Cryptocurrency Analysis and News Portal
Over-the-counter (OTC) trading desks in China are on their way out as the country cracks down on cryptocurrency activities, a veteran of the local crypto scene predicted.“I think OTC platforms that are operated from the big exchanges will close down,” said Bobby Lee, founder and CEO of the Ballet wallet
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Earlier, crypto sleuthing firm Chainalysis said it helped OFAC to identify the Suex’s crypto wallets, adding that the OTC firm helped launder money coming from major scams, hacker groups and drug traffickers. Elliptic, another blockchain analytics firm, wrote in a blog post the addresses received about $934 million worth of
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The United States Department of the Treasury has announced it will impose sanctions on the Czech Republic and Russia-based business Suex OTC for allegedly allowing hackers to access cryptocurrency sent as payment for ransomware attacks.In an advisory update issued on Tuesday, the Treasury Department Office of Foreign Assets Control, or
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Bitcoin (BTC) is being aggressively bought up by institutional entities this week as data shows over-the-counter (OTC) trading volumes spiking.As noted by Dylan LeClair, co-founder of analytics and advisory firm 21st Paradigm, high net worth individuals have clear interest in Bitcoin at current prices.Investors ramp up BTC activityCiting data from
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Phemex, the fastest crypto exchange and futures trading platform has introduced OTC Trading service in partnership with Legend Trading — a Silicon Valley-based, regulatory-compliant OTC trading service. With this new addition, users on Phemex can now safely buy and sell cryptocurrencies through USD wire transfer as well as other options,
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A firm called Osprey Funds is offering an over-the-counter, or OTC, Bitcoin (BTC) trust under the ticker symbol OBTC. The trust is similar to Grayscale’s Bitcoin Trust, known as GBTC.“The Osprey Bitcoin Trust provides easy access to bitcoin,” the firm’s website says. “With a 0.49% management fee, it is the
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Bitcoin faces the prospects of undergoing a massive downside correction as on-chain data shows a plunge in its
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Ethereum-based scaling platform OMG Network has been acquired by the venture subsidiary of Hong Kong-headquartered OTC trading firm, Genesis Block.The acquisition was announced on Dec. 3, with Genesis Block Ventures revealing plans to work with OMG to build “lending and trading platforms” for the DeFi sector.The firm also intends to
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The Colombian Stock Exchange announced it is joining the Consorcio Colibrí, a private initiative that promotes the adoption of blockchain technology within the finance industry.As Cryptox Español reported on Nov. 18, Consorcio Colibrí was formed by major financial institutions such as Bancolombia, BBVA, Santander Caceis Colombia, Deceval, Contrato Marco, Porvenir
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As Chinese authorities make it harder than ever to exchange cryptocurrency into fiat, miners may be forced to move to other jurisdictions, local sources say.On Monday, crypto industry blogger Colin Wu tweeted that miners in China have been struggling to pay for electricity after the authorities started cracking down on
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