News Development in Exchanges
All Pre-Hacking Trading Operations Resumed by Coincheck
Deposits and purchase for XRP and FCT have been reinstated by Coincheck. This implies the resumption of services for all cryptocurrencies that were existent at the time of the NEM hack in January when about $530 million of funds were taken from the exchange.
Not just did Coincheck reinstated all its services, it added new account signups, yen deposits and withdrawals, cryptocurrency deposits and trade, and its lending service. However, the exchange is yet to reinstate yen deposits through convenience stores, and also its Coincheck Payment platform and leveraged transactions for new positions.
The company issued a press release in which it states that it has been “working to improve its management structure and internal control” since the hack.
Bitmex Insurance Fund Grows Significantly
On Nov. 25, 1,452,6 BTC were added to the Bitmex Insurance Fund. The fund now holds 18,851 BTC.
Bitmex states that the insurance fund is used to avoid auto-deleveraging traders’ positions. It “grows from liquidations that were able to be executed in the market at a price better than the bankruptcy price of that particular position.”
Twitter noted the increase in the fund’s holdings. “Bull case for #Bitcoin: Soon most $BTC will be locked up in the @BitMEXdotcom insurance fund,” WhalePanda tweeted. The fund’s BTC holdings had increased by 685 since Nov. 25 at the time of writing.
Bhex Exchange to Be Launched by Former Huobi
It was announced by Bhex, an exchange that was founded by former Huobi Chief Technology Officer James Ju, that its operations will be launched at the end of this month. According to them, the exchange has raised $15 million in equity financing, with Huobi, Genesis Capital and Okex among its investors.
The exchange released a press statement saying that Bhex’s founding members hail from a number of major technology and finance companies, including Google, Alibaba, Tencent, Baidu, and Barclays Capital. Bhex has offices in Singapore, the US, and the UK.
