A trader has managed to secure over 4,000% profit in less than three weeks as part of the World Series of Trading, or WSOT — a competition hosted by leverage crypto trading exchange, Bybit. Using his Twitter name for the competition, SalsaTekila appears on the WSOT troop leaderboard, advancing his team forward with 4,495.95% profit. The trader started the competition trading with just 0.19 Bitcoin (BTC), but has managed to turn that into about 8.76 BTC over the course of the competition. The trader jumped on Tone Vays' YouTube channel on Aug. 25 to talk about the competition, revealing his …

This week’s headlines from Japan included Coincheck readying its digital shareholder meeting solution, GMO Coin announcing negative leverage trading fees, Decurret testing transactions with a power company, Japanese authorities proposing tax changes, and Japanese finance company FISCO developing apps for shareholder voting and staking. Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan. Coincheck setting up for digital shareholder service As Tokyo-based crypto exchange Coincheck readies its new digital meeting avenue, the exchange's co-founder expressed confidence in the project. Known as Sharely, unveiled in June 2020, the digital shareholder gathering solution allows for participant …

Binance has launched new leveraged tokens, giving customers greater price swing accessibility. "Leverage Tokens are a tradable asset that gives users leveraged exposure to the underlying asset without the need of maintaining collaterals, margin maintenance and liquidation risk," Binance said in a question and answer document provided to Cointelegraph, adding: Each leverage token represents a basket of perpetual futures positions. The price of the tokens tracks the changes in notional value of its underlying positions and its level of leverage." Binance recently delisted similar FTX products from its platform At the end of March, Binance announced the delisting of FTX …

Coinbase Pro, the cryptocurrency trading platform arm of U.S.-based exchange Coinbase, has unveiled 3x margin trading for select customers. “Our leverage multiple is based on market analysis,” a Coinbase spokesperson told Cointelegraph in an email. “We are rolling this out in a way that we feel is responsible to our customers while offering them an adequate amount of leverage to trade on.” Active Coinbase Pro users in 23 states can now trade with leverage on Coinbase Pro, according to the company’s blog announcement on Feb. 12. Coinbase Pro hosts a modest 3x leverage limit, whereas exchanges such as BitMEX and …

The twelfth-largest cryptocurrency exchange, Bitstamp, partnered with cryptocurrency-friendly Silvergate Bank to pilot Bitcoin (BTC) leveraged trading. According to an announcement on Jan. 14, the exchange will serve as the launch partner for the bank’s Silvergate Exchange Network (SEN) Leverage service. During the pilot stage, the exchange will only offer leveraged trading to select institutional customers. The only collateral currently supported by the service is Bitcoin, which will be custodied by Bitstamp as Silvergate Bank’s first exchange partner. Silvergate, the crypto bank Silvergate Bank’s friendliness towards cryptocurrency businesses is seemingly paying off as it has penned partnerships with major cryptocurrency firms. …

A company has set out its ambition of becoming the world’s number one exchange for cryptocurrency derivatives — placing an emphasis on fairness, transparency and ease of use for all levels of traders. According to BitOrb, current platforms are too complicated for everyday crypto enthusiasts — with high fees, system performance issues and a lack of regulations occasionally resulting in market manipulation. Despite all of this, the crypto derivatives market is booming — with billions of dollars of trading volume registered every single day. Filling the gap BitOrb plans to focus on futures contracts and says its platform will be …