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Bitfinex CTO Hints at Maximum Leverage for Upcoming Derivatives Trading

Crypto exchange Bitfinex’s chief technology officer, Paolo Ardoino, hinted at the maximum leverage for the exchange’s upcoming derivatives trading. Cryptocurrency exchange Bitfinex CTO Paolo Ardoino hinted at the maximum leverage for the exchange’s upcoming derivatives trading, in a tweet published on June 24. In the tweet, Ardoino purportedly indicated the maximum leverage for Bitfinex’ forthcoming derivatives trading, which resulted in a heated discussion between community members. In response to the answer whether it will be an isolated leverage, Ardoino said that it will be isolated at the beginning, adding that it is better for risk management. Ardoino also revealed that instruments with high leverage will be used separately from the main margin market limited to 3.3x. He stated: “We have quite a steep margin requirement enforcement, with position increases. I'm proud of the result and the protections we have. Of course we'll have to learn also from experience.” Recentl..

First Stablecoin Trading Pairs Listed on Binance DEX

Binance exchange lists two new stablecoin trading pairs USDSB/USDT and USDSB/USDS. Major global crypto exchange Binance has listed trading pairs for USDSB, a Binance Chain-based version of StableUSD (USDS), the firm announced on June 24. As noted in the statement, Binance has launched trading for two trading pairs, including USDSB against major stablecoin tether (USDT), as well as the USDSB-to-USDS trading pair today at 10:00 AM UTC. Derived from StableUSD, a stablecoin pegged 1:1 to the United States dollar and developed by crypto startup Stably, USDSB was issued on Binance’s BEP2 token standard in early June 2019. As previously announced, USDSB has become the first stablecoin to be launched on Binance Chain. According to a blog post by Stably, Binance is also rolling out USDSB trading against Binance Сoin (BNB), Binance’s native ERC-20-based token. The firm added that they are planning to introduce more assets on Binance’s non-custodial trading platform Binance DEX “very soon in the..

Russian Ministry of Finance Considers Allowing Cryptocurrency Trading

The Russian Ministry of Finance considers allowing cryptocurrency trading in the federation. A representative of the Russian Ministry of Finance (MinFin) says the ministry is considering allowing cryptocurrency trading, Russian news service Interfax reported on June 21. Per the report, the Deputy Minister of Finance Alexei Moiseyev told journalists on Friday that, while MinFin had reached no final decision, cryptocurrency trading may be allowed in the coming bill on the circulation of cryptocurrencies in the Russian Federation. A bill prohibiting the use of crypto assets as a means of payment in the Russian Federation passed in May of last year. Anatoly Aksakov, head of the Duma Financial Market Committee, called the pending decision a compromise and pointed out that the Financial Action Task Force recommended that Russia adopt a bill regulating the circulation of cryptocurrencies by the end of this year. As Cointelegraph reported earlier this week, the State Duma, Russia's p..

Feel Lost When Finding Crypto Strategies? One Trading Platform Wants to...

sponsored What if you could copy what other crypto traders are doing? A trading platform notes that, when it comes to investing, many heads are better than one. An internationally focused trading platform says it is offering a social element to finance that has never been seen before — bringing together a strong community who can talk strategy and collaborate to achieve strong results. As well as enabling users to trade some of the world’s top stocks — Netflix, Microsoft, Amazon and Apple among them — eToro also provides access to a wide range of cryptocurrencies. Consumers can buy and sell the likes of bitcoin, ether, bitcoin cash, XRP and litecoin with ease, and receive instant updates when prices begin to fluctuate. Just like social networks that boast news feeds where friends and family post status updates, eToro enables users to write posts and share their opinions about the latest movements in crypto prices. Followers can subsequently like this content and share it if they wish..

QuadrigaCX Co-Founder Used User Deposits for His Own Trading, Created Fake...

The exchange’s deceased owner was transferring user funds off the exchange and using them in his own margin trading on other platforms. The deceased owner of the now-defunct Canadian crypto exchange QuadrigaCX was allegedly transferring user funds off the exchange and using them as a security for his own margin trading on other platforms. The news was revealed in the fifth report from court monitor Ernst & Young (EY), filed on June 19 with the Supreme Court of Nova Scotia. EY has outlined its principal concerns in relation to the exchange, noting that its operations were “significantly flawed from a financial reporting and operational control perspective.” In addition to most of the activities being directed by a single individual — the now-deceased co-founder Gerald Cotton — EY notes that there was neither segregation between duties and basic internal controls, nor any segregation of assets between Quadriga’s and user funds. In this context, EY adds, Quadriga did not have any visibil..

Bancor Seeks to Exclude US Users From Trading Over Regulatory Uncertainty

Developers will block U.S. IP addresses from being able to trade tokens from July 8, while other functionality will remain. Decentralized exchange platform Bancor plans to restrict United States residents from trading tokens on July 8, the company confirmed in a blog post on June 18. Citing a lack of clarity from regulators, executives said they took the decision to ban all users with a U.S. IP address from exchanging cryptocurrency. “This decision has been made in light of increased regulatory uncertainty; at this time, we believe this is the most judicious decision for all the members of our ecosystem,” the blog post reads. It continues: “This will enable the Bancor community and ecosystem to innovate faster and with greater clarity.” Bancor runs as a decentralized protocol using a P2P setup. While it is unclear what specific factor motivated the move, the regulatory situation involving another decentralized exchange (DEX), Etherdelta, in 2018 serves to illustrate the difficulties o..

Blockchain-Based Energy Trading Firm to Optimize Solar Energy Distribution in Austria

Austria's Graz to use DLT-enabled energy trading platform by Power Ledger in move toward zero-carbon energy. Blockchain-based energy trading firm Power Ledger will roll out its peer-to-peer (P2P) network in Graz, the second-largest city in Austria, according to an announcement on June 18. The Australia-based company has partnered with E-NEXT, an innovation arm of major Austria’s energy utility Energie Steiermark, to launch its blockchain-powered energy trading platform in and around Graz. The initiative is an attempt to optimize energy distribution and to contribute to the city's transition towards zero-carbon energy, the release notes. As such, Power Ledger’s technology is expected to enable rooftop solar energy-based households in the city to sell excess renewable energy to their neighbors, generating a monetary incentive for Graz residents to use such energy. Power Ledger will initially roll out its service to 10 households in Graz, while the project reportedly has the..

McAfee Trading Platform Suffers DOS Attack Upon Launch

John McAfee's crypto trading platform was immediately hit with a cloaked HOIC DOS attack following its launch. Cryptocurrency enthusiast John McAfee's crypto trading platform was immediately targeted by hackers with a denial of service (DOS) attack following its launch, according to an official Twitter post from McAfee on June 12. According to the post, the web servers for the “McAfeeMagic” trading platform, were hit with a cloaked High Orbit Ion Cannon (HOIC) DOS attack. Cybersecurity website Imperva describes an HOIC DOS attack as stressing a network by “flooding target systems with junk HTTP GET and POST requests.” However, McAffee tweeted the same day that the website was operational again. According to the same post, the McAfeeMagic trading platform allows users to trade on 8 crypto exchanges, shadow trade professional crypto traders, and make fiat-to-crypto conversions with an over-the-counter (OTC) desk. John McAffee also intends to roll out his own “McAfee Freedom Co..

Bittrex to Expand to Euro Markets, Lowers Trading Fees for US...

Cryptocurrency exchange Bittrex has lowered trading fees for United States customers and announced its expansion to euro markets. Cryptocurrency exchange Bittrex has lowered trading fees for United States-based customers and announced its expansion to euro markets in a blog post published on June 12. The exchange announced the launch of euro markets later this summer, which will enable fiat trading in euros for the first time in its history. Bittrex is also offering lower trading fees for its U.S. dollar markets, starting with a promotional month with 0 maker and 0.15% taker options. The exchange also notes that it will automatically lower fees to the promotional rate for qualifying accounts that have generated not less than $30,000 in trading volume since joining Bittrex or Bittrex International. The development follows Bittrex’ decision earlier this month to block its U.S.-based users from trading in 32 cryptocurrencies starting from June 21. After the change comes into effect, U.S...

Beaxy Launches Crypto Trading Platform Despite Hack Last Month

Despite last month’s hack, Beaxy’s CEO says he “couldn’t be happier with the product this incredible team has built.” Beaxy has announced the launch of its cryptocurrency trading platform on June 11 in a press release shared with Cointelegraph. In the release, the company said it was now live in 43 United States states and 185 countries. According to Beaxy, an exclusive partnership with OneMarketData delivers trading capabilities across nine order types, with transaction speeds of 225,000 per second per trading pair. The launch follows two years of development, and the platform says it has more than 60,000 pre-registered users. Separately, in May, Beaxy CEO Artak Hamazaspyan had uploaded a statement to Twitter confirming that the exchange had been hacked on May 22. Although the attackers attempted to steal valuable information, he claimed “no KYC data was compromised, no code was compromised, and no funds were stolen.” In a candid admission, he added: “This was not the first atta..
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