Category: Exchanges

Billionaire Sam Bankman-Fried and Crypto Exchange FTX Under Probe by State Securities Regulator

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Billionaire Sam Bankman-Fried’s crypto exchange platform is under investigation by the securities regulator of Texas for allegedly offering unregistered seucurities in the state. A court document related to crypto lender Voyager Digital’s bankruptcy reveals that the Texas State Securities Board’s enforcement division is investigating FTX. Joseph Rotunda, the director of the board’s enforcement division, says in a declaration that he transferred Ethereum (ETH) to an FTX account and has been earning yield on it. He argues that the exchange’s yield program appears to be an investment contract. “Based upon my…

Buffett-backed digital bank Nubank to launch its own cryptocurrency

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Jakub Porzycki | NurPhoto | Getty Images The Brazilian digital banking startup Nubank will launch its own cryptocurrency in the country next year, marking the latest move into digital assets by a large financial institution. Nubank said Wednesday it will launch the token, called Nucoin, in the first half of 2023. In a press release, the company touts Nucoin as “a new way to recognize customer loyalty and encourage engagement with Nubank products.” Nubank said it plans to offer discounts and other perks to holders of the token. “The project…

Bitcoin Added to the Guinness Book of World Records as the ‘First Decentralized Cryptocurrency’ – Bitcoin News

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Since 1955 Guinness World Records (GWR) has published a reference book annually that covers world records from extreme natural events to human achievements. This year, Bitcoin has entered the fray as the world’s first and most valuable cryptocurrency network as GWR has added the subject to this year’s annual records. Satoshi Nakamoto’s Bitcoin Enters the Guinness Book of World Records Satoshi Nakamoto’s cryptocurrency and blockchain network, Bitcoin, has received a number of accolades over the years, and it’s been recognized by mainstream media sources and traditional mediums. For instance, in…

How to build a cryptocurrency mining rig

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Cryptocurrency mining involves using a computer, or several computers, to validate transactions on a blockchain. Technically, these computers solve cryptographic equations and record data in a digital ledger. The more computers solving equations, the faster the blockchain can validate transactions. When miners verify the hashes of unconfirmed blocks, they receive a reward for each verified hash. Mining can be energy and computationally-intensive, requiring specialized hardware and crypto-mining software. Among the most mined (and most profitable) cryptocurrencies are Bitcoin (BTC), Monero (XMR), Ravencoin (RVN), and Dogecoin (DOGE). Ether (ETH) used to…

$740M in Bitcoin exits exchanges, the biggest outflow since June’s BTC price crash

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The amount of Bitcoin (BTC) flowing out of cryptocurrency exchanges picked up momentum on Oct. 18, hinting at weakening sell-pressure that could help BTC price avoid a deeper correction below $18,000. Bitcoin forming a “bear market floor” Over 37,800 BTC left crypto exchanges on Oct. 18, according to data tracked by CryptoQuant. This marks the biggest Bitcoin daily outflow since June 17, on which traders withdrew nearly 68,000 BTC from exchanges. Moreover, over 121,000 BTC, or nearly $2.4 billion at current prices, has left exchanges in the past 30 days. …

Binance’s Changpeng Zhao Addresses Reuters, Says Inaccurate Reports Targeting Crypto Exchange

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Binance CEO Changpeng Zhao (CZ) is speaking out on recent allegations in the media, saying that the exchange is being targeted with inaccurate and sometimes unethical reporting. In a new company blog post, CZ responds to a Reuters story published today that alleges the company has been dodging regulators in the US and UK. Zhao says that Reuters probed Binance prior to the story, and while CZ is happy to answer questions, the crypto billionaire says that the reporters signaled an attempt to report on his family and personal life.…

Ethereum-Based Altcoin Project Jumps After Crypto Exchange Coinbase Adds It to Listing Roadmap

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An Ethereum (ETH)-based altcoin is rallying following news that top US crypto exchange Coinbase has added the project to its listing roadmap. Lido DAO (LDO), a staking service for Ethereum and other blockchain projects, has seen more than a 16% price increase in the days following Coinbase’s announcement via Twitter. For transparency purposes, Coinbase adds projects to its listing roadmap as a precursor to making them available for trade on its exchange and announces the additions via Twitter. Lido DAO and its ERC-20 token LDO aims to allow users to…

USDC Trading Now Available on the Kinesis Exchange

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October 17, 2022 – London, United Kingdom Kinesis, the world’s leading gold and silver-based monetary system, has listed the fiat-based stablecoin, USD Coin (USDC) on the Kinesis Exchange. USDC is the fourth-largest cryptocurrency by market capitalization and the second-largest USD stablecoin in the cryptocurrency industry, with over 49 billion USDC tokens currently in circulation. Now live on the Kinesis Exchange, USDC will be tradeable against the US dollar, selected leading cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH) and Kinesis’ native gold and silver-based stablecoins, Kinesis Gold (KAU) and Kinesis Silver…

Crypto Exchange FTX US Under Investigation by Texas Regulator Over Securities Allegations

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“As more fully explained throughout this declaration, I am aware that FTX Trading, along with West Realm Shires Services Inc. dba FTX US (‘FTX US’), may be offering unregistered securities in the form of yield-bearing accounts to residents of the United States. These products appear similar to the yield-bearing depository accounts offered by Voyager Digital LTD et al., and the Enforcement Division is now investigating FTX Trading, FTX US, and their principals, including Sam Bankman-Fried,” Rotunda wrote. Source

What new EU sanctions mean for crypto exchanges and their Russian client

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Nine months into the conflict between Ukraine and Russia, sanctions against the latter have continued to grow at an aggressive pace. This time around, legislators for the European Union announced that they are introducing a complete ban on all cross-border crypto payments between Russia and its citizens.  To elaborate, a prohibition of all “crypto-asset wallets, accounts, or custody services, irrespective of the amount of the wallet” has now been initiated by the EU in response to Russia’s continued annexation of Ukrainian land, repeated mobilization of troops within the country and…