Category: Exchanges

Luno Africa Says Customers and Operations Not Affected by Turmoil at Genesis Capital – Exchanges Bitcoin News

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Just days after reassuring concerned customers, Marius Reitz, the general manager of crypto exchange Luno Africa, recently reiterated the company has not been impacted by Genesis Capital’s decision to pause withdrawals. He added Luno customers still have access to funds in the savings wallet despite its lending partner’s decision to freeze withdrawals. Customers Retain Access to Funds in the Savings Wallet According to Marius Reitz, general manager of the crypto exchange Luno Africa, his company is operating normally and has not been affected by Genesis Capital’s suspension of “redemptions and…

5A Crypto Exchange Announces $5M Fund to Support Global Users

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5A crypto exchange has established a 5 million USDT fund to support global users”during this challenging period in the crypto industry,” the company said Monday. Earlier this month crypto exchange FTX filed for bankruptcy, triggering a domino effect across the already-troubled industry, prompting other firms to warn of worsening liquidity crunches. Therefore, 5A crypto exchange is trying to turn the industry tumult of the past few weeks into an opportunity. The crypto market has lost two-thirds of its value in a year and has been roiled by the collapse of…

Crypto Exchange OKX Launches New Proof-of-Reserves System Allowing Users To Verify Their Assets

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Crypto exchange OKX is launching a new proof-of-reserve system that enables customers to verify their digital assets. The Seychelles-based firm says the OKX Proof of Reserves (PoR) will provide a means for users to verify that their funds are backed 1:1 by real assets. “At OKX, we hold a 1:1 reserve of all customer assets on our platform and pride ourselves on our long-standing reputation for best-in-class security. Now, we’re empowering you with greater transparency than ever before through PoR, a common cryptographic audit.” OKX is launching its first PoR…

Low-Cap Altcoin Jumps After Surprise Announcement From Crypto Exchange Binance

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The price of a little known altcoin is surging after getting support from Binance, the world’s largest crypto exchange platform by volume. The trading platform’s mining pool service, Binance Pool, is adding Ravencoin (RVN) to its catalog of crypto assets as the Ethereum (ETH) merge in September spurred interest in the altcoin due to its proof-of-work (POW) consensus mechanism, which leaves room for mining. Crypto miners could no longer mine the leading smart contract platform after it switched to proof-of-stake (POS) mechanism, causing a spike in demand for proof-of-work tokens…

UAE regulator revokes FTX license amid the exchange collapse

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As the FTX debacle still creates waves in the crypto industry and beyond, the Dubai Virtual Assets Regulatory Authority (VARA) has suspended the license which allows FTX to make preparations to service the local market.  In an announcement posted on its official website, VARA mentioned that it has revoked the approval of FTX MENA’s Minimum Viable Product (MVP) license. Citing the bankruptcy filing of FTX-related entities including FTX exchange and Alameda Research, VARA confirmed that FTX MENA’s license was suspended before any clients were exposed. According to the regulator, FTX…

ASIC Guides Exchanges How to Name ETPs

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The Australian Securities and Investments Commission (ASIC ASIC The Australian Securities and Investments Commission (ASIC) is the prime regulator in Australia for corporate, markets, financial services, and consumer credit. It is empowered under the financial service laws to facilitate, regulate, and enforce Australian financial laws. The Australian Commission was set up and is administered under the Australian Securities and Investment Commission Act of 2001. ASIC was initially the Australian Securities Commission based on the 1989 ASC Act. Initially, the idea was to unite regulators in Australia by replacing the National…

Gemini Says Crypto Exchange Working To Find Solution for Users To Redeem Funds From Struggling Earn Product

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The crypto exchange Gemini says it’s working to “find a solution” so its customers can redeem funds from its interest-earning program, Gemini Earn. The program was impacted last week when its leading partner, blue-chip crypto lender Genesis, halted customer withdrawals due to liquidity issues stemming from the collapse of 3AC and FTX. Says Gemini this week, “We continue to work with Genesis Global Capital, LLC (Genesis) — the lending partner of Earn — and its parent company Digital Currency Group, Inc. (DCG) to find a solution for Earn users to…

Bitcoin Wallet of the Failed BTC-e Exchange Wakes Up

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Vinnik, a Russian national, faced competing extradition claims from Russia, France and the U.S. He was extradited to France from Greece in 2020, and sentenced to five years in prison for money laundering. This August he was extradited to the U.S. to face allegations of “computer intrusions and hacking incidents, ransomware scams, identity theft schemes, corrupt public officials and narcotics distribution rings,” according to a 2020 indictment by the California court. He is now at the Santa Rita Jail in Dublin, California, according to the court case docket. Source