Category: Exchanges

Controversial Tron-Based Altcoin Skyrockets 39,500% After Launch on Crypto Exchange Huobi

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An altcoin recently launched on crypto exchange Huobi has exploded exponentially since being listed. FTX Users’ Debt (FUD), based on Tron (TRX) and first listed on Huobi, aims to maintain its value with the backing of the debt of those who lost funds on collapsed crypto exchange FTX. The token is issued by DebtDAO, an organization that has no direct affiliation with FTX. FUD is meant to represent $1 of debt, and had an initial supply of 20 million tokens. Tron founder and Huobi advisor Justin Sun described FUD as…

LBank Exchange Will List Fief (FIEF) on February 8, 2023 – Press release Bitcoin News

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press release PRESS RELEASE. INTERNET CITY, DUBAI, Feb. 7, 2023 – LBank Exchange, a global digital asset trading platform, will list Fief (FIEF) on February 8, 2023. For all users of LBank Exchange, the FIEF/USDT trading pair will be officially available for trading at 6:00 UTC on February 8, 2023. Fief Protocol is the decentralized application layer above the Fiefverse, an open-world voxel RPG. Its native token FIEF will be listed on LBank Exchange at 6:00 UTC on February 8, 2023, to further expand its global reach and help it…

Binance Halting US Dollar Deposits and Withdrawals via Bank Accounts – Exchanges Bitcoin News

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Global crypto exchange Binance is suspending deposits and withdrawals in U.S. dollars via bank accounts starting Wednesday as more and more banking institutions try to reduce their exposure to the crypto market. “We are working hard to restart service as soon as possible,” Binance said. Binance Suspending USD Deposits and Withdrawals Global cryptocurrency exchange Binance is reportedly suspending withdrawals and deposits in U.S. dollars using bank accounts starting Wednesday. Without providing a reason, a spokesperson for Binance told CNBC: We are temporarily suspending USD bank transfers as of February 8th.…

Crypto Exchange Huobi Lists New ‘FUD’ Token Backed by FTX Users’ Debt With Approval From Justin Sun

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Prominent crypto exchange platform Huobi has listed a new altcoin project backed by the debt of FTX users, according to a new company announcement. Huobi says it is supporting the token FTX Users’ Debt (FUD) with the approval of Justin Sun, a high-ranking advisor to the exchange and the founder of Tron (TRX). Crypto exchange FTX went bankrupt last year. Its executives were accused of defrauding investors and mishandling billions of dollars worth of user funds. According to crypto creditor and FUD issuer DebtDAO, the tokens will debut with a…

FTX CEO testifies on ‘pure hell’ post-bankruptcy days at exchange

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John Ray, who took over as CEO of crypto exchange FTX, has described some of the chaotic experiences at the firm following the company declaring bankruptcy. In testimony for FTX’s case in the United States Bankruptcy Court for the District of Delaware on Feb. 6, Ray said he and other professionals had “carefully” been conducting an investigation into FTX’s activities, due to the company having no physical office. The FTX CEO seemed to be pushing back against a motion to assign an independent examiner to the bankruptcy case, claiming that…

Shiba Inu (SHIB) Rallies Once Again As ShibaSwap (BONE) Gets Listed on Crypto Exchange Bitget

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Dogecoin (DOGE) rival Shiba Inu (SHIB) has outrun most of the digital asset markets yet again as hype continues to build around the top meme cryptocurrency. At time of writing, SHIB is up over 80% since and the beginning of the year and more than 32% in the last seven days, trading at $0.00001461 at time of writing. The Shibu Inu ecosystem is anticipating the launch of its new layer-2 upgrade Shibarium, a scaling solution built on top of Ethereum (ETH), similar to Polygon (MATIC) Days ago, crypto exchange Bitget…

Top US Crypto Exchange Coinbase Adds Ethereum Staking Altcoin to Listing Roadmap

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Top US crypto exchange Coinbase has added the altcoin Liquid Staked Ethereum (LSETH) to its listing roadmap. Liquid Staked ETH is a new “receipt token” investors receive when they stake their Ethereum (ETH) with the Liquid Collective, a liquid staking protocol. The Liquid Collective notes its staking method differs from traditional staking, where users lock up their tokens. “Whereas traditional methods of staking are subject to bonding and unbonding periods (ranging from days to weeks), liquid staking provides stakers with increased liquidity and capital efficiency. Token holders stake their token…

Crypto Exchange Woes Continue: Kraken Reportedly Shutters Regional Headquarters As Bittrex Lays Off 83 Employees

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A new report finds that crypto exchanges Kraken and Bittrex are downsizing amid the continued turmoil in the digital asset space. Bloomberg reports that San Francisco-based Kraken shuts down its Abu Dhabi office less than a year after receiving a license to operate a regulated exchange platform in the United Arab Emirates (UAE). The third-largest crypto exchange is laying off 30% of its global workforce as a result of the crypto winter. A spokesman says Kraken already dismissed the majority of its team focused on the Middle East and North…

Bitcoin Won’t Be an Effective Currency, Store of Value or Medium of Exchange, Says Hedge Fund Legend Ray Dalio

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In a new interview on CNBC’s Squawk Box, hedge fund veteran Ray Dalio says Bitcoin (BTC) is getting more attention than it deserves. The founder of asset management firm Bridgewater Associates says that what Bitcoin accomplished in the last 12 years is amazing, but investors still have better choices than putting their money on the benchmark cryptocurrency. “It’s a tiny thing that gets disproportionate attention. You know the value of Bitcoin is less than a third of the value of Microsoft stock. You can go into industries. Biotech and many…