Category: Exchanges

Amber Group acquires cryptocurrency platform Sparrow exchange: report

boss

Cryptocurrency trading firm Amber Group, which had roughly 10% of its trading capital stuck on FTX at the time of the exchange’s collapse, has reportedly acquired cryptocurrency platform, Sparrow Holdings according to an announcement on Dec. 14. The Singaporean crypto platform Sparrow Holdings, which offers digital assets products and solutions, acquired its payments license from the Monetary Authority of Singapore in August, to provide Digital Payment Token (DPT) services in Singapore, under the Payment Services Act (PSA). Founded in 2018, Sparrow works with financial institutions and family offices in designing…

Indian Government Doesn’t Register Foreign Exchanges: Minister

boss

The Indian government doesn’t register foreign exchanges as they are borderless and call for international collaboration to prevent regulatory arbitrage, said India’s Minister of State for Finance Pankaj Chaudhary in a written statement to the Parliament. He said this in reply to a question by a Member of Parliament (MP), who wanted to know the legal status of foreign exchanges and their compliance with the 1% transaction tax that became effective from July 1, 2022. The minister also informed the Parliament that Rs 60.64 (Approximately, $7.4 million) has been collected…

Binance Sees More Than $3,660,311,347 in Net Withdrawals As World’s Largest Crypto Exchange Gets ‘Stress Test’

boss

The largest crypto exchange by trading volume is undergoing a stress test as reports surface that Binance may be under US investigation. Yesterday, it was reported that Binance and its CEO Changpeng Zhao were under federal investigation for potential money laundering violations. Now, crypto data analyzer Nansen says over $3 billion in net capital has been withdrawn from Binance over the last seven days. “Binance Netflow 7D ($) -3,660,311,347 8,783,380,428 – Outflow 5,123,069,081 – Inflow” Source: Nansen/Twitter According to Binance CEO Changpeng Zhao, the exchange saw over $1 billion in withdrawals leave the…

Amid Speculation and Rumors Surrounding Binance, Exchange Token BNB Suffers Losses From the Alleged FUD – Market Updates Bitcoin News

boss

Following the FTX collapse, the largest cryptocurrency exchange by trade volume, Binance, has been surrounded by rumors and speculation in recent times. On Dec. 12, 2022, Reuters reported that U.S. Department of Justice prosecutors have been investigating Binance, according to four people familiar with the matter. Moreover, while a number of crypto assets have risen in value this past week, Binance’s exchange token has slid roughly 6.9% against the U.S. dollar over the last seven days. Binance’s BNB Takes a Hit from the Speculation Surrounding the World’s Largest Crypto Exchange…

Binance Refutes Report That DoJ Considers Suing the Crypto Exchange

boss

According to a report, the US Department of Justice is considering filing charges against Binance and several of its officials as part of a lengthy investigation. Binance has denied this news. In a tweet posted on Monday, the official Binance Twitter account made reference to the “wrong” Reuters report and pointed readers to the whole statement it provided to the news outlet on the subject. Changpeng “CZ” Zhao, the CEO of the company, later tweeted this. Reuters has it wrong again. Now they’re attacking our incredible law enforcement team. A…

Binance Investigating Abnormal Price Movements on Crypto Exchange, Locks Withdrawals on Some Accounts

boss

The world’s largest crypto exchange says it is probing certain accounts after noticing abnormal trading behavior on its platform. Binance says it is taking precautionary measures after noticing atypical activity involving the altcoins Sun Token (SUN), Ardor (ARDR), Osmosis (OSMO), FUN Token (FUN) and Golem (GLM). “We are aware of the abnormal price movements for certain trading pairs on Binance, involving assets such as SUN, ARDR, OSMO, FUN and GLM. Our team is investigating and taking appropriate actions in regards to the suspicious accounts.” Binance CEO Changpeng Zhao says the…

Cryptowisser: 51 Crypto Exchanges Dead in 2022

boss

press release PRESS RELEASE. Cryptowisser, a leading Crypto service comparison website, announces the launch of its annual Crypto exchange graveyard for 2022. This list is the only comprehensive database of “dead” cryptocurrency exchanges currently available. In 2022, 51 exchanges were reported dead, with the vast majority seemingly dying out due to business reasons and there were small percentages of scams, rebranding and regulatory deaths. FTX – Star of the Show Out of all the exchange casualties of 2022, FTX received the most attention, namely due to its sheer size and…

Crypto Sanctions & Their Impact on the Cryptocurrency Ecosystem – Crypto 2023

boss

While Tornado Cash had a website with user-friendly interface, on which, technically, it was possible to implement know your customer/anti-money-laundering (KYC/AML) features (even considering the absurdity of such an idea for a crypto mixer), its smart contracts code is open source. Users can deploy it without going to a specific website as well as copy it and clone the service, using other, not-yet-sanctioned wallets. Source

Crypto Exchange Bybit to Add New Restrictions for Unverified Users, Update Withdrawal Limits – Exchanges Bitcoin News

boss

Cryptocurrency exchange Bybit has announced upcoming changes to its know-your-customer (KYC) policy that will limit certain operations for unverified customers. The stricter requirements concern coin purchases with fiat money, NFT transactions, and withdrawal limits. Bybit to Limit Services for Traders Who Have Not Passed Identity Verification Crypto exchange Bybit will restrict some services that are currently available to users who are yet to pass its verification procedure. The crypto trading platform, one of the largest with global reach, announced the enhanced KYC requirements on Thursday and later adjusted the timeframe…

Paxful CEO preaches Bitcoin self-custody, advises against crypto exchange

boss

The case for self-custody grows stronger as investors demand evidence of their assets over crypto exchanges. While some CEOs chose to double down on assuring the funds’ safety on their platforms, Ray Youssef, the CEO of crypto exchange Paxful, sided with the idea of self-custody as he took responsibility for over 11 million users. The fall of FTX was an eye-opener for investors who predominantly entrusted crypto exchanges with safeguarding their assets. FTX CEO Sam Bankman-Fried, however, broke this trust by misappropriating users’ funds via Alameda Research. Ever since, numerous…