Ripple(XRP) buys Icelandic Exchange

Ripple has bought an Icelandic exchange to further its presence in Europe. Iceland is not a part of the EU and has its own currency so it may also be opening up a new XRP corridors as well. This acquisition was for engineering talent and people who are familiar with exchanges and may pay dividends in the future.


Cryptopia is in Liquidation Mode

Cryptocurrency exchange Cryptopia, which got hacked early this year, is now in liquidation mode. Despite attempts to save the exchange, it was no longer profitable and will need to be liquidated. The assets have been frozen and there will be a deal to liquidate to please shareholders and customers. Customers should expect to lose a portion of their holdings in Cryptopia.

Binance Aiming to re-open early next week

Binance, which recently suffered a security breach and has suspended withdraws and deposits, is aiming to open next week. This suspension comes at a very bad time because Bitcoin skyrocketed to over $7,300 in the last few days and because several coins on Binance used Binance as their primary trade exchange, they were not able to fully partake in the bull run. Hopefully when deposits and withdraws re-open, these Alts will gain much ground on Bitcoin.

India Best-funded crypto exchange running out of money

The Reserve Bank of India’s Ban on cryptocurrencies for its banks is taking a heavy toll on crypto exchanges in the country and many have had to either move out or close. Today, it was reported that Unocoin, the best funded crypto exchange in India, has let go of some of its staff and is down to 14 employees. The exchange only has enough money for about 3 more months of operation. Since the supreme court will not rule until July, it is somewhat unlikely that they will survive the ban if they do not move out of India. Having no exchanges in India will make it nearly impossible for systems like Worldwire and X-rapid to function correctly in the country.

SBI Vctrade may actually not be delayed — no one knows

There was a lot of news yesterday coming out that said SBI’s Vctrade had be delayed until July this year. However, it seems this might have been too early a conclusion. SBI itself has not made an official statement and one prominent Youtuber has retracted an SBI delayed video(it was not me, mine is still there). There seems to be no confirmation either way coming out of SBI which is leaving XRP holders wondering what is going on. The statement on the English Translation of their investor’s presentation still says that the exchange has been delayed from March until July but it seems SBI themselves may be deciding what to actually do. I guess the rest of us will just have to wait to find out.

Cryptopia Hacked and may be out millions

New Zealand based cryptocurrency exchange Cryptopia has been hacked and it could be out several million dollars in assets. Reports of over 19,000 ETH being transferred soon before the exchange shut down put the losses north of $2.5 million. Right now it seems that the exchange will be shut down from Jan 14th to Jan 18th with it hopefully opening shortly afterwards. It is not known what will happen to user’s fund or if the exchange will attempt a “clawback” from existing users. The police are there investigating right now and hopefully will have updates shortly.

Litecoin gets the green light from Gemini Exchange, Bitcoin Cash unsure

Gemini Exchange has gotten regulatory approval to add Litecoin to their exchange and LTC will open for trading on Tuesday, October 16th. This makes Litecoin the 4th coin to be able to be traded on Gemini along with Bitcoin, Ethereum, and Zcash. Gemini Exchange is adding coins slowly because it is going with a security first approach and is following all regulations and procedures with New York State Regulatory bodies and watchdogs to do things the right way and to be sure to not get shut down by the SEC or state regulatlory agencies. Bitcoin cash was also slated for today but due to infighting within the team and the uncertainty of possible forks, Gemini has decided not to support the Crytocurrency for now.

YoBit Exchange announces public pump and dump scheme

The Yobit exchange, based in Russia, has tweeted out that they will run a pump and dump scheme every 24 hours by pumping a random small coin by 10btc, therefore skyrocketing the price. This is a bold move as P&D schemes are illegal in most countries and both the SEC and the CFTC are investigating this claim. However, since this exchange is based in Russia, I doubt these agencies can do that much about it. They may block the site from the United States but people can reach it by going through VPN and other means.
YoBit has never been a trusted exchange and there have been many complaints about trouble with withdraws and the exchange withholding funds. While there are many P&D groups that target a variety of exchanges, there has never been an exchange that has tweeted out that they are actively going to initiate one. Most of the large exchanges do buy and sell coins themselves, not to pump or dump prices, but for volume to make it look like they have activity. Even Coinbase has admitted to this. This happens at stock exchanges as well, especially among penny stocks. However, outright admitting of P&D price manipulation is a first and Yobit is probably doing this as a marketing move to attract speculators into their exchange. The fact that their exchange volume has gone up 60% in the last 24 hours tell me its working.