National Stock Exchange of Australia Plans DLT Platform to Compete with ASX

Australia’s primary stock exchange could soon have a new blockchain-based rival. National Stock Exchange of Australia owner NSX Ltd. and financial institution iSignthis (ISX), both publicly listed companies, announced Thursday that they are forming joint venture to offer a digital securities trading platform. Called ClearPay, the new entity will offer a platform will be based on distributed ledger technology (DLT) and provide same day, delivery versus payment (DVP) settlement. iSignthis will integrate its “know your customer’s customer” security and other solutions with the platform.  The firms said they intend for…

Chainlink’s Sergey Nazarov on What DeFi Can Learn From Early Exchange Hacks

Sergey Nazarov joins today’s episode of The Breakdown to discuss the role of price oracles in the recent DeFi attacks, plus what DeFi can learn from early exchange hacks. The DeFi world continues to dissect the recent attacks on bZx. To most, the amount lost in the attacks is far less relevant than what the attacks suggest about how DeFi applications need to be designed.  Within that, one key topic of conversation is the role of price oracles – the systems by which DeFi applications check the prices of assets…

Blockstation Builds Disclosure Tool for Security Token Issuers on Jamaica Stock Exchange

Blockstation, a Canadian digital asset trading systems firm, has built a fast-track disclosure filing process for companies hoping to list security tokens on the Jamaican Stock Exchange (JSE). Announced Tuesday alongside JSE’s launch of a tokenized Initial Public Offering (IPO) platform, Blockstation’s new tool, called the Smart Listing Accelerator Process (SLAP), is designed to streamline the filing of required regulatory disclosures and prospectuses, said CTO and co-founder Jai Waterman. Waterman said SLAP “lowers the barrier to entry” for companies that want security token offerings (STOs) but do not know how to…

Crypto Exchange Binance Suspends Trading Over ‘Systems Messaging Error’

Binance, the world’s largest cryptocurrency exchange by trading volume, suspended trading on Wednesday, alerting users of an outage due to “temporary system maintenance.”  The exchange has suspended deposits, withdrawals, spot trading, margin trading, person-to-person trading, lending, redemption and asset transfers from sub-accounts, margin accounts, futures accounts and wallets that hold government-issued or “fiat” currencies, according to a notice posted on the company’s website.  Futures trading is unaffected, the exchange said.  Josh Goodbody, Binance’s London-based director for growth and international business, told CoinDesk in a series of WhatsApp messages there was…

UK Crypto Exchange Coinfloor Launches ‘No BS’ Service for Bitcoin Beginners

U.K-based crypto exchange Coinfloor, which made news last year by delisting ethereum to focus solely on bitcoin, is launching a simplified buying service. Going live next month, Coinfloor, the longest-running crypto exchange in the U.K., is providing an “Auto Buy” service aimed at bitcoin newbies and hodlers alike, as opposed to sophisticated trading types. It’s all part of Coinfloor’s “no BS” approach to crypto, said CEO Obi Nwosu, who wants to educate new users, as well as offer full transparency in the form of monthly proof-of-custody audits of all the…

Chinese Exchange FCoin Closes Down, Still Owes Users $125 Million

Zhang Jian, founder of Chinese crypto exchange Fcoin, revealed in a post earlier today that FCoin may not be able to pay the 7,000-13,000 BTC (that’s $67 million to $125 million) that it owes users.  According to Zhang, the exchange hasn’t been hacked and isn’t an exit scam. But evidence suggests it might be exactly that.  Zhang claims that the shutdown is the result of a series of internal data errors and decisions that are too complicated to explain:  “This is a problem that is a little too complicated to…

Binance Cloud to Allow Users to Launch a Crypto Exchange Within 5 Days

Binance’s newly released Binance Cloud platform might be somewhat different from what the crypto industry expects the new feature to be. After Binance founder and CEO Changpeng Zhao (CZ) first hinted at the introduction of Binance Cloud on Feb. 8, the new service has been officially released on Feb. 17, targeting users willing to set up crypto exchanges, according to a blog post by Binance. All-in-one infrastructure for launching a crypto exchange According to the announcement, Binance Cloud will serve as an all-in-one infrastructure platform for customers and partners to…

China Sees Red: FCoin Transaction Fee Costs the Exchange Millions

Chinese exchange FCoin today announced insolvency following internal “technical difficulties.” The platform’s founder has already announced a new project to help pay back the multi-million dollar capital reserve. “The Route to Hell Is Paved with Goodwill” So reads the first line of an ominous Reddit post from FCoin’s founder on Feb. 17. The announcement from Jian Zhang, formerly the CTO of Huobi, indicated that it would not be able to process user withdrawals because the exchange had become insolvent.  He wrote:  “It is expected that the scale of non-payment is…

Derivatives Exchange Deribit Launches Daily Ether Options

Panama-based cryptocurrency derivatives exchange Deribit has listed daily options on ether (ETH). The platform announced the news on Twitter on Monday. The new product will have strike price intervals of $5 and can be traded in the 24 hours preceding the expiry at 08:00 UTC every day. They will have a lifetime of two trading days at the time of introduction. From Feb. 19, the exchange will also be reducing the tick size for all ether options from the current 0.001 ETH to 0.0005 ETH, Deribit CMO Andras Caron said.…

Crypto Exchange FCoin Insolvent After Revealing Up to $130M Bitcoin Shortfall

FCoin, a crypto exchange that adopted the controversial “trans-fee mining” model, has paused trading and withdrawal as it reveals a shortage of crypto assets worth up to $130 million. Zhang Jian, the former Huobi CTO who launched FCoin in May 2018, wrote a lengthy post on Monday, saying the exchange is now unable to process users’ withdrawal demands as its asset reserve has fallen short of its liability – and the gap is estimated to be about 7,000 to 13,000 bitcoin. The post, first published in Chinese and later translated on…