Tag: Exchange

3AC founders fined by Dubai regulator over OPNX exchange

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The founders of the collapsed digital asset hedge fund Three Arrows Capital (3AC) Kyle Davies and Su Zhu are now facing a fine issued by Dubai’s dedicated crypto regulator over the OPNX exchange.  On Aug. 16, Dubai’s Virtual Asset Regulatory Authority (VARA) published a notice of fines for the OPNX Exchange. The regulator said that it has issued a fine of 10 million dirhams, around $2.7 million for violations of its market regulations, and noted that the fine remains unpaid. Excerpt of the document posted by Dubai’s crypto regulator. Source:…

Sei token valued at $1.8B after beta launch, exchange listings

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Layer one trading blockchain Sei Network has reached a fully diluted valuation of $1.8 billion on the initial day of token listing. On August 15, major exchanges such as Binance, Bybit and Bitget jointly listed the network’s native token (SEI). On Binance, the token opened at $0.064 apiece before surging as high as $0.48. It currently trades at $0.18 at the time of publication. The total supply is 10 billion SEI and the initial supply is 1.8 billion SEI.  The same day, Sei launched the beta phase of its mainnet.…

Regulatory Pressure Shakes Dasset Crypto Exchange

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Pressure on cryptocurrency firms does not seem to decrease. Their condition is not helped by the prolonged consolidation of major assets or the tightening regulatory screws by governmental financial institutions in the USA and Europe. Problems are also visible in Australia and New Zealand, where the Dasset exchange has gone into liquidation, and customers cannot retrieve their funds. Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into the new age of crypto! According to information published yesterday (Monday) by the…

First EU spot Bitcoin ETF hits Euronext Amsterdam exchange

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The London-based digital asset management firm announced that its new investment product was going live on the Euronext Amsterdam stock exchange on Aug. 15, more than a year later than its planned launch in 2022. The Jacobi FT Wilshire Bitcoin ETF is now trading. Source: Euronext Amsterdam. As previously reported by Cointelegraph, the offering was touted as the first spot or physical-backed Bitcoin fund which would allow investors to gain exposure to a financial product that is physically backed by BTC. The new ETF is set to trade under the…

New Zealand crypto exchange Dasset enters liquidation

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Customers of Auckland, New Zealand-headquartered crypto exchange Dasset have been denied access to their funds, and the company’s representative has revealed the beginning of its liquidation.  On Aug.14, local media outlet The Herald reported on the exchange’s troubles. According to the report, some customers have unsuccessfully tried to withdraw their funds for months. Speaking to journalists, the company’s CEO, Stephen Macaskill, explained that Dasset didn’t find a banking provider after its previous provider stopped working with the exchange in January 2023. Macaskill also revealed that the company had launched voluntary liquidation.…

Coinbase Says Canada Is Its Next ‘Go Deep Market’ As Crypto Exchange Announces New Expansion

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US-based crypto exchange giant Coinbase is announcing its official expansion into the market of North America’s second-largest economy. In a new blog post, Coinbase announces its official launch in Canada while promoting a premium trial program for new Canadian customers. “Coinbase announces its official entry into the Canadian market, backed by the integration of Interac payment rails, with leading banking and payment partners, enabling seamless fund transfers, and the introduction of Coinbase One – a 30-day trial offering zero trading fees, enhanced staking rewards, and priority support for Canadian users.”…

Crypto Exchange Txbit Announces Closure Amidst Regulatory Challenges and Market Trends

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Crypto exchange Txbit has said in a statement that it’s going to permanently shut down operations due to uncertain regulatory landscapes and unfavorable market conditions. The exchange cited the escalating costs of compliance and continuous pressure on product margins as key contributors to its inability to sustain profitability, media reports said. “In light of rising compliance expenses and persistent pressure on our product margins, the viability of maintaining our current operations has become unsustainable,” the official announcement stated, reflecting on the evolution of the crypto exchange industry. “While our journey…

US Senator Files Amicus Brief Supporting Coinbase, Says Court Should Dismiss SEC Lawsuit Against Exchange

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A pro-crypto US Senator is filing an amicus brief in favor of Coinbase, saying that the court should discard the U.S. Securities and Exchange’s (SEC) lawsuit against the crypto exchange. In a new court filing, Republican Senator Cynthia Lummis of Wyoming asks the court to toss out the SEC’s lawsuit against Coinbase, which alleges that the top US crypto exchange sold unregistered securities. According to Lummis, the SEC’s enforcement actions are “out of step” with the efforts of lawmakers to create a clear regulatory framework for the crypto industry. “Crypto…

Did XRP Price Really Hit $50 On Gemini Exchange

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On August 10, the price of XRP inexplicably spiked for a brief moment on the Gemini exchange. For a moment, the price of XRP reached an astounding $50 per coin before quickly crashing back down to the same level on spot markets on other exchanges. Brief Price Surge On Gemini According to various posts on social media platform X (formerly known as Twitter), it would seem that Gemini experienced a technical issue that caused the XRP price displayed on their exchange to show an erroneous price of $50. During that…