Crypto Futures Trading

2023-09-29 09:12:00 OKX Ventures invests in knowledge graph protocol 0xScope

OKX Ventures, the investment arm of crypto exchange OKX, invested in data intelligence platform 0xScope, as it continues to expand its portfolio. In a statement, 0xScope — which offers a knowledge graph protocol for Web2 and Web3 data — said that with the new capital, it aims to create an inclusive, open-source ecosystem that enables seamless uploading, validation, processing and downloading of Web2 and Web3 data. OKX did not disclose the size of the investment.

The investment arm of crypto exchange OKX said data plays a crucial role as one of the main technological pillars of Web3. "Data plays a crucial role in the three main technological pillars of Web3: new capital, it aims to create an inclusive, open-source ecosystem that enables seamless uploading, validation, processing and downloading of Web2 and Web3 data. cross-chain integration, decentralized storage and privacy computing," Dora Yue, founder of OKX Ventures, said in the statement. "By leveraging knowledge graph technology, 0xScope has made impressive progress in these three areas." In August, OKX Ventures announced a $1 million investment in Moonbox, a Hong Kong-based artificial intelligence and Web3-focused startup.

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2023-09-28 08:52:20 Kraken EU E-money License In Ireland Helps Platform Promote Crypto Services

Kraken, a renowned cryptocurrency platform known for its security and longevity, has secured authorization from the Central Bank of Ireland to operate as an E-Money Institution (EMI). Kraken EU E-money license, granted to Kraken’s subsidiary in Ireland, empowers the platform to collaborate with European banks for the expansion of its Euro-denominated services. This expansion encompasses clients across 27 European Union (EU) member states and European Economic Area (EEA) countries, which are pivotal growth areas for the company.

In Spain, Kraken’s newly acquired VASP registration permits the provision of cryptocurrency exchange and custodial wallet services to residents. This achievement follows recent VASP registrations in both Ireland and Italy. Kraken EU E-money license and VASP serve as a testament to Kraken’s persistent dedication to adhering to regulatory standards and fostering European expansion. Kraken has consistently upheld its reputation for robust security measures and exceptional customer service for more than a decade. The company continues to invest in the enhancement and diversification of its offerings. In the past year, Kraken has introduced innovations such as its NFT marketplace, the advanced Kraken Pro trading interface, and a revamped consumer web user experience.

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2023-09-27 09:00:40 Sam Bankman-Fried’s counsel again asks for jail release ahead of trial

Attorneys for Sam Bankman-Fried, founder of failed crypto exchange FTX, once again asked a district court to temporarily release him from jail ahead of his upcoming trial next month. “The Court has previously noted that it understands the difficulties of preparing a complex case for trial,” his lawyers said. “We submit that we are finding it exceedingly difficult as a practical matter to adequately prepare for trial with the restrictions on access currently in place.

Bankman-Fried’s defense counsel added that they will only have access to him in the cellblock for a very limited amount of time in the morning before the trial day begins. “When the trial day ends, he will be taken back to the MDC and will arrive well past the time when visiting hours are over,” the lawyers said. “​​We believe that temporary release is the only way for defense counsel to have sufficient access to Mr. Bankman-Fried to properly represent him at trial,” they added. In August, his lawyers claimed that the Department of Justice’s request to revoke his bond — after he shared private diaries belonging to Caroline Ellison with the press — was based on “thin” factual ground and said such a move would violate his right to free speech.

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2023-09-25 09:12:13 Coinbase Makes Move In Spain, Unleashing Crypto Services In A New Booming Market

Coinbase, a prominent cryptocurrency exchange, and custodial wallet provider, has secured registration with the Bank of Spain, paving the way for a broader array of crypto services in the Spanish market. As a result of this milestone, users in Spain will now enjoy access to various services, including custody of crypto assets, the ability to buy or sell cryptocurrencies with legal tender, and the opportunity to trade crypto assets against other digital currencies.

This move comes at a time when 29% of Spanish adults believe that cryptocurrencies represent the future of finance, with digital currencies surpassing bank transfers as the second most popular payment method in Spain. Furthermore, the country has witnessed a surge in blockchain-related startups, reflecting a growing demand for blockchain skills and technologies. Coinbase’s interest in acquiring FTX Europe, the European subsidiary of the defunct FTX exchange, also made headlines recently. This strategic move is part of Coinbase’s broader plan to establish a stronger presence in the global crypto derivatives market.

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2023-09-24 21:38:21 Bitcoin mining machines, rocket launchers seized in Venezuela prison raid: report

Venezuelan authorities unveiled a cache of Bitcoin mining machines yesterday among an arsenal of heavy weaponry, including rocket launchers and grenades, seized from the Tocoron prison. Over 11,000 police and soldiers, supported by tanks and armored vehicles, stormed the prison, capturing the Bitcoin machines and weaponry from the Tren de Aragua gang, which had used the prison as its Latin American headquarters for years, AFP reported.

Bitcoin mining is popular in Venezuela given the country's struggles with hyperinflation, combined with the near-zero cost of power in its heavily subsidized electricity market, making operations more profitable than the global average. Bitcoin mining is the process through which new coins are introduced into circulation and plays a crucial role in maintaining the network's security. Miners use sophisticated computers, known as ASICs (Application-Specific Integrated Circuits), to solve complex computational math problems as part of Bitcoin's proof-of-work consensus algorithm.

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2023-09-23 20:13:11 Binance And CEO Changpeng Zhao Officially File To Dismiss SEC Lawsuit

Binance and CEO Changpeng Zhao have formally requested the dismissal of a lawsuit brought against them by the United States Securities and Exchange Commission (SEC). In a recent filing to the United States District Court, both Binance Holdings and Zhao contended that the SEC had overstepped its regulatory boundaries. Their legal team argued that the SEC’s attempt to exert control over the cryptocurrency industry misrepresented the securities laws’ true intent.

The filing read, “In attempting to claim regulatory power over the crypto industry, the SEC distorts the text of the securities laws.” Additionally, Binance.US, the American branch of the crypto exchange, filed a separate 56-page motion on the same day, seeking dismissal of the charges levied against it. The SEC had alleged that Binance.US had misled investors regarding market manipulation prevention and facilitated wash trading through an undisclosed “market-making” trading firm, Sigma Chain, owned by CZ Zhao. Wash trading, according to securities laws, necessitates fraudulent intent to manipulate the market. The legal documents presented by Binance and Zhao asserted that the SEC’s allegations lacked substantial supporting evidence and were sensationalized. They urged the court to dismiss the complaint.

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2023-09-21 08:51:29 CoinEx Plans To Resume Deposit And Withdrawal Services Of BTC On Sep 21st

CoinEx exchange will complete wallet system reconstruction by September 21, 2023, enabling deposit and withdrawal services for popular crypto. Users must use new deposit addresses to avoid permanent loss of assets. CoinEx exchange has announced that it expects to complete the reconstruction and deployment of its wallet system by September 21, 2023. This will enable the resumption of deposit and withdrawal services for a range of popular cryptocurrencies, including BTC, ETH, USDT, USDC, TRX, LTC, BCH, DOGE, SHIB, and BNB.

In a notice to users, CoinEx emphasized the importance of the upgrade and urged users not to use any old deposit addresses. New deposit addresses will be generated for all users, and assets sent to old addresses will be permanently lost. Users are advised to double-check that they are using the new address before making any deposits. During the upgrade process, there may be a temporary delay in processing withdrawal requests. CoinEx assures users that the new wallet system is stable and that withdrawal services will gradually resume for more assets. Users are encouraged to stay updated with official announcements for the latest progress. Temporary withdrawal delays expected during the upgrade process.

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2023-09-19 14:27:39 CoinEx Determined The Strategy To Resume Withdrawal

CoinEx has announced significant progress in its ongoing efforts to recover from a recent cyberattack. The crypto exchange confirmed that it has successfully completed 50% of its wallet system reconstruction and is now prepared to implement a strategy to resume withdrawals. The team at CoinEx has outlined a plan to gradually restore withdrawal services within a span of 7 working days. Emphasizing the paramount importance of safeguarding users’ assets, the exchange is determined to ensure 100% asset safety before reactivating withdrawal functionality.

In response to the challenges posed by certain cryptocurrencies with lower circulation, CoinEx is also in the process of formulating compensation strategies. The recent security breach, attributed to North Korean hackers, resulted in the theft of approximately $70 million in funds, an amount higher than initially reported. However, the exchange reassured its users that the stolen funds represent only a fraction of its total assets. In a candid open letter dated September 15, CoinEx acknowledged the incident as a crucial lesson in fortifying asset security. The exchange extended an invitation to the hackers, offering a “generous bug bounty” in exchange for the return of stolen assets and expressing a willingness to collaborate with them on future security upgrades.

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2023-09-18 23:31:14 Binance US CEO Is ‘Taking Deserved Break,’ CZ Seeks to Downplay Executive Exodus

Binance founder and CEO Changpeng Zhao (CZ) took to X, formerly Twitter, to address “some speculation regarding recent management changes” at Binance’s branch in the United States. His tweet follows news that the Miami-based entity’s chief executive is leaving. “Brian Shroder is taking a deserved break after accomplishing what he set out to do when he joined two years ago. Under his leadership, Binance US raised capital, improved its product and service offerings, solidified internal processes, and gained significant market share.

While expressing gratitude for Shroder’s contributions, Zhao explained that the crypto market is now in a different place than two years ago, when he joined Binance’s U.S. arm. He made a reference to the “rapidly evolving and increasingly hostile regulatory environment,”. Reed is an interim appointment, according to a company spokesperson who gave no specific reason for Shroder’s departure when announcing it this week. However, the shift comes amid increased regulatory pressure on Binance US which has resulted in shrinking market share and significant layoffs. After Brian Shroder, two other executives also left – the exchange’s Head of Legal Krishna Juvvadi and its Chief Risk Officer Sidney Majalya.

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2023-09-17 18:40:52 FTX Customers Face Deadline Amid Bankruptcy Concerns

The FTX Official Committee of Unsecured Creditors has issued a reminder regarding the upcoming deadline for FTX customers to submit their proof of claim, which is set for September 30, 2023. To be eligible, all “Customer Claims” must be filed before the Customer Bar Date, regardless of the user’s KYC status. The submission cutoff time is 4 p.m. Eastern Time. In June, the committee initially announced September 29, 2023, as the deadline for customer claims. To facilitate the process, FTX Debtors introduced an online claims portal.

Notably, the official creditor committee previously expressed concerns about the bankruptcy proceedings, stating that the current plan could lead to increased costs and delays. Despite their requests and prior commitments from FTX, they claimed to have had no discussions with the company regarding their draft Chapter 11 plan. The UCC warned that if their concerns continued to be ignored, they would present their own plan for FTX customers to vote on. The disputed amount has decreased from an initial $3.9 billion to $2 billion. This development has garnered attention, especially considering the ongoing Department of Justice investigation involving DCG and Genesis.

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