Crypto Trading Financial News

Western Europe has emerged as a leading region in global crypto adoption, attracting a substantial number of daily traders, ranging from 1.2 million to 1.5 million individuals.

CoinSwitch, a leading cryptocurrency trading platform, announced that it has surpassed 2 crore registered users, marking a significant milestone as the first platform in India to achieve this feat. This achievement comes amid a notable surge in user activity within India, fueled by growing investor optimism following developments such as the introduction of Bitcoin ETFs in the US, the potential approval of Ethereum ETFs, and the eagerly anticipated Bitcoin Halving event.

Deutsche Börse, one of Europe’s biggest exchange operators, has launched a new regulated spot platform for crypto assets targeting institutional clients.

The  Bitcoin (BTC)  spot trading volume on centralized exchanges (CEXes) has reached the highest level of activity since the collapse of FTX.

Brokerage firm OANDA is launching crypto trading in the UK and will be based in London, and the new business will be dubbed, “OANDA Crypto,” according to a CoinDesk report by Ian Allison.

Bill Ackman talked about his investment philosophy in a recent interview and briefly touched on cryptocurrencies.

Bitcoin halving occurred, marking a pivotal moment in the crypto world. At that time, Indian investors in crypto were relatively fewer in number. However, over the past four years, there has been a significant shift in the landscape. More investors are joining exchanges and experimenting with this emerging asset class. For many of them, the upcoming Bitcoin halving will be a first-time experience in their investment journey.

Crypto trading and mining has been banned in China since 2021. Run used bank cards issued by small rural commercial banks to buy cryptocurrencies through grey-market dealers, and capped each transaction at 50,000 yuan ($6,978) to escape scrutiny. "Bitcoin is a safe haven, like gold," says Run. He now owns roughly 1 million yuan worth of cryptocurrencies, accounting for half of his investment portfolio, compared with just 40% in Chinese equities.

In the face of China’s economic downturn and a sluggish stock market, Chinese investors are turning to the crypto market as a safer alternative to traditional investments, despite the government’s crypto ban.

Austrian cooperative bank Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) is allowing clients to trade digital assets using their banking apps using Bitpanda infrastructure starting from today.

Crypto.com has experienced a surge in its spot trading volume, surpassing major competitors Kraken and KuCoin.

Goldman Sachs-backed crypto platform Elwood Technologies announced Wednesday that the firm secured regulatory approval as a service provider.

FTX cryptocurrency exchange filed for bankruptcy last year, Thomas Braziel, an investor who specializes in collapsed businesses, started brokering an unusual kind of transaction: a market to profit from FTX’s downfall. Braziel put one of his clients in touch with a large financial firm that had lost nearly $100 million when FTX went under. Last December, the firm agreed to sell its claim in the FTX bankruptcy — essentially an IOU from the collapsed exchange — for 6 cents on the dollar, betting that it was better to collect some fast cash than wait years for the husk of FTX to start paying creditors back. Then the market for FTX claims exploded. Braziel recently brokered the sale of a $19 million FTX claim for 68 cents on the dollar, collecting a nearly $100,000 commission, he said. Some claims are selling for more than 70 cents, as investors grow optimistic that FTX’s new leadership will recover a sizable portion of the roughly $8 billion that the founder, Sam Bankman-Fried, was convicted of stealing from customers. “The market is insane,” said Braziel, a partner at investment firm 117 Partners. “It’s so hot.”

After consolidating for the past few days, BONK is making a renewed push following its Coinbase debut, sparking speculation on whether the meme coin could be one of the best cryptos to buy now.

A new Zurich-based startup Rulematch is creating a customized crypto trading experience for banks and securities firms. The trading venue is launched by a former Credit Suisse executive David Riegelnig.

Robinhood is expanding its services in the European Union (EU) by launching commission-free crypto trading. 

Itaú Unibanco, Brazil’s largest private bank, has entered the crypto space with new trading service, per a Reuters report.

Crypto whales are accumulating yPredict tokens ahead of exchange listings, drawn by the platform’s integration of predictive analytics and AI for crypto asset management.

Crypto venture capitalists have set their sights on Launchpad XYZ and its goal of enabling anyone to tap into algorithmic trading through the platform’s custom AI, Apollo.

Coinbase Global Inc.’s spot trading volume likely plummeted by more than half during the recently completed third quarter. The largest US digital-asset platform registered about $76 billion in spot trading volume, a drop of 52% from the year-ago period, according to data compiled by researcher CCData. The tally is also likely the least since before the company’s much ballyhooed direct listing on the Nasdaq Stock Market in April 2021, or just months before prices of cryptocurrencies peaked. Trading volume is a key metric for exchanges, with Coinbase deriving the biggest portion of its revenue from trading fees. In the second quarter, Coinbase said so-called transaction revenue accounted for 54% of total revenue. The decline is part of a year-long slide across the crypto industry following a spate of scandals, bankruptcies and regulatory actions. “Overall it looks like a challenging quarter” for Coinbase, said Owen Lau, an analyst at Oppenheimer & Co., who has a “market perform” rating on the company’s shares.

As crypto prices see-saw ahead of their next swerve, the market for "tokenization" — issuing blockchain-based digital tokens that represent assets from bonds to stocks and real estate — may finally be reaching a critical mass. Big finance firms like London Stock Exchange Group, WisdomTree and Mirae Asset Securities have either invested in token trading and investment platforms over the past year, or are in talks to develop them. Others like Franklin Templeton, UBS Asset Management and ABN Amro have launched tokenized versions of assets such as money market funds and green bonds. More than a third of institutional investors in the U.S. and almost two-thirds of high-net-worth investors plan to invest in tokenized assets this year or next, according to two surveys of more than 300 players in total conducted by EY-Parthenon in May.