Category: Exchanges

5A Crypto Exchange Recruiting Global Affiliate Partners to Expand Global Crypto Market

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Leading crypto trading platform 5A exchange recently updated its in-house affiliate program and is now offering up to 85% of its trading fee profit to global affiliate partners. 5A welcomes everyone who is interested in building their career in the crypto industry. The affiliate program is open to everyone, regardless of background and occupation. 5A’s affiliate program aims to promote a long term collaboration between the brand and affiliates, offering collaborators an attractive and robust platform to introduce customers to 5A’s award winning crypto trading platform. The affiliate program offers…

New FTX CEO Says the Collapsed Exchange’s Top Leaders Were ‘Potentially Compromised Individuals’

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The new chief executive of bankrupt crypto exchange FTX says that the platform’s leadership was made up of “potentially compromised individuals.” According to recent bankruptcy filings, FTX CEO John Ray, who took the firm’s help from founder Sam Bankman-Fried last week, says that the crypto exchange’s current situation is unprecedented. “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here. From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control…

Lower Cap Altcoins May End Up Being Delisted From Exchanges To Protect Investors, Warns Crypto.com CEO

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Crypto.com CEO Kris Marszalek says exchanges could potentially protect consumers more amid market volatility at the cost of low-cap crypto assets. In a new interview on CNBC’s Squawk Box, Marszalek says that the meltdown of FTX is causing liquidity problems that could lead to crypto exchanges pulling out support for smaller coins in their platforms. “If you see the liquidity evaporate in the market, what is going to happen is the smaller currencies that are really illiquid are facing a risk of being delisted from different exchanges in an effort…

‘And so He Won’: SBF Dishes on Changpeng Zhao, Bankruptcy and Regulators in Candid DM Exchange With Vox Reporter

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Disgraced FTX founder Sam Bankman-Fried is speaking his mind following the crash of his crypto empire in a direct message conversation with a Vox reporter. During a Twitter exchange with Vox reporter Kelsey Piper, Bankman-Fried brings up his view of Binance CEO Changpeng Zhao after suggesting that some of crypto’s most beloved people are shams. “Now, he’s a hero. Is it because he’s virtuous or because he had the bigger balance sheet? And so he won.” Bankman-Fried also says he regrets that FTX filed for bankruptcy, saying he should have…

Bitcoin Exit From Crypto Exchanges Rises to 220K Over Past 10 Days

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Getting hit the most over the last day was Gemini after that exchange paused withdrawals from its Earn program thanks to its ties with crypto investment bank Genesis, whose crypto lending unit was forced to halt withdrawals. According to the Coinglass data, the bitcoin balance at Gemini currently stands at just shy of 165,000 coins, down about 12.5% from roughly 188,500 24 hours earlier. Source

Canadian exchange Bitvo backs off the deal

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The Canadian cryptocurrency exchange Bitvo has terminated its expected acquisition agreement with FTX to continue operating independently. Bitvo’s shareholder, Pateno Payments, has discontinued the acquisition deal with FTX Canada and FTX Trading in accordance with the agreement terms, Bitvo announced on Nov. 15. The firm emphasized that its operations have not been affected as Bitvo has no material exposure to FTX or any of its affiliated entities. Bitvo trading operations, including withdrawals and deposits, are intact. Bitvo also stressed that it’s not party to the bankruptcy proceedings entered into by…

Australia Suspends Financial Services License of Local FTX Entity – Exchanges Bitcoin News

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Australia’s securities regulator has suspended the license of the Australian unit of the bankrupt crypto exchange FTX until mid-May. According to an issued statement, the platform will be allowed to provide limited financial services until Dec. 19 in order to terminate existing derivatives. FTX Australia Sees License Suspended After Accepting Voluntary Administration The Australian Securities and Investments Commission (ASIC) has suspended the financial services license of FTX Australia Pty Ltd. until May 15, 2023. The decision comes after the local arm of the failed cryptocurrency exchange was placed under voluntary…

Crypto Hedge Fund Ikigai Caught in FTX Collapse, Large Majority of Firm’s Total Assets Stuck on Exchange: Founder

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The crypto hedge fund Ikigai says most of its assets are stuck on the collapsed FTX digital asset exchange. Ikigai founder and Chief Investment Officer Travis Kling tells his 89,900 Twitter followers that they attempted to withdraw investor funds from the platform but failed in retrieving them in their entirety. “Unfortunately, I have some pretty bad news to share. Last week Ikigai was caught up in the FTX collapse. We had a large majority of the hedge fund’s total assets on FTX. By the time we went to withdraw Monday…

How to Lower Your Tax Bill With Cryptocurrency Losses

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Investments that are reported on Schedule D of your tax return include stocks, bonds, crypto, collectibles and homes. So you can use losses from any of these asset classes to offset each other and get to $3,000 in deductible losses. For example, if you had $15,000 in crypto losses and $10,000 in stock gains, you would have a net loss of $5,000. You can deduct up to $3,000 and then use the remaining $2,000 in losses to offset gains in 2023 and beyond. Source