Tag: Exchange

US Treasury Charges Bittrex With Sanctions Violations, Crypto Exchange Agrees to Settle With Regulator – Regulation Bitcoin News

boss

On October 11, the U.S. Treasury department’s Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) announced that it has settled charges with the cryptocurrency exchange Bittrex. The crypto exchange was accused of sanctions violations and failure to “implement effective sanctions compliance controls” between March 2014 and December 2017. Crypto Exchange Bittrex Charged With US Sanctions Violations, Washington State Trading Platform Agrees to Settle The Washington State-based crypto asset exchange Bittrex has been charged by FinCEN and OFAC over “116,421 apparent violations of multiple sanctions programs.”…

$47,000,000,000 Asset Manager Could Spark Turnaround of Decentralized Exchange Protocol: Analyst

boss

A widely followed crypto analyst says the entry of a $47 billion asset manager could provide a much-needed shot in the arm for decentralized exchange (DEX) protocol SushiSwap (SUSHI). Will Clemente tells his 660,800 Twitter followers that one of the consistent use cases of crypto is enabling market participants to trade highly illiquid altcoins on decentralized exchanges. Says Clemente, “In fact, the ratio of DEX volume to centralized exchange spot volume is higher than it was this time last year mid bull run. There is clearly a consistent underlying demand…

U.S. Treasury and FinCEN Hit Crypto Exchange Bittrex With $53,000,000 in Fines for Two Offences

boss

Crypto exchange Bittrex is settling with the U.S. Treasury and the Financial Crimes Enforcement Network (FinCEN) to the tune of $53 million. According to a press release, the Treasury’s Office of Foreign Assets Control (OFAC) and FinCEN have charged Bittrex with violating sanctions and anti-money laundering (AML) obligations. Bittrex faces fines of $24 million from OFAC, and $29 million from FinCEN, in what is the first joint enforcement action between the two regulatory agencies. Investigations into Bittrex found violations of multiple sanctions programs, and “willful” violations of the Bank Secrecy…

FTX Founder Sam Bankman-Fried Lays Out Upcoming Upgrades for the Crypto Exchange

boss

FTX founder Sam Bankman-Fried says the crypto exchange is rolling out new features and improvements to its platform over the next month. In a series of tweets, Bankman-Fried lays out a series of changes that its users will see as FTX updates its matching engine. Matching engines are what trading platforms use to match buy orders and sell orders to complete transactions. “We’ll be rolling out a whole new order matcher, lower latency API pathways, and a whole slew of other features. These have been in the works for most…

Why blockchain is more efficient than a traditional database

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Daniela Barbosa, executive director of the Hyperledger Foundation, explains how enterprise-grade blockchain can be more efficient than a regular database and why central bank digital currencies should be built on open code. 0:00 Intro 0:15 What is the Hyperledger team focusing on at the moment? 1:12 How has the WEF’s attitude toward crypto changed over the last few years? 2:16 How did you get to know Bitcoin? 3:21 What is your view on CBDCs? 5:45 Why do enterprises need blockchain? 8:30 What…

Founder of Crypto Exchange Giant Huobi Sells His Shares to Hong Kong-Based Asset Manager

boss

Huobi founder Leon Li is selling his shares in the crypto exchange to Hong Kong-based asset manager About Capital Management. Li was a controlling shareholder in the company and sold 100% of his holdings, according to a press release from Huobi. After purchasing a majority stake in the exchange, About Capital Management formed a new advisory board for Huobi, which includes About Capital CEO Ted Cheng and Tron (TRX) founder Justin Sun. I am very honored to be appointed as a member of the Global Advisory Board of @HuobiGlobal and…

Crypto Exchange Bittrex to Pay $30M to Settle OFAC Charges It Allowed Sanctioned Jurisdictions to Trade

boss

Between 2014 and late 2017, Bittrex allowed around 1,800 people in sanctioned jurisdictions – including Iran, Cuba, Sudan, Syria and Crimea – to conduct more than 116,000 transactions worth roughly $260 million through its platform, according to the settlement. The Seattle, Washington-based exchange has since taken action to better comply with sanctions blacklists. Source

Customer support staff swamped during market swings — exchange execs

boss

Binance Australia’s CEO says it is imperative that customer support is ready for a large influx of customer inquiries at any moment. Crypto market turbulence can be an immensely stressful time for customer support staff at crypto exchanges, with companies vastly bolstering headcounts just to meet demand during surges.  Speaking to Cointelegraph, Alex Harper, co-founder and CEO of Australian crypto exchange SwyftX said that “no matter what your role title is […] no one was above customer support at Swyft.” He said that he, along with staff members from human…

Crypto Strategist Sets Big Price Targets for Ethereum-Based Decentralized Exchange Protocol

boss

Closely followed crypto analyst Michaël van de Poppe is eyeing one Ethereum-based decentralized exchange (DEX) protocol and setting upward price targets. In a new blog post for Eight Global, Van de Poppe says that Injective Protocol (INJ) has tested its main resistance point multiple times, making the said supply area weaker and more prone to breakouts. “The chart itself is self-explanatory, as it shows the resistance zone Injective Protocol has to break through. In that way, the area around $2 is a vital one to crack and if it cracks,…

Hong Kong-Based Asset Management Firm Acquires Controlling Stake in Asian Crypto Exchange Huobi – Bitcoin News

boss

Li Lin’s controlling stake in Huobi, one of Asia’s largest cryptocurrency exchanges, was recently acquired by About Capital Management for an undisclosed sum. Huobi’s acquisition by the Hong Kong-based asset management firm came shortly after the crypto exchange had exited the Chinese market. Lin’s Arrest in 2020 a Key Event for the Huobi Founder The Hong Kong-based asset management company, About Capital Management, recently became the biggest shareholder in the crypto exchange Huobi after it acquired founder Li Lin’s stake in the firm. The Asian crypto exchange’s acquisition by the…