Bain-Backed Crypto Exchange Seed CX Is Expanding to Asia

Chicago-based cryptocurrency exchange Seed CX, which Bain Capital backed last year, is expanding to Asia. The institution-focused exchange announced Thursday that it has teamed up with Singapore-based trading infrastructure technology provider Hydra X for the effort. The partnership will allow Seed CX to integrate its platform with Hydra X’s trading platform Sigma, which is currently in beta. Once the integration is complete, Seed CX users will be able to view prices, trade and monitor their portfolios on the Sigma platform, as well as have access to a fiat-cryptocurrency gateway, according…

Mt. Gox Is Taking a Step Towards Paying Out Creditors

The long-defunct bitcoin exchange Mt. Gox is finally moving toward settling creditors’ accounts in cryptocurrency or cash. The exchange’s rehabilitation trustee, Nobuaki Kobayashi, announced Tuesday that he had either approved or disapproved creditors’ claims and had also notified the Tokyo District Court about the step taken. In the next few days, the trustee said he will declare the results of his decisions on the claims and creditors will be notified by various means. For instance, those who filed claims through the Mt. Gox online filing system will be able to check…

Crypto Exchange Bithumb to Reduce Staff By Up to 50%

Bithumb, the largest cryptocurrency exchange in South Korea, plans to cut its staffing levels by up to 50 percent, according to a CoinDesk Korea report issued Monday, a move that would reduce its number of employees from 310 at the start of March to around 150. When reached, an official at the company confirmed the 50 percent figure, adding that it expects those departing will mostly be employees who already want to leave the company. “Voluntary retirement is part of our support program for former employees and is intended to provide assistance and…

Coinbase Pro Has Good and Bad News Regarding Fees for Traders

Coinbase Pro is changing its fee structure later this week, with bottom tier traders seeing a hike and higher value clients paying less. The San Francisco-based cryptocurrency exchange announced the news in a blog post on Friday, saying that, starting March 22, market makers and takers who fall under the pricing tier of up to $100,000 will be subject to total fees of 0.40 percent, as compared to up to 0.30 percent (taker only) currently. The $100,000 to $1 million tier will stay with the current total fee of 0.30 percent,…

Riot Blockchain to Launch Regulated Crypto Exchange in the US

Riot Blockchain is planning to launch a regulated crypto exchange in the U.S. The publicly traded U.S. company that has faced regulatory issues for a sudden pivot to blockchain, revealed in a filing with the U.S. Securities and Exchange Commission (SEC) Friday that the new entity will be called called RiotX and will develop three main services: banking, trading and a digital wallet. The application follows the firm’s change in business focus after almost two decades in biotech, when it rebranded to Riot Blockchain from Bioptix and shifted focus to crypto mining…

‘No Change’ to Bitcoin Futures Plans, CME Says, as Cboe Pulls Back

It’s business as usual for CME Group’s bitcoin futures market, despite a retrenchment by rival derivatives exchange operator Cboe Global Markets. Contacted by CoinDesk Friday, a spokesperson for CME said the exchange has “no changes to announce re our bitcoin futures contract” and declined to comment on Cboe’s pullback. The affirmation is notable in light of the news Thursday that Cboe will not add a bitcoin futures contract for trading in March. This means that after the last currently traded futures expire in June, this market will essentially come to…

Canada Proposes Regulatory Framework for Cryptocurrency Exchanges

Canadian financial regulatory authorities are considering putting in place rules for cryptocurrency exchanges in the country. The Canadian Securities Administrators (CSA) and the Investment Industry Regulatory Organization of Canada (IIROC) published a consultation paper on Thursday, seeking input from the fintech community on how regulatory requirements can be developed for cryptocurrency platforms. “The emergence of digital and crypto assets continues to be a growing area of interest,” said Andrew J. Kriegler, president and CEO of the IIROC in a separate statement on Thursday, adding: “We must adapt to innovation, and provide…

Court Rules Quoine Exchange Liable for Reversing Bitcoin Trades Worth Millions

The Singapore International Commercial Court has ruled against cryptocurrency exchange Quoine after it reversed trades for a total of 3,092 bitcoins (BTC) by crypto market maker B2C2 two years ago. The court published a case summary Thursday, stating that it found Quoine liable for the “breach of contract and breach of trust” in reversing B2C2’s trades made at an “abnormal” exchange rate back in April 2017. B2C2 had made seven trades in which it sold ether (ETH) at an exchange rate of 10 BTC per token – approximately 250 times higher…

Binance’s Trust Wallet Adds Support for XRP, Credit Card Payments

Cryptocurrency exchange Binance’s official wallet, Trust Wallet, now lets users buy cryptos with credit cards. The new payment option is being offered in partnership with Israel-based payments processor Simplex, according to an announcement from Binance on Tuesday. At the same time, the exchange said, Trust Wallet is adding support for XRP, the third largest cryptocurrency by market capitalization. Trust Wallet users can now, therefore, purchase XRP, bitcoin (BTC), bitcoin cash (BCH), litecoin (LTC) and ether (ETH) with “major” credit and debit cards. The announcement did not specify which cards are…

Revolut App Now Lets Users Auto-Trigger Cash and Crypto Exchanges

Mobile finance app Revolut has launched a new feature allowing users to “auto-exchange” cash and cryptocurrencies. The firm announced Tuesday that its over 4 million users can now automatically exchange, say, U.S. dollar (USD) to bitcoin (BTC) or ether (ETH) to XRP, based on a pre-set target rate. Fiat-to-fiat exchanges are also possible. Once a target rate is set in the app – either above or below current rates – Revolut said the exchange will trigger once the target has been reached. It warns, though, that the achieved rate could be…