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Binance Shiba Inu Token Transaction Sparks Speculation

Tuesday. August 13 at 11:00 AM

1 min. read

A recent transaction on the Ethereum blockchain involving a large number of SHIB tokens from Binance has intrigued the Shiba Inu community. The transfer of 137 billion SHIB tokens from one Binance wallet to another has raised questions about the purpose behind the transaction. While some may have speculated about the reasons for this movement, it appears to be a routine reshuffling of assets within the exchange. Exchanges often redistribute tokens across different wallets for security and liquidity purposes. Despite the significant amount of SHIB tokens involved in this transaction, it represents only a fraction of Binance's total holdings. The latest Proof-of-Reserves report indicates a slight decrease in the exchange's Shiba Inu token reserves, possibly due to investors withdrawing tokens in anticipation of a market upturn. Despite this, Binance maintains a healthy collateral ratio for all SHIB tokens held on the platform.

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Tokocrypto Receives Full License in Indonesia

Tuesday. September 10 at 7:00 AM

Indonesian exchange Tokocrypto has obtained a complete license from the country's Commodity Futures Trading Regulatory Agency, also known as 'Bappebti.' On Sept. 9, Tokocrypto announced that it had been granted the Physical Crypto Asset Trader (PFAK) license by Bappebti. This license authorizes the company to function as a physical crypto asset trader and ensures compliance with the nation's trading regulations. Previously, exchanges in Indonesia operated under a 'prospective crypto exchange' classification, but in 2019, Tokocrypto was registered as a Prospective Physical Crypto Asset Trader (CPFAK). The company's CEO, Yudhono Rawis, stated that Tokocrypto is the third exchange to receive this license in Indonesia, with 35 prospective crypto exchanges still registered with the futures regulator. Tokocrypto aims to solidify its position as the leading trading platform in Indonesia by obtaining this license, as evidenced by its market share dominance in 2023 according to CoinGecko data.

Exchange

CoinEx: Navigating the Crypto Market

Thursday. September 5 at 1:00 AM

As the cryptocurrency market matures, exchanges play a crucial role in trading and liquidity amidst regulatory and technological changes. CoinEx, established in 2017, has distinguished itself by prioritizing user-centric innovation and building a robust ecosystem. With over ten million users globally, CoinEx focuses on long-termism, emphasizing sustainable growth and user satisfaction. The exchange's competitive edge lies in its experienced team, technological innovation, and commitment to enhancing user experience. CoinEx's platform token, CET, incentivizes users and enhances engagement within the ecosystem. The exchange's future strategy revolves around technological advancements, user-focused services, and expanding its ecosystem. CoinEx's CEO, Haipo Yang, emphasizes the importance of values, long-term planning, and user feedback in driving the exchange's success. Despite market challenges, CoinEx remains optimistic about the crypto market's growth, driven by technological advancements and institutional investments.

Exchange

Bitwise Expands into European Markets through Acquisition of ETC Group

Tuesday. August 20 at 1:30 PM

Bitwise, a San Francisco-based asset manager, has made its entry into the European markets by acquiring the crypto investment firm ETC Group. The financial terms of the deal remain undisclosed. ETC Group, headquartered in London, manages over $1 billion in assets, offering a variety of crypto exchange-traded products (ETPs) such as Bitcoin ETP (BTCE), Ethereum with staking (ET32), Solana (ESOL), XRP (GXRP), and MSCI Digital Assets Select 20 (DA20). With this acquisition, Bitwise now oversees nine European-listed crypto ETPs, boosting its total assets under management to over $4.5 billion. Bitwise CEO Hunter Horsley expressed excitement about serving European investors and expanding their product range with innovative ETPs. ETC Group, known for launching crypto ETPs since 2020, also introduced a blockchain equity exchange-traded fund (ETF) in Europe. Bitwise, a key player in the US Bitcoin ETF market, recently received approval for its Bitwise Bitcoin ETF (BITB) and Bitwise Ethereum ETF (ETHW), accumulating significant assets in both funds. The growth of crypto ETP adoption is anticipated, driven by institutional interest and evolving regulatory frameworks.

Exchange

Bitnomial Exchange Self-Certifies XRP Futures Contract with CFTC

Thursday. August 15 at 6:30 AM

Bitnomial Exchange, LLC, recently self-certified a new futures contract for XRP with the Commodity Futures Trading Commission (CFTC) on August 9. The XRP US Dollar Futures contracts, known as XUS, were set to commence trading on August 13, 2024. Despite the scheduled launch, the official website did not display any XRP Futures at the time of publication. This certification could potentially lead to the approval of a spot ETF in the United States. The XUS contract is a physically settled futures contract involving 100,000 units of XRP. Bitnomial emphasized compliance with CFTC regulations, focusing on areas such as market manipulation, trading practices, market disruptions, and financial integrity. Market participants and clearing members have shown support for the XRP US Dollar Futures contracts, signaling a positive response within the community. The move by Bitnomial could influence the SEC's stance on spot ETFs, potentially paving the way for future approvals.

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