Category: Exchanges

Kraken Crypto Exchange Sponsors Williams Racing F1 Team

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Williams Racing and Kraken, a popular crypto platform, announced a global partnership ahead of the Australian Grand Prix in Melbourne. This marks Kraken’s first-ever official crypto and Web3 partner of the Formula 1 (F1) team. According to a press release published on Willaims F1’s official website, throughout the rest of the 2023 FIA Formula One World Championship season, Kraken’s logo will be prominently displayed on the FW45 racing car halo and rear wing. Additionally, the branding will be featured on driver racing attire and team headwear. In addition to the…

Singaporean Women Outpacing Men in Cryptocurrency Trading, Report Shows

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According to the Independent Reserve Cryptocurrency Index Singapore 2023 report, women in Singapore are slightly more likely than men to profit from their cryptocurrency investments or at the very least break even. In February, 1,500 average Singaporeans participated in the Independent Reserve Cryptocurrency Index (IRCI) survey, which asks participants about their sentiments on cryptocurrencies. The survey results stated 76% of women said they had either made money or broken even on their cryptocurrency investments — as opposed to only 72% of men. It stated that this is the first time…

Native Token for New Crypto Exchange Launched by 3AC Founders Goes Parabolic After Being Listed on SushiSwap

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An Ethereum-based altcoin has outperformed most of the crypto markets over the last week as the founders of bankrupt hedge fund Three Arrows Capital (3AC) gear up to launch their own exchange. FLEX Coin (FLEX) is the native token of CoinFLEX, a crypto exchange that has recently undergone restructuring and is set to have its assets acquired by OPNX, an exchange launched by 3AC founders Su Zhu and Kyle Davies. OPNX aims to be the first crypto exchange that allows for the trading of bankruptcy claims while also providing standard…

OKX Becomes Another Crypto Exchange to Start HK Branch

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The number of big cryptocurrency brands looking to enter the Hong Kong market continues to grow. All thanks to new regulations on digital assets, which are set to take effect in June and make China’s special administrative region a crypto enclave. OKX, the second-largest exchange in the world in terms of trading volumes, has just announced plans to open a branch in HK. OKX to Apply for VASP License and Launch Hong Kong Subsidiary According to Tuesday’s press release, OKX has established a Hong Kong entity to launch virtual asset…

Horizon certified for Montreal Exchange trading

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Horizon Software, an algorithmic and electronic trading technology solution provider for global capital markets, has announced its certification on the Montreal Exchange (MX). According to Tuesday’s press release sent to Finance Magnates, the certification allows Horizon’s clients to trade exchange-traded derivatives, such as equity, index, currency options, and interest rate derivatives, on the MX platform. Horizon is now equipped to offer connectivity Connectivity Connectivity is defined as a term used for connecting devices to each other. In most cases, this refers to computer networking and more specifically includes bridges, routers,…

Bitget Becomes the First Centralized Exchange To Offer Financial Transparency Through Space and Time

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March 27, 2023 – Victoria, Seychelles Bitget, the largest crypto copy trading platform, has announced a strategic partnership with Space and Time (SxT), a leader in decentralized data warehousing. The partnership will enable Bitget to offer users unparalleled transparency of exchange operations with a verifiably tamperproof audit trail of data and computation. Bitget is the first centralized exchange to leverage a decentralized data warehouse. The trustless Space and Time platform will provide Bitget users with verifiable evidence that the exchange holds the assets it claims to own on behalf of…

CFTC Sues Binance for Illegal Derivatives Exchange, “Numerous Violations”

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The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against cryptocurrency exchange Binance and Changpeng Zhao, its Chief Executive Officer, for “numerous violations of the Commodity Exchange Act (CEA) and CFTC regulations. The US derivatives market regulator also charged Binance for operating an illegal digital asset derivatives exchange. The agency disclosed these on Monday, noting that it filed the charges before a district court in Illinois. According to the regulator, Binance acted as “a designated contract market or swap execution facility” by processing derivatives transactions without being registered. Today…

G7 Leaders to Discuss Stricter Cryptocurrency Regulations

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According to a report from Kyodo News, officials from the Group of Seven (G7) leading industrial countries are set to discuss cryptocurrency regulations as part of preparations for their upcoming meeting in Hiroshima, Japan, in May. The nations present include the biggest world democratic nations and economic powers, including Japan, the U.S., the U.K., Canada, France, Germany, and Italy, which comprise the group along with the European Union. One of the main themes of these G7 meetings is to discuss the way forward for crypto regulations and also adoption across…

Chinese Banks Woo Cryptocurrency Firms Amid U.S. Regulatory Clampdown

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On March 27, Changpeng Zhao (C.Z.), the CEO of Binance, one of the world’s largest cryptocurrency exchanges, tweeted, “When one door closes, other ones open,” in response to the recent crackdown by U.S. banks on cryptocurrencies. According to the C.Z. phrase, the opening doors are those of China, while the closing doors refer to the state of cryptocurrency firms in the United States (U.S.), where digital firms face strict crypto regulations. As per the reports by the Straits Times, Chinese state-owned banks are vigorously courting cryptocurrency companies. This development follows…

DeFi Derivatives Exchanges Struggle with Liquidity, Posing Concerns in Crypto Market

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Liquidity is a big problem in the cryptocurrency market today and decentralized finance (DeFi) has not been immune to this. One of the most interesting developments in the Defi space has been the emergence of decentralized derivatives exchanges. These exchanges are more efficient than centralized exchanges, making them attractive to investors despite the regulatory risks. However, they are currently struggling with liquidity, which is a cause for worry, a report in Coindesk said.  dYdX, the first perpetual futures decentralized derivatives exchange, has been successful, but it is not completely decentralized…