Category: Exchanges

The role of cryptocurrency in advancing financial inclusion

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Access to and use of financial services, known as financial inclusion, is crucial for economic growth and development. Unfortunately, a large portion of the population, particularly in developing nations, still lacks access to basic banking services. The World Bank estimates that 1.4 billion adults worldwide are without access to these services, which limits economic opportunities and perpetuates poverty. Cryptocurrency, with its decentralized and digital nature, may provide a solution to this issue by advancing financial inclusion. Cryptocurrencies can be stored and transferred digitally and do not require physical banking infrastructure.…

3AC new exchange triggers backlash from the crypto community — ‘No, thank you’

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The launch of the exchange project backed by the bankrupt hedge fund Three Arrows Capital (3AC) attracted a mob of angry community members who took to Twitter, expressing their disappointment with the state of the crypto space.  Open Exchange, a crypto exchange project that 3AC and Coinflex initially proposed, launched a website and opened a waitlist on Feb. 9. 3AC founder Zhu Su pointed out that the project is a way to atone for their past mistakes. However, many members of the community were enraged by the launch. One community…

Gold Coins Help Zimbabwe Achieve ‘Price and Exchange Rate Stability’ — Central Bank – Africa Bitcoin News

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The Reserve Bank of Zimbabwe recently revealed that some 25,188 of its value-preserving gold coins were sold between July 2022 and Jan. 13. According to the central bank governor, John Mangudya, the gold coins “have proved to be an effective open market instrument for mopping up excess liquidity in the economy.” Gold Coins as Alternative Value Preservation Tool According to the Zimbabwean central bank, about 25,188 “Mosi-oa-Tunya” gold coins valued at over $28 million (ZWD$20 billion) were sold between July 2022 — when the coins were initially introduced — and…

3AC and CoinFLEX launch website, waitlist for crypto claims exchange

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A crypto exchange project initially proposed by 3AC and Coinflex has now launched an official website and waitlist as of Feb. 9. Called “Open Exchange (OPNX)”, the new project alleges that it will be “the world’s first public marketplace for crypto claims trading and derivatives,” according to a tweet from the project’s official Twitter account. 1/ Introducing Open Exchange. Open Exchange will start as the world’s first public marketplace for crypto claims trading and derivatives. Then become the world’s most radically transparent CEX. The claims waitlist is now open @…

Cryptocurrency exchange Kraken settles SEC crypto staking suit

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Kraken is one of the world’s largest crypto exchanges. Tiffany Hagler-Geard | Bloomberg via Getty Images Crypto exchange Kraken will shutter its U.S. cryptocurrency staking operation and pay a $30 million fine to settle an enforcement action alleging it sold unregistered securities, the Securities and Exchange Commission said Thursday. The SEC claims Kraken failed to register the offer and sale of its crypto staking-as-a-service program. U.S. investors had crypto assets worth over $2.7 billion on Kraken’s platform, the SEC alleged, earning Kraken around $147 million in revenue, according to the SEC…

Gemini Plans To Contribute $100,000,000 To Earn Users As Crypto Exchange Strikes Deal in Principle With Genesis

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A top executive of crypto exchange Gemini is announcing a deal that could see users of its Earn program get back their digital assets that were loaned to crypto broker Genesis. Gemini co-founder Cameron Winklevoss says that Gemini has signed an agreement with Genesis, its parent company Digital Currency Group, and other creditors that would allow users who had subscribed to the interest-generating Earn program to recover their lost funds. According to Winklevoss, the agreement was signed in bankruptcy court earlier this week and puts all Genesis creditors on a…

ReserveBlock Announces RBX Token Listing on BitMart Exchange

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February 8, 2023 – Los Angeles, California Blockchain platform ReserveBlock has announced that its native asset will be listed on BitMart. The RBX market will open for trading on BitMart’s crypto exchange on February 8, 2023. The event follows recent listings on Bitrue and Deepcoin. RBX secures ReserveBlock’s open source network and used to validate the PoA (proof-of-assurance) consensus on the decentralized tokenization layer one protocol. Its listing on BitMart will make RBX available to a global audience while increasing access to ReserveBlock’s growing ecosystem. To mark the event, ReserveBlock…

Little-Known Altcoin Surges After Coinbase Abruptly Adds Support on Top Crypto Exchange

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Top US crypto exchange Coinbase has added sudden support for proof-of-stake blockchain Axelar, sparking a rally for its native token, AXL. Axelar is a project built using the Cosmos SDK (software development kit), and aims to deliver cross-chain communication between numerous other blockchains. Its functions include making cross-chain token transfers, calling smart contracts, or sending arbitrary messages from one chain to another. Developers can use Axelar to build decentralized applications (dApps) that allow users to interact with assets or applications on multiple chains within one platform. Says Axelar’s whitepaper, “Axelar…

Dutch Crypto Exchange Bitvavo Expects at Least 80% Recovery from DCG

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Bitvavo, an Amsterdam-based cryptocurrency exchange Cryptocurrency Exchange A cryptocurrency exchange is an online platform that supports the exchange of various currencies for a cryptocurrency or digital asset.Comparable to a generalized financial exchange, a crypto exchange’s core function is to permit and encourage the buying and selling of cryptos.This is accomplished by producing a stable trading environment suitable for traders nested through different locations around the world. Sometimes a crypto exchange may be referred to as a digital currency exchange (DCE) f A cryptocurrency exchange is an online platform that supports…