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Bitrue CSO On How Crypto Exchanges Are Faring Post-FTX Collapse

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The collapse of FTX sent shockwaves throughout the crypto space, triggering the downfall of some crypto firms and prices crashed along with it. However, the market is picking up once more and confidence is returning.

Bitcoinist caught up with Bitrue’s Chief Strategy Officer, Robert Quartly-Janeiro and he shared his thoughts on how crypto exchanges have been faring in the wake of the FTX decline, and how Bitrue is working to regain user trust after this.

Bitcoinist: Can you tell us your thoughts on the whole FTX debacle? Do you think this was preventable?  Read more...

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SEC Chair Issues Dire Warning For Crypto Exchanges

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Gary Gensler, chairman of the U.S. Securities and Exchange Commission (SEC), continues to crack down on the crypto industry. In an investor advisory committee, the SEC Chair declared that lending platforms and crypto exchanges operate “investment advisers can’t rely on them as qualified custodians.” Gensler added:

Just because a crypto trading platform claims to be a qualified custodian doesn’t mean that it is. When these platforms fail- something we’ve seen time and again — investors’ assets often have become property of the failed company, leaving investors in line at the bankruptcy court.  Read more...

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2 Of World’s Biggest Crypto Exchanges Reportedly Allowed Sanctioned Russians To Transact

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According to a research by blockchain analytics firm Inca Digital, popular crypto exchanges Huobi and KuCoin have been criticized for not adhering with sanctions placed on Russia as a result of its invasion of Ukraine.

Inca Digital revealed that the two top exchanges did not take measures to prevent sanctioned Russian banks from using their respective peer-to-peer networks, the Politico reported.

Inca Digital CEO Adam Zarazinski stated during an interview that these transactions frequently use Tether, a stablecoin that has come under its own inquiry from regulators, and that this may be a breach of US and European restrictions.  Read more...

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Best peer-to-peer decentralized exchanges

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The Best Bitcoin Peer-to-Peer (P2P) Exchanges of 2023: A Comprehensive GuideDescription: This comprehensive guide covers everything you need to know about why P2P exchanges are important and highlights the top platforms for buying and selling Bitcoin.

Introduction

Peer-to-peer (P2P), decentralized (DEX) exchanges are a growing method of trading bitcoin without the need for a middleman to facilitate the transaction.

An escrow service usually safeguards the transaction, ensuring that neither the buyer’s nor the seller’s assets are at risk. An escrow is a service agreement that holds the assets or money of two parties. In the case of blockchains, an escrow is a smart contract that releases the money once a predetermined condition is met.  Read more...

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Mainstream Bitcoin Exchanges Have Obscured The Value Of Private, P2P Alternatives

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Mainstream bitcoin exchanges which collect troves of user data have warped users’ expectations for privacy-preserving, peer-to-peer versions.

This is an opinion editorial by Okada, mechanical engineer and contributor to peer-to-peer bitcoin exchange RoboSats.

Buying your first bitcoin has dramatically changed since the early days of trading on forums or Internet Relay Chat (IRC). Large exchanges sprung up and nowadays, they’ve perfected the art of attracting newbies through demystifying the buying experience with seamless and, quite frankly, mindless user interfaces.  Read more...

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Congress’ FTX Problem: 1 in 3 Members Got Cash From Crypto Exchange’s Bosses

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More than one in three of the 535 senators and representatives in the U.S. Congress showed up to the new session with FTX baggage, having received campaign support from former CEO Sam Bankman-Fried or one of the senior executives of the fraud-ridden crypto giant.
CoinDesk

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Hong Kong Stock Exchange’s First Bitcoin Futures ETF Receives $53 Million Initial Investment

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The futures ETF will be the first of its kind available in Asia according to the asset manager, CSOP.

Investors in the Hong Kong Stock Exchange will be able to trade the CSOP Bitcoin Futures ETF (3066.HK) starting December 16 according to a press release. The ETF will track the Chicago Mercantile Exchange’s Bitcoin ETFs through active investment. It has received approximately $ 53 million in initial investments at a listing price of $ 1 (HKD 7.75).  Read more...

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Binance CEO Suggests t Principles For Centralized Exchanges To Prevent FTX Fiasco

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Irrespective of the analytical lens you choose, you might feel that the recent FTX debacle’s impact is heavier than other unfortunate past incidents, especially because it happened when the market was going through a bearish time.

Even though it has a smaller financial impact than those of the Mt.Gox exchange, the DAO hack, and the implosion of Terra, which fell into ruins in the industry’s history. The way how FTX misused its users’ funds and lied when provoked could lead to an uncomfortable effect on investors who are already cautious because of their security and stability concerns.   Read more...

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How The FTX Collapse Spiked Fees On Popular Bitcoin Exchanges

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The collapse of an industry titan exposes how various bitcoin brokerages could experience massive differences in the cost of bitcoin.

This is an opinion editorial by Michael Chapiro, a materials engineer, an aerospace and defense executive and founder of Caliber.
  Read more...

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Santander UK Bank Puts Monthly Limit On Transactions To Crypto Exchanges

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Santander UK has put a per transaction limit as well as a total monthly restriction on the amount that users can transfer to crypto exchanges.

Santander UK Bank Says Investing In Crypto Can Be High Risk

The United Kingdom branch of the banking giant Banco Santander yesterday posted a notification for its customers, where it alerted users that investing in crypto assets can be high risk.

“In recent months we’ve seen a large increase in UK customers become victims of cryptocurrency fraud,” notes the bank.  Read more...

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Despite Downtrend, Bitcoin Continues To Flow Out Of Exchanges

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Data shows exchanges have observed large amounts of Bitcoin leaving exchanges in the year 2022 so far, despite the downtrend the crypto has experienced.

Bitcoin All Exchanges Netflow Has Been Negative During Recent Months

As per the latest weekly report from Arcane Research, BTC saw the highest outflows in June since the November of last year.

The “exchange netflow” is an indicator that measures the net amount of Bitcoin moving into or flowing out of wallets of all exchanges. The metric’s value is simply calculated by taking the difference between the inflows and the outflows.  Read more...

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These 16 Crypto Exchanges Have Been Flagged By South Korean Financial Regulator

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The Korea Financial Intelligence Unit (KoFIU) has decided to pursue some crypto firms that lack proper regulatory approval.

A total of 16 firms have been in the regulator’s radar as they have not aligned with the regulatory approval.

These firms had advertised crypto and and had offered the services to the Koreans without having appropriate requisite registration.

Financial Services Commission is now planning to halt domestic access to foreign exchanges which are precisely not registered with the country.

At the current moment, the crypto exchanges have been given time to obtain their licenses.  Read more...

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Crypto Exchanges Under Probe In India For $125 Million Laundering Scheme

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India’s financial crime-busting agency is now zooming its lens on more than 10 cryptocurrency exchanges in the country for what it believes is illegally moving more than 10 billion rupees ($ 125 million) offshore.

The Economic Times reported, citing unnamed sources, that the yet to be named crypto exchanges were used by several companies as some sort of conduits.

Now, these crypto exchanges are accused of money laundering to make purchases that were then sent to other international wallets, mostly linked to mainland China.  Read more...

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Why and How To Withdraw Your Bitcoin From Exchanges

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Why should I withdraw my bitcoin from an exchange?

If you have to ask permission to use what’s yours, it’s not truly yours. Have you ever heard the phrase “Not your keys, not your coins”? It’s true. If you do not withdraw, and hold your bitcoin private keys, you are not in control of your own money. Leaving your bitcoin on your exchange account means that you are placing a significant amount of trust in a third party exchange.  Read more...

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Now That Bitcoin Is Considered Property In The UK, Reclaiming Ransomed Assets Sent To Exchanges Is Much Easier

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While bitcoin itself is difficult to confiscate or censor, U.K. courts have labeled bitcoin as property which aids in recovery when scammers try to cash out.

This is an opinion editorial by Matthew Green and Brian Mondoh, contributors for Bitcoin Magazine.

With all the available cryptocurrencies, including anonymity-designed bytecoin, monero and zcash, ransomware attackers continue to demand bitcoin and some reports show darknet markets are fuelled by bitcoin transactions (see pages 54 and 109 of the Chainalysis 2022 Crypto Crime Report). Seemingly, bitcoin remains one of the most valuable assets for criminals utilizing blockchain technology given its relative stability, price and relevance.  Read more...

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Bitcoin Saw Largest Ever Monthly Withdrawal From Exchanges In June

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Data shows Bitcoin saw the largest monthly outflow from exchanges in history this June as 151k BTC flew off centralized wallets.

Bitcoin Netflow Shows 151k BTC Exited Exchanges In June

As per the latest weekly report from Glassnode, BTC observed in June the largest ever monthly outflow from exchanges.

The “exchange net position change” is an indicator that measures the net amount of Bitcoin entering or exiting wallets of all centralized exchanges.

The metric’s value is simply calculated by subtracting the total outflows from the total inflows. So, when the value of the indicator is positive, it means there are more inflows right now.  Read more...

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Crypto Volume On Indian Exchanges Drops By More Than 70% After 1% TDS Rule

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Trading volume on crypto exchanges in India has taken a large hit of more than 70% since the start of the 1% TDS rule.

Crypto Trading Volumes On WazirX, ZebPay, And CoinDCX Decline 70% Or More

As reported by The Economic Times, following the start of the 1% TDS rule, exchange trading volumes in India have plunged down.

TDS here stands for “tax deducted at source.” The 1% TDS rule that went live on the 1st of July requires the sender of any type of crypto transaction in India, to pay 1% of the total amount as tax.  Read more...

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BiKi.com Compares Favorably Against Top Exchanges Binance, OKEx and Huobi

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15th July, Singapore, Singapore – The numbers are in and fast-growing exchange BiKi.com is proving it is no flash in the pan. According to official reports, BiKi.com’s revenue figures in the second quarter exceeded USD 15 million, which is a 500% increase when compared to figures from the first quarter. This works out to one-eighth […]

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High Performance Is Paramount in Next-Generation Professional-Grade Exchanges

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With 2019 being referred to as a landmark year for institutional investment in digital assets, trading performance is a high priority. Current exchanges being developed to accommodate such investors are focused on delivering a frictionless and intuitive experience, covering everything from trading technology to user experience. Let’s recap the essentials of performance and what we […]

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