Brazilian Crypto Exchange XDEX Announces Full Closure

Brazilian crypto exchange XDEX, which is owned by the largest stock broker in Latin America, announced the end of its activities. The company announced its closure on March 31: “Today, we announce that XDEX is starting the process of closing its activities. Market projection, competition and few regulatory advances reduced the opportunities found at the beginning of the project and were the basis for this difficult decision.” Take some time The company offered non-custodial exposure to cryptocurrencies, so customers have up to 30 days from the day of the announcement…

Lowest Exchange BTC Balances Since 2019 — Calm Waters Ahead?

Bitcoin (BTC) balances of the major exchanges are at their lowest point since 2019. Calm waters ahead? From a high in mid-January, the number of Bitcoins on deposit at major exchanges has dropped significantly in following months. This trend accelerated after the recent market collapse. Source: Glassnode Further supporting this trend is the “exchange net inflow” data, which is derived by subtracting Bitcoins leaving exchanges from Bitcoin moving into exchanges. The net inflows have been negative for much of 2019 with a short positive spike around the most recent meltdown.…

Binance to Launch Crypto Exchange Supporting KRW-Backed Stablecoin

Crypto exchange Binance is preparing to enter the Korean market for the first time. According to a company blog post on March 31, the Malta-based exchange will soon open Binance KR for trading. The crypto-to-crypto exchange is so named for South Korean traders.  Binance KR will be launched on Binance Cloud and offer the “market’s deepest spot trading liquidity, most robust matching engine, and most advanced state-of-the-art security, custody, and risk controls.” The exchange will also support Binance KRW (BKRW), a stablecoin backed by the South Korean Won (KRW). Users…

Singapore Crypto Exchange Eyes US Expansion After Registering With FinCEN

While global cryptocurrency firms increasingly come to Singapore to benefit from its crypto-friendly ecosystem, some local firms are also expanding their operations beyond local jurisdiction. Bitget, a Singapore-headquartered digital asset platform, has obtained regulatory approval from the United States Financial Crimes Enforcement Network (FinCEN), the primary regulator for money service businesses in the country. MSB license is part of Bitget’s strategy to be compliant in “as many regions as possible” According to public records, the FinCEN granted Bitget a Money Service Business License (MSB), authorizing the Singaporean company to act…

China’s Oldest Exchange OKCoin Readies for Move Into Japan

OKCoin, one of the oldest exchanges in China, is continuing its crypto exchange business expansion, announcing on March 30 that it has officially secured licensing in Japan. OKCoin has been anticipating this day Per its announcement, OKCoin Japan has completed its registration with the Kanto Local Finance Bureau. According to the firm, this makes OKCoin the first international exchange to obtain a cryptocurrency exchange license through the official application procedure in Japan. OKCoin Japan said that ever since its establishment in September in 2017, it has been preparing itself to…

Australian Securities Exchange Delays Switch to Blockchain Due to COVID-19

The Australian Securities Exchange (ASX) has once again delayed its transition to the blockchain, due in part to uncertainty around the impact of the global COVID-19 pandemic. In an announcement published on March 25, ASX said it was replanning its blockchain implementation timetable in light of the unfolding crisis, as well as because of issues that were under consideration prior to the outbreak. In June, the exchange will therefore seek user input to establish a new go-live date — which until now had been set for April 2021. Pandemic-driven volatility…

Crypto Exchange Bitfinex Unveils Anti-Manipulation Tool ‘Shimmer’

Cryptocurrency exchange Bitfinex deployed its proprietary market surveillance tool to combat market abuse on the platform called “Shimmer.” According to an announcement shared with Cointelegraph on March 24, Shimmer is meant to identify and investigate possible manipulative behaviours and suspicious trading on Bitfinex. The exchange expects that the integration of the tool with its matching engine will improve market integrity and visibility. Bitfinex’s team will be warned about suspicious trading Now, Bitfinex’s team will be alerted via email when potential improper trading activity is detected on any of the exchange’s…

Indian Crypto Exchange CoinDCX Raises $3 Million in Series A Round

A recent funding round has just added quite a bit to an Indian crypto exchange’s coffers. Mumbai-based exchange CoinCDX announced on March 24 it had received $3 million in new funding. The Series A round was led by Bain Capital Ventures, Polychain, and HDR Group.  CEO and Co-founder of CoinDCX, Sumit Gupta, said that the funding would provide the means for the exchange to further the mass adoption of crypto in India:  “As the country’s largest exchange, we are in a position to drive national crypto adoption forward responsibly. This…

Hive Trades for 20% Premium Over Steem on Bittrex Crypto Exchange

After successfully forking from the Steem blockchain, Hive (HIVE) secured a listing on Bittrex — where it is trading for a 20% premium over Steem (STEEM). In a blow to Justin Sun, the cryptocurrency market appears to have chosen which chain it believes to be more valuable after Hive forked off from Steem on March 20. HIVE trades for 20% premium over Steem On Bittrex, HIVE is currently trading for $0.193, while STEEM is changing hands for roughly $0.154 on the same platform. HIVE’s 24-volume on Bittrex of $28,500 equates…

Woman Arrested for Stealing $480,000 From Crypto Exchange She Co-Founded

A woman was arrested in Bengaluru, India on March 17 for allegedly stealing 63.5 Bitcoins (BTC) from Bitcipher Labs — a cryptocurrency exchange that she had previously co-founded.  The thefts took place on January 11 and March 11 respectively, resulting in $480,000 worth of BTC being stolen from Bitcipher.  Bitcipher co-founder steals $480,000 in BTC Ayushi Jain, the 26-year-old former-employee, was found to have stolen 63.5 BTC from hardware wallets owned by the exchange. Indian police acted in response to a complaint filed by Bitcipher Labs’ CEO, Ashish Singhal, who…