Huobi DeFi Labs has launched a global DeFi alliance, which is set to establish universal protocol standards for the DeFi space and improve communications within the DeFi ecosystem. The alliance will also conduct research on emerging DeFi protocols to help avoid future crises in the community. The alliance’s inaugural members are MakerDAO (MKR), Compound (COM), Nest (NEST), and dYdX (dYdX). In an interview with Cointelegraph, Huobi’s chief investment officer Sharlyn Wu said, “We have to partner with the entire ecosystem. But we want to work with the best of projects out there and make sure our users have access to …

Band Protocol, the cross-chain data oracle platform, said that its token BAND has been listed on Huobi Global exchange. The company clarified in a press release on its blog that trading on BAND token will start on August 10. Huobi will support BAND/U.S. dollar, BAND/BTC and BAND/ETH trading pairs. Regarding deposits, the company stated that they will be available from August 9 and for withdrawals, they will be available from August 10. The company noted that at present, withdrawals and deposits will be limited only to BAND-mainnet coins and that the time for opening and withdrawing BAND-ERC20 coins will be …

Coinbase Wallet, a service of the largest crypto exchange in the United States, now supports “.crypto” domains via an integration with blockchain domain provider Unstoppable Domains. Coinbase users can now send payments to each other by simply typing a .crypto domain instead of using long-form cryptographic addresses, Unstoppable Domains told Cointelegraph on Aug. 5. By introducing the new integration, Coinbase Wallet joins major crypto exchange Huobi, which announced a similar feature in late June. Brad Kam, co-founder of Unstoppable Domains, says that Coinbase Wallet is the first platform to offer an “all in one solution” for all cryptocurrencies offered by …

Robin Zhu, Huobi Global Group’s COO, told Cointelegraph at a China Great Bay Area International Blockchain Week pre-event interview on August 3 that lack of defined regulations and infrastructure services are preventing the mass adoption of blockchain and crypto. Defined regulation and mass adoption Zhu explained that, in addition to concerns about hacking, users are put off by the lack of defined regulations, infrastructure services, and user-friendly asset management systems. He continued that: “Security has always been on the top of the list. Lack of defined regulations and infrastructure services means that it is hard for mass users to entrust …

Huobi’s Japanese branch has joined the Japan Security Token Offering Association, or JSTOA, as a “supporting member” along with Zaif, FXCoin, and 8 other local crypto players, according to the announcement published earlier today. “A full member must be a securities firm holding a Finance 1 licence,” Huobi Japan CEO Haiteng Chen clarified in a comment to Cointelegraph. “We don't obtain this licence and thus cannot apply for a full membership.” Huobi Japan aims to streamline “the transaction of security tokens” through this self-regulatory body. The JSTOA was launched in October 2019 by six major Japanese brokerage firms including SBI …

Major Japanese exchange Huobi is asking its users to vote before August 16 on which new cryptocurrencies they would like to see listed. According to an update on the Huobi website posted on July 16, the Japan-based exchange is considering adding Enjin (ENJ), IOS Token (IOST), Neo (NEO), Ontology (ONT), Qtum (QTUM), and Tezos (XTZ). Huobi account holders started voting on which tokens they want to see listed on the exchange on July 16. Users are granted one vote per account every Friday for a maximum of five votes. Voting will end at midnight on August 16. The Japanese crypto …

The two Nigerians jetsetters who filled their Instagram accounts with pictures of their ostentatious wealth were extradited from Dubai to the United States. According to the FBI, they were able to convert millions of dollars into Bitcoin (BTC) via the Gemini exchange. Transaction summary for Bitcoin address 16AtGJbaxL2kmzx4mW5ocpT2ysTWxmacWn. Source: Crystal Blockchain The two are Olalekan Jacob Ponle, also known as “Mr. Woodbery,” and “Mark Kain,” and Ramon Olorunwa Abbas, who used the aliases “Ray Hushpuppi” and “Hush”. The FBI complaint focused on the former’s activities and how he used Bitcoin to transfer the stolen funds. Business email compromise — 1,500 …

The Chinese authorities dismantled a significant crypto-related scam in Wenzhou. The scheme amassed over 100 million yuan ($14.31 million), which was seized along with a number of luxury cars and villas. According to Toutiao, the gang has been operating since 2019 and primarily sought out victims through Telegram chat groups, including one called “Huobi Global Moving Brick Arbitrage HT Chinese Group Community.” ETH, BTC, and USDT stolen from victims The report states the scammers pretended to be investors who had benefited from an “investment scheme.” The scammers told their victims that all they had to do was send their cryptos …

Chainlink (LINK) reached an all-time high of $5.60, appreciating 15% on the day. This comes amid the news that China’s Blockchain Service Network, or BSN, launched this past weekend. LINK price over the past 12 months. Source: Nomics. The BSN recently integrated Chainlink’s price oracles into its ecosystem. The founding members of the BSN consortium were local tech leviathans like the China Mobile Communication Corporation and China Union Pay. Its stated goal is to advance blockchain technology in China. 135 nodes go live in China A source familiar with BSN’s launch told Cointelegraph that the 135 nodes nodes of the …

Major cryptocurrency exchange Huobi will integrate their price data with Chainlink’s ecosystem in an effort to improve its own data integrity and provide more accurate price information. While Binance was the first major exchange to provide their data to Chainlink oracles in October 2019, Huobi has gone one step further by running its own node on the system through Huobi Wallet. This allows the exchange to sign its own price data allowing users to confirm that any exchange data coming from the Huobi Node is authentic and direct from the source. Huobi Wallet CEO Will Huang stated: “DeFi offers a …

More than 40 companies including Ripple, Brave and Huobi have joined forces to form the Open Payments Coalition and launch universal payments system PayID. Reaching more than 100 million consumers, the new payment process will allow users to send or receive money anywhere in the world across any payment network in real time. Users can provide an email address or a phone number linked to their bank account to instantly receive money without requiring complicated bank account numbers, international codes, routing numbers or SWIFT IDs. Cryptocurrency and blockchain companies involved include BitGo, BitPay, Bitrue, Bitso, Bitstamp, Blockchain.com, Brave, BTC Markets, …

Cryptocurrency exchanges have an important role in driving adoption around the world, but even the biggest operations face significant challenges when trying to expand their services. The advent of Bitcoin (BTC) and the subsequent development and launch of numerous other cryptocurrencies have changed the way people look at transacting across the world. Dependency on traditional banking systems is no longer the only option available to people. Blockchain networks and cryptocurrencies are able to bypass conventional financial systems and allow people to transact directly, without having to go through a centralized institution. In an ideal, cryptographically secure world, users would transact …