Tag: Exchange

CME becomes second-largest Bitcoin futures exchange as open interest surges

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The Chicago Mercantile Exchange (CME), a regulated Bitcoin (BTC) Futures exchange, now stands just behind Binance in terms of notional open interest (OI) to rank second in the list of BTC futures exchanges. CME’s OI hit $3.58 billion earlier on Oct. 30, pushing the regulated derivatives exchange platform to jump two positions from the last week. CME overtook Bybit and OKX with $2.6 billion and $1.78 billion in OI, respectively, and is just a few million away from Binance’s OI of $3.9 billion. Bitcoin Futures Exchange rankings by Open Interest.…

Thailand’s Kasikornbank Buys Majority Stake on Satang Crypto Exchange

K-Bank aims to capture 20% of the crypto market in Thailand through the acquisition of Satang Pro. In a bold move signaling growing integration between traditional finance and the burgeoning cryptocurrency industry, Kasikornbank, one of the largest banks in Thailand, has purchased a majority stake in a local digital assets trading platform called Satang Pro. According to a recent filing, the bank, popularly known as K-Bank in the country, acquired 97% of Satang’s parent company shares, amounting to 3.705 billion Thai baht worth around $102.8 million. Satang Pro to Be…

CME becomes second-largest Bitcoin futures exchange, surpassing Binance

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CME’s notional open interest has surged to $3.57 billion, securing its position as the second-largest exchange in the trading of standard Bitcoin and perpetual futures. The Chicago Mercantile Exchange (CME), a regulated entity, is ascending the ranks among the largest exchanges for Bitcoin (BTC) futures and perpetual futures trading by open interest, evoking memories of the initial phases of the 2020-2021 bull market. According to Coinglass, CME has seen its notional open interest (OI) rise to $3.57 billion, elevating it to the second-largest Bitcoin futures exchange from its previous fourth-place…

Thailand’s Bank Acquires Local Crypto Exchange Satang

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Thailand’s Kasikorn Bank (K-Bank) expanded its presence in the digital asset space with its latest acquisition of 97 percent stakes in the parent company of local crypto exchange Satang, Coindesk reported. The deal has been inked at a valuation of 3.705 billion Thai baht ($102.8 million). Satang has been operating as a crypto exchange in the country since 2017 and offers an array of services, including custody, staking, and crypto payments. However, the spot trading volume on the exchange appears to be much less at about $430,000 in the last…

Thailand’s KBank acquires crypto exchange business Satang

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Thailand’s Kasikornbank — one of the largest banks in the country — is moving into the cryptocurrency industry by acquiring a majority stake in the local crypto exchange Satang. Kasikornbank, also known as KBank, acquired 97% of shares in the operator of Thailand’s Satang crypto exchange, according to an announcement published on Oct. 30 on the website of the Stock Exchange of Thailand (SET). According to Kasikornbank, the acquisition is valued at 3.7 billion Thai baht ($103 million). The transaction is being made through KBank’s new subsidiary, Unita Capital, which…

How to safeguard assets if your crypto exchange is in trouble

Discover how to protect your crypto and recognize the early signs of a potential exchange collapse in this essential guide. The downfall in November 2022 of the FTX crypto exchange is a stark reminder of the risks inherent in this high-stakes financial sector.  The rapid fall, sparked by revelations of questionable financial health, left investors scrambling, underscoring the necessity for robust contingency planning.  Understanding the impacts of such a collapse, recognizing the warning signs, and knowing how to prepare can be the difference between safeguarding your assets and financial ruin.…

Bitcoin and Ether record low trading volumes on South Korea’s biggest crypto exchange

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A recent report revealed that altcoin trading in the South Korean cryptocurrency market was high, in contrast to majors like Bitcoin (BTC) and Ether (ETH) where trading activity has declined in comparison.  The number of South Korean investors was estimated to reach about six million in the first six months of 2023, a figure accounting for 10 percent of the South Korean population, according to a survey carried out by the Korea Financial Intelligence Unit, as reported by DeSpread Research. Meanwhile, most of these investors use centralized exchanges (CEXes) for…