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☆ CNBC Daily Open: Singing the OPEC blues
▼ + stars: | 2023-11-24 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Oil and gas companies pulled ahead with a 1.4% gain despite the continued fall in oil prices after OPEC delayed its policy-setting meeting. The targeted projects include the HTX digital currency exchange, formerly known as Huobi, from which hackers drained around $30 million worth of cryptocurrencies, the company said in a statement on Wednesday. CNBC Pro discusses ways to bet against this stock.

Persons: Justin Sun, HTX, Claudia Buch Organizations: CNBC, U.S, Fort Worth International Airport helped American Airlines Locations: Dallas, Europe

☆ CNBC Daily Open: Singing the OPEC blues away
▼ + stars: | 2023-11-24 | by ( Clement Tan | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Tighter regulationsSingapore will introduce tighter rules for cryptocurrency service providers. [PRO] Goldman touts its global growth basketEuropean growth stocks haven't been doing as well as their U.S. peers this year. Growth stocks in the region have underperformed value stocks by 13% since the start of the rate-hiking cycle in 2022, according to Goldman Sachs in a Nov. 20 report.

Persons: Crypto, Justin Sun, HTX, Goldman, Goldman Sachs Organizations: CNBC, Japan's Nikkei, CSI, Monetary Authority of, United Nations, Food Locations: Asia, China, U.S, Singapore, cryptocurrencies, Monetary Authority of Singapore, Gaza, Israel

☆ $115 million stolen from two crypto firms linked to Justin Sun after hack
▼ + stars: | 2023-11-23 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +1 min

The logo of HTX, formerly known as Huobi, is seen on the screen of a mobile device in this photo. Two cryptocurrency platforms linked to high-profile digital entrepreneur Justin Sun were hacked in two exploits that may have stolen an estimated $115 million to date. Sun, who is an investor in HTX and linked to the Heco Chain, confirmed the events. Market analytics firm CryptoQuant assesses that a total of $85.4 million worth of cryptocurrency has been stolen from the Heco Chain. CNBC has reached out to HTX for comment on Heco Chain losses.

Persons: Justin Sun, HTX, Sun, HBTC Organizations: CNBC Locations: HTX, CoinGecko

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 3 (Reuters) - Former FTX chief operating officer Constance Wang agreed to serve as a witness for U.S. prosecutors in their case against the crypto exchange's founder and former CEO Sam Bankman-Fried, according to Michael Lewis' new book on FTX's collapse. "Going Infinite: The Rise and Fall of a New Tycoon" hit the shelves as Bankman-Fried's criminal trial began in Manhattan on Tuesday. While the U.S. prosecutors have said they plan to call a handful of Bankman-Fried's former inner circle to testify, Wang has not been named among them. Wang joined FTX in 2019 from rival crypto exchange Huobi as its eighth employee, and often accompanied Bankman-Fried to meetings in which Mandarin was spoken, Lewis said. Prosecutors have said they plan to call former Alameda chief executive Caroline Ellison, former FTX technology chief Gary Wang, and former engineering chief Nishad Singh to testify.

Persons: Sam Bankman, Andrew Kelly, Constance Wang, Michael Lewis, FTX, Fried, Wang, Lewis, Caroline Ellison, Gary Wang, Nishad Singh, Hannah Lang, Luc Cohen, Michelle Price, Matthew Lewis Organizations: FTX, Manhattan, REUTERS, Alameda Research, U.S, Prosecutors, Alameda, Thomson Locations: New York City, U.S, Manhattan, Bahamas, Caribbean, Washington, New York

And, in that same earnings call earlier this year, Novogratz said Galaxy hired some traders based in Hong Kong. Just this week, Societe General 's crypto arm received approval by France's financial regulator to offer crypto services, including crypto assets. The next month, Hong Kong implemented a new licensing regime so crypto exchanges can serve retail customers. Hong Kong, in particular, has tried to position itself as an international hub for crypto. Galaxy Chief Investment Officer Chris Ferraro echoed that sentiment in a recent "Crypto World" interview.

Persons: –, Mike Novogratz, Brian Armstrong, Novogratz, Cantor Fitzgerald's Elliot Han, Dean Sovolos, Lily King, Cobo, Owen Lau, Chris Ferraro, Kraken –, Binance, Han, we're Organizations: BlackRock, SEC, Washington, Galaxy, United, Gemini, Payment, Societe, European Union, Crypto, Assets Regulatory Authority, Financial, Oppenheimer, U.S, Coinbase, Huobi, BTC Locations: U.S, Europe, Hong Kong, Abu Dhabi, Dubai, Bermuda, United Arab Emirates, Asia, Gurgaon, India, Singapore, United States, East, VARA, B2C2, Silicon, London, Berlin, China

☆ Hong Kong woos mainland China crypto firms in push to bolster finance hub status
▼ + stars: | 2023-04-13 | by ( Josh Ye | ) www.reuters.com time to read: +3 min

[1/5] A visitor looks at screens showing advertisements of NFTs and virtual lands, at Hong Kong Web3 Festival, in Hong Kong, China April 13, 2023. According to Xiao, many in the crypto industry thought Hong Kong would inevitably adopt the same regulations as mainland China. But he said that the government is now trying to emphasise Hong Kong practices different laws from mainland China under the "One Country, Two Systems" framework. These firms, which have exited countries like Canada and Britain, are among the sponsors of the glitziest Hong Kong parties this week. Reporting by Josh Ye in Hong Kong; Editing by Brenda Goh and Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.

☆ Huobi’s New Boss Shakes Up Crypto Firm With China Plan
▼ + stars: | 2023-03-27 | by ( Weilun Soon | Elaine Yu | ) www.wsj.com time to read: 1 min

Cryptocurrency entrepreneur Justin Sun is attempting to revive the fortunes of digital-assets exchange Huobi by shifting its focus back to China—with the aid of a digital citizenship program from a tiny Caribbean island. Mr. Sun is pushing the Beijing-founded company to win customers in Hong Kong and China, despite a ban on crypto trading in the mainland that forced Huobi to stop accepting business from there.

☆ We'll actively engage with Hong Kong government for better regulation: Crypto exchange firm
▼ + stars: | 2023-03-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe'll actively engage with Hong Kong government for better regulation: Crypto exchange firmJustin Sun of Huobi says it is "100% confident" that the company will be granted Hong Kong's virtual asset service provider license.

The checking is not done by individuals, but by computers in the blockchain network, often via third-party staking services. Nearly all of the major crypto exchanges offer staking services to their customers for a variety of tokens, including Coinbase (COIN.O), Binance, Crypto.com, Gemini, Huobi and OKX. The SEC has said most staking providers fail to provide customers proper disclosures about how their cryptocurrency will be used and should register their staking services with the agency. In its settlement with the SEC on Feb. 9, Kraken neither admitted nor denied the SEC's claim that its staking service should have been registered. Kraken said it would continue to offer staking to customers based outside of the United States.

On a larger exchange like Binance or Coinbase , for example, many customers opt to let the platform custody their crypto tokens. In the four years that Bitzlato operated, only $52 million moved directly from the exchange to Binance, the same dataset shows. CNBC reviewed transaction data for the ten largest recipients of Bitzlato outflows, which collected over $45 million in Bitzlato-originated funds. Those wallets also received millions more in funds from other exchanges, including Huobi, FTX, Poloniex, Nexo, and WhiteBIT, a Ukrainian exchange. We also asked whether Binance was aware that Bitzlato was allegedly used to launder money and, if so, why funds from Bitzlato were custodied on its platform.

☆ Coinbase says it will halt operations in Japan
▼ + stars: | 2023-01-18 | by ( ) edition.cnn.com time to read: +1 min

Cryptocurrency exchange Coinbase Global Inc on Wednesday said it will halt operations in Japan due to volatile market conditions. All Coinbase Japan customers will have until Feb. 16 to withdraw their fiat and crypto holdings, the company said in a blog post. Coinbase’s decision to exit comes only a few weeks after rival exchange Kraken said it, too, would cease its operations in Japan this month. Several firms have suffered from waning investor appetite for crypto after major exchange FTX blew up in September. The crypto sector’s woes have continued this year, marked by plunging deposits, layoffs and multiple legal hurdles.

☆ Crypto exchange Coinbase says it will halt Japan operations
▼ + stars: | 2023-01-18 | by ( ) www.reuters.com time to read: +1 min

Jan 18 (Reuters) - Cryptocurrency exchange Coinbase Global Inc (COIN.O) on Wednesday said it will halt operations in Japan due to volatile market conditions. All Coinbase Japan customers will have until Feb. 16 to withdraw their fiat and crypto holdings, the company said in a blog post. Coinbase's decision to exit comes only a few weeks after rival exchange Kraken said it, too, would cease its operations in Japan this month. Several firms have suffered from waning investor appetite for crypto after major exchange FTX blew up in September. The crypto sector's woes have continued this year, marked by plunging deposits, layoffs and multiple legal hurdles.

☆ Crypto.com to cut 20% jobs as industry rout deepens after FTX collapse
▼ + stars: | 2023-01-13 | by ( ) www.reuters.com time to read: +1 min

Jan 13 (Reuters) - Crypto.com said on Friday it would be reducing about 20% of its workforce, as cryptocurrency exchanges face industry-wide challenges brought on by the collapse of FTX last year. A source told Reuters last week that Genesis, too, had cut jobs, equating to 30% of its workforce. Th recent FTX collapse "significantly damaged trust in the industry," Crypto.com Chief Executive Officer Kris Marszalek said in a statement. The collapse of Sam Bankman-Fried's FTX was the biggest in string of big crypto-related failures in 2022. It sparked a cryptocurrency rout and has left an estimated 1 million creditors facing losses of billions of dollars.

LONDON, Jan 13 (Reuters) - Chinese crypto entrepreneur Justin Sun is willing to spend $1 billion of his own funds on buying assets belonging to Digital Currency Group (DCG), the parent company of embattled crypto lender Genesis, Sun told Reuters. Genesis' owner, DCG, is also the parent company of several high-profile crypto firms, including crypto asset manager Grayscale, and its website lists more than 160 companies in its venture capital portfolio. DCG is considering offloading parts of that portfolio to raise money, the Financial Times reported on Thursday. Sun told Reuters in an interview he would be willing to spend up to $1 billion to buy some of DCG's assets, "depending on their evaluation of the situation". When major crypto exchange FTX faced a rush of investor withdrawals in November, Binance said it had signed a no-nbinding agreement to buy FTX's non-U.S. unit.

☆ Crypto exchange Binance plans 15%-30% hiring spree in 2023 even as rivals slash jobs
▼ + stars: | 2023-01-11 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Zhao said Binance, the world's largest cryptocurrency exchange, said the company increased head count in 2022 from 3,000 people to "almost" 8,000. In 2023, Binance plans to increase the number of staff by between 15% and 30%, Zhao said at the Crypto Finance Conference in St. Moritz, Switzerland. Zhao said Binance needs to get the company "well-organized" ahead of the next crypto bull run and admitted the exchange is "not super efficient." The industry was plagued last year by collapses of major projects, liquidity issues, bankruptcies and the high-profile failure of crypto exchange FTX. Binance had a big role to play in FTX's collapse.

SINGAPORE, Jan 6 (Reuters) - Crypto exchange Huobi plans to lay off about 20% of its staff, the company told Reuters on Friday. With the current state of the bear market, a very lean team will be maintained going forward," Huobi said in a statement, responding to queries from Reuters. Sun, a Chinese cryptocurrency entrepreneur who is also a member of Huobi's global advisory board, said in an internal memo to Huobi staff that the company has been like "a fire in the (crypto) winter" despite the deteriorating macro environment. Huobi was ranked the eighth largest crypto exchange in terms of volume as of last November, according to analytics website CoinGecko. It was not immediately clear how many staff Huobi currently has.

☆ Crypto exchange Huobi to lay off 20% of staff - Justin Sun
▼ + stars: | 2023-01-06 | by ( Xinghui Kok | ) www.reuters.com time to read: +1 min

SINGAPORE, Jan 6 (Reuters) - Crypto exchange Huobi plans to lay off about 20% of its staff, Tron founder Justin Sun told Reuters. In an internal memo to Huobi staff , Sun said Huobi has been like "a fire in the (crypto) winter" despite the deteriorating macro environment. Cryptocurrency firm Genesis just cut 30% of its workforce in a second round of layoffs in less than six months. It was not immediately clear how many staff Huobi currently has. As per CoinMarketCap, the Huobi token peaked at $9.40 in late October, with a 24-hour volume then of $52.5 million.

☆ Crypto exchange Huobi to reportedly lay off 20% of staff as industry reels from FTX collapse
▼ + stars: | 2023-01-06 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Digital currency exchange Huobi on Friday reportedly said it plans to reduce its global headcount by about 20%, in the latest round of layoffs to hit the beleaguered cryptocurrency industry. A company spokesperson told news agency Reuters that Huobi had a "planned layoff ratio" of about 20%. Bloomberg and the Financial Times also reported on the layoff plans Friday. "With the current state of the bear market, a very lean team will be maintained going forward," the Huobi spokesperson told Reuters. Huobi had about 1,600 employees worldwide as of October, according to a Financial Times report.

☆ Binance grabbed 66% of crypto trading volumes on centralized exchanges in the 4th quarter of 2022 as the industry consolidated following the fall of FTX
▼ + stars: | 2023-01-04 | by ( Morgan Chittum | ) www.businessinsider.com time to read: +3 min

Binance captured 66.7% of all trading volume on centralized crypto exchanges in the last quarter of 2022. Trading volumes on centralized exchanges declined 46.2% last year amid a harsh macro environment and crypto bear market. Even as spot trading volumes on Binance fell 45.3% to $5.29 trillion, the rise in the exchange's market dominance continued throughout 2022. Amid a lengthy crypto bear market, trading volumes on centralized exchanges declined 46.2% in 2022. Volumes across centralized exchanges, or CEXs, stayed well above decentralized exchanges, or DEXs, according to the report.

The article was one of a series of reports this year by the news agency on Binance's financial compliance and relationship with regulators across the world. Reuters also asked representatives of the local Binance units and affiliates about their relationship with the main Binance exchange. In Italy, Binance's public corporate filings detail just the unit's capital base and its ownership by a separate Binance company in Ireland. The Italian company, Binance Italy S.R.L., has its listed address in a block of shops and apartments in the southern city of Lecce. Just two of the Binance units analysed by Reuters offer more substantial details in their filings.

☆ Crypto entrepreneur Sun looking at FTX ventures' portfolio companies
▼ + stars: | 2022-11-30 | by ( ) www.reuters.com time to read: +1 min

LONDON, Nov 30 (Reuters) - FTX's venture capital arm has assets that could be worth investing in, but since the failed crypto exchange has entered Chapter 11 bankruptcy proceedings the process could take time, cryptocurrency entrepreneur Justin Sun said on Wednesday. "FTX Ventures still has lots of portfolio (companies) and we are going through them one by one, but right now it is already in the Chapter 11 process so it might take a longer time to finish the process," Sun told a Reuters Next conference. Sun founded the crypto platform Tron and is member of cryptoexchange Huobi's global advisory board. He did not specify which organisation specifically was looking at the assets in the interview. To view the Reuters conference live, please click here; https://www.reuters.com/world/reuters-next/reuters-next-global-virtual-broadcast-2022-11-28/Reporting by Elizabeth Howcroft, writing by Alun John, editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

A representative for FTX did not immediately respond to requests for comment on the deal or the SEC investigation. FTX and Binance did not disclose the terms of their agreement, and markets face fresh uncertainty over whether it will proceed. REUTERS/Dado Ruvic/Illustration 1 2Prior to the Binance proposed deal, Bankman-Fried approached cryptocurrency exchange OKX on Monday morning about a deal, but the exchange declined to move forward. "It has been a truly a devastating year for the industry," said Ryan Wong, a senior researcher at crypto exchange Huobi. "This could be a major source of risk to crypto markets," Lai wrote.

☆ Bitcoin mining difficulty hits record high, and Huobi founder sells entire stake: CNBC Crypto World
▼ + stars: | 2022-10-10 | by ( Jordan Smith | Mai Tejapaibul | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin mining difficulty hits record high, and Huobi founder sells entire stake: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Arjun Sethi of Tribe Capital discusses investing in early-stage crypto projects and the outlook for more crypto businesses going public.

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