• Bithumb is South Korea’s second-largest crypto exchange
• The company held a shareholder meeting on September 30 and is eyeing a potential listing on Nasdaq

Bithumb, the second-largest crypto exchange in South Korea, is reportedly considering public listing in the US.

According to a local news report in dnews, Bithumb held an extraordinary shareholder meeting in which the company deliberated on the potential to list on the Nasdaq.

Bithumb is considering an IPO in 2025

The meeting held on Sept. 30 reviewed the consideration around an initial public offering in the second half of 2025. Also featured on the agenda was the company’s name – with shareholders passing the resolution to change the name from Bithumb Korea to Bithumb. Initially, the exchange went by BTC Korea.com.

News of Bithumb’s plans to go public in the US comes as a few other crypto companies, including Circle, have recently revealed IPO plans. Crypto news provider Wu Blockchain also shared the potentially huge Bithumb move.

Bithumb, South Korea’s second largest cryptocurrency exchange, announced at an extraordinary shareholders’ meeting that it is considering listing on the Nasdaq in the United States, with the goal of listing in the second half of next year, with Samsung Securities as the main…

— Wu Blockchain (@WuBlockchain) September 30, 2024

Bithumb first moved towards the push to become a publicly-traded company in 2020. But with crypto regulatory hurdles and accounting standards unfavourable, the company gave up the KOSDAQ IPO plans.

The exchange is still open to a domestic listing. However, it’s also eyeing an overseas offering given the example of Coinbase.

For its US IPO, the South Korea-based crypto exchange will work with Samsung Securities as the lead underwriter. Bithumb’s market share has hovered between 10% and 20%, and the potential for Nasdaq listing and presence could spark further growth.

The post Report: Bithumb considers listing on the Nasdaq appeared first on CoinJournal.

The post Report: Bithumb considers listing on the Nasdaq appeared first on CryptoSens.

• Kraken has closed the acquisition of Dutch cryptocurrency exchange Coin Meester B.V.
• The exchange has been expanding its services across EU ahead of MiCA regulation.

Crypto exchange Kraken has completed the acquisition of Coin Meester B.V., or BCM, a regulated Netherlands-based crypto broker.

BCM has regulatory approval as a registered virtual asset service provider in France and Poland.

This footprint in the Netherlands allows Kraken to offer its services in France and Poland. According to an announcement, the acquisition of BCM will help strengthen Kraken’s efforts to expand its services across Europe.

“The completion of the BCM acquisition is a key milestone in our European expansion, allowing us to leverage our strong footprint and market-leading position in euro volume and liquidity to significantly grow our market share in the years ahead,” Brian Gahan, Kraken’s managing director of Europe, noted in a statement.

Kraken will begin to extend its products to BCM clients in coming months. This will include access to over 200 cryptocurrencies. Users will also benefit from the liquidity, security and customer support available to Kraken’s users.

Kraken’s EU expansion

This deal follows Kraken’s expansion efforts across Europe as the industry eyes compliance with the European Union’s Markets in Crypto-Assets (MiCA) law.

Currently, Kraken provides VASP services either directly or through different partnerships across the EU. Countries where the exchange offers its services include Germany, Spain, Italy, the Netherlands and France. The crypto exchange also now offers its services in Ireland and Poland.

In Belgium, Kraken operates through its VASP platform in Ireland.

The post Kraken completes acquisition of Dutch crypto exchange BCM appeared first on CoinJournal.

The post Kraken completes acquisition of Dutch crypto exchange BCM appeared first on CryptoSens.

The acquisition of the Dutch broker firm is a key part of the exchange’s European expansion strategy ahead of the MiCA regulation.

The post Kraken acquires Dutch broker BCM as part of European expansion appeared first on CryptoSens.

• BingX was hacked early Friday, Sept. 20, with $43 million in cryptocurrencies stolen from the exchange’s hot wallet.
• Hacker stole ETH, BNB, USDT and over 300 other coins and tokens.
• On-chain data shows the attacker quickly swapped most of the assets for Ethereum and BNB.

BingX has been hacked, with the security breach resulting in the draining $43 million from the Singapore-based cryptocurrency exchange’s hot wallet.

Blockchain security firm PeckShield reported on the exploit early Friday.

Etherscan data indicates that of the $43 million stolen, over $13.2 million ETH, more than $2.3 million BNB, and more than $4.4 million USDT. The hacker also drained BingX’s hot wallet of 360 other coins – with these swapped into ETH and BNB at decentralized exchanges including Uniswap and KyberSwap.

BingX suspends withdrawals

Vivien Lin, the chief executive officer of BingX, confirmed the incident via an update posted on X.

Lin noted that the exchange’s technical team detected the breach around 4:00 am on Sept. 20, identifying an “abnormal network access.” The BingX security team immediately initiated the platform’s emergency plans, including urgently transferring assets from the hot wallet and halting withdrawals.

“To ensure security, withdrawals have been temporarily suspended while we conduct an emergency inspection and strengthen wallet services. We sincerely apologize for the inconvenience. Withdrawals will be restored within 24 hours at the latest,” Lin added.

The BingX CEO also assured users that the exchange is safe.

Q3: Is the platform still safe?
Answer: The platform is operating normally, and you can continue trading, using grid strategies, and financial services as usual. Only the wallet is currently under maintenance. Your funds are safe, so please be patient while the wallet…

— Vivien Lin @ BingX (@Vivien_BingX) September 20, 2024

According to BingX, the losses are “only minor” and that most of the users’ funds are in cold storage.

One of the biggest exploits on a crypto exchange in 2024 happened in July when hackers stole over $230 million from India-based cryptocurrency exchange WazirX. The attacker has managed to launder most of the funds, the latest being $6.5 million sent to Tornado Cash.

The post Crypto exchange BingX hacked for $43 million appeared first on CoinJournal.

The post Crypto exchange BingX hacked for $43 million appeared first on CryptoSens.

Trump is launching the World Liberty Financial DeFi platform, Uniswap’s CEO denies charging for protocol deployment, and the Sonic blockchain hits 720ms finality.

The post Trump’s crypto platform launch, Uniswap denies charging for protocol deployment: Finance Redefined appeared first on CryptoSens.

A report by Simplicity Group Research uncovers Bybit’s dominant day one token price performance, outperforming Binance and Coinbase.

The post Report reveals Bybit’s 2,700%+ token surge on day 1 listings appeared first on CryptoSens.

• Binance’s subsidiary in Indonesia, Tokocrypto, has acquired the key crypto asset trader license in the country.
• Tokocrypto obtained the license from the Commidity Futures Trading Regulatory Agency (Bappebti).
• Binance CEO Richard Teng says the exchange will continue to support the Indonesia-based subsidiary.

Binance subsidiary Tokocrypto has secured regulatory approval as a Physical Crypto Asset Trader (PFAK) from Indonesian regulator Commidity Futures Trading Regulatory Agency (Bappebti).

In an announcement on September 9, Tokocrypto revealed the milestone comes after a rigorous licensing process dating back to 2019 when the cryptocurrency exchange first received a nod as a Prospective Phyisical Crypto Asset Trader (CPFAK).

PFAK approval sees Tokocrypto become the third digital assets exchange in Indonesia to secure this crucial license.

“We are proud of this achievement to become the third exchange to receive PFAK license in Indonesia, the market which has 35 prospective crypto exchanges registered with Bappebti. This is an essential part of our strategy to build a solid foundation in the crypto-asset ecosystem in Indonesia and ensure that we can provide the best services to our customers,” Yudhono Rawis, CEO of Tokocrypto, said.

Binance to support Tokocrypto further

The license also means that the platform now fully meets all regulatory requirements for crypto exchanges in Indonesia, Binance said in a blog post.

Commenting on the milestone, Binance CEO Richard Teng said approval means Tokocrypto has strengthened its standing as a crypto trading provider in Indonesia.

Binance, which acquired Tokocrypto in 2020, will also continue to support the exchange amid its quest to drive Web3 adoption in the region, Teng noted.

Congrats to @Tokocrypto, a part of the #Binance group, for securing a full license in Indonesia!

Excited to continue supporting Tokocrypto in its mission to drive Web3 growth in the region.https://t.co/R9DhIFcO5b

— Richard Teng (@_RichardTeng) September 9, 2024

Tokocrypto’s growing market size has come as cryptocurrency benefits from a broader regulatory clarity in Indonesia.

While the government envisions a stricter framework for the sector, its largely positive approach is helping industry players. It’s this environment that has seen Tokocrypto grow its user base to over 4.5 million amid increase in monthly average volume – up 138% year-to-date.

The post Binance subsidiary Tokocrypto secures major license in Indonesia appeared first on CoinJournal.

The post Binance subsidiary Tokocrypto secures major license in Indonesia appeared first on CryptoSens.

• Mark Karpeles to launch EllipX crypto exchange in Europe.
• EllipX will comply with EU MiCA regulations, offering a crypto-only platform at launch.
• Former Mt. Gox users will get a 50% trading fee discount tied to NFTs as a goodwill gesture.

Mark Karpeles, the former CEO of the infamous Mt. Gox exchange, is set to launch a new cryptocurrency exchange, EllipX, this September in Poland.

The 39-year-old entrepreneur is determined to re-enter the crypto world with a platform designed to prioritize transparency, security, and user-friendliness, aiming to help newcomers navigate the complex world of digital assets.

According to a statement issued on X, Karpeles says that he is launching EllipX Exchange to “show that exchanges can be more secure and transparent.”

Mark Karpeles targets European users with EllipX

EllipX will initially serve European users, with plans to expand globally. The exchange will start as a crypto-only platform, with the potential to add banking and fiat services later.

Karpeles has emphasized that EllipX will fully comply with the European Union’s Markets in Crypto-Assets Regulation (MiCA), reflecting a strong commitment to regulatory adherence in an industry where compliance is often a contentious issue.

Karpeles plans to implement regular third-party audits and involve third-party clearing houses like BitGo to ensure secure and transparent transactions.

Notably, EllipX will compartmentalize its operations, drawing inspiration from the New York Stock Exchange’s structure. This innovative approach will see the exchange divided into different entities, with a broker side dealing with customers, a matching side handling trades, and a storage side responsible for storing crypto and fiat.

This structure aims to eliminate the opacity that often plagues smaller exchanges, distinguishing EllipX from its competitors.

50% discount on trading fees for former Mt. Gox users

In a bid to rebuild trust with those affected by the Mt. Gox collapse, Karpeles is offering a 50% discount on trading fees at EllipX for former Mt. Gox users.

This discount is tied to non-fungible tokens (NFTs), dubbed ‘MtGoxNFT,’ released for Mt. Gox users a few years ago. While only a small number of the million affected users have claimed these NFTs, Karpeles hopes this gesture will help him reconnect with the community.

Karpeles will serve as the Chief Technical Officer of EllipX, overseeing all technical aspects of the exchange which aims to aims to set a new standard for transparency and security.

The post Former Mt. Gox CEO Mark Karpeles to launch EllipX crypto exchange appeared first on CoinJournal.

The post Former Mt. Gox CEO Mark Karpeles to launch EllipX crypto exchange appeared first on CryptoSens.

Crypto exchange Bitpanda and trading platform CoinMENA have announced a strategic alliance aimed at bolstering the latter’s efficiency.

CoinMENA has operational licenses from the Central Bank of Bahrain and the Dubai Virtual Asset Regulatory Authority (VARA). The platform’s strategic partnership with Bitpanda also seeks to boost the Middle East & North Africa focused crypto entity’s suite of available digital assets products and services.

Market demand

In a comment, CoinMENA co-founders Dina Sam’an and Talal Tabbaa note:

“We are excited to partner with Bitpanda Technology Solutions, an industry leader that shares our commitment to providing top-tier crypto asset trading services. This collaboration will not only enhance trading efficiency but also fulfill one of the most requested features from our users, enabling us to add new crypto assets more rapidly to meet market demands.”

Sam’an also commented on the partnership via a post on X on Aug. 26.

Thrilled to announce our strategic partnership with @Bitpanda_global! Together, we are enhancing trading efficiency and expanding our crypto asset offerings at @CoinMENA. This collaboration marks a significant step forward in our mission to provide users with the most reliable… pic.twitter.com/7nq2YwkFHM

— Dina Sam’an | دينا سمعان (@DinaSaman_) August 26, 2024

Bitpanda will act as a liquidity provider for CoinMENA, enhancing the exchange’s trading efficiency and user experience.

“The MENA region is one of the most ambitious and innovative regions in the world when it comes to crypto assets,” Bitpanda global head Nadeem Ladki, noted. “Bitpanda Technology Solutions provides institutions in the region access to one of the broadest ranges of crypto assets available, in a fully modular way, all with a highly regulated and trusted partner,” Ladki added.

Bitpanda recently partnered with UAE’s RAKBANK to expand the digital assets space in the UAE. The exchange has also joined forces with Coinmotion and struck a major deal with Serie A giants AC Milan.

The post Bitpanda partners with CoinMENA to boost crypto adoption appeared first on CoinJournal.

The post Bitpanda partners with CoinMENA to boost crypto adoption appeared first on CryptoSens.

• Poodlana listed on Raydium after concluding its $8 million presale.
• MEXC is the first major crypto exchange to add a new token  pair POODL/USDT at 12pm UTC on August 19, 2024.
• Speculation is high about what major exchange will list POODL on August 23.

Poodlana went live on the decentralized exchange (DEX) after its highly successful presale that raised $8 million. Sentiment has moved a notch higher with the meme coin set to hit its first CEX listing.

More details about Poodlana (POODL) and latest top events are available on the official website.

Poodlana hits milestone with MEXC listing

On August 19, the Poodlana token will go live on MEXC – a new milestone that will then be followed by another top-tier exchange listing on August 23. That would be three major listings within days for the Solana meme coin.

With the MEXC listing, Poodlana is landing on a top crypto exchange with a global market reach. The latest ranking puts MEXC in 11th spot in the world by trading volume and among the top three in terms of markets.

The MEXC market reach sees it command a daily trading volume of over $1.4 billion.

Furthermore, MEXC supports over 800 coins and is one of the top tier exchanges for supported currencies, which includes USD, EUR, KRW, TRY and JPY.  The exchange will initially list the POODL/USDT pair, with this coming at 12 pm UTC on Monday, August 19.

MEXC announced on Monday that the POODL Launchpad concluded successfully and deposits are now open ahead of listing in the Innovation Zone.

We’re thrilled to announce that the @Poodlana Launchpad has concluded and $POODL will be listed on #MEXC!

Deposit: Opened
POODL/USDT Trading in Innovation Zone: 2024-08-19 12:00 (UTC)

Details: https://t.co/pnvya6KS5E pic.twitter.com/t5v1rOxZaL

— MEXC (@MEXC_Official) August 19, 2024

According to the team at Poodlana, MEXC is just the beginning of major milestones in the trading market. Three days after the first CEX launch, POODL will land on another top exchange, news of which has elicited massive speculation across the community.

Top of the speculation table is whether the next major exchange listing could be the world’s leading trading platform Binance. Poodlana has teased the next listing as set for August 23, 2023.

And you thought the first CEX was hot, darlings?

Wait until you see what’s coming next for POODL darlings!

— Poodlana (@Poodlana) August 18, 2024

What next for Poodlana?

After making its debut on Raydium, POODL’s launch on MEXC and potential listing on another platform has only ramped up interest in the new Solana-based meme coin. The market visibility and new demand that this brings could be a major boost for POODL.

According to CoinShares, the past week showed a resilience for digital asset investment products with inflows of $30 million. While Bitcoin recorded significant inflows of $42 million and Ethereum slowed with just $4.2 million, there was a sharp drop for Solana.

However, despite the $39 million outflows, the market is largely bullish on SOL.

The picture is similar for the meme coin space on Solana, which experienced a massive decline in volume last week. Yet, the meme coin market looks primed for a new leg up and POODL could be among breakout performers.

Find out more about Poodlana and what’s next on the official website here.

The post Poodlana: First CEX milestone as POODL lists on MEXC appeared first on CoinJournal.

The post Poodlana: First CEX milestone as POODL lists on MEXC appeared first on CryptoSens.