Tag: Exchange

Exchange Giant Coinbase Adds Custody Support for 14 Ethereum (ETH)-Based Altcoins, Spurring Rallies Up to 20%

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Top US-based crypto exchange platform Coinbase is expanding its suite of digital assets by adding custody support for over a dozen of Ethereum (ETH)-based altcoins. Coinbase says it’s adding 14 new cryptocurrencies to the growing roster of virtual currencies in its Coinbase Custody cold storage trust. Coinbase Custody, which launched in July 2018, is a crypto custodial service for wealthy and blue-chip investors located in New York that’s designed to give traders a safe way to store large amounts of digital assets. The announcement had mixed results on the prices…

Crypto Exchange Binance To Launch New Oracle Service on BNB Chain, Citing Huge Opportunity

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Binance, the world’s largest crypto exchange platform by volume, is launching a new oracle service on its BNB blockchain. In a new company blog post, Binance says that it will be launching oracle services in a push to boost the BNB Chain ecosystem and the broader digital asset space. Oracles provide smart contracts with a channel to receive real-time data such as price updates from external sources so they are able to properly execute their function. “An oracle is a bridge between the blockchain and the real world. These services…

Is MATIC price about to double? Polygon’s Reddit hype pushes exchange balance to 9-month lows

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A sharp rebound in the Polygon (MATIC) market in the last four months has increased its price by 200% when measured from its June 2022 bottom of $0.31. And now, the token is showing signs of undergoing another major market rally. MATIC exchange balance hits nine-month low Notably, the MATIC supply held by all crypto exchanges fell to 802.15 million on Oct. 26, its lowest level since January 2022. The plunge came as a part of a broader downtrend that has witnessed over 600 million MATIC leaving exchanges in the…

Foreign Exchange Transactions Take Center Stage in New BIS CBDC Report

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Central banks – based in Hong Kong, China, the United Arab Emirates and Thailand – issued over $12 million on the platform, allowing the commercial banks to conduct payment and foreign exchange payment versus payment transactions (PvP), the report said. The pilot was part of BIS’s ongoing Project mBridge, a collaboration between the international financial institution and the central banks of those four nations that is studying CBDCs and their possible role in cross-border payments and multi-CBDC transactions. Source

Former Head of Crypto Exchange Bithumb Charged With Eight Years in Prison for Alleged $70,000,000 Fraud: Report

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South Korean prosecutors are charging the former head of a major crypto exchange with fraud worth nearly $70 million. According to a report from the South Korean news outlet Yonhap News Agency, state prosecutors have asked for eight years in prison for Lee Jung-hoon, the former head of Bithumb. Says the South Korean prosecutors, “The amount of damage is very large, and the damage is especially great for ordinary coin investors.” Lee is being charged with stealing $70 million from BK Group chairman Kim Byung Gun during negotiations over a deal…