Category: Exchanges

IMF global financial stability report sees complex roles for cryptocurrency, DeFi

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According to the International Monetary Fund’s Global Financial Stability report released Tuesday, the war in Ukraine — following hard on the heels of the coronavirus pandemic — has led to a tightening of global financial conditions. Rapid changes in fintech and the uses and misuses of cryptocurrency play into the jumble of challenges facing the global economy. According to the report, the pandemic and war have led to accelerated “cryptoization” in emerging markets, due to increased speculative interest during the pandemic and then attempts to evade sanctions. Given compliance within…

Cryptocurrency Companies May Face New Fees in New York

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New York may soon require licensed crypto firms to pay assessment fees. The New York Senate passed by 2023 budget on 9 April, granting the New York Department of Financial Services (NYDFS) to charge additional fees from crypto companies. Take Advantage of the Biggest Financial Event in London. ‘The expenses of every examination of the affairs of any person regulated pursuant to this chapter that engages in virtual currency business activity shall be borne and paid by the regulated person so examined, but the superintendent, with the approval of the…

Crypto exchange CoinDCX raises $135M funding to support Indian Web3

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Crypto exchange CoinDCX became India’s first crypto business to complete a Series D funding round, raising $135 million in support of various Web3 and crypto initiatives in the country.  The latest funding round resulted in CoinDCX doubling its valuation to $2.15 billion, which was led by Pantera and Steadview and saw participation from prominent investors including Kingsway, DraperDragon and Republic. Existing investors such as B Capital Group — a VC firm from Facebook co-founder Eduardo Saverin — Coinbase, Polychain and Cadenza also joined in on the oversubscribed funding round to…

Kevin O’Leary-backed WonderFi to acquire Canadian crypto exchange Coinberry for $38.5M

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WonderFi Technologies, a decentralized finance (DeFi) platform, plans to continue its expansion in Canada by purchasing the Coinberry crypto exchange for $38 million. The platform will be the second regulated crypto exchange under WonderFi once the acquisition is finalized.  The firm recently closed its acquisition of Bitbuy’s parent company First Ledger Corp. for $162 million. In an interview, Kevin O’Leary mentioned that there will be “several more and even bigger” acquisitions that are on the way.  O’Leary also highlighted that the company is competing on the global stage while making…

WonderFi Acquires a Second Cryptocurrency Exchange in Canada

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WonderFi Technologies acquires Coinberry, a regulated cryptocurrency exchange in Canada (pending regulatory approval). The definitive agreement is to acquire Coinbery for $25.54 million. Take Advantage of the Biggest Financial Event in London. The acquisition is pending regulatory approval. Coinberry was founded in 2017 and has over 200,000 clients in Canada. Over $1 billion crypto transactions were made at Coinberry to this date. The crypto exchange offering trade in 29  cryptocurrencies  Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised…

Bitcoin․com Exchange Market Insights Report for April 2022 – Promoted Bitcoin News

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This is the inaugural monthly market insights report by Bitcoin.com Exchange. In this and subsequent reports, expect to find a summary of crypto market performance, a macro recap, market structure analysis, and more. Crypto market performance In late March, BTC tested $48,000, a key resistance level which had not been reached since September last year. After failing to push through, the marquee crypto saw a reversal to the $40-42,000 level. This had been acting as new support, notably higher than the previous support of $36-38,000 seen in the first quarter…

Crypto Exchanges in India Explore P2P Payments to Bypass UPI

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Following the NPCI statement regarding Unified Payments Interface (UPI), some Indian crypto exchanges have reverted to peer-to-peer (P2P) transactions. Take Advantage of the Biggest Financial Event in London. Coinbase was among the first to suspend UPI. When a user at the crypto  exchange  Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange…

Top Crypto Exchange Coinbase Hit With Class-Action Lawsuit

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Top US-based crypto exchange platform Coinbase is being targeted in a class-action lawsuit that alleges its arbitration policies are unenforceable. In a recent court filing, a plaintiff alleges that Coinbase’s arbitration agreement within its terms of service is legally unconscionable because it heavily favors one side. “Under California law, a contract provision is unenforceable if it was ‘unconscionable at the time it was made.’ … [The plaintiff] does not contest that he agreed to be bound by the Coinbase user agreement in effect when he signed up for his user…

Bitcoin Whale Transactions Spike As $1,046,164,730 in BTC Leaves Crypto Exchanges in Just 24 Hours

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Bitcoin (BTC) whales are making moves as over $1 billion in BTC has flowed out from crypto exchange platforms over the last 24 hours. According to data from crypto insights firm Santiment, deep-pocketed BTC investors have been making over 4,000 transactions per day this week, each over at least $1 million, after hitting a low of around 2,300 transactions per day in early April. “Bitcoin is seeing a continued steady supply of ~4,000 whale transactions exceeding $1 million Monday through Friday, mild slowdowns on weekends.” Source: Santiment/Twitter Santiment says that…