Tag: Exchange

Korean financial watchdog to block tens of unregistered exchange websites

Unregistered cryptocurrency exchanges operating in South Korea could see their services grind to a halt as the Korea Financial Intelligence Unit (FIU) takes action against 16 foreign-based firms. The FIU has notified its investigative authority that 16 virtual asset service providers have been carrying out business without the necessary registrations. Major exchanges, including the likes of KuCoin, Poloniex and Phemex, were listed alongside 13 other exchanges that are set to be hamstrung by the FIU. All 16 exchanges have purportedly engaged in business activities targeting domestic consumers by offering Korean-language…

Crypto Exchange Gemini Introduces Staking Support for US Investors

“It’s now more clear than ever that people are interested in staking, especially now that we’re on the cusp of the Ethereum Merge,” Amjadi told CoinDesk. “With Ethereum being a staking option for them on Gemini soon and after the Merge, and with there being more liquidity and higher yields, staking is becoming more and more appealing for people.” Source

Coinbase Executive Explains Why the US-Based Crypto Exchange Will Beat Out Competition Like Binance, FTX

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Coinbase chief product officer Surojit Chatterjee says he’s confident his exchange can beat out its top competitors. In a new interview on the Unchained Podcast, Chatterjee says competition is good for the crypto space and spurs innovation. “In terms of why we think we are in a good place, I think, first, our focus on trust. That we want to be the most trusted option for customers, period. And that comes from our investment in security, preventing hacks, compliance, and this is a lot of investment for many years. You…

Nasdaq-Listed Eqonex Closing Crypto Exchange Due to High Competition, Fallen Volumes – Exchanges Bitcoin News

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The Nasdaq-listed firm Eqonex is closing its cryptocurrency exchange business. The company cited high competition among crypto trading platforms and fallen volumes as key reasons for shutting down its exchange. Eqonex Closing Crypto Exchange Eqonex Ltd. (Nasdaq: EQOS), a digital asset financial services company, announced the closing of its spot and derivatives cryptocurrency exchange Monday. The announcement states: The company will proactively exit the crowded crypto exchange space by closing the exchange. The Eqonex exchange will close for trading on Aug. 22 at 8 a.m. (UCT) and for withdrawals on…

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Australian Securities Exchange takes step towards tokenized asset trading

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Companies on the Australian Securities Exchange (ASX) could be able to trade tokenized bonds, equities, funds, or carbon credits after a successful proof-of-concept trial led by the digital asset investment platform Zerocap. On Monday, Melbourne-based digital asset investment platform Zerocap told Cointelegraph it had successfully used Synfini to bridge over its custody infrastructure onto the platform as part of a trial program, allowing for the trading and clearing of Ethereum-based tokenized assets. The trial is part of ASX’s distributed ledger technology (DLT)-based settlement project Synfini which was launched in November.…

S&P Global Knocks Down Coinbase Credit Rating After Exchange Posts $1.1 Billion Net Loss in Q2: Report

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Ratings agency S&P Global has reportedly knocked down the credit rating of Coinbase (COIN) after the crypto exchange revealed its financials for the second quarter of this year. According to Seeking Alpha, the S&P downgraded Coinbase’s credit rating largely due to its weak performance from April to June 2022. In a letter to shareholders last week, Coinbase revealed that it suffered a net loss of $1.1 billion during the period, which includes non-cash impairment charges that the company suffered when the value of its crypto and venture investments dropped. As…

Exit stage left — Eqonex to close crypto exchange after two years

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Nasdaq-listed digital asset investment firm Eqonex has announced it will be exiting the “crowded crypto exchange space” by shuttering part of its operations. In a Monday announcement, Eqonex said it will close trading on its crypto exchange on Aug. 22 while users will be allowed to withdraw funds until Sept. 14. The firm said the closure was part of an effort to streamline operations that focused on offering “the most potential for revenue growth and long-term financial sustainability,” which included its asset management and custody services at Digivault. “Closing the…