Coinbase has launched a global cryptocurrency derivatives exchange days after disclosing that it was going offshore with a Bermuda license. The US-based digital asset exchange said the new platform is only open to only eligible, non-US institutional traders. The new platform on Tuesday listed Bitcoin (BTC) and Ether (ETH) perpetual futures contracts, Coinbase said in a blog post, adding that the platform currently only offers 5x leverage, with all trades settled in stablecoin USD Coin (USD). It’s official! Coinbase International Exchange is here. Institutional traders in eligible non-US jurisdictions now…
Tag: Exchange
Decentralized Exchange Maverick Rolls Out Liquidity Incentives for Price Stability
The tool offers more efficient incentives than competitors like Curve Finance’s rewards and can help pegged assets such as stablecoins, liquid staking derivatives keep their prices more stable, the protocol said. Source DecentralizedExchangeIncentivesLiquidityMaverickPriceRollsStability CryptoX Portal
Coinbase Opens Offshore Crypto Derivatives Exchange
“Rest assured that Coinbase is committed to the U.S., but countries around the world are increasingly moving forward with responsible crypto-forward regulatory frameworks to strategically position themselves as crypto hubs,” Coinbase said in a blog post. “We would like to see the US take a similar approach instead of regulation by enforcement which has led to a disappointing trend for crypto development in the U.S.” Source
Coinbase International Exchange launches amid SEC crypto crackdown in the US
As the cryptocurrency industry faces regulatory challenges in the United States, public crypto exchange Coinbase is moving forward with a global derivatives platform. On May 2, Coinbase announced the launch of the Coinbase International Exchange (CIE), a new institutional platform designed for crypto derivatives trading. The CIE will start trading by listing Bitcoin (BTC) and Ether (ETH) perpetual futures later this week. All trading on the CIE will be settled in Coinbase-backed stablecoin USD Coin (USDC), requiring no fiat on-ramps. Coinbase stressed that direct access trading on CIE is available to…
Crypto Exchange Bullish and Market Maker B2C2 Team up to Provide Liquidity to Institutional Clients
“This partnership seamlessly aligns the business objectives of both organizations by allowing Bullish’s unique liquidity to be delivered to B2C2’s large breadth of clients through fast execution, reliable trades, and transparent pricing,” he added. Source
DCG-owned crypto exchange Luno loses a top global exec
DCG, Luno’s parent company, has been grappling with the ongoing fallout from last year’s plunge in token prices and the collapse of FTX. Rafael Henrique | Sopa Images | Lightrocket via Getty Images Vijay Ayyar, a senior executive at cryptocurrency exchange Luno and one of its earliest employees, is leaving the company. Ayyar, who is Luno’s vice president of corporate development and international, resigned from the firm after seven years working there, he told CNBC Tuesday. It comes after the company, which is owned by Digital Currency Group, announced the…
3AC founders run into fresh trouble in Dubai over new exchange OPNX
The co-founders of failed crypto hedge fund Three Arrow Capital, Su Zhu and Kyle Davies, have run into fresh trouble over operating and promoting their new digital-asset exchange OPNX without the required local license in Dubai. According to a report published in Bloomberg, Dubai’s Virtual Assets Regulatory Authority (VARA) sent a written notice to Zhu and Davies along with two other executives of OPNX. The digital asset regulatory body, in a statement to Bloomberg, said they are still investigating the activities of the newly found exchange and reportedly assured corrective…
3AC Founders’ OPNX Bankruptcy Claims Exchange Formally Reprimanded by Dubai Crypto Regulator VARA
The letter was sent on April 18 to OPNX’s Kyle Davies and Su Zhu, who are also the founders of 3AC, after two cease-and-desist orders for marketing the exchange to residents of Dubai and the United Arab Emirates were issued by the regulator in February and March. Source
Aussie crypto exchange kicks off US expansion despite ‘regulatory risk’
Australian crypto exchange Coinjar is seeking to put its boots on the ground in the United States, with its CEO seemingly unfazed by the market’s “regulatory risk.” In an interview with The Australian on May 1, Coinjar CEO and co-founder Asher Tan said he saw opportunity despite a recent wave of U.S. crypto firms sounding alarm bells over the government’s approach to regulation. “Where other exchanges see regulatory risk, we see opportunity,” he said, adding: “We’ve always understood that regulation has a key role to play in crypto’s future and…
Crypto Exchange Poloniex Agrees to $7.6M Fee to Settle Sanctions Violation Charges
“Although Poloniex made efforts to identify and restrict accounts with a nexus to Iran, Cuba, Sudan, Crimea and Syria pursuant to its compliance program, certain customers apparently located in these jurisdictions continued to use Poloniex’s platform to engage in online digital asset-related transactions,” OFAC said. Source