HTX, a cryptocurrency exchange formerly known as Huobi, has recently resubmitted its application for a Virtual Asset Trading Platform (VATP) license in Hong Kong. This move comes after the exchange withdrew its initial application without explanation, raising questions about its eligibility and compliance with regulatory requirements. According to the Securities and Futures Commission (SFC) website,
Exchanges
The Hong Kong-based crypto exchange BitForex has recently faced a sudden and unexpected shutdown, leaving users with their funds stuck on the platform. The suspension of both the website and trading application on Feb 23 has caused a stir in the crypto community, with concerns rising about the exchange’s credibility. Questionable Trading Volumes BitForex boasted
Kraken, a prominent cryptocurrency exchange, has been at odds with the US Securities and Exchange Commission (SEC) over allegations of operating unlawfully as an unregistered securities exchange. The SEC’s decision to sue Kraken following the firm’s advocacy for regulatory reform raises questions about the agency’s motives. By targeting Kraken for its political speech, the SEC
In response to the increasing scrutiny of global crypto regulations, Backpack Exchange, a crypto platform founded by former FTX executives, announced its expansion to 11 US states. This move signifies a strategic effort to establish a strong presence in the US market and comply with regulatory requirements. CEO Armani Ferrante expressed the company’s dedication to
The trend of declining exchange balances for Bitcoin has been evident since mid-March 2020, marking a significant shift in investor behavior. Initially, over 17% of Bitcoin’s total supply was held on exchanges, reaching a record high. However, this trend has continued through Bitcoin’s 2021 bull run and into 2024. According to CryptoSlate’s analysis of Glassnode
In a recent announcement, cryptocurrency exchange Binance revealed its plans to discontinue trading and subscription services for leveraged token offerings such as Bitcoin, Ethereum, and its BNB Coin, effective Feb. 28. The exchange stated that it would delist these tokens and halt redemption by April 3, affecting tokens like BTCUP, BTCDOWN, ETHUP, ETHDOWN, BNBUP, and
In its latest financial report, cryptocurrency exchange Coinbase disclosed its net income and adjusted EBITDA for the fourth quarter and full year of 2023. For Q4 2023, Coinbase reported a net income of $273 million and an adjusted EBITDA of $305 million. Over the course of the entire year, it recorded a net income of
The Korea Financial Intelligence Unit (KoFIU) has recently unveiled an extensive plan aimed at enhancing supervision and regulation within the crypto industry. This move comes as part of South Korea’s commitment to strengthening financial oversight and consumer protection in the ever-evolving digital asset landscape. With the development of their comprehensive strategy for 2024, which involved
Hong Kong’s Securities and Futures Commission (SFC) and local law enforcement have issued a public warning regarding an entity impersonating the legitimate crypto exchange, MEXC Global. The scammers are using deceptive tactics to lure unsuspecting victims into a crypto investment scam, posing as a virtual asset trading platform. This article analyzes the warning and highlights
The surge in the total assets under custodial accounts within the crypto market has been nothing short of remarkable. Over the past four months, these accounts have seen a staggering 250% increase, fueled in part by the growing anticipation of a bull run and the integration of cryptocurrencies into daily life. In addition, macroeconomic conditions
