Tag: Trading

How Crypto Trading Platforms Must Adapt

In the wake of FTX, regulatory concerns have intensified, spotlighting the need for stricter oversight of exchanges, enhanced consumer protection and a global standard to curb regulatory arbitrage. The collapse has sparked industry debates on the risks of centralized platforms, emphasizing the need for better risk management and a potential shift towards decentralized exchanges all while impacting market stability and investor confidence and necessitating steps to rebuild trust. Source

Binance’s spot trading market share falls to 40% in 2023: Report

Crypto exchange Binance’s market share in spot trading has fallen to 40% in late 2023, compared to 62% a year ago. According to the November 6 report by blockchain analytics firm 0xScope, the exchange has lost one-third of its market share in the past 12 months. “Binance’s spot trading volume has seen a significant decline in the past year, perhaps due to its listing strategy,” researchers wrote, “Most popular coins experienced a downturn immediately after being listed on Binance.” At the same time, Korean crypto exchange Upbit saw the most…

Coinbase cuts net loss amid declining trading volume in Q3 2023

Coinbase, a cryptocurrency exchange, reported a net loss of $2 million in Q3 2023 despite rising revenue and a drop in trading volume, according to details of the recent shareholders letter circulated on Nov. 2.  However, the exchange reduced its net loss compared to the same period last year, which was $545 million.  The company’s total revenue was $674.1 million, an increase of 14.2% compared to last year, with $334.4 million coming from subscriptions and services, and $288.6 million from transaction revenue. Consumer trade volume was $11 billion, while institutional trading volumes…

FTX legal consultants turned over customer trading records to FBI

Multiple FBI offices have received data on FTX customer accounts from Alvarez & Marsal, a law firm advising the now-defunct crypto exchange under bankruptcy administrators led by litigation veteran John Ray III. Alvarez & Marsal reportedly transferred the data to some five Federal Bureau of Investigation (FBI) field offices in compliance with a subpoena from the U.S. investigators. The documents sent to the FBI were extracted from FTX’s cloud base on Amazon’s AWS, per Bloomberg. Per the billing record submitted to a bankruptcy court, the records turned over to FBI…

Injective Chooses Kava Native USDT for its Perps Trading – Blockchain News, Opinion, TV and Jobs

Injective, a Cosmos Layer-1 blockchain designed to power next-generation DeFi applications, has selected the Kava Chain’s Native USDT for their Perps trading. The Kava Chain is a secure, lightning-fast Layer-1 blockchain that combines the developer power of Ethereum with the speed and interoperability of Cosmos. This collaboration is poised to bring significant benefits to users of both platforms, signaling that this transformative partnership is set to reshape the world of DeFi. The integration of Kava Chain’s capabilities with Injective’s revolutionary DeFi technology is set to offer a host of advantages…

How Banking Giant HSBC Is Using Blockchain Platform To Change The Gold Trading Game

HSBC Holdings Plc, one of the world’s leading bullion banks, has launched a blockchain-based platform to modernize the traditional and manual processes of the London gold market. The new platform tokenizes ownership of physical gold housed in HSBC’s London vault, offering a digital representation of gold bars for trading. A Modern Twist to Gold Trading: HSBC Tokenizes Physical Gold In an interview, Mark Williamson, the Global Head of FX and Commodities Partnerships and Propositions at HSBC, disclosed that their innovative system employs distributed ledger technology. This “cutting-edge” system uses digital…

Coinbase narrows loss while crypto trading volumes fall in Q3

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Cryptocurrency exchange Coinbase narrowed its net loss to $2 million in the third quarter, as inotched a year-on-year increase in revenue despite lower trading volumes. The firm’s net loss in Q3 was trimmed from a $545 million net loss in the prior year period, according to a Nov. 2 earnings statement. Total revenue increased 14.2% year-on-year to $674.1 million, though quarter-on-quarter revenue fell 4.8%. The figure beat London Stock Exchange Group’s estimate of $653.2 million, according to a report from Reuters. Of the total revenue, $334.4 million came from subscription…

Swiss Bank SGKB Partners with SEBA Bank to Bring Bitcoin and Ethereum Trading to Clients

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The Swiss banking industry has been incredibly receptive to crypto with many local banks adding cryptocurrency services to their offerings. Swiss bank St.Galler Kantonalbank (SGKB) has launched Bitcoin and Ether trading with plans to add more cryptocurrencies in the future based on client feedback. The cryptocurrency service is made possible by a partnership with crypto-focused bank SEBA and comes after a brief testing period earlier this year. Launched on November 1, the service is currently available to a select group of clients. The service is St.Galler Kantonalbank’s (SGKB) first foray…

Coinbase unveils crypto futures trading for eligible US traders

Coinbase Financial Markets has officially launched crypto futures trading for eligible US traders, following its approval to operate as a futures commission merchant by the National Futures Association. Coinbase Financial Markets has expanded its offerings by introducing crypto futures trading to eligible US traders. This move follows the company’s clearance to operate as a futures commission merchant by the National Futures Association in August. A futures contract represents a legal agreement to purchase or sell an asset at a predetermined price at a specified future date. For traders, futures offer…