Crypto Mountains

2023-03-20 23:00:00 ​OKX to cease operations in Canada by June 22 2023.

"Withdrawals from OKX will continue to be available," wrote the OKX team in an email to users. ͏ ͏ ͏ ͏

On Mar. 20, cryptocurrency exchange OKX informed Canadian users via email the firm "will no longer provide services or allow users to open new accounts in Canada starting on Mar. 24, 2023, 12:00 AM EST," citing "new regulations." According to OKX, existing Canadian customers must close open positions in options, margins, perpetual, and futures by June 22, 2023. Fiat or tokens must also be withdrawn by the said date.

"Your funds will remain safe in your account until you withdraw them. You will be able to withdraw dollars to your linked bank account and cryptocurrency to your self-custody wallet or your cryptocurrency account on another exchange. "

OKX says its withdrawal from Canada is "temporary," and the exchange is working with regulators to solve this issue. "We hope to see you again in the future. Stay tuned," wrote OKX staff. Previously, cryptocurrency exchange Bittrex Global off-boarded Canadian users on July 29, 2022, after giving advance notice, which, too, cited regulatory developments as reasons for leaving the country.

On Feb. 22, the Canadian Securities Administrators (CSA) published a notice requiring crypto exchanges to sign new, legally-binding undertakings while they await registration with the regulatory. Among many items, the new undertaking prohibits "buying or depositing Value Referenced Crypto Assets (commonly referred to as stablecoins) through crypto contracts without the prior written consent of the CSA." Although it appears stablecoin USD Coin (USDC) has not been affected by the ruling.

Currently, all cryptocurrency exchanges must register with Canadian regulators before onboarding users in the country. On June 22, 2022, cryptocurrency exchanges ByBit and KuCoin were issued millions of dollars in fines after the Ontario Securities Comission determined that determined both were operating as "non-compliant platforms" in the country. Open / Comment

2023-03-19 22:30:00 Complaining about "Crypto Winter"?

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2023-03-17 23:00:02 ​Coinbase is planning to set up crypto trading platform outside US.

The reported move came amid many U.S. lawmakers and regulators taking aim at crypto firms for their perceived role in the failure of three major banks.

Cryptocurrency exchange Coinbase is reportedly planning to set up a crypto trading platform outside the United States, where it is currently headquartered.

According to a March 17 Bloomberg report, Coinbase discussed setting up the non-U.S. platform with some of its institutional clients. The reported move came amid many U.S. lawmakers and regulators taking aim at crypto firms for their perceived role in the failure of Silvergate Bank, Silicon Valley Bank, and Signature Bank.

U.S. regulators including the Securities and Exchange Commission have been cracking down on certain crypto companies in recent months, including Kraken for its U.S. staking services. Coinbase issued a notice to users in March that its staking program would continue despite the crackdown and “may actually increase.”

The new Coinbase venture would reportedly service global clients, but does not yet have a confirmed location. Cointelegraph reached out to Coinbase, but did not receive a response at the time of publication. Open / Comment

2023-03-14 22:30:00 ​Tassat blockchain to join FedNow service with B2B onramp as pilot prepares for launch.

The New York-based fintech said it will provide an API to allow clients to access the new Federal Reserve real-time payment service when it premiers.

Blockchain operator Tassat announced March 14 that it will provide access to the United States Federal Reserve’s FedNow payment system. FedNow, which will launch as a pilot project later this year, will provide real-time, round-the-clock payment service.

Tassat will serve as a business-to-business onramp for FedNow through a client-facing application programming interface (API), CEO Kevin Greene told Cointelegraph. Both the company’s interbank and intrabank services will provide FedNow access.

The FedNow pilot is expected to begin in June or July with a small number of banks. The system will offer real-time gross settlement by funneling commercial bank money from a sender through a Fed credit account to its recipient. It is often seen as a non-blockchain alternative to central bank digital currency (CBDC) and to stablecoin.

FedNow will initially be available only for domestic transfer, which suited Greene. “We have a lot of work to do here in America,” he said. He referred to the U.S. financial infrastructure as “antiquated.”

Tassat has a pipeline of six banks, which include the recently-shuttered Signature Bank. Greene said of the recent bank closures:

"Recent events have illuminated the existential crisis that small, mid-sized and regional banks face, particularly being squeezed out by the mega banks.”

Blockchain adoption is progressing rapidly in the banking system, according to Greene. “Sixteen months ago, most bank CEOs didn’t know much about blockchain at all,” he said, “and today the feeling is they have to have some kind of blockchain strategy.” Greene Added that Tassat had doubled its number of employees to 90 in the past 12 months.

Greene began as an investor and board member at the company when it was founded in 2017, then moved into the CEO and chairman positions. Open / Comment

2023-03-11 23:00:01 ​Aavegotchi bonding curve closes on exact day of DAI depeg.

The price of GHST was supported by that of DAI stablecoin for over two years.

According to play-to-earn nonfungible tokens (NFT) protocol Aavegotchi on Mar. 11, the entity closed the bonding curve defining the exchange rate between its namesake token (GHST) and the DAI U.S. dollar stablecoin (DAI). The same day, the DAI stablecoin depegged as part of the ongoing USD Coin destabilization, which was, in turn, caused by $3.3 billion in stuck stablecoin collateral deposits owed to its issuer Circle by now-defunct Silicon Valley Bank.

GHST is described as an "entry ticket" into Aavegotchi, where users can use the token to purchase NFT portals, wearables, consumables within the Aavegotchi game, stake to farm rewards, or participate in DAO governance. The Aavegotchi bonding curve was created on Sept. 14, 2020, with an opening price of 0.2 DAI per GHST.

When users purchase GHST via DAI, the bonding curve smart contract, powered by Aragon, ensures new GHST tokens are minted and vice versa. However, when a GHST token is purchased, each subsequent buyer will have to pay a slightly higher price for each token, leading to GHST having a higher market cap than its DAI reserve.

In what was essentially a multi-year token sale, the protocol has received a total of 30.3 million DAI. Developers first proposed in January that the DAI funds should be distributed for protocol liquidity, the Aavegotchi DAO, and its parent Pixelcraft Studios on a 20/40/40 basis.

With the bond curve now removed, the exchange rate of GHST is now free floating and no longer determined by DAI. At the time of publication, the token's value has plunged by 18.09% in the past 24 hours to $1.12 apiece. Meanwhile, the price of DAI stablecoin has fallen 6.76% in the past 24 hours to $0.9314 apiece. Though no longer linked, the proceeds received from the token sale suffered a material loss due to the DAI depegging event. Cointelegraph has reached out to Aavegotchi but did not receive a response by press time. Open / Comment

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2023-03-11 15:00:13 Complaining on "Crypto Winter"?
Nowhere to get X's back? You're missing BIG numbers if you're not in Multimining!

You don't have experience in mining?
No farm with employees to support?

DOESN'T MATTER! You have Liquid Mining App.
Liquid Mining is a network of largest data centers around the world with single goal — make revolution in mining.

How you will do it?
You will mine coins in pre-mine stage before IDO and ICOs when mining rewards are huge in terms of volume of coins per block. Once projects are listed on crypto exchange - you sell and make profit.

The development team behind Liquid Mining was pre-mining:
— Ergo - 631%
— FLUX - 402%
— FIRO - 457%
— TONCOIN - 531%
— Neoxa - 1214%
— Nexa - 318%
— Zano - 264%
— Rvn - 597%
— CFX - 417%
— Kaspa - 837%

With more than 6 years of close work with crypto startups — they know how to choose profitable ones.

The average profit for users is now at 400%+/year!

Telegram | Twitter | Discord | Website Open / Comment

2023-03-10 19:00:19 Cryptomatch.app, evaluated at $10 M, sets a $1 M goal for the seed round

Cryptomatch is a smooth way to join the fast-growing community of blockchain enthusiasts, Web3 founders, investors and all type of professionals from all over the globe. The newcomers are welcomed to expand their network based on their preferences, business goals and the level of expertise they are seeking.

Despite their MVP being launched only few months ago, Cryptomatch has already attracted 4500+ verified users, with over 1500 C-levels and founders among them. The next-gen networking experience is accessible via Cryptomatch Telegram bot, with new business matches offered on a weekly basis.

How does Cryptomatch work

Set up your profile using @cryptomatch_bot. Describe your background and networking preferences. The entire process takes no longer than several minutes.
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2023-03-10 18:00:23 ​S Korean Regulator Launches Crypto Trading Platform Probe

South Korea’s top financial regulator, the Financial Services Commission (FSC), has begun a “comprehensive inspection” of the nation’s crypto exchanges.

Per Decenter, Financial Services Commission (FSC) specifically wants to probe the 20 trading platforms that do not have licenses to trade fiat KRW. The media outlet noted that this is “the first time” the FSC has conducted a “comprehensive inspection” of exchanges that do not operate in the fiat markets.

The outlet said it expected that the inspection will focus on anti-money laundering protocols.

Under South Korean law, exchanges can offer crypto-to-crypto trading services, provided they meet certain criteria. To obtain fiat-trading licenses, however, they must form partnerships with commercial banks.

These banks must provide all exchange users with real name-, social security number-verified accounts linked to their crypto wallets. Open / Comment

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