The tZERO Crypto exchange, whose majority owner is Overstock, will shut down on March 6, the company announced via Twitter on Feb. 3. The company says that it will continue to focus on its regulated securities products after the shutdown, as the United States Securities and Exchange Commission (SEC) and other regulators clarify the legal status of crypto assets. Today, tZERO Crypto informed its customers that it will be ceasing operations on March 6, following an orderly withdrawal of assets by the customers, which continue to be held by the custodian. 1/7 — tZERO (@tZERO) February 3, 2023 tZERO is …

In a cease-and-desist letter to fast-growing crypto exchange FTX, the Federal Deposit Insurance Corporation (FDIC) shed light on a now-deleted tweet from the exchange’s president, Brett Harrison, and issued a stark warning over the company’s messaging. Harrison’s original tweet said, “Direct deposits from employers to FTX US are stored in individually FDIC-insured bank accounts in the users’ names.” He added, “Stocks are held in FDIC-insured and SIPC [Security Investor Protection Corporation]-insured brokerage accounts.” Although Harrison stewarded FTX to its best-ever year in 2021, increasing revenue by 1,000%, the firm now faces the unenviable prospect of running afoul of a powerful …

Australian-based cryptocurrency exchange BTC Markets has become the first crypto company in the country to gain a financial services license. The license was issued by the country’s financial regulator, the Australian Securities and Investments Commission (ASIC), to BTC Markets’ sister company BTCM Payments. We have an exciting announcement to make: BTC Markets is the first Australian crypto exchange to successfully go through the full AFSL application process via our sister company, BTCM Payments! ✅AFSL attained ✅ISO Certified ✅SOC 2 on the way!#crypto #bitcoin #finance — BTC Markets (@BTCMarkets) June 21, 2022 An Australian Financial Services (AFS) license allows the holder …

Kakao Piccoma, a Japanese digital comics' subscription service and subsidiary of the Korean internet company Kakao, has purchased a 50% controlling stake in the Japanese cryptocurrency exchange, Sakura Exchange Bitcoin (SEBC). That makes Kakao its largest shareholder and the deal is also expected to help Kakao offer cryptocurrency services on its Piccoma webtoon platform, and expand aggresively into Web3, according to local media reports. Piccoma is the largest webtoon platform in Japan, and in 2021 its app marked $1 billion in consumer spend after six years in the Japanese market. The amount Kakao paid for its stake in the exchange …

Major cryptocurrency exchange Binance has partnered with MDI Ventures, PT Telkom Indonesia's venture capital arm, to establish a crypto exchange platform. According to a joint announcement on Dec. 15, the agreement will also seek to broaden blockchain adoption throughout Indonesia, which is home to about 240 million people. To assist with the development of the new exchange platform, Binance will provide asset management infrastructure and technology. The agreement will also seek to increase the application of blockchain technology in Indonesia more broadly. The new partnership enables Binance to grow its operations in a nation where it already has an investment …

Last month, Cointelegraph interviewed Reserve CEO Nevin Freeman and the payment decentralized application’s community manager Yens Michiels about the company’s mission to provide access to stable currencies. More recently, Cointelegraph spoke to a couple of users based out of Venezuela and Colombia who shared their positive experiences with Reserve. Reserve is a tool to exchange fiat currency like Venezuelan bolivares for U.S. dollars via the Reserve (RSV) stablecoin. From everyday purchases to family remittances, Reserve has said that its use cases are increasingly growing in Latin America. After one year on the market in Venezuela, Colombia, Panama and Argentina, there …

FTX crypto exchange’s native utility token, FTT, reached a new record high on Monday a week after it agreed to acquire LedgerX, a United States-based crypto derivative platform, for an undisclosed sum. On Monday, the FTT/USD exchange rate surged 16.37% to $73.99 in a market-wide rally that saw other top coins post similar but dwarfed price rallies. Additionally, the pair’s intraday climb coincided with gains among top exchange tokens, with Binance Coin (BNB) rising 2.3% and Uniswap’s UNI recording 3.5% profits on a 24-hour adjusted timeframe. LedgerX acquisition The news of FTX’s Ledger acquisition served as the primary bullish backdrop …

KuCoin (KCS) prices ticked up in the early Wednesday session on July 7, in part because of an ongoing market rally across the top exchange-based utility tokens. The 72nd-largest cryptocurrency peaked for the day at $14.847 before correcting lower on interim profit-taking sentiment. The move downside accompanied decent volumes, alerting that the sell-off momentum could continue across the European and the U.S. sessions. At the time of writing, the KCS/USDT exchange rate was approximately $14, up more than 100% on a month-to-date timeframe (MTD). Therefore, KuCoin's bearish correction appeared as an attempt to neutralize its overextended upside momentum. The cryptocurrency's …

Having filed its registration application in New York, ItBit is looking to become the first regulated Bitcoin bank in America. ItBit, a digital currency exchange operationally based in Singapore and with a head office in New York, looks to become the first officially regulated Bitcoin bank as they look to expand their service offering. The move would allow the company to legitimately take on a more traditional banking service role while meeting relevant legal requirements. According to Reuters, people privy to the matter expect that the application could be approved “in the next couple weeks.” The exchange appears ready to …