Bitcoin risks ‘sharp weekend price swings’ as ETFs suck up liquidity

August 13, 2024 Coin Telegraph

Analysis

Bitcoin trading volume and liquidity are concentrated on weekdays due in part to ETFs and could cause more wild price swings on the weekend.

Bitcoin has become more susceptible to wild weekend volatility since the launch of spot Bitcoin exchange-traded funds (ETF) in the United States, according to Kaiko Research.

In an Aug. 12 report, Kaiko’s crypto analysts noted Bitcoin’s liquidity has become more concentrated on weekdays, particularly in BTC/US dollar markets.

It noted that weekend trading volatility has generally declined since 2021 and has previously reported that Bitcoin’s weekend trading volumes have dropped as institutional and ETF activity has grown.

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Wazirx to Reverse All Trades Made After Withdrawal Freeze

August 10, 2024 Bitcoin.com

balance

Indian crypto exchange Wazirx has decided to reverse all trades made after withdrawals were halted following the recent cyberattack. The exchange announced that this process will take place over the next few days, with all users’ portfolio balances on the platform being restored to their July 18 post-hack levels. Wazirx to Reverse Trades Following Withdrawal […]

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Binance Security Team Recovers $73 Million in Stolen Crypto Funds This Year

August 9, 2024 Bitcoin.com

Binance

Crypto exchange Binance’s security team has recovered or frozen over $73 million in stolen user funds so far this year, surpassing the $55 million recovered in 2023. This achievement highlights the company’s commitment to improving cryptocurrency security. Binance Recovers $73 Million in Stolen User Funds Crypto exchange Binance announced on Wednesday that its security team […]

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Wazirx Announces FIR Filing Following Major Cyberattack

August 6, 2024 Bitcoin.com

bitcoin.com

Indian crypto exchange Wazirx has updated users about the recent cyberattack, confirming the filing of a First Information Report (FIR) to address the hack. Cofounder Nischal Shetty emphasized that a police complaint was made the day after the attack. The FIR, filed nearly 20 days later, is part of an ongoing investigation by the Delhi […]

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Over $1B wiped out in crypto liquidations as global markets suffer

August 5, 2024 Coin Telegraph

Over B wiped out in crypto liquidations as global markets suffer

Bitcoin

Crypto traders faced significant losses as major cryptocurrencies, including Bitcoin and Ether, experienced a sharp decline, resulting in over $1 billion in liquidations.

Crypto investors and traders lost approximately $1.08 billion in total liquidations amid uncontrolled falling prices of prominent cryptocurrencies, including Bitcoin, Ether and Solana.

On Aug. 5, crypto market prices saw a significant decline owing to the weakening global economy, which was catalyzed further by the sudden crash of Japan’s stock market. In the process, nearly 300,000 crypto traders were liquidated from their leveraged positions or collateral trades, according to data from Coinglass.

Amid the ongoing bear market, the prices of the most popular cryptocurrencies depreciated, with Bitcoin (BTC) and Ether (ETH) falling by over 10% and 20%, respectively. As a result, crypto traders anticipating a prolonged bull run lost their positions in the bloodbath.

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Bahamas Enacts Digital Assets and Registered Exchanges Act

August 2, 2024 Bitcoin.com

bahamas

The Bahamas has enacted the Digital Assets and Registered Exchanges Act, 2024 (DARE 2024), establishing itself as a leader in digital asset regulation. Announced by the Securities Commission, DARE 2024 builds on the DARE Act, 2020, introducing significant reforms to address the evolving digital asset landscape. Christina Rolle, Executive Director of the Securities Commission, emphasized […]

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ByBit exchange halts operations in France

August 2, 2024 Coin Telegraph

Coin Telegraph

ByBit has been at odds with the Autorité des Marchés Financiers (AMF) since 2022 when the regulator blacklisted the exchange.

Popular cryptocurrency exchange ByBit announced it is halting operations in France and restricting account features for French users in an Aug. 1 press release.

ByBit cited "recent regulatory developments" by France's financial regulator, Autorité des Marchés Financiers (AMF), as the catalyst for halting operations in the European country.

The centralized exchange cautioned French users that their accounts will be "restricted to close-only" configuration, preventing new positions from being opened or new funds from being deposited across ByBit's services and products beginning on Aug. 2.

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Coindcx Urges Wazirx to Reconsider Passing 45% Losses to Customers

July 30, 2024 Bitcoin.com

bitcoin.com

The CEO of Indian crypto exchange Coindcx has criticized Wazirx’s approach in response to a recent $230 million cyberattack. Urging Wazirx to take responsibility, he stressed: “Making customers directly absorb the 45% losses is utter nonsense.” Wazirx is working to recover and reopen its platform, providing updates and taking legal actions, while assuring users about […]

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Wazirx Says ‘Poll Is Not Final’ — Shares Additional Cyberattack Recovery Plan

July 29, 2024 Bitcoin.com

bitcoin.com

Indian crypto exchange Wazirx has assured users that the poll conducted to gather input for reopening the platform following the recent major cyberattack is not final and “not legally binding upon the users or Wazirx.” Co-founder Nischal Shetty explained that Wazirx “will soon launch a feedback form to collect more ideas.” He emphasized the importance […]

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Wazirx Clarifies Recovery Options, Asset Valuation, and USDT Conversion After Cyberattack

July 28, 2024 Bitcoin.com

asset recovery

Indian cryptocurrency exchange Wazirx has answered important questions from its users about the recent cyberattack. The platform explained its socialized loss strategy and the options users have to recover their assets. Additionally, users inquired about asset valuation and token conversion to USDT. Wazirx Addresses Key Questions Following Cyberattack On Saturday, Indian crypto exchange Wazirx addressed […]

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