Crypto exchange KuCoin found itself at the center of discussion when a sub-community of Crypto Twitter started warning investors about an incoming ban on funds withdrawal. KuCoin CEO, Johnny Lyu, was, however, quick to dismiss the unvetted rumors before they picked up steam. Prominent crypto figures on Twitter, including trader @KongBTC and blockchain investigator @otteroooo, requested their followers to withdraw all of their funds from the KuCoin while claiming that the exchange may soon stop all users from withdrawing funds. WITHDRAW FROM KUCOIN RIGHT NOW Not a drill no time for thread like and retweet to spread the message otter …

Cryptocurrency exchange Voyager Digital announced Friday that it was temporarily suspending trading, deposits, withdrawals and loyalty rewards. “The failure of a borrower, Three Arrows Capital, to repay a substantial loan from us makes this the right path forward,” Voyager Digital CEO Stephen Ehrlich said on Twitter soon after the service suspension went into effect. “This decision, while far from optimal, will give us time to work to strengthen our balance sheet, a necessary condition to protect assets and preserve the future of the Voyager platform we have built together,” Ehrlich continued. A statement issued by the company said it has …

FTX US has inked a deal with BlockFi that will give the crypto derivatives exchange the option to purchase the lending firm. In a Friday Twitter thread, BlockFi CEO Zac Prince said the crypto lending firm had signed agreements with FTX US for a $400-million revolving credit facility as well as the option to acquire BlockFi “at a variable price of up to $240 million based on performance triggers.” According to the CEO, the deal was reached as part of an effort “to bolster liquidity and protect client funds” at BlockFi. The agreements are still subject to shareholder approval. Prince …

Bitcoin dropped 56.2% in the second quarter of 2022, according to crypto analytics platform Coinglass. That makes it Bitcoin’s worst quarter since the third quarter of 2011 when BTC price fell by 67%. A large part of the damage was done in the month of June when Bitcoin plunged 37%, the worst monthly drawdown since September 2011. It is not all gloom and doom for crypto investors. On June 29, JPMorgan strategist Nikolaos Panigirtzoglou said that the “Net Leverage metric” suggests that crypto’s deleveraging may be on its last legs. The eagerness of crypto companies with stronger balance sheets to …

Amid the recent volatility in the crypto market affecting investments and stock prices, many firms made significant staff cuts in the last month while others continued hiring. In June, major crypto exchange Gemini was among the first to reportedly cut 10% of its employees amid the bear market, saying conditions were “likely to persist for some time.” Coinbase and Crypto.com followed, announcing plans to reduce staff by 18% and 5%, respectively. Coinbase CEO Brian Armstrong cited the so-called crypto winter as part of the reason for the cuts, but also stated the firm had been growing “too quickly.” Market conditions …

Things are looking pretty volatile in crypto right now — and as the bear market sets in, spot trading volumes are looking pretty sluggish. But with the industry maturing in recent years, futures trading has become increasingly available — and figures suggest demand has remained strong despite the current downturn. Through futures contracts, crypto enthusiasts can enter into positions when they believe prices are going to fall further — a compelling alternative for those who fear HODLing will cause the value of their savings to fall. But according to CoinEx, such crypto derivatives are often inaccessible for everyday consumers — …

The ongoing crisis of cryptocurrency lending and the associated crypto market decline once again confirms the importance of self-custody or the "true ownership" of crypto by its holder, according to several industry experts. In June, the cryptocurrency market capitalization plummeted below the $1 trillion mark, with Bitcoin (BTC) nearing its worst monthly losses since 2011. It remains to be seen whether crypto lending would survive the current crypto winter. Still, several industry executives agree that investors can protect their assets forever by simply moving them to self-custodial or noncustodial wallets. It’s crucial to remember that crypto financial services providers like …

Crypto exchange platform Coinbase denied reports alleging that the company is selling its customer information to the United States Immigration and Customs Enforcement (ICE), an agency that works under the country’s Department of Homeland Security. On Thursday, news that Coinbase has been providing geolocation data to ICE has circulated online. Because of this, Twitter users like Solobase Mac were shocked and noted that they “didn't sign up for that.” They tweeted: Now why would they be doing that? So basically invasion of privacy. Sells with out knowledge? They will be owing me 10 million for that one. I didn’t sign …

The Financial Action Task Force (FATF) reported that 11 out of 98 responding jurisdictions have started enforcing its standards on Combating the Financing of Terrorism, or CFT, and Anti-Money Laundering, or AML. In an update released Thursday on the “Implementation of the FATF Standards on Virtual Assets and Virtual Asset Service Providers,” the FATF reported the “vast majority” of jurisdictions assessed by the organization’s Global Network since June 2021 “still require major or moderate improvement” in AML/CFT compliance in accordance with the Travel Rule. According to the FATF, countries moving towards implementing these requirements made “limited progress” over the last …

The cryptocurrency industry is arguably one of the fastest-growing industries in the world. With its decentralized finance (DeFi) system and blockchain technology, crypto has become an attractive career path for those interested in technology and finance. As expected of any fast-growing sector, growth has also led to a corresponding increase in demand for talented individuals to build the space. According to a KoreanAITimes report, cryptocurrency and blockchain jobs grew by a whopping 118% between September 2020 and July 2021. Even in the correct market downturn, where some firms have paused hiring or cut staff from their rosters, others are actively …

Crypto exchange Binance has signed a memorandum of understanding with the Securities and Exchange Regulator of Cambodia (SERC), according to a June 30 announcement. Binance and SERC will work together to develop digital assets regulations in the country. SERC is looking to leverage Binance’s technical expertise and experience in the field to develop its own legal framework for the digital asset market. Cryptocurrencies are not regulated in Cambodia, and any unlicensed activity involving these digital assets is highly prohibited. The partnership could prove pivotal for the South Asian country, where any crypto-linked activity has been deemed illegal since 2018. Gleb …

Coinbase is expanding its operations into various countries in Europe amid a "crypto winter." Despite laying off numerous employees and rescinding job offers, Coinbase's vice president Nana Murugesan revealed intentions to register in Italy, Spain, France and the Netherlands. In Switzerland, the United States-based cryptocurrency exchange has already hired its first employees and is already licensed to trade cryptocurrencies in the United Kingdom, Ireland and Germany. In an interview on June 29, Murugesan stated that the firm is now looking to expand into Europe. Furthermore, amid the cryptocurrency market slump, the company is also open to acquisitions in the region. …