Category: Exchanges

Runaway Thodex Crypto Exchange CEO Arrested in Albania, Turkey Says

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The Turkish Ministry of Internal Affairs announced on Tuesday that 28-year-old Faruk Fatih Ozer, Founder and CEO of folded Turkish cryptocurrency exchange Thodex, has been arrested in Albania. 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 ministry said Fatih was rounded up in Vlorë, a city in Southern Albania, after he was found through his biometric identification. The government ministry further noted that the process to extradite Fatih to Turkey has…

SIX Swiss Exchange Sees 1.3% Turnover Gain in Aug after 2-Month Fall

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SIX Swiss Exchange, Europe’s third-largest stock exchange and top post-trade service provider, has reversed the two-month decline its previously recorded in its total trading turnover. 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 stock exchange’s turnover reached CHF 78.3 billion in August, which is a 1.3% month-over-month (MoM) gain from the CHF 77.2 billion it posted in July. On the contrary, the total number of transactions made on the exchange declined…

Over Half of All Daily Bitcoin Trading Volume on Crypto Exchanges Are Bogus, According to New Forbes Study

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The majority of Bitcoin daily trading volume on exchanges is fake, according to a new report from Forbes. Forbes examined 157 crypto exchanges around the world and concluded that more than half of the exchanges’ reported Bitcoin (BTC) trading volume “is likely to be fake or non-economic.” Trading volume data is likely inflated due to wash trading, a practice that’s used to manipulate markets and to pump up the appearance of marketplace activity. Wash trading is when an investor will simultaneously sell a financial instrument and then buy it back,…

Billionaire Sam Bankman-Fried Says FTX Crypto Platform Has No Plans To Acquire Rival Exchange Huobi

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FTX chief executive Sam Bankman-Fried says his firm has no plans to acquire Seychelles-based crypto exchange platform Huobi. Bloomberg reported earlier this month that Huobi founder Leon Li was in talks with investors to sell his roughly 60% stake in the company. Anonymous sources “familiar with the matter” told Bloomberg that Sam Bankman-Fried and Tron founder Justin Sun were among the people who showed interest in purchasing the shares. Sun, however, promptly denied “engaging in any matters” relating to the Bloomberg story. The Huobi corporate Twitter account responded to Sun’s…

Two Ethereum-Based Altcoins Jump After Crypto Exchange Coinbase Announces Support

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Leading US crypto exchange Coinbase is officially rolling out trading services for two digital assets that were recently added to its listing roadmap. In a new announcement, Coinbase says that Aurora (AURORA) will be available accompanied by the “Experimental” label, which the exchange applies to “assets that are either new to our platform or have relatively low trading volume compared to our broader crypto marketplace.” Aurora was designed by the team behind the layer-1 scaling solution Near Protocol (NEAR). As an Ethereum Virtual Machine (EVM), Aurora is fully compatible with…

XDC Trading Is Now Available on the Kinesis Exchange

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August 31, 2022 – London, United Kingdom Kinesis, the world’s leading gold and silver based monetary system, has listed the XDC coin on the Kinesis Exchange. XDC will be tradeable against eight fiat pairs, including USD, GBP and EUR, alongside Kinesis’ native gold and silver based stable coins, KAU and KAG. Users can instantly trade their XDC against physical gold or silver on the exchange to start earning a yield on their assets through Kinesis’ array of yield products. XDC will be spendable on the Kinesis virtual card alongside the…

How cryptocurrency could help tackle global income inequality

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Over the past few decades, the inequality of wealth distribution globally has become all the starker. For example, as of 2022, the top 10% of Americans hold nearly 70% of US wealth. This means that 90% of the country only takes home 30% of the wealth. South Africa is another example, with the top 10% taking home 65% of the wealth. Many citizens also lack access to general banking as well as high-class financial services (i.e., services limited to accredited investors) that are readily available to the more well-off residents.…

Busan City announces FTX partnership to build local exchange

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South Korea’s second-largest city Busan has announced a partnership with crypto trading platform FTX to build a local crypto exchange and foster blockchain development. Sam Bankman-Fried’s FTX will assist in creating the Busan Digital Asset Exchange as per an official statement from the Busan Metropolitan City on Aug. 30. The Bahamian-based firm will also support the city in fostering the growth of the local blockchain industry. Busan City will make use of FTX’s technology and infrastructure to establish its own cryptocurrency exchange. FTX is also set to be involved in promoting…

Wanted Turkish crypto exchange founder detained in Albania

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The saga of the defunct Turkish crypto exchange, Thodex, continues as its fugitive founder is now in custody in Albania. Local law enforcement detained Faruk Fatih Özer in an operation carried out at 05:30 AM (UTC) on Tuesday, Aug. 30, in the country’s capital city Tirana. According to a report by Cointelegraph Turkey, Özer is currently held in custody. After initial questioning, the Turkish embassy in Tirana will be informed by local authorities. Both the Turkish Ministry of Internal Affairs and the Albanian government are working together on the case. Özer…