Cryptocurrency exchange Binance announced a temporary freeze on withdrawals on Wednesday morning. The suspension took place across multiple networks as a result of a technical issue by a third-party provider, according to Binance. In a tweet, the exchange said the incident took place around 7:00 am UTC and was resolved by the team within an hour. Earlier today, around 07:00am UTC, #Binance temporarily closed withdrawals for multiple networks due to an issue with a third-party technical provider. Our team responded quickly, resolving the issue within 1-hour. Funds are SAFU. Thank you for your patience and understanding. — Binance (@binance) August …

According to an Aug. 16 entry in the FCA’s Financial Services Register, ‘FORIS DAX UK LIMITED’ has been registered to conduct "certain cryptoasset activities", whilst also obtaining Money Laundering Regulation Status. FORIS DAX UK LIMITED is listed as the registered UK trading name for Crypto.com. Details on the registration are scarce at the time of writing and Crypto.com and the FCA are yet to comment on it, however, the FCA website suggests that businesses carrying on crypto asset activity in the UK must register to be compliant with money laundering, terrorist financing and transfer of funds regulations. As defined by …

Bitcoin (BTC) showed weakness on Aug. 15, posting a 5% loss after testing the $25,000 resistance. The move liquidated over $150 million worth of leverage long positions and has led some traders to predict a move back toward the yearly low in the $18,000 range. The price action coincided with worsening conditions for tech stocks, including Chinese giant Tencent, which is expected to post its first-ever quarterly revenue decline. According to analysts, the Chinese gaming and social media conglomerate is expected to post quarterly earnings around $19.5 billion, which is 4% lower than the previous year. Moreover, on Aug. 16, …

United States-based cryptocurrency exchange Coinbase has announced it will be temporarily suspending certain token deposits and withdrawals when Ethereum’s core developers transition the blockchain to proof-of-stake, or PoS. In a Tuesday blog post, Coinbase product manager Armin Rezaiean-Asel said during the Merge event, the crypto exchange will “briefly pause” deposits and withdrawals of Ether (ETH) and ERC-20 tokens “as a precautionary measure” to handle the migration. The exchange also warned users against scammers offering ETH2 tokens, saying crypto users did not need to take additional action to receive staked ETH prior to the Merge. “Although the Merge is expected to …

Crypto exchange Huobi Global announced the suspension of derivatives trading in New Zealand. The statement from Huobi said the new restrictions against derivative offers are in light of compliance with local regulations. Users in New Zealand will no longer have access to derivative trading services, which include coin-margined futures and swaps, USDT-margined contracts, options, and Exchange Traded Products (ETPs). The new restrictions will take effect on Aug. 23, 2022. On the same day, Huobi Global will no longer accept users with New Zealand KYC, along with IP addresses from the area. Users wishing to close out active positions can only …

The market capitalization of Tether (USDT) tokens has increased by nearly $2 billion since the U.S. Treasury Department imposed sanctions on cryptocurrency mixer Tornado Cash. The Office of Foreign Asset Control essentially barred Americans from using Tornado Cash on Aug. 8, blacklisting 44 USD Coin (USDC) and Ether (ETH) addresses connected to the service to a list of Specially Designated Nationals and Blocked Persons (SDN). OFAC alleges that Tornado Cash was used by individuals and criminal organizations to launder over $7 billion worth of cryptocurrency since 2019. Funds linked to North Korean Lazarus Group hackers are also believed to have …

Embattled crypto lender Celsius Network is on track to run out of money by October, according to the firm’s latest Chapter 11 documents. Filed on Aug. 14 to the U.S. Bankruptcy Court of the Southern District of New York, Celsius highlighted that it is expected to reach negative liquidity by October 2022 to approximately $34 million. The lending platform, which held the trust of many across the world with life savings and retirement funds, was revealed to be in a much worse financial position than originally suggested in July. Court documents revealed this week that Celsius’ three-month cash flow forecast, …

Brazilian brokerage giant XP Inc has officially launched its crypto trading platform ‘XTAGE' in Brazil, bringing a potential 3.6 million users to the crypto markets. The news was broke in an Aug. 15 post by the Nasdaq Exchange Twitter account, noting that XP had rung the exchange's “Opening Bell” to celebrate the launch of the XTAGE digital assets trading platform. .@xpinvestimentos joins us for the Opening Bell to celebrate the XTAGE digital assets trading platform. Leveraging @NasdaqExchange’s technology, XTAGE represents a key milestone in democratizing access to the digital assets market in Brazil. pic.twitter.com/DS3RXtWVpb — Nasdaq Exchange (@NasdaqExchange) August 15, …

Bitcoin (BTC) has been witnessing a tough battle between the bulls and the bears near the $25,000 level. A clear winner may not emerge in the short term due to a lack of a catalyst and because there is no major macro economic data scheduled for this week in the United States. Data points from Asia or Europe may increase volatility, but they are unlikely to start a new directional move. Anthony Scaramucci, founder and managing partner of Skybridge Capital, in an interview with CNBC, advised investors to ride out the current uncertainty in cryptocurrencies and “stay patient and stay …

The Astana Financial Services Authority, or AFSA, an independent financial regulator in Kazakhstan, has taken a step towards licensing major cryptocurrency exchange Binance to operate in the country. In a Monday announcement, AFSA said it had granted in-principle approval toward Binance operating as a digital asset trading facility and providing custody services in the Astana International Financial Centre, a financial hub in the capital city of Nur-Sultan. In a Monday blog post, Binance said it was required to complete the application process for approval, which the crypto exchange expected to do “in due course.” According to AFSA CEO Nurkhat Kushimov, …

An advanced Bitcoin exchange says it offers the fastest API on the market — paving the way for enhanced and automated crypto trading. HitBTC says its offering is geared towards professional traders who want to stay on top of the latest market fluctuations even while they sleep. APIs ensure transactions can take place 24 hours a day, seven days a week — fitting given how the crypto industry never stops. Not only can this allow professionals to take a much-needed break away from their screens, but it gives them a chance to power their energy into other activities. HitBTC told …

Cryptocurrency exchange Zipmex has gotten a chance to sort out liquidity issues as a court in Singapore has granted the firm with more than three months of creditor protection. Singapore’s High Court has ruled to give each of the five Zipmex entities a moratorium until Dec. 2, 2022 to come up with a restructuring plan, Bloomberg reported on Monday. The action aims to protect Zipmex from potential creditor lawsuits during the moratorium period after the exchange abruptly halted crypto withdrawals on its platform in mid-July. The cryptocurrency has since resumed partial withdrawals from Zipmex’s trade wallet but is yet to …