Tag: Exchange

Crypto Exchange Txbit Announces Closure Amidst Regulatory Challenges and Market Trends

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Crypto exchange Txbit has said in a statement that it’s going to permanently shut down operations due to uncertain regulatory landscapes and unfavorable market conditions. The exchange cited the escalating costs of compliance and continuous pressure on product margins as key contributors to its inability to sustain profitability, media reports said. “In light of rising compliance expenses and persistent pressure on our product margins, the viability of maintaining our current operations has become unsustainable,” the official announcement stated, reflecting on the evolution of the crypto exchange industry. “While our journey…

US Senator Files Amicus Brief Supporting Coinbase, Says Court Should Dismiss SEC Lawsuit Against Exchange

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A pro-crypto US Senator is filing an amicus brief in favor of Coinbase, saying that the court should discard the U.S. Securities and Exchange’s (SEC) lawsuit against the crypto exchange. In a new court filing, Republican Senator Cynthia Lummis of Wyoming asks the court to toss out the SEC’s lawsuit against Coinbase, which alleges that the top US crypto exchange sold unregistered securities. According to Lummis, the SEC’s enforcement actions are “out of step” with the efforts of lawmakers to create a clear regulatory framework for the crypto industry. “Crypto…

Did XRP Price Really Hit $50 On Gemini Exchange

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On August 10, the price of XRP inexplicably spiked for a brief moment on the Gemini exchange. For a moment, the price of XRP reached an astounding $50 per coin before quickly crashing back down to the same level on spot markets on other exchanges. Brief Price Surge On Gemini According to various posts on social media platform X (formerly known as Twitter), it would seem that Gemini experienced a technical issue that caused the XRP price displayed on their exchange to show an erroneous price of $50. During that…

Hong Kong Securities Watchdog Grants Preliminary Nod to HKVAX for Virtual Asset Exchange Operations

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The Securities and Futures Commission (SFC) of Hong Kong has issued an in-principle approval to the Hong Kong Virtual Asset Exchange (HKVAX) to establish and operate a virtual asset trading platform in accordance with the securities laws of the region, media reports said. On August 11th, HKVAX made an announcement confirming that it had received an “approval-in-principle” from the SFC, allowing the exchange to conduct regulated activities falling under Type 1 and Type 7 classifications. A Type 1 license authorizes the platform to operate a digital asset trading platform catering…

Top Crypto Exchange Binance Sinks $5,000,000 Into Curve (CRV) Following Massive Hack on the DeFi Platform

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The venture capital arm of crypto exchange Binance just announced that it is putting money into the native token of the decentralized finance (DeFi) platform Curve. In a statement, Binance Labs says that its $5 million investment in the Curve DAO Token (CRV) signifies its commitment to join forces with the largest stableswap and second-largest decentralized exchange (DEX). The announcement comes as the price of CRV dipped following a massive hack on the platform in late July. Says Binance Labs head Yi He, “Given the recent events that have impacted…

Bittrex Settles with SEC for $24 Million After Unregistered Exchange Charges

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Bankrupt cryptocurrency exchange Bittrex, along with its CEO, has reached a settlement with the Securities and Exchange Commission (SEC) for a sum of $24 million. This resolution comes after the SEC charged the exchange in April for its operation as an unregistered exchange, media reports said. Bittrex, its foreign affiliate, and former CEO William Shihara neither admitted nor denied the allegations. Bittrex’s foreign affiliate, known as Bittrex Global GmbH, has agreed to settle charges regarding its failure to register as a national securities exchange, according to an official statement by…

Decentralized Exchange PancakeSwap Launches on Arbitrum Layer-2 Blockchain in Expansion Drive

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Exchange tokens to consider in 2023: BNB, KuCoin, and Tradecurve

The market is dynamic, and keeping up with the latest price movements is essential for any trader and investor. Based on on-chain data, BNB (BNB), KuCoin Token (KCS), and Tradecurve‘s TCRV appear potent. BNB ‘s appeal BNB remains bearish, changing hands at $241. However, this has not discouraged investors from accumulating. The coin is steady, down 0.1% in the last seven days and 1.4% in the previous 30 days. Still, optimistic holders maintain the coin could break above $250 and possibly surge to new heights by the end of the year.  In the…

Decentralized Exchange Uniswap (UNI) Now Operating on Coinbase-Backed Layer-2 Base

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Leading decentralized exchange (DEX) Uniswap has been deployed on Base, the new Ethereum layer-2 built by US crypto giant Coinbase. Base is powered by the blockchain-scaling solution Optimism (OP), and its testnet first launched in February of this year. Announcing the launch of Base support on X, Uniswap Labs says that users can now execute swaps or add liquidity directly on the Base chain from the Uniswap web app. “Rumor has it that Base needs a DEX. We’re excited to announce that Base is now live on the Uniswap web…