Tag: Exchange

Bitfinex Crypto Exchange Announces Listing of Pepe Meme Coin, PEPE Price Up 3.4% Today

Bitfinex joins a dozen of other centralized and decentralized exchanges that have supported Pepe meme coin through listings. Bitfinex, a veteran centralized cryptocurrency exchange established in 2012 with a 24-hour traded volume of about $67,175,170, has announced trading of a popular frog-themed meme coin Pepe (PEPE) will begin on May 24, 2023, at approximately 10 am UTC. The exchange began accepting PEPE deposits on May 22, with trading pairs announced in the United States dollar and Tether stablecoin (USDT). Following the announcement, the ERC-20 token gained as much as 6…

Philippines SEC Says Gemini’s Derivatives Exchange Is ‘Unregistered’

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The Philippines’ Securities and Exchange Commission (SEC) has issued a warning against the crypto derivatives platform launched last month by Winklevoss twins-controlled Gemini Trust. According to the regulatory notice published last week, the newly launched platform markets and offers derivatives products categorized as securities under local laws. Gemini did not seek any registration from the Philippines regulator to launch its platform there. “GEMINI TRUST COMPANY, LLC. is not registered with the Commission and OPERATES WITHOUT THE NECESSARY LICENSE AND/OR authority to solicit, accept or take investments/placements from the public nor…

Exchange Token BGB Has Made 3,000% Since the Launch – New ATHs on the Horizon

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HodlX Guest Post  Submit Your Post   It pays to be early in crypto. But if you can’t be early, you can still make money from being late – provided you’re not the last one in the door. No one wants to exit liquidity for tokens that have pumped massively, making their early adopters wealthy while leaving laggards to fight over single percentage-point gains. Just like exchange tokens such as BNB and KCS, Bitget’s BGB has pulled four-figure profits for those with the luck or wisdom to buy early and ‘hodl’…

It’s Now Too Difficult To Run a Centralized Crypto Exchange, Says Hotbit As It Shuts Down

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Hong Kong-based cryptocurrency trading platform Hotbit announced today that it will stop all operations on May 22, 2023. In a new announcement, Hotbit, which had 5 million users, cites deteriorating operating conditions, crypto industry changes, and risk management concerns as their motives for shutting down. “This decision is based on three reasons: Firstly, the deterioration of the operating conditions. After the Hotbit management team was forced to suspend operations for several weeks due to the investigation in August 2022, the industry has experienced a series of crises, including the collapse of…

Prominent Crypto Exchange Hotbit Suspends Operations Amid Shifting Market Trends

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Hotbit, a prominent centralized cryptocurrency exchange (CEX), has announced that it will be suspending its business operations. The decision revealed on May 22, 2023, comes after five years of service. The crypto exchange cited several factors that led to this decision, including the shifting trends in the crypto market, the detachment of stablecoins from their $1 benchmarks, and the deteriorating operating conditions. Established in 2018, Hotbit swiftly gained popularity and became one of the leading exchanges in the industry. It offered users various options for trading digital assets, including meme…

Crypto Exchange Hotbit Suspends Operations after Five Years of Service

After five years of service, Hotbit joins Paxful and Bit4You to exit the crypto market. Hotbit, a centralized cryptocurrency exchange (CEX), has suspended its business operations. The company announced the decision on May 22, 2023, citing several factors including the change in crypto market trends, the depegging of stablecoins from their $1 benchmarks, and the deterioration of operating conditions. Hotbit was founded in 2018 and quickly became one of the most popular exchanges in the industry. The firm offers users various options to trade digital assets, including meme tokens such…

Crypto Trading Platform Hotbit Terminates Centralized Exchange Operations

The crypto industry will pivot increasingly toward more decentralized business models in response to the sterner regulatory oversight of centralized firms following FTX’s collapse, according to Hotbit. Decentralized businesses should in theory be able to avoid the risk of there being a single point of failure, as occurred with FTX. Source CentralizedCryptoExchangeHotbitOperationsPlatformTerminatesTrading CryptoX Portal

Hotbit exchange halts operations, urges users to withdraw funds

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In an announcement, the exchange said that its operating conditions have deteriorated since a former member of its team was subjected to an investigation back in August 2022. According to the exchange, the probe forced them to stop their business for weeks. In addition, Hotbit also cited various incidents within the crypto space as contributors to its decline. The exchange cited the FTX exchange collapse and the banking crises that caused the USD Coin (USDC) depegging incident as reasons for its deteriorating cash flow. Hotbit said that the incidents resulted…