Cryptocurrency exchange News - Blockchain.News

CRYPTOCURRENCY EXCHANGE

 


An exchange that allows users to process cryptocurrency and cryptocurrency-related instruments transactions, such as buying, selling, depositing, and withdrawing their assets. There are usually two main types of exchanges available at present, one type that allows users to exchange their fiat currencies for cryptocurrencies and another that only allows users to exchange cryptocurrencies with other cryptocurrencies. Exchanges can also be either centralized or decentralized, depending on the custody and the amount of control the operator of the exchange can exercise on the transactions.

Bitfinex Tackles Phishing Incident: No Customer Funds Affected
Bitfinex has resolved a phishing incident causing partial customer information exposure, confirming no loss of funds or sensitive data compromise, and ensuring ongoing security measures.
Taiwan's Legislature Considers Virtual Asset Management Bill to Protect Consumers
The Taiwanese Legislature is deliberating on a new Virtual Asset Management Bill aimed at fostering better consumer protection and industry oversight. The bill, seen as moderate, outlines pragmatic mandates for VASPs while leaving room for further regulatory fine-tuning, marking a significant step in Taiwan’s evolving digital asset regulatory landscape.
South Korean Crypto Exchanges Reveal 'Compensation Reserve Funds'; Upbit Leads with KRW 20 Billion
The disclosure of 'Compensation Reserve Funds' by South Korean crypto exchanges, led by Upbit with KRW 20 billion, reflects the country's broader regulatory strides aimed at ensuring user protection, transaction transparency, and market discipline. This move aligns with the new regulatory framework set to be implemented in 2024, spotlighting the government's agenda to foster a robust infrastructure for digital assets, with the reserve fund mandate forming a cornerstone of this initiative.
Alameda Accused of Misusing FTX Customer Funds in Court
Key personnel from FTX and Alameda Research, during a trial, revealed concerning financial mismanagement and misrepresentation practices within the organizations. Gary Wang and Caroline Ellison's testimonies provided insights into significant financial instabilities, misuse of FTX funds by Alameda, and personal ventures being funded through loans from Alameda. The trial uncovers a complex scenario of financial misconduct and troubling personal-professional relationships, shedding light on alarming practices within these crypto entities.
Global Cryptocurrency Exchange Platform Market to Hit $110.12 Billion by 2028
The global cryptocurrency exchange platform market is expected to grow from $45 billion in 2023 to $110.12 billion by 2028, driven by increased demand from crypto gaming and the rise of PlayToEarn games. Blockchain technology's decentralized nature is also gaining traction in decentralized finance platforms and smart contracts. The market is competitive, with North America leading, Europe, APAC, Latin America, and the Middle East & Africa being key growth areas.
OKX Discloses Monthly Proof of Reserves, Holding $10.4 Billion in BTC, ETH, and USDT
OKX, a global cryptocurrency exchange, has reported a $10.4 billion holding in primary assets like Bitcoin, Ethereum, and Tether, with 84% of respondents praising the exchange's transparency and reserve ratios.
Cryptocurrency Exchange Upbit's Operator Dunamu Announces Q2 2023 Net Profit of KRW 108 Billion
The latest quarterly report from Dunamu, the operator of cryptocurrency exchange Upbit, shows a net profit of KRW 108 billion in Q2 2023, a significant improvement from the previous year's net loss of KRW 37.8 billion. The company's revenue fell 47.9% from Q2 2022, but net profit remained positive.
Binance's Success Rooted in External Pressure, Reveals CEO
In a recent tweet, Changpeng Zhao (CZ), the CEO of Binance, the world's largest cryptocurrency exchange by trading volume, shared his insights on building strong teams and the role of external pressure in the company's success.
Binance.US Refutes SEC's Attempted Asset Freeze, Vows to Defend Itself in Court
In a recent update, Binance.US, the American affiliate of leading cryptocurrency exchange Binance, provided an encouraging development in its ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC).
Binance Adds Bitcoin Ordinals to NFT Marketplace
Binance has announced that it will soon support Bitcoin ordinals, also known as Bitcoin NFTs, on its NFT marketplace. This will expand Binance’s multichain NFT ecosystem to include the Bitcoin network. Bitcoin ordinals have been on the rise, with over 3 million inscriptions as of May 1, but they remain a controversial topic in the crypto community.

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