Cryptopia Exchange Resumes Crypto Trading Amid Banking Issues

Cryptopia, the cryptocurrency exchange hit by a major hack in mid-January, has just announced that it’s restarted trading services. The New Zealand-based exchange posted a notice on Twitter Wednesday, saying: “We have resumed trading on 40 trade pairs that we have quantified as secure. We will continue to expand this list as we clear more coins.” The company is providing a full list of the available pairs on its support pages. On Jan. 16, Cryptopia went offline stating that it “suffered a security breach which resulted in significant losses.” Since then,…

Crypto Exchange Bithumb to Reduce Staff By Up to 50%

Bithumb, the largest cryptocurrency exchange in South Korea, plans to cut its staffing levels by up to 50 percent, according to a CoinDesk Korea report issued Monday, a move that would reduce its number of employees from 310 at the start of March to around 150. When reached, an official at the company confirmed the 50 percent figure, adding that it expects those departing will mostly be employees who already want to leave the company. “Voluntary retirement is part of our support program for former employees and is intended to provide assistance and…

Riot Blockchain to Launch Regulated Crypto Exchange in the US

Riot Blockchain is planning to launch a regulated crypto exchange in the U.S. The publicly traded U.S. company that has faced regulatory issues for a sudden pivot to blockchain, revealed in a filing with the U.S. Securities and Exchange Commission (SEC) Friday that the new entity will be called called RiotX and will develop three main services: banking, trading and a digital wallet. The application follows the firm’s change in business focus after almost two decades in biotech, when it rebranded to Riot Blockchain from Bioptix and shifted focus to crypto mining…

Bittrex Exchange Nixes RAID Token Sale at 11th Hour

Cryptocurrency exchange Bittrex said it canceled an “initial exchange offering” (IEO) just hours before it was set to launch. The RAID Project had planned to raise $6 million through the sale of a token called XRD to the exchange’s customers. But Bittrex said it called off the sale after learning that the issuer’s strategic partnership with an e-gaming data analytics company OP.GG had been abruptly terminated. That alliance “was a vital part of the RAID project,” Bittrex said in a statement. “When Bittrex International became aware of this significant event, we did…

Gatecoin Crypto Exchange to Shut Down on Court’s Orders

Hong Kong-based cryptocurrency exchange Gatecoin will shut down and enter liquidation after an unsuccessful attempt to recover funds lost in a dispute with a former payment services provider. Announced yesterday, the company distributed the message to customers via their corporate website. There, the team behind the project explained the suspension of the service occurred after months of battling to stay afloat, and ultimately, a court order to wind-up and cease operations immediately. In its public statement, the company blamed its prior payment service provider (PSP) for this situation. The exchange…

Court Rules Quoine Exchange Liable for Reversing Bitcoin Trades Worth Millions

The Singapore International Commercial Court has ruled against cryptocurrency exchange Quoine after it reversed trades for a total of 3,092 bitcoins (BTC) by crypto market maker B2C2 two years ago. The court published a case summary Thursday, stating that it found Quoine liable for the “breach of contract and breach of trust” in reversing B2C2’s trades made at an “abnormal” exchange rate back in April 2017. B2C2 had made seven trades in which it sold ether (ETH) at an exchange rate of 10 BTC per token – approximately 250 times higher…

Polychain, DCG Invest in Crypto Futures Exchange CoinFLEX

Venture capital firms Polychain Capital and Digital Currency Group (DCG) have invested an undisclosed sum in cryptocurrency futures exchange CoinFLEX. Announcing the news on Wednesday, CoinFLEX said that, with the new funding, the two firms have joined its previous backers, including Trading Technologies, Roger Ver and Dragonfly Capital Partners. CoinFLEX is launching what it calls a “global, scalable and secure crypto futures exchange” that will offer physically-delivered bitcoin futures and, in future, a stablecoin-to-stablecoin futures contract. Explaining the investment, Polychain CEO Olaf Carson-Wee said: “As a physically-settled futures exchange, CoinFLEX will…

Decentralized Exchange Hodl Hodl Is Launching a Bitcoin-Based Prediction Market

Hodl Hodl, a peer-to-peer cryptocurrency exchange, has announced that it is launching a prediction market on Bitcoin. Slated for launch in the spring of 2019, it would be the first Bitcoin-based prediction market to go live on Bitcoin’s mainnet. A prediction market is a novel application of blockchain technology. The betting platforms allow users to secure odds, futures and outcomes with smart contracts. Two users place funds (traditionally, ether) into a smart contract to bet on futures for any given outcome; when the outcome arrives, the smart contract automatically pays…

Kraken Crypto Exchange Poaches a Sony Studio Head for Marketing Push

Kraken, one of the largest U.S.-based crypto exchanges with daily volume of around $100 million, has hired a Hollywood veteran to be its first chief marketing officer. Matt Mason spent the last four years as the studio head of 1-800-N0TH1NG, described on his LinkedIn page as an “innovation lab” in Los Angeles funded by Sony Pictures. He left that job last month to take the newly created position at Kraken. “Building out the marketing function at Kraken is a critical next step for us as we continue to grow our business and…

Futures Trading Nears $1 Billion in First Month at Kraken Crypto Exchange

Cryptocurrency futures provider Crypto Facilities has seen “tremendous growth” since being acquired by U.S.-based crypto exchange Kraken last month, an executive said. Sui Chung, the subsidiary’s head of indices and pricing products, told CoinDesk that trading volume has increased more than 500 percent since Kraken acquired the futures exchange at the beginning of February for $100 million. Crypto Facilities is perhaps best known in the U.S. for providing bitcoin and ether reference rates to CME Group, which lists bitcoin futures contracts. In total, nearly $1 billion in crypto futures has been traded…