Tag: Exchange

Crypto Exchange Binance.U.S. Cuts Staff After SEC Sui

“As part of this transition, and because of our preparation for a multi-year and very costly litigation process, the Board has asked Management to shrink the size of our teams across the company and reduce our burn rate,” read the documents. “Unlike every other U.S. crypto company, we have been working to avoid this scenario, but circumstances have now shifted. This was a very hard decision – one that we didn’t take lightly. We are sad to see our colleagues depart, but we wish them the best and will do…

New York bans CoinEx exchange, seizes $1.7M in crypto assets

Hong Kong-based crypto exchange CoinEx has been banned from operating in New York by Attorney General Letitia James. According to an announcement on June 15, over $1.7 million worth of the exchange’s funds were seized for allegedly failing to register as a securities and commodities brokerage. The agreement resolves a previous lawsuit against CoinEx from February, when the New York state accused it of falsely representing itself as an exchange and failing to register with local authorities. “As part of today’s consent order, CoinEx is banned from offering, selling, or…

Crypto Exchange Bybit Taps into ChatGPT to Advance Trading Tools

ByBit is not the only crypto trading platform recognizing the potential of AI in delivering enhanced user experiences. Other leading exchanges have also explored the integration of ChatGPT into their platforms.  Leading cryptocurrency exchange Bybit is gearing up to enhance its trading services by incorporating an artificial intelligence (AI) tool into its trading platform to enhance market data analysis. In a Twitter post on June 15, Bybit unveiled the latest addition to its Tools Discovery family, dubbed “ToolsGPT”, leveraging the capabilities of the famous generative AI technology, ChatGPT, developed by…

Cross-Chain Bridge deBridge Rolls Out Exchange That Doesn’t Need Liquidity Pools

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Exchange Floats New Product for Mining BTC

Binance also disclosed that the BTC mining subscription service will only be active for 180 days or thereabout. The weight of regulatory pressure from the US Securities and Exchange Commission (SEC) appears to have little or no effect on the activities of crypto exchange Binance. This follows after the exchange recently announced the Binance cloud mining product and services. According to the announcement, the service goes live on Thursday, June 15th, and access to it will be subscription-based. That is, from Thursday, Binance users who would love to mine Bitcoin…

MetaMask Developer ConsenSys Challenges SEC’s Proposed ‘Exchange’ Definition, Citing Blockchain Misunderstandings

Blockchain tech company ConsenSys, represented by lawyer Bill Hughes, has formally objected to the Securities and Exchange Commission’s (SEC) Notice of Proposed Rulemaking (NPRM) concerning the redefinition of a securities “exchange”. Hughes voiced these objections in a series of tweets today. ConsenSys contends that the amendments proposed by the SEC would be unlawful if finalized in their current form, as they are intended to apply to blockchain protocols. They allege that the reopening release fails to rectify key legal deficiencies in the proposed amendments, misinterprets the term “exchange” as per…

North Korean Hackers Launder Stolen Crypto Funds Through Sanctioned Exchange

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Blockchain security firm Elliptic has revealed that the attackers responsible for the recent $35 million exploit of crypto wallet Atomic Wallet are moving the stolen funds through the Office of Foreign Assets Control (OFAC)-sanctioned exchange Garantex. Elliptic investigators strongly believe that the notorious North Korean hacking group, Lazarus, was behind the hack, as previously reported. Garantex, which was sanctioned by the OFAC last year due to lax anti-money laundering measures and its facilitation of illicit activities, has become the channel for transferring the pilfered funds, according to Elliptic. While several…