Tag: Exchange

Crypto.com to halt US institutional exchange service

Crypto.com has made the decision to discontinue its institutional exchange service for clients in the United States, with the suspension set to take effect on June 21. The Singapore-based cryptocurrency exchange attributed the move to a combination of limited demand from institutional customers and challenging market conditions. Leaving the U.S. CryptoTea, an anonymous figure known for its involvement in the cryptocurrency community, has raised an important observation regarding the Securities and Exchange Commission’s (SEC) recent actions.  Specifically, the SEC has explicitly mentioned multiple tokens traded on the Crypto.com platform as…

Binance.US Halts US Dollar Deposits Over Banking Challenges, Says It Will Temporarily Be a Crypto-Only Exchange

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Binance.US says that it will be halting US dollar deposits and withdrawals in response to being sued by the U.S. Securities and Exchange Commission (SEC). In a new announcement, Binance.US says it will temporarily become a crypto-only exchange platform due to the SEC’s “ideological campaign” against the US digital asset industry. “The SEC has taken to using extremely aggressive and intimidating tactics in its pursuit of an ideological campaign against the American digital asset industry. Binance.US and our business partners have not been spared in the use of these tactics,…

US-Based Crypto Exchange Kraken Officially Rolls Out New NFT Marketplace

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Crypto exchange Kraken is announcing that its new non-fungible token (NFT) marketplace is now available for the general public following months of testing the platform with a select group of users. The San Francisco-based firm rolled out the beta version of Kraken NFT in November, saying it would use user feedback during this phase to develop the platform. In a blog post published on Thursday, the exchange says the marketplace is officially ready to launch. “Since first opening Kraken NFT to beta testers, we’ve been building new features, adding more…

Crypto.com suspends US institutional exchange service

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Crypto.com will no longer serve institutional clients in the United States after announcing the suspension of the service from June 21. The Singapore-based cryptocurrency exchange cited limited demand from institutional customers as a primary reason for the move which has been exacerbated by testing prevailing market conditions. A statement from Crypto.com noted that the platform’s institutional users were given advance notice of the decision to suspend the service. Crypto.com’s retail mobile application and platform remains fully operational in the U.S. Related: Crypto​.com scores fresh regulatory approval in France American retail users…

Banks to cut off Binance access to U.S. banking system, exchange says

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SAN ANSELMO, CALIFORNIA – JUNE 06: In this photo illustration, the Binance logo is displayed on a screen on June 06, 2023 in San Anselmo, California. The Securities And Exchange Commission has filed lawsuits against cryptocurrency exchanges Coinbase and Binance for allegedly violating multiple securities laws. (Photo Illustration by Justin Sullivan/Getty Images) Justin Sullivan | Getty Images Binance.US customers will no longer be able to use U.S. dollars to buy crypto on the platform as early as June 13, hobbling the exchange’s ability to do business in the United States, after…

Two Senators Allege Binance Crypto Exchange Lied to US Congress, Ask Justice Department To Investigate: Report

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Two US Senators are reportedly asking the Department of Justice (DOJ) to investigate crypto exchange Binance for allegedly lying to Congress. According to a new report by Reuters, Democratic Senators Elizabeth Warren of Massachusetts and Chris Van Hollen of Maryland recently penned a letter to the DOJ claiming that Binance, the largest crypto exchange platform by volume, gave misleading information to Congress. The Senators allege that Binance lied to a panel of bi-partisan lawmakers earlier this year who were gathering information from industry leaders as they weighed possible new regulations.…

US Opposes Crypto Exchange Bittrex’s Customer Repayment Plan

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The United States has objected to a proposal by cryptocurrency exchange Bittrex to return customer cash and cryptocurrency as part of a process to window its operations in the country. Bittrex’s US arm filed for bankruptcy protection in May weeks after exiting the country over regulatory challenges. In the same month, the cryptocurrency exchange sought permission from the bankruptcy Bankruptcy Bankruptcy or insolvency constitutes a legal term and refers to being unable to repay debts. A business and a person can declare bankruptcy. When a person or company claims bankruptcy,…

SEC Seeks To Freeze Binance.US Assets Hours After Filing Lawsuit Against the Crypto Exchange

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Just a day after filing a 136-page complaint against Binance, the U.S. Securities and Exchange Commission (SEC) filed a motion for a temporary restraining order to freeze assets tied to the US arm of the world’s largest crypto exchange. On Monday, the SEC filed 13 charges against Binance and its CEO Changpeng Zhao over what the federal agency’s head, Gary Gensler, called “an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law.” After filing the lawsuit, the regulator on Tuesday submitted a new…

$1,280,000,000 in Crypto Yanked Out of Coinbase Amid SEC Lawsuit Against the US Exchange: On-Chain Data

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Blockchain data and research firm Nansen says that hundreds of millions of dollars exited the Coinbase group in the wake of a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). According to Nansen, Coinbase and the exchange’s custodial arm recorded negative netflows, the sum of deposits and withdrawals, of approximately $1.28 billion after the SEC move. “As we write, the SEC has announced that it is suing Coinbase. Looking at on-chain centralized exchange data, it shows that Coinbase + Coinbase custody have negative netflows of $1.28 billion.” Source:…