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Nasdaq-Listed Eqonex Shuts Down Crypto Exchange Due to Low Volume, 'Intense Competition'
The company will redirect resources toward its crypto custody and asset management businesses from here on.
Investors Ask Asian Crypto Exchange's CEO To Step Down, Bankrupt Exchange In Potential Fundraising Talks
Bloomberg reported that Singapore's High Court granted Asian crypto exchange Zipmex Pte, Zipmex more than three months of creditor protection until December 2. The company filed for bankruptcy protection in July and capped withdrawals last month after exposure to troubled crypto lender Babel Finance hurt its finances. Some shareholders and potential investors in Zipmex are urging CEO Marcus Lim to step down over management decisions that led to a severe cash crunch, Bloomberg reported citing people familiar with the matter. Related: This Asian Crypto Exchange To Partially Resume Bitcoin, Ether Withdrawal: Report. One significant Zipmex shareholder has written to Lim asking him to resign, citing a loss of trust among partners and the fallout from the Babel exposure, the report mentioned. "The internal matter of senior executive positions (including responses to this letter) is being handled by the board and shareholders," Lim said in a statement to Bloomberg. "We will deal with this privately and after resolving the operational issues," Lim added that the management team is focused on executing the company's recovery plan. As the Asian crypto exchange allowed clients to withdraw some tokens, complete easing would require a capital infusion. Potential investors for proposed fundraising want Lim to resign before injecting capital. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
$BLOK #Bloktopia #Exchange #blokarmy [twitter.com] [pbs.twimg.com]
$BLOK #Bloktopia #Exchange #blokarmy https://twitter.com/bloktopia/status/1559100730702807041/photo/1 https://pbs.twimg.com/media/FaMHycxXoAAUuMh.jpg:largeBloktopia•
Dogecoin, Shiba Inu Struck Last-Minute Gains But This Token Of A Bankrupt Exchange Was Week's Best Performer With 180% Surge
The native token of bankrupt crypto lender Celsius Network (CRYPTO: CEL) was the biggest gainer last week, gaining 181% over seven days. The token’s massive rally was largely fuelled by a retail-driven short squeeze, with traders following the "#CELShortSqueeze" hashtag on Twitter. Top Gainers of Week Ending Aug 15, 2022 (Data via CoinMarketCap) Cryptocurrency 7-Day % Change (+/-) All-Time High Value/Date Reached % Change (+/-) Since All-Time High Celsius (CEL) +181% $$8.05 On June 02, 2021 -48% Ankr (ANKR) +40% $0.213 On April 16, 2021 -77.9% Nexo (NEXO) +34% $4.07 On May 12, 2021 -75% Shiba Inu (SHIB) +21.72% $0.00008616 On Oct. 28, 2021 -81% Huobi (HT) +21% $39.66 On Jan. 30, 2019 -70% CEL Short Squeeze Retail traders have sent CEL on a gargantuan rally since the beginning of the short squeeze movement last month. As per data from Benzinga Pro, CEL has rallied over 440% over the last 30-days. Nobody can ignore this. #CelShortSqueeze pic.twitter.com/Kfrq8BueHK — David Ainsworth (@DavidAinsworth_) August 13, 2022 Binance Invests In ANKR The native token of the Ankr (CRYPTO: ANKR) protocol rallied 50% on Aug. 12 after crypto exchange Binance announced a strategic investment in the DeFi platform. Binance said the funds would go towards ramping up the work on Ankr’s remote procedure call (RPC) service and building out its Web3 developer suite. Welcome @ankr to the #Binance Labs Family! ICYMI — Ankr is a decentralized infrastructure and cross-chain staking DeFi platform that aims to make Web3 accessible for everyone.https://t.co/hvtYv43xGJ — Binance Labs Fund (@BinanceLabs) August 11, 2022 At press time, ANKR was trading at $0.046, up 0.9% over the last 24 hours. Nexo Launches Pro-Trading Platform Blockchain-based lending platform Nexo (CRYPTO: NEXO) has launched a new trading platform aimed at advanced cryptocurrency traders. At press time, NEXO was trading at $1.02, up 34% over the last seven days. The only #CeFi I see building is #NEXO. The past 2 months we have seen bankruptcy with other platforms (you know who), traders overcollateralize, etc. But what does $NEXO do? They launch a new pro-trading platform similar to #FTX. Another source of revenue, hats off to them! pic.twitter.com/kP2SHXgfH6 — CryptoSEA | SouthEastAsia.eth (@PandaAsiaStreet) August 13, 2022 Meme Coin And Alt Season Imminent? Meme coin Shiba Inu (CRYPTO: SHIB) rallied 37% in the last day alone, pushing it into the top performing coins of the week. Dogecoin (CRYPTO: DOGE) also recorded a 10% gain over the last day, prompting market participants to speculate that an alt season could be on the cards as Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) posted subdued gains. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Uzbekistan Cracks Down on Unlicensed Crypto Exchanges
Just one cryptocurrency exchange in Uzbekistan has been granted a license so far. Uzbek residents are urged by the NAPP
Indian Authorities Imposed a Frozen Order on Vauld Exchange Assets
The ED is investigating more than ten crypto exchanges in India. The move on Vauld comes after a Singapore court
Huobi Chief in Talks to Sell $1 Billion Stake in Crypto Exchange: Report
Sam Bankman-Fried and Justin Sun are reportedly among investors looking to acquire a majority stake in crypto exchange Huobi Global.
Crypto Exchange Binance Freezes $450,000 From Curve Finance Hack
Binance CEO today reported that the crypto exchange managed to recover roughly 83% of the funds stolen from Curve Finance on Monday.
Asset manager Abrdn becomes biggest external shareholder in digital-assets exchange Archax
Abrdn, which manages more than $619 billion in assets, has become the largest external shareholder in Archax. The post Asset manager Abrdn becomes biggest external shareholder in digital-assets exchange Archax appeared first on The Block.
Crypto Exchange Zipmex Sanctioned Limited Withdrawal
Zipmex restored users’ access to their balances, allowing them to withdraw 0.08 ETH. On August 16, users will also be
Huobi founder in talks to sell majority stake in crypto exchange: Bloomberg
Leon Li, founder and CEO of crypto exchange Huobi, is reportedly in talks with investors about selling a controlling stake in the company. The post Huobi founder in talks to sell majority stake in crypto exchange: Bloomberg appeared first on The Block.