Tag: Exchange

Ex-FTX execs team up to build new crypto exchange 12 months after FTX collapse: Report

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Several former FTX executives have teamed up to help build a new cryptocurrency exchange in Dubai with a specific focus on what FTX failed to do — secure customer funds. Ex-FTX lawyer Can Sun is leading the way with Trek Labs, a Dubai-based startup that received a license to offer cryptocurrency services in the region in late October. Backpack Exchange is the name under which Trek Labs will offer those services. Sun will receive support from ex-FTX employee, Armani Ferrante, who serves as CEO of Trek’s holding company in the British…

Nearly 50 Jurisdictions Partner To Enable Automatic Info Exchange Between Crypto Trading Firms and Tax Agencies

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Nearly 50 nations including the US are collaborating to enable automatic information exchange between crypto trading firms and tax agencies. In a new press release, the government of the United Kingdom (UK) says that the coalition of jurisdictions is partnering up to create the Crypto-Asset Reporting Framework (CARF) as a means of ensuring tax compliance and combating tax evasion. “To keep pace with the rapid development and growth of the crypto-asset market and to ensure that recent gains in global tax transparency will not be gradually eroded, we welcome the…

Tron Founder Justin Sun Offers 5% Cut to Hacker After Poloniex Crypto Exchange Loses $125,000,000 in Cyber Heist

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Tron (TRX) founder Justin Sun is offering a 5% white hat bounty to the hacker who exploited the exchange Poloniex for $125 million in crypto. Sun, who acquired Poloniex in 2019, says that the hacker has a week to accept the offer and return the assets to the wallets he took them from, otherwise, law enforcement will have to get involved. “We are offering a 5% white hat bounty to the Poloniex hacker. Please return the funds to the following ETH/TRX/BTC wallets. We will give you seven days to consider…

Poloniex exchange suffers $100M exploit, offers 5% bounty

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A crypto wallet belonging to the digital asset exchange Poloniex has experienced suspicious outflows, as seen on blockchain explorer Etherscan. Blockchain security firms believe that the company was breached, leading to as much as $100 million in crypto being drained by the attackers. On Nov. 10, millions of crypto assets were transferred from an account labeled Poloniex 4 on Etherscan. Initial estimates of the losses were around $60 million. However, it was later determined that over $100 million was taken by the attackers. According to blockchain security firm CertiK, the…

CME overtakes Binance as leading Bitcoin futures exchange

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The regulated derivatives marketplace Chicago Mercantile Exchange has surpassed Binance to become the leading Bitcoin (BTC) futures exchange. The shift marks the first time in two years that CME has claimed the top spot, indicating a surge in demand from institutional traders. CME currently holds the top position among futures and perpetual futures exchanges, per CoinGlass data, with an open interest (OI) of around $3.99 billion and a notable 24.32% of the market share. Meanwhile, Binance’s OI has decreased to $3.77 billion, down by 13% over the same timeframe. Notional…

Is it Time for a Blockchain-Based Stock Exchange?

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In recent news, South Korea has implemented a complete ban on short selling, a move that has sparked debates about its implications and motivations. The head of the Financial Supervisory Service (FSS), Lee Bok-hyun, defends the decision, citing rampant illegal short selling in the stock market. While the ban is portrayed as a necessary step to combat financial misconduct, it raises questions about its impact and whether other countries should follow suit. Dedicated Forex cloud solutions with stable and fast cross-border connections capable of high-demand scenarios. Alibaba Cloud helps Forex…

Frankfurt Stock Exchange includes crypto trading facility in strategy-2026

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Deutsche Börse AG, the German stock exchange headquartered in Frankfurt, has included crypto in its strategic priorities for the next few years.  According to the strategic report “Horizont 2026”, published on Nov. 7, Deutsche Börse seeks “an expansion of the leading position in the area of ​​digital platforms for existing and new asset classes.” The company believes that, in the long run, there is “further growth potential from new technologies through the digitalization of existing or new asset classes.” Hence, it intends to accelerate the development of its blockchain-backed D7…

Bitget integrates DeFi aggregator into crypto exchange app

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Crypto exchange Bitget has integrated a decentralized finance (DeFi) aggregator into its crypto exchange application, allowing users to swap their tokens and access DeFi services through its Web3 Wallet. According to Bitget, the effort aims to provide users with options for trading their crypto assets on the exchange. The app will also gradually include other services, including a noncustodial wallet, a nonfungible token marketplace and a decentralized application, according to Gracy Chen, managing director of Bitget. In addition, Chen also told Cointelegraph that most currencies listed on the exchange will…

FTX Exchange Restructuring Plan Narrows Down to Three Investors Led by Former NYSE President Tom Farley

After FTX scrutinized 75 bidders that were interested in restarting the distressed cryptocurrency exchange, only three firms, including Bullish, Figure Technologies, and Proof Group, have been chosen. The future of the bankrupt cryptocurrency exchange FTX Trading Ltd, popularly known as FTX, is expected to be decided before the end of this year according to the latest report. With the former FTX boss Sam Bankman-Fried (SBF) having been found guilty of all seven charges by a court jury, the FTX estate is more than ready to begin a new era. Moreover,…