Bitcoin price dips under $21K while exchanges see record outflow trend

Bitcoin (BTC) sold off into the June 27 Wall Street open as United States equities fell. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $25,000 eyed as bulls’ line in the sand Data from Cointelegraph Markets Pro and TradingView showed BTC/USD following stock markets downhill as the last week of June began. At the time of writing, the pair traded below $21,000, having hit its lowest in three days after a broadly stable weekend. Amid a general lack of bullish conviction among traders, expectations for a further drop stayed present, with Bitcoin…

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Bitcoin price wicks below $20K as whales send 50K BTC to exchanges

Bitcoin (BTC) saw a dramatic change of mood into June 22 as multi-day highs gave way to a fresh dive under $20,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC could see accumulation below key trendline Data from Cointelegraph Markets Pro and TradingView showed BTC/USD abruptly halting its latest gains to hit lows of $19,947 on Bitstamp. The largest cryptocurrency had passed $21,700 the day before, its best performance since June 16, but momentum waned during Wall Street trading. For popular trader and analyst Rekt Capital, there was danger in…

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Cloudflare outage affects multiple crypto exchanges

Cloudflare, a significant infrastructure provider for the internet, recently experienced widespread problems, leaving many crypto exchanges down. The content delivery network (CDN) confirmed via an update posted on Tuesday that it is experiencing issues with its services and network, and a fix is currently being implemented. However, the firm has yet to provide information regarding what went wrong, causing services across the world to come to a halt. Cryptocurrency exchange FTX tweeted that its platform and other sites will be difficult to access for many people, claiming that the exchange is…

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Kazakhstan to let crypto exchanges open bank accounts

In addition to its swift advances toward regulating crypto mining, Kazakhstan will launch a pilot project for crypto exchanges in the special economic zone of Astana International Finance Centre.  The Ministry of Digital Development, Innovations and Aerospace Industry of Kazakhstan Republic announced on Thursday a pilot project of cooperation between the crypto exchanges and some of the local banks. The working group formulated the guidelines for that cooperation, consisting of the representatives of the Ministry of Digital Development, the National Bank, the Financial Monitoring Agency, the Association of Financiers, Astana International…

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Korean exchanges agree on emergency system in case of Terra-style collapse

Korea’s leading exchanges have agreed to form a new emergency system that will spring into action within 24 hours should another Terra-style collapse threaten to come to pass. Under the new system, exchanges will convene to respond to sudden adverse market effects, such as what happened with Terra in May. The agreement came after five of the country’s largest crypto exchanges, Upbit, Bithumb, Coinone, Korbit, and Gopax attended a session at the National Assembly, South Korea’s legislature to address market fairness on June 13, according to a report from local news outlet Daily…

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Binance Continues to Hire Despite Heavy Hits and Lay Offs From Other Exchanges

Every player in the cryptocurrency space has been hit with the crypto winter that’s currently on it the cryptocurrency ecosystem. Despite the effects of the so-called crypto winter, Binance continues to be optimistic about the reversal of fortunes as the cryptocurrency powerhouse announced that it would continue its hiring efforts amidst announcements of laying off from other cryptocurrency exchanges. In a video at the Consensus 2022 festival held in Texas this weekend, CEO and founder of Binance, Changpeng Zhao, shared his thoughts on the crypto winter and how the cryptocurrency…

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SEC reportedly launches investigation into insider trading on exchanges

The Securities and Exchange Commission (SEC) has reportedly launched a probe to discover how crypto exchanges are working to prevent insider trading. FOX Business reported on June 15 that a person with direct knowledge of the SEC’s activities said that the commission had sent a letter to a major crypto exchange requesting information about how the platform protects users from insider trading. The source believes the same letter has been sent to multiple exchanges. It is not clear which exchange or exchanges have received the request, but the news outlet…

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Binance resumes withdrawals as many retail crypto investors monitor exchanges

Major crypto exchange Binance has announced that it had resumed Bitcoin withdrawals after more than three hours amid extreme market volatility.  In an update during what many are calling cryptocurrency’s ‘Black Monday’, Binance said on its website the exchange would be processing Bitcoin (BTC) network withdrawals within “the next couple of hours” following the resumption of activity. The platform announced Monday that it had temporarily paused BTC withdrawals, with CEO Changpeng Zhao saying on Twitter that all user funds were “SAFU.” #Bitcoin network withdrawals have now resumed on #Binance.https://t.co/FhxXi3LeBg —…

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Anchorage forms custody network with five crypto exchanges

Crypto custody firm Anchorage Digital has recently formed an exchange custody network with five digital asset trading platforms to segregate institutional client funds from exchanges into regulated asset vaults.  In an announcement, the custodian mentioned that it has partnered with Binance.US, CoinList, Blockchain.com, Strix Leviathan and Wintermute. According to Anchorage, this will provide institutions with direct access to a wide range of trading pairs. The custody firm also noted that the formation of the custody network allows institutions like Registered Investment Advisors to meet their obligations to their clients in…

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MimbleWimble adds new features for Litecoin, but some exchanges balk

Litecoin is one of the earliest alternative coins (altcoins) that came to light after Bitcoin (BTC). Created in October 2011, it is now the 20th most valuable cryptocurrency, boasting a market capitalization of over $4 billion, according to CoinMarketCap data. The MimbleWimble upgrade was first conceived more than two years ago as part of the Litecoin Improvement Proposal. That was in November 2019, as the network started planning on enhancing anonymity between senders and receivers of a transaction on its network. And now, the MWEB is finally out following approval…

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