Tag: Exchange

Bitstamp crypto exchange to raise funds for global expansion: Report

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Bitstamp, one of the world’s longest-running cryptocurrency exchanges, is moving forward with its global expansion ambitions, reportedly working to raise new funds to scale operations. Crypto exchange Bitstamp started the fundraising process in late June, with Michael Novogratz’s Galaxy Digital Holdings acting as an adviser, Bloomberg reported on Aug. 7. The firm plans to use the raised capital to launch derivatives trading in Europe in 2024 and expand several of its served markets in Asia. Bitstamp is also looking to scale its services in the United Kingdom, the report notes.…

Crypto Exchange Bitstamp in Discussions for Raising Funds: Bloomberg

“Bitstamp is not for sale, and we are not actively looking to sell the company,” Jean-Baptiste Graftieaux, its CEO, said in a statement to Bloomberg. “Our current and exclusive priority is to raise money through strategic investors to accelerate Bitstamp’s growth by providing new products and services to retail and institutional crypto customers. Source

TRON’s Justin Sun’s Reassures Crypto Community That Huobi Exchange Is Solvent

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In a recent development, Justin Sun, founder of popular blockchain Tron, has urged people to disregard speculations that the crypto exchange Huobi is facing severe challenges following news of the alleged detention of some of the platform’s officials.  The rumors appear to be a major contributing factor to why the firm experienced multi-million withdrawals during the weekend, while Tron’s Total Value Locked (TVL) has fallen below $2.5 billion.  Trouble In Paradise? Over the past weekend, cryptocurrency exchange Huobi experienced massive outflows worth about $64 million amid reports that Chinese authorities…

Mango Markets, Crypto Exchange Atop Solana Blockchain, Sees Legal Bills Swell a Year After Alleged $116M Heist

According to the website Realms, there’s about $89 million in the Mango DAO treasury, but most of that is denominated in MNGO tokens, and the market for those might not be liquid enough to sell them quickly and easily. Project insiders say that the main source of funding would likely come from a $15.3 million stash of dollar-linked stablecoins within the Mango Dao treasury, primarily denominated in USDC. Source

Huobi Denies Executive Arrest Reports as Exchange Witnesses Outflow Surge

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Prominent cryptocurrency exchange Huobi has refuted claims that its executives have been arrested in China. Over the weekend, news reports suggested that Chinese authorities had detained several Huobi executives. Meanwhile, increased outflows from the platform have been observed, media reports said. According to data provided by Nansen.ai, Huobi’s stablecoin exchange balances have contracted by 33% within the past week. Traders have withdrawn approximately $49 million from the platform in stablecoins. Colin Wu from Wu Blockchain had previously hinted at the detention and investigation of senior Huobi executives by Chinese police.…

Chancer Announces BitMart Exchange Listing as Presale Races Past $1m Mark

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Chancer, one of the most exciting new crypto projects in 2023, has raced past the significant $1 million fundraising milestone. This coincides with the announcement that their first exchange listing will take place on BitMart – a hugely popular exchange with users in over 180 countries with a trading volume of over $500 million per day. Those interesting in getting involved at the current price can do so at $0.011 before it rises by 9% to $0.012 in Stage 3 of the presale. Chancer’s CEO, Adam Kelbie, commented: “We’re thrilled…

3AC-linked exchange bids $30m to acquire troubled Holdnaut

Founders of the defunct hedge fund Three Arrows Capital (3AC) are actively promoting their newly launched digital asset exchange, OPNX, as they seek to acquire struggling cryptocurrency lender Hodlnaut. OPNX aims to rescue Hodlnaut with an infusion of funds amounting to $30 million in FLEX digital tokens traded on the CoinFlex exchange. Hodlnaut, which operates in Singapore and Hong Kong, has been undergoing a court-monitored reorganization due to financial troubles. The tokens, owned by OPNX co-founders Mark Lamb and Sudhu Arumugam, will facilitate a partial payout to creditors, effectively concluding…

OPNX exchange bids for crypto lender Hodlnaut in Singapore

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Crypto lender Hodlnaut appears to have found a white knight investor to exit its bankruptcy proceedings. According to a Bloomberg report, OPNX exchange has made an offer to take over 75% of the company. The deal would see a capital injection of nearly $30 million worth of FLEX tokens into Hodlnaut to partially cover creditors’ payout and outstanding claims. According to CoinMarketCap, FLEX is trading at $7.16 as of this writing, bringing the capital injection to nearly $215 million. Hodlnaut’s restructuring is being overseen by a Singapore court. If approved…

Crypto Exchange Binance Announces Addition of Shiba Inu (SHIB) As Collateral Asset for Flexible Loans

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The world’s largest crypto exchange platform by volume has announced support for memecoin Shiba Inu (SHIB) as a collateral asset for one of its loan programs. In a new company statement, Binance says that it’s adding SHIB, alongside a handful of other altcoins, as collateral to its flexible loan feature. Binance’s flexible loans allow users to take out loans collateralized by cryptocurrencies without needing to commit to a specific loan term for the duration of the loan. Other digital assets included in the loan program as supported collateral include blockchain-based…