Are Bitcoin Exchanges ‘Immature’?

An old-school technology company which was founded ten years before the Bitcoin white paper was released it now looking to help today’s cryptocurrency trading platforms mature.
Based in the capital of Sweden, Cinnober mainly provides tech solutions to traditional stock and commodity exchanges around the world. However, this year it has seen a few deals with crypto startup. The most recent one is the Bitstamp exchange which announced this week that it will be the first in the space to use the vendors TRADExpress platform, alongside the likes of the London Metal Exchange.
It’s likely that this won’t be the last crypto exchange to do so. Cinnober says that it’s looking for other potential partners in the market and sees about twelve that would be perfect fits.
The leader of Cinnobers cryptocurrency and blockchain division, Eric Wall stated in a recent interview that:
“The most suitable ones are those who are looking to participate in the transformation that the industry is going through. We can serve retail-only focused cryptocurrency exchanges, but the ideal customer for us is the one that is looking to cater more heavily to institutional investors.”
Getting institutional traders as clients will be a vital part for cryptocurrency exchanges to carry on. Wall thinks that this will require significant adjustments saying:
“Cryptocurrency exchanges currently are extremely immature from the traditional financial markets perspective. Many of them lack basic knowledge of how to operate robust and reliable financial markets.”
Especially looking at attracting more investors, crypto exchanges should provide the same functionality as traditional stock and commodity exchanges do. As Wall says, adding in trade compression, netting and clearing mean that cryptocurrencies can be traded like a typical financial asset.
With crypto exchanges, they are typically operated on a pre-funded basis, only allowing users to trade as much as they have on their accounts, while traditional financial exchanges use cleared trades when customers maintain collateral deposited with a clearinghouse.
Wall continued to say:
“Right now the cryptocurrency exchange market is very inefficient as there are no clearing technologies and clearing houses in place. We can help a cryptocurrency exchange become a real exchange that has a clearing module, so trading is more efficient for institutional investors.”
What are your thoughts? Let us know what you think down below in the comments!

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MBAex Accepting Dash To It’s Exchange

A cryptocurrency exchange in Southeast Asia, MBAex, will start to implement DAsh into its platform along with their own token MDP, Tether and Bitcoin trading pairs, due to the great work from Dash Embassy D-A-CH.
The exchange’s currency consumer base is around “70% from Greater China area (China, Taiwan, HK, Macau)”, “20% SE Asia”, as well as “10% Others” areas with “daily website traffic of approximately 1.8mil access and active trader count of approximately 200k to 300k individuals.”
The exchange told Dash Force News that they currently have over 1 million registered KYC–ed users. The integration will expose Dash to more individuals along with having the advantages of their “24hrs live chat support and an affiliate program to drive the growth of user base and transactions.”
The exchange features trading fees which are 0.05% with a VIP6 subscription and a normal rate of just 0.1%. They also have extensive informational and research sections for traders. Over the next two years, MBAex has a goal to offer more products and services to grow their community, continue efforts on branding and marketing and expand in European markets.
MBAex has said that they are motivated to integrate Dash because they always select the project with a great value proposition and potential to fulfil the needs of their user base. This is a common theme throughout the ecosystem and development of Dash. the payment processor and exchange, SlithEx is also aiming at integration in Southeast Asia by using Dash’s ease of use and technology advances to gain a better adoption.
As said by Dash Force News:
“Many groups who have integrated Dash have highlighted Dash’s focus on everyday usability as a reason for the integration and this increases the demand to buy and sell Dash on exchanges”
The demand from merchants and consumers alike which want to buy Dash to use it or need to liquidate it into fiat to pay bills which can’t currently be paid through Dash.
The team at Dash has actually said that it will focus on increasing adoption for Dash. This is due to traders using Dash as their liquidity service to move between exchanges and other coins quickly to capture the potential gains because Dash is faster and cheaper to move than other coins
What are your thoughts? Let us know what you think down below in the comments!

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How Bakkt Could Lead Bitcoin To Recovery

A well-known crypto trader, technical analyst and all-around figure the crypto space, Alex Kruger has said that Bakkt will lead the recovery of Bitcoin throughout the end of this year to the start of the next.
Kruger went onto say that denial of the Bitcoin exchange-traded fund filling of SolidX, VanEck and Chicago Board Options Exchange will lead to the crash of Bitcoin, possibly leading back down to the $6,000 mark and maybe even the $4,000 level.
Kruger said:
“Possible outlook for BTC: First, bull run on BAAKT & renewed ETF approval narrative early 2019. Second, ETF denied Feb/27, massive crash, goodbye 6k, hello 4k, cleanse all weak hands Lastly, halvening 2020 narrative and re-adjustments lead to [a] sustained bull run for the rest of 2019 & 2020.”
The trading platform, Bakkt has strict regulations on it by its developer’s ICE, the parent company of the New York Stock Exchange and is currently in the process of established an ecosystem that enables both retail traders and institutional investors to invest in the crypto market with sufficient investor protection and through products which are in touch with the regulations in the United States.
Bakkt is expected to launch a cryptocurrency futures market next month. This aims to increase the liquidity of Bitcoin. Prior to this, the US Securities and Exchange Commission rejected nine Bitcoin ETFs on the premise that the Bitcoin futures market is not a sufficient size to handle an ETF.
As said by CCN:
“The entrance of Bakkt into the cryptocurrency exchange market, the involvement of Bitcoin futures market operator CBOE in the VanEck ETF, and the track record of VanEck in filing over 200 successful ETFs with the SEC have led to an increase in anticipation towards the VanEck-SolidX ETF.”
Throughout the next two to three months, Kruger emphasized that renewed enthusiasm towards the market initiated by Bakkt and the VanEck ETF will lead the Bitcoin price surge up higher to major resistance levels.
Since August, Bitcoin failed to break out in the $6,000 area because of its low daily trading volume and relatively low trading activity in the global crypto exchange market.
As of now, the market needs a major catalyst to engage a proper short-term rally and upside movement leading to the two financial institutions being a major factor which might trigger an increase for the price of Bitcoin.
What are your thoughts? Let us know what you think down below in the comments!

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Crypto Manipulation Can Be Stopped According To Nasdaq

According to the US stock exchange giant, Nasdaq, they can lead the fight against the manipulation in the market which has been surrounding the space for a while now. In fact, a couple of other exchange platforms are already adopting the exchange operator’s market surveillance technology.
So just how can the exchange solve fraud and market manipulation? In a report published at the start of November, Nasdaq mentioned that it has a lot of experience in dealing with the little details of the assets trading markets.
In part of the report by Nasdaq it says:
“Regulators, brokers, and exchanges have surveillance teams that monitor activity constantly and advanced technologies to help capture and analyze abusive behaviours including pump-and-dump schemes, insider trading, wash trading as well as spoofing and layering.”
As reported by Bitcoinist, many critics of digital currencies are fast to point out that there is a lack of sturdy regulations in the industry as an incentive or all kinds of illegal trading practices. In the US, the Justice Department in conjunction with the CFTC began investigating different allegations of manipulation of price in terms of Bitcoin.
According to Nasdaq, some significant players in the crypto trading space are already using its market surveillance technology.
During the midpoint of this year, reports emerged saying that Gemini, SBI Virtual Currencies and three other platforms were already using Nasdaq’s SMARTS technology with further developments in the trading space. With all this, the firm seems to be in somewhat of a high demand.
Tony Sio, the head of the exchange’s regulatory surveillance spoke out on the matter and said:
“We’re now getting approached every week or two. We won’t work with all of these firms though since a lot of them are quite an early stage or not reputable yet.”
For the exchange, since the start of 2018, this has been the case of moving from tentative to more concrete involvement in the upcoming virtual currency industry. Adena Freidman, the CEO, has showed her bullish sentiments in the past regarding the prospects of digital currency whilst also reiterating the need for more robust regulations.
What are your thoughts? Let us know what you think down below in the comments!

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WEX Accounts Frozen By Binance

As said by CCN:
“Intrigue abounds around the allegedly Singapore-based WEX exchange, whose ownership and activities have both been called into question in recent months.”
One key thing to look at was the exchange listing a much higher market price for Bitcoin and strangely overcharging for USDT. Prior to this, an interesting report on the exchange written by Conor Maloney which partly explained:
“WEX is a rebranded version of the BTC-e exchange which was shut down in connection to a multi-billion dollar money laundering operation with a Russian national named Alexander Vinnik reportedly charged in connection with the criminal operation.
Singapore business records indicate that the exchange is officially owned by one Dmitry Vasiliev, but he recently claimed to have lost control of the exchange and was unable to clarify exactly who was in charge.”
According to recent reports in the crypto space and the CEO of Biance, Changpeng Zhao, WEX has been seen shifting millions of dollars worth in cryptos from its exchange through the biggest exchange by number and Binance has in turn frozen the accounts and requested the public to get in touch with the police. As said by Zhao on his official Twitter.

the identified accounts are frozen, please report to law enforcement and have a case number.  We will work with LE. This is part of centralization we hate too, dealing with other exchange’s mess (we don’t even know the details). But we will do what we can. https://t.co/tgyYI5ptqx
— CZ Binance (@cz_binance) October 30, 2018

Previously, WEX has frozen withdrawals and it seems likely that the problems on the exchange will go on. Prior to its negative coverage regarding the withdrawal problems and its strange prices, WEX was an unknown quantity. People keep on getting themselves into trouble whilst they are dealing with small exchanges, leading experts to advise that people stick with large-scale regulated known exchanges in all cases.
What are your thoughts? Let us know what your thoughts are down in the comments below!

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Gemini Adds Litecoin with Approval from New York Regulators

Cryptocurrency exchange, Gemini, announced today that they will be adding support for Litecoin (LTC) beginning on Saturday, October 13th. Investors will be able to deposit LTC into Gemini, but will not be able to trade the cryptocurrency until Tuesday, October 16th.
Litecoin will be the fourth digital asset added to the exchange platform and will have trading pairs with all the available assets on the platform, including Bitcoin, Ethereum, and Zcash.
Litecoin is a peer-to-peer (P2P) open source project that was forked off of the original Bitcoin network in October of 2011. Although met with some controversy regarding its utility as compared to Bitcoin’s, it is now widely referred to as the Silver of cryptocurrency, while Bitcoin is the industry’s Gold.
Although technically similar to Bitcoin, Litecoin differentiates itself by using a unique mining algorithm that is intended to make it more decentralized, and utilizes some features intended to make it more efficient for payments than Bitcoin.
The move to add LTC to Gemini came after the exchange received approval from the New York State Department of Financial Services (NYSDFS) that approved Gemini’s addition of Litecoin trading and custody services.
Eric Winer, Gemini’s vice president of engineering, wrote about the NYSDFS’s regulatory relationship with the exchange in a Medium post, saying:
“Gemini continues to grow with a ‘security-first’ approach and we have worked closely with the NYSDFS to gain approval for Litecoin trading and custody services. We are excited to provide our customers with a safe, secure, and compliant method to buy, sell, and store these digital assets.”
Gemini Postpones Plans to List Bitcoin Cash
In the exchange’s Litecoin announcement, they also explained to investors that they have delayed their plans to list Bitcoin Cash, the recent and highly controversial fork of Bitcoin.
The reason for postponing their plans to list BCH is mainly surrounding the uncertainty in the community regarding possible hard forks occurring later this year.
Gemini explains that:
“There has been much uncertainty lately within the Bitcoin Cash community about one or more possible hard forks arriving in mid-November. Some of those forks lack the replay protection feature that would be required for Gemini to safely support Bitcoin Cash. Because of this situation, we are delaying our launch of Bitcoin Cash deposits, withdrawals, and trading until late November…”
Possible Price Impact of Gemini Litecoin Listing 
Upon the news of Gemini adding Litecoin to their platform, the cryptocurrency posted slight gains, mainly due to an overall recovering market that has moved up slightly after seeing widespread losses on Wednesday and Thursday.
This past May, when Gemini added Zcash to their platform, the crypto pumped 40% in a day, mainly due to a combination of general market health and the somewhat unexpected news of the listing.
Although Gemini may not have the same market influence as its main competitor, Coinbase, the exchange still has significant trading volume. It is possible that there could be a LTC price pump once trading begins on the exchange, but decreasing trading volume across the board could hamper this.
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Bitfinex Stops USD Deposits To Their Exchange

The popular digital currency exchange, Bitfinex has reportedly stopped its USD deposits to their exchange. This news comes after last weeks, several rumours that the exchange was broke which made management forced to step up and deny the rumours that they were not bankrupt.
The company has gone under inspection for the widespread use of the USD Tether stablecoin. However, there haven’t been any transparent audits which actually prove the stablecoin is backed by the US dollar. This is a serious situation for the market, with over $2.5 billion in the form of USDT.
A digital currency news outlet, The Block has revealed that earlier today, the exchange has stopped all deposits of USD. At least, they have stopped them for now as they are expecting the situation to return to normal by next week. The same news outlet also reported that their new partnership with the popular bank HSBC, after reports emerged of their previous banking partner finding it hard to run.
On their blog, Bitfinex said this on the matter:
“Complications continue to exist for us in the domain of fiat transactions, as they do for most cryptocurrency-related organisations. However, we continue to do our utmost to minimise any waiting times associated with fiat deposits and withdrawals.”
Their bank account is a private one under the name Global Trading Solutions and so it isn’t clear whether HSBC was aware that the exchange was banking with them. According to The Block who said:
“Now it appears that the private account is no longer functional. Bitfinex currently has no active method of deposits as all USD, EUR, JPY and GBP deposits are paused.”
Now, this is different from what was said by Bitfinex in their blog post explaining why they weren’t bankrupt or going bankrupt. They had said:
“Verified Bitfinex users can freely withdraw Euros, Japanese Yen, Pounds Sterling and U.S. Dollars.”
Twitter users are also reporting the issue, with USD withdrawals currently being temporarily stopped for many. There is speculation that the recent drop in the price of Bitcoin was due to the rumours of the withdrawals being stopped.
If you decide to attempt to deposit USD anyway you will be met with this message:
“USD Wire Deposits Temporarily Paused. We expect the situation to normalize within a week. We apologize for the inconveniences.”
What are your thoughts? Let us know what you think down in the comments below!
Reference:
AMB Crypto

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BIT10 Is Inspiring Institutional Investment Thanks To Abra

Institutional investment is a driving force that promises to pull Bitcoin up to the very top. Many expect that when the big institutions start to get involved that Bitcoin will surpass all of its targets and reach values that far exceed $20,000.00. This is why, when we hear news of index funds and other projects of institutional interest we all get a little bit excited.
This latest project, through Abra is no exception to this.
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Goldman Sachs-Backed Firm Acquires Crypto Startup to Issue Tokenized Securities

Circle Internet Financial, one of the markets most well-known and well-funded crypto startups is acquiring crowdfunding firm SeedInvest in order to make it easier for startups to issue digital coins and to allow its customers to trade a greater variety of digital tokens.
Major Development in Tokenized Securities
SeedInvest was founded in 2012, and is a unique platform that allows investors, from anywhere in the world, to invest in startup companies, an ability that is typically reserved for wealthy investors who meet specific requirements set forth by global regulatory agencies.
Despite increased accessibility to unique private fundraising opportunities, many SeedInvest projects do have specific investor requirements, mainly due to the regulations incurred by being incorporated under a registered broker-dealer with the US SEC.
If approved by regulators, the acquisition of SeedInvest by Circle would offer the crypto markets a new investment opportunity: investing in companies through the issuance of regulated security tokens that would entail investors to specific rights as set forth by the company.
It would also prove incredibly helpful to companies that are looking to use a tokenization model to reach a wider investor audience and to avoid the challenges posed by traditional share-based fundraising models that require heavy banking presence.
Circle’s CEO, Jeremy Allaire, spoke about his company’s latest acquisition, saying:
“This was a company who had been at the forefront of collaborating with government to figure out how to make it possible to innovate in the way people raise capital. Crypto securities are going to become a major new category of securities that ultimately every business is going to adopt, just like every business has a website.”
Many investors and companies have been wary of token issuances that resemble securities, mainly due to the regulatory risks associated with them. The introduction of a fully regulated investment platform, like SeedInvest, however, would alleviate these concerns and provide a fully regulated venue for prospective security token investors.
Circle is not Alone: Growing Trend of Cryptocurrency Exchanges Acquiring Registered Broker-Dealers
Cryptocurrency exchange Coinbase has also taken similar actions to acquire registered broker-dealers in order to legally list, and sell, cryptocurrencies and tokens that are deemed as being securities by the US Securities and Exchange Commission.
The exchange’s recent acquisition of Keystone Capital, Venovate Marketplace, and Digital Wealth, all help this goal, enabling compliance with securities laws set forth by the SEC and FINRA.
Asiff Hirji, the President and COO of Coinbase recently wrote about the exchange’s acquisitions, saying:
“Today, we’re announcing that Coinbase is on track to operate a regulated broker-dealer, pending approval by federal authorities. If approved, Coinbase will soon be capable of offering blockchain-based securities, under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA)… This is all being enabled by our acquisition of Keystone Capital Corp., Venovate Marketplace, Inc., and Digital Wealth LLC.”
Circle and Coinbase are both working towards a similar goal of profiting from the growing trend of tokenization, which could very well alter the way money is raised in the 21st century.
“It’s not just ‘how do we let companies do ICOs?’ It’s ‘how do we support the tokenization of everything?’” Allaire added.
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Here’s How Binance Have Achieved Crypto World Domination


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When you think of cryptocurrency exchanges, a few names and brands may spring to mind, none of which however will have quite the same impact as the name ‘Binance’, the cryptocurrency exchange that is quickly becoming the world’s biggest.
Like every cryptocurrency exchange, Binance started out with the goal to give it’s users better and faster access to more cryptocurrencies. They wanted to create an easy to use platform that would allow as many people as possible to buy every cryptocurrency.
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Coinbase Want To Attract More Than Just Institutional Investment

Coinbase have been accused of only wanting to attract institutional investors, however their latest move is one that has been designed entirely for low level and inexperienced investors. Coinbase Bundle is a new platform that is being launched by the popular US exchange in order to make it easier for new investors to invest in cryptocurrency.
Coinbase Bundle will be launched in the United States and across Europe over the next few weeks and will allow new traders to purchase a bundle of five cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin and Ethereum Classic (all of the tokens that are currently offered on the Coinbase exchange).
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Binance Unveils Plans To Test A Fiat Crypto Exchange In Singapore

Binance, the world’s largest cryptocurrency platforms by trading volume, will start a crypto fiat exchange testing in Singapore. This was revealed by the Binance Co-founder and CEO ChangPeng Zhao, during a blockchain conference in Singapore. He later confirmed the plans through an official tweet post. It can therefore be assumed that before the end of the year, Binance would offer support for the Singapore Dollar (SGD) including alternatives like SGD/BTC and SGD/ETH pairs. For now, the SGD pairs will only be available in closed Beta, since the beta testing will be through invitation only. 
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Decred DCR Now At KuCoin Exchange

The self-governing cryptocurrency, Decred DCR, is now listed at the KuCoin exchange.
What is Decred DCR?
Decred DCR is a digital currency which plans to develop a policy creation on and decentralised governance on the blockchain. The aim is to produce a cryptocurrency which operates independently with progress voted on and enacted right by the holders and miners of the coin.
DCR also includes some vital changes from the Bitcoin protocol which it is based on to achieve the aforementioned goals.
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Crypto Exchanges Resort to Unorthodox Methods Amid Bear Market

A side effect of plummeting cryptocurrency prices is that crypto exchanges such as Binance, Bitfinex, OKEx, and many others are seeing trading volumes drop considerably, and with it, the revenue these companies derive from the trading fees associated with each transaction an investor makes. In an effort to continue to drive strong revenue numbers and maintain market share gained during the 2017 cryptocurrency market bull run, many exchanges have turned to unorthodox business practices in order to gain a competitive edge, lure in more customers, and profit off new coins being listed on their exchange.
Crypto Bear Market Has Forced Exchanges to Get Creative
According to data from cryptocurrency price data aggregate site CoinMarketCap, trading volumes in the cryptocurrency market have declined 80% from its January 2018 high led by Bitcoin’s meteoric rise in late December.
Since then, new crypto exchanges, new investment products, and even new coins have surfaced that could further divert revenue from the current major players scrambling to maintain their market share.
“The market downturn has certainly contributed to an increase in unorthodox strategies by token issuers and exchanges,” Lucas Nuzzi, director of technology research at Digital Asset Research, told Bloomberg.
Crypto Exchanges Strong-Arm Coin Issuers With Random Listing Fees
Many crypto exchanges charge coin issuers to list their coins for trading among investors in an attempt to bolster their bottom line at the expense of cryptocurrency projects themselves. Lex Sokolin of Autonomous Research says that these fees have amounted to as much as $1 billion in exchange revenue.
In one such example, Singapore-based cryptocurrency exchange KuCoin allegedly charges as much as 50 BTC to have a new coin or token listed, according to Christopher Franko, co-founder of North Carolina-based blockchain startup Expanse.
“We can pay for it, but it doesn’t justify the means,” Franko told Bloomberg in a phone interview.
KuCoin denied the claim, suggesting that prices vary by startup and added that the fee itself isn’t the motivation to list projects. The “project itself is,” said KuCoin spokesperson Miles Wu.
Franko also recently accused Binance of charging a staggering 400 BTC, or approximately $2.5 million in current the current price per Bitcoin – a claim that Binance CEO Changpeng Zhao vehemently disputed.
Another major exchange, OKEx, doesn’t charge coin issuers, but instead encourages them to bring in 50,000 new registered users to the exchange, with at least 20,000 of them actively trading with an account fund by a minimum of one ETH. Meeting those guidelines doesn’t guarantee a coin will be listed, and will only give them a “better shot,” according to the report.
Both exchange’s listing approach is in stark contrast to the easy to understand standards set by traditional financial firm NASDAQ, which charges $50,000 to list a 15 million share company, and $225,000 to list a company with over 100 million shares.
Native Token Issuance To Encourage User Voting and Loyalty
Crypto exchanges such as KuCoin, Binance, and Bitfinex’s DEX, Ethfinex, all offer investors native cryptocurrency tokens of their own, both as an investment vehicle, but also to give discounts on trading fees or to be used to vote for coin listings. Such a strategy can encourage customer loyalty as they become bound to the exchange’s native token and reap the benefits of holding the token.
In these cases, the addition of new listings is largely in the hands of the cryptocurrency community. In addition, the native tokens help these exchanges maintain market share by keeping customers and their transactions tied to their own ecosystems.
 
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Bittrex Purchases Stake In Malta Blockchain Startup

Bittrex, which is one of the world’s leading cryptocurrency exchanges, has recently bought a 10% stake in the Malta-based blockchain company Palladium, according to recent media reports. Bittrex, founded in 2014, provides digital wallets, real-time trade execution and other security practices.
Palladium was launched to much fanfare back in July this year, with Joseph Muscat – the Prime Minister of Malta – making a speech at the launch event. Mr Muscat claimed that the recent development was the next in a step to turn Malta into the “blockchain island”.
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