The world’s biggest cryptocurrency exchange Binance has started a crypto lending program with teaser rates of between 7% to 15%. The teaser rates are for BNB (Binance exchange’s token), Tether, and Ethereum Classic, and they are valid for a limited 14-day period. In crypto-lending, users lend their idle cryptocurrency to exchanges or service providers for… Read More Binance Starts Crypto Lending Program
In a first, a cryptocurrency exchange is planning to raise money from the markets using an initial public offering (IPO). The INX Exchange has filed a prospectus with the SEC to raise $130 million through an IPO. The IPO is significant because it will be the first security token registered with the SEC. Cryptocurrency startups… Read More INX, A Crypto Exchange, Plans To Conduct An IPO
Barclays has stopped providing banking services to Coinbase. The reasons for ending of the relationship between one of Britain’s premier banks and North America’s largest cryptocurrency exchange are unclear. However, a Coindesk report states that Barclays developed “cold feet” over the risk involved in associating with cryptocurrencies. The same report also quotes another source as… Read More Barclays Ends Relationship with Coinbase; ClearBank Steps In
Abu Dhabi’s sovereign wealth fund Mubadala Investment Capital is dipping its toes in crypto waters with an investment in MidChains – a cryptocurrency exchange scheduled to launch later this year. The deal is Mubadala’s first investment in a cryptocurrency startup and comes in the middle of “challenging market conditions” for the firm. MidChains plans to… Read More Abu Dhabi Sovereign Fund Invests In New Crypto Exchange For The Middle East
Fake it until you make it is a popular strategy among tech entrepreneurs. Application and software developers often brag about “tens of thousands” of users on their platform without independent verification from third parties. Within the cryptocurrency ecosystem, faking has taken on the form of trading volumes. Cryptocurrency exchanges regularly report trading volumes that run… Read More Research Firm Provides More Proof of Fake Trading Volume At Crypto Exchanges
Binance, the world’s biggest cryptocurrency exchange by trading volume, is planning to expand operations in the United States, according to a Coindesk report. While the exchange did not provide a firm timeline for the launch, it did reveal partnership with a San Francisco-based money services business called BAM Trading for the move. Coindesk found that… Read More Binance, the World’s Biggest Cryptocurrency Exchange, Is Coming to the United States
For all its frenetic growth in the last couple of years, the cryptocurrency ecosystem is still largely dominated by retail investors. This has resulted in thin liquidity volumes and high volatility. While the latter is an opportunity to make money, the crypto market’s sudden price swings have spooked investors. Most importantly, they have kept institutional… Read More Archax’s Plans To Become A Credible Crypto Counterparty For Institutional Investors
It is time to add another name to the list of cryptocurrency exchanges available in the market. Chicago-based Beaxy launched yesterday with 60,000 pre-registered users and 26 crypto trading pairs. Users in 43 U.S. states and 185 countries can trade on Beaxy. According to a press release, Beaxy has partnered with OneMarketData, a provider of… Read More Beaxy, A Crypto Exchange That Claims To Be Among The Fastest, Launches
For several years after bitcoin’s launch, Mt. Gox, a Japan-based exchange that crashed in 2014, was the only place where traders could exchange bitcoin. They have more choices now. The only requirement to create a cryptocurrency exchange is access to sufficient capital and a passable order book. Clay Collins, CEO of Nomics – a company… Read More The Problem With Crypto Data: A Conversation With Nomics CEO Clay Collins
San Francisco-based exchange Kraken is planning a private offering in a transaction that values the company at $4 billion. That figure is exactly half the current valuation of its competitor Coinbase. In a letter sent to investors, the company stated that it was profitable and “sitting on significant reserves”. The intention of fundraising during this… Read More Kraken Values Itself At $4 Billion And Is Raising Money For Acquisition “War Chest”
South Korea-based Bithumb has overtaken Binance to become the top cryptocurrency exchange by trading volume, according to the latest exchange review by Cryptocompare – a cryptocurrency prices and data site. Bithumb has average daily trading volume of $1.24 billion while Binance has approximately half of those figures. Chinese cryptocurrency exchange ZB took the third spot… Read More South Korean Crypto Exchange Bithumb Overtakes Binance In Cryptocompare Rankings
Decentralization may have become the guiding trope for crypto enthusiasts but Hugo Renaudin, founder of LGO Markets – a startup with a digital asset management platform, is less than impressed with the concept. “You cannot work in a fully decentralized way,” he says. As an example, he points to the settlement process for a trade.… Read More A Conversation With LGO Markets Founder Hugo Renaudin
Up until now, the increase in cryptocurrency trading volumes is said to be largely driven by retail investors. This has led to wild price swings and volatility. As institutional investors and hedge funds enter cryptocurrency markets, however, decentralized dark pools are expected to mop up a portion of the existing trading volume at cryptocurrency exchanges.… Read More Republic Protocol Launches RenEx – A Decentralized Dark Pool For Cryptocurrency Trading
Brokerage firm TD Ameritrade has invested in ErisX, a new cryptocurrency platform for spot trading and derivatives products. ErisX is led by Citigroup trading veteran Thomas Chippas. The company’s first product, which is a spot trading exchange, will be released next year. The company will offer bitcoin, bitcoin cash, ethereum, and litecoin to the investing… Read More TD Ameritrade Invests In ErisX, A New Crypto Exchange
When the going gets tough, the tough charge more. Or so it would seem from a recent Bloomberg article about cryptocurrency exchanges, which have resorted to unconventional tactics to shore up trading volumes and fees. The story lists three business tactics being used by exchanges to make up for decline in revenues. Here’s a short… Read More Cryptocurrency Exchanges Are Adopting New Tactics To Make Money
A cryptocurrency custody solution cannot come soon enough for cryptocurrency markets. According to a report from CipherTrace, a startup that develops forensic tools for blockchain, cryptocurrency, and financial services, cryptocurrency exchanges are on track to lose as much as $1.5 billion worth of coins to money laundering and theft this year. For context, that’s three… Read More Thefts At Crypto Exchanges Have Tripled In Value; Crypto Money Laundering Also On The Rise
North America’s largest cryptocurrency exchange Coinbase recently announced that the opening of an office in Japan. Nao Kitazawa, a veteran of Japan’s financial services industry, will lead operations for the cryptocurrency exchange in Japan. Why Japan Is Attractive To Coinbase The choice of Japan for Coinbase, which already operates in 32 countries (including one in… Read More Why Did Coinbase Enter Japan?