Tag: Exchange

Crypto Exchange OKX Reveals $10,400,000,000 in Bitcoin (BTC), Ethereum (ETH) and USDT Reserves

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Crypto exchange OKX is revealing a combined $10.4 billion worth of Bitcoin (BTC), Ethereum (ETH) and the stablecoin Tether (USDT) in the platform’s reserves. According to OKX chief marketing officer Haider Rafique, the platform is committed to releasing monthly digital asset proof of reserves audits. He also says customers are able to see at any time audited proof that their crypto assets are 1:1 backed. OKX’s most recent August 25th audit shows the exchange is holding more BTC, ETH and USDT than the platform’s users are holding. According to the…

SEC Files ‘Secret’ Sealed Motion in Court Battle Against Top Crypto Exchange Binance

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The U.S. Securities and Exchange Commission (SEC) is seeking the court’s approval to submit confidential documents related to the regulator’s lawsuit against the crypto exchange Binance. On Monday, the SEC filed a sealed motion for leave to file documents under seal. If granted, the agency will be allowed to file sensitive or confidential information with the court that will be kept off the public record. John Reed Stark, former chief of the SEC’s Office of Internet Enforcement, says filing court documents under seal is a rare move by the SEC…

Analysts Observes Drop in Bitcoin Exchange Outflows Indicate Long-Term Holder Confidence

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Bitcoin held on centralized exchanges declined 4.1% reduction in August, CryptoQuant data revealed. This decline in holdings could signify a growing sense of investor confidence in the digital currency, analysts said. According to CryptoQuant data, centralized cryptocurrency exchanges concluded August with a total of 2,010,346 Bitcoin, representing an 86,305 Bitcoin decrease from the beginning of the month. This marks the lowest recorded reserve level since January 2018. This diminishing supply of Bitcoin stored on exchanges implies a heightened level of investor trust in the long-term potential of Bitcoin. Alternatively, it…

Bitcoin accumulation continues, exchange holdings hit 5-year low

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Long-term Bitcoin (BTC) holders are accumulating more coins, reading from the decreasing balances on top exchanges. On Aug. 31, data from Glassnode, a blockchain analysis firm, reveals that the amount of “HODLed” or lost coins was at a five-year peak at 7.841 million BTC, or $213 billion. The count of HODLed or lost coins involves tracking Bitcoin balances that have remained untouched for an extended period. This calculation involves subtracting the “liveliness” from one and then…

Only Exchange with Monthly PoR Since FTX’s Fall

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After the high-profile collapse of the cryptocurrency exchange FTX in November 2022, the industry began looking for solutions to assure investors that centralized trading platforms are safe. This led to the idea of creating Proof of Reserves (PoR) to show the current state of a given exchange’s capital reserves. OKX has just published its tenth consecutive PoR report, showing $10.4 billion in reserves in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into…

Nigeria’s Patricia crypto exchange seeks to explain its token amid confusion

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The announcement of Patricia Token (PTK) by Nigerian crypto exchange Patricia was greeted by users with scepticism and some suspicion, as they took to social media to question the motives behind the move. Now, in a response to that reaction, the crypto exchange company has released a white paper seeking to explain the intended function of the Patricia Token. According to the released white paper, the Patricia token is not a stable coin but a debt token, issued to customers to manage users’ debt. Patricia said that it will operate similarly…

Hong Kong’s first licensed retail crypto exchange HashKey eyes 2024 bull run

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Hong Kong retail cryptocurrency traders now have access to a locally based cryptocurrency exchange, with HashKey Exchange launching retail trading services to users in China’s special administrative region on Aug. 28. The company was previously permitted to serve professional and institutional investors before being granted Type 1 and Type 7 licenses by the Hong Kong Securities and Futures Commission (SFC) on Aug. 3. This paved the way to becoming the first licensed retail exchange in Hong Kong.  Figures from Hong Kong’s treasury, banking, accounting and Web3 ecosystem marked the launch of retail trading…

Bitcoin Bullish Signal: Exchange Netflow Remains Negative

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On-chain data shows the Bitcoin exchange netflow has remained at negative values recently, which could play in the favor of the asset. Exchanges Have Been Seeing Net Bitcoin Outflows Recently An analyst in a CryptoQuant Quicktake post explained that investors have been withdrawing their coins from exchanges recently. The relevant indicator here is the “exchange netflow,” which measures the net amount of Bitcoin currently moving into or out of the wallets of all centralized exchanges. The metric’s value is calculated as the outflows subtracted from the inflows. When this indicator’s…

Indian Crypto Exchange CoinSwitch Lays Off 44 Employees from Customer Support Team

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Indian cryptocurrency exchange CoinSwitch laid off 44 employees, about 7% of its total headcount, from its customer support team. The team still has about 82 members. The layoff took place about three weeks ago but came to light only recently, media reports said. Since April, CoinSwtich recruited about 60 people, mostly in product tech and compliance. Before the layoff, the crypto trading platform had 640 employees. A news report in Money Control quoted CoinSwtich’s spokesman saying customer queries have reduced significantly with plunging trading volumes, creating redundancy in the customer…