Category: Exchanges

Chinese Airlines Are Taking Off from U.S. Exchanges

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Airplane crash at sea sunset   Analysts are seeing state-controlled Chinese airlines as the next potential group to depart, possibly followed by internet giants. And while Chinese tech giants were always expected to bear the main brunt of the delisting from American exchanges, the likelihood of airlines joining that group has been an unexpected development. With Chinese state-owned companies dealing in commodities, real estate, and infrastructure slated to leave U.S. bourses, the next group of firms that are speculated to be on the chopping block from America’s markets are China’s…

Australian Securities Exchange takes step towards tokenized asset trading

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Companies on the Australian Securities Exchange (ASX) could be able to trade tokenized bonds, equities, funds, or carbon credits after a successful proof-of-concept trial led by the digital asset investment platform Zerocap. On Monday, Melbourne-based digital asset investment platform Zerocap told Cointelegraph it had successfully used Synfini to bridge over its custody infrastructure onto the platform as part of a trial program, allowing for the trading and clearing of Ethereum-based tokenized assets. The trial is part of ASX’s distributed ledger technology (DLT)-based settlement project Synfini which was launched in November.…

Cryptocurrency Advocacy Group Says Regulators Overstepped Authority by Sanctioning Tornado Cash

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Crypto advocacy group Coin Center is looking into challenging the U.S. Office of Foreign Assets Control (OFAC) over Tornado Cash sanctions in court. Coin Center communications director Neeraj K. Agrawal said on Monday that the group believes “OFAC has exceeded its statutory authority by sanctioning the Tornado Cash smart contract.” “We believe OFAC has exceeded its statutory authority by sanctioning the Tornado Cash smart contract. Coin Center is exploring a court challenge.” In Coin Center’s analysis of the case, the non-profit argues Tornado Cash has no control over its application. “Tornado Cash Entity…

S&P Global Knocks Down Coinbase Credit Rating After Exchange Posts $1.1 Billion Net Loss in Q2: Report

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Ratings agency S&P Global has reportedly knocked down the credit rating of Coinbase (COIN) after the crypto exchange revealed its financials for the second quarter of this year. According to Seeking Alpha, the S&P downgraded Coinbase’s credit rating largely due to its weak performance from April to June 2022. In a letter to shareholders last week, Coinbase revealed that it suffered a net loss of $1.1 billion during the period, which includes non-cash impairment charges that the company suffered when the value of its crypto and venture investments dropped. As…

Exit stage left — Eqonex to close crypto exchange after two years

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Nasdaq-listed digital asset investment firm Eqonex has announced it will be exiting the “crowded crypto exchange space” by shuttering part of its operations. In a Monday announcement, Eqonex said it will close trading on its crypto exchange on Aug. 22 while users will be allowed to withdraw funds until Sept. 14. The firm said the closure was part of an effort to streamline operations that focused on offering “the most potential for revenue growth and long-term financial sustainability,” which included its asset management and custody services at Digivault. “Closing the…

Blockchain Services Firm Eqonex Closes Crypto Exchange, Citing Volatility and Dwindling Volume

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“As a young and maturing financial services business, our resource allocation needed to change to reflect the current market conditions and the opportunities that we are best placed to capture,” Eqonex CEO Jonathan Farnell told CoinDesk via email. “We are exiting underperforming businesses that no longer fit within our future strategy to focus on areas that will accelerate our growth.” Source

Revolut Gains CySEC’s Approval to Offer Cryptocurrency Services

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Digital bank Revolut has been authorized by CySEC CySEC The Cyprus Securities and Exchange Commission (CySEC) is a financial regulatory authority of Cyprus. CySEC is one of the key watchdog authorities for brokerages in Europe, whose financial regulations and operations comply with the European MiFID financial harmonization law.Founded in 2001, CySEC is instrumental in providing licensing and registration for forex brokers and previously binary options providers.CySEC is responsible for a variety of different functions, which includes the supervision and control of the Cyprus Stock Exchange as well as transactions executed…

EQONEX Announces Plan to Exit Crypto Exchange Space

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Nasdaq-listed EQONEX today announced that the company is planning to exit the ‘crowded’ crypto exchange space. EQONEX is shutting down the exchange to focus on other key business segments. 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. According to an official announcement shared by the company, EQONEX aims to focus on asset management and custody. The Nasdaq-listed firm noted that the closure of the exchange will improve its financial position and free…

Crypto Exchange BTC-e Operator Vinnik Reportedly Denied Bail in US, Maintains Innocence – Bitcoin News

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Alexander Vinnik, the alleged owner and operator of the infamous cryptocurrency exchange BTC-e, has been found not eligible for release on bail in the United States, where he was recently transferred from Greece. The Russian, accused of large-scale money laundering through the now-defunct trading platform, and other crimes, rejects U.S. charges. Alexander Vinnik Remains in California Prison, Russian Embassy Offers Help Authorities in the United States have effectively denied release on bail for the IT specialist Alexander Vinnik, Russian media reported, quoting his record on the website of the Santa…