Tag: Exchange

Kazakhstan Shuts Down Crypto Exchange That Transferred $34 Million Through Binance – Exchanges Bitcoin News

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Authorities in Kazakhstan have busted an illegal crypto trading platform, seizing over $350,000. The exchange allegedly processed almost $34 million in transactions through wallets on Binance, two of which have been blocked during the ongoing investigation. Digital Asset Exchange Making Millions in Turnover Closed Down in Kazakhstan A platform illegally trading cryptocurrencies in Kazakhstan, ABS Change, has been identified and shut down, the country’s Financial Monitoring Agency (FMA) announced on Telegram. Three Kazakhstani citizens have been accused of running the exchange which carried out its activities without a license since…

Biden Budget Proposal Targets Crypto Investors Using Like-Kind Exchange Provision; Plan Aims to Tax Crypto Miners 30% – Bitcoin News

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On Thursday, the Biden administration released the U.S. president’s 182-page budget proposal for the fiscal year 2024, which aims to “grow the economy from the bottom up and middle out.” The budget includes an $835 billion increase in military spending, but the administration claims it will reduce the deficit by $3 trillion over the next decade. Additionally, the budget proposes “closing a loophole that benefits wealthy crypto investors” and plans to gradually introduce a 30% tax on the electricity used in cryptocurrency mining. Biden Budget Aims to Reduce Deficit by…

Crypto Exchange Giant Rolls Out Support for Two Under-the-Radar Altcoins

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Digital asset exchange giant Crypto.com is rolling out support for two under-the-radar altcoins as the crypto markets continue to crater in the wake of crypto-friendly bank Silvergate’s announced shutdown. Customers of the Singapore-based exchange can now trade Liquity (LQTY) and Gelato (GEL), according to an announcement from the firm. Liquity is a decentralized Ethereum (ETH)-based lending protocol powered by its stablecoin LUSD. The protocol uses ETH as collateral, and LQTY, its native token, can be used for liquidity mining and staking. LQTY stakers can earn LUSD from fees on loan issuance, and…

Shiba Inu (SHIB) Ecosystem Altcoin Adds New Crypto Exchange, Outperforms Bitcoin and Ethereum

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A key altcoin in the Shiba Inu (SHIB) ecosystem is coming to a crypto exchange backed by Tron (TRX) founder Justin Sun. In a new release, crypto exchange Poloniex says it’s listing Shiba BoneSwap (BONE), the digital asset that will be used to pay for the gas fees of Shibarium, Shiba Inu’s highly anticipated upcoming Ethereum-based (ETH) layer-2 scaling solution. “BONE wallets will open on March 9, 2023 at 10:00 UTC and full trading will be enabled on March 9, 2023 at 11:00 UTC… BONE is a governance token of…

Coinbase and $20,000,000,000 Hedge Fund Backing New Decentralized Crypto Exchange

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Top US-based crypto exchange Coinbase is teaming up with a privacy-focused crypto firm to launch a new decentralized exchange (DEX) platform. In a new press release, decentralized finance (DeFi) firm Violet says it plans to launch Mauve, a DEX built with features of both DeFi and traditional finance (TradFi). The company will be collaborating with several prominent investors, such as Coinbase Ventures, venture capital firm FinTech Collective, and $20 billion hedge fund Brevan Howard. According to Violet co-founder Markus Maier, the creation of Mauve was sparked by last year’s high-profile…

Crypto Markets Explore Alternatives of Silvergate Exchange Network

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Silvergate Bank recently announced the closure of Silvergate Exchange Network (SEN), which facilitated off-blockchain money transfers between major investors and crypto exchanges. The decision was made due to concerns about Silvergate Capital Corp’s ability to continue as a “going concern.” With the discontinuation of SEN, analysts evaluate the network’s true value as a core part of the nascent crypto-markets infrastructure and explore alternative options, such as other blockchain firms or traditional banks, to fill the gap left by SEN. SEN enabled accounts to transfer money  at Silvergate instantly between each…