Tag: Exchange

Venture Capital Arm of Crypto Exchange KuCoin Invests in Bitcoin (BTC) Layer-2 Project

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The venture capital division of the cryptocurrency exchange KuCoin is announcing an investment in Dovi, a Bitcoin (BTC) layer-2 solution that is compatible with the Ethereum Virtual Machine smart contract platform. Lou Yu, the head of KuCoin Labs, says the investment will assist Dovi in realizing its various product and market goals. On its commitment to the Bitcoin ecosystem, KuCoin Labs says, “KuCoin Labs will continue to focus on incubation, investing in the BTC ecosystem, and bringing the next BTC ecosystem phenomenon-level application to the industry. We welcome other BTC-native…

Crypto Exchange Binance Announces Upcoming Listing for New Low-Cap Altcoin Project

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Top global crypto exchange Binance is about to list a new gaming-related altcoin project, according to the company. In a new announcement, Binance says that it will add Fusionist (ACE) to its Launchpool platform, which allows users to stake coins in exchange for new ones. ACE is the native token of Endurance, a decentralized gaming and social blockchain, which Fusionist, a Web3 AAA game, will use as its mainnet. Staking of ACE is expected to start Wednesday, Binance says, and open trading of the altcoin could begin December 18th. When…

M&G invests $20m in UK’s first regulated Bitcoin derivatives exchange

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London-based global investment manager M&G Investments has injected $20 million into Global Futures & Options Holdings, positioning it as the first FCA-regulated and centrally-cleared trading venue for digital currency asset derivatives in the U.K. According to the Dec. 11 announcement, the strategic partnership, in collaboration with London Clearing House, aims to meet the increasing demand from institutional investors. Growing institutional interest  In a recent series B funding round, M&G’s Crossover strategy allocated capital from the $162 billion Prudential With-Profits Fund to Global Futures & Options Holdings (GFO-X). The investment underscores M&G’s…

UK asset manager M&G invests $20M in Bitcoin derivatives exchange

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The investment arm of UK-based pension fund M&G has invested $20 million in the country’s first regulated Bitcoin (BTC) derivatives exchange, Global Futures & Options Holdings (GFO-X). An announcement from M&G and GFO-X outlined the details of the investment, which forms part of a $30 million Series B funding round for the derivatives exchange. The platform will initially offer clearing of Bitcoin index futures and options contracts. The move provides a platform for traditional finance institutions to gain exposure to a variety of cryptocurrency derivatives investment products. GFO-X is set…

Crypto exchange HTX see outflows top $258M following exploit

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Crypto investors have been moving their assets away from crypto exchange HTX (formerly known as Huobi) following a Nov. 22 exploit that saw the exchange pause its services and lose a total of $30 million.  Between Nov. 25 — the day that HTX resumed its services — and Dec. 10, the exchange witnessed some $258 million in net outflows, according to data from DefiLlama. HTX witnessed $258 million in net outflows between Nov. 25 and Dec. 10. Source: DefiLlama DefiLlama data shows HTX’s reserves comprise 32.3% Bitcoin (BTC) and 31.8%…

Crypto Exchange Founder Pleads Guilty to $700,000,000 Unlicensed Money Transmitting Charges: DOJ

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Former crypto exchange CEO Anatoly Legkodymov has pleaded guilty to federal charges for his role in illegally transporting and transmitting hundreds of millions of dollars worth of illicit funds. The U.S. Department of Justice (DOJ) says that Legkodymov, the founder of crypto exchange Bitzlato admitted to operating an unlicensed money-transmitting business at a Brooklyn federal court this week. The DOJ says that Bitzlato became a haven for criminal proceeds and funds because the firm did not implement proper know-your-customer (KYC) procedures. The exchange also allegedly facilitated more than $700 million…

Maximizing efficiency, examining benefits of crypto exchange aggregators

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. The growing popularity of cryptocurrencies and the expansion of the possibilities for their use led to the emergence of specialized services that exchange digital coins for other coins or fiat money. This is an analog of traditional online currency conversion points. Indeed, the convenience and speed of functioning of cryptocurrency exchangers significantly facilitated the conduct of complex coin transactions. However, until 2018, these resources were characterized by inflated rates.…

Exchange Supply Hits Lowest Level Since 2017

On-chain data has revealed an increasing sentiment of holding Bitcoin among investors. Bitcoin has been on a roll since the start of the month, pushing its price to new yearly highs. At the same time, exchange data from CryptoQuant reveals that the crypto might be gearing up for a sustained bull run. According to the on-chain analytics platform, Bitcoin’s exchange supply, the amount available for purchase on exchanges, has dropped to its lowest levels since 2017  Exchange Supply Drops To Lowest Level In Six Years The Bitcoin market is flashing…