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SEC-approved LTSE stock exchange could link crypto firms and the capital of traditional investors. One of the most significant introductions that blockchain has made available in recent years is adding new tools through which companies can raise capital. The technology has made it possible to raise funds for a project from investors of just about any pocket size through initial coin offerings (ICOs) as well as security token offerings (STOs). Typically, these investors put in their money not just in return for a big payday, but they’re usually believers in the project as well. These investors form the community around which new projects are built. This is the concept that popularized the colloquial term “hodl” in the crypto world. This is usually not the case in the traditional investment sphere. Long-Term Stock Exchange (LTSE), which recently got approval from the United States Securities and Exchange Commission (SEC) to launch a new stock exchange, could soon make it possible for co..
The Bitfinex cryptocurrency exchange has announced the launch date for its exchange utility token. Major cryptocurrency exchange Bitfinex has unveiled its exchange utility token UNUS SED LEO, in a press release on May 17. The token will be useable for a variety of exchange-based activities and will begin trading on Bitfinex on May 20 against tether (USDT), bitcoin (BTC), ether (ETH), U.S. dollars and EOS pairs. The whitepaper for the project, published on May 10, describes LEO as “a utility token at the heart of the iFinex ecosystem.” iFinex is the parent company of Bitfinex. iFinex purports that it provides a stronger and more independent infrastructure, having migrated from Amazon Web Services to a self-designed data center. Bitfinex reportedly raised 1 billion tether (USDT) worth of U.S. dollars, bitcoin and tether for the token during its initial exchange offering. As recently reported by Cointelegraph, the New York Supreme Court recently allowed Bitfinex and associated stablecoin..
Latin America-based cryptocurrency startup Ripio has launched a trading platform, including an over-the-counter desk. Latin America-based cryptocurrency startup Ripio has launched a trading platform, including an over the counter (OTC) desk, according to a press release shared with Cointelegraph on May 16. Ripio’s newly launched platform will enable its customers in Brazil, Argentina, and Mexico to trade cryptocurrency to fiat, use digital banking services, and request blockchain-based loans. The product also includes an OTC desk for institutional investors. Commenting on the product roll out, Ripio’s founder and CEO Sebastian Serrano said that “cryptocurrency, and our new platform in particular, offers brand-new investment horizons for all segments of the population. This is especially important in Latin America, where savings must be protected against the constant devaluation of local currency.” Founded in 2013, Ripio claims to be the largest digital asset company in Argentina, with..
Hong Kong cryptocurrency derivatives trading platform BitMEX claims that on average, its users don’t use the maximum 100x leverage. Hong Kong cryptocurrency derivatives trading platform BitMEX claims that on average, its users don’t use the maximum 100x leverage that the platform offers. BitMEX reported on the data in a post published on its official blog on May 15. According to the post, the company’s co-founder and CEO Arthur Hayes had the data science team of the exchange pull up historical data on the average leverage usage for the bitcoin (BTC)/United States dollar perpetual swap. Hayes stated that the data obtained this way show that “traders are quite ‘responsible’ in that they do not on average use the maximum amount of leverage.” Data shows that the monthly weighted average effective leverage on the bitcoin perpetual swap in May 2018 is 29x on long positions and 26x on short positions. In April 2019, the monthly weighted average effective leverage on the same contract was rep..
A major crypto exchange in South Korea has shut down, showing the intensity of the brutal 16-month bear market that caused a wide range of issues for crypto businesses. The shutdown of Coinnest on April 18, one of the major crypto exchanges in South Korea, showcased the intense brutality of the 16-month bear market, which came crashing down as soon as bitcoin achieved an all-time high at a price of $20,000. While not many major crypto exchanges have closed their operations in the past year, most exchanges — with the exception of some platforms considered to have real daily volumes by Bitwise Asset Management — have struggled to maintain a stable inflow of revenue. The bear market was particularly difficult for small exchanges that are known to strategically inflate their volumes to appeal to users on leading market data platforms like CoinMarketCap. Profit margins sharply dropped due to an overall drop in daily volumes for smaller exchanges such as Korbit in South Korea, creating a di..
Crypto exchange Seed CX has announced support for stablecoins Paxos, USD Coin, and TrueUSD, which are currently pegged to U.S. dollars. Chicago-based crypto exchange Seed CX has announced support for stablecoins Paxos (PAX), USD Coin (USDC), and TrueUSD (TUSD) in a press release on May 14. The new stablecoin additions can be traded for U.S. dollars starting May 17, and the exchange is aiming to roll out trading pairs between the stablecoins and other fiat currencies such as the euro in the near future. Seed CX CEO Edward Woodford commented on the impetus to add stablecoin options: “Stablecoins are important in the ecosystem as they increase the velocity of movement of fiat equivalent assets 24/7 and had been requested by a number of our trading participants.” For margin trading, the press release states that these three stablecoins can be used as collateral with a minimum holding requirement of 10%, which allows investors to trade up to 1,000% of the value for their current stablecoin..
Dunamu gave funding to 26 blockchain startups as part of a multi-year investment roadmap. The parent company of South Korean cryptocurrency exchange Upbit has invested almost $50 million in blockchain startups since March 2018, English-language Korean business news outlet The Investor reported on May 15. Dunamu, which created a dedicated investment subsidiary, Dunamu & Partners, at the same time last year, has given cash to a total of 26 businesses. In total — under plans it announced previously — the company aims to invest 100 billion won ($84 million) into the industry. “Our goal is to contribute to the healthy growth of the blockchain ecosystem by actively investing in startups with world-class technology and services with potential for real-life implementation,” The Investor quotes Ryan Lee, CEO of Dunamu & Partners, as saying. He continues: “Dunamu and Dunamu & Partners’ strategy of identifying and investing in innovative tech and finance startups, regardless of size, stage and ..
Hacked New Zealand-based cryptocurrency exchange Cryptopia has gone into liquidation and suspended trading services. Hacked New Zealand-based cryptocurrency exchange Cryptopia has appointed David Ruscoe and Russell Moore from consultancy and audit firm network Grant Thornton New Zealand as liquidators. The news was revealed in an official Grant Thornthon announcement on May 15. Grant Thornton New Zealand (NZ) is the local network of Grant Thornton International — a major professional services network of independent accounting and consulting member firms. As Cointelegraph has reported in mid-January of this year, Cryptopia revealed that it had been the target of a security breach resulting in significant losses, with the attack continuing for two weeks after its initial detection until the exchange managed to regain control of its wallets. According to Grant Thornton NZ, Cryptopia has decided to go into liquidation as it has been unable to return the business to profitability, notwiths..
Blockchain based telecommunications service, Miracle Tele, is ending its ongoing crowdsale on May 15th, 2019. This early move, according to an official statement, is a direct result of having successfully raised over $15,500,000 from the sales of an estimated 50,000,000 TELE tokens. Following this achievement, TELE tokens will hit Exchanges towards the end of May. The Czech platform has pegged the successful crowd sale to its innovative and unprecedented telecommunications solution built on blockchain technology, which has been widely acclaimed by TELE holders. Since Inception in 2018, Miracle Tele has quickly proved its capability to deliver fast and robust services, while steadily giving back to the community via dividends. Through the immutable power of blockchain technology, Miracle Tele is able to distribute 40% of its bi-weekly proﬁts to TELE token holders. As an already working platform, Miracle Tele has an edge over other blockchain services and has proven its reliability wit..
sponsored A new cryptocurrency exchange platform allows users to trade by themselves and to copy strategies of the best performers on its interconnected social investing platform. Hamburg-based fintech company Naga has released its new exchange platform, Nagax, after an intensive beta testing period. The developer promises a user-friendly interface and “super-fast execution,” as the system supports more than 10 million transactions per second. The new platform is integrated into the social investing network — also known as Naga Trader. According to the company, it is used by more than half a million traders around the world. Nagax will be connected to the Naga platform through its own cryptocurrency wallet, the Naga Wallet: It supports major crypto, all ERC-20 tokens, as well company's native currency — the Naga Coin (NGC) — and allows users to send coins and tokens directly to their contacts via their email address. The company says it will provide zero fees for the first three..