According to data from the past 40 days, the San Francisco crypto exchange and custody service Coinbase has experienced withdrawals totaling 12,585 BTC since June 1. Meanwhile, Binance has reported inflows of approximately 30,082 BTC during the same period. Despite these shifts, centralized exchanges have seen 70,966 BTC, valued at $4 billion, withdrawn over the […] Original
The co-founder and former director of peer-to-peer cryptocurrency marketplace Paxful has pleaded guilty to charges related to the platform’s failure to gather sufficient know-your-customer (KYC) information from its users. Paxful is a virtual currency platform and money transmitting business where users traded crypto assets in exchange for other items. In a statement, the U.S. Department of Justice (DOJ) says that from July 2015 to June 2019, Artur Schaback marketed Paxful as a platform that did not require KYC and allowed customers to open accounts and trade on the platform without…
“Today, many people use manual spreadsheets and need to open multiple browser tabs to track their assets holistically,” Coinbase said in a statement. “Many people also manage several crypto wallets, and until now, achieving a comprehensive view of all their assets in one place has been a challenge.” Source
The Business Payments Coalition’s E-remittance Exchange Pilot, running from September 2023 to June 2024, demonstrated that electronic remittance information could be exchanged automatically between businesses. This success was largely due to the development and testing of a new e-remittance data model that standardizes the formatting and exchange of remittance information. By proving the viability of this model, the pilot showed that automation in B2B payments is not only possible but highly beneficial. What Are the Immediate Benefits for Businesses? The immediate benefits for businesses adopting the new e-remittance data model…
“As BitMEX’s founders and long-time employee admitted in federal court in 2022, the company, one of the leading cryptocurrency derivatives platforms in the world from 2015 to 2020, operated in the United States without any meaningful anti-money laundering program, as required by federal law,” said U.S. Attorney Damian Williams in a DOJ press release. “As a result, BitMEX opened itself up as a vehicle for large-scale money laundering and sanctions evasion schemes, posing a serious threat to the integrity of the financial system. Today’s guilty plea indicates again the need…
CoinspeakerLitecoin (LTC) Whales Boost Exchange Inflows amid Price Decline In the past week, there has been a notable increase in the movement of Litecoin (LTC) coins held by large investors to cryptocurrency exchanges. This uptick coincides with LTC’s declining value. The cryptocurrency is currently trading at a 15% loss over the past seven days. Large holders seem to be taking action to mitigate potential further losses amid these market conditions. Rising Selling Pressure from LTC Whales On-chain data indicates a sharp rise of over 464% in large holders’ netflow to…
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The launch of ForecastEx, a prediction exchange specializing in economic and climate events, has been postponed until later in the summer due to administrative issues, according to Steve Sanders, EVP of Marketing and Product Development at Interactive Brokers. ForecastEx Market Designations Approved ForecastEx, a wholly-owned subsidiary of Interactive Brokers Group, has received the required designations from the Commodity Futures Trading Commission (CFTC) to operate as a contract market and derivative clearing organization. The exchange was originally planned to begin operations on Monday, July 8, 2024. Steve Sanders informed Traders Magazine…
Singapore Exchange (SGX) CEO Loh Boon Chye has shared his insights on whether Singapore’s largest stock exchange will offer crypto-based listings. The executive emphasizes the need for a sustainable ecosystem, stating: “That really means demand, that really means governance, that really means structure.” Despite global trends and institutional pressure, Loh asserts that current conditions are […] Source BitcoincryptoexchangeExchanges CryptoX Portal
Global clearing house LCH, which was acquired by the London Stock Exchange Group (LSEG), has named Patrick Strobel its Chief Technology Officer. Strobel, who has been with LSEG as the Head of SwapClear and Regulatory Reporting Technology for more than three years, announced his latest career move today. Experience from Major Brands According to Strobel’s profile, he also held the role of Head of Securities Technology and UnaVista until 2022. The veteran executive has also worked for other major industry brands in the past, including Liquidnet, Deutsche Bank, and JPMorgan.…