A major cryptocurrency exchange based in Hong Kong is rumoured to gone bankrupt as users are facing serious difficulty withdrawing funds for quite a few weeks now. A user of the exchange Luke Dashjr commented: “Looks like they have decided to go full scammer, and are stealing balances of users. By locking accounts and making unreasonable demands for private information, which many can’t provide even if they wanted to. And when you don’t/can’t comply, they just keep your bitcoins instead of closing your account and sending them to you.”
BiKi.com (a cryptocurrency exchange) has announced that it has appointed Ethan Ng as its Southeast Asia CEO. He was chosen by Jun Du, co-founder of Huobi. Ng shared, “BiKi.com’s key difference is our deep relationships with listed projects that we will help expand and grow. Listing on an exchange should be the beginning of a long-term partnership for growth”.
One of the largest cryptocurrency exchanges in the world, Coinbase have announced that its users now allowed to withdraw funds to PayPal. Coinbase then explained, “These withdrawals are not only fast; they’re free and incur no fees. We work hard to make Coinbase the easiest and most trusted platform.”
The United Kingdom-based digital asset trading platform Cubits, has been forced into administration. This means that investors cannot deposit or withdraw funds until further notice. It is result of the loss $32.5 million by fraudsters in February reportedly stole exchange claims to be victim. It is now under Steve Parker and Trevor of Opus Restructuring & Insolvency as joint administrators.
Monex, a Japanese financial corporation, is to start offering a cryptocurrency trading service in the US with Coincheck, a Japanese cryptocurrency exchange the brand which Monex bought in April. Services starts by the early 2019 and will be open only for big money customers. It will allow trade of Bitcoin, Bitcoin Cash, Litecoin, Ethereum, and XRP.
ErisX has raised a fund of $27.5 Million from Nasdaq Ventures, the world’s second-largest stock exchange, and Fidelity Investments, USA based investment firm which administers over $7.2 trillion client’s assets. Thomas Chippas, ErisX CEO said the funds will be used to built infrastructure, hire staff and secure digital assets in a regulated market. They are offering both spot trading in Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC).
The founder of cryptocurrency exchange EtherDelta, Zachary Coburn has been charged by the U.S. Securities and Exchange Commission (SEC) for operating an unregistered securities exchange. The co-director of the SEC’s Enforcement Division, Steven Peikin commented, “We are witnessing a time of significant innovation in the securities markets with the use and application of distributed ledger technology.”
Trijo, a company based in Sweden, has been granted a license to operate a cryptocurrency exchange in Estonia. The CEO of Trijo, Totte Löfström affirmed that no unreliable cryptocurrencies will be featured in the platform and commented, “Although we fully intended to operate out of Sweden, it wasn’t possible when there are superior tailor-made solutions available abroad.”
Stephen Hammond, a member of the British parliament, is to serve as the adviser of the IronX crypto exchange company. The company has accomplished the private sale of its IRX token and would launch its ICO from 1st November. Hammond stated, “The only way cryptocurrencies will be trusted and become accepted in the traditional business environment is through regulation.”