Category: Exchanges

Founder of Crypto Exchange Giant Huobi in Talks To Sell His Shares for Over $1,000,000,000: Report

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The founder of crypto exchange platform Huobi is reportedly looking to sell his shares of the Seychelles-based firm for a over billion dollars. According to a new report by Bloomberg, Huobi founder Leon Li is in talks with investors to sell about 60% of his stake in the company that’s seeking a valuation of $3 billion. According to the report, the sale of Li’s shares could amount to as low as $1 billion if Huobi is valued at the low-end of the range at $2 billion. Anonymous sources familiar with…

Ethereum Flying off Exchanges While Bitcoin Moves in the Opposite Direction: Crypto Analytics Firm IntoTheBlock

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Ethereum (ETH) is leaving crypto exchanges at a rapid rate this week, while Bitcoin (BTC) is moving in the opposition direction, according to Lucas Outumuro, the head of research at analytics firm IntoTheBlock. In a new analysis, Outumuro notes Ethereum recorded nearly $1 billion in net outflows over the past week, which he says suggests “strong buying activity” and points to potential accumulation. According to IntoTheBlock, net flow is measured by getting the amount of inflows of any crypto asset to centralized exchanges minus the outflows. Conversely, Bitcoin recorded weekly…

Embattled Crypto Futures Exchange Files for Restructuring Amid Ongoing Legal Battle

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Crypto futures exchange CoinFLEX is reportedly seeking court approval for a restructuring plan as it faces financial trouble following a substantial default by one of its customers. Citing an email sent to CoinFLEX creditors on August 9th, Fortune reports that the embattled firm filed to the Seychelles Supreme Court an application for the reorganization and restructuring of the company. CoinFLEX issues the notice in compliance with a court order and as prescribed by the IBC Act, Seychelles’ law governing international business companies (IBCs). “Notice is given to the creditors of…

Uzbekistan blocks access to foreign crypto exchanges over unregistered trading

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The government of Uzbekistan, which has previously made significant steps toward a moderate approach to crypto, announced Wednesday that it has restricted access to a number of large international crypto exchanges due to accusations of unlicensed activity.  In a statement from Aug. 10, the National Agency of Perspective Projects (NAPP) projects informed that “various electronic platforms” provide services for trade and exchange of crypto-assets without obtaining the required license in violation of the existing legislation and thus access to them was restricted. However, the tone of the statement suggested that…

Digital Assets Exchange Crypto.com Adds New Support for Surging, Under-the-Radar Altcoin

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Singapore-based digital asset exchange Crypto.com is continuing its listing spree and rolling out support for another red-hot altcoin. On Thursday, the exchange listed the native asset of Gnosis (GNO), a protocol built on Ethereum (ETH) that’s designed as a decentralized prediction market. GNO, which is used for transferring value and validating transactions on the Gnosis network, is trading at $182.10 at time of writing. The 113th-ranked crypto asset by market cap is up more than 1.5% in the past day and more than 17.5% in the past week. GNO is…

New Crypto Exchange Platform Bitflex Launches Futures Trading Competition with $15,000 Prize Pool – Press release Bitcoin News

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press release PRESS RELEASE. Seychelles, August 2022 – Bitflex Ltd., a secure crypto trading exchange currently specializing in crypto derivatives, has announced the launch of a new trading competition with a prize pool of $15,000. From August 5 to September 9, new and existing users on the Bitflex platform can participate in the event for a chance to win rewards. Trade More, Win More With up to 15,000 USDT worth of prizes, the Trading Competition is an important part of Bitflex’s vision to reward its early users and get new…

Uzbekistan Moves to Block Foreign Cryptocurrency Exchanges – Regulation Bitcoin News

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Authorities in Uzbekistan are restricting access to online crypto trading platforms based outside the country and not registered under its laws. A presidential decree obliges citizens and local companies to only use digital asset exchanges licensed by the government of the Central Asian nation. Uzbekistan Takes Steps to Prevent Crypto Trading and Custody on Foreign Platforms Uzbekistan’s National Agency of Perspective Projects (NAPP) has registered a spike in activities of online platforms providing crypto-related services to Uzbekistanis without the necessary license. The regulatory body says these facilitate trading of cryptocurrencies…

Coinbase Shares Drop As Crypto Exchange Reports $1.1 Billion Net Loss in Q2

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The price of Coinbase (COIN) is dropping after the publicly-traded crypto exchange operator reports losses of over $1 billion in the second quarter of the year. In its latest letter to shareholders, Coinbase says that from April to June 2022, the firm suffered a net loss of $1.1 billion, which includes $446 million in total non-cash impairment charges related to its crypto and ventures investments. “Absent these non-cash impairment charges, net loss would have been $647 million. In Q2 [the second quarter], Adjusted EBITDA [earnings before interest, taxes, depreciation, and…

Indian law enforcement accuses WazirX exchange of aiding in laundering of $130M

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India’s Enforcement Directorate (ED), the agency responsible for financial crimes, is looking at cryptocurrency exchanges suspected of processing transactions that sent more than 10 billion rupees, or about $130 million, from firms under investigation to international wallets. At least ten crypto exchanges are allegedly involved, according to an official who spoke to The Economic Times, and bank accounts of exchange WazirX have been frozen, the newspaper reported. Transactions of up to 1 billion rupees, or $1.3 million, were allegedly made in the names of people with no connections to the…

Zero Hash to Become a Digital Currency Exchange Provider in Australia

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Zero Hash Holdings, a digital asset services firm that enables neo-banks, broker-dealers and payment groups to offer digital asset offerings, has successfully registered to be a Digital Currency Exchange provider (DCE) in Australia. 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 registration was granted by the Australian Transaction Reports and Analysis Center (AUSTRAC), the Australian government financial intelligence agency. Zero Hash completed the registration under Zero Hash Australia Pty Limited, its…