Crypto exchange FTX US closes $400M funding round to reach $8B valuation

Chicago-based crypto exchange FTX US has reached an $8 billion valuation following new funding. According to Reuters on Wednesday, the American affiliate of FTX closed a $400 million funding round led by SoftBank Group Corp, Temasek Holdings, Paradigm and Multicoin Capital. FTX US president Brett Harrison said that this development puts their firm as one of the largest crypto exchanges in the United States, and sends a message to the world that they are growing very rapidly. Harrison indicated that the firm will use the funds to further its offerings as…

‘Stop panic selling’ — Bitcoin whales bag spare BTC as exchange balances fall

Bitcoin (BTC) is being aggressively bought up at prices near $30,000 as bidders begin to soak up liquidity from short-term sellers. Data from on-chain monitoring resource CryptoQuant shows that as of late December, Bitcoin exchanges have begun to shed their BTC reserves once more. BTC conspicuously attractive at current levels After a period of traders sending BTC to exchanges, possibly to sell or to have on the side to divest away from further losses, exchanges are now seeing larger overall outflows than inflows. Between Dec. 7 and Dec. 28, 2021,…

Cardano-Based Decentralized Exchange 'SundaeSwap' Off to Rocky Start

SundaeSwap, the first decentralized cryptocurrency exchange on the Cardano blockchain, went live this week, but users have complained that transactions are failing and they aren’t receiving their swapped tokens. Similar to Uniswap’s UNI token, which powers the automated liquidity provider, SundaeSwap has its own token, SUNDAE, but the data websites CoinMarketCap and CoinGecko don’t have any pricing information. SundaeSwap announced Thursday on Twitter that “swapping is now live” on the decentralized exchange, or DEX. Since then, users have complained on Twitter, Discord and Telegram that they have not received their…

Animoca Brands Leads $6.5M Round for Decentralized Exchange SOMA Finance

SOMA Finance, a decentralized exchange for trading digital assets and compliant digital securities, has completed a $6.5 million seed round led by blockchain gaming and open metaverse company Animoca Brands. SOMA aims to be a fully compliant decentralized exchange (DEX) and product suite for institutions and retail investors. Proposed services include built-in Know Your Customer (KYC) and anti-money laundering (AML), digital asset trading and permissionless regulated automated market making (AMM). The company was founded as a joint venture between Hong-Kong based decentralized finance (DeFi) platform MANTRA DAO and New York-based…

Cosmos Exchange Osmosis Expands to Ethereum Assets With Gravity Bridge

Per Aggarwal, the Althea team has been working on the Gravity Bridge for a number of years, and boasts a sophisticated slashing system for validators that underperform. Additionally, Osmosis is an app-specific chain, meaning that Osmosis Labs could take drastic steps to improve user experience, including allowing for Metamask signatures, which usually isn’t compatible with Cosmos. Author: Andrew Thurman Source link

OKEx lists BABYDOGE — the first major exchange to list the popular meme token | Press Room| OKX Academy

Seychelles, Aug. 10, 2021 — OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce the listing of Baby Doge Coin’s native asset, BABYDOGE — a new token created by fans of the widely popular Dogecoin, which pioneered the meme token trend when it reached new heights a few months ago. Deposits for BABYDOGE are currently open and are solely available via OKExChain. Spot trading for BABYDOGE/USDT will open at 10:00 am UTC on Aug. 10. BABYDOGE is yet another example of a creation driven by the…

National Bank of Egypt and LuLu International Exchange Connect Through RippleNet to Elevate Remittance Experience into Egypt

Today, we’re excited to announce our partnership with the National Bank of Egypt (NBE), the North African country’s largest bank. Through Ripple’s global payments network RippleNet, NBE has connected with the UAE-based financial service provider LuLu International Exchange – part of the LuLu Financial Group – to process cross-border payments from the United Arab Emirates (UAE) to Egypt. With a large diaspora employed abroad in the Gulf states – including the UAE – Egypt received $24 billion in remittances in 2020 alone, making it one of the top five remittance…

Decentralized Exchange Bancor Officially Launches Upgraded V2 Platform

The Bancor project has launched a heavily upgraded version of its decentralized exchange, promising to solve what it calls “DeFi’s dirty little secret.” According to a blog post released on Friday, the contracts have been deployed to mainnet in a beta launch mode. Each pool will have its liquidity capped to $1 million until a “pool manager” permanently removes the limitation when it is confirmed safe. As Cointelegraph previously reported, the exchange mitigates the issue of impermanent loss, where liquidity providers could lose some of their money as prices for…

Diginex’s Equos Set To Become First Crypto Exchange Listed in US

Blockchain-powered financial services company Diginex launched its new Equos digital asset exchange on July 30. The exchange will initially host crypto asset spot trading, with plans for “perpetual swaps, dated futures, options, and other derivatives products” to soon follow. The platform will support USD and the USD Coin (USDC) stablecoin at launch.  The spot exchange is licensed under an exemption to the Singapore Payment Services Act, with Diginex having also applied to become a ‘Major Payment Institution’ with the country’s regulator. The platform will also facilitate interoperability with Diginex’s hot…