Tag: cryptocurency

Sep 21 2022

Nasdaq to Launch Crypto Custody Services for Institutions

Nasdaq (Nasdaq: NDAQ) has jumped into the cryptocurrency space with the launch of a digital asset services business that will initially offer custody solutions, the company announced on Tuesday.

Dubbed Nasdaq Digital Assets, the platform is considering incorporating "

Sep 09 2022

Huobi Gains Regulatory Approval in the British Virgin Islands

Huobi Group, a big brand in the cryptocurrency industry, announced on Friday the gaining of regulatory approval from the Financial Services Commission (FSC) for the British Virgin Islands.

According to the press release shared with Finance Magnates, the approval to operate as a licensed virtual assets exchange was granted to Huobi’s local subsidiary, Brtuomi Worldwide Limited (BWL).

“This landmark approval makes

Aug 29 2022

Exclusive: Ilies Larbi’s Crypto Exchange Ouinex Seeks €1M in Pre-ICO Round

Ouinex, the cryptocurrency exchange launched by FX industry veteran Ilies Larbi, informed Finance Magnates that it is aiming to secure €1 million in its pre-initial coin officer (pre-ICO)

Aug 26 2022

Singapore’s MAS Seeks Information on Crypto Business Activities

The Monetary Authority of Singapore (MAS) has sent an array of questionnaires to cryptocurrency exchanges operating in the city- state asking for granular details about their business activities.

According to a Bloomberg report on Friday, the regulator is seeking information on top tokens owned by the exchanges, top...

Zipmex Seeks Meeting with Thai Regulator Before Closing Funding

Zipmex, a troubled cryptocurrency exchange that suspended withdrawals in July, is asking to arrange meetings with potential investors and Thailand’s Securities and Exchange Commission (SEC) before sealing a funding deal.

Announced...

Aug 25 2022

KuCoin among 16 Illegal Crypto Exchanges Operating in South Korea

The South Korean authorities are now cracking down on overseas cryptocurrency exchanges as 16 such platforms operate in the country without authorization, local media The Korea Times reported.

Among the illegal platforms are reputed global names like KuCoin and MEXC, which, according to the Korea Financial Intelligence Unit, have allegedly...

Aug 23 2022

BaFin Clarifies Crypto Investments Are Not Protected by Deposit Insurance

German financial market supervisor, the Federal Financial Supervisory Authority (BaFin) clarified on Monday that deposit insurance protection in the mainstream financial industry does not cover losses with cryptocurrencies.

“BaFin now points out that crypto-assets do not fall...

Aug 02 2022

Jul 29 2022

Babel Finance Lost $280 Million in Proprietary Trading

Babel Finance, a troubled Hong Kong-based crypto lender that suspended withdrawals last month, lost $280 million in proprietary trading activities with customer funds, according to a report by The Block that cited a restructuring proposal deck. The firm lost around 8,000 BTC and 56,000 ETH in June with a combined market value of around $280 million. It was due to the liquidation triggered...

Santander to Launch Crypto Trading Services in Brazil

Santander, which is a Spanish multinational banking giant, is going to make strides in the cryptocurrency industry. Santander Brazil’s CEO, Mario Leao revealed on Thursday that the bank is planning to launch crypto trading services for Brazilian clients in the coming months. First reported by local newspaper Folha de S. Paulo, the bank is expected to provide further details about its crypto plans...

Jul 28 2022

Coinbase and FTX to Invest in Coinfeeds

FTX and Coinbase, two major cryptocurrency exchanges, announced on Thursday that they have invested through their respective venture arms into Coinfeeds, a startup known as the ‘Bloomberg for cryptos.’According to the press release, the investment was possible through a $2 million seed funding round set by Coinfeeds, a firm dedicated to monitoring social media mentions and activity in the crypto sphere. Coinfeeds...

As Crypto Falls, What Will Attract Institutional Investors into Crypto Assets?

The Catalysts for the Downturn Cryptocurrencies are facing unprecedented and unrelenting pressure on both a micro and macro level. The very principle of crypto was to be decentralised and decorrelated from the wider capital markets, but, in the past few months, we have seen that the two have become intrinsically linked. Some cryptocurrencies are now behaving more like volatile tech stocks, with the...

Standard Chartered’s Zodia Markets Gains FCA Approval, Launches Crypto Services

Zodia Markets announced Thursday the launch of its institutional crypto exchange and brokerage business as the platform gained a mandatory crypto asset registration from the UK’s Financial Conduct Authority (FCA). “Whilst the digital asset markets have recently seen volatility and downward pressure, adoption continues unabated, with institutions entering the market at a rapid pace,” said Usman Ahmad, Chief Executive Officer at Zodia. “At...

Jul 27 2022

South Korea to Investigate Forex Transactions Linked to Crypto

South Korean watchdogs are reportedly opening inquiries into ‘abnormal’ forex transactions worth $3.1 billion linked to crypto investments suspected of money laundering.According to the Financial Times, the transactions took place in two of the biggest commercial banks in the country: Woori Bank and Shinhan Bank. The Financial Supervisory Service said that such moves worth 4.1 trillion Korean won also were done since...

Jul 25 2022

XP Inc to Launch Crypto Trading Platform in August

On Monday, XP Inc, a Brazilian brokerage, said that it expects to open its crypto trading platform to the public by mid-August. According to Reuters, the platform will initially offer Bitcoin (BTC) and Ethereum (ETH), with plans to expand its offering by the end of the year.As of now, XP has 3.6 million customers but said that cryptocurrency trading will be subject...

Jul 22 2022

Binance Starts Offering Crypto CFDs to Wholesale Australian Traders

The Australian subsidiary of Binance announced the launch of cryptocurrency contracts for differences (CFDs), targeted at wholesale traders in the country. These over-the-counter (OTC) derivatives are offered under an Australian Financial Services (AFS) license. The launch came after Binance terminated offering all derivatives products in Australia last August following a general warning issued by the local financial market regulator against unlicensed...

Jul 21 2022

US SEC Charges Former Coinbase Employee in Crypto Insider Trading Plot

The US Securities and Exchange Commission (SEC) announced on Thursday that it filed charges against a former Coinbase product manager, his brother, and his friend in a cryptocurrency insider trading case.According to the press release, the defendants are accused of perpetrating a scheme to trade ahead of multiple announcements regarding certain cryptos that would later be made available on Coinbase.Case Background...

Former Celsius Executive Said CLE Price Was Manipulated

A former Celsius executive revealed that the company may have manipulated CLE token price. Timothy Cradle started working at Celsius for 2 years as a anti money laundering (AML) analyst.Cradle was then promoted to Head of Monitoring and then Director of Financial Crimes Compliance for 3 months.Going back to 2019, Cradle said he heard senior executives discussing CEL at a Christmas...

Jul 20 2022

Gemini Approved as a Virtual Asset Service Provider in Ireland

Gemini cryptocurrency exchange has been registered as a Virtual Asset Service Provider (VASP) in Ireland. The approval was provided by the central bank of Ireland.Gemini is the first crypto exchange to be approved as VASP in the country. The exchange opened its HQ in Ireland (Dublin) in 2021. Gillian Lynch, Head of Ireland and EU said the following on the approval: "We...

Jul 18 2022

Meow Secures $22 Million in Series A Funding Round

Meow, a cryptocurrency company, announced on Monday that it closed on $22 million in a Series A financing round. According to the press release, Tiger Global led the round, along with QED Investors and FTX, a major cryptocurrency exchange, and others.The round will support the company’s rapid growth through new hires and enhanced product features. Meow was launched in early 2022 with...

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