Cryptocurrency exchange Binance delisted three Serum (SRM) trading pairs on Friday as the fallout from FTX’s collapse continues. Source
Crypto Exchange Binance Delists Serum Trading Pairs Amid FTX Connection
Tag: Exchange
5A Crypto Exchange Announces $5M Fund to Support Global Users
5A crypto exchange has established a 5 million USDT fund to support global users”during this challenging period in the crypto industry,” the company said Monday. Earlier this month crypto exchange FTX filed for bankruptcy, triggering a domino effect across the already-troubled industry, prompting other firms to warn of worsening liquidity crunches. Therefore, 5A crypto exchange is trying to turn the industry tumult of the past few weeks into an opportunity. The crypto market has lost two-thirds of its value in a year and has been roiled by the collapse of…
Latam Based Cryptocurrency Exchange Ripio Expands to US – Exchanges Bitcoin News
Ripio, an Argentina-based cryptocurrency exchange, has announced that it will expand its operations to the U.S. The company, which serves more than 4.5 million customers in Latam, received a license in the state of Florida to operate and will start offering its Ripio Select services to companies and institutional investors. Ripio Expands Operations to US Ripio, one of the largest exchanges in Latam, with more than 4.5 million customers on the continent, has announced it will expand its operations to the U.S. The company obtained a license granted by the…
Crypto Exchange OKX Launches New Proof-of-Reserves System Allowing Users To Verify Their Assets
Crypto exchange OKX is launching a new proof-of-reserve system that enables customers to verify their digital assets. The Seychelles-based firm says the OKX Proof of Reserves (PoR) will provide a means for users to verify that their funds are backed 1:1 by real assets. “At OKX, we hold a 1:1 reserve of all customer assets on our platform and pride ourselves on our long-standing reputation for best-in-class security. Now, we’re empowering you with greater transparency than ever before through PoR, a common cryptographic audit.” OKX is launching its first PoR…
Low-Cap Altcoin Jumps After Surprise Announcement From Crypto Exchange Binance
The price of a little known altcoin is surging after getting support from Binance, the world’s largest crypto exchange platform by volume. The trading platform’s mining pool service, Binance Pool, is adding Ravencoin (RVN) to its catalog of crypto assets as the Ethereum (ETH) merge in September spurred interest in the altcoin due to its proof-of-work (POW) consensus mechanism, which leaves room for mining. Crypto miners could no longer mine the leading smart contract platform after it switched to proof-of-stake (POS) mechanism, causing a spike in demand for proof-of-work tokens…
Argentine Crypto Exchange Lemon Sheds Roughly 100 Jobs, Citing Challenging Industry Conditions
Lemon had planned to deploy almost the entire amount on its expansion in Brazil. Given the current context, its move into the South American country will be “more strategic and niche,” Cavazzoli said. The exchange put plans to expand into Chile, Colombia, Ecuador, Peru and Uruguay by the end of 2022 on the back burner. Source
Russia Prepares to Create Government-Controlled Crypto Exchange – Exchanges Bitcoin News
Lawmakers in Russia are drafting legislation that would allow the establishment of a “national cryptocurrency exchange,” local media unveiled. Coins now circulate outside of government oversight and the Russian state is losing budget revenues in the billions of rubles, pointed out one of the participants in these efforts. Legislators Want Russia to Have Its Own Cryptocurrency Exchange Members of the State Duma, the lower house of Russia’s parliament, are working on a legal framework that will enable the authorities in Moscow to set up a Russian crypto exchange. The deputies…
Crypto Self-Custodying Offers Protection Amid FTX Exchange Fallout
Many crypto exchanges have failed in the past, losing client funds and causing many people to lose the money they had on the exchange. Crypto exchanges failing, unfortunately, is not an uncommon event in crypto, but the scale of fraud and mismanagement with FTX is unprecedented. These recent events have caused many in traditional finance to lose faith in the future of crypto, put tremendous downward pressure on crypto prices and lead many to call for further regulation in the crypto markets. Source
UAE regulator revokes FTX license amid the exchange collapse
As the FTX debacle still creates waves in the crypto industry and beyond, the Dubai Virtual Assets Regulatory Authority (VARA) has suspended the license which allows FTX to make preparations to service the local market. In an announcement posted on its official website, VARA mentioned that it has revoked the approval of FTX MENA’s Minimum Viable Product (MVP) license. Citing the bankruptcy filing of FTX-related entities including FTX exchange and Alameda Research, VARA confirmed that FTX MENA’s license was suspended before any clients were exposed. According to the regulator, FTX…
Crypto Exchange Bybit Announces $100M Fund to Support Institutional Clients
Bybit, the 35th largest exchange by trading volume according to CoinMarketCap, joins Binance, the largest, in trying to turn the industry tumult of the past few weeks into an opportunity. The crypto market has lost two-thirds of its value in a year and has been roiled by the collapse of large market participants. Source