Tag: Exchange

Coinbase Exchange Faces SEC Probe Over Crypto Yield, Staking Products

“The Company has received investigative subpoenas and requests from the [U.S. Securities and Exchange Commission] for documents and information about certain customer programs, operations, and existing and intended future products, including the Company’s processes for listing assets, the classification of certain listed assets, its staking programs, and its stablecoin and yield-generating products,” Coinbase said in the 10-Q form. Source CoinbaseCryptoExchangeFacesProbeProductsSECStakingYield CryptoX Portal

Coinsquare chief operating officer shares thoughts on being the first regulated crypto dealer exchange in Canada

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It’s a story that still haunts the early generation of Canadian crypto users to this day. Four years prior, Gerald Cotten, co-founder of Canada’s then-largest cryptocurrency exchange QuadrigaCX, died under mysterious circumstances in India. But, before his passing, Cotten took virtual keys for digital wallets and moved them into cold storage, leading to the permanent loss of $190 million in user funds. The incident triggered a crisis of confidence in the country’s emerging crypto sector and made regulators deeply skeptical of blockchain technology. However, old wounds eventually heal. Fast forward…

Crypto exchange Hotbit says it froze customer funds due to alleged criminal ties of formal employee

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On Thursday, cryptocurrency exchange Hotbit said it “suspended trading, deposit, withdrawal and funding functions,” with no timeframe for resumption. In explaining the decision, Hotbit stated: “A former Hotbit management employee who left in April this year was, unbeknownst to Hotbit, involved in a project in 2021 that law enforcement authorities now think is suspected of violating criminal laws. As a result, a number of Hotbit senior managers have been subpoenaed by law enforcement since the end of July and are assisting in the investigation. Furthermore, law enforcement has frozen some…

Defi Attacker Siphons $570,000 From Curve Finance, Crypto Exchange Fixedfloat Freezes 112 Ethereum – Bitcoin News

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Reports indicate that the decentralized finance (defi) protocol Curve was hacked for $570,000 in ethereum after people noticed that Curve’s front end was exploited. The attackers then tried to launder the funds via the crypto exchange Fixedfloat, and the trading platform’s team managed to freeze $200K worth of the stolen funds. Curve Finance Exploited for $570K — Fixedfloat Exchange Freezes More Than $200K, Domain Service Blamed Another defi hack was discovered on August 9, when the Paradigm researcher Samczsun tweeted that Curve Finance’s frontend was compromised. Curve Finance confirmed the…

Crypto Exchange Coinbase Stock Is Not Out of the Woods as Market Uncertainty Hovers

“Following a severe drop in asset prices, it is not surprising to see a bit of paralysis in customer engagement, particularly in trading as investors assess where we go from here,” JMP’s Devin Ryan told clients in a note. “Pinpointing the moment of inflection is difficult, but we continue to have conviction that Coinbase remains incredibly well positioned to benefit as the pendulum moves back into the middle, which we believe it inevitably will.” Ryan has a market outperform, and lowered JMP’s price target to $195 from $205. Source

LBank Exchange Will List Drive Crypto (DRIVECRYPTO) on August 9, 2022 – Press release Bitcoin News

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press release PRESS RELEASE. INTERNET CITY, DUBAI, Aug. 8, 2022 – LBank Exchange, a global digital asset trading platform, will list Drive Crypto (DRIVECRYPTO) on August 9, 2022. For all users of LBank Exchange, the DRIVECRYPTO/USDT trading pair will be officially available for trading at 23:00 (UTC+8) on August 9, 2022. As the first web3 mobility App developed using the Drive-to-Earn concept with GameFi/SocialFi elements, Drive Crypto (DRIVECRYPTO) enables users to earn cryptocurrencies while driving with unique and rare NFT cars. Its native token DRIVECRYPTO will be listed on LBank…

Tron Founder Justin Sun Says His Crypto Exchange Poloniex Will Support All Future Forked Ethereum Tokens: Report

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The founder and former chief executive of smart contract platform Tron (TRX) is reportedly saying that his crypto exchange will support all future forked Ethereum (ETH) tokens. According to a new report by Bloomberg, Sun says that Poloniex, a crypto exchange he heavily backed in 2019, will list any proof of work versions of Ethereum following The Merge. “Proof-of-work is essential to Ethereum [because it is very reliable]. For [a] proof-of-stake smart platform, we have Tron.” Sun is referring to Ethereum’s upcoming merge to its Beacon Chain and transition to…

Binance Halts Support for Indian Exchange WazirX After Latter’s Regulatory Scrutiny

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Off-chain fund transfers between Binance and Indian cryptocurrency exchange WazirX are expected to be discontinued on August 11. However, users will still be able to deposit and withdraw funds using the standard withdrawal and deposit procedures between the two exchanges. Three days before the news, WazirX’s bank balances totalling $8.1 million connected to the exchange were frozen after The Directorate of Enforcement of India claimed that the exchange “actively assisted around 16 accused fintech companies in laundering the proceeds of crime using the crypto route.” The ownership of the exchange…