South Korean Bitcoin Exchanges Post Highest Fiat Influx

An average bitcoin investor in South Korea has dumped more fiat money than the one in other countries, reveals CryptoCompare. The London-based data analytics firm found that cryptocurrency exchange BitHumb has received over $16 billion worth of fiat money in April 2019. The firm further noted that Upbit, a BitHumb-rival, posted the second-best influx of fiat-based capital at around $7.5 billion in the same month. At the same time, US-based exchanges Coinbase, Gemini, and Kraken paled in comparison, posting capital injections between $1-5 billion each. South Korean Crypto Market Attracting…

What Crypto Exchanges Do to Comply With KYC, AML and CFT Regulations

While it’s possible to buy top cryptocurrencies like bitcoin (BTC) and ether (ETH) in the over-the-counter (OTC) market, most people will need an exchange in order to buy other altcoins. Exchanges are simply an important component of the system that makes the crypto market tick. Regulators around the world have identified this, which is why regulatory moves have primarily targeted exchanges. Regulators want to be sure that exchanges employ the best security practices as well as measures — Know Your Customer (KYC), Anti-Money Laundering (AML), and Combating the Financing of…

Proposed Securities Framework Wrong for Regulating Crypto Exchanges, Argues Kraken

Canadian exchange Kraken has published a paper arguing against proposed regulation of crypto assets by the Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC). The exchange shared its comments in an official twitter post on May 16. Kraken says that the proposed framework considers the contractual arrangement between an exchange and an exchange user as a security. Kraken denies that these contracts constitute securities: “…most reputable exchanges operate as custodians or bailees. As such, the assets are legally owned by the customer and not the…

Report: Mass Withdrawals from Exchanges Could be Behind Bitcoin’s Price Rally

Citing data from blockchain research firm TokenAnalyst, Bloomberg reported on May 15, 2019, that the current boom in the price of bitcoin (BTC) might just be the consequence of investors withdrawing their holdings from large exchanges due to renewed ambiguity surrounding their financial health. Bitfinex Tether Fiasco Could have Indirectly Pumped the Market The study by London-based blockchain research company TokenAnalyst concluded that crypto withdrawals from major crypto exchanges including Bitfinex, BitMEX, Binance, and Kraken eclipsed crypto deposits by as much as $622 million over the past five days. The…

Capital Outflows From Major Crypto Exchanges Exceeded Inflows by ~$622 Mln in Recent Days

Blockchain data provider TokenAnalyst estimates that capital outflows from major crypto exchanges have exceeded inflows by ~$622 million over the past five days, Bloomberg reported on May 15. London-based TokenAnalyst has reportedly based its figure on an analysis of withdrawals and capital inflows on multiple crypto trading platforms — including Bitfinex, BitMEX, Binance and Kraken. While bitcoin (BTC) continues to rally and hit multi-month highs, Bloomberg’s report also makes the claim that its strong price performance may in part be inflated by recent capital flight from investors unsettled by the…

‘Predatory’ Bots Exploiting Decentralized Crypto Exchanges: Report

Arbitrage bots are exploiting “inefficiencies” in decentralized exchanges (DEX), according to a report. Citing recent research from Cornell Tech, Homeland Security News Wire said on Monday that such cryptocurrency platforms are being used by “predatory users” to profit from everyday trades, “siphoning millions or possibly billions of dollars a year in cryptocurrency.” In some cases, high fees are paid to prioritize certain transactions, posing a security threat to entire blockchains, the piece said. According to the article: “Like high-frequency traders on Wall Street, these bots exploit inefficiencies in DEXes, paying high transaction…

‘Predatory’ Bots Exploiting Decentralized Crypto Exchanges: Report

Arbitrage bots are exploiting “inefficiencies” in decentralized exchanges (DEX), according to a report. Citing recent research from Cornell Tech, Homeland Security News Wire said on Monday that such cryptocurrency platforms are being used by “predatory users” to profit from everyday trades, “siphoning millions or possibly billions of dollars a year in cryptocurrency.” In some cases, high fees are paid to prioritize certain transactions, posing a security threat to entire blockchains, the piece said. According to the article: “Like high-frequency traders on Wall Street, these bots exploit inefficiencies in DEXes, paying high transaction…

Homeland Security Warns Bots Are Exploiting Decentralized Crypto Exchanges

The U.S. Department of Homeland Security has warned that arbitrage bots are exploiting inefficiencies in decentralized exchanges (DEX). Citing recent research from Cornell Tech, the department said on Monday that such cryptocurrency platforms are being used by “predatory users” to profit from everyday trades, “siphoning millions or possibly billions of dollars a year in cryptocurrency.” In some cases, high fees are paid to prioritize certain transactions, posing a security threat to entire blockchains, the agency said. According to the article: “Like high-frequency traders on Wall Street, these bots exploit inefficiencies in…

Stakeholders Call for Major Bitcoin Exchanges to Delist Tether

There is currently a growing call from many in the cryptocurrency industry for major Bitcoin exchanges to delist Tether (USDT). This development comes amid an investigation into suspected fraudulent activity by Tether and Bitfinex running into almost a billion USD. If Bitcoin SV, Why Not Tether? On social media platforms like Reddit and Twitter, commentators are calling on the likes of Binance and other prominent cryptocurrency bourses to delist the controversial Tether stablecoin. Some point to the decision by Changpeng Zhao, the Binance chief, to delist Bitcoin SV back in…

True Ranking of Crypto Exchanges According to Blockchain Data

“During a gold rush, it’s a good time to be in the pick and shovel business.” - As the business adage goes, many new cryptocurrency exchanges have popped up in the past year to take advantage of the gold rush in cryptocurrency markets.  Surprisingly, several newcomers appear to be overtaking incumbent players in terms of reported trading volume. Many new exchanges - including BitMax, Fcoin, Coinbene, ZB.com, Fatbtc, LBank, and Bibox -have all reported trading volumes greater than established players such as Binance, Kraken, and Bitfinex. However there are good reasons to be skeptical…