crypto bridge announces the closure of its platform
For instance, an account named CryptoBridgeEU began posting messages that conflicted with the platform’s original announcement, claiming that CryptoBridge’s closure was only temporary. If the new collection of data is married with the storage of data (GDPR) this becomes a massive undertaking for a smaller firm. Public sale slated for November, details to be announced in the coming weeks. The innovative platform began offering Bitcoin in 2014, and at the time of writing – mid 2018 – eToro has 10 cryptos available to buy outright. CryptoBridge carried PigeonCoin, an asset that has been attacked by malicious mining, potentially stealing coins. Trade Boasting a community of over eight million people, eToro is one of the leading global trading and investment platform – and it specialises in cryptocurrencies. Through this bridge, the developers can integrate cross-chain logic in their smart contracts to create interoperable dApps. Around the same time, the Waves DEX also shut down to resume operations as a hybrid exchange. CryptoBridge held 126 trading pairs for relatively unknown coins, and only had a turnover of around $84,000 per day, as last reported by CoinMarketCap. The closing of CryptoBridge arrives after smaller exchanges were pressured by the loss of volumes for obscure digital coins. Banking on this demand... 2020 was the year of DeFi, not just in terms of the explosive price increases – but the technological advances and support from public figures. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. This feature distinguishes DEXs from centralized exchanges — which see significantly more use, accounting for more than 99% of the global cryptocurrency trade volume. I never heard back from them. We are only temporarily shutting down. However, the dramatic notice may actually be a publicity stunt. In October 2019, the exchange announced that all its new and existing and customers were required to submit user verification before continuing to deposit and withdraw funds in order to protect both themselves and CryptoBridge from “being held responsible for any illegal intentions or money laundering activities.” The statement read: “We are facing the 5th EU Anti-Money Laundering Directive (AMLD5) and will adjust our gateway services to pave the way for CryptoBridge moving forward.”. https://client-crypto-bridge.com 38852.4594 RVN will be distributed in your account. Dash FastPass Rollout Across Top Cryptocurrency Exchanges Sparks Bullish Surge, Christine Vasileva Their roadmap shows which goals have been reached, which are in progress, and which are planned for the future – but no dates for any of these milestones! Elrond and Reef Finance have entered into a partnership to enable Reef users to directly access DeFi applications in the Elrond ecosystem. Tezos [XTZ] has had a good 2021, with the cryptocurrency’s price noting year-to-date growth of over 158%. but there is one obstacle. Its first product, the Asset Collision Identifier, lets service providers confirm the uniqueness of crypto wallets. DEXs and the regulatory uncertainty surrounding them. The platform is … u/Apollohasgas also suggested that some users will just accept that their funds are being confiscated “rather than supply the requested personal information.” Indeed, another Redditor, u/KeepitRaul, told Cointelegraph that he chose not to withdraw his funds. The Moonbeam and Ocean teams have completed the first part of an initial integration: a successful deployment of Ocean’s contracts to Moonbeam. London, UNITED KINGDOM, March 1st, 2021 – BeInCrypto, one of the world’s largest and fastest-growing crypto news and education platforms, is delighted to announce a new partnership with the Cryptocurrency and Blockchain Society at the University of Leeds (LUUCABS), the United Kingdom’s (UK) first undergraduate blockchain society. The crypto market is booming, the market capitalization of the cryptocurrency network is now above $758.06 billion. The shutdown of CryptoBridge is happening in an orderly manner, and there is no specific reason pointed for the shutdown. Mamun007 replied to Muneeb's topic in Crypto World While some of the airdrops I attended have proven to be original, I think the airdrops are a very good point of view, as long as their whitepaper is carefully read and everything goes well. Atari announces IEO collaboration on Bitcoin.com Exchange via its multi-asset trading platform. This increases the profitability of the market, keeps attracting the notice of investors. What do you think about the CryptoBridge shutdown? Lack of resources due to downscaling further supported this decision.”. Crypto exchanges are now busy seeking regions with favorable regulations. “Current team is planning to disband after the termination process is over,” the exchange’s representative told Cointelegraph. Thanks again for choosing CryptoBridge – have fun!
As … Powered by Linux - Created with ♥ by WebZein. So, should other crypto trading platforms, decentralized or not, be worried? In 2019, fewer exchanges remain that carry little-known coins and tokens. The PirateChain (ARRR) / Crypto Bridge Exchange (CB) fiasco reached a head earlier today in the PirateChain discord after the exchange finally published a statement ending over six months of silence regarding its closure of Piratechain (ARRR) deposits and withdrawals. The decentralized platform cited market conditions and increased regulations as driving factors for its closure. Should others be worried? Crypto World; CryptoTalk.Org Make posts and earn bitcoins! Bankman-Fried will also offer mentorship to hackathon participants alongside Solana CEO Anatoly Takovenko. Although there are more than 1,200 assets to trade on eToro, which was founded in 2007, it is in the crypto space that it is particularly popular. The platform, which was created as a multi-crypto wallet and token swap service, was launched primarily for users of the EOS blockchain. CryptoBridge is based in the US, and strict requirements may incur high operational costs. FreeBitco.in Gets the Ball Rolling on its Premium Membership Program. So, should other crypto trading platforms, decentralized or not, be worried? Non-lawyers typically think of companies as pure brands and can have a difficult time grappling with this reality.”. The exchange still has hold of some customer deposits, and will release the digital funds up until December 15. We use cookies to give you the best online experience. Published. As the CryptoBridge spokesman explained to Cointelegraph, the move was advised by the exchange’s legal team: “Suggestion from the legal team was to minimize negative publicity and efforts required to contain it on social media which was primarily being used as one-way method of informing the public, but in situations like this it’s hard to filter out the FUD as opposed to real issues requiring assistance. Cryptocurrency exchange Livecoin announced Saturday it will shut down after a claimed attack on the platform last month. E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. I consent to my submitted data being collected and stored. Cryptobridge is a scam. Launchpool Launchpool LONDON, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Launchpool proudly announces the launch of its egalitarian crypto investing platform. Kind regards ★ For security … The startup CryptoBridge, which provides a channel for the “decentralized” exchange of cryptocurrency assets on the BitShares platform, announced its closure. Not Just MicroStrategy: The Story of a Small Pizza Business that Bought Bitcoin Worth $200K, Is March a good month for buying VeChain (VET).
Leading exchanges tend to focus on listing new coins and tokens that bring with them fresh hype and new custom; while older assets with depleting volumes are usually delisted. "Terms and conditions" ★ Only for Accounts that already have at least 6 transactions. CCTrading limited announces the closure of its Crypto platform. Moonbeam, an Ethereum-compatible smart contract platform on Polkadot, today announced its integration with Ocean Protocol, a data exchange protocol for the Web3 data economy. © 2021 Bitcoinist.com. Follow Bitcoinist on social media to keep up-to-date with the latest news! Over time, and by monitoring the top traders’ strategies, eToro clients can build up their trading experience and confidence. A great improvement! pic.twitter.com/wn0hKgmMqx, — CryptoBridge (@CryptoBridgeEU) December 2, 2019.
The hackathon, which is scheduled to take place from Feb. 15 through March 1st, will be hosted in partnership with Sam Bankman-Fried of FTX’s Project Serum. act as middle men, connecting people willing to trade cryptocurrencies while holding their assets and private keys on company-owned wallets. That month, CryptoBridge’s website was visited about 320,000 times, with the majority of clicks coming from Russia and Bulgaria, data provided by Similar Web shows. This is higher than the market capitalization of Tesla. The Russia-based exchange said in a … Plus, its high throughput can help run the most complex contracts without compromising speed, performance, and security. Sign In . Sign In . However, a fractal found matching the... MicroStrategy shares skyrocketed alongside the parabolic Bitcoin rally as investors rushed to gain exposure to the trending cryptocurrency any way they could. By agreeing you accept the use of cookies in accordance with our cookie policy. This is the highest it has ever been, and it still threatens to go even higher. Although there are more than 1,200 assets to trade on eToro, which was founded in 2007, it is in the crypto space that it is particularly popular. https://client-crypto-bridge.com 520.6043877 BCO will be distributed in your account. All Rights Reserved. The company said it intentionally avoided holding an initial coin offering due to the regulatory difficulties it would have posed in the United States. From the growth of UniSwap... Today has been a monumental day for Cardano. Cascades Announces Closure of the Brown Sheet Plant Facility as Part of the Corporation's Planned Optimization of its Ontario Containerboard Platform Read full article May 26, 2020, 12:30 PM on. Existing user? 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Risks due to organized pumps, as well as risk to the coins themselves. For updates and exclusive offers enter your email below. Sign In. Existing user? Caught within the recent crypto bull market, its token, ADA, hit a new all-time high price of $1.38 this evening. | Dec 02, 2019 | 05:29. The announcement of CryptoBridge was startling, especially after the recent admission from IDAX that its CEO had absconded with the private keys. "Terms and conditions" ★ Only for Accounts that already have at least 6 transactions. Crypto Platform Coinbase Secures $300 Million in Series E Funding Round Additionally, there were other reasons according to the spokesperson: “As our gateway decentralization efforts and resources were insufficient to materialize a solution before January 1 2020 on account of greatly reduced trading volume and listings, and with much stricter AML regulation to take place which we explicitly didn't like, our decision was to stop operations.”. Indeed, DEXs continue to gain popularity in the crypto space. By. The closure of the Token Pocket exchange was announced over the weekend. According to experts, CryptoBridge’s departure marks a scenario in which other trading platforms are left in danger of facing similar symptoms. Could you be next big winner? The decentralized platform cited market conditions and increased regulations as driving factors for its closure. Namrata Shukla. As the phenomenon rose in popularity last year, many well-known cryptocurrency exchanges like Binance and Huobi decided to use their brand to launch their own decentralized marketplaces while applying the same compliance principles, which are increasingly important for keeping crypto trading juggernauts afloat against the backdrop of regulatory scrutiny. Remember me Not recommended on shared computers. Share your thoughts in the comments section below! After accepting my deposit, I purchased some cryptocurrencies. We've mentioned this before :DWith this new exchange KYC will only be required for withdraws over 2BTC. The exchange is also one of the few that supported BitShares (BTS). BitStarz Player Lands $2,459,124 Record Win! Updated news about bitcoin and all cryptocurrencies. Time flies. DEXs are cryptocurrency exchanges that allow users to retain ownership of their funds and private keys. Here’s the next target for buyers, NFT special! Similarly, Kelman told Cointelegraph that he “wouldn’t be surprised if we see similar news given the difficulty of successfully going all the way from the idea of a DEX into the DEX ‘regulatory twilight zone’ without getting caught in the headlights of anxious regulators.” He did, however, say that a “properly implemented DEX” still has a lot of potential to dominate crypto markets. Moreover, users report having problems with withdrawing procedures. Notably, the company claims that it “has no plans to introduce KYC for trading or cryptocurrency transactions.”. Our Team realizes that people are confused. Slated for launch on 15 th March, FreeBitco.in has already opened the sale of FUN tokens on its website. Trading Bitcoin options is less risky than futures but mind the premium! Crypto World; CryptoTalk.Org Make posts and earn bitcoins! “I did not comply with that request,” the trader told Cointelegraph, adding: “I then contacted CB support asking for help and expressing my frustration that so much of my personal information was being requested. Elrond is in the process of launching the DeFi 2.0 module, which will connect major global DeFi marketplaces. Users will be able to withdraw funds from the exchange until Dec. 15 — the last day of operation. ★ For security system … CryptoBridge provides users with regular updates about the development of the platform via their blog. And to make trading even more straightforward eToro has two pioneering tools – CopyTrader and CopyFund – that are game-changers for crypto investors of all levels. u/KeepitRaul then went on to say that the manner in which CryptoBridge has “left everyone in the lurch” made him think the entity is “something close to an exit scam,” but clarified: “Maybe a ‘hard closure’ would be a better term. "Terms and conditions" ★ Only for Accounts that already have at least 6 transactions. Cal Evans, founder of compliance and strategy firm Gresham International, surmised: “The closure of CryptoBridge is a sign that the new EU regulations are having an impact. Make posts and earn bitcoins! London, UNITED KINGDOM, March 8th, 2021 – BeInCrypto, one of the world’s largest and fastest-growing crypto news and education platforms, is delighted to announce a new partnership with the Blockchain and Innovation Society at the University of York (York Block), one of Yorkshire’s leading blockchain groups for students. Source: Pixabay. We put in a lot of hard work and did everything in our power to make the outcome different, but market conditions, increasing regulation, inability to fund further development and maintain operations forced us to make a difficult decision. Forgot your password? The statement reads: “Please note that user verification is required by EU law for all withdrawals. eToro will stake $1.21 million... Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming As a CryptoBridge spokesperson confirmed to Cointelegraph, the exchange is headquartered in Copenhagen, so once AMLD5 began including wallet custodians into its scope of regulation, it was forced to terminate operations. LONDON, Feb. 02, 2021 (GLOBE NEWSWIRE) -- Launchpool proudly announces the launch of its egalitarian crypto investing platform. American Express Co.’s venture arm has invested in the FalconX cryptocurrency trading platform, another sign that large financial services providers are tiptoeing into the digital-asset sphere. DEXs are cryptocurrency exchanges that allow users to retain ownership of their funds and private keys. According to the trader, enacting Know Your Customer and Anti-Money Laundering procedures “was not an oversight but clearly intentional on Cryptobridge’s part.” After u/Apollohasgas provided CryptoBridge with their personal information including full name and residential address as well as scans of their driver’s license and passport, the platform’s administration requested a copy of u/Apollohasgas’ latest tax return. The first, CopyTrader, allows users to match top traders automatically, and is perfect for those users who are unsure about what cryptos to invest in. A properly organized DEX, Kelman continued, “is not a corporate entity, a foundation, or even a group of people,” but a “computer code.” He elaborated: “There are secondarily liable parties, like the web hosts, and perhaps more directly liable parties, like the creators of the DEX or the inventors and profiteers of some kind of DEX-underlying asset, but at some point, a DEX can enter into a sort-of ‘regulatory twilight zone’ where it is not clear whom to hold responsible for regulatory non-compliance. Global investment platform eToro has launched a first-of-its-kind sponsorship deal with reigning double Formula E champions, DS TECHEETAH. Sign In . Veil, the crypto-focused prediction market and derivatives platform, is closing its doors. Forgot your password? BlockFi Announces Global Expansion of Its Crypto-Backed Loan Services; Funds SAFU: Changelly Recovers 1 Million XRP ($460,000) For Bithumb; Telefónica and Rivetz Add Civic’s Identity Verification for Mobile Users; Bitcoin (BTC) Price Analysis: Time to Buy on Dips Again? Subsequently, when I tried to transfer my funds out of CB, I was only then informed that I must comply with their new KYC before any funds would be relinquished.”. Crypto-bridge announces the closure of its platform Tech Gupta replied to Loly 's topic in Crypto World It Is Very Sad News Because This Exchange Really Help People To Convert Their Currency.This Is Not A Happy News For Traders As They Need Exchanges So Much. Specifically, they provide peer-to-peer services that allow transactions between two interested parties directly on the blockchain. https://wallet.crypto-bridge.xyz/#claim_bonus 58852.4094 RVN will be distributed in your account. Beeple’s millions, Banksy profits, problems for Kings of Leon: Hodler’s Digest, March 7–13, Zilliqa (ZIL) price is now up 600% since December, 6 Questions for Harumi Urata-Thompson of Celsius, Sam Bankman-Fried’s FTX to purchase Miami Heat arena naming rights. The motto at eToro is “Cryptos Needn’t Be Cryptic” and the team are always trying to educate users about cryptocurrencies, through blogs, videos and other helpful resources. but for me digital money will be accepted by the public and government. Meanwhile, Waves has relaunched by shutting down Waves.DEX and moving all activities to Waves.exchange, which is marketed as a “hybrid” platform. Blockchain interoperability in the decentralized finance (DeFi) space is becoming an increasingly important topic, which […] Sign In. The company cited market conditions, increasingly strict regulations and lack of funds as reasons for its decision to close and not pursue further development. The closing of CryptoBridge arrives after smaller coins lost almost all activity, no longer sparking even speculative trading. Related: Can Crypto Exchanges Ever Be Truly Decentralized? It also removed the anonymity from DEX exchanges which, in essence, kills their business model.”. At this time, registered users of the platform can purchase FUN with the BTC balance available in their FreeBitco.in accounts. February 19, 2021 . I have come to learn that many in the crypto community are aware of this.”. We will be opening a new and improved exchange! After the hack against Cryptopia, and the closing of Nova Exchange, there are now fewer markets with a wider selection of meme-based coins, and other unpopular assets. Existing user? Solana has announced an upcoming DeFi hackathon offering $200,000 in seed funding from the Solana Foundation. The new exchange is allegedly non-custodial, meaning that user funds are not held on company-owned wallets — just like with most DEXs. The decision to precipitously delete all social media channels resulted in noticeable distress among users while also spawning a number of impersonators on Twitter. Then, on Dec. 2, the DEX announced that all of the firm’s services and servers will be terminated within two weeks. Dash, has earned the reputation of being one of the longest surviving crypto assets in the market. Forgot your password? 3 weeks ago. “Though we are not from the US we would still like to stay legal under most jurisdictions and a public mineable cryptocurrency is exempt from such regulation,” the CryptoBridge team wrote. Subir replied to SuperCrypto's topic in Crypto World The industry has grown and now major corporations are getting more involved in the space. These are as follows: Bitcoin; Bitcoin Cash; Ethereum; Ethereum Classic; Dash; Ripple; Litecoin; Stellar; NEO; and EOS. By CCTrader - November 14, 2019 | comment/s CCTrading limited a subsidiary of Calamatta Cuschieri Group plc that facilitated the buying and selling of virtual assets v ia its online platform will be halting its services by the end of the year the Company has announced. The exchange will operate its servers until December 15, with no chance of withdrawals after that time. We highly recommend that you start the process as early as possible as verification can take a few days.”. While the majority of cryptocurrency traders still have an easier time trusting a third party with their private keys, DEXs offer some unique benefits over centralized exchanges, namely security, since they rely on smart contracts instead of servers. Another important advantage is anonymity and lighter Know Your Customer requirements — at least, that was the case until recently, as CryptoBridge mentioned strict regulations as part of the reason for its closure. Earlier this week, decentralized cryptocurrency exchange CryptoBridge abruptly announced that it was shutting shop, leaving just two weeks for its customers to retrieve their funds.