Cryptocurrency Exchanges

Unlike the 2008 crash, the government won’t be bailing out FTX’s investors, writes Nick Saponaro of Divi Labs. Will regulators see this as a cue to crack down on exchanges?

The chief executive of Crypto.com, said the exchange’s exposure to FTX when it shut was under US$10 million.

Changpeng Zhao, founder and chief executive of Binance, tells the B20 Summit in Indonesia that the world’s largest cryptocurrency exchange aims to help improve business and operation standards in the crypto industry.

Changpeng Zhao, founder of the world’s largest crypto exchange, said its earlier pledge to acquire FTX fell through partially due to regulatory concerns.

The following is a running compilation of views and comments on the possible short- and long-term outcomes of FTX’s liquidity crunch.

There are not many white knight investors that are large enough to bail out the embattled crypto exchange, industry insiders say.

Over 5.2 billion stablecoins left crypto exchanges on Wednesday, the most in five months, on-chain data showed.

The FTX.com unraveling has prompted crypto industry leaders to demand clearer rules of the road for trading digital assets.

Binance may have nixed the deal to bailout rival exchange FTX.com, but it could still gain a big chunk of FTX’s business as investors flee the platform.

Binance may scrap its proposal to acquire cryptocurrency exchange FTX, after examining FTX’s “internal data and loan commitments,” according to an unnamed source “familiar with the matter” cited by CoinDesk on Wednesday. 

The sudden downfall of top cryptocurrency exchange FTX will bring in more regulatory scrutiny and raise the difficulty of obtaining licenses around the world, Binance founder and chief executive Changpeng Zhao said in an internal note, which he shared with the public via Twitter on Wednesday. 

Binance, the world’s largest cryptocurrency exchange, has raised its emergency insurance fund “SAFU” to US$1 billion equivalent in cryptocurrencies, founder Changpeng Zhao said in a Tweet on Wednesday. 

Top blockchain and crypto news: FTX concedes defeat in long battle with Binance. Crypto eyes Congress races. Hong Kong U-turns on digital assets.

WazirX, India’s largest cryptocurrency exchange by trade volume, has introduced a profit and loss function for users to analyze and calculate their investments. 

KakaoBank, one of South Korea’s online-only banks with nearly 20 million users, said it will start providing accounts for users of Coinone exchange in November.

Cryptocurrency exchanges and Web 3.0 companies, including Coinbase and Polygon, have formed the Bharat Web3 Association in India to strengthen regulation and consumer protection for the industry.

The world’s largest crypto exchange seeks to become a bridge between traditional finance and cryptocurrencies.

Nasdaq’s Head of Asia Pacific and Japan, Ulf Carlsson, tells us how stock exchanges could learn from crypto exchange operations.

India’s Central Board of Indirect Taxes & Customs (CBIC), responsible for policy formulation and collection of indirect taxes like the goods and services tax (GST), has asked major cryptocurrency exchanges to provide details on the type of digital coins and tokens being traded and their valuation. 

Cryptocurrency exchanges in Singapore are shifting focus to heavy-hitter investors, such as family offices and financial institutions, in line with the central bank’s warnings about the risks in retail crypto trading.

The use of blockchain technology in finance will have an impact similar to that of YouTube on the media industry, said Lee Jun-haeng, CEO of South Korea-based blockchain company Streami.

When the Grim Reaper comes, will he take all your Bitcoins, too? Here’s how to ensure your crypto wealth will survive and live on for your heirs.

India has witnessed an increase in drug smuggling using cryptocurrencies and the darknet, according to the country’s Home Minister Amit Shah. 

Hong Kong-based crypto investment firm Q9 Capital has received a provisional virtual asset approval from Dubai’s Virtual Asset Regulatory Authority (VARA), the company said on Wednesday in a statement shared with Forkast.

Japan’s Virtual and Crypto assets Exchange Association (JVCEA), the self-regulatory body that oversees local crypto exchanges, will allow platforms to list cryptocurrencies without an existing lengthy screening process, according to Bloomberg. See related article: Japan pushes for tougher crypto AML regulations amid N. Korean cyberattacks Fast facts The easing is expected to take place as […]

The Commodity Futures Trading Commission and the Securities and Exchange Commission of the U.S. are investigating whether bankrupt crypto hedge fund Three Arrows Capital (3AC) misled investors about its balance sheet and failed to register with the two agencies, according to a Bloomberg report which cites two people familiar with the matter. See related article: […]

Crypto.com said on Wednesday that the exchange will invest €150 million (US$145.5 million) in France to set up a European headquarters in Paris and expand operations in the region. See related article: Crypto.com enters South Korea market with two local startup acquisitions Fast facts The Singapore-based exchange said it will focus on compliance, business development […]

Cryptocurrency exchange Blockchain.com has received in-principle approval from the Monetary Authority of Singapore (MAS) for a license to offer “digital payment token” services in the city-state.  See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts Blockchain.com is the second crypto exchange to earn the central bank’s in-principle approval […]

Top blockchain and crypto news: Binance puts brakes on BNB Chain theft. Will quantum computing kill crypto? Huobi sells up.

Coinbase, the largest cryptocurrency exchange in the U.S., has formed a strategic Web 3.0 partnership with Google Cloud, the Nasdaq-listed exchange said in a statement on Tuesday.  See related article: Coinbase gets nod from Dutch central bank to offer crypto services Fast facts As part of the partnership, Google Cloud will allow select customers to […]

Singapore-based Coinhako cryptocurrency exchange, one of a handful to have a full license to operate in the city-state, has launched “Coinhako Treasures” to offer more products that suit the needs of institutional clients, like corporates and family offices, as it seeks to grow its institutional user base.   See related article: How a market slump may […]

Cryptocurrency exchange WazirX will look to integrate India’s central bank digital currency (CBDC) “if all goes well,” vice president Rajagopal Menon told Forkast in a video interview on Monday.  See related article: RBI to begin CBDC pilots, outlines wholesale, retail concepts Fast facts “We would love to onboard the e-rupee and you can buy your […]

The Monetary Authority of Singapore (MAS) said illegal crypto-related businesses are operating in the city state and it is working with the police to identify and prosecute them. See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts In a reply to a Parliamentary question, Tharman Shanmugaratnam, senior minister […]

Financial services company Mastercard Inc. has launched Crypto Secure, a technology solution designed to help banks identify fraud-prone crypto exchanges, the company announced in a press release. See related article: Binance partners Mastercard to launch card in Argentina for bill payment, everyday purchases Fast facts The service uses artificial intelligence algorithms and blockchain data to […]

Binance, the world’s largest cryptocurrency exchange, has launched a local branch in New Zealand after becoming a registered financial service provider, Chief Executive Officer Changpeng Zhao announced on Friday. See related article: Binance taps ex-U.S. senator Max Baucus to chair global advisory board Fast facts “New Zealand is an exciting market with a strong history of […]

Who will regulate the regulators is a time-honored question and one Bitcoin enthusiasts raise when talking about the benefits of the token’s fixed supply versus the tendency of central banks to switch the money spigots off and on.

Japan is planning to introduce remittance rules to prevent money laundering through cryptocurrencies, Nikkei Asia reported Tuesday. See related article: China says it busted US$5.6B crypto money laundering ring Fast facts The Japanese authorities plan to revise “The Act on Prevention of Transfer of Criminal Proceeds” to require exchanges to provide user data when sending […]

Coinbase, one of the world’s largest cryptocurrency exchanges, has obtained regulatory approval in the Netherlands, as the U.S.-based exchange looks to expand its presence globally. See related article: Coinbase hit with lawsuit over allegedly poor security Fast facts Coinbase said on Thursday in a statement that it has registered with De Nederlandsche Bank, the central […]

Binance Labs, the incubator and investment arm of the world’s largest cryptocurrency exchange, said it invested an undisclosed amount in Salus Security, which provides blockchain smart contract audits and automated smart contract vulnerability detection. See related article: Binance’s US$7.5 billion woman sees plenty of promise in bear markets Fast facts Binance Labs said in a […]

Yi He, who manages the multibillion-dollar portfolio at Binance Labs, is looking to invest in Web 3.0 projects from infrastructure, application and data to analytics and security.

The Thailand Securities and Exchange Commission (SEC) has prohibited cryptocurrency companies from offering digital assets lending and staking products, or depository services.  See related article: Thailand’s SCBX scraps plan to buy 51% stake in crypto exchange Bitkub Fast facts The regulator said in a press release on Thursday that the decision was made to protect […]

Crypto exchanges in India say the number of female investors isn’t huge, but it is growing even as prices slide and new taxes eat into revenue.

EDX Markets Crypto Exchange, backed by Charles Schwab, Citadel Securities, Fidelity Digital Assets, Paradigm, Sequoia Capital and Virtu Financial, seeks to settle trades on the blockchain for greater speed and efficiency at lower cost, eliminating the need for bilateral settlements, according to a press release on Tuesday. See related article: FTX agrees to help South […]

The Monetary Authority of Singapore (MAS) said it is unable to determine the proportion of cryptocurrency holdings by the general public in the city-state as these include transactions with both Singapore-based as well as overseas service providers.   See related article: Singapore’s MAS says needs to do better job explaining crypto policy Fast facts “Data on […]

WazirX, India’s largest crypto exchange by volume, has begun to publish data-driven reports for over 200 coins listed on its exchange, with data from  crypto intelligence firms Crebaco and IntoTheBlock.  See related article: TZ APAC, NUS join for blockchain, computing education Fast facts Research reports by Crebaco published on WazirX aim to help readers understand […]

The Securities and Exchange Commission of Thailand (Thai SEC) has filed a police complaint against cryptocurrency exchange Zipmex and Akalarp Yimwilai, cofounder of the company and CEO of its Thai unit, for non-compliance. See related article: Thailand mandates warnings on crypto ads Fast facts In a statement, Thai SEC said it had ordered Zipmex to […]

Switzerland-based SEBA Bank, a global cryptocurrency lender, has introduced Ethereum staking services aimed at enabling clients to earn staking rewards on Ethereum. See related article: Ethereum’s Bellatrix upgrade now live despite concerns Fast facts Ethereum staking services would enable clients to earn rewards on a monthly basis, with adjustable lock-up periods available post-Merge, SEBA Bank […]

The Securities and Exchange Commission of Brazil (CVM) has banned Singapore-based cryptocurrency exchange Bybit from brokering “securities” within the country.   See related article: Thailand mandates warnings on crypto ads Fast facts The CVM released a declaratory act, in an announcement on Monday, that ordered the suspension of Bybit’s security offerings and intermediation services directly or […]

Singapore’s largest bank, DBS, aims to expand its cryptocurrency and digital assets offerings to 300,000 new clients in the face of the crypto bear market, according to a Financial Times report on Tuesday.  See related article: Why DBS’ move into the digital asset space is more than a token gesture Fast facts In an interview, […]

In facing a government hostile to cryptocurrency trading, Indian exchanges are trying to attract new business with suites of different investment products.

Indonesia will launch a crypto stock market by the end of this year, said the country’s deputy trade minister Jerry Sambuaga, according to a media report. See related article: Indonesia’s biggest tech firm buys local crypto exchange Fast facts The Southeast Asian nation had earlier announced a 2021 launch but revised it to the first […]

Singapore-headquartered crypto derivatives exchange Bybit is partnering with Circle, the issuer of stablecoin USD Coin (USDC), to offer USDC spot pairs. See related article: Bybit to cut up to 30% of its workforce Fast facts Bybit said on Thursday it will offer Circle’s services to its users by expanding its USDC spot pair listings to […]

Cryptocurrency advocates and exchanges in Asia say they are teaching the ins and outs of digital assets and blockchain in regional languages to help promote crypto investments and protect people against scams. See related article: Crypto is based on the greater fool theory: Philippines’ incoming central bank chief Fast facts Philippine crypto exchange Coins.ph, which […]

Indonesia’s biggest tech firm GoTo Gojek Tokopedia (GOTO) has forayed into the cryptocurrency market with the purchase of local crypto exchange Kripto Maksima Koin for US$8.38 million. See related article: Indonesia’s wholesale CBDC to be ready for bank use by year end: report Fast facts GoTo has acquired 100% of Kripto Maksima Koin shares for […]

Binance Australia is tightening its sign-up process for new users, as part of renewed efforts to protect users considered most vulnerable to scams and cyber attacks, according to a report by Binance Australia. See related article: Binance to suspend ETH deposits, withdrawals during “The Merge” Fast facts According to the report, the company’s research and […]

Crypto investors were blindsided when firms like Voyager suddenly froze their accounts. How can we improve digital asset protection in the future?

South Korea’s internet-only bank KakaoBank has signed a contract with local cryptocurrency exchange Coinone to provide withdrawal and deposit accounts to investors under their real names, per local regulations. See related article: South Korea’s crypto crackdown: What you need to know Fast facts While the partnership deal has been settled, it has not been announced […]

The New York-based crypto exchange said its staking service will allow customers to stake their cryptocurrencies and receive rewards within their Gemini account.  See related article: Gemini sued over US$36 mln Bitcoin and Ethereum hack Fast facts Gemini Staking will be available for users across the U.S. (excluding New York), Singapore, and Hong Kong, the […]

The Korea Financial Intelligence Unit (KoFIU) has requested investigative authorities to block 16 unregistered foreign-based Virtual Asset Service Providers (VASPs) that reportedly targeted domestic consumers by offering services in Korean. See related article: South Korea’s all-encompassing crypto law is coming — what we know so far Fast facts According to a press release, these unregistered […]

Responding to a hypothetical scenario on Twitter, Coinbase CEO Brian Armstrong said that the company would shut down its Ethereum staking services to preserve the blockchain network’s integrity, in the event of a regulatory crackdown. See related article: BlackRock, Coinbase partner to extend crypto trading to institutional investors Fast facts The hypothetical question was posted […]

Cryptocurrency brokerage Genesis announced its CEO Michael Moro will step down as it reshuffles its executive team, while a 20% layoff of its 260-person workforce is being widely reported. See related article: BIS, HKMA partner on Project Genesis to tokenize green bonds Fast facts Chief operating officer Derar Islim will take over as CEO on […]

Top blockchain and crypto news: Eqonex shutters exchange operation. Huobi denies sale report. Taiwan beefs up cyber defenses.

The Federal Reserve issues new crypto banking guidelines. Meanwhile, Singaporean crypto exchange Coinhako plans an expansion.

Cross currents: BlackRock Inc, the world’s biggest money manager, is talking about Bitcoin opportunities amid a market slump. Singapore’s Coinhako looks to have similar ideas.

Nasdaq-listed Eqonex’s decision to shutter its low-fee crypto exchange business to focus on asset management and custodial services may prompt similar moves in the highly commoditized industry.

Welcome to The Daily Forkast – August 16, 2022 – presented by Joel Flynn. Coming up on today’s show: Eqonex to focus on asset management and custody. Chandler Guo – a man on a mission.  Total value locked taking a knock. We’ll have more on those stories — and other news shaping the cryptocurrency and […]

The chief executive officer of troubled crypto exchange Zipmex is being asked to resign by shareholders and potential investors, citing Marcus Lim’s management decisions that led to a severe cash crunch, while the company was granted a three-month moratorium to try to restructure. See related article: Why Singapore may be the ideal place for companies […]

Leon Li, the founder of China cryptocurrency exchange Huobi, is seeking to sell a 60% stake in the company that would value the business at US$3 billion, according to a Bloomberg News report that cited people familiar with the matter. See related article: Sam Bankman-Fried’s Voyager debt emerges; Celsius reshuffles board Fast facts See related […]

Indian crypto exchange Bitbns said on Thursday that withdrawals in Indian rupees (INR) have been delayed as law enforcement officers have blocked its bank account.  See related article: India authorities freeze Vauld exchange’s assets worth $46.5 mln Fast facts “If a cybercrime case is raised for say even an amount of 10,000 Indian rupees (US$125), […]

India’s Enforcement Directorate is investigating at least 10 cryptocurrency exchanges for alleged money laundering, according to The Economic Times

What’s a crypto trader to do when the government freezes exchange assets, sparking a war of words between supposedly ‘merged’ exchanges?

Zanmai Labs Private Limited, the firm operating Indian cryptocurrency exchange WazirX, said Tuesday it has a no-tolerance policy towards any “illegal activities”. Users agree to use the exchange in accordance with applicable laws, the company said in a statement. See related article: Tax authorities recover US$9M from India’s biggest crypto exchanges Fast facts WazirX, one […]