Tag: Exchange

Top US Crypto Exchange Coinbase Introduces New On-Chain Payments Protocol

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Top US-based crypto exchange platform Coinbase is announcing a new on-chain payments protocol. In a new company blog post, Coinbase says that it’s setting a new standard for on-chain payments that will make them cheaper and faster for consumers. According to Coinbase, the open-source update will ensure “clarity, reliability, and a consistent experience for all users,” greatly enhancing the payment process for both merchants and customers. “At Coinbase we believe that on-chain is the new online. Just like the internet broke down barriers, democratized access to information and made knowledge…

Former FTX Employee Sues Bankrupt Crypto Exchange Seeking $275,000 in Unpaid Bonus: Court Docs

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A former FTX employee who was hired to work with the fallen crypto empire’s charity wing is taking legal action to get his unpaid 2022 bonus. In a new court document filed on November 13th, Ross Rheingans-Yoo says that FTX still owes him $275,000 of the $650,000 that he was supposed to receive as a bonus last year. “The Debtors paid Rheingans-Yoo $375,000 cash out of his $650,000 first-half 2022 bonus on or around September 15, 2022. However, the Debtors did not pay the remaining $275,000 in cash.” The filing…

Binance to launch Thai exchange in joint venture with local energy giant

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Binance will publicly roll out a Thailand-based crypto exchange in early 2024 via a joint venture with local energy giant Gulf Energy Development. A Nov. 15 Stock Exchange of Thailand filing by Gulf Energy said the venture, called Gulf Binance, will initially be available on an invitation-only basis with a public rollout by early 2024, with the firm receiving Securities and Exchange Commission approval on Nov. 10. A Binance spokesperson confirmed to Cointelegraph that the platform has initially launched as an invitation-only exchange and would give more details as information…

Exchange Inflows Hit $1.2 Billion In Past Month

On-chain data shows exchanges have registered Bitcoin deposits of about $1.2 billion in the past month. Bitcoin Exchange Supply Has Seen A Significant Increase In The Past Month As explained by analyst Ali in a new post on X, exchanges have seen hefty inflows recently. The relevant indicator here is the “balance on exchanges,” which keeps track of the total amount of Bitcoin in the wallets of all centralized exchanges. When this metric’s value rises, these platforms are receiving a net amount of deposits right now. Generally, one of the…

Bankrupt Crypto Lender Celsius Moves Over $10,000,000 Worth of Ethereum (ETH) To Exchange: On-Chain Data

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An address associated with failed crypto lending platform Celsius has moved millions of dollars worth of Ethereum (ETH) to an exchange, according to on-chain data. Citing data obtained from blockchain explorer Etherscan, on-chain data tracker Lookonchain says that Celsius moved 5,160 ETH worth approximately $10.49 million to institutional crypto trading platform FalconX. According to Lookonchain, Celsius, which filed for bankruptcy in July of 2022, possibly “wants to sell some assets with the rising prices.” Source: Etherscan Ethereum is trading at $2,033 at time of writing, up by nearly 80% year-to-date.…

Poloniex crypto exchange resumes withdrawals after $100M hack

Justin Sun’s cryptocurrency exchange Poloniex is preparing to resume operations after suffering a major hack in mid-November, according to an official company announcement posted on Nov. 15 In the statement, the company said that the platform has “mostly completed” the restoration efforts after the $100 million hack. “The platform is now operating smoothly,” Poloniex said in its most recent update on the resumption of deposit and withdrawal services. The exchange has enlisted a “top-tier security auditing firm” to enhance the security of funds on Poloniex and is preparing to resume withdrawals soon,…

Kevin O’Leary Says New Crypto Exchange Will Compete With Binance, Become the Largest Ever To Be Regulated

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Shark Tank star Kevin O’Leary says a new crypto exchange is coming that will take business away from the industry’s leading giants. In a new interview with Fox Business, the venture capitalist says the days of the “crypto cowboy” are long gone. O’Leary says that a new firm based in Abu Dhabi called M2 will become the largest “regulated” crypto exchange in the world, backed by billions in capital with connections to large institutional players. “The age of the crypto cowboy, those days are over… We have the pending announcement,…

Hong Kong’s crypto exchange OSL receives $90m in funding

BGX Group will invest 710 million HK in BC Technology Group, the parent company of Hong Kong’s first licensed crypto exchange, OSL.  BGX Group, a division of the Bitget exchange, has recently declared its intent to invest in BC Technology Group. This company is notably recognized as the parent corporation of OSL, Hong Kong’s first licensed digital currency exchange. BGX’s investment in BC Technology is particularly interesting because Shawn Liu, the founder of Bitget, currently holds the largest share in BC Technology. Earlier this week, Bitget withdrew its application to…

Crypto Exchange Bithumb Gearing Up To Go Public on Korean Stock Market: Report

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A South Korean-based cryptocurrency exchange is reportedly planning to conduct an initial public offering (IPO) in 2025. In a new report, South Korea’s business publication Edaily says that Bithumb, which began operations in 2014, plans to go public in the second half of 2025. According to the report, Bithumb has picked Samsung Securities, a subsidiary of the Samsung Group, as the IPO’s underwriter. While Bithumb has yet to confirm its plans to go public, the firm told Edaily that “it is true that we have selected an underwriter.” Funding appears to…

Cryptocurrency Exchange OKX Coming Out With Layer 2 ‘X1’ Built on Polygon Technology

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Polygon’s CDK is currently in the mix for consideration for Kraken’s layer 2, according to people familiar with the matter, but Polygon Labs Chief Executive Officer Mark Boiron said he doesn’t think the announcement about X1 – the result of a major deal with a big exchange competitor – would scuttle its prospects. “If anything, frankly, it should be more attractive, including to exchanges,” Boiron told CoinDesk in an interview. Source