Crypto Derivatives Platform Vows to Tackle Socialized Losses Seen on Other Exchanges

A crypto futures exchange says its features mean it is well-positioned to solve current problems that exist among rivals. The team behind FTX claims they were driven to act after “hours of feedback” to established exchanges about the problems with their products went ignored. As a result, the company claims that its platform “reduces the […]

LocalBitcoins Imposes Restrictions on Iranian Accounts

Major peer-to-peer cryptocurrency exchange LocalBitcoins.com has banned users living in Iran, according to their website as of today, May 24. Screenshot of LocalBitcoin Iranian page as of press time A source had previously told Cointelegraph in an email that the impetus for restricting Iranian transactions is to comply with financial regulations in Finland, where the […]

Kraken Paid 250 Salaries to Staff in Bitcoin Last Month, Exchange Tells Critic

Kraken paid 250 salaries to staff in bitcoin (BTC) last month, the crypto exchange revealed in a tweet on May 23. The firm was responding to Peter Schiff, the CEO of Euro Pacific Capital, who had claimed “there is no way that people are going to work for salaries paid in bitcoin.” As an aside, Kraken added: […]

New Interface Screenshots Appear to Confirm Margin Trading Testing

Cryptocurrency exchange Binance delivered what appeared to be the first confirmation it had added margin trading for traders in a social media update on May 24. As part of its ongoing transition that will see new products, including a decentralized exchange, Binance released preliminary views of its new trading interface. Composed of a “dark” and […]

Finance IT Infrastructure Firm Partners With Institutional Crypto Exchange Seed CX

Trading IT infrastructure company Avelacom has partnered with digital currency exchange Seed CX, according to a press release published on May 23. The partnership aims to allow institutional clients of Avelacom —  an IT infrastructure provider for the financial services industry — to utilize Seed CX’s real-time market data and order-routing products. Currently, Seed CX […]

Binance’s CZ Seeks Compensation From Sequoia for Alleged Reputational, Financial Damage

Changpeng Zhao, the CEO and founder of major crypto exchange Binance, is seeking damages from venture capital firm Sequoia Capital China for having ostensibly hurt his reputation and unjustly prevented him from raising capital during its now-dismissed legal challenge against him last year. A Binance spokesperson shared the news with Cointelegraph on May 23. Attorneys […]

Japan to Check Money Laundering Policies of Crypto Exchanges Ahead of FATF Inspection

Japan’s Financial Services Agency (FSA) is reportedly cracking down on crypto exchanges that offer anonymous transactions or have weak identity verification practices in preparation for inspection by the Financial Action Task Force (FATF) this fall. Nikkei Asian Review reported the development on May 22. The FATF will reportedly send its investigatory arm to review the […]

Bitfinex and Tether Obtain Stay of Demands From New York Supreme Court

Cryptocurrency exchange Bitfinex and its affiliated stablecoin issuer Tether have been granted its stay of demands for which they applied yesterday May 21, according to a blog post published on May 22. Per the post, Justice Joel M. Cohen of the New York Supreme Court (NYSC) ruled to grant the companies their motion for an […]

Are Centralized Exchanges the Way to Go?

It goes without saying that exchanges command significant influence over the cryptocurrency market, being the exclusive portals for fiat into the world of blockchain. Exchanges are also the most significant winners of the cryptocurrency craze, and bank billions by raking in fees and maintaining custody over sizeable crypto wallets comprised of their own funds but also […]

Hackers Steal $100,000+ Worth of BTC From Engineering Manager at Crypto Custodian BitGo

Sean Coonce, engineering manager at cryptocurrency custodian BitGo, announced that he has fallen victim to a SIM swapping hack in a Medium post published on May 20. According to the post, Coonce had over $100,000 siphoned out of his account on cryptocurrency exchange Coinbase in under 24 hours. In his post, Coone details SIM swapping, […]