Tag: Exchange

Crypto Exchange Coinbase Germany Ordered by Regulator to Tackle “Organizational Deficiencies”

The Federal Financial Supervisory Authority, known as BaFin, said Coinbase Germany was in violation of standards set by the German Banking Act. The announcement referenced Section 25a (1) of the Act, which lays out requirements for firms to maintain risk-bearing capacity, adequate staffing, emergency management mechanisms such as IT systems and transparent remuneration systems for employees – including management. Source

Crypto Exchange Coinmetro Seeks US And Europe Expansion Amid Bearish Market

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With the increasing adoption and acceptance of crypto assets, more crypto-related firms and service providers are rising. Also, they are taking their expansion visions in the sector very seriously. However, crypto industry regulations have placed limitations on some firms’ goals. Most top-tier regulators require the fulfilment of some rules for the operation of crypto service providers in their regions. These include registration and other license approval from the country watchdogs. Coinmetro, a crypto exchange, expressed its plans for a global expansion in a new development. This plan propelled the firm…

A Good Week for Exchange Tokens, Except FTT; Solana Continues Falling

Bitcoin and ether, the two largest cryptos in market value, had a quieter day, falling about 2% and 1.3%, respectively, over the past 24 hours. BTC remained comfortably over its most recent $20,000 support level after jumping over $21,000 late last week as investors’ looked with hope at signs the U.S. Federal Reserve would scale back from its current diet of hefty, 75 basis point interest rate hikes. ETH continued to hover well above the $1,500 threshold it retook about two weeks ago. Source

Binance Liquidates Its FTT as CEO Changpeng Zhao Says FTX Lobbying Against Rival Exchange

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Binance has announced it’s selling off all its FTX Token (FTT), as CEO Changpeng Zhao says FTX has been engaging in political efforts against Binance. In a Twitter thread, Zhao says that last year, Binance decided to sell its equity in FTX, receiving billions in stablecoins and the exchange’s native token FTT. Now, Zhao, who heads the largest crypto exchange in the world by volume, says Binance is getting rid of the assets received in the exit with “revelations” coming to light. “As part of Binance’s exit from FTX equity…

Users Flee FTX? Exchange Sees 47% Drop In On-Chain Balance

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The crypto industry is witnessing a new war between exchange giants FTX, led by Sam Bankman-Fried, and Binance-led Changpeng “CZ” Zhao. Over the past week, rumors emerged about the former exchange becoming insolvent and holding an illiquid balance sheet.  The Binance CEO seems to be fulling speculations. During the weekend, CZ expressed concerns about “recent revelations” around FTX. In 2021, Binance invested FTX and received around $2 billion in BUSD, and the Bankman-Fried supported token FTT.  Now, Binance will sell its FTT tokens and liquidate any participation and equity in…

Crypto Exchange Binance Dumping All FTX Tokens on Its Books — CEO Cites ‘Recent Revelations’ – Altcoins Bitcoin News

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Binance is dumping all of its FTX token (FTT) holdings “Due to recent revelations that have come to light,” CEO Changpeng Zhao has confirmed. “Regarding any speculation as to whether this is a move against a competitor, it is not,” he added. “Our industry is in its nascency and every time a project publicly fails it hurts every user and every platform.” Binance Liquidating All FTX Tokens on Its Books The CEO of global cryptocurrency exchange Binance, Changpeng Zhao (CZ), announced via Twitter Sunday that his exchange is liquidating all…

Billionaire Sam Bankman-Fried Explains Why Crypto Exchange FTX Passed on Funding Twitter Acquisition

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The chief executive of FTX is revealing why the crypto exchange passed on funding Elon Musk’s acquisition of social media giant Twitter. FTX CEO Sam Bankman-Fried tells his 793,500 Twitter followers that FTX stayed on the sidelines because it wasn’t clear how the social media platform would incorporate crypto technology into its business model with Musk at its helm. “We passed on Twitter because it didn’t seem like our strengths were what was needed for Elon’s vision for Twitter (e.g. if he wanted to do blockchain-based social media, or blockchain…

Crypto Exchange Bybit Does Not Plan to Sanction Russian Users Despite MAS Call, Report – Exchanges Bitcoin News

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Cryptocurrency exchange Bybit has no intention to introduce restrictions for Russian traders, despite a recent reminder by the Monetary Authority of Singapore (MAS) about the obligations of crypto providers in that respect. According to a crypto media report, the platform shared its position in correspondence with partners. Bybit Reportedly Vows to ‘Not Discriminate Against Crypto Users Based on Location and Passport’ Singapore-based crypto exchange Bybit will not restrict users from the Russian Federation, despite the city-state’s central bank reiterating this week that licensed coin trading platforms must comply with sanctions…

Crypto Exchange Coinbase Draws Mixed Reaction on Wall Street After Weak Q3

“We believe the visibility of COIN generating positive adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in 2023 has increased, and its ability to diversify and generate non-trading revenue is still underappreciated,” Lau wrote in a research note to clients. Lau continued with an outperform rating on Coinbase’s shares and a $107 price target, or nearly double the current price of $57. Source CoinbaseCryptoDrawsExchangemixedreactionStreetWallWeak CryptoX Portal