Category: Ethereum

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Crypto Exchange Zipmex resumes certain Altcoin withdrawals

Cryptocurrency exchange Zipmex has resumed withdrawals of some altcoins in addition to Bitcoin and Ethereum. So far, there are no updates on Bitcoin and Ethereum withdrawals. The withdrawal of withdrawals on Zipmex came after the other two exchanges Babel and Celsius froze withdrawals.

The cryptocurrency exchange has now started allowing users to withdraw some tokens from their trading accounts. Zipmex also mentioned a schedule for withdrawals of Solana, XRP and Cardano from merchant wallets. Market movers like Bitcoin and Ethereum still remain blocked.

The cryptocurrency exchange operates in Thailand, Singapore, Indonesia as well as Australia and has stopped withdrawals stating:

Volatile market conditions and resulting financial difficulties for our key business partners.

Sometime last week, the Securities and Exchange Commission of Thailand issued an order to the Zipmex Thailand unit asking them to resume withdrawals in some digital currencies. As per the schedule, Solana tokens will be delivered on Tuesday, while XRP withdrawals are expected to wait until Thursday; however, Cardano will be available for withdrawals on the same day as Solana.

Crypto Exchange Zipmex is working to recover deposits

Zipmex has a link to Celsius and Babel and mentioned that both companies have respectable status due to financial support. It also stated that due diligence was ensured in this case.

At the moment, the company continues with the recovery of deposits from Babel Finance. Along with that, the cryptocurrency exchange also assured that the bankruptcy rumors are false. He clarified that he requested a moratorium before the Singapore court.

This ensures that Zipmex has enough time to analyze the issues and decide on an outcome acceptable to customers. To address the current liquidity crisis, it is working with Celsius and Zipmex to find a rescue package with investors.

quoted zipex,

We promise to resolve the Z Wallet situation and resume services. That is why, after stabilizing the situation, we are releasing unaffected digital assets namely: ADA, SOL and XRP into users’ trading wallets starting tomorrow, August 2, 2022.

The road to recovery

An anonymous Zipmex shareholder made an additional investment in the company’s native token. This was done to support the company, increasing investor confidence. It also ensures that token development stays on track.

While the cryptocurrency exchange has not said anything about Bitcoin and Ethereum withdrawals, the move to unfreeze a select number of cryptocurrencies is a positive step towards recovery. In the month of July, co-founder Akalarp Yimwilai in a YouTube video was allegedly in talks with interested investors.

Regarding the same, the company mentioned that negotiations are still ongoing, but potential investors have already signed a confidentiality agreement after having examined the exchange’s finances. There is still no official statement on the outcome of these negotiations.

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Tether Launches Mexican Peso Tokens on Ethereum, Tron, and Polygon

Stablecoin issuer Tether Operations Limited announced that the company has launched a new token pegged to the value of the Mexican peso. According to the team, the newly launched MXNT tokens will initially be hosted on Ethereum, Polygon, and Tron.

Stablecoin MXNT is pegged 1:1 to the Mexican peso

Stablecoin and blockchain firm Tether has revealed that it has launched a new fiat-backed token that will join the company’s pool of stablecoins. Tether launched MXNT, a stablecoin pegged to the value of the Mexican peso.

Tether’s other fiat token offerings include the popular USDT, which is pegged to the US dollar, and EURT, which is pegged to the value of the euro. The company also offers CNHT, a token pegged to the offshore Chinese yuan, and Tether gold XAUT, a token pegged to the value of an ounce of fine gold.

Tether USDT is the largest stablecoin in existence today as it currently has a market valuation of around $73.2 billion. The token’s market cap represents 5.77% of the $1.27 trillion crypto economy.

Of the $86.43 billion in digital currency trading volume on Thursday, the connection volume is around $45.42 billion, or 52.55% of today’s global trading volume. In terms of bitcoin (BTC) trading pairs, USDT is the top pair with bitcoin, capturing 55% of today’s BTC trading volumes. Tether says that the launch of MXNT will be a “testing ground for the integration of new users in the Latin American market.”

Paolo Ardoino, CTO of Tether, detailed during the announcement that the company has seen the popularity of digital currencies increase in Latin America. “We have seen an increase in the use of cryptocurrencies in Latin America in the last year, which has made it clear that we need to expand our offerings,” Ardoino said in a note sent to Bitcoin.com News.

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Crypto Exchange Coinbase Reveals New DApp Wallet and Browser for Ethereum (ETH) Network

US-based cryptocurrency trading platform Coinbase is launching new ways for users to access decentralized applications (DApps) in the Ethereum (ETH) ecosystem.

The cryptocurrency exchange says it is launching a new DApp wallet and browser that will allow users to purchase digital collectibles, trade crypto assets on decentralized exchanges, and participate in decentralized finance (DeFi).

The new Ethereum-based wallet and DApp browser will be directly accessed from the Coinbase app and will initially be available to a limited number of US users. The DApp wallet and browser will also initially be available on the Android mobile operating system.

“We will launch the ability for a small set of Coinbase app users to access Ethereum-based DApps directly from the Coinbase app. This includes buying NFTs [non-fungible tokens] on marketplaces like Coinbase NFT and OpenSea, trading on decentralized exchanges like Uniswap and Sushiswap, and borrowing, lending or trading on DeFi platforms like Compound and Curve.”

According to Coinbase, interest in DApps and the third generation of the internet, or Web 3.0, skyrocketed with the total value locked in Ethereum-based DeFi protocols exceeding $110 billion, while token sales did not. Fungibles (NFTs) topped the US$30 billion. in the last 12 months.

One of the features of the new Coinbase DApps is an improved recovery process in case of loss of access to a device.

“With today’s release, users can explore DApps without having to manage a recovery phrase.

This innovative DApp wallet experience is powered by Multi-Party Computation (MPC) technology that allows you to have a dedicated on-chain wallet that Coinbase helps keep secure. This is due to the way this wallet is set up, which allows the ‘key’ to be split between you and Coinbase.

Ultimately, this means that if you lose access to your device, your DApp wallet key will still be safe and Coinbase can help you with recovery through our live support.”

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Trading App Giant Robinhood Lists Bitcoin (BTC) and Ethereum (ETH) Stocks in Grayscale

US trading giant Robinhood is adding two crypto-related products to its lineup for retail investors.

Investment asset manager Greyscale has announced that the company’s traditional investment vehicles for Bitcoin (BTC) and Ethereum (ETH) are launching on the Robinhood trading app.

There are two new ways to access crypto on @RobinhoodApp. You can start trading $GBTC and $ETHE today. https://t.co/n09aiEVhqEhttps://t.co/6tFrYCsmzx pic.twitter.com/AxKH7xZ0nS

— Shades of Gray (@Grayscale) May 6, 2022

The Grayscale Bitcoin Trust (GBTC) digital currency investment product was originally called the Bitcoin Investment Trust, created in September 2013, and offers institutional investors exposure to Bitcoin without the need to purchase or store it in person. Grayscale BTC Trust currently has $23.2 billion in assets under management (AUM).

Meanwhile, the Grayscale Ethereum Trust (ETHE) was founded in December 2017 and now has $8.4 billion in AUM.

Last October, Grayscale announced its intention to convert its Bitcoin fund into an exchange-traded fund (ETF), with the company’s global head of ETFs Dave LaValle saying:

“GBTC demonstrates that there is strong investor demand for physically backed Bitcoin investment vehicles.”

In November, filings with the US Securities and Exchange Commission (SEC) revealed that banking giant Morgan Stanley significantly increased its holdings in GBTC.

In January, Robinhood CEO Vlad Tenev mentioned the platform’s goal of adding crypto-related products to its platform.

At the time of writing, Robinhood quotes GBTC price down 1.08% and trading at $24.75, while ETHE is in the red down 1.6% with a value of 19.76 $.

Bitcoin itself continues the sell-off that began earlier Thursday when it was priced above $39,000, down 2.22% on the day and changing hands at $36,189 at the time of writing.

Ethereum is also struggling, falling sharply from Thursday’s high of $2,937 and currently priced at $2,711.

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Binance Launches Binance Bridge 2.0 to integrate CEFI and Defi

The service would allow users asset bridges of any block block to the BNB chain.

On March 29, the Centralized Cryptocurrence Exchange Bnance announced the Binance Bridge 2.0 impulse. The feature allows active users to tarnate any block block, even tokens that are not listed in the Binance application for the BNB chain. The bridges listed in billions will be stored in funding or in the portfolio to detect, while the not listed binding tokens will be transferred to the funding portfolio only.

Users can fill or bridge tokens between their native blocks of blocks and BNB chain through regular tank functions and removal. In the future, Binance also plans to create a better version of your mobile application to allow users to provide this conversion to facilitate through a single click. With regard to development, Mayur Kamat, Binance Manager, said:

"With Binance Bridge 2.0, we can make decentralized finances accessible to a larger public worldwide, while providing user-free user experience offered by centralized finance offerings. We are already seeing this through tremendous adoption of the Mini Pancheckap application.

Binance has also implemented a new automated token control system in Binance Bridge 2.0. The exchange will not maintain a surplus of fixed chips, also known as enveloped assets, except for a buffer size in hot portfolios. Instead, you will print additional tokens when users will remove fallen tokens into the BNB intelligent chain.

The company indicated that all other circulations will be supported by the native tokens deposited by the users of the original block tables. When users want to change the tokens glued to the original tokens, they can deposit the fixed sheets in the binave and remove the original tokens. Simultaneously, excessive tokens will be swept to the cold portfolio and will burn automatically.