Category: Exchanges

South Korean police request exchanges freeze LFG related funds

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Crypto exchanges in South Korea have been issued notices from police requesting the sequestering of funds related to the Luna Foundation Guard.  On May 23rd, 2022, Korean authorities sent a request to the top crypto exchanges in the country to prevent funds from being withdrawn. Specifically, the Seoul Metropolitan Police Agency asked to prohibit the Luna Foundation Guard from taking any action. The police claim that clues have been found that may link the organization to embezzlement. The Luna/Terra algorithmic stablecoin crash, which reduced the value of the coin by…

Korean Authorities To Interrogate Crypto Exchanges About TerraUSD (UST) Collapse: Report

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South Korean officials plan to question representatives from the country’s five largest crypto exchanges about the recent Terra (LUNA) collapse. According to a new report from local news outlet Newspim, Korea’s ruling party will hold an emergency meeting with representatives from Upbit, Bithumb, Coinone, Korbit and Gopax to discuss the ramifications of LUNA’s $40 billion implosion. Says Yoon Chang-Hyeon, a member of South Korea’s ruling party and chairman of the parliament’s special virtual assets committee, “We will check [the exchanges’] investor protection measures.” The planned emergency meeting follows news that LUNA…

South Korean Crypto Exchanges Warn on Litecoin Transactions

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Bithumb and Upbit, two major South Korean cryptocurrency exchanges, have issued warnings on Litecoin (LTC) over confidential transactions performed on its latest update. Both exchanges cited South Korea’s Act on the Reporting and Use of Specific Financial Transaction Information, a policy requiring crypto exchanges to conduct  know-your-customer (KYC  Know Your Customer (KYC) Know Your Customer (KYC) is the process via which the broker is verifying the true identity of its clients in order to comply with multiple regulations. KYC is used to assess the suitability of customers when it comes…

Crypto exchange FTX quietly shops for brokerage start-ups amid move into stock trading, sources say

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Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images FTX has been on the hunt to buy brokerage start-ups as the crypto exchange expands into stocks, and its CEO takes a major stake in Robinhood. The Bahamas-based company has approached at least three privately held trading start-ups about an acquisition, according to sources familiar with those negotiations, who asked not to be named because the deal talks were confidential. The discussions were…

Weekly Ethereum Exchange Outflows Hit $5.7 Billion

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Crypto exchanges witnessed a sharp surge in Ethereum outflows during the past week as nearly $5.7 billion worth of ETH left prominent digital asset trading platforms. During the mentioned period, inflows came in at $4.8 billion. According to Glassnode’s data, Ethereum whales accelerated the movement of the world’s second-most valuable digital currency from crypto platforms to digital wallets. As far as the ETH network is concerned, the total number of ETH whales has increased in the recent market correction. 290,162 Ethereum addresses now hold at least 10 coins, the highest…

Bitcoin Held on Trading Platforms Continues to Drop Lower, Over 68% of the Total Held by 5 Exchanges – Bitcoin News

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Amid the market carnage tied to Terra’s recent fallout, bitcoin sent to exchanges saw a brief spike on May 7, jumping more than 2% higher from 2.481 million to 2.532 million bitcoin. Despite the recent increase of bitcoin sent to trading platforms, the number of bitcoins on exchanges today remains lower than ever before. Bitcoin Continues to be Taken Off Exchanges Bitcoin (BTC) continues to be removed from centralized cryptocurrency exchanges as the number is much lower than the lows that were recorded on November 15, 2020. 248 days earlier,…

Cryptocurrency Can Potentially Complement Mobile Money Argues Kenyan Banker – Emerging Markets Bitcoin News

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The CEO of one of Kenya’s biggest lenders has argued there is a possibility cryptocurrencies will complement mobile money in Africa but first, there is a need to convince regulators of their benefits. African Regulators’ Stance on Crypto Cryptocurrencies can potentially complement mobile money in Africa if regulators on the continent are made to change their perceptions of the digital currencies, the boss of one of Kenya’s biggest lenders has said. According to James Mwangi, CEO of Equity Group Holdings Plc, central banks first need to be convinced of the…

Crypto Exchange FTX Launches Zero-Fee Stock Trading Platform for US Customers

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Crypto exchange FTX is jumping into equities trading, launching the beta phase for FTX Stocks. The Bahamas-based exchange has launched FTX Stocks, offering trading and investing in hundreds of US exchange-listed securities, including common stocks and exchange-traded funds (ETFs). The platform is integrated into FTX’s existing trading app and is available for select US customers who were selected from a waitlist. FTX CEO Sam Bankman-Fried says the exchange’s new equities trading platform won’t charge any fees. “We’re opening stock trading with no Payment for Orderflow and no fees. So what…

Moscow Exchange Reports Dip in FX Activity for April 2022

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Moscow Exchange (MOEX) published its trading volumes for April 2022 today and witnessed a substantial drop in foreign exchange (FX) trading activity. For the whole month, FX trading volumes reached RUB 22 trillion, compared to RUB 34.2 trillion in April 2021. As far as the average daily trading volume is concerned, the figure came in at RUB 1,049 billion, compared to RUB 1,553 billion in April 2021. Additionally, the derivatives market witnessed a significant drop in activity as the trading volume dipped from RUB 13.8 trillion in April 2021 to…