Ali Baba & PayPal Reject Crypto as a Medium of Exchange

Big investors and business icons are rejecting cryptocurrency as a viable medium for exchange. The market has been struggling to become a “reliable currency” despite several countries legalizing digital currencies and crypto exchanges. Bearish remarks from trend makers have been negatively impacting the crypto market. Bitcoin price (BTC) plummeted to the $8,000 level while the entire cryptocurrency market capitalization dipped to $80 billion in the last two weeks. Jack Ma, executive chairman and founder of Alibaba (NYSE:BABA), has claimed; “Bitcoin is a bubble”. He says the company is not planning to…

No Investors Affected, Hard to Charge Cryptocurrency Exchange UPbit

Join our community of 10 000 traders on Hacked.com for just $39 per month. Experts in the cryptocurrency sector of South Korea have stated that it will be difficult for the government and local financial authorities to file charges against UPbit, South Korea’s biggest cryptocurrency exchange, given that no investors were affected. Funds Real, No Investors Affected Last week, CCN reported that UPbit was raided and investigated by local police, Korea Financial Intelligence Unit (KIU) and Financial Services Commission (FSC) due to suspicions of fraud. Local financial authorities accused UPbit…

Fiat Exchange LMAX Launches Crypto Trading to ‘Further Legitimize Market’

UK trading platform LMAX has announced its entrance into the cryptocurrency market, launching an exchange targeting institutional investors, Financial Times reports today, May 21. LMAX, which has offered fiat currency trading since its inception in 2010, plans to cement the legitimacy of the cryptocurrency arena as institutional interest continues to grow. “We are furthering the legitimization of the crypto currency [sic] market by offering institutions a platform on which to acquire, trade and hold crypto currencies securely with high quality, deep liquidity,” CEO David Mercer said in a statement quoted…

Just Resigned CEO of World’s Largest Crypto Exchange OKEx Joins Rival Exchange Huobi

The outgoing CEO of OKEx crypto exchange has joined rival exchange Huobi just days after resigning from his former post, Cointelegraph Japan reports today, May 21. Li Shufei, also known as Chris Lee, left his roles as CEO of OKEx and CFO of parent operator OkCoin on May 14, reportedly to “start a new life.” Lee is now joining Huobi as Board Secretary and VP of International Business Development, effective May 18. Among many tasks, Lee will support Huobi’s global business development (including Japan, Korea, the Middle East and APAC),…

Former OKEx Chief Joins Rival Cryptocurrency Exchange Huobi

Chris Lee, the former CEO of Hong Kong-based crypto exchange OKEx, has announced he is joining rival platform Huobi as its vice president of global business development. According to an announcement by Singapore-based Huobi on Monday, Lee will head the group’s global mergers and acquisitions strategy and supervise international development as the exchange moves towards global expansion. “I am a big believer in blockchain technology and view exchanges as the heart of the industry,” Lee said in the announcement. The new appointment comes just a week after Lee announced his resignation…

Hacked Crypto Exchange Coincheck Confirms Removal of Four Anonymity-Focused Altcoins

Recently hacked Japanese crypto exchange Coincheck will end trading for four privacy-oriented cryptocurrencies, Monero (XMR), Zcash (ZEC), Dash (DASH), and Augur (REP), Cointelegraph Japan reported May 18. Following reports from back in March, the exchange has now officially confirmed the removal of the four anonymity-focused coins will come into effect June 18. According to Coincheck’s blog, the exchange will remove the four cryptocurrencies to comply with counter-terrorist financing (CFT) and anti-money laundering (AML) measures recently issued by Japan’s financial regulator, the Financial Services Agency (FSA). The FSA has been especially active…

Asian Cryptocurrency Trading Roundup: Indian Exchange Listing Lifts Zilliqa

While crypto markets are still open on weekends things predictably slow down a little. Activity has been relatively flat over the past two days and no momentum has built in either direction. Fortunately there has been no crash back down to early April levels, but on the flip-side the bulls could not push total market capitalization back over $400 billion either. Bitcoin has wallowed around $8,300 for a few days with no gains or losses on yesterday’s levels. Altcoins have been a mixed bunch, some falling further while others have…

Binance Coin Price Rallies 21% after Exchange Doubles Referral Bonus

Join our community of 10 000 traders on Hacked.com for just $39 per month. The Binance Coin price (BNB) experienced a double-digit percentage rally on Friday after its issuer — cryptocurrency exchange giant Binance — announced that it was doubling the referral bonus for users holding a large number of BNB. BNB Price Makes Double-Digit Rally Despite Bearish Market BNB spent most of the previous day trading between $12.25 and $13.00, but at approximately 10:15 UTC the Binance Coin price began to spike. By 12:30 UTC it had reached as…

Israel’s Public Stock Exchange Unveils Blockchain Securities Lending Platform

Join our community of 10 000 traders on Hacked.com for just $39 per month. The Tel Aviv Stock Exchange (TASE) has announced the development of a blockchain-powered securities lending platform that the bourse operator believes will enable direct lending among all major financial instruments in the country. Calling it ‘one of the first projects of its kind in the world’, the TASE says its new ‘Blockchain Securities Lending (BSL)’ project will fundamentally transform the domestic market by harnessing several of blockchain technology’s core facets including direct peer-to-peer transactions, smart contracts…

Tel Aviv Stock Exchange Develops ‘First Of A Kind’ Blockchain Lending Platform

The Tel Aviv Stock Exchange (TASE) has developed a “first of a kind” blockchain-based securities lending platform, according to a press release May 16. The new platform was completed in partnership with Israeli fintech firm The Floor, global professional services company Accenture, and Intel. The exchange will reportedly create one central platform called Blockchain Securities Lending (BSL), which aims to revolutionize the securities lending market in Israel “by enabling direct lending among all the major financial instruments.” The platform will be designed as a “one-stop-shop” for all operations with securities…