Category: Exchanges

Cryptocurrency has become a playground for fraudsters

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News involving crypto and fraud is ubiquitous in the white-collar crime sphere and, perhaps more worryingly, these fraudulent activities in the crypto sector are not limited to a single type of crime. Diverse and distinct yet with one common thread, these crimes involve real money and crypto investors are the victims. Many people have placed their life savings into crypto and, on a larger scale, private equities, pension schemes and even nation-states are principal investors and losers. There are con artists who will try and entice their targets to invest…

Crypto Exchange Bybit To Let Go of 30% of Workforce As Bear Market Drags On: Report

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Dubai-based crypto exchange Bybit is kicking off a round of layoffs equalling more than a quarter of their total workforce amid the current market woes. Bybit co-founder and CEO Ben Zhao announced the massive layoffs over the weekend on Twitter. “Difficult decision made today, but tough times demand tough decisions. I have just announced plans to reduce our workforce as part of an ongoing reorganization of the business as we move to refocus our efforts for the deepening bear market. The planned downsizing will be across the board. We are…

Chainlink ‘Smart Money’ Might Be Pulling LINK Tokens Off Exchanges to Stake Them

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Nansen considers a wallet to be “smart money” if it is “historically profitable,” meaning it meets at least one of several conditions, including: making at least $100,000 by providing liquidity to decentralized finance (DeFi) protocol, SushiSwap and Uniwap, excluding so-called impermanent losses; having at least more than or equal to five times in realized profits on multiple non-fungible token (NFT) collections that were minted in the last 60 months or having made multiple trades on decentralized exchanges in a single transaction that are profitable. Source

Digital Asset Lender Genesis Owes $900,000,000 to Customers of Crypto Exchange Gemini: Report

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Crypto lender Genesis reportedly owes nearly $1 billion to the customers of crypto exchange Gemini due to the collapse of FTX. According to a new report by the Financial Times, anonymous sources familiar with the matter say that Gemini is attempting to recover the funds from Genesis after the crypto broker was affected by FTX, a crypto exchange that declared bankruptcy last month. Previously, Genesis and Gemini had formed a partnership to create Gemini’s Earn program, which allowed retail investors to loan out their digital assets to earn interest. Last…

Demand for Cryptocurrency Miners Rises in Russia Amid Low Prices of Hardware – Mining Bitcoin News

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Russia’s market for specialized crypto mining equipment has been seeing high demand over the past couple of months, with buyers attracted by the low price tags. Russian experts also predict an increase in the supply of used coin minting hardware as large foreign companies leave the industry. Russian Demand for Powerful ASIC Miners Skyrockets in Q4, Report Reveals Demand for powerful computing devices designed to mint bitcoin has surged in Russia during the fourth quarter of the year, spurred by their low prices amid declining crypto markets, the Russian business…

Top US Crypto Exchange Coinbase Adds Three More Under-the-Radar Altcoins to Its Listing Roadmap

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Top US-based crypto exchange platform Coinbase is adding three additional under-the-radar altcoins to its listing roadmap. Coinbase announces that Magic (MAGIC), Rocket Pool (RPL) and Aragon (ANT) are now on its roadmap. MAGIC is the token used to operate Treasure, a decentralized video game console. The 235th-ranked crypto asset by market cap is trading at $0.449 at time of writing and has surged more than 15% in the past 24 hours. Aragon is a decentralized governance platform on the Ethereum (ETH) blockchain. ANT is valued at $1.94 at time of…

Top US Crypto Exchange Coinbase Adds Three More Under-the-Radar Altcoins to Its Listing Roadmap

boss

Top US-based crypto exchange platform Coinbase is adding three additional under-the-radar altcoins to its listing roadmap. Coinbase announces that Magic (MAGIC), Rocket Pool (RPL) and Aragon (ANT) are now on its roadmap. MAGIC is the token used to operate Treasure, a decentralized video game console. The 235th-ranked crypto asset by market cap is trading at $0.449 at time of writing and has surged more than 15% in the past 24 hours. Aragon is a decentralized governance platform on the Ethereum (ETH) blockchain. ANT is valued at $1.94 at time of…

How to keep your cryptocurrency safe after the FTX collapse

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The fall of the FTX crypto exchange forced many to reconsider their overall approach to investments — starting from self-custody to verifying the on-chain existence of funds. This shift in approach was driven primarily by the lack of trust crypto investors have in the entrepreneurs after being duped by FTX CEO and co-founder Sam Bankman-Fried (SBF). FTX crashed after SBF and his accomplices were caught secretly reinvesting users’ funds, resulting in the misplacement of at least $1 billion of client funds. Efforts to regain investor trust saw competing crypto exchanges…

Crypto Exchange Binance Rolls Out Trading Services for Brand-New Web3 Altcoin Project

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The world’s largest crypto exchange platform by volume is listing a brand new altcoin in its Innovation Zone which allows users to trade newer token offerings. According to a recent company announcement, Binance Launchpad, a branch of Binance where crypto projects can raise funds, recently hosted a token sale for the Hooked Protocol (HOOK) via a subscription format. In Binance’s subscription format, potential participants get their participation limits set by their average Binance Coin (BNB) balance over a set period of days. They can then choose to lock up any…

Thai VC fund acquires troubled exchange Zipmex for $100M: Report

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After weeks of negotiations on a potential buyout of Zipmex, venture capital fund V Ventures has reportedly reached a deal to acquire the embattled cryptocurrency exchange. V Ventures, a subsidiary of Thoresen Thai Agencies (TTA) public company, is looking to purchase a 90% stake in Zipmex crypto exchange, Bloomberg reported on Dec. 2. The VC fund is about to acquire Zipmex for about $100 million in digital assets and cash, anonymous sources familiar with the matter claimed. Citing a court hearing on Friday in Singapore, the report says that Zipmex…