Tag: Exchange

Crypto Exchange FTX Witnessed Massive 1,000% Surge in Revenue Last Year, According to Leaked Documents: Report

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Crypto exchange FTX reportedly saw massive growth during the crypto bull run of 2021 when markets hit all-time highs. Citing information from leaked financial documents, CNBC reports that the firm generated $1.02 billion in 2021, a more than 1,000% increase from its revenue of $89 million in 2020. Operating income increased from $14 million to $272 million during the same timeframe. Net income also rose from $17 million to $388 million. The exchange held $2.5 billion in cash at the end of 2021 and profit margins for the year were…

Binance CEO Changpeng Zhao Reveals Bad Trading Behavior Plaguing One Crypto Exchange

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Changpeng Zhao (CZ), CEO of Binance, says that there is a crypto exchange that may be employing poor standards in its trading platform. CZ tells his 6.8 million Twitter followers that he recently learned the term “jitters,” which refers to a lag on trading platforms between when an order is placed and when it is executed. Sometimes, while an order is delayed, other orders are able to jump the queue and front-run them, though it’s not clear whether this is intentional or not. “Just learned a new word, jitters. On…

Hackers Used Deepfake of Binance CCO to Perform Exchange Listing Scams – Exchanges Bitcoin News

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A set of hackers managed to impersonate Binance chief communications officer (CCO) Patrick Hillmann in a series of video calls with several representatives of cryptocurrency projects. The attackers used what Hillman described as an AI Hologram, a deepfake of his image for this objective, and managed to fool some representatives of these projects, making them think Hillmann was helping them get listed on the exchange. Binance CCO Patrick Hillmann Impersonated by Third Parties Hackers and scammers are refining their methods by including more technological tools in their schemes.…

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Moscow Exchange Prepares to List Digital Financial Assets by Year End – Exchanges Bitcoin News

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Russia’s largest market for equities, bonds, and derivatives, the Moscow Exchange, intends to launch a product based on digital financial assets by the end of the year, an executive has revealed. The trading platform is already working with a partner to organize the placement of digital tokens. Russia’s Top Exchange to Facilitate Trading of Financial Instruments Based on Digital Assets Releasing a product based on digital financial assets (DFAs) is in the plans for 2022, a high-ranking representative of the Moscow Exchange (MOEX) has indicated in a recent interview. The…

FDIC Issues Crypto-Related Cease and Desist Orders to 5 Companies Including FTX US Exchange – Regulation Bitcoin News

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The Federal Deposit Insurance Corporation (FDIC) has sent a cease and desist letter to five companies, including crypto exchange FTX US. CEO Sam Bankman-Fried explained that FTX does not have FDIC insurance, stating: “We never meant otherwise, and apologize if anyone misinterpreted it … to be clear FTX US isn’t FDIC insured.” FDIC Orders 5 Firms to Cease and Desist The Federal Deposit Insurance Corporation (FDIC) issued crypto-related cease and desist orders to five companies Friday. The agency regulates and insures the deposits of FDIC-insured community banks and other financial…

Financial Regulator Slaps Crypto Exchange FTX US With Cease-and-Desist Letter Over ‘False’ Statements

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The Federal Deposit Insurance Corporation (FDIC) is hitting crypto exchange giant FTX.US with a cease-and-desist order over allegedly making false statements. According to a new press release issued by the financial regulator, FTX.US has supposedly made statements that make it appear as if the products they offer are FDIC-insured. The FDIC says that FTX.US president Brett Harrison made the misleading statements in July over his Twitter account when he said that “direct deposits from employers to FTX.US are stored in individual FDIC-insured bank accounts in the users’ names” and “stocks…

CZ calls out ‘bad players’ for crypto exchange jitters

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The CEO of crypto exchange Binance, Changpeng ‘CZ’ Zhao, raised concern for traders after learning about the infamous phenomenon of trade jitters on other crypto exchanges.  Jitters in crypto trading relate to a trade event wherein an investor’s buy or sell order gets stuck and moves down in the list, allowing newer trade orders to go through. Just learned a new word, jitters. On 1 particular exchange, sometimes your orders will be stuck for a bit, and a few other orders will get in front of you. Apparently, this happens…

Two Under-the-Radar Altcoins Kick Off Trading on Digital Assets Exchange Crypto.com

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Singapore-based digital assets exchange Crypto.com is continuing its listing spree and adding support for two more low-cap altcoins. Earlier this week, the exchange listed HIGH, the native asset of open-world metaverse game Highstreet. The game offers virtual real estate and an online shop, and can be played via virtual reality on standard computers as well as on smartphones. HIGH is trading for $1.82 at time of writing and is down nearly 2% in the past day and nearly 9% in the past week, according to CoinGecko. The crypto asset is…