“Binance’s undisputed market leadership has not been an accident – it has a long history of doing right by the customer,” the report added, noting that the exchange has made customers whole through hacks and regulatory challenges. The exchange is now around 75% of the global crypto trading market. Source
Binance, leading cryptocurrency exchange, is making arrangements to finalize its acquisition of GOPAX, one of the top crypto exchanges in Korea, blockchain media platform Decenter reports. The exchange has conducted its due diligence in this regard and is confirming other procedures, the outlet said. Grab your copy of our latest Quarterly Intelligence Report for Q3 2022 before your competitors and stay up-to-date with crucial developments in the Forex and CFD industry! According to the outlet, Binance intends to buy the 41.2% majority stake of CEO Lee Jun-Haeng in GOPAX. The…
FTX customers in Japan will soon be able to withdraw their funds that are currently frozen due to the bankruptcy process. Two FTX-owned crypto exchanges, FTX Japan and Liquid, are developing a system to allow withdrawals by mid-February. FTX’s Japanese Customers Can Withdraw Funds Soon Two FTX-owned cryptocurrency exchanges in Japan — FTX Japan and Liquid — jointly announced Thursday that their users will be able to withdraw funds by mid-February. The two crypto exchanges announced: For the assets entrusted to us by our customers at FTX Japan and Liquid…
Smart contract platform Solana (SOL) and other digital assets associated with it continue to freefall as a crypto exchange platform announces it’s going to delist them. According to crypto reporter Colin Wu, crypto exchange Matrixport will delist SOL and its accompanying digital assets starting December 30th, a move that sent the already-ailing cryptocurrencies on another downswing. Wu says that Matrixport will also not consider launching SOL products in the future. “Matrixport, the asset management platform founded by Jihan Wu, announced that it will delist SOL and SOL-U dual-currency investment products…
Bitcoin advocate Nic Carter has released an in-depth analysis of centralized exchange proof-of-reserves and ranked the attestations provided by some of the most prominent crypto trading platforms in the space. Carter published a detailed examination of the quality of several exchanges’ proof-of-reserves (PoR). The crypto executive used parameters such as attestation to assets held and a disclosure of liabilities, incorporating a third-party auditor, demonstrating credibility by taking a PoR for all assets and committing to an ongoing procedure to determine which PoRs are of the best quality. PoR scores of…
Attorney and XRP supporter John Deaton thinks Gary Gensler, the chair of the U.S. Securities and Exchange Commission (SEC), will pursue more regulatory action that will drive crypto prices lower. Deaton says he expects Gensler to sue a crypto exchange and argues that most of the exchange’s tokens are unregistered securities. Consequently, he believes crypto prices could plummet even further, allowing traditional financial institutions like Goldman Sachs or JPMorgan Chase to buy up shares in the sector. “I’ve been saying for a year that this was the plan. Once the market…
With exchanges becoming a focus as the FTX fiasco continues, a new research paper suggested that almost three out of four transactions in unregulated exchanges are fake. A working paper titled “Crypto Wash Trading” was recently published by the National Bureau of Economic Research (NBER). Using statistical and behavioral patterns to determine which transactions were legitimate or not, the paper studied 29 unregulated exchanges and came to a conclusion that, on average, more than 70% of the volume within the platforms are wash trades. The researchers found that some exchanges’…
Crypto exchange Gemini is reportedly being hit with a class action lawsuit along with its founders for allegedly selling unregistered securities. According to a new report from Bloomberg, Gemini, along with its founders, the Winklevoss brothers, are the target of a lawsuit claiming they sold interest-bearing accounts through the firm’s Earn program as unregistered securities. Under the Earn program, Gemini partnered up with crypto lender Genesis to provide traders with up to 8% returns on their holdings. However, earlier this month Genesis announced that FTX’s collapse greatly affected its finances…
Once assumed to be extinct until its unlikely return in the latter part of 2017, browser-based cryptocurrency mining dates back to 2011 when BitcoinPlus.com launched its then-innovative service. Of course, back when Bitcoin was fairly new and mining was cheap, the idea of using a website to do the work for miners was quite popular. Thanks to a surge in the cryptocurrency market circa 2017, browser-based cryptocurrency mining has made a resurgence in certain circles today. The technology’s evolution is also due in part to the advent of blockchain-based coins…
Kraken is one of the world’s largest crypto exchanges. Tiffany Hagler-Geard | Bloomberg via Getty Images Digital currency exchange Kraken will close down its operations in Japan next month, in another sign of consolidation in the battered crypto industry. In a blogpost on Wednesday, Kraken said it would cease crypto trading services through its Japanese subsidiary, Payward Asia, and deregister from Japan’s Financial Services Agency on Jan. 31, 2023. It is the second time Kraken has left the Japanese market. The first was in 2018, when it closed four years…