Revolut, a leading fintech firm from the United Kingdom (UK), has recently announced the discontinuation of support for three major cryptocurrencies on its platform. In an email sent to users based in the United States (US) on June 28, Revolut stated that Cardano (ADA), Polygon (MATIC), and Solana (SOL) will no longer be available for
Exchanges
CME Group, a prominent trading platform for derivatives, has announced its plans to introduce Ether/Bitcoin ratio futures this summer, subject to regulatory approval. This new futures product, set to launch on July 31, 2023, will enable traders to speculate on the relative price movement between the two cryptocurrencies. About Ratio Futures Contracts A ratio futures
EDX Markets, a crypto exchange backed by Charles Schwab, Fidelity, and Citadel Securities, has reportedly terminated its planned collaboration with Paxos and is now close to finalizing an agreement with Anchorage Digital, according to Bloomberg. In October of last year, EDX Markets had originally announced its partnership with Paxos. Paxos, a New York-based blockchain firm
Belgium’s Financial Services and Markets Authority (FSMA) has ordered the global cryptocurrency exchange and blockchain platform, Binance, to immediately halt all cryptocurrency services offered in the country. The FSMA issued a statement on June 23, citing concerns over Binance’s exchange services between virtual and legal currencies and custody wallet services, which were found to originate
Binance.US, a cryptocurrency exchange, has announced that it has resolved almost all delayed U.S. dollar withdrawals. The company has also warned customers that USD withdrawals may soon be removed due to its banking partners discontinuing the service. Resolution Binance.US has been working with its banking partners to restore USD withdrawals but has suggested that this
OPNX, a cryptocurrency exchange, has recently announced a partnership with 3AC Ventures. The announcement of the partnership was met with criticism from the crypto community. The purpose of the partnership is to expand the OPNX ecosystem. However, no further details were given about the expansion plans. Partnership Details The co-founders of OPNX are Kyle Davies
Binance, the controversial crypto exchange, has announced the launch of a regulated digital asset platform in Kazakhstan. The exchange has secured licensing from Kazakhstan’s AIFC Financial Services Authority (AFSA) to manage the platform and provide custodial services at the Astana International Finance Center (AIFC) from October 2022. The new platform will offer Kazakhstani users exchange
Gemini, the digital assets exchange led by Tyler and Cameron Winklevoss, has announced its plan to expand its operations in the Asia-Pacific (APAC) region. The company aims to increase its headcount in Singapore to over 100 employees in the next 12 months, according to a company announcement made on June 19, 2023. The Singapore office
Crypto.com has been accused of having a potential conflict of interest due to its internal trading team operating as a market maker on its platform, according to a report by the Financial Times. Market makers provide liquidity, which allows users to buy and sell quickly at prevailing market prices, reducing the risk of price fluctuations
CoinEx, a Hong Kong-based cryptocurrency exchange, has agreed to pay over $600,000 in penalties and refund $1.17 million to its 4,691 New York investors in cryptocurrencies over the next 90 days. This decision was made in compliance with the New York Attorney General Letitia James’ regulations. The Attorney General stated that this agreement would warn
Changpeng Zhao, CEO of Binance, has denied rumours that the exchange was selling Bitcoin to protect BNB’s price. In a tweet on June 13, CZ stated that Binance had not sold BTC or BNB and that the exchange still held a bankrupt FTX’s FTT. The statement was in response to several market analysts who alleged
According to recently published data from CryptoCompare, Bitcoin (BTC) is currently trading at a premium of more than 1% on Binance.US. This is despite the fact that the exchange’s USD trading volume has dropped to new lows following the U.S. Securities and Exchange Commission’s (SEC) lawsuit against the company. BTC is currently trading above $26,000
Binance CEO Changpeng Zhao has denied allegations made by the US Securities and Exchange Commission (SEC) that one of his holding firms received $12 billion in US customer funds. Responding to a Coindesk article that cited a court filing as its source, Zhao stated that “this is simply false” and that Binance.US had only around
According to data from DeFillama, crypto traders using Binance US withdrew $78.48 million on June 7, despite assurances that their funds were safe. This news follows a report that the US Securities and Exchange Commission (SEC) had sued Binance.US for violating federal securities law and placing investors at risk. On June 5, Binance US recorded
On-chain analyst Willy Woo has stated that Binance customers are not concerned about recent enforcement actions by the Securities Exchange Commission (SEC). He made these comments regarding Bitcoin holders on the main global platform. However, further analysis showed that Binance.US altcoin holders have been withdrawing significant funds. The SEC filed a motion on June 6,
Binance.US, the US-based subsidiary of the troubled Binance exchange, has described the lawsuit filed by the US Securities and Exchange Commission (SEC) against its platform as “baseless.” In a statement released on June 5, Binance.US stated that the lawsuit was another example of the financial regulator’s regulatory approach by enforcement towards the cryptocurrency industry. According
According to Reuters, Guangying Chen, a top executive at Binance, reportedly controlled five bank accounts of the exchange’s independent U.S. subsidiary between 2019 and 2020. Bank records reportedly show that Silvergate Bank authorized Chen as the “Primary Admin User” of the five bank accounts. One of the accounts held American customers’ funds, while another was
On May 31, Binance announced its plan to delist certain privacy coins, including Secret (SCRT), Zcash (ZEC), and Dash (DASH), for users in unspecified jurisdictions on June 26. The exchange stated that the decision was made to comply with local laws and regulations regarding the trading of these coins. Response from Privacy Coin Projects However,
Binance, a popular cryptocurrency exchange, recently announced its decision to withdraw from the Canadian market. Changpeng Zhao, the CEO of Binance (also known as CZ), explained that the regulatory requirements in Canada made it unfeasible to continue operating in the country. The exchange cited new regulatory guidance on stablecoins and investor limits as the reasons
Bybit, a cryptocurrency exchange, has announced that it will be halting all services and products being offered in Canada until further notice due to regulatory developments in the country. Canadian nationals and residents of the country will no longer be able to open new accounts with the exchange starting May 31. Existing Customers Can Continue
Paxful, a peer-to-peer bitcoin marketplace, has announced the appointment of Roshan Dharia as its interim CEO. In his new role, Dharia will focus on strengthening the company’s operations and exploring strategic alternatives. Dharia expressed his excitement about the opportunity, saying, “It’s a great honor to become CEO of Paxful. I look forward to hitting the
CoinEx, a cryptocurrency exchange, has announced that it will launch a new exchange for Hong Kong users called “BitHK.” The exchange will support Hong Kong dollar (HKD) and peer-to-peer (P2P) trading. It aims to offer safe and compliant trading and will be available in English and traditional Chinese. CoinEx’s Application to Operate as a VASP
BKEX, a cryptocurrency exchange, has halted all withdrawals due to funds being used for money laundering. The exchange issued a statement on May 29, stating that it was cooperating with law enforcement agencies to gather evidence. BKEX has assured its customers that it would do everything possible to restore normal operations. Withdrawals Suspended Indefinitely The
Binance, the popular cryptocurrency exchange, has received a digital asset operator license from Thailand’s Ministry of Finance for its joint venture with Gulf Innova. Gulf Innova is a subsidiary of Gulf Energy and the two firms have been working together to launch a compliant-first exchange. Plans for the partnership According to a press release from
Heimdall, a provider of business tokenization solutions, has partnered with OPNX to introduce a bankruptcy tokenization product. The product will allow users to access liquidity even if their funds are frozen on defunct platforms. The bankruptcy tokenization provides an alternative to the lengthy bankruptcy administration process that can take years to resolve. Why Celsius was
Alexander Vinnik, co-founder of BTC-e, is currently being held in the United States on charges of money laundering, aiding ransomware attacks, identity theft schemes, and drug trafficking. The US Department of Justice originally charged Vinnik in 2017, and BTC-e was seized and halted by US authorities in July 2017. Prisoner Swap According to The Wall
OPNX co-founder Mark Lamb has announced that its bankruptcy tokenization product will be available for Celsius users in a week. The product will help users with funds frozen on defunct crypto platforms to unlock their underlying value and recoup their locked funds. OPNX went live on April 4, offering spot and derivative trading. However, its