Category: Exchanges

Venezuelan Banks Have Blocked Over 75 Accounts Since the End of Last Year Due to Cryptocurrency-Related Activities – Economics Bitcoin News

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Venezuelan Banks have started eyeing the accounts of customers with ties to cryptocurrency trading, principally related to peer-to-peer (P2P) transaction activity. According to Legalrocks, a crypto and blockchain-focused legal firm in Venezuela, more than 75 accounts have been blocked by Venezuelan private banks for facilitating crypto-to-fiat and fiat-to-crypto conversions since the end of 2021. Venezuelan Banks Suspend Crypto-Related Accounts Venezuelan banks are ramping up vigilance on accounts that commonly are related to cryptocurrency transactions. According to a blog post published by Legalrocks, a Venezuelan law firm focused on cryptocurrency and…

Philippine Regulator Warns Against Using Unlicensed Cryptocurrency Exchanges Following FTX Collapse – Regulation Bitcoin News

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The Philippine Securities and Exchange Commission (SEC) has advised investors against transacting with unlicensed cryptocurrency exchanges. The warning followed the collapse of crypto exchange FTX which “left hundreds of thousands, even millions of unsecured creditors with little to no recourse in recovering their money,” the regulator stressed. Philippine SEC Warns About Unregulated Crypto Exchanges The Philippine Securities and Exchange Commission (SEC) issued an advisory Friday warning the public against transacting with unregistered cryptocurrency exchanges. The regulator wrote: SEC strongly warns and advises the public against transacting with unregistered and unlicensed…

Bitcoin exchange withdrawals sink to 7-month low as users forget FTX

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Bitcoin (BTC) exchange users have forgotten all about the FTX scandal this Christmas, data shows. According to on-chain analytics firm Glassnode, exchange outflows have now hit their lowest levels in over six months. Still not your keys, still not your coins? As Bitcoin volatility sets a new record low in what is being called “Do Nothing December,” exchange users’ habits are also rapidly adjusting to the current climate. After seeing an overwhelming surge in light of the FTX meltdown, BTC withdrawals from exchange wallets have entirely reversed the spike which…

Defend the Krypto, a Limited-Time Mobile Game, Recently Launched to Bring Some Inner Peace to Victims of Cryptocurrency Disasters

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Hong Kong – As FTX collapsed, millions of victims lost both funds and also faced a cryptocurrency bloodbath. In 2022, there were a series of events caused by wrongdoings, fraud and criminal activity by cryptocurrency figures. The fall and arrest of FTX ex-CEO and Thodex ex-CEO, Sam Bankman-Fried and Faruk Fatih Özer, might be good news for some crypto investors, but for most victims, justice has not been served. Do Kwon, ex-CEO Terraform Labs, Su Zhu, ex-CEO of Three Arrows Capital and Caroline Ellison, ex-CEO of Alameda Research, still run…

Binance Addresses Mazars Saga, USDC Withdrawal Halt and Other ‘FUD’ Amid Heightened Crypto Exchange Scrutiny

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Binance is addressing the fear, uncertainty and doubt (FUD) centered around crypto exchange platforms after the high-profile downfall of FTX. In a new company blog post, the world’s largest digital asset exchange by volume explains why some of the common narratives about it being financially unhealthy are untrue. First, Binance addresses the rumor that it does not have sufficient reserves for users to be able to withdraw coins. “Binance’s business model is very simple. The platform makes profits mainly by charging transaction fees. The company’s assets are completely separated from…

2 executives of crypto exchange AAX arrested in Hong Kong: Report

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Hong Kong police arrested two executives of the crypto exchange AAX accused of fraud and misleading the police, according to local media reports.  Weigao Capital CEO Liang Haoming and former AAX CEO Thor Chan were arrested on Dec. 23. Local authorities accused them of claiming there was “system maintenance” as an excuse to delay customers from withdrawing assets amid liquidity issues. One of the executives also allegedly lied to the police about the timeline of his activities in the company, deliberately misleading law enforcement. Two bank accounts of AAX as…

Cryptocurrency Increasingly Mainstream in Laundering, Funding of Terrorism, and the Ukraine Conflict, Reports Austrac

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Australian financial intelligence agency Austrac warns that cryptocurrency is the currency of choice for local donations towards terrorist organizations and local organized crime groups. They also warn that war assets are being bought by Russian paramilitary groups for involvement in the Ukraine crisis using these cryptocurrency donations. It is no longer a “niche option” like before, John Moss opined. The deputy chief executive and head of intelligence says that it is now becoming more mainstream among criminal groups, “particularly to send money offshore.” Indeed, it has also been used as…

Crypto Exchange Bullish Terminates SPAC Merger Deal

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Cryptocurrency exchange Bullish confirmed on Thursday the termination of its agreement with special purpose acquisition company (SPAC), Far Peak Acquisition Corporation (NYSE: FPAC), thus ending its ambitions to become a public firm. 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! The two companies mutually agreed on the deal’s termination, which was originally announced on 8 July 2021. It would have made Bullish a publicly traded cryptocurrency exchange Cryptocurrency Exchange A cryptocurrency…

Leading Decentralized Exchange Uniswap (UNI) Launches Payments With Credit Card and Bank Transfers

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Decentralized finance (DeFi) platform Uniswap (UNI) is announcing that users can now buy cryptocurrencies on its web app using credit or debit cards and through bank transfers. The leading decentralized cryptocurrency exchange (DEX) is rolling out support for the new payment methods in partnership with MoonPay, a fintech company that builds payment infrastructure for crypto. “Now you can go direct to DeFi with the Uniswap Web App and buy crypto on our web app using any card or bank transfer in 160+ countries with our first partner, MoonPay.” The availability…

Crypto exchange Bullish announces termination of SPAC deal, citing SEC practices

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Bullish, a crypto firm that came to public attention in July 2021 for seemingly being unclear on what products or services it was offering, has announced the termination of a deal aimed at taking the company public. In a Dec. 22 announcement, Bullish said it had reached a mutual agreement with Far Peak Acquisition to no longer merge in a deal for a listing on the New York Stock Exchange. Bullish chair Brendan Blumer, also the CEO of Block.one, cited the United States Securities and Exchange Commission’s work to “lay…