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Search results for Dec. 22

Crypto

CoinEx to close after 9 years amid tougher rules and weak trading

Cryptocurrency exchange CoinEx will shut down after nine years, halting new sign-ups and planning to end most services on Sept. 29. Withdrawals will be supported until Dec. 22, and assets left on the platform after Sept. 29 can be converted to tether. Unclaimed tether will be transferred to an independent custodian that charges a 5 percent monthly fee. Founder and CEO Yang Haipo cited market weakness, tighter regulation and rising compliance costs.

Crypto

Bitwise CIO says token buybacks and burns could drive crypto values sharply higher

A structure that directly links protocol revenue to token buybacks and burns could at least double cryptocurrency values, Bitwise CIO Matt Hougan said. He said the non-bitcoin market is being reshaped around network revenue, but investors have not fully priced in the shift. Hougan cited Hyperliquid, Uniswap and Aave as examples and said the model could spread across DeFi applications and layer-1 networks in 12 to 24 months.

Crypto

Former SEC chair Jay Clayton, who approved Ripple lawsuit, takes office as U.S. director of national intelligence

Jay Clayton (제이 클레이턴), former chairman of the U.S. Securities and Exchange Commission, has been formally sworn in as U.S. director of national intelligence, after winning Senate confirmation by 51 to 47. His appointment draws attention in the cryptocurrency industry because the SEC filed a lawsuit against Ripple Labs and its executives on his last day in office in December 2020. After leaving the SEC, Clayton joined advisory boards tied to digital asset investment and crypto infrastructure.