Former Chairman of Bithumb Holdings was recently acquitted of fraud charges. Source
Crypto Exchange Operator Bithumb Investigated by South Korean Tax Authorities: Report
Tag: Exchange
US Hedge Funds Receive Subpoenas Over Communications With Binance As Investigators Probe Crypto Exchange: Report
Binance, the world’s largest crypto exchange, is reportedly being investigated by federal prosecutors, which has led to multiple American hedge funds being subpoenaed by the Western District of Washington in Seattle. According to a report from the Washington Post, investment firms in the US have been directed by prosecutors to hand over records of their communications with Binance. The Washington Post cites two people who reviewed the subpoenas and spoke on the condition of anonymity. Binance chief strategy officer Patrick Hillmann told Washington Post that the exchange is talking to…
Jefferies Initiates Coverage of Crypto Exchange Coinbase With ‘Hold’ Rating
Coinbase will be “acutely pressured in the near-term” as its retail customer base trades less frequently in the bear market, but the company has staying power due to its healthy balance sheet with over $5 billion in cash, it’s proactive approach to regulatory compliance, prudent risk management and its legitimacy as a publicly listed and audited company, the note said. Source
US Prosecutors Subpoena Hedge Funds Linked to Crypto Exchange Binance
The US attorney’s office for the Western District of Washington in Seattle has subpoenaed a few investment firms asking them to provide records of their communications with Binance over the past few months. As per the latest reports, US prosecutors are now investigating hedge funds having links to Binance as part of the ongoing money-laundering probe of the crypto exchange. Following the collapse of the crypto exchange FTX, Binance has come under the scrutiny of US regulators. US Prosecutors Investigating Binance Some lawmakers were also mulling the possibility of criminal…
Hacker Sent to Prison for Robbing Vietnamese Crypto Exchange – Exchanges Bitcoin News
Authorities in Vietnam have caught and sentenced a hacker who stole money and data from a local cryptocurrency exchange. The man, who was arrested and charged for extorting the trading platform’s owner, has been ordered to return the money he misappropriated. Vietnamese Court Jails Hacker for Attacking Crypto Exchange Website A resident of Ho Chi Minh City in Vietnam has been given 10 years in prison for stealing 300 million Vietnamese dong (close to $13,000) from a crypto entrepreneur whose coin trading site he subjected to cyberattacks. Nham Hoang Khang,…
Pi Network Clarifies Its Tokens Are Not Listed On Any Exchange Yet
Pi Network, which plans to launch smartphone-based mining of Pi coins, has clarified that it has no association with any crypto exchange as of now. Pi tokens listed on any trading platform are fake, it said in a statement. “Pi’s enclosed mainnet design means that $PI listing on any exchange is impossible. The listing violates the network’s policies and is a false native Pi token, representing some form of IOU or other derivatives,” the network added. Pi Network is a cryptocurrency and developer platform that promises to offer the mining of…
Digital Asset Exchange Giant Huobi Plans To Lay Off 20% of Its Staff Amid Ongoing Crypto Winter: Report
The Seychelles-based crypto exchange giant Huobi is reportedly planning to lay off 20% of its staff as the ongoing bear market continues to thrash companies across the industry. Reuters reports that Huobi says “a very lean team will be maintained going forward” amid the crypto winter. Tron (TRX) founder Justin Sun, a member of the Huobi advisory board, tells the outlet that the workforce reduction is expected to be completed by the end of the first quarter of this year. The exchange’s planned layoffs are the latest in a series…
Bitcoin Exchange Deposit Transfers At 4-Year Low, Bottom?
On-chain data shows the Bitcoin exchange depositing transactions are now at a 4-year low, indicating that the bottom may be here. Bitcoin 30-Day MA Exchange Depositing Transactions Have Declined As pointed out by an analyst in a CryptoQuant post, the metric’s current levels are the same as in Q1 2019. The “exchange depositing transactions” is an indicator that measures the total number of Bitcoin transfers that are headed toward centralized exchanges. The difference between this metric and the more popular exchange inflow is that the latter indicator tells us the…
Crypto exchange Huobi to lay off 20% of workforce
The Huobi crypto exchange logo displayed on a smartphone. Nikolas Kokovlis | Nurphoto via Getty Images Digital currency exchange Huobi on Friday reportedly said it plans to reduce its global headcount by about 20%, in the latest round of layoffs to hit the beleaguered cryptocurrency industry. The Seychelles-based company is one of the largest crypto exchanges globally, handling about $370 million of trading volumes on a single day, according to data from CoinGecko. related investing news A company spokesperson told news agency Reuters that Huobi had a “planned layoff ratio”…
Crypto Exchange Huobi Experiences Heavy Token Outflows: Nansen
Its +2% bid depth also remains comparatively narrow, according to CoinGecko data, when compared with other tokens of a similar market cap. In a recent column, Kaiko’s director of research, Clara Medalie, pointed out that the lack of 2% bid depth was a major red flag for FTX’s FTT token. Source