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Home > News
Published: 19/03/2024
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Author: Leexim
Bitcoin Sends Shockwaves as It Drops to $8900 on BitMEX Exchange
An unidentified entity unloaded over 400 Bitcoins in a short period on the spot market BitMEX BTC-USDT, prompting BitMEX to initiate an internal investigation.
Azcnews (1)
The cryptocurrency derivatives exchange BitMEX has initiated an investigation into “unusual behavior” after receiving reports from users about a temporary decline in the price of Bitcoin. Around 1 a.m. UTC, users on BitMEX reported irregularities in the BTC-Tether (USDT) spot market, resulting in a temporary drop in the price of Bitcoin to around $8,900.
It is reported that an unidentified entity sold over 400 Bitcoins within a short period of time. BitMEX has confirmed this and has begun an internal investigation into the matter. BitMEX also stated that the derivatives market and prices of XBT futures contracts were not affected by this volatility.
According to cryptocurrency researcher Syq, an unidentified entity sold approximately over 400 BTC in batches ranging from 10 to 50 BTC within a two-hour period. The researcher also revealed that BitMEX had disabled the withdrawal feature for some accounts.
Regarding the blocked accounts, BitMEX clarified: “We have NOT disabled withdrawals for all users but only for some accounts under investigation.” BitMEX also confirmed that their trading platform is operating normally and all funds are securely guaranteed. Former CEO of BitMEX, Arthur Hayes, previously expressed the view that Bitcoin Exchange Traded Funds (ETFs) could “completely destroy” Bitcoin if they become too successful.
Related: Whale Bitcoin Accumulation Frenzy Signals Imminent Price Recovery
According to Hayes, ETF issuers holding all Bitcoin could negatively impact the transaction volume on the Bitcoin network and diminish the incentive for mining companies to continue verifying transactions. Hayes said: “The ultimate result would be miners shutting down as they no longer have the capability to afford the energy required to run them. Without miners, the network will collapse and Bitcoin will disappear.”
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Azcnews Breaking
News | Altcoin | Editor Choice 19/03/2024
Figure Markets Successfully Raises $60 Million
Figure Markets has successfully raised $60 million in its Series A funding round from prominent investment funds such as Jump Crypto, Pantera Capital, and Lightspeed Faction.
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Home > News
Published: 19/03/2024
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Author: Kane
Figure Markets Successfully Raises $60 Million
Figure Markets has successfully raised $60 million in its Series A funding round from prominent investment funds such as Jump Crypto, Pantera Capital, and Lightspeed Faction.
Azcnews Breaking
Figure Technologies has announced the launch of Figure Markets, aiming to build a “market for everything” – a platform for investors to trade most types of assets, including Crypto.
According to the latest announcement, Figure Markets has successfully raised $60 million in Series A funding. This round was led by Jump Crypto, Pantera Capital, and Lightspeed Faction, with participation from Distributed Global, Ribbit Capital, CMT Digital, and other partners. Dan Morehead, Founder and Managing Partner of Pantera Capital, will join the board of directors of Figure Markets.
How is Figure Markets designed?
Interface Figure Markets
Figure Markets will introduce a new decentralized cryptocurrency exchange and a secure marketplace based on blockchain integrating Multi-Party Computation (MPC) technology. The use of MPC technology in wallets will help eliminate risks inherent in many centralized exchanges.
With Figure Markets’ MPC wallets, private keys will be distributed across a decentralized network, requiring approval from multiple parties for every transaction. This method not only allows for the safe custody of decentralized assets but also minimizes the risk of losing private keys.
Related: Successful Fundraising of $69 Million USD by Berachain
Figure Markets will operate on the Provenance Blockchain – a blockchain specially designed for financial transactions. Over $30 billion in real-world assets have been recorded on the Provenance Blockchain since its launch in 2018. Figure Markets will operate independently from Figure Lending.
Figure Markets also stated that they are working to create a “registered security alternative” for stablecoins within their system.
Stablecoins are a type of cryptocurrency that maintains a 1:1 value ratio with a traditional currency such as the US dollar. Stablecoins like USD Coin and Tether maintain a stable value of $1 per token, making them equivalent to digital cash and useful for trading with other cryptocurrencies on exchanges due to their extremely low volatility.
Dan Morehead, Founder and Managing Partner of Pantera Capital, said:
I believe Figure Markets will be a disruptive force in the digital asset space. The company’s innovative use of MPC technology addresses critical pain points in the current market structure, contributing to creating a more efficient and secure future for digital assets.
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#Figure Markets
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LATEST
Azcnews (1)
News | Bitcoin | Editor Choice 19/03/2024
Bitcoin Sends Shockwaves as It Drops to $8900 on BitMEX Exchange
An unidentified entity unloaded over 400 Bitcoins in a short period on the spot market BitMEX BTC-USDT, prompting BitMEX to initiate an internal investigation.
Azcnews (4)
News | Altcoin | Editor Choice 19/03/2024
Slerf Apologizes to Users After Accidentally Burning $10 Million
The Solana-based memecoin project, Slerf, left investors shocked after a mistake resulted in the deletion of all liquidity provider (LP) and airdrop tokens.
Azcnews (2)
News | Blockchain | Editor Choice | Policy & Regulations 19/03/2024
Binance Enhances Customer Screening in the United States
According to Bloomberg, Binance has urged leading brokers to enhance customer screening to ensure they do not serve customers in the United States.
Azcnews Breaking
News | Altcoin | Editor Choice 19/03/2024
Investor Loses $147,000 Playing Memecoins on Solana
An investor fell prey to FOMO and invested in memecoins on the Solana network, resulting in a loss of approximately $147,000 USD in just three days.
Azcnews (1)
News | Bitcoin | Editor Choice 19/03/2024
Whale Bitcoin Accumulation Frenzy Signals Imminent Price Recovery
Despite Bitcoin being in a period of correction, large whale wallets continue to accumulate steadily, indicating strong bullish sentiment.
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