Southeast Asian cryptocurrency exchange Zipmex submitted several moratorium applications under Section 64 of Singapore’s Insolvency, Restructuring and Dissolution Act 2018 last Friday on behalf of five of its entities, the company announced today. Zipmex Files for Moratorium Relief Moratorium relief protects debtors from legal action by creditors for a certain period. The time-out period gives...Read More
The Thailand-based cryptocurrency trading venue – Zipmex – might solve its issues with the help of a future partner. The exchange, which halted withdrawals last week, has discussed its situation with “various interested parties,” and some could offer a rescue plan. A few days ago, one of the leading crypto exchanges in Southeast Asia –...Read More
On July 21, the U.S. Department of Justice filed an indictment against Ishan Wahi, a former Coinbase manager, and two other individuals for obtaining approximately $1.5 million through cryptocurrency insider trading on the Coinbase exchange. According to the Department of Justice, this is the first case of insider trading in the crypto industry. The defendants...Read More
On July 18,2022, an anonymous source linked to the crypto exchange Gemini said that the company had laid off 7% of its workforce. The source, who spoke with the Tech media outlet TechCrunch, said that Gemini reportedly fired at least 68 workers in a low-key manner. The source found out about it because the workers...Read More
Crypto spot and derivatives volumes across exchanges have fallen more than 15% since May to around $4.2 trillion amid the extended market correction, according to data collected by CryptoCompare. It shows that the market has failed to recover from the historical damage done in the second quarter of this year. Volume Slump Persists Crypto trading...Read More
Brazilian digital payments startup PicPay is diving fully into the cryptocurrency wormhole, announcing a series of Web3-focused services ranging from the launch of a stablecoin to a fully-featured cryptocurrency exchange. With more than 62.9 million registered users, PicPay is one of Brazil’s most prominent startups. Until today’s announcement, the fintech has focused on offering a...Read More
Crypto derivatives exchange CoinFlex is unlikely to restore withdrawal services on its platform on Thursday as promised by CEO Mark Lamb on Monday. Speaking to CNBC, Lamb clarified that the company needs more time to fix the liquidity crisis arising out of a $47-million negative equity of a customer – Roger Ver. “We will need...Read More
The Liechtenstein-based cryptocurrency exchange – Unizen – secured a $200 million funding to accelerate its development in numerous fields. The fundraiser was led by the investment management giant Global Emerging Markets (GEM). Unizen is Looking Towards a Rapid Expansion In a recent announcement, the trading venue vowed to employ the multi-million financing to expand the...Read More
Last week, cryptocurrency derivatives exchange CoinFLEX joined a growing list of digital asset platforms to halt withdrawals due to market uncertainty and issues with its counterparty. The company has now unveiled a recovery plan that involves the creation of a new token. CoinFLEX to Raise $47 Million Announcing the solution on Monday, CoinFLEX said it...Read More
In India, the downturn in the crypto market and the government’s overly restrictive control over the industry have caused many exchanges to suffer, not only because of a decline in adoption but from regulatory uncertainty. Meanwhile, the “anti-crypto” Reserve Bank of India (RBI) continues to work on its pilot project to introduce blockchain technology into...Read More
Futures cryptocurrency exchange CoinFLEX has paused all withdrawals on the platform as a result of the current extreme market conditions and issues involving a counterparty. 3AC Not the Cause of CoinFLEX’s Suspension CoinFLEX CEO Mark Lamb announced the news in a blog post on Thursday (June 23, 2022), which reads: “Due to extreme market conditions...Read More
The US-based cryptocurrency platform FalconX closed a $150 million fundraiser led by the investment giants – GIC and B Capital, and its valuation surged to $8 billion. Despite the Crash, FalconX Keeps Progressing In a recent interview for Reuters, FalconX’s Founder and CEO – Raghu Yarlagadda- said his company’s valuation was less than $4 billion...Read More
As the bear market spreads, more cryptocurrency exchanges are joining the wave of mass layoffs, even though some analysts suggest that the bottom might be in. On June 19, BitOasis, a cryptocurrency exchange located in the United Arab Emirates, which has been serving the Middle East since 2015, announced the layoff of 5% of its...Read More
The native token for Optimism (OP) – an Ethereum layer 2 scaling solution – is prepared for its airdrop scheduled for today. Multiple exchanges including KuCoin, OKX, MEXC, AAX, and LBank have already announced plans to list the token. Earlier today, OKX announced that OP deposits would start being accepted at 16:30 UST on Tuesday....Read More
Sumitomo Mitsui Trust – one of the largest asset managers in Asia – will tap Tokyo-based crypto exchange Bitbank to set up a company offering digital asset services to institutional clients this year. The newly created firm will hold cryptocurrencies and Non-Fungible Tokens (NFTs) for “large investors and corporations.” Sumitomo Mitsui Trust Focused on Security...Read More
The Korea Fair Trade Commission (KFTC) is reportedly ready to impose tougher regulations on Dunama – the parent company of the country’s largest crypto exchange, Upbit – by classifying it as a “large enterprise.” The authority deems firms with more than 5 trillion won ($4.03 billion) assets subject to stricter regulatory scrutiny, requiring them to...Read More
A news report suggesting that India’s hostile policy towards the digital asset sector is leading to an exodus of crypto-entrepreneurs from the country has said that Nischal Shetty and Siddharth Menon, both co-founders of WazirX, have left India along with their families for Dubai. Shetty and Menon are CEO and COO at WazirX, respectively. The...Read More
Indian cryptocurrency exchange CoinDCX announced on Tuesday a $135 million Series D funding round. The company’s valuation in the new round has nearly doubled to $2.15 billion from $1.1 billion in August 2021. Co-founder and CEO of the firm Sumit Gupta announced the news on Twitter, saying he was “excited to share that CoinDCX has...Read More
As one of the major crypto exchanges in Europe, CurrencyCom has a solid customer base in both Russia and Ukraine. On Saturday, the company confirmed that it had been attacked hours after announcing plans to halt onboarding new customers from Russia and reassured its customers that the attack was a failure. The owner of CurrencyCom,...Read More
The US Securities and Exchange Commission (SEC) – urged local companies that provide crypto services to disclose the associated risks with such operations to clients. The agency warned investors to be utterly cautious when delving into the asset class as they could experience a financial loss. Crypto Firms Should be Held Accountable The US SEC...Read More
Crypto.com continues to make waves in the world of sports, this time with a significant partnership with the world’s most important soccer association. Tuesday, 22 March 2022, FIFA announced a sponsorship deal with Crypto.com for the FIFA World Cup Qatar 2022™, giving it the right to become the exclusive cryptocurrency trading platform sponsor of Qatar...Read More
MaiCoin Group – the parent company of Taiwan’s largest crypto platform – is reportedly considering becoming a publicly-traded firm within the next two years. Ambitions for Nasdaq According to a recent coverage by Bloomberg, MaiCoin will soon complete a Series C funding round, after which the exchange’s valuation could reach approximately $400 million. The trading...Read More
The Japanese authorities reportedly urged local cryptocurrency platforms to stop facilitating digital asset transactions subject to sanctions against Russia and Belarus. The Asian nation is among the superpowers that imposed financial penalties on the largest country by landmass. Previously, Japan froze the assets of nearly 50 Russian and Belarusian oligarchs alleged to be part of...Read More
Crypto.com has made a new move in its aggressive sports marketing campaign, partnering once again with Formula 1 to become the official title partner of the new Formula 1 Crypto.com Miami Grand Prix. The announcement comes just days before the airing of the Super Bowl LVI, the most watched sporting event in the United States,...Read More
Investment-oriented social network StockTwits is expanding its services in a move to gain traction in the crypto-verse and take a slice of the audience that Twitter, Reddit, and even eToro have today. Now, StockTwits users will have the opportunity to buy and sell cryptocurrencies directly from the app’s interface, offering an all-in-one experience for digital...Read More
Kraken is stepping up its crypto game. After a successful year, the U.S. exchange decided to close 2021 with the acquisition of Staked, thus expanding its token staking capabilities and generally improving the quality of its services. Staked is a non-custodial crypto staking platform, which facilitates the secure storage of assets while providing attractive yield...Read More
2TM Participacoes, the parent company of Brazil’s largest cryptocurrency exchange, Mercado Bitcoin, has recently raised $50 million from investors to further its expansion project. Crypto Service Expansion in LatAm According to a Tuesday report by Bloomberg, the company will use the funds to increase its product offering and expand its services to other Latin American...Read More
BigONE Exchange, one of the world’s safest crypto exchanges, has taken on a new sheen as it just launched a brand new VIP system that converts a user’s every engagement with the platform into his or her own benefits, be they discount on spot trading fees, reduction on leverage interests rates, or an increased referral...Read More
Following certain Twitter accounts can grant one unique insight into the cryptocurrency world. Three recent Bitcoin transactions worth millions of dollars have attracted plenty of attention, yet no one knows what is going on exactly. When large sums of crypto funds are being moved around, everyone is perking up. Three Whale Transactions in one Bitcoin...Read More
Any cryptocurrency exchange is always subject to intrusion. Coincheck, a Japanese platform, found that out the hard way once again. Suffering from a data breach is never fun for a company. Coincheck may Have Been Breached Again This is especially true if said company controls user funds on a daily basis. For Coincheck, it seems...Read More
