Category: Exchanges

Q2 2022 Cryptocurrency Report Highlights Terra’s Collapse and Capital Exiting the Crypto Ecosystem – Bitcoin News

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On July 13, the dedicated crypto price tracking, volume, and market capitalization web portal Coingecko published the company’s “Q2 2022 Cryptocurrency Report” which discusses the last quarter’s crypto market action and insights. The 46-page report explains how the Terra UST and LUNA fallout wreaked havoc on the entire crypto ecosystem and the stablecoin economy. Moreover, Coingecko researchers say “a decrease in the stablecoin market share suggests that a certain amount of capital has completely exited the crypto ecosystem.” Coingecko’s Data Suggests Q2 Investors Exited Stablecoins Rather Than De-Risking Into Them…

FTX May Acquire Leading South Korean Exchange Bithumb

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FTX, the leading crypto trading platform, is in advanced talks to buy Bithumb. Allegedly, both companies have been in discussions for several months, and yet there are no deals confirmed.  Along with Upbit and Coinone, Bithumb is one of the top centralized South Korean-based crypto exchanges. It currently lists 188 cryptocurrencies and was established in 2014.  In terms of daily trading volume in late November 2021, it has reached over $3 billion, according to data from CoinGecko. Currently, the value has dropped down to around $558 million. Multiple crypto companies…

Ethereum (ETH) Flying off Exchanges Amid Price Surge This Week, According to Crypto Analytics Firm Glassnode

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Glassnode says Ethereum (ETH) is flying off exchanges at record rates as the crypto markets rebound this week. The crypto analytics firm notes that exchanges this week had a one-day moving average net outflow of 65,319.938 Ethereum, an all-time high. The previous all-time high for that metric was 58,072.356 ETH, which was set all the way back in May 2016. ETH is trading for $1,576 at time of writing. The second-ranked crypto asset by market cap is up nearly 3% in the past 24 hours and more than 31% in…

Taiwan Bans Cryptocurrency Purchases with Credit Cards

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Taiwan’s financial regulator, the Financial Supervisory Commission (FSC), is setting the ground to ban the use of credit cards for the purchase of digital currencies within its jurisdiction. 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. As reported by Forkast, the regulator asked banks and credit card companies not to partner with cryptocurrency service providers as merchants. The FSC already issued a letter to the banking association earlier this month. The FSC…

Digital Assets Exchange Crypto.com Adds Support for Two Surging Altcoins

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Singapore-based digital asset exchange Crypto.com is rolling out support for two surging, low-cap altcoins. The crypto exchange listed the native token of Marlin (POND), an open protocol offering network infrastructure for decentralized internet and decentralized finance (DeFi). Marlin uses incentives to attract more applications and platforms to join the network. The POND token is used in staking and for governance. POND is trading for $0.013 at time of writing. The 416th-ranked crypto asset by market cap is up 14% in the past 24 hours and nearly 20% in the past…

Thailand’s Oldest Lender Delays Bitkub Exchange Acquisition Amid Tighter Crypto Rules – Exchanges Bitcoin News

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The company that owns Thailand’s Siam Commercial Bank has postponed a deal to acquire a majority stake in Bitkub, the country’s largest cryptocurrency exchange. The decision comes amid tightening crypto regulations that limit growth in domestic crypto trading. SCB Postpones Acquisition of Thai Crypto Exchange Bitkub The parent company of Siam Commercial Bank, SCB X, has delayed a 17.85-billion-baht ($487 million) bid to acquire 51% of the largest crypto exchange in Thailand, Bitkub. The bank, which is the kingdom’s oldest lender, postponed the deal indefinitely as Thai regulations continue to…

Turkish crypto exchange joins COPA to fight against ‘patent trolls’

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Major Turkish crypto exchange BtcTurk has joined the crypto patent alliance (COPA) to team up with prominent firms in their mission to provide open access to patents and empower the adoption of crypto technologies.  COPA aims to abolish patents as it’s perceived as an obstacle to innovations within the sector. The nonprofit favors a more communal approach when it comes to intellectual property. Its members include prominent crypto firms like prominent firms like Coinbase, Block and Aquarius. Apart from crypto-native companies, firms like Microstrategy and Meta have also joined COPA.…

Trade Republic, Crypto.com Register as Cryptocurrency Operators in Italy – Bitcoin News

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German investment platform Trade Republic and digital asset exchange Crypto.com have registered as crypto service providers in Italy. Since February, the financial authorities in Rome maintain a registry for all cryptocurrency platforms permanently operating in the country. More Companies Register as Providers of Crypto Services in Italy Germany-based investment platform Trade Republic and Singapore-headquartered digital currency exchange Crypto.com announced their registrations as crypto operators in Italy on Tuesday, Reuters reported. The news comes after other major crypto platforms like Binance, the world’s largest exchange by trading volume, and leading U.S.…