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Singapore’s DBS Bank Expands Its Crypto Trading Service For 100K Customers

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As per Friday’s announcement through Bloomberg, Singapore state-owned DBS Bank has expanded its crypto trading service to more its 100,000 investors linked with its DBS Treasures section. The DBS’ clients will trade virtual currencies through its member-only decentralized exchange, DDEx. The service initially allows customers to trade four top cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), BitcoinCash (BCH), and Ripple (XRP).

Despite the current negative market climate and U.S. regulators’ tightening policies, cryptocurrency continues to gain more and more ground in adoption. The benefits and use cases of decentralized technology have been attracting the government and private sectors globally and pushed them to include digital currencies in their systems. Likewise, Singapore’s leading financing bank, established in 1968, remains second to none.  Read more...

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Singapore’s Largest Bank Expands Bitcoin, Crypto Trading To 100,000 More Clients

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Following the release of Singapore’s digital asset framework, the country’s largest bank expanded its members-only digital exchange to 100,000 more clients.

  • DBS Group Holdings expands bitcoin and crypto trading to 100,000 of its wealthiest clients.
  • The bank requires capital requirements and a minimum investment of $ 500.
  • The expansion follows the central bank of Singapore’s release of a digital asset framework from earlier this month.

DBS Group Holdings Ltd., Singapore’s largest bank, expanded its bitcoin and cryptocurrency trading services on its members-only exchange to an additional 100,000 of its wealthiest clients, per a report from Bloomberg.  Read more...

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Crypto Trading Firm Wintermute Has Suffered $160 Million Hack

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Crypto trading platform Wintermute has just lost $ 160 million in a hack which concerns its decentralised finance (DeFi) operation.

This news was confirmed through a tweet from the company’s founder and CEO, Evgeny Gaevoy.

This makes Wintermute the latest firm within the industry to have suffered a hack. A series of tweets by Gaevoy has revealed that the prominent trading firm’s decentralised financial operations have been breached.

He also clarified that the centralised finance and over-the-counter verticals had not been compromised in the hack.  Read more...

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Ether y bitcoin se debilitan mientras empresas de trading culpan a la falta de catalizadores alcistas por el desplome del mercado

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Los depósitos de ETH en los exchanges todavía deben retroceder, según un observador. Inversores comenzaron a mover las criptomonedas a los exchanges antes de la fusión de Ethereum del jueves.
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Ex-Coinbase Manager’s Brother Pleads Guilty To Insider Trading Charge

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Insider trading charges have started to hit the crypto markets. Easily the biggest story yet in this topic came in recent months, with the indictment of former OpenSea head of product, Nate Chastain. The gavel is impending once more this week, as the brother of an ex-Coinbase manager has pled guilty to a wire fraud conspiracy charge.

Let’s take a look at the events that led to today’s guilty plea, and reasonable expectations moving forward.

When The Hammer Drops: Insider Trading Charges  Read more...

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Bitcoin Trading Volume Excluding Binance Remains At Yearly Lows

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Data shows the Bitcoin trading volume on exchanges other than Binance has recently been near the yearly lows reached in April.

Bitcoin Spot Trading Volume Is Much Lesser When Excluding Binance

According to the latest weekly report from Arcane Research, while the daily total spot volume averaged to $ 8 billion during the last week, this value is inflated because of Binance.

The “daily trading volume” is an indicator that measures the total amount of Bitcoin that was transacted on the spot markets on any given day.  Read more...

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Saddle Finance Redefines Trading of Pegged Value Assets with Ease And Security

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Are you ready to Saddle up?

A decentralized finance platform architectured to facilitate efficient trade between pegged crypto assets is now one of the most prominent names on the Ethereum blockchain.

Saddle Finance, an automated market maker (AMM), is developing solutions to eliminate roadblocks related to the spread between stablecoins and tokenized crypto assets.

In the crosshairs of Saddle’s team of engineers and software developers is a path that distinguishes the company from its competitors and offers users distinctive and unparalleled value.  Read more...

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Brazil’s Largest Broker XP Just Launched Bitcoin Trading Services

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The broker has 3.6 million users and its new trading platform developed in partnership with the Nasdaq can scale to support one million users for bitcoin trading.

  • The largest broker in Brazil has launched bitcoin trading services for its clients.
  • XP has over 3.6 million users.
  • The company has a goal of 200,00 users by year end with a scalable capacity of one million users.

XP Inc., Brazil’s largest broker when measured by market value, has officially launched bitcoin trading services enabling its 3.6 million users to buy, sell and hold bitcoin, per a report from Brazilian publication ISTOE.  Read more...

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This Brazilian Fintech Is Bringing Crypto Trading To 30 million People

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Crypto services are spreading worldwide. Most of the growth in this regard has been mostly in the West, but more countries and companies are beginning to follow suit. The latest of this is a Brazilian fintech that is starting to offer crypto services in the country. Picpay’s latest innovation that features the space is seeing it bring crypto trading to millions of users in Brazil.

Picpay Unveils New Crypto Offering  Read more...

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Crypto Rout On Trading Volumes Costs Coinbase $1.1 Billion In Losses

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Crypto exchange Coinbase disclosed a $ 1.1 billion loss on revenue of $ 803 million in the second quarter, a bigger-than-anticipated loss as investors apprehensive about this year’s volatility in assets avoided trading in cryptocurrencies.

Both numbers fell short of analysts’ forecasts and are below what the company reported in the first three months of the year.

This is the second consecutive quarter that Coinbase has declared a deficit, and the biggest loss since the crypto exchange launched on the Nasdaq in April of this year.  Read more...

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Revolut Introduces Crypto Trading In Singapore Despite Chances Of New Restrictions

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Revolut has launched a cryptocurrency service in Singapore. Many firms have depicted unwavering belief in the market despite the downturn.

Singapore recently has been lacking clarity in terms of the restrictions that are supposed to be imposed in the crypto industry.

Some companies have been severely affected during the bloodbath, however, some have continued to move forward with their expansion plans.

Recently, BlackRock, the investment management company collaborated with Coinbase to extend cryptocurrency access to its clients.

In the similar vein, Revolut has unveiled its crypto service in Singapore. Along with this, Revolut also plans to increase their headcount by 20%.  Read more...

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Bitcoin Trading Volume Remains Close To 1-Year Highs

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Data shows the Bitcoin trading volume has remained near one-year highs recently as activity on Binance stays elevated following the fee removal.

Bitcoin 7-Day Average Trading Volume Has Kept At High Values In Recent Weeks

As per the latest weekly report from Arcane Research, around 80% of the latest activity on the BTC network is driven by the crypto exchange Binance.

The “trading volume” is an indicator that measures the total amount of Bitcoin moved on the blockchain on any given day.  Read more...

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Faced With The Scourge Of Hacks, NFT Trading Volume Slump To 12-Month Lows

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There was a huge surge in interest in NFTs throughout the summer of 2021. After a year, the NFT market’s trading volume has plummeted.

Due to the lowest trading volumes in a year and the growing epidemic of NFT hacks, interest in NFTs has decreased along with the overall cryptocurrency market.

NFT Suffers Setback

The non-fungible token market is finding it difficult to sustain the exponential growth it saw during the 2021 bull market. Trading volumes have dropped precipitously recently and are already at their lowest levels since July 2021, according to data from prominent NFT trading sites like OpenSea.  Read more...

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Justice Department Arrests Former Coinbase Manager For Insider Trading

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The former Coinbase employee and his brother have been arrested for insider trading at least 25 cryptocurrencies, but another defendant is still at large.

  • The Justice Department has arrested a former Coinbase employee in the first case of cryptocurrency insider trading.
  • The employee, a former product manager, allegedly used his knowledge of asset listings to engage in multiple counts of insider trading.
  • Previously, the Justice Department charged a former employee of Open Sea for insider trading NFTs.

Ishan Wahi, a former product manager for the publicly-traded cryptocurrency exchange Coinbase, was arrested this morning for an insider trading scheme during his time with Coinbase, per a release from the Department of Justice.  Read more...

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Chicago Based Brokerage Firm M1 Finance To Render Crypto Trading Services

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The bear market has left a sour taste for crypto investors, and most are worrying about the current trend in the market. Many firms are also fighting to sustain operations amid issues of insolvency, liquidity shortage, and compulsory workforce downsizing.

But even with all these issues, innovations and developments keep emerging, proving that the industry is not dead. One recent notable development is the plan to create accounts and trading services by M1 Finance.

The online brokerage company plans to expand its operations by including these two services. According to the team, the launch will likely occur in some weeks. M1 Finance has been operating since 2015, and according to them, the firm now has above $ 5 billion AUM (assets under management).  Read more...

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Fifth Largest Swiss Bank To Enable Bitcoin Trading For Over 2 Million Customers

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The banking arm of the Swiss post office and fifth largest Swiss retail bank is set to launch bitcoin trading and custody services by 2024.

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  • The fifth largest retail bank in Switzerland will allow its over two million customers to buy, sell and hold bitcoin by 2024.
  • PostFinance is not only a leading Swiss retail bank, but is also the banking arm of Switzerland’s post office.
  • The bank already partners with Swissquote for cryptocurrency services, but looks to be creating an independent platform.
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