US crypto exchange Kraken eyeing public listing in 2022

Kraken CEO Jesse Powell has revealed that the crypto exchange could go public before the end of 2022. Powell made this known during an interview with Bloomberg TV, stating that the move would be a natural progression for the company in its mission to “bring crypto to the world.” According to Powell, Kraken is currently doing “prep work” towards going public in the next 12 to 18 months. However, the exchange CEO did not give a target valuation for the upcoming float. Earlier in June, Cointelegraph reported that Kraken was…

Crypto exchange Huobi has reportedly stopped letting new users trade derivatives

Huobi, one of the largest cryptocurrency exchanges in the world, has reportedly restricted derivatives for new and existing users over concerns about China’s regulatory crackdowns. Chinese journalist Colin Wu reported on Twitter Thursday that Huobi had temporarily dropped the maximum allowable trading leverage from 125x to less than 5x for existing users. In addition, new users based in China were not allowed to engage in derivatives trading on the exchange. Exclusive: Due to concerns about regulatory policies, China’s largest exchange Huobi recently restricted the leverage of existing users to less…

DeFi exchange dYdX raises $65M in Series C fundraiser

Venture firms from across the blockchain industry have thrown their weight behind decentralized exchange developer dYdX, offering further evidence that investors are eyeing a further expansion of the decentralized finance (DeFi) ecosystem. The Series C round generated $65 million in direct funding for dYdX, with venture fund Paradigm leading the raise. HaskKey, Electric Capital, Delphi Digital and others also participated in the raise. The exchange also received direct support from eight liquidity providers, including Kronos Research, MGNR, Menai Financial Group, QCP Capital, CMS Holdings, CMT Digital, Sixtant and Finlink Capital.…

Korean banks will need to classify crypto exchange clients as ‘high risk’

New rules announced by South Korea’s Financial Services Commission, or FSC, are expected to affect around 60 unauthorized cryptocurrency exchanges in the country, and a new policy for banks will require that they classify any crypto exchange clients as “high risk.” According to the Korea Times, the new guidelines were announced on Sunday and are intended to ensure that crypto exchanges strengthen their monitoring of transactions and uphold strong user ID requirements. Until now, only the four largest exchanges in South Korea have set up real-name accounts that have been…

Binance-owned Indian exchange WazirX investigated for alleged AML failings

The well-known Indian crypto exchange WazirX, which Binance acquired in 2019, is under investigation for alleged violations of India’s Foreign Exchange Act (FEMA). The probe was publicly announced in an official tweet today from India’s Enforcement Directorate (ED): ED has issued Show Cause Notice to WazirX Crypto-currency Exchange for contravention of FEMA, 1999 for transactions involving crypto-currencies worth Rs. 2790.74 Crore. — ED (@dir_ed) June 11, 2021 In the Indian numbering system, one crore denotes 10 million. The 2,790 crore rupees in cryptocurrency transactions under investigation, then, are worth roughly…

Alleged $3.6B crypto Ponzi’s ‘victims’ still believe the exchange is legit

Victims of an alleged $3.6 billion crypto Ponzi scheme in South Korea are reportedly hampering the progress of a police investigation and a joint lawsuit — as they still believe in the project and hold out hopes of getting a return on their investments. On June 4, Korean law firm Daegon reportedly filed a joint complaint against V Global, its CEO, and three executives on behalf of 130 investors and the Gyeonggi Nambu Police Agency. The Gyeonggi Nambu Police Agency is reportedly investigating V Global for an alleged crypto Ponzi…

Crypto exchange giants mulling India foray despite regulatory uncertainty

Some of the biggest names in the crypto exchange business are reportedly eager to capture India’s cryptocurrency trading market, even as the government is yet to issue clear-cut regulatory policies. According to Reuters, sources say Kraken, Bitfinex and KuCoin are examining the potential for setting up shop in India. Crypto exchange giant Binance entered the Indian market back in 2019, acquiring one of the country’s most recognizable cryptocurrency trading platforms WazirX. The aforementioned trio could also pursue a similar entry strategy by acquiring or forming strategic partnerships with other Indian…

Investment product issuer 21Shares will list Bitcoin ETP on Aquis Exchange

Switzerland-based 21Shares, formerly known as Amun, has said it will make its Bitcoin (BTC) exchange-traded product available to traders in the United Kingdom through the Aquis Exchange. According to an announcement from 21Shares, its Bitcoin exchange-traded product, or ETP, will be available to professional investors on the Aquis Exchange this summer. U.K.-based firm GHCO will be acting as the crypto ETP’s liquidity provider, with 21Shares saying the product would be “engineered like an [exchange-traded fund].” “ETPs trade on exchanges in a similar manner to a listed stock and institutional investors…

CoinShares lists physically-backed crypto ETPs on German exchange

European digital asset manager CoinShares is expanding the reach of its physically-backed exchange-traded product (ETP) portfolio with a new listing in Germany. According to an announcement on Monday, CoinShares Physical Bitcoin (BTC), Ether (ETH), and Litecoin (LTC) ETPs have cross-listed on major German exchange Deutsche Boerse Xetra. The digital asset manager started the year by launching a Bitcoin ETP named CoinShares Physical Bitcoin (BITC) in January. Listed on Switzerland’s SIX Swiss Exchange, each ETP is physically backed by 0.001 Bitcoin. Since then, the CoinShares Physical platform saw the launch of…

FTX crypto exchange seals $210M naming rights deal for esports behemoth TSM

FTX and global esports brand Team SoloMid, oTSM, have signed a multi-year partnership that grants exclusive naming rights to the crypto trading platform. According to a release issued on Friday, the deal is valued at $210 million with the esports brand’s name changing to “TSM FTX.” As part of the deal, TSM FTX will distribute crypto to players and employees with the newly repurposed esports company also purchasing $1 million worth of FTT — the native token of the FTX cryptocurrency exchange. Trading slightly above $34 as of the time…