Prior to this news, Bitget already had a presence in Latin America, with operations in Argentina, Colombia, Mexico and Venezuela. In June, the exchange announced that it planned to double its global workforce to reach 1,000 employees by the end of 2022. Source
Burning flames from the FTX collapse continue as damages spread throughout the crypto market and industry. FTX is left to themselves as other firms cannot assist due to the magnitude of debts incurred by the exchange. Binance initially intended to help but later acknowledged that the situation was beyond its power. Meanwhile, the latest reports have revealed that the embattled crypto firm has filed for Chapter 11 Bankruptcy. The FTX crisis has plunged many crypto firms into debt and losses, including Huobi’s subsidiary, Hbit Limited. Hbit Limited revealed in an…
Crypto.com CEO Kris Marszalek says his exchange operates differently than FTX, the digital asset trading platform that famously imploded last week. In a new interview, Marszalek says his exchange’s focus on the retail part of the business distinguishes it from Sam Bankman-Fried’s embattled company. “Essentially there are two business models in the cryptocurrency space, right? One is the brokerage model, where our platform, for example, is a counterparty to the transaction, and every time our users buy or sell crypto, we immediately hedge the other position to have zero market…
The Hong Kong exchange shuttered activity Sunday blaming turbulent markets, but has denied exposure to Sam Bankman-Fried’s now-defunct FTX Source
“If we are able to inject additional capital by the end of this week, AAX should be able to resume services as usual,” the exchange said. “If AAX is unable to secure funding to enable us to restart operations, AAX is committed to initiate legal procedures to secure and ensure the distribution of assets.” Source
The Japanese cryptocurrency exchange Liquid is the latest company to halt withdrawals amid the ongoing crisis of centralized crypto exchanges. The FTX-owned crypto exchange Liquid took to Twitter on Nov. 15 to officially announce a suspension of fiat and crypto withdrawals on its Liquid Global platform. Addressing the reasons for the suspension, Liquid cited compliance with the requirements of voluntary Chapter 11 proceedings in the United States, noting: “Due to the Chapter 11 filing by FTX Trading International, the ultimate beneficial owner of Quoine Pte. Ltd, Liquid Exchange (Quoine Pte.)…
The Japanese exchange lost $90 million in an attack in 2021. Source
The FTX hacker that drained over $450 million worth of assets just moments after the doomed crypto exchange filed for bankruptcy on Nov. 11, continues to drain assets from the exchange, four days after the hack was first flagged. Crypto analytic firm Certik, in a tweet, noted that the hacker wallet is still draining crypto assets from the wallets associated with the FTX and FTX.US. The FTX hacker wallet currently holds $62 million worth of assets. Since Nov. 12 the hacker wallet has received and swapped 3.2 billion meme tokens…
Bernstein says there needs to be a distinction made between the centralized custodial players in crypto, namely the exchanges, custodians, and crypto banks, as this is where regulation is coming. This will involve rules around maintaining reserves and uniform accounting for custodial firms, the broker said. Governments and regulators may also increase their scrutiny of offshore exchanges, where regulations are lighter, it added. Source CollapseCryptoEnronExchangeFTXLehman CryptoX Portal
The collapse of cryptocurrency exchange FTX has put industry peers under the microscope with calls for transparent accounts of token holdings and assets under management. Major cryptocurrency exchanges like Binance, Huobi, OKX and Crypto.com have made efforts to share details of their assets and portfolios to assuage the wider space. This comes after investor confidence has been shaken, with users across the ecosystem moving Bitcoin (BTC) and other tokens off exchanges to avoid potential contagion from the FTX fallout. Blockchain analytics platform Nansen provides industry insights and is known for…