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Tag Archives: Exchange News

Several Seeking Damages from Binance Following Outages

A crypto trader named Fawaz Ahmed is pursuing legal action against cryptocurrency exchange Binance, claiming that it cost him millions of dollars in lost Ethereum. Binance Could Find Itself in Court When Ahmed saw the price of Ethereum slipping, he felt it was time to sell his coins and exit the trading space for a while. Unfortunately, this was not something he was able to do given that the exchange was experiencing a major outage on the day he sought to trade. This was...

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Liquid Exchange Hacked, Loses Nearly $100 Million

A crypto exchange known as Liquid – which is based in Japan – has been hacked, leaving it short of nearly $100 million in digital funds. Liquid Has Lost a Lot of Money The hackers involved in the incident have allegedly taken as much as $97 million in digital currency at the time of writing. Several assets – including bitcoin, Ethereum and Litecoin – have been stolen. Liquid has reported that the hacker is allegedly transferring this money to as many as four separate...

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Will FTX.US Soon Allow Spot Trading?

Brett Harrison – the president of FTX.US, an affiliate of FTX – says that his exchange is looking to offer crypto derivative trading within 12 months. FTX.US Sees Spot Trading in Its Future FTX has become the world’s second largest cryptocurrency exchange after Binance. FTX.US, which is based in California, presently has limited options available to crypto traders when compared with its parent, as at the time of writing, the firm can only provide spot in compliance with...

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Unocoin Wallet Holders Can Now Purchase Goods with BTC

Unocoin – a cryptocurrency exchange and wallet service in India – is allowing users to purchase goods and services through their wallets using bitcoin. Unocoin Users Push BTC Closer to Its Ultimate Goal The process is working a little differently than if one were to simply pay with cash. Rather than utilizing bitcoin directly to purchase everyday items, customers can instead utilize bitcoin to purchase vouchers, which can then be used for whatever products the...

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Coinbase Purchases Crypto Startup Zabo, Bringing Its Acquisition Total to 15 Firms

Coinbase – one of the world’s largest and most popular cryptocurrency exchanges – has acquired a Dallas, Texas-based crypto startup known as Zabo. Coinbase Gets Its Hands On Zabo Zabo is a relatively new firm, with its seed funding round occurring just last year in 2020. At that time, the company managed to raise more than $2.5 million thanks to the leadership of financial enterprises like Austin’s Moonshots Capital. It was one of the firm’s first blockchain-based...

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Brian Brooks Discusses How He Got Into Crypto

Brian Brooks is currently the CEO of Binance.US, but prior to that, he served in government and in the standard financial space. Brian Brooks Has Carved Out a Serious Crypto Career Before his position with the exchange, Brooks was the acting comptroller of the Currency at the U.S. Office of the Comptroller of the Currency (OCC). He has also worked with Coinbase. In a recent interview, Brooks discussed what it was that drew him to the crypto market. He says: For me,...

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Kraken Exchange Donates $300K to University of Wyoming

Kraken – a popular cryptocurrency exchange based in San Francisco, CA – has partnered with the University of Wyoming to ensure all future tech students get the resources they need for positions in the growing crypto space. Kraken and Wyoming Continue Their Working Relationship Kraken says it will offer scholarship support to students pursuing PhDs at the university. It will also work with college professors to create programs for students in the K through 12 range that...

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Binance Limits Exchange Activity for Unverified Users

Leading digital currency exchange Binance – arguably the biggest cryptocurrency trading platform in the world – is taking heavy action against unverified users. Binance Moves Towards Limiting Unverified Customers In a series of tweets, Changpeng Zhao – the company’s CEO – announced that Binance would be limiting how much money customers can remove or withdraw from their accounts daily, granted they have not gone through the verification process with the exchange. Zhao...

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Crypto Firm Fire Blocks Garners More than $300 Million in New Funds

Digital currency provider Fire Blocks – a startup based in New York – has managed to raise more than $300 million in new funds, thereby bringing its overall valuation beyond the $2 billion mark in just under half a year. Fire Blocks Gets Its Hands On a Lot of Money Fire Blocks came about three years ago in 2018. Just last February, the company managed to secure approximately $133 million for itself through a Series C funding round. During that period, the company’s...

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South Korea Rejects Foreign Crypto Exchanges from Its Turf

South Korea is cracking down on cryptocurrency exchange activity within its borders. South Korea Is Taking a Stance South Korea, at one time, accounted for more than one quarter of the world’s bitcoin and crypto transactions, though it appears the country’s presence within the digital currency space has died down a bit over the last three years. Nevertheless, the nation is still looking to purge all foreign digital currency exchanges from its terrain as a means of ending...

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