Cryptocurrency trading Financial News

Crypto exchange WazirX has appointed Zodia Custody as its official custodian ahead of its operational restart. Zodia Custody, backed by major financial institutions including Standard Chartered, Northern Trust, and SBI Holdings, will provide secure asset management solutions for WazirX users. Zane Suren, Managing Director, Commercial, MEA at Zodia Custody, stated, «Zodia Custody is proud to partner with WazirX for their much-anticipated relaunch. Providing our knowledge of supporting institutional clients and commitment to a compliance-first approach, we will empower WazirX and its users to seamlessly engage with digital assets in a way that protects their capital and complies with local regulation.»

Trading in cryptocurrency can be broken down into four key steps-

cryptocurrency trading, finding strategies that balance risk and reward is crucial. One such strategy, the Iron Condor, has gained attention for its effectiveness in navigating market fluctuations. This approach is particularly valuable in crypto markets, where volatility can be both an opportunity and a challenge. During a recent ETMarkets live stream, in association with Delta Exchange, seasoned crypto trader Saketh Ramakrishna delved into the Iron Condor strategy, providing practical insights for traders. He highlighted how this strategy can be applied to cryptocurrencies like Bitcoin, drawing parallels with traditional markets such as Nifty.

Financial Intelligence Unit (FIU) has approved the applications of offshore cryptocurrency exchanges Binance and Kucoin to register them as Virtual Asset Service Providers (VASPs) to trading in India, a top government official said. Kucoin paid a penalty of Rs 35.5 lakh for past non-compliances and the ban on its websites has been lifted. Meanwhile, Binance's quantum of liabilities is still being computed, he said.

Bear markets are a natural part of the financial cycle, with even the most bullish periods of growth having to end in contractions.

Cryptocurrency investing is growing increasingly complex, but yPredict intends to cut through the confusion using artificial intelligence.

In a stride towards embracing digital currency, WeStreet Credit Union, based in Tulsa, Oklahoma, has unveiled a Crypto Portal to facilitate the buying, selling, and holding of cryptocurrencies for its members and the general public. Initially launched in August 2023 as a members-only feature, the portal extended its access to the public in October.

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

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China has emerged as the biggest market for major crypto exchange Binance, despite a ban on crypto trading in the country.

Securities and Exchange Commission (SEC) is charging Coinbase with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. Coinbase was also charged for failing to register the offer and sale of its crypto asset staking-as-a-service program. Users of trading platforms can stake their cryptocurrency, essentially locking up some of their assets, in exchange for payment later, much like earning interest rates in a savings account. Those assets are used by platforms like Coinbase Global to guarantee other transactions taking place on the blockchain. Coinbase has been critical of regulations related to staking, calling them vague. The SEC complaint also alleges that Coinbase's holding company, Coinbase Global Inc., is a control person of Coinbase and therefore is also liable for some of Coinbase's violations.

The risk/reward ratio or risk/return ratio is a commonly used metric in trading that compares the potential profit of a trade with the potential loss. That said, it’s the reward traders stand to make for the risk they take. 

Singapore state-owned megabank DBS Group is planning to expand its cryptocurrency services to Hong Kong as the Chinese territory pushes to become a digital asset hub.

Singapore's retail investors may have to take a risk awareness test to be allowed to trade crypto, in order to ensure that they have sufficient knowledge of the risks involved. 

The $9 billion-valuated German fintech N26 launched crypto trading on its mobile app. Starting from Austria and rolling out to other countries in the upcoming months, N26 Crypto will let its customers buy and sell 200 cryptocurrencies, including Bitcoin (BTC) and Ether (ETH).

Mastercard plans to introduce a service that will let financial institutions offer to currency by acting as a bridge to the Paxos trading platform already used by PayPal. Mastercard will handle security and compliance.

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Disclaimer: The text below is a press release that is not part of Cryptonews.com editorial content.

Cryptocurrencies' trading volumes in Indian exchanges fall after new tax rules

Cryptocurrencies were designed to lead a new era of global financial inclusion, providing people access to financial services that they would otherwise be unable to have. Through a simplified financial structure, individuals and businesses around the world are finally having their needs met, and this transformation is believed to reduce poverty, improve prosperity and transform how the world transacts on a large scale.

In the last year, more people than ever before have taken to cryptocurrencies as a medium for investment. It is estimated that this amount is more than 100 million people, including a growing number of Gen X-ers and baby boomers, two groups that were previously skeptical of its place. As a result, trading volumes have reached new all-time highs with volumes of an estimated $3.8 trillion.