Browsing: Other Exchanges News

Celsius crypto lending faces closure NewCo’s emergence amid an industry shift and a shutdown in 90 days due to bankruptcy proceedings In a dramatic turn of events, the once-prominent crypto lending platform, Celsius, is teetering on the brink of closure after six years of making waves in the digital currency realm. Launched with a promise to revolutionize the industry in 2017, the company’s fortunes seem to be taking a swift downturn, leaving crypto enthusiasts and investors on the edge of their virtual seats. While Celsius once exemplified innovation and potential, its narrative takes an unexpected turn. Recent events point to…

Huobi Exchange faces declining volume, regulations, and market exits, necessitating compliance focus, platform improvements, marketing revitalization, and strategic partnerships for recovery. Huobi Exchange, previously a prominent player in the cryptocurrency market, had once boasted a daily trading volume exceeding $2 billion and held the third position in terms of overall trading activity. However, the recent trajectory of Huobi indicates a loss of momentum. Recent reports and data shared by Willy Woo, a recognized cryptocurrency expert on Twitter, suggest that the exchange has encountered a substantial decrease in transaction volume and a decline in web traffic over the past few months.…

Hotbit Exchange Accused of Rugpull as Selling Rampage Raises Concerns in Crypto Community. Hotbit Exchange, a prominent cryptocurrency trading platform, is facing allegations of engaging in a selling rampage that is suspected to be a rugpull attempt. The accusations have emerged after decentralized finance (DeFi) project RichQuack took to Twitter to announce that it had fallen victim to a rugpull orchestrated by Hotbit. According to the tweet, the exchange allegedly sold a staggering 256 trillion QUACK tokens, which rightfully belonged to $QUACK holders on the PancakeSwap platform. At the time of writing, the total value of the tokens sold off…

Crypto.com secures Virtual Asset Service Provider (VASP) license in Spain, allowing them to offer their products and services to Spanish digital asset users. Meanwhile, Binance encounters registration complications and legal troubles in Europe, leading to concerns in the crypto industry. Major cryptocurrency exchange Crypto.com has announced that it has obtained regulatory clarity in Spain, with ⁠ the Bank of Spain granting the exchange a Virtual Asset Service Provider (VASP) license. This development comes when Binance, the largest crypto ⁠ exchange by trading volume, faces compliance hurdles in Europe. ​ To obtain the VASP license, Crypto.com underwent a thorough review to ensure ⁠ compliance…

EDX Markets disrupts crypto landscape with Wall Street’s backing, poised to conquer the industry. Newcomer to the cryptocurrency exchange scene EDX Markets has received significant backing from illustrious Wall Street titans, solidifying its entry into the market. The exchange, which has the support of Citadel Securities, Charles Schwab, and Fidelity Investments, intends to introduce conventional financial procedures and distinctive advantages to the world of digital assets. The cryptocurrency community greeted EDX Markets’ opening of its digital assets exchange on June 20 with enthusiasm. The exchange’s dedication to competitive quotes, liquidity, and a non-custodial architecture intended to reduce conflicts of interest…

Binance CEO Changpeng Zhao has endorsed a fresh entrant into the cryptocurrency exchange arena. The exchange, called EDX, has garnered support from renowned financial institutions, including Citadel Securities, Fidelity Investments, and Charles Schwab. CZ took to Twitter to share his enthusiasm, posting a screenshot of a Wall Street Journal article spotlighting the exchange’s remarkable timing. In the midst of increasing regulatory scrutiny, CZ commends the emergence of EDX, asserting that heightened competition in the crypto space brings positive outcomes. As the CEO of a prominent crypto exchange, CZ does not perceive emerging players as a threat due to his broader…