Tag: Exchange

Crypto exchange volumes declined to $52b in August 

VanEck’s monthly crypto market recap reveals that trading volumes of centralized exchanges declined to $52.8 billion in August, representing a 15.5% decrease compared to July. Bitcoin (BTC) and Ethereum (ETH) faced a challenging month, recording 9% and 10% losses, respectively. VanEck: Crypto markets hit lows In August, as reported by VanEck, the trading volumes of digital assets hit a two-year low, coinciding with an all-time low in their volatility. According to the analysis, this decline was attributed to waning investor interest. The analysts attributed the declining investor interest to the…

Crypto Exchange Gemini Blasts DCG and Genesis Bankruptcy Plan, Calling It ‘Misleading at Best’

Earlier this week, Genesis and its parent company, Digital Currency Group, said more than 230,000 retail creditors who used Gemini’s Earn program stand to be made “nearly whole” under a proposed remuneration deal to be voted on later this year. Earn was offered to customers of the Gemini crypto exchange, but Genesis supplied the financial infrastructure that ran the program. (Genesis, like CoinDesk, is owned by DCG.) Source

Remitano Exchange Reportedly Targeted in $2.7 Million Security Breach; Tether Freezes $1.4 Million

boss

Crypto exchange Remitano faced a series of substantial and suspicious withdrawals on September 14, prompting some blockchain experts to suspect a possible hack. In total, approximately $2.7 million worth of cryptocurrencies were withdrawn through these dubious transactions, news reports said. Tether took swift action by freezing one of the addresses allegedly used by the attacker, safeguarding potentially $1.4 million worth of customer assets, the coverage added. Around 12:45 pm, an established Remitano hot wallet initiated transfers to an address devoid of any prior transaction history. This unusual activity involved the…

Remitano exchange allegedly hacked for $2.7M; $1.4M frozen by Tether

boss

Crypto exchange Remitano experienced large withdrawals under suspicious circumstances on September 14, with some blockchain analysts concluding that it may have been hacked. A total of $2.7 million worth of crypto has been withdrawn through the suspicious transactions. Tether has frozen one address the attacker allegedly used, potentially saving $1.4 million worth of customers’ crypto. At approximately 12:45 p.m. on September 14, a known Remitano hot wallet began sending funds to an address with no prior history. Approximately $1.4 million worth of Tether (USDT), $208,000 worth of USD Coin (USDC)…

Coinbase CEO Brian Armstrong Says Crypto Exchange Will Now Support Bitcoin Lightning Network

boss

Coinbase CEO Brian Armstrong says the largest US-based crypto exchange is adding support for Lightning Network, a layer-2 scaling solution for Bitcoin (BTC) that aims to address scalability issues. In a statement, Armstrong says Coinbase is working to add Lightning given the significance and importance of Bitcoin in the digital asset space. “We’ve made the decision to integrate Lightning. Bitcoin is the most important asset in crypto and we’re excited to do our part to enable faster/cheaper Bitcoin transactions. Will take some time to integrate so please be patient.” Coinbase…

Crypto Exchange Huobi to Use HTX to Fulfill Its Global Ambitions

Huobi will retain its identity for Chinese-speaking regions, but the exchange will now be recognized as HTX on the global scene. Popular cryptocurrency exchange Huobi celebrated its 10th anniversary on Wednesday by announcing its rebranding to HTX. However, there might be more to the move that controversially appears to echo the bankrupt exchange FTX. According to the September 13 announcement, “H” simply represents the first letter of Huobi, “T” represents Justin Sun’s blockchain project Tron, and “X” represents the exchange. But then, Huobi intends to use its new international brand…

Why This Crypto Exchange Founder Believes Bitcoin Can Still Rise 150% From Here

The price of Bitcoin has fluctuated over the past month, but BitMEX co-founder Arthur Hayes is the latest crypto expert to make a bullish forecast for the asset. According to the former CEO of the cryptocurrency exchange BitMEX, Bitcoin could reach $70,000, and the only reason the asset is not yet at this price is because investors are fixated on the Fed’s nominal rate. Bitcoin Can Still Rise 150% Various predictions have come in regarding Bitcoin, with some being more bullish than others. As for Hayes, he made his case…

Canadian BTC exchange partners with Costa Rica’s largest fiat payment system

boss

A non-custodial Bitcoin-only exchange with a head office in Canada, Bull Bitcoin, has formed a partnership with SINPE Movil, Costa Rica’s principal fiat payments system, and Bitcoin Jungle, a local crypto wallet solution. According to Bull Bitcoin’s press release from Sept 14, both the citizens of Costa Rica and “foreigners” will be able to convert the local currency, Colones, to Bitcoin, and vice versa. Bull Bitcoin will also allow conversion to and from bank accounts (IBAN) both in Colones and USD via regular bank transfers. The exchange will operate through…