Cryptocurrency exchange FTX is working on developing and issuing a stablecoin, CEO Sam Bankman-Fried said in an interview with The Big Whale. Source
Crypto Exchange FTX Is Working on Creating a Stablecoin: Report
Tag: Exchange
Crypto Exchange Binance To Launch New Oracle Service on BNB Chain, Citing Huge Opportunity
Binance, the world’s largest crypto exchange platform by volume, is launching a new oracle service on its BNB blockchain. In a new company blog post, Binance says that it will be launching oracle services in a push to boost the BNB Chain ecosystem and the broader digital asset space. Oracles provide smart contracts with a channel to receive real-time data such as price updates from external sources so they are able to properly execute their function. “An oracle is a bridge between the blockchain and the real world. These services…
Crypto Exchange SushiSwap Approves Restructuring, Will Create Three Firms for DAO
The DAO will be divided into three organizations, which would be based in Panama and the Cayman Islands. Source
Crypto Exchange Gate is Latest to Sign MoU with South Korean's Busan
Binance, Huobi and FTX have previously signed a memorandum of understanding with Busan as it looks to developer its nascent crypto market. Source
Is MATIC price about to double? Polygon’s Reddit hype pushes exchange balance to 9-month lows
A sharp rebound in the Polygon (MATIC) market in the last four months has increased its price by 200% when measured from its June 2022 bottom of $0.31. And now, the token is showing signs of undergoing another major market rally. MATIC exchange balance hits nine-month low Notably, the MATIC supply held by all crypto exchanges fell to 802.15 million on Oct. 26, its lowest level since January 2022. The plunge came as a part of a broader downtrend that has witnessed over 600 million MATIC leaving exchanges in the…
Foreign Exchange Transactions Take Center Stage in New BIS CBDC Report
Central banks – based in Hong Kong, China, the United Arab Emirates and Thailand – issued over $12 million on the platform, allowing the commercial banks to conduct payment and foreign exchange payment versus payment transactions (PvP), the report said. The pilot was part of BIS’s ongoing Project mBridge, a collaboration between the international financial institution and the central banks of those four nations that is studying CBDCs and their possible role in cross-border payments and multi-CBDC transactions. Source
Former Head of Crypto Exchange Bithumb Charged With Eight Years in Prison for Alleged $70,000,000 Fraud: Report
South Korean prosecutors are charging the former head of a major crypto exchange with fraud worth nearly $70 million. According to a report from the South Korean news outlet Yonhap News Agency, state prosecutors have asked for eight years in prison for Lee Jung-hoon, the former head of Bithumb. Says the South Korean prosecutors, “The amount of damage is very large, and the damage is especially great for ordinary coin investors.” Lee is being charged with stealing $70 million from BK Group chairman Kim Byung Gun during negotiations over a deal…
Sam Bankman-Fried Says Crypto Exchange FTX Will Dole Out One-Time $6,000,000 Reimbursement to Phishing Victims
Billionaire Sam Bankman-Fried says crypto derivatives exchange FTX will dole out $6 million to reimburse users who were impacted by a phishing scam involving a separate company. Users of 3Commas, a crypto trading platform that offers trading bots and interfaces with major exchanges, were targeted by a phishing attack last week. According to a blog post by 3Commas, the bad actors used fake websites designed to resemble the firm’s authentic platform in an effort to steal the application programming interface (API) keys of a partner exchange. With access to API…
New to Crypto? Make Sure You Use an Exchange with Support and Education
The crypto market is still in its infancy, and many new users are eager to get involved with this exciting new asset class. However, the industry grows and becomes more mainstream. Therefore, there will be an increased need for people with knowledge of how cryptocurrencies work and how they can use them safely. Start at The Beginning Newer customers must understand what they’re getting into before using crypto exchanges. There are many ways to lose money quickly if you don’t know what you’re doing, and a misunderstanding of how cryptocurrencies…
Prosecutors Seek 8-year Jail Term for Owner of Top South Korean Crypto Exchange Bithumb
Crypto exchange FTX is reportedly in talks to buy Bithumb. The legal issues connected to its former chairman will, however, hinder any possible sale. According to reports, Lee Jung-hoon, the de facto owner of the South Korean bitcoin exchange Bithumb, is now facing an 8-year jail sentence. The owner who is also a former chairman of Bithumb Holdings is accused of committing a large-scale fraud worth around 100 billion won ($70 million). Lee was indicted by South Korean prosecutors in July 2021 on charges of fraud under the Act on…