Coinbase counters WSJ claim its Risk Solutions group engaged in $100M proprietary trade

The Wall Street Journal and Coinbase are having differences over definitions. The newspaper published an alleged account of the digital asset exchange’s trading activities earlier this year that it claims amount to proprietary trading. Coinbase responded in a blogpost that it had done no such thing. Relying on information supplied by “people at the company,” the WSJ wrote on Sept. 22 that Coinbase made a $100-million transaction that was viewed inside the company as a test trade by the company’s Risk Solutions group, which had been formed for the purpose…

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3 ways to trade Bitcoin and altcoins during a bear market

Markets are scary right now, and while the situation is likely to worsen, it doesn’t mean investors need to sit out and watch from the sidelines. In fact, history has proven that one of the best times to buy Bitcoin (BTC) is when no one is talking about Bitcoin. Remember the 2018–2020 crypto winter? I do. Hardly anyone, including mainstream media, was talking about crypto in a positive or negative way. It was during this time of prolonged downtrend and lengthy sideways chop that smart investors were accumulating in preparation…

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Iran Import Association demands regulatory clarity to use crypto in foreign trade

In the aftermath of the first officially reported crypto payment in the sanctioned country’s foreign trade, Iran’s importers point to the necessity of stable regulations to continue trade via cryptocurrencies.  On Saturday local reports cited the head of Iran’s Importers Group and Representatives of Foreign Companies (Import Association), Alireza Managhebi, who emphasized that stable regulations and infrastructure should be prepared to be able to successfully use cryptocurrencies for imports: “The question is, has the government developed consistent regulations for the cryptocurrency uses so that they will not change within two months…

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3 strategies investors might use to trade the upcoming Ethereum Merge

The Ethereum network’s long-awaited transition from proof-of-work to proof-of-stake is set to occur from Sept 15 to 16 and for the last year, traders and analysts have been discussing various outcomes for the upgrade and possible trading strategies.  Let’s take a look at three options investors and traders have. Hodl ETH to earn the expected “hardfork” token The first strategy is relatively simple. Traders can simply buy Ether (ETH) in the spot market and hold it in their exchange wallet, or whatever platform/wallet will support forked tokens, and wait for…

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How blockchain technology can revolutionize international trade

Since time immemorial, technological innovations have shaped the structure of commerce and trade. The discovery of electricity encouraged mass production and the advent of steam engines ushered in an era of mechanized production.  From information to communication, technology has been used everywhere to make life easier. For this reason, blockchain technology has been tapped by many as the next big thing, considering its use cases which cut across numerous industry verticles. Mainly used in keeping records of transactions, blockchain technology is a type of distributed ledger technology. Blockchain makes a…

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Zipmex resumes withdrawals for trade wallets

Cryptocurrency exchange Zipmex has resumed withdrawals from its trade wallet after two days, but said transfers, deposits and trade will continue to be disabled from its Z Wallet. In a Friday announcement, Zipmex said its Thailand-based users could make withdrawals from its trade wallet, with the function expected to be “re-enabled this evening” for clients in other countries. The crypto exchange has had withdrawals disabled since Wednesday, citing a “combination of circumstances” beyond its control, including the recent market volatility. “Ever since the black swan events surrounding the crypto space Zipmex…

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Korean crypto startup Uprise to compensate investors after disastrous LUNC short trade

South Korean crypto investment company Uprise plans to compensate investors for damages incurred during its futures bet on Luna Classic (LUNC) — a token that was built on the ruins of the failed Terra ecosystem.  Uprise is making arrangements to compensate 40% of the loss incurred by customers tied to its disastrous short bet on the token, according to the Korean newspaper Soul Economic Daily. The short position was placed in May using client funds that were deposited in a $20.3 million (26.7 billion won) discretionary investment vehicle. As reported…

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Tech trade group calls for regulatory clarity, claiming crypto job losses threaten US interests

The tech trade group Chamber of Progress called on members of the United States Senate and House of Representatives for regulatory clarity in the crypto space in an effort to prevent firms from leaving the country. In a Wednesday letter addressed to eight committee chairs in the House and Senate, Chamber of Progress financial policy director Janay Eyo urged Congress to consider moving forward on “substantive legislation to ensure the future of our nation’s crypto industry,” citing concerns about jobs and the country’s position as a leader in global finance.…

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Binance ban off the cards, says Philippine trade and industry department

A proposal to ban global cryptocurrency exchange Binance from operating in the Philippines will not gather steam due to a lack of regulations towards cryptocurrencies in the country. The Philippines’ Department of Trade and Industry (DTI) has cited no clear guidelines set out by the country’s central bank, Banko Sentral ng Pilipinas (BSP), as a dead-stop after a lobbying group called for the prohibition of Binance in early July. Local think tank Infrawatch PH had asked the DTI to investigate Binance for the promotion of its services and offerings, which…

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Bitcoin Jumps 5%, Why BTC Could Offer Trade Openings On Dips

Bitcoin gained pace and cleared the $19,500 resistance against the US Dollar. BTC is now facing resistance and might correct lower to $19,500 in the short-term. Bitcoin gained pace above the $19,500 and $19,600 resistance levels. The price is now trading above the $20,000 level and the 100 hourly simple moving average. There was a move above a key bearish trend line with resistance near $19,460 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair tested the $20,500 resistance zone and might correct in the…

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