“In terms of leverage, we don’t want this to turn into a full blown leverage casino. So for Bitcoin, the max leverage we are offering is 20x, and then for ETH and BNB, just 10x,” said Moro. “But of course, if we only traded bitcoin, ETH and BNB, then, frankly, that is a boring exchange. We will also have to offer derivatives on tokens that are less common and lower in the market cap table.” Source
The Thursday filing shares a detailed explanation of the company’s stance on the subject matter. The ongoing legal battle between the Coinbase exchange and the US Securities and Exchange Commission (SEC) has taken a new dimension. This follows after Coinbase issued its first legal response to SEC’s lawsuit early Thursday. Coinbase vs SEC In the response, the firm argues that the SEC has gone beyond its jurisdiction by coming at the crypto exchange in the first place. It further claimed that none of the digital assets listed on its platform…
U.S. crypto exchange Coinbase claimed that digital assets listed on its platform fall outside the U.S. Securities and Exchange Commission’s (SEC) purview in its first legal response to the regulator’s lawsuit. The SEC sued Coinbase at the beginning of June, alleging that a dozen of the cryptocurrencies offered through its wallet or trading platforms were unregistered securities. In its answer, filed early Thursday, Coinbase claimed that these cryptos are not investment contracts and therefore are not securities. Source
The Australian Securities Exchange (ASX) is unlikely to directly list a cryptocurrency on its exchange but could consider an “appropriately-backed” tokenized real-world asset such as gold. Speaking to Cointelegraph, Dan Chesterman, the ASX’s CIO and group executive of technology and data said while there are hurdles for it to directly list a cryptocurrency the company could consider listing tokenized real-world assets. “There’s been, in the past, challenges associated with getting to the stage we could directly list a cryptocurrency mainly because it doesn’t meet a lot of the listing rules,”…
“Binance will be changing the provider for EUR deposits and withdrawals via Bank Transfer (SEPA). Our current partner, Paysafe, will no longer be providing these services to Binance users from 25th September 2023,” a spokesperson for the exchange told CoinDesk in an email. Source
A new report is revealing that beleaguered crypto trading platform FTX has so far recovered billions of dollars in assets. The report says that the bankrupt crypto exchange has recovered $7 billion and expects to claw back even more. According to the new report, the global FTX platform owes its clients about $8.7 billion. “Based on the Debtors’ ongoing analysis, as of the petition date, the FTX.com exchange owed customers approximately $8.7 billion. The vast majority of the deficit—over $6.4 billion—was in the form of fiat currency and stablecoin that…
Bankrupt digital asset exchange FTX has kicked off initial discussions with potential investors as part of efforts towards relaunching the cryptocurrency trading platform, Wall Street Journal reported on Wednesday, citing John J. Ray III, the exchange’s new Chief Executive Officer. Explore limitless, instant crypto swaps. Choose from 1000+ coins and tokens and exchange with no registration or sign-up. Experience a platform that prioritizes your data privacy and fund security. According to the American publication, FTX is considering floating a rebranded entity operated through various structures, including as a joint venture.…
The possibility of FTX reopening its crypto exchange services under the new management has been tagged feasible by some industry observers. The FTX derivatives exchange, the bankrupt cryptocurrency trading platform, has recently unveiled its plans to revive its international crypto exchange, according to reports by Wall Street Journal. This decision comes in the face of a tarnished reputation, as its bankruptcy caused a series of setbacks and challenges that have affected its standing in the market. According to its CEO John Ray, the company remains determined to regain its position…
As of July 15, new customers will be required to complete identification checks to use KuCoin’s services. Source
Major cryptocurrency exchange KuCoin is working to strengthen its Know Your Customer (KYC) system by introducing new mandatory identity checks. On June 28, KuCoin officially announced the upcoming KYC system upgrade in a move to increase compliance with global Anti-Money Laundering regulations. The KYC authentication upgrade introduces mandatory KYC checks for all new users at KuCoin starting from July 15, 2023. Without completing KYC, newly registered users will not be able to access KuCoin’s suite of products and services, the firm said. Existing users who registered before July 15, 2023,…