Category: Exchanges

Mercado Pago Launches Cryptocurrency Trading Services in Mexico – Exchanges Bitcoin News

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Mercado Pago, the financial wallet division of Mercado Libre, the Latam e-tail giant, has announced the launch of cryptocurrency trading services in Mexico. The company has already launched this kind of service in Brazil, serving one million customers in the country, allowing them to purchase, store, and sell bitcoin and ethereum, and also to receive Mercado Libre’s own token, mercadocoin. Mercado Pago Debuts Crypto Purchases in Mexico Mercado Pago is aiming to grow in Mexico with the introduction of cryptocurrency services. The company, which serves as a wallet arm of…

Crypto Exchange Binance Wants To Collaborate With Elon Musk on Running Twitter: Report

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The world’s largest crypto exchange by volume is reportedly creating a new team to help tech billionaire Elon Musk incorporate blockchain technology into Twitter’s business model. According to a new report by Reuters, Binance is planning to help the business magnate determine how crypto assets could be integrated into Twitter. Binance pledged to invest $500 million into Twitter earlier this year when the exchange heard about Musk’s plans to acquire it. Binance’s team will reportedly look into finding crypto-based solutions to stifle the many issues Twitter has had over the…

Japanese Crypto Exchange Aims To Go Public on the Nasdaq Next Year

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A Japanese crypto exchange and Web3 platform is looking to grow by going public on the Nasdaq Stock Market by 2023. According to a Q2 fiscal report filed with the U.S. Securities and Exchange Commission (SEC), Tokyo-based crypto exchange platform Coincheck is planning to go public on the Nasdaq next year. The report also details that Coincheck, owned by Japanese financial services firm Monex Group, will be collaborating with a Special Purpose Acquisition Company (SPAC) and has expanded its crypto-related offerings to include metaverse and Web3 products as well as…

India Investigates 3 Crypto Exchanges for Illegal Drug Trade Transactions

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Indian investigating agencies including Enforcement Directorate and Income Tax Department are probing three crypto exchanges for their role in illegal drug-trade transactions. The country’s Financial Intelligence Unit (FIU) has identified nearly 200 transactions together worth $3.5-billion at the current price that was routed through the three suspect crypto exchanges. These transactions are suspected to have funded the illegal trade of drugs and were carried out in Nigeria, the British Virgin Islands, and the Cayman Islands between 2019 and 2021, the Economic Times reported.  FIU is a national-level agency that receives all…

Egyptian Currency Plunges 15% After Cairo Accedes to Key IMF Exchange Rate Condition – Emerging Markets Bitcoin News

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After authorities in Egypt announced the adoption of a more flexible exchange rate regime, the pound exchange rate versus the U.S dollar plunged to 23.09:1, a new low for the currency. Cairo’s apparent devaluation of the Egyptian pound met a key condition set by the International Monetary Fund (IMF) before it eventually approved a $3 billion bailout package for Egypt. The IMF’s Key Condition A report has said that the official exchange rate of the Egyptian pound versus the U.S dollar plunged by 15% to 23.09 per dollar after the…

24 Exchange Sees Record Forex NDF Trade Volumes in October

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24 Exchange, a Bermuda-based multi-asset trading platform launched in 2019, saw record daily and weekly records in forex non-deliverable forwards (NDFs) in October 2022. Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments. The platform posted a record daily forex NDF trade volume of $1.476 billion on October 21 and a record weekly FX NDF trade volume of $1.175 billion between October 17-21, 2022, the company disclosed on Friday. “During three of the…

Staggering $1,520,000,000 in Bitcoin Exits Crypto Exchanges in 24 Hours: IntoTheBlock

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New data from crypto analytics firm IntoTheBlock shows tens of thousands of Bitcoin (BTC) tokens worth more than $1 billion left crypto exchanges in a single day. According to IntoTheBlock, the more than 70,000 Bitcoin tokens valued at $1.52 billion that left exchanges in the past 24 hours is the largest outflow in six months. “Bitcoin just recorded its largest net outflow from exchanges in six months. Over 70,000 BTC worth $1.52 billion left exchanges on October 26.” Source: IntoTheBlock Large amounts of Bitcoin outflowing from exchanges can indicate a…

Crypto Exchange FTX Plans To Develop a Stablecoin, Says CEO Sam Bankman-Fried: Report

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The Bahamas-based crypto exchange FTX could soon develop its own stablecoin, according to the firm’s chief executive, Sam Bankman-Fried. In a new interview with European Web3 media company The Big Whale, Bankman-Fried teases the possibility that FTX could make moves on issuing a stablecoin soon. “We’ve held off on doing it because I think to some extent we think that collaboration on that could be really powerful, and with us trying to find the partners that we’d be really excited to work with there. But I think you’ll probably be…

Why Institutional Investors are Sizing Up the Cryptocurrency Market

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For example, let’s say an LP deposits liquidity into an ETH-BTC pool at a time when 1 BTC equals 10 ETH. A month later, the value of ETH doubled while BTC hasn’t changed. When this disparity occurs, arbitrage traders will jump at the opportunity to buy ETH from that pool and sell it on a DEX at a higher price thereby bringing the pool ratio and token prices back to market rate. This could hurt a depositor or benefit them, depending on which side of the trade they’re on. Source

Exchange Giant Coinbase Adds Custody Support for 14 Ethereum (ETH)-Based Altcoins, Spurring Rallies Up to 20%

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Top US-based crypto exchange platform Coinbase is expanding its suite of digital assets by adding custody support for over a dozen of Ethereum (ETH)-based altcoins. Coinbase says it’s adding 14 new cryptocurrencies to the growing roster of virtual currencies in its Coinbase Custody cold storage trust. Coinbase Custody, which launched in July 2018, is a crypto custodial service for wealthy and blue-chip investors located in New York that’s designed to give traders a safe way to store large amounts of digital assets. The announcement had mixed results on the prices…