Cryptocurrency Financial News
Calibra, the Facebook subsidiary that will develop the Libra wallet, has registered as a money services business with the US Financial Crimes and Enforcement Network, applied for US money transfer licenses, and has now begun the process to receive the coveted BitLicense from the New York State Department of Financial Services.
Coinbase terminated its Chicago division at the end of April, and Gemini’s new Chicago-based outpost has reportedly already taken on five former Coinbase employees.
While speaking at a Bitcoin 2019 conference event, ShapeShift CEO Eric Voorhees remarked on Libra, its spot on his exchange’s platform, and what it will mean for broader cryptocurrency adoption.
Hackers were able to breach the accounts of about 90 users of the Singapore-based cryptocurrency exchange, managing to steal 9.3 million XRP and 2.5 million Cardano, totaling $4.7 million.
Indian crypto exchange Koinex announced it will be ceasing operations as a result of the Reserve Bank of India’s ban on banks offering services to crypto-related firms.
As the price of bitcoin dropped more than $1,700 in 15 minutes, crypto exchange Coinbase experienced major outages across its website, mobile apps, and API.
After an oracle error resulted in a trading bot receiving profits of 1,000 times their actual worth, an agreement between the bot’s owner and Synthetix saw the exchange platform get back 37 million synthetic Ether while the bot owner received a bug bounty.
Smaller crypto exchanges in South Korea are offering some customers “beehive accounts,” which manage traders’ money via the exchanges’ own corporate bank accounts, masking users’ identities.
Japan’s Financial Services Agency may issue a license as early as this month that would allow the messaging app Line to open an exchange, allowing its users to trade cryptocurrency, including Line’s native token, Link.
Ernst & Young, QuadrigaCX’s court-appointed monitor, has released a report showing Gerald Cotten, the exchange’s deceased CEO, stole up to $200 million of users’ funds, which may have been used to purchase the boat, aircraft, luxury vehicles, and gold and silver coins Cotten owned.
Five major cryptocurrency exchanges in South Korea have formally changed their terms of service to become more liable for hacks that may affect users, even if the exchange platform was not “willfully or grossly negligent.”
While Binance DEX only supports tokens built on Binance Chain, Binance’s own blockchain, the decentralized exchange will now support bitcoin trading with a newly created token pegged to the bitcoin. Similar to stablecoin issuers, Binance DEX’s bitcoin-pegged token will be backed by bitcoin reserves held by Binance.
While non-verified US users may still be able to use Binance.com using a VPN, an update to the platform’s Terms of Use states Binance “is unable to provide services to any U.S. person.”
The “fully decentralized” blockchain/artificial intelligence startup Raven Protocol plans to sell 300 million Raven tokens on Binance’s recently launched decentralized exchange Binance DEX. The token sale is being dubbed an “initial DEX offering.”
Binance’s new trading platform, Binance US, will specifically target North American customers. However, very little is known about Binance’s partner, BAM Trading Services, which is said to be the platform’s operator.
After Bittrex was denied a BitLicense for allegedly allowing users from sanctioned nations to use the platform, and after Bitfinex was issued a court order by the New York Attorney General for allegedly covering up an $850 million loss, both exchanges appear to be ramping up their KYC protocols for both new and current users.
McAfeeMagic.com, John McAfee’s own cryptocurrency trading platform, is hosted on Amazon Web Services servers that come with DDoS protection. Users will be able to manually or automatically buy and sell crypto on multiple exchanges from a single dashboard.
Ethfinex and its DAO, EfxDAO, will work to build a “decentralized government” that Ethfinex hopes will make it harder for regulatory agencies to crack down on the exchange.
Two weeks before Beaxy Digital LTD was scheduled to begin trading, the crypto exchange experienced a SIM swap hack. According to the exchange, nothing was stolen, and it’s set to launch with revamped security.
Keeping the DAO flame burning, Gnosis and DAOstack have raised $12 million from anonymous investors as the two companies attempt to get the dxDAO project up and running.
