Huobi crypto exchange launches trading app in Russia

Major cryptocurrency exchange Huobi Global is expanding in Russia by rolling out its native mobile app in the country. Users in Russia can now access Huobi’s spot market and trade major cryptocurrencies like Bitcoin (BTC) through its mobile app, the firm announced on Sept. 23. By introducing the app in Russia, Huobi wants to further expand in one of its most important markets. Russian users account for as much as 10% of Huobi’s total spot trading volume, an exchange representative told Cointelegraph. Ciara Sun, vice president of global markets at…

After Two Police Raids, Bitcoin Exchange Bithumb Up for Sale

Key Takeaways The biggest South Korean crypto exchange is up for sale. An unknown number of buyers have made offers in the range of $430 to $600 million. The buyer will be responsible for implementing the Special Payments Act. Share this article Bithumb, the largest cryptocurrency exchange in South Korea, is allegedly up for sale to the highest bidder, according to the South Korean news outlet Herald. Responsible for more than 50% of the domestic trading volume with 4.77 million users, Bithumb is considered the primary driver of cryptocurrency trading…

Crypto​.com reverses ‘illegitimate trades’ amid prolonged downtime for the exchange

A database issue has led to prolonged downtime for the Crypto​.com exchange. According to a series of tweets published by platform’s CEO, Kris Marszalek, the exact cause of these issues remains unknown. Marszalek did confirm, however, that some users had taken advantage of the situation by manipulating the ETH/USDT price prior to the outage. These users locked in gains by selling other crypto “en masse”, allowing them to conduct what the CEO referred to as “illegitimate trades.” After discovering the situation, the company placed its services into offline mode. Attempts…

Canada’s first regulated crypto exchange Wealthsimple Crypto goes live

Wealthsimple Crypto, the first regulated cryptocurrency exchange in Canada, is rolling out its trading platform to the public today. Starting from Sept. 22, users in all 13 provinces and territories in Canada will be able to sign up for the new product and start trading cryptocurrencies. At the launch, Wealthsimple Crypto will allow users to buy and sell Bitcoin (BTC) and Ether (ETH) through the platform’s mobile app. Deposits and withdrawals can only be made in Canadian dollars, The public launch of Wealthsimple Crypto comes shortly after the company received…

Indian police begin probe into alleged $270K cryptocurrency exchange scam

The operator of Delhi-based cryptocurrency platform Pluto Exchange is accused of duping 43 investors of more than $272,000. A local news outlet Millennium Post reported that the Economic Offence Wing of the Delhi Police has launched a probe against the operators of the Pluto Exchange after 43 investors filed a complaint with the EOW. Bharat Verma, the founder of Pluto Exchange, and others involved in the investment scheme allegedly lured investors by saying they were running crypto trading and cryptocurrency mining operations under the company “F2poolminin.” Joginder Kumar, one of…

“Intense” Bitcoin Whale Exchange Flow Could Be Behind Weekend Crash

Bitcoin went into the weekend on a strong note, taking out $11,000 and holding above it. But after the cryptocurrency made an attempt at $11,200 a rejection has the asset’s price back to $10,500 where its now at risk of a steeper correction. Blockchain data shows that the weekend crash could have been driven by whales offloading their BTC. But why did the flow of “whale” funds suddenly get so “intense” and what does this say about how deep the correction goes? Live From Saturday Night! Weekend Bitcoin Price Pump…

INX exchange taps Israeli crypto startup GK8 for crypto custody

INX, a cryptocurrency firm holding the first-ever token initial public offering, or IPO, approved by the Securities and Exchange Commission, or SEC, has chosen a digital asset custody provider. According to a Sept. 16 announcement, INX has enlisted Israeli crypto startup GK8 for digital asset custody on its upcoming crypto exchange. INX tweeted that the platform will use GK8’s end-to-end platform for managing and safeguarding digital assets. The platform includes GK8’s patented “air-gapped vault that can create, sign, and send blockchain transactions while staying 100% offline,” INX noted. Based in Gibraltar,…

Phemex Exchange Meets DeFi Bulls, Launches Perpetual Contracts for YFI and LEND

Share this article Cryptocurrency and derivatives exchange Phemex has listed seven new perpetual contract trading pairs: ADA/USD, ALGO/USD, COMP/USD, DOT/USD, LEND/USD, YFI/USD, BCH/USD.  Each pair is a linear contract quoted and settled in USD that can be traded with up 20x leverage. Six of these coins are exciting DeFi projects carefully selected by the Phemex team. These will allow Phemex users to participate in the increasingly dominant DeFi space. As with all of its perpetual contracts, the exchange charges market takers a 0.075% fee, while market makers receive a 0.025%…

Kraken Becomes the First Crypto Exchange to Obtain Banking Charter

Kraken has obtained the approval to conduct many traditional banking services alongside operating as a crypto exchange. Wyoming has granted the license under Special Purpose Depository Institution (SPDI), specially formulated for cryptocurrency businesses.  Kraken Customers to Enjoy Special Privileges  Wyoming is the only American state to include the SPDI charter in its banking laws. An SPDI is a specialized custody bank that can perform all activities of a bank, except for making loans from customer deposits.  The SPDI banks are required to maintain a 100% reserve of their FIAT deposits. …

Italian soccer club SS Lazio goes crypto with StormGain exchange

Another major soccer club is entering the cryptocurrency industry by tapping a partnership with a cryptocurrency exchange. SS Lazio, an Italian professional sports club, signed a multi-year deal with crypto trading platform StormGain. Announcing the news on Sept. 16, StormGain said that it is now the “official crypto trading partner” of SS Lazio. According to the firm, the newly announced deal will enable StormGain and Lazio to boost fan engagement through unique giveaways like exclusive VIP suite hospitality at Lazio home matches. As part of the initiative, StormGain will be…