HTX’s Hong Kong subsidiary has taken down its application to run a “virtual asset trading platform” that provides retail trading services, according to the website of the relevant regulator. According to the South China Morning Post, which cited the Securities and Futures Commission’s list of license applicants, HBGL Hong Kong
BitForex, a prominent crypto exchange, finds itself embroiled in a storm of controversy as users raise alarms over mysterious outflows, a CEO departure, and an eerie silence from the platform. According to blockchain analyst ZachXBT, BitForex’s hot wallets experienced staggering outflows totaling approximately $56.5 million on February 23. This alarming
FTX, the bankrupt crypto exchange, has reached a settlement with its EU founders, Patrick Gruhn and Robin Matzke, who were sued for over $323 million. The settlement also involves FTX selling its assets in the EU, where it failed to gain traction. The lawsuit, filed in July 2023, claimed that
On Thursday, Kraken filed a motion to dismiss the case, claiming that the U.S SEC had not charged fraud and had instead stretched the meaning of a contract in its lawsuit. With the argument that cryptocurrencies—or at least those included in the SEC’s complaint—should be classified as commodities rather than
The activities of prominent cryptocurrency exchanges, such as Binance, OctaFX, and Coinbase, have been disrupted by Nigeria. Particularly, this step follows the Central Bank of Nigeria’s recent decision to allow cryptocurrency transactions, indicating a very uncertain regulatory environment for digital assets in the nation. Meanwhile, the Nigerian government has ordered
With the support of the nonprofit Superhumans Foundation, Binance Charity, the charitable arm of the premier global blockchain ecosystem Binance, is pleased to announce the beginning of educational programs aimed at helping Ukrainian residents affected by the conflict. These initiatives seek to provide these people fresh perspectives and provide them
Hong Kong’s Securities and Futures Commission (SFC) has seen a surge in crypto license applications from both local and global players in the past two months. On Feb. 20, Huobi HK, the Hong Kong arm of crypto exchange Huobi, became the 18th applicant for a virtual asset trading platform license.
The Financial Intelligence Unit (FIU) issued non-compliance notices to several major foreign crypto exchanges in December 2023, demanding adherence to KYC and AML regulations. This was followed by app store bans and URL blocking, effectively shutting down access for Indian users. The foreign crypto exchanges are Binance, HTX, Kraken, Gate.io,
Galaxy Digital, an investment firm founded by Mike Novogratz, has purchased a huge quantity of Ethereum (ETH) from two major crypto exchanges, Coinbase Prime and Binance. The transaction, worth about $76 million, shows Galaxy Digital’s bullish outlook on Ethereum and its future potential. Galaxy Digital withdrew around 26,000 ETH from
For a digital asset on- and off-ramp solution, crypto exchange Backpack teamed up with Banxa, a worldwide crypto on-ramp provider. Banxa announced on twitter on February 19 that the new on-ramp solution would be available to backpack users in more than 130 countries. The developers of Solana’s executable collection of
