Venezuelans are running out of crypto P2P trading options

Due to the regulations and sanctions related to the U.S. Office of Foreign Assets Control, or OFAC, Paxful announced that they will no longer provide services in Venezuela, according to an announcement on September 14. In a statement sent to Cointelegraph, Paxful’s CEO, Ray Youssef, commented that they’ve tried for several months to find a way to maintain their operations in Venezuela, but “with current risks, we had no choice but to make this incredibly difficult decision.”  Ray also told Cointelegraph how the wind down of his company’s services will…

‘My heart is crypto’ — Dave Portnoy says he’s back into Bitcoin trading

Dave Portnoy, the founder of Barstool Sports, is coming back to Bitcoin (BTC) after abruptly abandoning trading digital currencies when his Chainlink (LINK) investment went belly up. In a recent video, Portnoy said his “heart is crypto” and would make a return to the cryptocurrency market soon. The internet personality, who became a popular day trader after the coronavirus pandemic, entered the Bitcoin market on Aug. 14 after meeting with avid billionaire Bitcoin investors Cameron and Tyler Winklevoss. After receiving a quick refresher on what crypto is and how to…

What are social trading and copy trading?

Social trading can be described as those activities that engage or facilitate interactions among traders to strengthen the crypto community. On the other hand, copy trading is an element of social trading that allows users to mimic the trading patterns of other traders, in particular, experienced or professional traders. As industry players and professionals in the cryptocurrency and blockchain space, it’s helpful to understand why these terms are different and how they are similar. Not only will we better understand these concepts but it also makes it easier when explaining…

Europe’s Revolut app now offers crypto trading for Aussie users

After opening its doors to Australians last month, one of the largest brokerage firms in Europe is now offering crypto trading services. U.K.-based money app Revolut announced on Sept. 3 that its tens of thousands of Australian customers are now able to buy, sell, and hold crypto assets. Users can convert their fiat into Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), XRP, and Stellar (XLM). Revolut stated that its ‘Metal plan’ customers could now transfer digital assets to other users, as well as exercise the option to round…

Swiss crypto bank Sygnum scores approval for digital asset trading

Sygnum, a major cryptocurrency bank in Switzerland, is preparing to finally introduce digital asset trading after receiving regulatory approval. On Sept. 1, Sygnum announced that it received regulatory approval from the Financial Market Supervisory Authority (FINMA), allowing the company to expand its services to a digital asset trading facility. The new approval enables Sygnum to “cover the complete life-cycle of a security,” starting from services like primary issuance, settlement, and custody to secondary trading. As part of Sygnum’s new capabilities, users now have access to instant settlement via the Sygnum-issued…

How bot trading influences the crypto market, explained

While bots can be a great tool for many traders, some are concerned about the ways this could create room for manipulation, such as with “pump and dump” scams as well as decentralized exchange (DEX) manipulation. Bots can manipulate exchanges Using a series of bots to bring added liquidity to an exchange sounds harmless enough at first, as it should simply create a better user experience for clients. However, if the vast majority of trading activity on an exchange is bots, then that could be a red-flag that something isn’t…

The Robonomics token is trading for $95,000 each on Uniswap

The highly-anticipated launch of Polkadot’s (DOT) mainnet has seen many smaller crypto assets associated with the project explode recently. Both tokens of the distributed ledger technology (DLT)-powered robotics and Internet-of-Things (IoT) project Robonomics have been among those to surge alongside Polkadot, with the price of its utility token XRT increasing 10 times earlier this month. However, Robonomics’ “lifetime subscription token,” Robonomics Web Services (RWS), has also posted massive gains — becoming the first crypto token to trade for more than $100,000 when it tagged $116,000 in recent weeks. RWS’s extreme…

The frontrunner in ByBit’s trading competition is up 4000% so far

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.…

Major Korean crypto exchange seized after 99% trading volume allegedly faked

South Korea’s third-largest cryptocurrency exchange, Coinbit, has been seized by police following fraud allegations. According to an Aug. 26 report by the Seoul Shinmun, 99% of transaction volume on the exchange was faked through wash trading. The Seoul Metropolitan Police searched and confiscated a number of properties, including Coinbit’s headquarters in the Gangnam district of Seoul. Coinbit’s owner, Chairman Choi Mo, and his management team are accused of inflating transaction volumes and manipulating token prices using a number of ghost accounts. Police estimate that the fraudulent activities netted over 100…

FTX crypto exchange acquires Blockfolio for $150 million, set to create ‘New trading experience’

Blockfolio is off the table, and with it goes the second — and arguably final — opportunity for a crypto exchange to add millions of existing retail users to its ecosystem. Following Binance’s acquisition of CoinMarketCap (CMC) earlier this year, crypto industry prognosticators identified the retail market’s most popular portfolio management app as the likely target of the sector’s next mammoth retail deal. And FTX, which only launched in 2019, has proved willing to pay the $150 million price tag for Blockfolio’s 6 million-strong user base as the exchange looks…