Category: Exchanges

Cryptocurrency exchanges are platforms where users can buy, sell, or trade cryptocurrencies. These platforms can be centralized (like Binance or Coinbase) or decentralized (like Uniswap or PancakeSwap).

In this section, we present reviews, guides, and news related to different cryptocurrency exchanges. The content may include discussions on security features, user experience, fees, and comparisons between various exchanges, all aimed at helping users choose the best platforms for their needs.

Meta Teams Up with Reuters to Bring Real-Time News to Its AI Chatbot

Summary

Meta’s latest AI tech aims to level up the way we get our news, thanks to the new collab with Reuters. They’ve locked a multi-year deal and are letting Meta’s AI chatbot serve real time Reuters news straight to meta applications. Now we can get the updates just by asking!

The latest AI technology from Meta, a multi-billion dollar company famous for its social media platform, have made collaboration with Reuters, a global news organization known for their reliable, real-time news and information delivery. This is a multi year partnership and it is set to change the way we perceive news.

Basically there is going to be a chatbot in users’ any meta apps like Messenger, Instagram, WhatsApp and Facebook, where user can ask that bot about the news they want to know about. Its like having an intelligent friend who is up to date with all the latest news. Users are promised to receive accurate, up-to-date information alongside links to Reuters’ full coverage.

This collaboration is also a step up for Meta’s AI integration programs. It boosts engagement on its platform while also supporting news organizations. This initiative is just a part of Meta’s broader AI strategy. Some of its plans include AI driven customer service on WhatsApp and predictive content features on Facebook. These innovations show how Meta’s ambition to transform interaction with information.

AI is rapidly becoming more mainstream, similar to meta many other big tech companies are also investing on the advancement of AI. This further increases chances of AI crypto being face of the market.

Read similar topic: Vaneck launches fund of $30M to boost Fintech, Crypto and AI startups

Stripe Acquires Stablecoin Platform Bridge in $1.1B Deal

Summary

Stripe has reportedly accomplished acquisition of stable platform Bridge for $1.1 billion, as per the post done by TechCrunch co-founder Michael Arrington. However, the actual companies have yet to make an official statement.

Deal Confirmed, No Official Announcement Yet

The acquisition of Bridge, founded by former coinbase executives Zach Abrams and Sean Yu in 2022, follows alleged report from last week that the company were in final stage of negotiations. However, neither Stripe nor Bridge have released any official statement except X (formerly twitter) post by Michael Arrington.

Arrington’s Oct. 20 X post.

Bridge’s Role in Stablecoin Market

Bridge provides further features and facilities such as creation, transfer and storage of stablecoins making the system smoother for Stripe. A $40 million funding round for bridge was conducted in August which was conducted by major investing companies like Sequoia and Ribbit, which was followed by the negotiation deal.

Stripe’s Growing Crypto Ambitions

Stripe’s acquisition of Bridge fits its strategy to re-enter the crypto sector. After first introducing Bitcoin payments in 2014 and discontinuing them four years later, Stripe re-entered the market with stablecoin payments in 2024, citing demand for faster and cheaper blockchain transactions.

Rising Demand for Stablecoins

The use of Stablecoin is continously growing, reaching a market height of $173 billion in Q3 2024. This initiative positions Stripe on a favourable position to capitalize on the booming market, which has potential of hitting $3 trillion by 2030. Traditional Financial giants like Paypal and Visa have also started to enter this digital space.

Hyve Unveils High-Throughput Data Availability Protocol, HyveDA

Summary 

Blockchain infrastructure company, Hyve has released a Data Availability Protocol, HyveDa. This project aims to provide faster services with throughput of 1 gigabyte per second, which is 100 times faster than current solutions.

Revolutionizing Data Availability

Protocols like HyveDa are crucial for decentralized applications to get reliable and necessary data without being controlled by centralized system. HyveDa offers high speed permissionless network connections where anyone can join without approval, which removes the bottleneck of decentralized system also enhancing scalability and decentralization.

Scaling for High-Volume Applications

Currently capable of 1 GB/s, Hyve plans to scale HyveDA’s throughput to 50 GB/s as the network expands. This positions the protocol to handle data-heavy applications such as artificial intelligence, decentralized finance, and Web3 gaming. Its permissionless design aligns with the core principles of decentralized ecosystems, providing flexibility and accessibility.

Strategic Partnerships and Funding

HyveDa is in mutually beneficial relationship ecosystem aiming for reliable security. Hyve raised $1.15 million in pre-seed funding, to grow and improve its team, enhance layer-2 blockchain system and other platforms. This project aims to solve digital challenges related to large scale data handling in decentralized system.

Future Outlook

HyveDa is showing a great promise in blockchain environment but it’s real success will be determined by it’s scalibility in real world environment. It provides High speed permissionless network which does solve network issues but might cause security problems as anyone can access data without approval. However, the protocol’s focus of handling high-throughput, data intensive applications puts it in positive blockchain space.

Billionare Changpeng Zhao Investing Big in AI, Blockchain and Biotech

Summary

Binance co-founder Changpeng Zhao, one of the biggest name in crypto, has just spoke out for the first time since he was in custody. After serving 4 months in California and paying $50 million on a personal fine, CZ is still all in on AI, blockchain and biotech. In fact, he's doubling down on his investments and lays out a fresh vision for the future of the space, making it very clear that he's not backing down from pushing crypto world to the mainstream.

Changpeng Zhao was in custody regarding legal issues surrounding Binance, the crypto exchange he co-founded. U.S. authorities claimed that Binance didn’t follow strict regulations, which allowed criminals and terrorist organizations to misuse the platform for illegal activities. As a settlement, CZ had to pay a huge amount and even serve 4 months in California as part of the plea agreement.

Following his release CZ posts on X (Twitter) that he will continue investing in blockchain, artificial intelligence, and biotechnology. “I am a long-term investor who cares about impact, not returns”, he says. Despite his departure from daily operations, Zhao reassured followers that Binance seems to be doing well without him back-seat-driving, which is every founder’s dream. Zhao shared he also plans to invest more in philanthropy and education highlighting his latest project Giggle Academy. He also said he is about two-thirds complete on writing his book.

Despite his legal troubles, Zhao’s net worth remains above $60 billion, making him the richest person ever to serve time in a U.S. correctional facility. This is a new chapter in Zhao’s life, evolving beyond constraints with a fresh perspective and it is interesting where it can go.

Bybit Secures Provisional Crypto License from Dubai’s VARA

Once labelled as unregulated, Bybit: the second largest cryptocurrency exchange by derivatives trading, has just been pre-approved for licensing by Dubai’s Virtual Asset Regulatory Authority (VARA). This non-operational license implies that Bybit will be able to perform activities in Dubai and provide services to both retail and institutional clients – the next step towards the company’s globalization.

On its part, Bybit’s Chief Operating Officer, Helen Liu noted that factors such as the strategic location of Dubai, free-spirited regulation, and commitment towards the establishment of a hub for innovation make Dubai a fertile ground for the success of Bybit. “Today, there are immense possibilities in the sphere of cryptocurrency for business and investors and it would be sufficient to name only Dubai in this regard,” she continued.

Bybit relocated its headquarters to Dubai at the start of 2022 and earlier this year expanded its partnership with the DMCC from an ecosystem partner to an adviser. The exchange is sill in a process of chasing operating license to the full.

Taking into account, the trading volume of Bybit has ten times more than $15. , ending the day in the second place behind Binance, its derivatives totaled $8 billion on September 16, thus further cementing its position in the global cryptosphere.

Indonesian Crypto Exchange Indodax Hacked, $20 Million Stolen

Indodax, one of Indonesia’s largest cryptocurrency exchanges, was hacked, resulting in a loss of $20 million in assets. The hacker quickly converted the stolen funds into various cryptocurrencies.

Currently, the hacker holds 5,584 ETH ($13 million), 6.84 million POL ($2.56 million), 16.7 million TRX ($2.55 million), and 25 BTC ($1.41 million). These assets are spread across Ethereum, Optimism, Polygon, Tron, and Bitcoin networks.

The incident raises concerns about the security of cryptocurrency exchanges. Indodax has yet to release an official statement regarding the breach or recovery efforts.

This hack serves as a reminder for crypto users to ensure their assets are secured with strong measures like two-factor authentication and cold storage.

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Former Mt. Gox CEO to Launch EllipX Crypto Exchange in Europe

Mark Karpeles, the former CEO of the now-defunct Mt. Gox exchange, is launching a new crypto exchange called EllipX in September, based in Poland. Initially focused on European users, EllipX will comply with the EU’s MiCA regulations and plans to eventually add fiat currency services.

The platform will promote transparency with regular third-party audits and aims to improve security in the crypto space. Karpeles is also offering 50% off trading fees to former Mt. Gox users as part of a reparations gesture, with the discount tied to non-fungible tokens he released for affected users.

Karpeles hopes this new venture will help rebuild trust with the community after the collapse of Mt. Gox in 2014, which resulted in significant losses. He believes the industry has evolved, and EllipX can be a positive example of transparency and security.

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OKX to List Hamster Kombat’s $HMSTR Token

A huge news for gaming buddies and crypto enthusiasts!

$HMSTR token from the blockchain game Hamster Kombat is dropping on OKX Exchange on September 26, 2024. And yes it is hitting the spot market.

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What makes it more exciting is that some cool $HMSTR-related campaigns is also getting launched by OKX. To get in on the action, you can check out the countdown on OKX’s platform.

Another best thing is that before the public can buy $HMSTR during the ICO, eligible users can trade $HMSTR futures with double the leverage.

So, all the enthusiasts you can get tokens and make profits before they even hit the market.

If you are new to Hamster Kombat world, then let me tell you what Hamster Kombat is. Hamster Kombat is a fun game where you can run crypto exchanges owned by cute hamsters and use the $HMSTR token as in-game currency.

$HMSTR token listing on OKX could level up the game and token both in the crypto world.

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US SEC Threatens to Sue NFT Marketplace OpenSea

OpenSea, one of the growing NFT marketplaces, is in trouble with the US SEC.

On August 29, CEO of OpenSea Devin Finzer took to social media to share that the SEC sent them a Wells notice, indicating that they may get sued soon.

Reason? The SEC thinks some NFTs on the OpenSea platform could be considered securities. This highlighted the drama between the SEC and the crypto world over whether digital assets like NFTs should be treated as securities.

Fizner is not happy, but he says OpenSea is ready to stand up for creators and artists. Crypto companies debate that the current rules don’t abide by digital assets. They feel that SEC is being unrealistic and getting too involved. While, the SEC claims it’s just trying to protect investors

It is not sure if the SEC is officially investigating OpenSea , but the hit is real.

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Binance Ready for Cardano Chang Hard Fork as Preparations Peak

Binance through its official channels claimed readiness for the Cardano Chang hard fork increasing the readiness level of exchanges. The team originally planned the upgrade for the 27th of August. But, shifted it to the 1st of September because some exchanges were not prepared.

Earlier this week, August 24 to be precise, the founder of Cardano, Charles Hoskinson made the announcement. In that period, only 31 exchanges were ready to accept the hard fork. Of the total $41 million liquidity, 73% were in the exchanges. Those needed more time to comply with Cardano exchange requirements.

Now, Binance has joined 37 exchanges that are now ready for such an upgrade. Other platforms of a similar size are Bithumb, Bybit and Gate. The Ministry of internal affairs and other stakeholders have also prepared as well. Nevertheless, Bitfinex preceded others in signaling its readiness after it revealed it’s plans in the early part of the month.

We can also consider the introduction of the Chang hard fork a positive development for the Cardano ecosystem. Exchange readiness needed to achieve an exchange. Currently, there is 64 % of exchanges that are already ready for it. While, 17 % exchanges are still preparing for it. Some of them are HTX (formerly Huobi) and Bitget that are leading this progress with 7.25% and 4.13% liquidity.

But 11 exchanges in particular have not begun preparing. P2B is a Lithuanian exchange which at present is only 3 years old. With regard to preparation for contingencies, respondents with liquidity of less than 21% are the highest that indicates that they have insufficient preparation.

Furthermore, most of the wallets supported on Cardano are ready for exchange as well. Currently, Ledger, Trezor, and Keystone of the hardware wallets have come forward with their support. The light wallets such as Lace and Nami are also ready This implies that all the light wallets within this application are ready for live use. IOHK which has been working on the development of the Daedalus wallet released an important statement on 20th of August.

At present, 92% of SPOs confirmed their readiness for the update and assure that Cardano’s ecosystem is prepared for it.

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