Tag: Exchange

Top US Crypto Exchange Coinbase Officially Rolls Out Trading Support for New PayPal Stablecoin PYUSD

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Coinbase customers can now buy and sell PayPal’s new US dollar-pegged stablecoin on the exchange’s website and mobile apps. The top US crypto exchange officially rolled out trading support on Thursday for PayPal USD (PYUSD), which aims to maintain a 1:1 peg with the US dollar. Coinbase first placed the asset on its listing roadmap last week. PayPal unveiled PYUSD earlier this month and said it is “backed by secure and highly liquid assets.” The payment giant’s customers can buy and sell the stablecoin through the PayPal app and website and…

Hong Kong’s first licensed crypto exchange HashKey launches fund

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied HashKey Capital, the first licensed crypto exchange in Hong Kong, has announced the launch of a new secondary market crypto fund. The fund will use a significant portion of its assets to invest in the cryptocurrency industry, targeting different cryptocurrencies. According to a report, the company has secured many potential high-net-worth Asian individuals and companies. The firm’s portfolio manager, Jupiter Zheng Jialiang, explained that the company will seek to raise $100 million for its fund over…

Crypto Exchange OKX Plans to Expand into India despite Murky Regulatory Environment

The exchange recently partnered with blockchain platform Neo to bring its APAC Hackathon to the southern city of Bengaluru in an effort to understand the local culture and support the Web3 ecosystem.   Global cryptocurrency exchange OKX has announced that it will be expanding to India despite the murky regulatory environment in the country. In an interview with CoinDesk, the platform’s Chief Marketing Officer Haider Rafique revealed that OKX was looking to scale up its wallet services by tapping into the rich local developer community. “We’re going to learn about the…

Crypto Exchange OKX Reveals $10,400,000,000 in Bitcoin (BTC), Ethereum (ETH) and USDT Reserves

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Crypto exchange OKX is revealing a combined $10.4 billion worth of Bitcoin (BTC), Ethereum (ETH) and the stablecoin Tether (USDT) in the platform’s reserves. According to OKX chief marketing officer Haider Rafique, the platform is committed to releasing monthly digital asset proof of reserves audits. He also says customers are able to see at any time audited proof that their crypto assets are 1:1 backed. OKX’s most recent August 25th audit shows the exchange is holding more BTC, ETH and USDT than the platform’s users are holding. According to the…

SEC Files ‘Secret’ Sealed Motion in Court Battle Against Top Crypto Exchange Binance

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The U.S. Securities and Exchange Commission (SEC) is seeking the court’s approval to submit confidential documents related to the regulator’s lawsuit against the crypto exchange Binance. On Monday, the SEC filed a sealed motion for leave to file documents under seal. If granted, the agency will be allowed to file sensitive or confidential information with the court that will be kept off the public record. John Reed Stark, former chief of the SEC’s Office of Internet Enforcement, says filing court documents under seal is a rare move by the SEC…

Analysts Observes Drop in Bitcoin Exchange Outflows Indicate Long-Term Holder Confidence

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Bitcoin held on centralized exchanges declined 4.1% reduction in August, CryptoQuant data revealed. This decline in holdings could signify a growing sense of investor confidence in the digital currency, analysts said. According to CryptoQuant data, centralized cryptocurrency exchanges concluded August with a total of 2,010,346 Bitcoin, representing an 86,305 Bitcoin decrease from the beginning of the month. This marks the lowest recorded reserve level since January 2018. This diminishing supply of Bitcoin stored on exchanges implies a heightened level of investor trust in the long-term potential of Bitcoin. Alternatively, it…

Bitcoin accumulation continues, exchange holdings hit 5-year low

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Long-term Bitcoin (BTC) holders are accumulating more coins, reading from the decreasing balances on top exchanges. On Aug. 31, data from Glassnode, a blockchain analysis firm, reveals that the amount of “HODLed” or lost coins was at a five-year peak at 7.841 million BTC, or $213 billion. The count of HODLed or lost coins involves tracking Bitcoin balances that have remained untouched for an extended period. This calculation involves subtracting the “liveliness” from one and then…

Only Exchange with Monthly PoR Since FTX’s Fall

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After the high-profile collapse of the cryptocurrency exchange FTX in November 2022, the industry began looking for solutions to assure investors that centralized trading platforms are safe. This led to the idea of creating Proof of Reserves (PoR) to show the current state of a given exchange’s capital reserves. OKX has just published its tenth consecutive PoR report, showing $10.4 billion in reserves in Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Discover StealthEX.io – the future of cryptocurrency. Swap instantly across 1000+ coins, no sign-up, secure, and private. Dive into…

Nigeria’s Patricia crypto exchange seeks to explain its token amid confusion

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The announcement of Patricia Token (PTK) by Nigerian crypto exchange Patricia was greeted by users with scepticism and some suspicion, as they took to social media to question the motives behind the move. Now, in a response to that reaction, the crypto exchange company has released a white paper seeking to explain the intended function of the Patricia Token. According to the released white paper, the Patricia token is not a stable coin but a debt token, issued to customers to manage users’ debt. Patricia said that it will operate similarly…

Hong Kong’s first licensed retail crypto exchange HashKey eyes 2024 bull run

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Hong Kong retail cryptocurrency traders now have access to a locally based cryptocurrency exchange, with HashKey Exchange launching retail trading services to users in China’s special administrative region on Aug. 28. The company was previously permitted to serve professional and institutional investors before being granted Type 1 and Type 7 licenses by the Hong Kong Securities and Futures Commission (SFC) on Aug. 3. This paved the way to becoming the first licensed retail exchange in Hong Kong.  Figures from Hong Kong’s treasury, banking, accounting and Web3 ecosystem marked the launch of retail trading…