Crypto Exchange Bitfinex Restarts Fiat Deposits Claiming ‘Improved’ System

Cryptocurrency exchange Bitfinex has just announced a new process for depositing fiat currency after the platform halted service in recent days. Announcing the news in a blog post Tuesday, the exchange said the “new, improved and increasingly resilient” deposit system would again allow users who have been verified for know-your-customer (KYC) compliance to top up their accounts with U.S. dollars, pounds Sterling, Japanese yen and euros. In a previous post on Oct. 5, Bifinex said “processing complications” had caused it to suspend fiat deposits for “certain customer accounts” and “user groups,” last…

LINE’s Crypto Exchange Is Now Listing Its Own Token Against Bitcoin, Ether

Bitbox, the cryptocurrency exchange launched by Japanese messaging giant LINE, has announced it is now listing its own token for trading against several major crypto assets. The company said Tuesday that the LINK (LN) token is now exclusively available on Bitbox in trading pairs with bitcoin, ethereum and the U.S. dollar-pegged stablecoin tether. The move marks the latest step taken by the company as part of its efforts to apply blockchain and cryptocurrency to mainstream use cases. Bitbox announced in August that it had launched a proprietary blockchain network called LINK…

Another Top-10 Crypto Exchange Is Adding 4 Stablecoins This Week

Huobi has announced it will list four U.S. dollar-pegged cryptocurrencies this week, making it the latest major exchange to do so in wake of recent issues surrounding the tether cryptocurrency. In an announcement Tuesday, the Singapore-based exchange – currently, the fourth-largest by trading volume – said it will open deposits and withdrawals for TrustToken’s TUSD, Circle’s USDC, and two regulator-approved stablecoins: the Gemini exchange’s GUSD and Paxos’ PAX, on Oct. 19. Huobi is also the fourth-largest trading platform for the trading of U.S dollar-pegged stablecoin tether (USDT), with $231 million-worth changing…

Binance Pauses Tether Withdrawals After Denying Delist Rumor

Crypto exchange Binance, the world’s largest by volume, suspended withdrawals of the tether (USDT) stablecoin Monday morning during what it called a period of heightened activity. Withdrawal functionality has since been returned, according to Binance’s website, which previously stated “wallet maintenance, withdrawal suspended” on the page for USDT. A customer service administrator on the platform’s English-language Telegram channel had previously said that the suspension was due to “USDT network congestion.” In another message, an administrator in the channel said earlier Monday that the “maintenance [is] due to network congestion. Expected date/time…

Crypto Exchange OKEx Lists 4 New Stablecoins

Hong Kong-based cryptocurrency exchange OKEx has announced that it is adding four U.S. dollar-pegged cryptocurrencies to its platform for trading. Rolling out the new additions over Monday and Tuesday, the exchange said in a support notice that it will list TrustToken’s TrueUSD (TUSD), Circle’s USDCoin (USDC), the Gemini Dollar (GUSD) from the Winklevoss-founded New York exchange and Paxos Standard Token (PAX). The latter three tokens were all launched by their respective companies in September, while TrustToken was ahead of the pack with a March release. At press time, OKEx is the…

Price of Tether Stablecoin Tanks to 18-Month Low

The price of the tether stablecoin (USDT) has fallen to an 18-month low Monday, despite a general rise in the wider crypto markets. The tether-US dollar exchange rate (USDT/USD) fell to $0.925284 at 07:00 UTC  – the lowest level since April 27, 2017 – and was last seen trading at $0.967296, representing a 2 percent drop on a 24-hour basis, according to CoinMarketCap. The slide in the USDT price has pushed up the premium carried by bitcoin (BTC) prices on the Bitfinex exchange above $600. As of writing, bitcoin is…

Gemini Adds Litecoin Trading With New York Watchdog Approval

Investors will soon be able to trade litecoin on the Winklevoss brothers-founded cryptocurrency exchange Gemini. The exchange announced Friday that it would soon enable deposits and trading for litecoin (LTC), adding the early bitcoin spin-off to its existing offerings of bitcoin, ethereum and zcash. Vice president of engineering at the firm, Eric Winer, wrote in a blog post that the move comes as part of the exchange’s effort to support “the future of money” by providing “a safe and regulated environment for both innovation and consumer protection.” The listing has…

FinCEN Blasts Iran’s ‘Malign’ Use of Crypto to Bypass Economic Sanctions

A U.S. crime-fighting agency is urging domestic exchanges to help prevent the Iranian regime from using cryptocurrency to bypass economic sanctions. The Financial Crimes Enforcement Network (FinCEN) published an advisory Friday, stating that Iran’s “illicit and malign” use of cryptocurrency to “exploit” the financial system includes at least $3.8 million-worth of bitcoin-denominated transactions every year. “While the use of virtual currency in Iran is comparatively small, virtual currency is an emerging payment system that may provide potential avenues for individuals and entities to evade sanctions,” the advisory said. As such, the regulator urges…

Coinbase Adds Its First Ethereum Token to Professional Trading Platform

Crypto exchange Coinbase just added the 0x protocol token to its professional trading platform, Coinbase Pro. Announced Thursday, the exchange said in a blog post that it had begun accepting deposits for ZRX, and would enable trading around 5:00 A.M. UTC, or after at least 12 hours after the initial announcement. The move represents the first time the platform has added support for an ERC-20 token that runs on the ethereum network. “Once sufficient liquidity is established, trading will begin on the ZRX/USD, ZRX/EUR and ZRX/BTC order books. ZRX trading…

Nearly $1 Billion Stolen In Crypto Hacks So Far This Year: Research

The losses related to crypto hacks continue to rise sharply, with nearly $1 billion stolen so far this year, new research suggests. In the first nine months of 2018, hackers stole $927 million from the cryptocurrency exchanges and other platforms, according to a recent report from blockchain security firm CipherTrace. The document, titled “Cryptocurrency Anti-Money Laundering 2018 Q3,” indicates the losses are 3.5 times higher than the levels seen in 2017, which came to $266 million. CipherTrace estimates the total figure will reach over $1 billion by the end of 2018.…