Cryptocurrency Financial News
Crypto exchange Binance has rolled out yet another service offering dubbed Binance X. The platform will serve as a hub to engage and support developers and foster third-party development within Binance’s network.
Privacy-focused web browser Brave has announced plans to develop its own crypto wallet, which will run on MetaMask’s open-source codebase. The wallet will support Ethereum tokens, including Brave’s own native BAT, and cryptocollectibles like CryptoKitties.
Crypto exchange Binance has announced it will launch Binance Lending. The service will allow users to lend out their dormant holdings and earn interest in return. The service will launch with support for Tether, Binance Coin, and Ethereum Classic.
Agencies to include the Federal Bureau of Investigation, the Royal Canadian Mounted Police, an Australian investigative agency, and an unnamed agency have opened separate investigations into the defunct Canadian crypto exchange QuadrigaCX.
Data firm Nomics has announced the launch of its transparent volume service, which calculates the percentage of real volume traded on crypto exchanges to push back against the trend of faked trading volume.
Though Binance has maintained that the know-your-customer hack earlier this month was not entirely made up of Binance users, those whose photos were successfully linked to the exchange will receive free, lifetime VIP membership accounts. The VIP accounts will give them access to all of the exchange’s services, support features, and preferential trading fees.
South Korean crypto exchange Bithumb will begin reviewing its crypto listings monthly, intending to drop failing coins. The exchange’s newly formed Eligibility Deliberation Committee will determine which coins will be dropped based on criteria including low trading volume, low market capitalization, and lack of support from developers.
John Galt, an analyst at cryptocurrency intelligence firm SharkCIA, has found that crypto exchange Beaxy likely lost about $570,000 worth of XRP during a hack two weeks ago that saw users exploit the XRP ledger on the exchange’s platform.
Grant Thornton, the assigned liquidator for the defunct New Zealand crypto exchange Cryptopia, was able to retrieve US user data from an Arizona firm that was storing customer information for the exchange, which is great for those looking to get their holdings back. The problem is, it looks like Cryptopia pooled all customer holdings together in one wallet, making it impossible to determine individual ownership using the keys in users’ wallets.
Crypto exchange BitMEX has added Bermuda, Hong Kong, and the Seychelles to its list of locations with total trade access restrictions. The newcomers join a group made up of jurisdictions including the US, Quebec, and North Korea.
Binance is looking to create partnerships with governments, enterprises, and cryptocurrency and blockchain firms to participate in the exchange’s Venus initiative, which will see the exchange help with the development of new stablecoins on its own blockchain, Binance Chain.
A bug in Coinbase’s sign-up page caused registration details of 3,420 users to be stored in clear text on one of the exchange’s internal servers. Coinbase claims it was able to tie up loose ends before the information was “improperly accessed, misused, or compromised.”
US customers will finally be able to use global cryptocurrency exchange Binance, as Binance anticipates the launch of its new US division within the next few months.
After a long series of delays over regulatory compliance issues, Bakkt is finally on track for a September 23 launch of a platform for daily and monthly futures.
Coinbase Commerce, an app that allows merchants to accept payments in crypto, will now offer support for Coinbase’s USDC stablecoin thanks to the February Ethereum network update (otherwise known as Constantinople).
Samsung’s private key wallet, the Blockchain KeyStore, initially launched with support for Ether and other ERC-20 tokens. Now, the wallet will support bitcoin, though such support will be limited to Samsung‘s S10 and Note10 devices and be only available in Canada, Germany, South Korea, Spain, Switzerland, the US, and the UK.
The UK Advertising Standards Authority has claimed that a BitMEX bitcoin ad placed in the Times of London misled investors by using a log chart to disproportionately highlight the crypto’s growth while hiding price drops.
London-based bank Barclays will no longer work with crypto exchange Coinbase. While the exchange has already found a replacement in ClearBank, the breakup with Barclays means UK Coinbase users will no longer have access to the Faster Payments Service for the time being, also meaning that deposits and withdrawals will take much longer on the platform.
Unlike most blockchains, the XRP network displays transactions that have only been paid in part. Unfortunately for crypto exchange Beaxy, traders exploited this feature to pay a small price for large amounts of XRP, forcing the exchange to roll back a number of trades made at the time.
Crypto exchange Poloniex has announced it will repay trading fees in bitcoin to investors who lost funds when the exchange’s CLAM margin trading market experienced a flash crash on May 26.
