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2022-11-02 20:40:00 Crypto exchange volumes hit 23-month low

Cryptocurrency exchange volume in October was just $543 billion — down from $733 billion in September — according to The Block's data dashboard. The last time levels were this low was in December 2020, when they came in at $385 billion. (The same month, bitcoin hit multiple new all-time highs, trading above $28,000.). October marked six months since the crypto downturn began and five months since the high-profile TerraUSD collapse. Prices were stagnant for most of the month before rallying last week. Volatility hit its lowest levels since July 2020 in October. North American volumes fell to just over $78 billion.

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2022-11-02 15:15:12 Binance sets up seventh unit in Ireland

Crypto exchange operator Binance set up a seventh unit in Ireland as it continues to expand its roots in Europe. Binance Global Sourcing was established last week, according to records from the Companies Registration Office (CRO), the central repository of public statutory information on Irish companies. The news comes after Binance picked Paris as its European hub after France's financial regulator granted Binance a license to offer and market its services to local customers in May. Last year, Binance considered Ireland as part of its plans to establish a number of headquarters worldwide to break with its "decentralized" structure and improve relations with regulators.

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2022-11-02 11:14:02 MoneyGram app adds bitcoin, ether and litecoin crypto trading tools

MoneyGram, a publicly traded peer-to-pay payments company, has added crypto investment tools to its mobile app as fellow fintech firms bolster offerings in the sector. Available in the majority of U.S. states today, users are now able to buy, sell and hold bitcoin, ether and litecoin, the company said in a statement. The move follows previous forays into crypto by the company, which recently partnered with Stellar to enable payment settlements and local currency payouts using USDC.

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2022-11-02 03:14:02 Stasis integrates euro-backed stablecoin with XRP Ledger

XRP Ledger is an open-source blockchain developed by a community and cross-border payment company Ripple. Stasis aims to make cross-border payments cheaper and faster by integrating the blockchain with EURS, as well as improve scalability. Another brick has just been added into the foundation of EURS, and it will solidify our asset for the next cycle of stablecoin market adoption," Stasis CEO Gregory Klumov said in a statement. "Our ongoing partnership will focus on exploring the newly-emerged opportunities of XRP to enable a better financial inclusion as well as stablecoin infrastructure and services that truly align with the values of the Web3 realm," they continued.

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2022-11-01 21:35:00 Argo Blockchain shares fall 50% as Bitcoin miner faces negative cash flow

Argo previously had plans to raise £24 million ($27 million) via a subscription deal with a strategic investor earlier in October. This deal was in addition to a $5.6 million inventory sale that involved selling 3,843 Bitcoin mining machines for cash. However, the company announced on Monday. With the proposed financing plan falling through, Argo says it is exploring other options. However, the news could have some negative implications for the company in the short term. “Should Argo be unsuccessful in completing any further financing, Argo would become cash flow negative in the near term and would need to curtail or cease operations,” the company stated.

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2022-11-01 15:14:02 Hong Kong issues policy statement on crypto

The Hong Kong government issued a crypto policy statement that clarified its plans to develop “a vibrant sector and ecosystem” for the nascent industry on October 31. The policy statement marks a key change for the government, which had recently revealed intentions to allow retail traders to invest directly in crypto. According to the policy statement, licensed exchanges would operate in compliance with necessary anti-money laundering, counter-terrorist financing (AML/CTF), and investor protection laws. This would allow them “to access a wider net of investors in the Hong Kong market.”.

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2022-11-01 09:14:02 Ripple: SEC Could Face ‘Bruising Defeat’ Against the Fintech Firm, Says Legal Experts

The ongoing battle between fintech firm Ripple and the U.S. Securities and Exchange Commission (SEC) could be coming to a conclusion. However, the regulator’s chances of a victory are growing slimmer according to legal experts. On Oct 30, senior analyst Roslyn Layton told Forbes: “If that’s how it ends, it will have been a self-inflicted disaster from the start.”. Crypto legal experts have hinted that the SEC could be looking at a “bruising defeat” in its case against Ripple. A verdict against the regulator could severely limit its capacity to oversee the regulation of the crypto asset sector. This would be a big win for the industry and innovation in the U.S. Ripple and token holders have been fighting back for almost two years, and their case is strengthening.

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