CRYPTOCURRENCY EXCHANGE
An exchange that allows users to process cryptocurrency and cryptocurrency-related instruments transactions, such as buying, selling, depositing, and withdrawing their assets. There are usually two main types of exchanges available at present, one type that allows users to exchange their fiat currencies for cryptocurrencies and another that only allows users to exchange cryptocurrencies with other cryptocurrencies. Exchanges can also be either centralized or decentralized, depending on the custody and the amount of control the operator of the exchange can exercise on the transactions.
Global Cryptocurrency Exchange Platform Market to Hit $110.12 Billion by 2028
The global cryptocurrency exchange platform market is expected to grow from $45 billion in 2023 to $110.12 billion by 2028, driven by increased demand from crypto gaming and the rise of PlayToEarn games. Blockchain technology's decentralized nature is also gaining traction in decentralized finance platforms and smart contracts. The market is competitive, with North America leading, Europe, APAC, Latin America, and the Middle East & Africa being key growth areas.
OKX Discloses Monthly Proof of Reserves, Holding $10.4 Billion in BTC, ETH, and USDT
OKX, a global cryptocurrency exchange, has reported a $10.4 billion holding in primary assets like Bitcoin, Ethereum, and Tether, with 84% of respondents praising the exchange's transparency and reserve ratios.
Cryptocurrency Exchange Upbit's Operator Dunamu Announces Q2 2023 Net Profit of KRW 108 Billion
The latest quarterly report from Dunamu, the operator of cryptocurrency exchange Upbit, shows a net profit of KRW 108 billion in Q2 2023, a significant improvement from the previous year's net loss of KRW 37.8 billion. The company's revenue fell 47.9% from Q2 2022, but net profit remained positive.
Binance's Success Rooted in External Pressure, Reveals CEO
In a recent tweet, Changpeng Zhao (CZ), the CEO of Binance, the world's largest cryptocurrency exchange by trading volume, shared his insights on building strong teams and the role of external pressure in the company's success.
Binance.US Refutes SEC's Attempted Asset Freeze, Vows to Defend Itself in Court
In a recent update, Binance.US, the American affiliate of leading cryptocurrency exchange Binance, provided an encouraging development in its ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC).
Binance Adds Bitcoin Ordinals to NFT Marketplace
Binance has announced that it will soon support Bitcoin ordinals, also known as Bitcoin NFTs, on its NFT marketplace. This will expand Binance’s multichain NFT ecosystem to include the Bitcoin network. Bitcoin ordinals have been on the rise, with over 3 million inscriptions as of May 1, but they remain a controversial topic in the crypto community.
Hong Kong to Release Cryptocurrency Exchange Licensing Guidelines
The Hong Kong Securities Futures Commission (SFC) plans to release guidelines for cryptocurrency exchange licensing next month, in support of trading services to retail investors by June 1. AML/KYC regulatory requirements were key considerations in the consultation process. Some trading platforms have already received licenses, while others have chosen to cease operations.
Bitget Pledges $10 Million for Fetch.ai Ecosystem
Bitget, a cryptocurrency derivatives exchange, has pledged $10 million towards the development of the Fetch.ai ecosystem. Fetch.ai provides infrastructure for autonomous services and features an AI agent network and smart wallet.
Zipmex Requests Moratorium Extension in Singapore
Cryptocurrency exchange Zipmex has requested an extension of its moratorium on debt in Singapore due to liquidity issues. The company plans to use the extra time to reopen withdrawals on its Z Wallet platform.
Winklevoss Twins Fund Gemini Amid Crypto Downturn
Gemini co-founders Tyler and Cameron Winklevoss have reportedly loaned their own money to fund the cryptocurrency exchange during the market downturn, which comes as the exchange faces scrutiny from regulators.