Crypto Exchange Bithumb Gearing Up To Go Public on Korean Stock Market: Report
South Korean cryptocurrency exchange Bithumb is reportedly planning to conduct an IPO in the second half of 2025, with Samsung Securities as its underwriter. The move is aimed at increasing the exchange's market share and catching up to its top domestic competitor, Upbit. Bithumb hopes to improve its image and attract more users through the IPO, which is not primarily motivated by funding. The exchange's former chairman, Lee Jeong-hoon, is also making a comeback as a registered director ahead of the possible IPO.
Crypto exchange CoinSpot hot wallet was attacked, hackers made $2.4 million in profit
Cyvers Alerts on X platform stated that the hot wallet of Australian cryptocurrency exchange CoinSpot was attacked, and attackers gained about $2.4 million from two different CoinSpot hot wallets. The attackers exchanged some of the stolen ETH for 24 WBTC, then bridged the exchange to BTC, and exchanged 831 ETH for BTC through the THORChain bridge.
Spot Trading Volume on Centralized Exchanges Reaches Multi-Month High in October
According to CCData and The Block's Data Dashboard, spot trading volumes on centralized exchanges increased in October for the first time in four months. CCData reported a total trading volume of $632 billion, while The Block recorded a lower figure of $516.43 billion. The increase in activity in digital asset markets was attributed to the anticipation of a potential approval of a spot bitcoin ETF and the overall bullish price action of major digital assets. Top-tier exchanges such as Coinbase and Binance also increased their market share of trading activity in the past month.
OPNX Obtains License for Crypto Trading Across EU
OPNX has obtained a virtual asset service provider license from Lithuanian authorities, allowing it to offer spot trading services throughout the European Union. The license signifies OPNX's commitment to regulatory compliance and adherence to the highest security standards. While additional licenses may be necessary for certain EU jurisdictions, OPNX is pursuing them to ensure comprehensive service availability. Despite past controversies, OPNX is determined to redefine its narrative and provide a reliable pathway for bankruptcy creditors to liquidate claims efficiently.
0xScope 2023 CEX Report: Binance accounts for 51.2% in terms of market trading volume, followed by OKX, Bybit and Bitget
According to the TechFlow report by 0xScope, in the 2023 CEX market, excluding Coinbase and Upbit which lack derivative business, Binance accounts for 51.2% of the market trading volume, OKEx accounts for 13.4%, Bybit accounts for 9.6%, and Bitget accounts for 7%.
Data: CEX spot market turnover increased by nearly 60% month-on-month in October, close to the level in April this year
According to The Block data, on November 6th, the trading volume of the CEX spot market in October reached 497.98 billion US dollars, an increase of nearly 60% from September's 311.93 billion US dollars. In addition, Binance's market share in the spot market in October was 40.47%, a decrease from September's 41.7%.
In October, the total transaction volume of Bitcoin and Ethereum on the chain increased by 34.8%, and the spot transaction volume of compliant CEX increased by 55.2%.
The Block Pro data shows that the total transaction volume on the Bitcoin and Ethereum chains, adjusted for October, increased by 34.8% to $196 billion, with Bitcoin chain transactions increasing by 45.7% and Ethereum chain transactions increasing by 20.1%.
Adjusted stablecoin chain transaction volume increased by 19.2% to $554.6 billion; the issued supply decreased by 0.2% to $115.8 billion, with USDT and USDC market shares of 73.2% and 19.6%, respectively.
In October, Ethereum NFT platform transaction volume increased by 2% to $267 million. Blur platform transaction volume has surpassed OpenSea for 9 consecutive months.
In addition, compliant CEX spot trading volume increased by 55.2% to $291.2 billion. Binance has a market share of 69.2%, Coinbase has a market share of 10.7%, BTSE has a market share of 5.8%, Kraken has a market share of 5.6%, and LMAX Digital has a market share of 2.9%.
Coinbase shares fell 5% after hours
Cryptocurrency exchange Coinbase (COIN.O) released financial data showing that third-quarter revenue exceeded expectations, but trading volume declined for the second consecutive quarter. The stock price of the cryptocurrency exchange fell more than 5% in extended trading after the financial report was released, and the current trading price is $84.60.
Coinbase will suspend trading of Moss Carbon Credit (MCO2) tokens
Coinbase has announced that it will temporarily suspend trading of Moss Carbon Credit (MCO2) around 2:00 PM Eastern Time on November 14, 2023, based on recent listing review results. Trading on Coinbase.com (both simple and advanced), Coinbase Exchange, and Coinbase Prime will be suspended. The platform has converted the MCO2 order book to limit order mode, and limit orders can be placed and cancelled, and may be matched.
Backpack Launches Regulated Crypto Exchange in Dubai with VARA License
Backpack, a Solana-based NFT wallet app, has announced the upcoming launch of its regulated cryptocurrency exchange, Backpack Exchange, which has received a Virtual Asset Service Provider license for Exchange Services from the Dubai Virtual Assets Regulatory Authority. The exchange is built around technologies like zero-knowledge proof of reserves and multi-party computation and aims to prioritize investor protection and risk assurance. Backpack Exchange will initially launch in private beta for members of Coral's existing communities and plans to open to the general public in the first quarter of 2024, starting with spot trading of cryptocurrencies and later expanding to derivatives and margin trading.
