crypto exchange

Coinbase Eyeing US Stock Market Listing as Early as This Year

10/07/2020 by Idelto Editor

Coinbase Inc is planning a U.S. stock market listing for later this year or early 2021, Reuters reported on Thursday.

The plan is subject to approval by the U.S. Securities and Exchange Commission. If successful, Coinbase could become the first major American cryptocurrency exchange to go public.

Instead of an initial public offering (IPO}, where new shares are created, Coinbase is considering a direct stock market listing, Reuters reported, quoting three sources familiar with the plans.

In a direct listing, “no new shares are created and only existing, outstanding shares are sold,” eliminating the risk of diluting existing shareholding. Existing investors are not bound by any lockup period and can sell their shares directly to the public.

Reuters said the exchange has yet to register its listing intentions with the SEC, “but has been in talks to hire investment banks and law firms.” It is not yet clear which stock exchange Coinbase is targeting.

Valued at over $8 billion, Coinbase is one of the biggest crypto exchanges in the world. More than 35 million people use the 8-year old platform to buy and sell digital assets such as bitcoin (BTC), bitcoin cash (BCH) and ethereum (ETH).

Coinbase will not be the first cryptocurrency-related business to have its shares publicly traded on a U.S. stock exchange. Bitcoin mining equipment maker Ebang recently listed on the Nasdaq Stock Exchange. Canaan Creative’s shares are also listed on the same bourse.

However, the size of Coinbase’s business and its popularity makes its going public of great significance, particularly in an industry keen on gaining approval from mainstream, traditional investors, who, until now, have tended to dismiss cryptocurrency as a speculative asset.

Coinbase did not comment on the listing issue.

What do you think about Coinbase going public? Let us know in the comments section below.

The post Coinbase Eyeing US Stock Market Listing as Early as This Year appeared first on Bitcoin News.

Canadian Regulator Unveils the Truth Behind Collapsed Crypto Exchange Quadrigacx

12/06/2020 by Idelto Editor

The Ontario Securities Commission (OSC) has completed its investigation of what happened to the defunct cryptocurrency exchange Quadrigacx which owes over 76,000 clients a combined $215 million in assets. Supposedly deceased, its founder Gerald Cotten was found to have committed a series of fraud, the regulator details.

Quadrigacx Fraud: Exchange Owes 76,000+ Clients $215 Million

The Ontario Securities Commission has spent 10 months investigating what happened to the Quadrigacx cryptocurrency exchange. The regulator published a 33-page report of its findings on Thursday. The Canadian crypto exchange announced on Jan. 14, 2019, that CEO Gerald Cotten had died while on honeymoon in India with his wife, Jennifer Robertson.

Noting that “Over 76,000 clients were owed a combined $215 million in assets … Ernst & Young, the bankruptcy trustee, was able to recover or identify just $46 million in assets to pay out to clients,” the OSC staff detailed:

The downfall of crypto asset trading platform Quadrigacx (Quadriga) resulted from a fraud committed by Quadriga’s co-founder and CEO Gerald Cotten.

The Canadian securities regulator, the OSC, has published a report outlining what happened with crypto exchange Quadrigacx which collapsed after the death of its CEO. The platform owes over 76,000 customers millions of dollars.

The OSC staff found that Cotten “spent, traded and used” at will the assets clients deposited with Quadrigacx. “Cotten was able to misuse client assets for years, unchecked and undetected, ultimately bringing down the entire platform,” the staff’s report details.

The Quadriga exchange was cofounded by Cotten and Michael Patryn in 2013; it was incorporated in British Columbia with Cotten as the sole director. Patryn was convicted in the U.S. in a money-laundering case in 2015 under his prior name, Omar Dhanani. He left Quadrigacx in 2016, leaving Cotten with complete control of the platform.

Quadrigacx Is a Ponzi Scheme

The OSC staff found most of the $169 million asset shortfall — approximately $115 million — “resulted from Cotten’s fraudulent conduct, which took several forms.” Cotten “opened Quadriga accounts under aliases and credited himself with fictitious currency and crypto asset balances which he traded with unsuspecting Quadriga clients,” the OSC staff described. “He sustained real losses when the price of crypto assets changed, thereby creating a shortfall in assets to satisfy client withdrawals. Cotten covered this shortfall with other clients’ deposits.” The staff continued, “In effect, this meant that Quadriga operated like a Ponzi scheme.”

Cotten also lost an additional $28 million while trading client assets on three external cryptocurrency trading platforms “without authorization from, or disclosure to, clients,” the OSC staff further added, elaborating:

He also misappropriated millions in client assets to fund his lifestyle. In its final months, Quadriga had almost no assets left and was operating like a revolving door — new client deposits were immediately re-routed to fund other clients’ withdrawals.

However, many believe that Cotten is still alive and faked his death as an exit scam. Some have called for an exhumation and autopsy of his body. The platform ceased operations by Feb. 5 and filed for creditor protection. The complete OSC report on Quadrigacx can be found here.

What do you think about Quadrigacx and Cotten’s action? Let us know in the comments section below.

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Bitcoin.com Exchange Lists ESH Token Support Prior to John McAfee’s Ghost Airdrop

21/05/2020 by Idelto Editor

In mid-April, news.Bitcoin.com reported John McAfee’s new privacy token called Ghost, as the former anti-virus tycoon detailed “governments will be unable to shut it down.” Ghost won’t be distributed in the usual fashion by leveraging an initial coin offering (ICO), as the project will instead utilize the airdrop process. In order to obtain the Ghost token, recipients will need to hold a specific ERC20 token called ESH. Today, Bitcoin.com’s cryptocurrency trading platform announced that ESH will now be listed, so users can obtain the token in order to participate in the Ghost airdrop or trade against it using Bitcoin.com’s powerful trading engine.

The Bitcoin.com Exchange continues to improve and add new features to the overall trading experience. Just recently, the trading platform announced the listing of the BTCSHORT token produced by Amun, which allows people to gain exposure to -1x the daily price performance of BTC. On Friday, May 22, 2020, the Bitcoin.com Exchange is adding the ESH token, a coin that was recently introduced for John McAffee’s decentralized exchange (dex).

Now Bitcoin.com Exchange clients can obtain ESH and use the tokens on McAfee’s dex or they can use Bitcoin.com’s trading platform to bet for or against the coin. Another option is for people to hold ESH, this is because ESH holders will be qualified to get some of the Ghost token supply during an Airdrop on May 25, 2020.

25% of the Ghost token supply will go to ESH holders based on a May 25, 2020, snapshot of the distributed ledger at 8 p.m. CST. Distribution for ESH holders will be 1:1, which means if you hold one ESH you are eligible for a single Ghost token. Ever since this airdrop was announced, the ESH token has been in high demand and the price has jumped 17,500% in a matter of days.

McAfee has said that the creation of the Ghost token helps fulfill his dream to make privacy-centric crypto transactions the new norm. Ghost was created to allow anyone in the world to trade across any borders on the web “without a trace.” To McAfee, BTC is limited by the publicly available hashes on the web, alongside the transactional history of coins and addresses.

“Ghost aims to bolster private transactions on the web, without sacrificing the ease of transacting,” explains the token’s creators.

For people who share McAfee’s vision of privacy, they may want to look into ESH and Ghost and can easily participate in the airdrop by leveraging ESH before the May 25 distribution period. If you are interested in one of the fastest trading engines on the market and want to start trading digital assets today, then check out Bitcoin.com’s Exchange. The trading platform is easy to leverage, and people can trade a number of popular coins like bitcoin cash (BCH), litecoin (LTC), ripple (XRP), tron (TRX), zcash (ZEC), stellar (XLM), dash (DASH) and eos (EOS), bitcoin (BTC) and more.

What do you think about Bitcoin.com Exchange listing ESH? Let us know in the comments below.

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Anyone Can Host a Crypto Exchange – Tim Draper Backed Startup Launches New WordPress Plugin

22/04/2020 by Idelto Editor

There’s a new plugin available that gives people the ability to launch a cryptocurrency exchange on any WordPress-based website. The project called Wpcryptoexchange is a product created by the Tim Draper-backed startup Draper Goren Holm. With the plugin, anyone can launch a digital currency trading platform that allows people to swap various cryptos and also allows website owners to collect trading fees.

Now Anyone Can Host a Crypto Exchange on Their WordPress Website

A developer named Goren Holm has released a new WordPress (WP) plugin that makes it so anyone can create a crypto exchange on a WP-based site. Holm’s new release leverages open source software called the Totle application programming interface (API). The API makes it so website owners can allow swaps using various cryptocurrencies including ETH, DAI, BAT, and WBTC.

“Using Totle’s API, I created a way for anyone to add a decentralized crypto exchange to their WordPress website,” Holm’s webpage called wpcryptoexchange.com explains. “It’s as simple as installing the plugin and typing [wpdex] into any page or post on your WordPress site.”

The step-by-step directions for installing the wpcryptoexchange plugin is fairly self-explanatory, and only takes a few minutes to get started. Essentially, all you have to do is download the zip file and unzip it with the plugins admin on any WP website. Then you need to click the “add new button” at the top and select the “Crypto-Exchange.X.X.zip” file you downloaded and finally upload it to the back end. After that, you simply activate the plugin and type: “[wpdex] into a page or post on your site, you’ll have your own cryptocurrency exchange that will route the trades across all decentralized exchanges,” the developer’s website details.

Applications Like Exchange-Powered WordPress Plugins Can Further Decentralize the Crypto Trading Industry

The venture capitalist Tim Draper, the well known investor who predicts that one BTC will be worth $250K by 2024, partnered with Holm last year. Moreover during the last two years, noncustodial and decentralized exchange (dex) platforms have been extremely popular. Especially since the strong arm of regulation has been cracking down on the crypto industry worldwide.

With Holm’s application, it means anyone can launch a crypto trading platform on their site, with just a few instructions from the developer’s webpage. Further, the Totle API can also be installed as a small crypto exchange widget, which can allow trading as well. If anyone can simply create a dex application with ease and host it on their website, regulators will have a hard time stopping free-market crypto trades. Both Totle and the wpcryptoexchange protocol’s codebases are available for review, so people can also check the software’s code for any vulnerabilities.

What do you think about the wpcryptoexchange plugin? Let us know in the comments below.

The post Anyone Can Host a Crypto Exchange – Tim Draper Backed Startup Launches New WordPress Plugin appeared first on Bitcoin News.

Sensorium’s Senso Token Lists on the Top Ten HitBTC Cryptocurrency Exchange

06/04/2020 by Idelto Editor

The move follows a similar listing on the KuCoin exchange and will drive further usage of cryptocurrencies as the innovative Sensorium Galaxy platform is set to attract millions of users worldwide.

Los Angeles, 06 April, 2020: Sensorium Corporation has listed its digital currency Senso Token on HitBTC one of the oldest and most advanced cryptocurrency platforms operating today. The move follows a recent listing of Senso Token on the KuCoin cryptocurrency platform and signals Sensorium’s intention to expand its operations and enable users to engage deeply with Sensorium Galaxy, the unique and industry leading 3D social virtual reality platform.

HiBTC is one of the world’s top 10 and most popular cryptocurrency exchanges. Users can use the token to make Sensorium Galaxy gaming-related purchases and exchange content. Third party developers can use it to create unique in-location environments and customised events for the 3D virtual environment. Supported trading pair includes SENSO / USDT.

Brian Kean, Chief Communication Officer, Sensorium Corporation said: “This listing on HitBTC reflects our ambitious growth plans. We are in negotiations with world-leading artists and venues to create 3D social experiences unique to Sensorium Galaxy and as such as the platform develops we are anticipating millions of users worldwide. The HitBTC listing will provide these users with the means to buy and sell within the games. It also follows a recent listing on the KuCoin cryptocurrency exchange both of which reflect our strong commitment to and ardent belief in the significant future of cryptocurrencies.”

The Senso Token has been developed on the Ethereum network, the global decentralized platform for digital currencies and meets the ERC20 standard, the de facto technical standard for token implementation on the Ethereum blockchain.

Peter Swen, HitBTC, Marketing team said: “As a company fully committed to the advancement and growth of financial technology we are pleased to integrate the Senso Token into our platform. The inroads that the Sensorium Corporation is making into the digital gaming space are significant and as our industry expands we look forward to working with the Sensorium team.”
Sensorium Galaxy brings a new form of entertainment and social engagement to the world by providing multi-user access to 3D virtual entertainment worlds. For instance, users will be able to visit unique concerts and events with friends, attend in real-time, create their own avatars, buy content and interact with their friends and other attendees at the event, all within a 3D world.

HitBTC is a crypto exchange that has over 800 trading pairs. The platform was created in 2013, and provides exchange, custodial and other related services. The UI was developed to meet the needs of the most demanding and sophisticated traders. User security is reportedly secure via stringent security procedures, including cold storage and encryption technology. HitBTC also offers 2-factor authentication and various whitelists. The platform has an LD4 Data Center in London, which has reportedly decreased its data-access latency while expanding the platform’s technical capabilities.

About Sensorium Galaxy
Sensorium Corporation, together with Redpill VR, is currently developing the Sensorium Galaxy social virtual reality platform which enables the seamless broadcast of synchronized virtual reality content to users all around the globe. This platform signals a radical change in the way users can experience virtual reality, moving beyond its previously solitary nature. Sensorium Galaxy enables users to interact with each other as events are either live-streamed or accessed from a library. Sensorium Galaxy also signals an evolution of social networks, with users not confined to one-dimensional platforms, but able to engage and interact with friends and other users in a virtual environment. Sensorium Galaxy will be comprised of themed planets that present users with different options for social interaction.

About Sensorium Corporation
Sensorium Corporation is a technology company that creates digital simulations of real-world venues and virtual worlds in cooperation with its content partners – globally recognized concert venues, clubs and festivals. Investment in the project to date is approximately $70 million, and it has come from a group of EU companies in both the gaming and entertainment industries.
For more information, visit sensoriumxr.com

About HitBTC
HitBTC is a crypto exchange that has over 800 trading pairs. The platform was created in 2013, and provides exchange, custodial and other related services. HitBTC offers a range of APIs such as REST, WebSocket, FIX API. The UI was developed to meet the needs of the most demanding and sophisticated traders. Users can take advantage of rebates and competitive trading fees via the Trading Fee Tier system.

Contact Email Address
[email protected]

Supporting Link
https://sensoriumxr.com/

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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