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Top Cryptocurrency Exchange Binance Converts $1,000,000,000 Secured Asset Fund from Bitcoin and BNB to USDC Stablecoin

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The leading global crypto exchange established the “Secure User Asset Fund” (SAFU) in 2018 to protect Binance users from “extreme situations.” The fund typically tries to maintain a balance of $1 billion, although fluctuating cryptocurrency prices have affected the value of its holdings over the years. At the end of 2022, the fund held $700…

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Massive Money Rush: Crypto Funds Rise with Inflows of Over $500 Million Driven by Bitcoin ETFs

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Crypto investment products have seen a notable increase in investor interest, marking the fourth consecutive week of substantial inflows. According to recent data from CoinShares, these products attracted approximately $598 million in investment in the last week alone. This capital inflow brings year-to-date inflows to $5.7 billion, indicating a sustained appetite for digital assets among…

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Crypto exchanges see Bitcoin deposit boom amid Ethereum withdrawal

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According to recent data, the amount of Bitcoin held on centralized cryptocurrency exchanges increased by 32,058 Bitcoin over the past month. At the same time, Ethereum reserves on these exchanges have decreased as 262,904 Ether worth $597.42 million have been withdrawn from trading platforms since December 4, 2023. Bitcoin Rises as Ethereum Falls in Latest…

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Thai Bank Acquires 97% Stake in Bitcoin and Crypto Exchange

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In a strategic move that solidifies its presence in the cryptocurrency sector, Thailand’s Kasikorn Bank has announced the acquisition of a 97% stake in Satang Corporation Company Limited, the parent company of the Satang cryptocurrency exchange. The deal, valued at 3,705 million Thai baht ($102.8 million), was carried out through a newly formed subsidiary of…

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Binance Crypto Exchange Launches Futures Trading for Ethereum-Based Altcoin Surges Over 50% in a Week

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The world’s largest cryptocurrency exchange by volume is launching futures trading for an Ethereum-based altcoin (ETH) that is up more than 50% in a week. In a new announcement, cryptocurrency exchange Binance says it will launch futures contracts with up to 50x leverage for Powerledger (POWR), a decentralized energy marketplace built on ETH that democratizes…

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Chainalysis lays off more employees in new round of crypto job cuts

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Blockchain forensics firm Chainalysis is laying off part of its workforce, the second time it has done so this year. The news comes during a difficult period for the entire sector, which has seen a series of such moves in 2023, against a backdrop of a persistent bear market and increased regulatory pressure. Cryptanalysis firm…

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US Crypto Exchange Kraken Obtains ‘Historical’ Regulatory Approvals in Europe

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The Kraken cryptocurrency exchange announced new achievements in the implementation of its strategy to seek expansion in the European market. The US digital asset trading platform said it received regulatory approvals from monetary authorities in Ireland and Spain, two of the EU countries with relatively clear rules for the sector. Kraken, Another Major US Crypto…

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Australian banks block payments to ‘high risk’ crypto exchanges

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National Australia Bank joins other major Australian banks in blocking payments to “high-risk” cryptocurrency exchanges to protect customers. The National Australia Bank (NAB) announced on Monday that it had blocked some payments to “high-risk” cryptocurrency exchanges in recent months to protect its customers. The lender said Australians lost an estimated $151 million last year due…

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Gemini Cryptocurrency Exchange Opens European Headquarters in Ireland Amid Growing US Regulatory Uncertainty

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Crypto exchange Gemini has found a new European headquarters as US regulators remain hostile towards the digital asset industry. On Thursday, Cameron Winklevoss, who co-founded the exchange with his twin brother Tyler, announced that his company would establish a regional headquarters in Ireland. “Impressive meeting this morning with Leo Varadkar, the Prime Minister of Ireland….