Tag: Exchange

Crypto exchange Bullish announces termination of SPAC deal, citing SEC practices

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Bullish, a crypto firm that came to public attention in July 2021 for seemingly being unclear on what products or services it was offering, has announced the termination of a deal aimed at taking the company public. In a Dec. 22 announcement, Bullish said it had reached a mutual agreement with Far Peak Acquisition to no longer merge in a deal for a listing on the New York Stock Exchange. Bullish chair Brendan Blumer, also the CEO of Block.one, cited the United States Securities and Exchange Commission’s work to “lay…

Exchange Inflows, Outflows At A Stalemate As Bitcoin Refuses To Budge

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Bitcoin is still struggling below $17,000 and centralized exchange inflows and inflows seem to be mirroring the trend of the digital asset. Over the last 24 hours, the net flows from exchanges have been seeing a near balance between inflows and outflows. Balancing Each Other Out The exchange net flows reported by Glassnode show barely any difference between the amounts flowing into and out of exchanges. For bitcoin, it recorded $538.6 million worth of BTC flowing into exchanges and $557.4 million flowing out for the same time period. This brought…

SEC Calls FTT Exchange Token a Security

“If demand for trading on the FTX platform increased, demand for the FTT token could increase, such that any price increase in FTT would benefit holders of FTT equally and in direct proportion to their FTT holdings,” the SEC wrote in its complaint. “The large allocation of tokens to FTX incentivized the FTX management team to take steps to attract more users onto the trading platform and, therefore, increase demand for, and increase the trading price of, the FTT token.” Source

Five Bitcoin Wallets Linked to Collapsed Crypto Exchange Mysteriously Awaken After Years of Inactivity: On-Chain Data

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Five Bitcoin wallets associated with the now-defunct crypto exchange QuadrigaCX moved 104 Bitcoin (BTC) worth $1.75 million for the first time in years, according to an on-chain researcher. Pseudonymous on-chain sleuth ZachXBT points out the development to his 339,400 Twitter followers. Five wallets attributed to QuadrigaCX unexpectedly moved ~104 BTC on Dec 17 for the first time in years. 1ECUQLuioJbFZAQchcZq9pggd4EwcpuANe1J9Fqc3TicNoy1Y7tgmhQznWrP5AVLXj9R1MhgmGaHwLAvvKVyFvy6zy9pRQFXaxwE9M1HyYMMCdCcHnfjwMW2jE4cv9qVkVDFUzVa1JPtxSGoekZfLQeYAWkbhBhkr2VEDADHZB — ZachXBT (@zachxbt) December 19, 2022 The on-chain researcher notes one of the wallets sent about 69 BTC ($1.16 million) to the Bitcoin mixing service Wasabi. A crypto mixing service…

Australian Crypto Exchange Swyftx Shelves $1.5bn Merger with Superhero

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Brisbane-based cryptocurrency exchange, Swyftx, and shares trading and superannuation platform, Superhero, have abandoned a merger deal they agreed to earlier in June. The deal was supposed to create “a $1.5 billion financial services giant” through the integration of platforms. Grab your copy of our latest Quarterly Intelligence Report for Q3 2022 before your competitors and stay up-to-date with crucial developments in the Forex and CFD industry! Announcing the deal in June, Swyftx described it as “a historic merger that will create the country’s first digital and traditional finance powerhouse.” However,…

Binance joins lobbying group as criticism of the exchange ramps up

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Binance has joined the Chamber of Digital Commerce, a United States crypto industry lobbying group, according to a Dec. 20 press release from the exchange. The move comes after Binance has been criticized for allegedly being unregulated. Binance’s vice president of public affairs Joanne Kubba expressed hope that the partnership would help lead to clear regulations for the crypto industry in the U.S., stating: “As an organization at the crux of the industry’s rapid growth and complex regulatory environment, working hand in glove with policymakers, regulatory bodies and industry groups…

Gleec BTC Exchange Acquires BlockTane to Move into Brazilian Market

Gleec has also dived into El Salvador, the country that was ranked as the first in the world to legalize Bitcoin back in September 2021. Estonia’s crypto trading platform Gleec BTC Exchange has announced its acquisition of Blocktane, a Brazilian digital currency exchange as it makes strategic plans to deepen its push into the Latin American market. According to a Press Release shared with Coinspeaker, Gleec BTC Exchange’s acquisition of Blocktane involves the trading firm’s legal entity, brand name, and online domains. The deal will also see the management of…

Staggering $3,200,000,000 in Stablecoins Exit Crypto Exchange Binance in 30 Days: Analytics Firm Glassnode

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Leading analytics firm Glassnode says billions of dollars worth of stablecoins are being withdrawn from top crypto exchange Binance. Glassnode says that Binance has witnessed $3.2 billion in combined outflows of Tether (USDT), USD Coin (USDC), Binance USD (BUSD) and Dai (DAI) in a 30-day period. Source: Glassnode/Twitter Based on Glassnode’s chart, Binance’s net outflows of dollar-pegged crypto assets this month appear to be the highest rate of stablecoin withdrawal in nearly three years. Traders and investors have been taking off crypto assets from digital asset exchanges following the high-profile…

Busan city drops global crypto exchanges from its digital exchange plans

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Busan, the blockchain city of South Korea, has moved a step closer to forming a local crypto exchange, but it has dropped most of the global centralized exchange partners. The drastic decision comes in the wake of the recent colossal failure of centralized exchanges. The city announced the steering committee comprising 18 local blockchain experts but none of the five exchanges that had agreed earlier this year to assist the city in establishing its first official digital asset exchange. The five exchanges included Binance, Crypto.com, Gate.io, Huobi Global and FTX.…