India tops global crypto use despite offshore exchange ban
India ranked first in Chainalysis 2024 Global Crypto Adoption Index, in addition to ranking second in the CSAO region in terms of crypto value received.
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India ranked first in Chainalysis 2024 Global Crypto Adoption Index, in addition to ranking second in the CSAO region in terms of crypto value received.
HTX Ventures 2024 Half-Year Investment Report reveals targeted investments in BTCFi, multichain infrastructure and user experience, which aim to unlock Bitcoins potential in DeFi and enhance blockchain interoperability.
HTX integrates Fireblocks Off Exchange to mitigate counterparty risk and enhance digital asset security and user experience. (Read More)
HTX, aSingapore-based cryptocurrency exchange, has announced the appointment ofHassan Sunny, the national football team goalkeeper, as its new ChiefSafeguarding Officer (CSO).
Althoughthe move is promoted to bolster the exchange's commitment to ensuring thesafety and security of user assets in the crypto world, It is essentially asponsorship agreement with a new ambassador from the world of sports.
HTX Appoints Hassan Sunnyas Chief Safeguarding Officer
Sunny, who recently gained national hero status in China for his performance in the 2026FIFA World Cup Asian Qualifiers, has been the goalkeeper for the Singaporenational team since 2004, playing 115 matches during this time. Since 2023, hehas also been associated with the local club Albirex Niigata.
During the mid-June match against Thailand, he saved 11 shots from theopposition, ultimately eliminating Thailand from further qualifyingcompetitions and helping China to advance to the next phase of the competition.
"Thepartnership between HTX, the 'People's Exchange', and Hassan Sunny, the'People's Goalkeeper', is a perfect match," said Justin Sun, the Member ofthe HTX Global Advisory Board.
HTX hasestablished its latest sponsorship collaboration with a popular Asian athlete at a time when its trading volumes have significantly increased. FinanceMagnates reported at the end of May that the exchange surpassed Coinbase byreaching $2.4 billion in spot trading volume.
For the first time, @HTX_Global has more spot trading volume than @coinbase. This is just the beginning, and we are just getting started. pic.twitter.com/VeYHFCviHy
H.E. Justin Sun (@justinsuntron) May 27, 2024"Justas Sunny fearlessly protects his goal on the field, HTX is committed toprotecting every user's assets with the same determination and resolve,providing the safest and most reliable investment environment possible, addedSun.
From Huobi to HTX:Navigating Brand Changes and Security Setbacks
LastSeptember marked a significant milestone for the cryptocurrency exchangeformerly known as Huobi, which rebranded itself as HTX to celebrate itstenth anniversary.
The newlyadopted name HTX is imbued with symbolism: 'H' for Huobi, 'T' for TRON, and 'X'reflecting the essence of an exchange. This change commemorates a decade of operation and aligns the name with the exchanges nativecryptocurrency, represented by 'HT', and the Roman numeral 'X' for ten.
However, HTX encountered serious security issues during its evolution. A major cyberattack in September 2023 led to a loss of $7.9 million in digital assets. The blockchain analytics company Cyvers detected and publicized this breach.
Thetroubles continued into November when another breach resulted in a $30 millionloss, forcing HTX to cease operations temporarily. This incident triggered asharp withdrawal of funds by investors. Between the resumption of services onNovember 25 and December 10, HTX saw a net outflow of $258 million, as reportedby DefiLlama.
This article was written by Damian Chmiel at www.financemagnates.com.
The creditors' claims were sold for cash to Delaware-based Ceratosaurus Investors LLC.
Cryptocurrency trading platform HTX, formerly known asHuobi, has surpassed the United States-based exchange Coinbase in terms of spottrading volumes.
Tron founder Justin Sun, who serves as an adviser to HTX andholds substantial assets on the platform, announced on May 27 that HTX hadoutpaced Coinbase in spot trading volume for the first time.
Emerging as the Fourth-Largest Crypto Exchange
According to CoinGecko data, HTX currently facilitatesapproximately $2.4 billion in spot trading volumes daily, securing its positionas the fourth-largest crypto exchange globally, following Binance, Bybit, OKX,and Gate.io. In contrast, Coinbase trails behind HTX and Bitrue exchange, withapproximately $2 billion in spot trading volumes.
For the first time, @HTX_Global has more spot trading volume than @coinbase. This is just the beginning, and we are just getting started. pic.twitter.com/VeYHFCviHy
H.E. Justin Sun (@justinsuntron) May 27, 2024This is just the beginning, and we are just gettingstarted, said Sun.
HTX SURGES PAST COINBASE FOR SPOT TRADING VOLUMEThis is just the beginning, and we are just getting started- As announced by $TRX founder, @justinsuntron, the @HTX_Global exchange (for which he is an advisor) has, for the first time ever, flipped @Coinbase in terms of spot https://t.co/ca8kjnW2s7 pic.twitter.com/3XhEMoA5uH
BSCN (@BSCNews) May 28, 2024Coinbase Faces Regulatory Challenges
Coinbase's decline in exchange volume rankings coincideswith ongoing legal challenges in the United States. The company has beenembroiled in a securities violation lawsuit filed by the US Securities andExchange Commission (SEC) in June 2023.
Despite Coinbase's efforts to defendits case, a US court's decision in March 2024 denied the exchange's motion todismiss the SEC's allegations, allowing the regulator to proceed with itslawsuit. The SEC accuses Coinbase of operating as an unregistered exchange,broker, and clearing agency.
On May 24, Coinbase submitted a memorandum supporting its interlocutoryappeal, aiming to challenge a pivotal ruling in the ongoing legal battle.
This article was written by Tareq Sikder at www.financemagnates.com.Coinbase's volume rankings have plummeted, ceding ground to the Justin Sun-affiliated HTX crypto exchange.
In a recent development observed by onchain alerts, the entity responsible for exploiting the Heco bridge and siphoning off millions in ethereum late in November 2023 from the conduit bridge connecting Ethereum and the Heco blockchain, transferred 40,391.8 ether to the mixing platform Tornado Cash. Heco Bridge Exploiter Transfers Millions Worth of Ether to Tornado [...]
The post Heco Bridge Hacker Moves $137 Million in Stolen ETH to Tornado Cash appeared first on Crypto Breaking News.
Justin Sun, the founder of TRON and CEO of BitTorrent, has recently found himself embroiled in a feud with HTX, a controversial blockchain project. The beef between Sun and HTX has escalated, drawing attention from the cryptocurrency community in India and across Asia. The animosity between Sun and HTX reportedly stems from conflicting ideologies regarding [...]
The post Justin Sun Sparks HTX Feud as India Reconsiders Stance on Cryptocurrency: Asia Express appeared first on Crypto Breaking News.
In a bold move to assert his active involvement in the HTX cryptocurrency exchange, Justin Sun recently showcased his substantial Bitcoin holdings. On Tuesday, Sun, the notable figure behind the TRON blockchain, took to social media to dispel doubts about his utilization of HTX, sharing a screenshot of his HTX wallet displaying a staggering 28,614 […]
HTX has swiftly retracted its application for a crypto license in Hong Kong, just three days after initially submitting it. This decision, as revealed on the Securities and Futures Commissions (SFC) official website, where a list of crypto exchange license applicants is published, coincides with similar actions from three other firms who also withdrew their […]
Only two days before the deadline, HTX withdraws its newly-requested crypto license application.
Justin Sun, the founder of Tron, deposited 29,920 ETH worth $119.7 million into HTX just nine hours ago, coinciding with Ethereum’s price surpassing the $4,000 threshold. This substantial transaction is part of a broader investment strategy where Sun accumulated 392,474 ETH between February and August of this year. The average
Binance, a global leading cryptocurrency exchange has recently marked another history after hitting $100 trillion trading volume in both spot and derivatives trading. This milestone puts Binance light years ahead of its competitors and marks a new chapter in the trading of digital assets. In the latest report, it emerged that Binance is the exchange […]
The developer of a post-apocalyptic Web3 game sued market maker Jump Crypto for allegedly dumping its coins on the market in breach of its contract.
In 2024, Binance's dominance in the crypto exchange market diminished, while Bybit saw significant growth in spot trading and Bitget excelled in derivatives trading.
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