Tag: Exchange

JPEX crypto exchange launches asset-lock-up plan, as some users cry foul

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Embattled crypto exchange JPEX has pushed ahead with a plan that will purportedly transition the platform into a decentralized autonomous organization (DAO) and convert user assets to dividend shares with an incentive to lock them up for two years. An Oct. 4 announcement from JPEX said voting for its “DAO Shareholder Dividend Scheme” was completed on Sept. 28, claiming that 68% of users voted in favor for the scheme. The scheme involves letting users convert their currently frozen assets to DAO Stakeholder dividends at a 1:1 ratio, with JPEX offering…

Hong Kong Stock Exchange launches settlement platform powered by smart contracts

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Hong Kong Exchanges and Clearing Limited (HKEX), the operator of The Stock Exchange of Hong Kong, Hong Kong Futures Exchange, and London Metal Exchange, is launching a novel equities settlement acceleration platform. Dubbed “Synapse,” the platform will utilize smart contracts in the DAML programming language to streamline post-trade flows and enhance operational efficiencies, according to the October 4 announcement.  Synapse will be deployed on Stock Connect, an HKEX channel that enables international investors to access more than 1,000 Mainland Chinese stocks through routing in Hong Kong. “Average daily turnover of…

New book reveals Binance CEO CZ rejected SBF’s $40M request for futures exchange

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Binance CEO Changpeng “CZ” Zhao reportedly declined to pay $40 million to former FTX CEO Sam Bankman-Fried (SBF) for a futures crypto exchange in March 2019, according to an excerpt from Michael Lewis’ book Going Infinite: The Rise and Fall of a New Tycoon. According to the book, SBF proposed a futures exchange with “zero risk” in case of bad trades with high leverage. Traditionally, a futures exchange allows traders to leverage funds against a small collateral, and the exchange often asks traders to increase collateral if the trade starts…

Canadian-based Montréal Exchange (MX) Set to Launch Bitcoin Price Index Futures

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The new product is set to give investors exposure to the Bitcoin value movements on the underlying CoinDesk Bitcoin Price Index (XBX) and will only be settled in the United States dollar. A leading exchange in Canada, TMX Group, has announced plans to launch cash-settled Bitcoin futures on the Montréal Exchange (MX) soon. According to the announcement, the cash-settled Bitcoin futures will track the decade-old CoinDesk Bitcoin Price Index (XBX). Notably, the MX Bitcoin futures contract will settle in the United States dollars and will be cleared at the Canadian…

BTC optimism sparks as exchange supply hits 6-year low

Bitcoin breeds a wave of cautious optimism among traders following the breach above $28,000, as supply on exchanges hit a six-year low amid high whale activity. Santiment highlighted this trend in its latest monthly report, pointing out several metrics compounding the renewed optimism. The report confirmed that as Bitcoin (BTC) surged past $28,000, traders held their breath, waiting to see if the momentum would persist.  📊 October started with a bang, and then calmed down in a hurry. But there is reason to be optimistic with whale accumulation and the…

Coinbase crypto exchange obtains payment license in Singapore

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The United States-based cryptocurrency exchange Coinbase is expanding operations in Singapore by securing major regulatory approval from the country’s central bank. Coinbase has obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, the firm announced on Oct. 1. The new license, coming one year after Coinbase’s initial in-principle approval in Singapore, enables the company to expand its digital payment token services to individuals and institutions in the country. According to MAS, MPI-licensed firms are authorized to conduct payment services without being subjected to transaction limits of…

Shark Tank’s Kevin O’Leary Says New Regulatory-Compliant Crypto Exchange Set To Replace Binance and FTX

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Venture capitalist Kevin O’Leary says that a major crypto exchange is being set up to launch in the Middle East. In a new Fox Business interview, O’Leary says that the hostile regulatory climate in the United States is letting innovative crypto firms slip away from the country. The Shark Tank star says that instead of burgeoning in the US, major players are looking to build in other countries that have a friendlier stance on the nascent industry. “This hasn’t been announced yet but in Abu Dhabi, they are planning to…

US-Based Crypto Exchange Gemini To Halt Trading Services in European Country of 17,000,000

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US-based crypto exchange Gemini is shutting down its trading operations in the Netherlands, which boasts the sixth-largest economy in the European Union (EU). In a new announcement, the company says that it will stop offering crypto services to the Dutch market on November 17th, due to requirements imposed by the De Nederlandsche Bank (DNB), the Netherlands’ central bank. Gemini says its customers need to withdraw their crypto and fiat balances by that date. “If you fail to withdraw your funds as outlined above, we are permitted to sell any remaining…