“The blockchain technology behind Mercado coin allowed us to develop an open and extremely secure solution,” Guilherme Cohn, senior manager of corporate development, said in a statement. “We continue to follow the evolution of cryptocurrencies and blockchain technology, as we believe in the potential of these tools.” Source
“Through such prestigious collaborations, we are creating win-win partnerships for partner brands and also the users through real-world rewards and perks,” Chief Marketing Officer Shiti Ragosti told CoinDesk. “STEPN also realizes its mission of taking the world of Web3 to wider sporting communities through these collaborations and partnerships onboarding more users.” Source
Canada-based crypto exchanges Bitbuy and Newton are enforcing a $30,000 (CAD) annual “buy limit” for “restricted coins” for their users based in Ontario in order to “protect consumers” amid tightened regulations. Newton, a Toronto-based crypto exchange announced the new changes come after working on getting registered with the Ontario Securities Commission and the securities regulatory authorities in other provinces and territories of Canada, noting in an Aug. 16 post: “These changes are to protect crypto investors, like yourself, and to make sure investors are aware of the risks associated with investing in…
Coinbase chief product officer Surojit Chatterjee says he’s confident his exchange can beat out its top competitors. In a new interview on the Unchained Podcast, Chatterjee says competition is good for the crypto space and spurs innovation. “In terms of why we think we are in a good place, I think, first, our focus on trust. That we want to be the most trusted option for customers, period. And that comes from our investment in security, preventing hacks, compliance, and this is a lot of investment for many years. You…
According to a recent study conducted by the University of Technology Sydney, researchers estimated that insider trading occurs in 10% to 25% of cryptocurrency listings. In deriving the conclusion, researchers first sampled 146 token listing announcements on cryptocurrency exchange Coinbase between September 25, 2018, and May 1, 2022. Afterward, researchers examined the price movements of the sampled tokens in the time interval of 300 hours before Coinbase listing announcements up until 100 hours after the announcement, on various exchanges. The hypothesis was that if insider trading was involved, tokens that…
And, indeed, there have already been allegations of insider trading at Coinbase. In July, the U.S. Department of Justice charged a former Coinbase product manager, his brother and their friend with wire fraud and insider trading. The trio were accused in that case, which revolved around tokens including TRIBE and ALCX, of making $1.5 million illicitly. Source
The Nasdaq-listed firm Eqonex is closing its cryptocurrency exchange business. The company cited high competition among crypto trading platforms and fallen volumes as key reasons for shutting down its exchange. Eqonex Closing Crypto Exchange Eqonex Ltd. (Nasdaq: EQOS), a digital asset financial services company, announced the closing of its spot and derivatives cryptocurrency exchange Monday. The announcement states: The company will proactively exit the crowded crypto exchange space by closing the exchange. The Eqonex exchange will close for trading on Aug. 22 at 8 a.m. (UCT) and for withdrawals on…
Crypto exchange Binance has been granted preliminary approval to offer trading and custody services for digital assets in Kazakhstan. The exchange is yet to complete the full application process but the development has already been hailed as a landmark achievement for the company in the Central Asian nation which only recently took steps to regulate coin trading. Binance Receives Regulatory Approval From Kazakhstan Authorities Kazakhstan’s Astana Financial Services Authority (AFSA), the regulatory body that oversees the Astana International Financial Center (AIFC), has issued a temporary license approval to the world’s…
Public pension funds in the United States are still showing interest in digital assets despite the crypto market downturn, according to a Wall Street Journal report. The report says that investment firms such as VanEck have received inquiries on crypto investing from public pension funds across the US in the last few years. Likening the current state of crypto assets to consumer internet technology in the early years, the Texas Association of Public Employee Retirement Systems’ executive director, Art Alfaro, says cryptocurrency is an “asset class which should not be…
Around the world, personal financial stress is peaking. A recent study in America found that more than three in four people feel anxious about their financial situation. This is seeding anti-risk mentalities and prompting fears around the safety of long-term savings, including retirement funds. However, that shouldn’t mean hiding money under the floorboards. Nor should it necessarily mean handing over the reins to a low-growth pension fund, which at current rates of inflation, are likely to be losing value. It means being smarter about assessing all options and diversifying. And…