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Tag Archives: Exchange

Huobi Korea to Break Away from Huobi Global With Shares Buyback

On January 9, reports circulated that the cryptocurrency exchange Huobi Korea announced plans to sever its relationship with its parent company Huobi Global. According to the statement shared by News1, Huobi Korea will change its name to divorce itself from Huobi Global, as they have been facing a lot of problems due to domestic regulations. Huobi Global is a cryptocurrency exchange founded in 2013 by Du Jun and Leon Li, the company’s current CEO. At the time, Huobi was one...

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Should Every Crypto Exchange Become Decentralized? Analysts Weigh In

The cryptocurrency exchange FTX has seemingly come and gone. The fall of the exchange will likely go down as one of the biggest embarrassments of the digital currency space, and as a result, many players within the industry are calling for exchanges to become less centralized. They are certain that decentralized finance (or defi as it’s called for short) is the answer to many of crypto’s problems. Every Exchange Is Being Told What to Do There is a big idea flowing...

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Binance Acquires Indonesian Exchange Tokyocrypto

The crypto winter is proving to be unbearable for some, but other businesses enjoy the cold weather. Binance is taking advantage of the current market conditions to expand into the Asian market by acquiring its third licensed crypto exchange. This Dec. 19, Binance confirmed that it became the majority shareholder of Indonesian cryptocurrency exchange Tokocrypto, appointing a new CEO following the resignation of Pang Xue Kai, its founder and now former CEO. As reported by CNBC...

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Binance Moves Over $2Bn in BTC As Part of a Proof-of-Reserves Audit

A significant outflow of funds belonging to Binance set off alarms in the cryptocurrency community today. According to a Tweet from Whale Alerts, the exchange pulled out more than 127,000 BTC in a single transaction, depositing the coins in an anonymous wallet address. 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 127,351 #BTC (2,062,504,721 USD) transferred from #Binance to unknown wallethttps://t.co/zNYPuJuoRe — Whale Alert (@whale_alert) November 28, 2022 Of course, it was to be expected that,...

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Crypto Exchange Bitget Expands to Africa. Plans To Hire 400 New Workers

The cryptocurrency winter has been colder for some than others. While some cryptocurrency exchanges are forced to conduct massive employee layoffs to weather the bear market, others like Bitget continue to make massive hires to improve their services. On November 25, the cryptocurrency and crypto derivatives exchange Bitget announced its registration in the Seychelles, Africa, as a means to facilitate its global expansion. As reported by The Cryptonomist, Bitget plans to...

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CryptoCom Sends Letter to Clients Assuring Their Funds Are Safe. CRO Recovers 30% Since Yearly Low

The freezing crypto winter and the fall of the FTX empire have hit the entire industry. As confidence in CEXs dwindles, the CEOs of the various platforms have been quick to try and calm their customers’ fears. Crypto.com has been in the social media spotlight because of this exact reason. Following an AMA from its CEO, the exchange sent an email to its clients assuring everyone that their funds are safe and available for withdrawal or trading on a 24/7 basis. Funds Are Safe...

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Over $8 Billion Withdrawn From Exchanges Following FTX Collapse

Net exchange outflows have soared in the wake of FTX’s bankruptcy, inciting crypto holders everywhere to look after their own digital assets.  Data from on-chain analysis firm CryptoQuant shows that over $8 billion in crypto has flowed off of centralized exchanges since November 6th – when worries about FTX’s solvency began to propagate. Since Binance CEO Changpeng Zhao’s worrying statements about FTX last week, $3.7 billion worth of Bitcoin has been withdrawn from...

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Bittrex Fined With $53 Million For Violating Anti-Money Laundering Laws

Cryptocurrencies are supposed to be censorship resistant… Cryptocurrency exchanges, not so much. Bittrex found this out the hard way after a record fine imposed by the U.S. regulators. On October 11, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) announced that Bittrex, a Washington-based cryptocurrency exchange, will be fined $53 million for violating multiple securities laws. According to...

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Binance Launches Training Program For Law Enforcement Agencies

For several years now, Binance has played an important role as the big brother of the crypto industry by assisting in the recovery of funds from users who have been victims of theft, scams, or hacks. But now, they are aiming higher with an e-crime training program. On September 27, Binance announced the official launch of its “Global Law Enforcement Training Program,” created to help law enforcement agencies combat financial and electronic crimes that involved crypto or...

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Coinbase Exec’s Brother Pleads Guilty to Cryptocurrency Wire Fraud

The U.S. Department of Justice released a statement on September 12 reporting that Nikhil Wahi, brother of ex-Coinbase product manager Ishan Wahi, pleaded guilty to committing cryptocurrency wire fraud using insider information sourced from his brother. Per the release, Nikhil Wahi faces up to 20 years of possible jail time. In addition, he will have to forfeit all unlawfully obtained monetary gains. Ishan Wahi, on the other hand, pleaded not guilty in early August to the...

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