Major Crypto Exchange in Korea Shuts Down: 2018 Was a Nightmare for most

While not numerous key crypto exchanges have closed their operations within the previous year, most exchanges – with all the exception of some platforms regarded as to possess genuine daily volumes by Bitwise Asset Management – have struggled to preserve a stable inflow of income.

The bear market was particularly hard for tiny exchanges that happen to be identified to strategically inflate their volumes to appeal to users on major marketplace data platforms like CoinMarketCap.

Profit margins sharply dropped because of a general drop in everyday volumes for smaller sized exchanges, for instance, Korbit in South Korea, generating a tricky atmosphere to survive in.

As outlined by a report from the Block, Binance generated a quarterly profit of about $71 million from January to March 2019, nearing the annual operating profit of Upbit, South Korea’s biggest crypto exchange.

Last month, the company’s research revealed that at the least 95% of crypto crimes investigated by law enforcement involve BTC.

Chainalysis also recently expanded its real-time transaction monitoring tools to cover ten cryptocurrencies in response to demand from law enforcement agencies.

Bitcoin Will likely be ‘Alive and Nicely,’ Says Renowned Emerging Markets Investor Mark Mobius

Veteran frontier markets investor Mark Mobius has stated he believes cryptocurrencies will show resilience as a result of continuing demand for new forms of value transfer. Mobius produced his remarks for the duration of an interview with Bloomberg on Could 15.

Mobius is actually a seasoned and pioneer investor in creating nations and emerging economies, earning international recognition for his decades-long function at global investment firm Franklin Templeton. Final year, he retired to launch a brand new asset management boutique, Mobius Capital Partners.

Mobius nonetheless stopped brief of endorsing crypto investment in unequivocal terms, underscoring the dangers he perceives to be inherent to their decentralized structure: “Whether I’d invest in it can be one more query, because it has extraordinary volatility and in the end with the day, you cannot trace 1 individual or group or organization that would maintain track of what exactly is going on.”

“You have to be incredibly careful,” he noted, underscoring that he himself holds no investments in bitcoin.

Cointelegraph has previously reported on Mobius’ response towards the hardline anti-crypto stance adopted by China – notably the country’s September 2017 ban on crypto exchanges and initial coin offerings – which he viewed as at the time would probably draw risk-shy investors back to gold.

Huobi Launches OTC Desk for Institutional Investors

Jeff Adams, Senior Sales Manager for Huobi Global, stated that the launch of Huobi OTC Desk was driven by demand from investors for substantial volume transactions, claiming that the business has noticed an “unfilled need” for such solutions.

According to the announcement, Huobi OTC Desk supports big cryptocurrencies like bitcoin (BTC) and ether (ETH), too as fiat currencies like the Usa dollar (USD), euro (EUR), and British pound sterling (GBP).

Earlier this year, Huobi reported that its P2P OTC desk has become one particular from the most traded OTC platforms worldwide. The desk delivers OTC transactions in bitcoin, ether, eos (EOS), big stablecoin tether (USDT), Huobi Token (HT), at the same time as ripple (XRP), which was listed in March 2019.

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