晨 (@justinsuntron) April 1, 2023 The information was revealed following a Bloomberg story that, according…

IG Group Acquires Small Exchange from Crypto.com’s Parent

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IG Group, a London-headquartered spread betting and CFD trading provider, has entered into an agreement to acquire futures exchange, Small Exchange, from Foris DAX Markets, the parent company of Crypto.com. The deal comes a year after the holding group completed the sale of its 39% stake in the Chicago-based exchange. In December 2021, IG Group agreed to sell its subsidiary North American Derivatives Exchange (NADEX) as well as Small Exchange, noting that the deal “delivers a significant return” on the previous investments made in these entities and “enables additional investment…

KuCoin Wallet spins off from KuCoin exchange, renames as Halo Wallet

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Decentralized wallet KuCoin Wallet announced on Apr. 3 that it has rebranded as Halo Wallet and launched a new SocialFi ecosystem. According to the announcement, the newly independent Halo Wallet received a fresh round of financing from several investors, including KuCoin Ventures, IDG, HashKey Capital, and other Web3 strategic partners.  1/ We’re thrilled to announce that #KuCoinWallet has officially rebranded to Halo Wallet! With a brand new name, new logo, new UI, new roadmap,  #HaloWallet is ready to innovate the next stage of #Web3 social #crypto wallet! Learn more⬇️https://t.co/GoYVvKdYoi — Halo…

FSA Reprimands Bybit and Other Foreign Crypto Exchanges for Illegal Operations in Japan

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The Japanese Financial Services Agency (FSA) has issued a warning letter to foreign crypto exchanges Bybit, BitForex, MEXC Global, and Bitget, stating that they are operating in the country without proper registration. According to the FSA, these exchanges have violated the country’s fund settlement laws by conducting crypto asset exchange business without registration. The regulator also noted that the list of unregistered traders does not necessarily indicate the current state of unregistered business. While Japan is working on new regulations for the crypto and Web3 sectors, it has not been…

Crypto Custodian Copper to Provide Off-Exchange Settlement to OKX Customers

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“The continual inflow of institutional volume to Copper’s ClearLoop demonstrates the industry’s drive to meet high standards for asset security and trading,” Copper CEO Dmitry Tokarev said in the statement. “OKX is an essential trading venue for institutional investors, who will now be able to manage their assets efficiently thanks to the ClearLoop integration,” he added. Source

Messi-Endorsed Crypto Exchange Bitget Has Been Flagged by Japan

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Japan’s Financial Services Agency (FSA) has warned against four foreign cryptocurrency exchanges supposedly operating in the country without local registration. These exchanges are Bybit, BitForex, MEXC Global, and Bitget. According to the FSA notice issued last Friday, all four named cryptocurrency exchanges are in violation of the country’s fund settlement laws as they conducted “crypto asset exchange business without registration.” The regulatory warning further highlighted that having a list of unregistered traders “does not necessarily indicate the current state of unregistered business.” Bybit is a big name when it comes…