Tag: Exchange

Bitcoin Bullish Signal: Exchange Netflow Remains Negative

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On-chain data shows the Bitcoin exchange netflow has remained at negative values recently, which could play in the favor of the asset. Exchanges Have Been Seeing Net Bitcoin Outflows Recently An analyst in a CryptoQuant Quicktake post explained that investors have been withdrawing their coins from exchanges recently. The relevant indicator here is the “exchange netflow,” which measures the net amount of Bitcoin currently moving into or out of the wallets of all centralized exchanges. The metric’s value is calculated as the outflows subtracted from the inflows. When this indicator’s…

Indian Crypto Exchange CoinSwitch Lays Off 44 Employees from Customer Support Team

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Indian cryptocurrency exchange CoinSwitch laid off 44 employees, about 7% of its total headcount, from its customer support team. The team still has about 82 members. The layoff took place about three weeks ago but came to light only recently, media reports said. Since April, CoinSwtich recruited about 60 people, mostly in product tech and compliance. Before the layoff, the crypto trading platform had 640 employees. A news report in Money Control quoted CoinSwtich’s spokesman saying customer queries have reduced significantly with plunging trading volumes, creating redundancy in the customer…

HashKey officially launches as Hong Kong’s first retail crypto exchange

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied HashKey Exchange has officially opened its doors, marking its entry as the first licensed retail virtual asset exchange in Hong Kong. HashKey Exchange, Hong Kong’s first licensed retail virtual asset exchange, has officially commenced operations. The launch event was a collaborative effort among representatives from the Hong Kong Special Administrative Region (HKSAR) government, major banking institutions, insurance companies, and Big 4 auditing firms. 🌐 It’s a momentous day! HashKey Exchange Grand Launch is TODAY, and we’re…

Top US Crypto Exchange Coinbase Adds PayPal’s Dollar-Backed Stablecoin PYUSD to Listing Roadmap

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Coinbase has placed PayPal’s new stablecoin on its listing roadmap, meaning the exchange’s users could soon trade the digital asset. The stablecoin, called PayPal USD (PYUSD), aims to maintain a 1:1 peg with the US dollar and is built on Ethereum (ETH). PayPal unveiled the asset earlier this month and said it is “backed by secure and highly liquid assets.” The payment giant’s customers can buy and sell PYUSD through the PayPal app and website and convert it to other crypto assets like Bitcoin (BTC). The blockchain-focused firm Paxos Trust…

Top US Crypto Exchange Coinbase Says It Will Axe Trading Support for Multichain (MULTI) and Five Other Altcoins

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Leading US-based cryptocurrency exchange Coinbase will suspend trading for the crypto asset of the bridging platform Multichain (MULTI) effective September 6th. The decision comes after Multichain advised its users to stop using its services. Earlier this year, the protocol announced that its team members couldn’t find the project’s CEO, Zhao Jun, amid technical issues. “The team has done everything possible to maintain the protocol running, but we are currently unable to contact CEO Zhaojun and obtain the necessary server access for maintenance.” Cybersecurity firm PeckShield also revealed last month that…

PayPal partners with Australian crypto exchange amid banking restrictions

Australian crypto exchange Independent Reserve forms a strategic alliance with PayPal, offering users enhanced funding options amidst increasing local bank restrictions. The Australian cryptocurrency exchange Independent Reserve has closed a partnership with PayPal. The partnership will allow crypto exchange customers to fund their wallets using PayPal. It will also support users looking to buy cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).  PayPal will bring two new solutions for the cryptocurrency exchange, such as a fiat on-ramp and withdrawal option support. Peter Cowan, managing director of PayPal Australia, stated…

FTX crypto exchange reports data breach involving claims agent Kroll

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Defunct crypto exchange FTX has announced a cybersecurity breach involving its bankruptcy case claims agent, Kroll, in which limited, non-sensitive customer data of specific claimants was exposed. FTX said it is actively overseeing the situation, assuring that account passwords, systems and funds remain unaffected. The struggling crypto exchange utilized the X platform on Aug. 25 to notify its customers, creditors and the public about a cybersecurity breach involving its claims agent Kroll. The breach has resulted in the exposure of non-sensitive customer data from specific claimants linked to the ongoing…

Australian exchange enlists PayPal as banks ‘close ranks’ against crypto

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The CEO of Australian crypto exchange Independent Reserve says it has turned to payments giant PayPal to hedge against increasing bank restrictions against crypto exchange payments. The exchange has partnered with PayPal to enable an on-ramp that will give Independent Reserve’s customers the ability to fund their crypto accounts directly with fiat from their PayPal wallet as well as using PayPal to withdraw funds from the crypto exchange. Speaking to Cointelegraph, Independent Reserve CEO Adrian Przelozny said the new partnership offered Australian crypto investors extra choice, and also mitigates the…