Tag: Exchange

Chancer Announces BitMart Exchange Listing as Presale Races Past $1m Mark

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Chancer, one of the most exciting new crypto projects in 2023, has raced past the significant $1 million fundraising milestone. This coincides with the announcement that their first exchange listing will take place on BitMart – a hugely popular exchange with users in over 180 countries with a trading volume of over $500 million per day. Those interesting in getting involved at the current price can do so at $0.011 before it rises by 9% to $0.012 in Stage 3 of the presale. Chancer’s CEO, Adam Kelbie, commented: “We’re thrilled…

3AC-linked exchange bids $30m to acquire troubled Holdnaut

Founders of the defunct hedge fund Three Arrows Capital (3AC) are actively promoting their newly launched digital asset exchange, OPNX, as they seek to acquire struggling cryptocurrency lender Hodlnaut. OPNX aims to rescue Hodlnaut with an infusion of funds amounting to $30 million in FLEX digital tokens traded on the CoinFlex exchange. Hodlnaut, which operates in Singapore and Hong Kong, has been undergoing a court-monitored reorganization due to financial troubles. The tokens, owned by OPNX co-founders Mark Lamb and Sudhu Arumugam, will facilitate a partial payout to creditors, effectively concluding…

OPNX exchange bids for crypto lender Hodlnaut in Singapore

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Crypto lender Hodlnaut appears to have found a white knight investor to exit its bankruptcy proceedings. According to a Bloomberg report, OPNX exchange has made an offer to take over 75% of the company. The deal would see a capital injection of nearly $30 million worth of FLEX tokens into Hodlnaut to partially cover creditors’ payout and outstanding claims. According to CoinMarketCap, FLEX is trading at $7.16 as of this writing, bringing the capital injection to nearly $215 million. Hodlnaut’s restructuring is being overseen by a Singapore court. If approved…

Crypto Exchange Binance Announces Addition of Shiba Inu (SHIB) As Collateral Asset for Flexible Loans

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The world’s largest crypto exchange platform by volume has announced support for memecoin Shiba Inu (SHIB) as a collateral asset for one of its loan programs. In a new company statement, Binance says that it’s adding SHIB, alongside a handful of other altcoins, as collateral to its flexible loan feature. Binance’s flexible loans allow users to take out loans collateralized by cryptocurrencies without needing to commit to a specific loan term for the duration of the loan. Other digital assets included in the loan program as supported collateral include blockchain-based…

Top US Crypto Exchange Coinbase Asks Court To Toss SEC Lawsuit, Accuses the Regulator of Violating Due Process

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Coinbase is asking a court to dismiss the U.S. Securities and Exchange Commission’s (SEC) lawsuit against the top US-based crypto exchange. In a new thread, Paul Grewal, Coinbase’s chief legal officer, says that the crypto firm is seeking to discard the lawsuit because they believe the regulatory agency is violating due process. According to Grewal, the SEC is ignoring a decades-long precedent established by the Supreme Court. “Today, Coinbase filed our brief asking the Court to dismiss the SEC’s case against us. Our core argument is simple – we do…

Coinbase earnings show the company is now much more than just an exchange

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Coinbase, a leading U.S. cryptocurrency exchange, shared its 2Q results on August 3. Despite showing a net loss, some positives emerged, like a 13% cut in operating expenses from the last quarter and a 3% boost in its cash reserves to $5.5 billion.  Coinbase key financial metrics, USD million. Source: Coinbase However, the exchange took a hit with a $97 million net loss, worse than its previous quarter, and saw a 32% drop in its adjusted EBITDA to $194 million in 2Q. Services and USDC stablecoin impact growth One downside…

Bitfinex Heist: Ilya Lichtenstein Admits He Was Behind Colossal 2016 Crypto Exchange Hack

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The notorious “Crypto Couple” Ilya Lichtenstein and Heather Morgan pled guilty on Thursday to money laundering conspiracies relating to the massive 2016 hack on the crypto exchange Bitfinex. Lichtenstein also copped to executing the hack himself, clearing up years of mystery regarding how the couple first came into possession of the stolen Bitcoin (BTC) from Bitfinex. The U.S. Department of Justice (DOJ) says Lichtenstein used “a number of advanced hacking tools and techniques” to crack Bitfinex’s network and fraudulently authorize more than 2,000 transactions. In total, he transferred 119,754 BTC,…

Crypto Exchange Upbit Moves Up to No. 2 in Spot Trading Volume

Coinbase, the biggest publicly traded U.S. crypto exchange, announced that Base, its layer-2 blockchain built with Optimism’s OP Stack, will open to the public next Wednesday. Base went live for developers in July so that they could test applications on the network. Users are now able to transfer their ether to Base, Coinbase wrote in a blog post. The Base announcement came ahead of Coinbase releasing its second-quarter results. Its revenue topped analysts’ expectations, and its loss was narrower than expected. Source

Actor Adam DeVine appears in new Bitget exchange ad

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American actor and comedian Adam DeVine has appeared in a new paid advertisement created by crypto exchange Bitget. “Now it’s time to make our wildest dreams come true. Trade crypto from the comfort of your race car bed at 2:00 am. I don’t give a care. Business hours? Thing of the past,” says DeVine in a newly released clip, titled “Crypto and Chicken Nuggets.” Actor Adam DeVine in the new Bitget advertisement. Source: Bitget Throughout the video, the actor can be seen holding a smartphone and making jokes regarding the…