Cryptocurrency exchange Bittrex has announced it will be winding down its operations in the United States due to the challenging regulatory and economic environment. The announcement was made on the platform’s ninth anniversary, marking a bittersweet moment for the company. Due to continued regulatory uncertainty, we have made the difficult decision to wind down our U.S. operations, effective April 30, 2023.…
The organization following the launch of the Central African Republic’s Sango Coin has announced a delay of its listing “just for a few weeks,” citing legal and regulatory obstacles. In a March 31 message on its Telegram channel, the Sango Project said the government of the Central African Republic, or CAR, had made “significant progress” in establishing laws and regulations…
The National Futures Association (NFA), the United States self-regulatory organization for derivatives markets, has issued a new compliance rule addressing members’ conduct. The new rule complements requirements issued in 2018. The NFA has “well over 100” members that engage in activities with digital asset commodities, but no way to address fraud or misconduct committed by those members, the organization explained…
In March 2023, Bitcoin’s average and median-sized fees jumped more than 40% higher after rising 122% in 10 days during the first week of February. The fees have followed the Ordinal inscription trend as more than 662,000 inscriptions reside on the Bitcoin blockchain, and 150 bitcoin worth $4.2 million have been added to fees. Bitcoin Fees Surge in March, More…
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The ongoing downturn in the crypto market hasn’t stopped European venture capital (VC) firms from investing in DeFi projects. A new report revealed that European DeFi startups saw a 120% increase in VC funding…
Regulators in the United States have a fresh target on their radar: Binance. The Commodity Futures Trading Commission (CFTC) has sued the world’s biggest crypto exchange by trading volume for regulatory violations. Accusations range from insider trading to concealing office locations around the world to evade authorities’ oversight. Binance denies the claims, suggesting another court battle between crypto firms and…
Since May 2022, the Bitcoin (BTC) margin markets on the Bitfinex exchange have been plagued by an unusually high open interest of over $2.7 billion. This information alone should raise a red flag, especially in light of Bitcoin’s price decline from $39,000 to less than $25,000 during the same period. Traders seeking to leverage their cryptocurrency position had borrowed over…
American cryptocurrency exchange Bittrex today announced that it would wind down its U.S. operations. In a Friday statement, the exchange said that customer funds were safe and should be withdrawn by April 30, while trading will continue for clients until April 14. The statement added that it would continue operating its Bittrex Global platform—which caters to traders outside of the…
Crypto hackers and scammers made off with $452 million in the first quarter of 2023, according to a report released by antivirus and app provider De.Fi. But that is good and bad news, as losses were down from $1.3 billion in the first quarter of 2022. The recovery rate was down too, however. According to the report, nearly half of…
Tron founder and Huobi adviser Justin Sun didn’t seem to want anyone to know he’s had to add an extra “ex” to “his excellency,” an honorific that he’s been proudly using for over a year. The Granada Government named Sun as its ambassador and permanent trade representative to the World Trade Organization in December 2021. But only seven months later,…
