Tag: Exchanges

Binance removes $165 million worth of BNB from circulation in largest-ever token burn

Binance removes $165 million worth of BNB from circulation in largest-ever token burn

Crypto exchange Binance has burned over 3.6 million BNB tokens, taking out about $165.8 million in tokens from circulation, the exchange announced on Monday.  This 14th quarterly BNB token burn is the highest one ever carried out by the exchange. When it launched BNB, Binance committed to burning 100 million BNB — roughly half of […]

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Russian Crypto Exchange Shuts Down Amid Accusations of Exit Scam

Russian Crypto Exchange Shuts Down Amid Accusations of Exit Scam

The Russian cryptocurrency exchange Livecoin has shut down amid accusations that it has pulled an exit scam. Customers are unable to withdraw their funds and have been asked to provide extensive identifying information which they fear would lead to identity theft. The exchange claims that it was hacked in December. Livecoin Crypto Exchange Closes Down […]

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Russian crypto exchange Livecoin is shutting down after a claimed attack that caused a $3.3 million loss to users

Russian crypto exchange Livecoin is shutting down after a claimed attack that caused a $3.3 million loss to users

Russian cryptocurrency exchange Livecoin has announced that it is shutting down after witnessing a “carefully planned attack” last month. “Our service has been damaged hard in technical and financial way,” said Livecoin on Saturday. “There is no way to continue operative business in these conditions, so we take a hard decision to close the business […]

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Coinbase to ‘decompose’ its application server in wake of recent outage

Coinbase to ‘decompose’ its application server in wake of recent outage

Coinbase says it will divide up its application server into separate services in an effort to “reduce the blast radius” following an outage last week that impacted the API used for the exchange’s website and mobile apps.  The Coinbase team said Friday that by “decomposing” its application server, it could have different scaling profiles for […]

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This month’s crypto exchange volume has already broken December’s record

This month’s crypto exchange volume has already broken December’s record

Trade volume on the world’s major crypto exchanges this month has already exceeded last month’s total, according to data compiled by The Block.  January’s high is $468.7 billion as of publication — up $89.4 billion (23.6%) compared to the previous month. Binance currently holds 54.7% of January’s trade share, with Coinbase (14.1%) and Kraken (6.4%) in […]

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Coinbase Issues a Public Apology to EU and UK Customers — Did Not Address Its Global Issues

Coinbase Issues a Public Apology to EU and UK Customers — Did Not Address Its Global Issues

Cryptocurrency exchange Coinbase published a statement addressing their U.K. and E.U. customers, apologizing for system outages and account restrictions. The company also recognized their customer support “has not been at the levels” expected. High Flow of Incoming Customers According to the public apology, the U.S.-based crypto company said customers from both regions have been facing […]

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Etoro Warns Customers to Brace for Suspension of Crypto Buy Orders due to an ‘Unprecedented Demand’

Etoro Warns Customers to Brace for Suspension of Crypto Buy Orders due to an ‘Unprecedented Demand’

Etoro, a trading and investing platform, has warned its customers to brace for possible limitations on their buy orders this coming weekend. The company says it might be forced to take this and other steps if the anticipated and unprecedented surge in demand for cryptos occurs. Unprecedented Demand and Limited Liquidity The Israeli company’s warning […]

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Bakkt’s SPAC shows how frothy the crypto markets have become

Bakkt’s SPAC shows how frothy the crypto markets have become

Quick Take Some market insiders think Bakkt’s ambitious SPAC reflects the frothiness of both the crypto and SPAC markets. It could lead to a flurry of other SPACs across the crypto industry. This feature story is available to subscribers of The Block Daily. You can continue reading this Daily feature on The Block.

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