Crypto Trading Venues Have Been Under Extreme Regulatory Fire

Bitfinex, arguably the World’s most important crypto-fiat onramp, while having dealt with the brunt of their fiat-issues in October to April, continue to …

CRYPTO MOVERS AND PRICES

Crypto Trading Venues Have Been Under Extreme Fire As Of Late With A Constant List Of Issues Facing Some Of The Largest Players – Exchange Stress Has Historically Been One Of The Most Significant Factors Contributing To Weak Crypto Prices

Nearly every major trading venue in crypto is experiencing some form of crisis. BitMEX, who hosts the World’s most active BTC product, is under investigation by the CFTC around whether US-residents are using VPNs to skirt the platform’s firewalls which bar their participation. Bitfinex, arguably the World’s most important crypto-fiat onramp, while having dealt with the brunt of their fiat-issues in October to April, continue to battle a lawsuit brought by the New York Attorney General. Coinbase, the most important US-based crypto exchange, is now facing a negligence lawsuit from US regulators after their handling of the November Bitcoin Cash hardfork. Furthermore, they do not appear to have had much support from the courts who declined their request to settle the dispute in arbitration. Finally, the World’s largest crypto/crypto platform Binance, yesterday appears to have fallen victim to a data hack which saw KYC information of 10,000 users released. This falls in already a difficult time for Binance where they just recently moved past a BTC hack and barred US IP addresses from participating on their exchange.

Key Takeaway: In crypto’s young history, some of the sector’s worst moments have come during periods of intense stress for important trading venues. Since the Mt. Gox hack in 2013/14 which nearly killed the industry, exchange stress has been a highly followed factor. While current exchange issues/trials are far from that magnitude of seriousness, another more recent precedent, such as Bitfinex’s deposit/withdrawal frictions in late 2018 have seen high correlations with near-term price weakness.

Related Posts:

  • No Related Posts

LatiumX (LATX) Achieves Market Capitalization of $206595.00

LatiumX (CURRENCY:LATX) traded down 33.6% against the US dollar … LatiumX’s total supply is 300,000,000 tokens and its circulating supply is …

LatiumX logoLatiumX (CURRENCY:LATX) traded down 33.6% against the US dollar during the 1-day period ending at 7:00 AM Eastern on August 9th. One LatiumX token can now be bought for $0.0020 or 0.00000017 BTC on popular exchanges including YoBit, Livecoin and BitForex. During the last week, LatiumX has traded 34.9% lower against the US dollar. LatiumX has a total market capitalization of $206,595.00 and $2,298.00 worth of LatiumX was traded on exchanges in the last day.

Here is how other cryptocurrencies have performed during the last day:

  • XRP (XRP) traded 3% lower against the dollar and now trades at $0.30 or 0.00002544 BTC.
  • Binance Coin (BNB) traded 1.9% lower against the dollar and now trades at $30.10 or 0.00256242 BTC.
  • Tether (USDT) traded down 0.2% against the dollar and now trades at $1.00 or 0.00008504 BTC.
  • Bitcoin SV (BSV) traded 3.9% lower against the dollar and now trades at $139.59 or 0.01188401 BTC.
  • Stellar (XLM) traded 3.9% lower against the dollar and now trades at $0.0742 or 0.00000632 BTC.
  • TRON (TRX) traded 4.6% lower against the dollar and now trades at $0.0211 or 0.00000180 BTC.
  • Chainlink (LINK) traded 4.5% lower against the dollar and now trades at $2.22 or 0.00018931 BTC.
  • NEO (NEO) traded 4.3% lower against the dollar and now trades at $10.44 or 0.00088883 BTC.
  • COZ (COZ) traded 26.7% higher against the dollar and now trades at $0.22 or 0.00004541 BTC.
  • Crypto.com Chain (CRO) traded 11.9% higher against the dollar and now trades at $0.0518 or 0.00000441 BTC.

About LatiumX

LatiumX was first traded on August 30th, 2017. LatiumX’s total supply is 300,000,000 tokens and its circulating supply is 104,843,091 tokens. LatiumX’s official website is latium.org. LatiumX’s official Twitter account is @LatiumCoin and its Facebook page is accessible here. The Reddit community for LatiumX is /r/Latium and the currency’s Github account can be viewed here.

LatiumX Token Trading

LatiumX can be purchased on the following cryptocurrency exchanges: BitForex, Livecoin and YoBit. It is usually not presently possible to purchase alternative cryptocurrencies such as LatiumX directly using U.S. dollars. Investors seeking to trade LatiumX should first purchase Bitcoin or Ethereum using an exchange that deals in U.S. dollars such as Changelly, Gemini or Coinbase. Investors can then use their newly-acquired Bitcoin or Ethereum to purchase LatiumX using one of the exchanges listed above.

Receive News & Updates for LatiumX Daily – Enter your email address below to receive a concise daily summary of the latest news and updates for LatiumX and related cryptocurrencies with MarketBeat.com’s FREE CryptoBeat newsletter.

Related Posts:

  • No Related Posts

Bithumb Cryptocurrency Exchange Will Enter Singapore Market Via Local Platform BitHolic

Bithumb, a prominent South Korean cryptocurrency exchange, is set to enter the crypto market of Singapore soon. According to a local media outlet …

Bithumb, a prominent South Korean cryptocurrency exchange, is set to enter the crypto market of Singapore soon. According to a local media outlet called News1 Korea, the company has acquired a regulated company in the country to buy its entrance in the market.

The selected company is BitHolic. The media outlet affirmed that BitHolic has recently changed its name to Bithumb Singapore, which is pretty much a great hint of what happened.

An anonymous source who was interviewed by News1 Korea, the equity structures of the deal were not revealed, but Bithumb is trying to advance to international markets and it will start with this close market by acquiring the other company and using it as a base to quickly enter Singapore with licenses already in place.

Part of the reason for choosing BitHolic might because of Park Jeong Hun. He worked as a director on the South Korean company some years ago and now represents the Singaporean company, so he probably acted as the bridge during the deal.

This is a clear move in a very popular trend: move internationally to get more clients because crypto is getting popular. Several companies such as Coinbase and Binance are doing it, so the South Korean giant could not lose this chance.

Despite the expansion, Bithumb is far from being in its best year ever. Earlier in 2019, the company was hacked and it lost USD 19 million, mostly on XRP and EOS tokens. The hack was smaller than the previous one, though, which saw the exchange losing around USD 30 million.

Related Posts:

  • No Related Posts

South Korean Cryptocurrency Exchange Collaborates with two Companies; Aims at Enhancing …

Both the companies will offer ‘public disclosure information’ and ‘smart contract audit information’ for digital currencies registered on Coinone.

The leading crypto exchange firm of South Korea, Coinone has teamed up with two companies, namely, CertiK-a cybersecurity audit company and Xangle – a disclosures firm to improve security and transparency attributes.

As per the Coinone announcement on August 7, the company has inked a deal on white paper with CertiK and Xangle. Both the companies will offer ‘public disclosure information’ and ‘smart contract audit information’ for digital currencies registered on Coinone.

As part of the collaboration, Xangle will function on project transparency and investor protection, and CertiK will monitor the security of the program, project information security, technology validation, screening process, and other.

The report for Xangle mentions that the company will offer security for crypto traders and also enhance the transparency of the projects. The disclosures might contain information about new tokens, investment stocks volatility, modifications in a project’s business framework, and token governance.

CertiK will examine projects at the code level and will carry audits of project registered on Coinone, according to the company announcement.

South Korea’s no.3 cryptocurrency exchange mentioned,

Coinone strives to establish a listing system and strengthen the public function of the exchange (market surveillance, disclosure, and internal listing) in order to harmonize the two goals of actively listing cryptocurrency and securing investor confidence.

The move comes after three major cryptocurrency firms. Namely, Bithumb, Upbit, and Korbit, along with Coinone, are facing difficulties in updating their bank accounts in the country. The South Korean banking organizations are now requesting for a demand standards from crypto exchanges, following the new guidelines of Financial Action Task Force (FATF). According to new FATF guidelines, it makes crypto exchanges officially responsible for any identified money laundering operations. The limitations are so strong that small scale crypto exchange firms might find it difficult to stand.

Recently, it was reported that the South Korean Financial Intelligence Unit of Financial Services Commission is considering monitoring of the crypto exchanges directly.

Coinone other Developments

Earlier, it was reported by a source, Coinone had revealed its plan to grow its business across Indonesia, in April 2018. The crypto exchange outlined to back six digital currencies in June after launches such as Bitcoin, Ether, Bitcoin Cash, Litecoin, Ethereum Classic, and Quantum.

On the other side, payment business of Coinone and Coinone Transfer- subsidiary cryptocurrency exchange has collaborated with SBI Ripple Asia to simplify blockchain remittance in the country. The new platform is named as ‘Cross’ that will enable customers to send remittances across 8 nations also in Thailand, the Philippines, and China.

According to the information, in the local South Korea press mentions that the main issue for Coinone is the risk that the coins would launch viruses by itself in the crypto exchange and enable to hack it.

About CertiK

CertiK – a US-based company, established in 2017. The company has two members and a co-founder, Ronghui Gu. The blockchain-based cybersecurity startup firm has received investment from Binance Labs and Consensus Labs. CertiK is already operating in South Korea. Back in June 2019, the firm reached a deal with the local blockchain platform, FLETA in order to improve the systems of the company and help protect other components of its system.

Apart from partnering with Coinone, CertiK also introduced a native blockchain on 22nd July.

About Xangle

Xangle is cryptocurrency disclosure firm, headquartered at Seoul. The company offers ‘tear-sheet-style’ details of tokens structure and fundamentals such as formal name, important people, registered address, pricing, and important events.

Related Posts:

  • No Related Posts

Binance Announces Perlin [PERL] Network as 8th IEO on the Launchpad

Binance Research describes it as a “highly scalable, PoS smart contract platform that achieves a throughput of 31,000+ TPS and consistently has 0 to …
Binance Announces Perlin [PERL] Network as 8th IEO on the Launchpad

Leading cryptocurrency exchange Binance has revealed the next project on its popular token launch platform Binance Launchpad. The 8th project on the Launchpad, Perlin[PERL] will be seeking about $6.7 million from its Initial Exchange Offering (IEO) this month.

According to an announcement post on the Binance support website, the Perlin token sale will be conducted through the lottery and airdrop system with a few minor changes to the process. BNB balances will be recorded as usual starting from Friday, August 9th, and will continue through August 23rd, a period of 15 days.

As opposed to the previous token sale for WINk tokens, whose BNB account balances were recorded at the end of the day, with Perlin, account balances will be recorded throughout the day to get an hourly average that will be used to get a daily figure. With this daily figure, Binance will again average that at the end of the account recording period to get the daily average which will be used to calculate the number of qualifying tickets for each participant. In addition, Binance has reserved about 3,874,500 PERL (approximately $300,000 USD) tokens to be airdropped to participants who aren’t lucky enough to get a winning ticket.

Here are a few details shared by Binance about the Perlin token sale:

  • Token Name: Perlin (PERL)
  • Total Token Supply: 1,033,200,000 PERL
  • Launchpad Hard Cap: 6,700,000 USD
  • Total Tokens Allocated to Binance Launchpad: 86,530,500 PERL (8.38% of Total Token Supply)
  • Public Sale Token Price: 1 PERL = 0.07743 USD
  • Max Number of Winning Lottery Tickets: 13,400
  • Allocation Per Winning Ticket: 500 USD (6,457.45 PERL)

Perlin will be initially launched as an ERC-20 compliant tokenPerlin will be initially launched as an ERC-20 compliant token

Perlin will be initially launched as an ERC-20 compliant token, which is a divergence from its other previous Launchpad projects that launched as BEP2 tokens on the Binance Chainblockchain. It is, however, expected that the project will shift over the Binance native blockchain after the launch.

So what is Perlin Network? Binance Research describes it as a “highly scalable, PoS smart contract platform that achieves a throughput of 31,000+ TPS and consistently has 0 to 4 second time to finality, all of which is made possible by Wavelet, a DAG-based probabilistic consensus mechanism.”

Perlin was launched mid last year through an ICO reportedly raising about 80,000 ETH, a sum the project team has been sitting on through the crypto winter. Unfortunately, this amount has depreciated a lot which has forced the project to seek more funds through the IEO.

Related Posts:

  • No Related Posts