Spot trading volume on CEX is expected to surge by more than 83% QoQ in Q4 2023
CryptoRank, an encrypted data analysis platform, published an article on X platform stating that compared to Q3 2023, it is expected that the spot trading volume of centralized exchanges (CEX) in Q4 will increase by more than 83%. Despite the significant increase in trading volume, it is still nearly four times lower than the historical high in Q2 2021.
South Korean exchange CoreDEX announced a $10 million investment from Yusako Group Venture Capital
CoreDEX, a virtual asset exchange in South Korea, announced that it has signed an investment letter of intent with Yusako Group Venture Capital in St. Louis, USA, with an investment amount of $10 million.The purpose of signing the letter of intent is to generate profits through various services such as NFT, token securities (ST), and OTC in addition to cryptocurrency trading using traditional Korean crafts.
Swiss Raiffeisen Schweiz Bank joins SDX digital asset exchange
According to TechFlow news, Raiffeisen Schweiz, a Swiss bank, has joined the world's first fully regulated digital asset financial market infrastructure SDX (SIX Digital Exchange).Werner Leuthard, head of trading at Raiffeisen Switzerland, said: "By joining the SDX ecosystem, Raiffeisen Switzerland expands its footprint and experience in the field of digital assets, aiming to actively contribute to the development of the digital asset industry and product landscape."It is reported that Raiffeisen Group is known as Switzerland's most customer-centric retail bank, with over 2 million cooperative members and 3.66 million customers, making it the second largest participant in the Swiss banking market.SDX is licensed by the Swiss Financial Market Supervisory Authority (FINMA) and is a leader in operating a securities exchange and central securities depository (CSD) using distributed ledger technology (DLT).
HashKey Exchange adds multiple account opening verification methods to optimize the new user registration experience
According to an official announcement, HashKey Exchange has added a new account verification method to provide users with a more convenient experience. Under the current compliance framework, users can choose any of the following methods for identity verification: bank transfer verification, accountant or lawyer verification, and Hong Kong employee verification.It is reported that bank transfer verification requires users to transfer no less than HKD 10,000 or the equivalent in USD to HashKey Exchange for verification. Accountant or lawyer verification allows users to entrust licensed third-party accountants or lawyers for offline verification. Hong Kong employee verification provides guidance for users to conduct one-on-one offline verification at HashKey's office. After successfully opening an account, users can also complete new user tasks and receive a reward of 25 HSK.
Hashkey to Allow Individual and Enterprise Market Makers on Hong Kong Crypto Exchange
Hashkey, a licensed crypto exchange in Hong Kong, is set to allow individual and enterprise market makers to provide liquidity on the platform. Interested parties must trade at least $5 million worth of cryptocurrencies per month and have their business plans reviewed before being invited to sign a contract with the exchange's due diligence team. Market makers will receive commission based on monthly rankings or trading volume, with the highest tier requiring a trading volume of at least $100 million per month. Other Hong Kong-regulated exchanges, such as OSL, have also expanded their services and partnerships since receiving licenses in August.
Binance Launches Pilot Program Allowing Banks to Store Trading Collateral Off-Exchange
Binance has launched a pilot program that enables banks to store trading collateral off-exchange, which the company claims will reduce counterparty risk. Institutions can hold collateral at a third-party bank instead of depositing it to the exchange, allowing them to earn yield while they trade. Binance executive Catherine Chen stated that the exchange has been developing the program for over a year and plans to expand it further in the future. The program replicates a framework common in traditional financial markets, enabling investors to proportion their crypto-asset allocation based on their risk tolerance.
Turkish Crypto Exchange Linked to Premier League Sponsor Hull City at Center of Fraud Scandal
The owner of Turkish crypto exchange Tomya, which sponsors Hull City soccer team, is among 25 people detained in a fraud investigation by the Istanbul Büyükçekmece Chief Public Prosecutor's Office. While there are no specific allegations against Tomya, the firm's affiliation with Hull City has made the story newsworthy in Turkey. The investigation comes as the country prepares to introduce crypto legislation, following an 11,196-year sentence handed out to the individuals behind collapsed exchange Thodex. The investigation into Tomya was reportedly triggered by a complaint from an investor who claimed to have been defrauded of $211,500.
Coinbase's stock price surges after Binance's forced departure from the US
Coinbase's stock price rose by 4% on Monday, reaching its highest level since April 2022 and increasing the year-to-date rally to 260%. The surge in price is attributed to Binance's forced departure from the US, which has resulted in Coinbase's CEO becoming 20% richer. Despite the recent increase, Coinbase's shares are still down 70% from their November 2021 high. Analysts believe that the crypto market can now focus on positive developments such as regulatory clarity and the potential approval of a bitcoin ETF, and that Coinbase may benefit from its overseas derivative trading business and its role as a broker for a U.S.-approved bitcoin ETF. Other pandemic-era market favorites, including Shopify, Roku, and Affirm Holdings, also hit 2023 highs on Monday, but are still down more than 50% from their 2021 peaks. Binance CEO CZ has stepped down as part of a $4 billion settlement with the US, while Binance's Changpeng Zhao has managed to maintain his multibillion-dollar fortune despite a guilty plea.
Vertex’s total trading volume exceeds US$20 billion
Decentralized exchange Vertex announced on X platform that its total trading volume has exceeded 20 billion US dollars since the launch on the Arbitrum mainnet.
Coinbase International Exchange to List Perpetual Future Contracts for Cardano, Chainlink, Dogecoin, and Stellar
Coinbase International Exchange, a subsidiary of Coinbase Global Inc. that serves clients outside of the US, has announced its intention to list Perpetual Future Contracts for four new assets: Cardano (ADA), Chainlink (LINK), Dogecoin (DOGE), and Stellar (XLM). The four trading pairs will be listed on December 30th at 10 am UTC, subject to liquidity conditions. The pairs will be available on both the Coinbase International Exchange and Coinbase Advanced, alongside other cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and XRP. This is an ongoing story, and updates will be provided.
