Binance Adds Bitcoin Ordinals to NFT Marketplace

Bitcoin ordinals, also known as Bitcoin NFTs, are gaining popularity in the Web3 space as more marketplaces adopt and offer digital assets. Binance, a leading cryptocurrency exchange, has recently announced that it will soon support Bitcoin ordinals on its NFT marketplace, expanding its multichain NFT ecosystem to include the Bitcoin network. This move follows other decentralized networks that the Binance NFT market has already integrated, including BNB Chain, Ethereum, and Polygon.

Mayur Kamat, the head of product at Binance, commented on the new offerings in the marketplace and Bitcoin’s crypto legacy, stating, “Bitcoin is the OG of crypto.” With this update, Binance users will be able to purchase and trade Bitcoin ordinals from their existing accounts. The announcement also states that the update will include royalty support and additional revenue-generating opportunities for those creating Bitcoin ordinals.

Prior to Binance’s announcement, OKX, another cryptocurrency exchange, announced in late April that it would bring Bitcoin ordinals to its marketplace and wallet ecosystem. Initially, OKX users could view and store ordinals using their accounts, with the option to mint ordinals being hinted at in the future, according to Haider Rafique, the chief marketing officer at OKX.

Bitcoin NFTs are available on marketplaces such as Magic Eden, which integrated the feature back in March. Recent data shows that inscriptions of Bitcoin ordinals have been on the rise in recent months, reaching 58,179 inscriptions on April 2, up 83.5% from the previous month. As of May 1, the total number of Bitcoin ordinal inscriptions had skyrocketed to exceed 3 million.

However, Bitcoin ordinals remain a controversial topic within the crypto community. Some Bitcoin maximalists criticize them for deviating from Bitcoin’s original peer-to-peer ethos. Nonetheless, Bitcoin ordinals offer unique opportunities for creators and collectors to buy, sell, and trade digital assets on the blockchain.

The rise of Bitcoin ordinals also reflects the growing interest in NFTs and digital art. In March, the digital artist Beeple sold a digital artwork for a record-breaking $69 million at a Christie’s auction. The sale of this NFT sparked a frenzy in the NFT market, with artists, musicians, and other creatives exploring the potential of blockchain technology to authenticate and monetize their work.

In conclusion, Binance’s move to support Bitcoin ordinals is a significant step for the NFT market, expanding the availability of digital assets to include the Bitcoin network. With the rise of Bitcoin ordinals and NFTs, we can expect to see continued innovation and experimentation in the world of blockchain and digital art.


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Hong Kong to Release Cryptocurrency Exchange Licensing Guidelines

The Hong Kong Securities Futures Commission (SFC) is set to release guidelines for cryptocurrency exchange licensing in May, as it moves to support trading services to retail investors from June 1. According to Bloomberg, the plans were confirmed by the SFC’s CEO, Julia Leung, who revealed that over 150 interested parties had provided feedback during the consultation process on the licensing regime.

The upcoming guidelines will likely include regulatory requirements for Anti-Money Laundering (AML) and Know Your Client (KYC) measures, among other considerations. A February 20 report by the SFC also highlighted these factors as important for regulating virtual assets.

While most prospective Virtual Asset Service Provider (VASP) licensees are still awaiting confirmation, some trading platforms have already received licenses from the SFC. Among them are OSL and Hashkey Group, according to Reuters.

However, not all trading platforms have chosen to stay in Hong Kong amid its ambitions to become a major crypto hub. Bitget, which boasts $1.4 trillion in assets in reserve, announced on April 24 that it would cease offering services to its Hong Kong customers when the VASP regime takes effect on June 1.

Despite this setback, the release of the licensing guidelines is expected to bring further clarity and regulation to the Hong Kong crypto market, while also providing a framework for legitimate trading platforms to operate under. This could help to boost investor confidence in the sector and support the city’s wider efforts to establish itself as a leading hub for digital assets and blockchain technology.

Hong Kong has already made significant strides in this area, with its Securities and Futures Commission becoming one of the first regulators to issue guidance on digital asset fund managers in November 2018. The city has also played host to a number of high-profile crypto events in recent years, including the Token2049 conference, which attracts blockchain industry leaders from around the world.

Despite this progress, however, Hong Kong still faces stiff competition from other global crypto hubs, such as Singapore and Switzerland. By introducing clear licensing guidelines and regulatory requirements for crypto trading platforms, the SFC may be able to help Hong Kong strengthen its position in this increasingly competitive field.


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Bitget Pledges $10 Million for Ecosystem

A big cryptocurrency derivatives exchange known as Bitget just just made the news that it will be spending $10 million towards the development of an ecosystem that is known as An artificial intelligence agent network is the primary offering made available by, a startup that specializes in the provision of infrastructure for autonomous service providers. This network makes it possible for decentralized and autonomous agents to carry out a range of tasks, ranging from simple data processing to complex financial modeling. In addition, the smart wallet that is provided by includes automation and interaction with OpenAI’s ChatGPT API. This API was first introduced in January 2023 and has amassed a user base of one hundred million users in only a few short months after its debut.

The investment that Bitget has made in the AI infrastructure provider has two main goals: one is to contribute to the firm’s continued growth and the other is to encourage the extension of commercial partnerships that the company already has. Bitget cited the recent AI buzz that was generated by OpenAI’s ChatGPT as evidence that the technology has the potential to increase human productivity and creativity. As part of the partnership, Bitget will provide marketing consultancy and other services to in order to aid the firm in growing its clientele.

According to CoinGecko, Bitget is now the ninth largest cryptocurrency spot exchange in the world, with a daily transaction volume of $990 million in bitcoin. This information was obtained from Bitget. Bitget, a company that now serves over 8 million consumers, has its headquarters in the Seychelles. The company’s clientele is spread out throughout more than one hundred countries and territories. In April 2023, Bitget was awarded a regulatory license, which cleared the way for the firm to start providing its services to customers in Lithuania. In the previous month, the firm made an investment of $30 million in the multichain wallet provider BitKeep. As a result of this investment, the corporation became the dominant investor in the company.

As a direct consequence of Bitget’s investment, it is projected that would see increased levels of growth. The company is in the process of increasing the size of its infrastructure so that it can support autonomous services. As a result of Bitget’s financial support, is in a position to both expand the scope of its commercial relationships and continue the development of innovative products. These are the kinds of problems that can be solved with the help of artificial intelligence.


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Tribe Capital explores injecting capital into bankrupt FTX exchange

Tribe Capital, a San Francisco-based venture capital firm, is reportedly exploring the possibility of injecting new capital to revive the bankrupt cryptocurrency exchange, FTX. Bloomberg reported on April 18 that Tribe Capital is considering leading a $250 million fundraising campaign, with $100 million from itself and its limited partners. According to sources familiar with the matter, Tribe co-founder, Arjun Sethi, met with FTX’s Committee of Unsecured Creditors in January to discuss the informal proposal.

The venture capital firm’s proposal in January included an estimated 9 million customer accounts, FTX US, FTX Australia, FTX Japan, FTX EU, FTX International, and LedgerX. However, the proposal excluded a venture capital portfolio and crypto assets, among others. If the reboot plan is successful, the revived exchange would retain the name FTX.

On April 18, the Official Committee of Unsecured Creditors of FTX confirmed via Twitter that it was “working with the Debtors to evaluate all options to reboot or sell the FTX exchanges and create value for creditors.” However, the committee added that “there is no definitive timetable for a reboot or sale of the exchanges at this time.”

In January, the judge overseeing the FTX bankruptcy proceedings gave the troubled crypto exchange approval to sell some of its assets to help repay its creditors. According to a filing in Delaware Bankruptcy Court, Judge John Dorsey approved the sale of four key units of FTX – the derivatives platform LedgerX, stock-trading platform Embed, and the exchange’s regional arms, FTX Japan and FTX Europe.

Attorneys from Sullivan & Cromwell, representing FTX at a hearing in the United States Bankruptcy Court for the District of Delaware on April 12, stated that the exchange had recovered approximately $7.3 billion in liquid assets. This development offers hope for the future of the exchange, and it is possible that Tribe Capital’s proposed capital injection could be a critical step in FTX’s revival.

FTX was one of the fastest-growing cryptocurrency exchanges in the world, with a valuation of $18 billion in December 2021. The exchange was founded in 2019 by Sam Bankman-Fried, a former Wall Street quant trader, and Gary Wang, a software developer. The exchange’s meteoric rise was driven by its advanced trading infrastructure and innovative products, such as leveraged tokens and prediction markets.

However, in December 2021, the exchange suffered a massive blow when it was hit by a wave of liquidations caused by the collapse of its risk-management system. The incident resulted in the loss of over $4 billion in customer funds, triggering a chain of events that led to the exchange’s bankruptcy.

Tribe Capital’s potential involvement in FTX’s revival is significant given its previous investment in the exchange. The venture capital firm was part of a group of investors that participated in FTX’s $900 million funding round in July 2021. However, Tribe Capital was also an investor in Archegos Capital Management, the family office that triggered a $20 billion margin call in March 2021, resulting in significant losses for several banks. The firm’s involvement with Archegos led some to question its due diligence processes and risk management practices.


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Zipmex Requests Moratorium Extension in Singapore

Cryptocurrency exchange Zipmex has requested another extension to its moratorium on debt payments in Singapore due to liquidity issues. The firm has filed a request in Singapore’s courts to extend its existing moratorium period by two months. Zipmex plans to use the extra time to plan and reopen Z Wallet withdrawals.

Zipmex initially filed for a moratorium in July, which allowed the company to postpone payments due to its exposure to Celsius, a cryptocurrency lending platform. The exchange suspended withdrawals earlier that month, while CEO Marcus Lim did not deny reports that the firm was facing insolvency. Singapore’s courts granted Zipmex’s moratorium request, giving the company until December 2022 to come up with a restructuring plan.

However, the platform has continued to request extensions on the moratorium, with the most recent one likely pushing its deadlines to June. In an announcement on April 18, Zipmex said it was in negotiations with investors to “maximize returns for customers” following a delay in payments.

It’s unclear which investor Zipmex was referring to in its latest announcement. In March, venture capital firm V Ventures reportedly did not provide a payment of more than $1 million necessary for Zipmex to avoid liquidating certain operations and stop distributing payroll to employees.

Zipmex’s latest request for an extension highlights the challenges faced by cryptocurrency exchanges in a volatile market. The crypto industry has seen significant fluctuations in value over the past year, with Bitcoin alone experiencing a dramatic rise and fall in value. This has led to liquidity issues for some exchanges, as investors are unable to withdraw funds and pay debts.

The company’s struggles also reflect the broader regulatory challenges facing cryptocurrency exchanges. Many countries are grappling with how to regulate the industry, with some governments taking a more restrictive approach. In Singapore, authorities have implemented strict rules for cryptocurrency exchanges, including requiring them to obtain a license from the Monetary Authority of Singapore (MAS).

Despite these challenges, the cryptocurrency industry continues to attract investors and users around the world. While some exchanges may struggle, others are thriving, and the industry as a whole shows no signs of slowing down. However, as the Zipmex case demonstrates, investors and exchanges must navigate a complex landscape filled with uncertainty and risk.


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Winklevoss Twins Fund Gemini Amid Crypto Downturn

The Winklevoss twins, co-founders of Gemini, have reportedly loaned their own money to support the cryptocurrency exchange during a period of market downturn. This news comes amid increased scrutiny from regulators, with both the U.S. Securities and Exchange Commission and the New York Department of Financial Services investigating Gemini’s activities.

In January, the SEC charged Gemini and Genesis Global Capital with offering unregistered securities through the exchange’s Earn program. Additionally, the New York Department of Financial Services launched an investigation following reports that users claimed assets in their Earn accounts had been given FDIC protection.

Following the announcement of the charges, Tyler Winklevoss accused the SEC of issuing a “manufactured parking ticket,” claiming that Gemini staff had been in talks with the regulator for over a year prior to the enforcement action. This mirrors the complaint of Coinbase, another cryptocurrency exchange whose legal officer claimed that the company met with the SEC more than 30 times over nine months before receiving a Wells notice.

Despite these challenges, the Winklevoss twins remain committed to Gemini and have put their own money into the exchange to ensure its continued success. Gemini has a strong reputation in the cryptocurrency industry, and the twins’ decision to support the exchange during a difficult time is a testament to their dedication to the platform and its users.

Gemini was founded in 2014 and has since become one of the most popular cryptocurrency exchanges in the United States. The exchange is known for its robust security measures and commitment to regulatory compliance, making it a trusted platform for users seeking to buy and sell digital assets.

The Winklevoss twins are also well-known figures in the cryptocurrency world, having made headlines for their involvement in the early days of Bitcoin. The twins famously sued Facebook founder Mark Zuckerberg, claiming he stole their idea for a social networking site. They later used their settlement money to invest in Bitcoin, becoming early adopters of the cryptocurrency and building their fortune in the industry.

In addition to their work at Gemini, the Winklevoss twins are also involved in other cryptocurrency-related ventures, including the digital asset marketplace Nifty Gateway. Their continued involvement in the industry is a positive sign for the future of cryptocurrency, as their support helps to legitimize and strengthen the ecosystem as a whole.

In conclusion, the Winklevoss twins’ decision to fund Gemini with their own money demonstrates their commitment to the exchange and the broader cryptocurrency industry. Despite regulatory challenges and market downturns, the twins remain optimistic about the future of digital assets and are working to build a more robust and secure ecosystem for users.


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dYdX to Exit Canadian Market

Cryptocurrency derivatives exchange dYdX has announced that it will be exiting the Canadian market due to regulatory restrictions. In an April 7 blog post, the exchange revealed that it would be winding down services in Canada over the next seven days. The move will begin with halting the onboarding of new users located in the country.

On April 14, dYdX will shift all existing Canadian users to “close-only mode,” which will allow them to withdraw funds but not engage in any new transactions. The exchange hopes for a change in the regulatory climate that will allow it to resume services in Canada.

In the blog post, dYdX stated its commitment to providing transparency around product decisions and democratizing access to financial opportunity. The exchange expressed hope that the regulatory climate in Canada would eventually change, enabling it to resume services in the country.

This move by dYdX follows the Canadian Securities Administrators announcing additional restrictions for crypto exchanges’ registration requirements in the country. According to the rules, platforms were prohibited from permitting Canadian clients to enter into crypto contracts to buy and sell any crypto asset that is itself a security and/or a derivative.

The regulatory restrictions in Canada have become a growing concern for cryptocurrency exchanges, with many having to shut down or exit the market altogether. It remains to be seen how the regulatory landscape will evolve in the future.

Notably, dYdX faced criticism from users and those in the crypto space in September 2022. The exchange had offered a $25 deposit bonus for confirming someone’s identity using a live webcam image. The promotion was later ended, citing “overwhelming demand” rather than privacy concerns put forth.

dYdX is a popular cryptocurrency derivatives exchange that allows users to trade various cryptocurrency assets on margin. The exchange has gained popularity in recent years due to its user-friendly platform and high liquidity.

In conclusion, dYdX’s decision to exit the Canadian market highlights the increasing challenges faced by cryptocurrency exchanges in the country. The regulatory restrictions have made it difficult for exchanges to operate, and it remains to be seen how the situation will evolve in the future. Nevertheless, dYdX’s commitment to transparency and democratizing access to financial opportunity remains unwavering.


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Mt. Gox Updates Creditors on Repayment Progress

Mt. Gox, once the largest cryptocurrency exchange, has been embroiled in a lengthy process of repaying its creditors since it was forced to shut down in 2014 after a massive hack that resulted in the loss of 850,000 Bitcoin (BTC). Despite subsequent high-profile crypto thefts, Mt. Gox’s demise remains the greatest cryptocurrency robbery in history.

In 2018, a Japanese court approved a compensation plan, but delays have continued to surround the repayment of funds to those affected. In March 2020, Nobuaki Kobayashi, the rehabilitation trustee for Mt. Gox, announced a new system for the remaining funds to be claimed by creditors through proof of claim via bank statements, transaction records, and identification documents.

The deadline for submitting claims was initially set for October 2020 but was later pushed back to December. After all claims were received, the total amount owed to creditors was nearly $16 billion, more than what was available for repayments.

On April 7, 2023, the company released a statement from Nobuaki Kobayashi, announcing that the deadline for creditors to provide their repayment information had passed. The statement also provided an update on the repayment process, stating that “base repayment, intermediate repayment, and early lump-sum repayments” will be carried out until October 31, 2023, with the possibility of an extension with the permission of the Tokyo District Court.

The statement further indicated that the trustee would carry out the necessary preparations for the repayments, including confirming the selections for repayment and sharing the information with banks, fund transfer providers, cryptocurrency exchanges, or any other custodian involved in the repayment.

However, due to the necessary preparations, the statement also noted that it is expected to take some time before the repayment is commenced. This news may disappoint some creditors who have been waiting for several years for their funds to be returned.

It is worth noting that in February 2023, the Mt. Gox Investment Fund, the largest creditor, decided to go for the option of an early payout in BTC for 90% of what is owed instead of waiting longer for a larger payment. This decision may have been driven by the uncertainty surrounding the repayment process and the desire to secure some form of payment sooner rather than later.

In conclusion, the saga of the Mt. Gox cryptocurrency exchange and the repayment of its creditors continues to drag on, with no clear end in sight. While the recent update provides some information on the repayment process, it is clear that it will take some time before the repayments are actually carried out. In the meantime, creditors will have to remain patient and hope that the process eventually comes to a satisfactory conclusion.


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Media Outlets Object to Withholding Identities in FTX Bankruptcy Proceedings

Several major media outlets, including Bloomberg, the Financial Times, The New York Times, and The Wall Street Journal’s parent company, Dow Jones & Company, have jointly objected to attempts to withhold the identities of non-US customers of cryptocurrency exchange FTX during its bankruptcy proceedings.

In a filing to a Delaware Bankruptcy Court on April 4, the media outlets argued that the press and the public have “a presumptive right of access to bankruptcy filings,” and that FTX and its customers have failed to justify the need for secrecy.

While FTX’s debtors are able to argue for the names of creditors to be redacted in bankruptcy filings, the media outlets believe that the names of FTX’s customers should not be sealed permanently.

The Ad Hoc Committee of Non-US Customers of, which represents the interests of FTX’s non-US customers, had claimed in a filing on December 28 that publicly revealing the names and private information of non-US customers would leave them vulnerable to identity theft, targeted attacks, and “other injury.”

In response, the media outlets argued that if the permanent sealing of customer identities were permissible on the grounds claimed by FTX and the ad hoc committee, then such sealing would become routine in virtually every bankruptcy proceeding.

FTX, which is one of the largest cryptocurrency exchanges in the world, filed for bankruptcy in December 2021, citing a liquidity crisis. The exchange had been struggling to meet customer demands for withdrawals in the wake of a crackdown on cryptocurrency trading in China, where it is based.

Since then, FTX has been engaged in a legal battle with its customers over the release of their identities. The exchange has argued that the identities should be kept secret to protect its customers’ privacy, while its customers have argued that the identities should be made public to ensure transparency in the bankruptcy proceedings.

The media outlets’ objection to the withholding of customer identities is likely to increase pressure on FTX and its debtors to release the names. However, it remains to be seen how the bankruptcy court will rule on the matter.

Cryptocurrency exchanges have come under increasing regulatory scrutiny in recent months, as governments around the world seek to crack down on money laundering and other illegal activities. The case of FTX is likely to be closely watched by regulators, as it could set a precedent for how cryptocurrency exchanges are regulated in the future.


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Bittrex to Wind Down US Operations

Cryptocurrency exchange Bittrex has announced that it will be winding down its operations in the United States due to a challenging regulatory and economic environment. The company’s co-founder and CEO, Richie Lai, stated that as the cryptocurrency ecosystem evolved, regulatory requirements have become increasingly “unclear” and “enforced, without appropriate discussion or input,” leading to an uneven competitive landscape. This environment has made it economically unviable for Bittrex to continue its operations in the United States.

Founded in 2014 by three cybersecurity engineers, Bittrex offered features such as a full-service API, near-instant atomic transactions, wallet infrastructure, and offline cold wallet solutions. However, the winding down of Bittrex’s US operations is a reminder of the challenges faced by cryptocurrency businesses navigating an uncertain regulatory environment.

The company’s founders have decided to focus on helping Bittrex Global succeed outside the United States. Bittrex clarified that US customers do not have to worry about the safety of their funds, as all of their capital is safe and available for withdrawal. The platform shared that it will permit trading until April 14, 2023, but advised customers to withdraw all funds by April 30, 2023.

Bittrex’s decision to wind down its US operations is not an isolated incident. On March 3, Ripple CEO Brad Garlinghouse warned that the Securities and Exchange Commission’s regulatory approach puts the US at “severe risk” of missing out on being an attractive hub for the next evolution of blockchain and crypto innovation. In a Bloomberg interview, Garlinghouse suggested that the crypto industry has “already started moving outside” of the US because the country’s crypto regulation is “behind” other nations like Australia, Japan, the United Kingdom, Singapore, and Switzerland.

The regulatory environment for cryptocurrencies in the US has been a subject of debate and discussion for some time. While some states, such as Wyoming, have taken a more lenient approach to cryptocurrency regulation, others have been more restrictive. In addition, the Securities and Exchange Commission (SEC) has been criticized for its lack of clarity regarding which cryptocurrencies qualify as securities and which do not. This lack of clarity has resulted in several high-profile legal battles between the SEC and cryptocurrency companies.

Despite these challenges, the cryptocurrency industry continues to grow and evolve. While Bittrex may be winding down its US operations, other exchanges and companies are likely to step in to fill the void. It remains to be seen how the regulatory environment for cryptocurrencies will evolve in the coming years, but one thing is clear: the demand for cryptocurrencies and blockchain technology shows no signs of slowing down.


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