CryptoCurrencyNews, Author at 007 Stock Chat

Bittrex Global Owners and Former Executives File Suits Against the Bermuda Monetary Authority (BMA)

Written by CryptoCurrencyNews on January 24, 2025. Posted in Cryptocurrency.

Owners and former executives apply for a court review of the regulator’s decision to take enforcement action against the exchange following its voluntary application for liquidation
In a separate action, the court-appointed independent liquidator of Bittrex Global is challenging the constitutionality of the lack of an effective appeal framework in relation to the enforcement actions under Bermuda’s Digital Asset Business Act (DABA)

HAMILTON, Bermuda, Jan. 23, 2025 /PRNewswire/ — Bittrex Global owners and former executives confirmed today the filing of two suits against the Bermuda Monetary Authority (BMA) in the Supreme Court of Bermuda. Based on this development Bittrex Global owners and former executives released the following statement today:

“In November 2023, we announced that Bittrex Global would be ceasing operations. We then entered a four-month period of consultation with the BMA and a globally recognised firm to act as liquidators to develop a plan to ensure an orderly wind-down and the safe return of all claimed funds to former customers. Three business days after the Court approved the liquidation plan and the appointment of the proposed independent liquidators, the BMA issued a warning notice to the company that it intended to take enforcement action.

“We have asked the Court to review the decision of the BMA to bring enforcement action in these circumstances. Unfortunately, the Digital Asset Business Act (DABA) does not afford us, as owners and former executives, the right to respond directly. Therefore, we have also had to file a Constitutional claim in order to challenge the decision.

“Bittrex Global became one of the first companies regulated under Bermuda’s flagship crypto regulation in 2020. Since then, we have worked closely with the BMA, providing them with business plans and other materials setting out in detail all our policies and procedures. Where the BMA made suggestions, for example as part of an annual on-site inspection, these were promptly implemented. It was extremely surprising to learn, mere days after choosing to liquidate the company and after months of consultation with the BMA about our plans, that the BMA intended to bring enforcement action in relation to those same policies and procedures it had known about and in many cases approved over the previous three years. It was further shocking to learn that they proposed to deviate significantly from their own official published guidance and issue a civil penalty over four times the maximum amount under that guidance.

“In a separate court filing, Bittrex Global, acting through the court-appointed independent liquidators, is challenging the constitutionality of DABA’s lack of an effective appeal framework in relation to enforcement actions.

“The return of claimed assets to all Bittrex Global users is already in an advanced stage, under the direction of the independent liquidators and the supervision of the Supreme Court of Bermuda. To date, over 94% of claimed funds have already been returned, and it is anticipated that all claimed funds will be returned in accordance with applicable law in the coming weeks. Bittrex Global owners and former executives have continued to assist in this process, and the return of claimed funds remains our overriding priority.”

View original content:https://www.prnewswire.co.uk/news-releases/bittrex-global-owners-and-former-executives-file-suits-against-the-bermuda-monetary-authority-bma-302358804.html

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TiltPlay Launches as a Gaming Platform on the Soneium Ecosystem

Written by CryptoCurrencyNews on January 23, 2025. Posted in Cryptocurrency.

“The Game is On”

TAIPEI, Jan. 22, 2025 /CNW/ — TiltPlay, a gaming platform offering fast-paced and engaging casual games, is proud to announce its official launch on the Soneium ecosystem. This launch positions TiltPlay as dynamic, skill-focused gaming experience to the Web3 space.

TiltPlay combines accessible gameplay with innovative technology to deliver a seamless experience across platforms, including Telegram mini-apps and web browsers. The platform’s unique approach introduces:

Exciting Game Variety: A growing library of casual games designed to challenge and entertain.
Skill-Based Progression: Players are rewarded for their mastery and expertise, ensuring a fair and fun competitive environment.
Web3 Integration: Built on Soneium, providing a decentralized and secure gaming experience.

“With TiltPlay, we’re redefining mini-games by putting fun and skill at the forefront,” said Jeffrey Huang, Product Director at TiltPlay. “Our collaboration with the Soneium ecosystem allows us to deliver a platform that’s accessible, enjoyable, and innovative for all players.”

TiltPlay is now live, inviting gamers worldwide to dive into its features, test their skills, and connect with a vibrant community.

For more information about TiltPlay, visit TiltPlay.gg.

View original content to download multimedia:https://www.prnewswire.com/news-releases/tiltplay-launches-as-a-gaming-platform-on-the-soneium-ecosystem-302357357.html

SOURCE TiltPlay

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Galaxy Asset Management: December 2024 Month End AUM

Written by CryptoCurrencyNews on January 22, 2025. Posted in Cryptocurrency.

NEW YORK, Jan. 21, 2025 /CNW/ – Galaxy Digital Holdings Ltd. (TSX: GLXY) (“Galaxy”) announced that its affiliate, Galaxy Asset Management, (“GAM”), reported preliminary assets under management of $5.7 billion as of December 31, 2024. The 6.5% decrease in preliminary AUM compared to the prior month was primarily driven by market depreciation and net outflows from GAM’s Passive Funds.

Note – we will be discontinuing the release of our AUM on a monthly cadence. AUM figures will continue to be published quarterly as part of Galaxy’s earnings releases.

	Assets Under Management (“AUM”)^(a)(b) (in millions)
	9/30/23	12/31/23	3/31/24	6/30/24	9/30/24	11/30/24	12/31/24
Funds^(c)	$2,305	$3,098	$4,378	$3,983	$4,207	$5,577	$5,178
Opportunistic^(d)	$1,612	$2,078	$3,440	$520	$429	$510	$511
*Total*	$3,917	$5,176	$7,818	$4,503	$4,636	$6,087	$5,689

(a)	All figures are unaudited. AUM is inclusive of sub-advised funds, committed capital closed-end vehicles, seed investments by affiliates, affiliated and unaffiliated separately managed accounts, and fund of fund products. Changes in AUM are generally the result of performance, contributions, withdrawals, new mandates, and acquisitions.
(b)	AUM for committed capital closed-end vehicles that have completed their investment period is reported as NAV plus unfunded commitment. AUM for quarterly close vehicles is reported as of the most recent quarter available for the applicable period. AUM for affiliated separately managed accounts is reported as NAV as of the most recently available estimate for the applicable period.
(c)	“Funds” line item consists of AUM held in GAM’s Passive, Active, and Venture funds.
(d)	“Opportunistic” AUM are near-term or mid-term engagements to unwind portfolios managed by GAM.

Additional information regarding GAM can be found on our website at https://www.galaxy.com/asset-management.

About Galaxy Galaxy (TSX: GLXY) is a digital asset and blockchain leader providing access to the growing digital economy. We serve a diversified client base, including institutions, startups, and qualified individuals. Since 2018, Galaxy is building a holistic financial platform spanning three complementary operating businesses: Global Markets, Asset Management, and Digital Infrastructure Solutions. Our offerings include, amongst others, trading, lending, strategic advisory services, institutional-grade investment solutions, proprietary bitcoin mining and hosting services, network validator services, and the development of enterprise custodial technology. The company is headquartered in New York City, with global offices across North America, Europe, and Asia.

Additional information about Galaxy’s businesses and products is available on www.galaxy.com

Disclaimers
GAM is an affiliate of Galaxy Digital Holdings Ltd., a company listed on the Toronto Stock Exchange (“TSX”). The TSX has not approved or disapproved of the information contained herein.

SOURCE Galaxy Digital Holdings Ltd.

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Crypto Dawn: A Thrilling Journey into the Future of Cryptocurrency with 1 BTC & Tesla as Rewards

Written by CryptoCurrencyNews on January 21, 2025. Posted in Cryptocurrency.

DUBAI, UAE, Jan. 20, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to launch “Crypto Dawn” campaign for new users and traders, inviting them to embark on a journey into the vibrant world of cryptocurrency under the theme “Heading Towards the Bright Future of Cryptocurrency.” This initiative offers participants engaging opportunities to deposit, trade, collect crypto cards, and win remarkable prizes, including 1 BTC and a Tesla Model 3.

A New Era in Cryptocurrency

By 2025, Bitcoin has become a key geopolitical asset, with governments and central banks exploring its role in national reserves alongside gold and fiat currencies. Industry experts highlight recent policy shifts in major economies as a sign of Bitcoin’s growing importance in global finance. Discussions around creating dedicated Bitcoin reserves have further fueled optimism, reflecting a broader confidence in cryptocurrency’s future among advocates and markets worldwide.

Crypto Dawn: Deposit, Trade, and Collect

1. Deposit

Participants begin by depositing at least $100 to select from a variety of cryptocurrencies, including SOL, XRP, SUI, MNT, DOGE, AAVE, ENA, LINK, bbSOL, and TON. Each eligible deposit qualifies for a reward, distributed on a first-come, first-served basis, and grants one lottery ticket for daily rewards.

2. Trade

Trading activities allow participants to earn crypto cards, which represent different cryptocurrencies. Collecting at least six cards enables the synthesis of a lottery ticket, increasing eligibility for additional rewards. Frequent trading enhances opportunities to gather more cards and tickets. Lucky draw prizes include Tesla Model 3, Rolex Submariner, BTC, ETH, XRP tokens and others.

3. Collect

On Feb. 7, a Bitcoin block hash will determine the campaign’s grand prize winner. The participant whose lottery ticket numbers match the block hash most closely will be awarded 1 BTC.

Crypto Dawn: A Thrilling Journey into the Future of Cryptocurrency with 1 BTC & Tesla as Rewards

Joan Han, Sales and Marketing Director of Bybit, shared her excitement about the campaign, stating, “Crypto Dawn exemplifies our commitment to creating engaging and rewarding experiences for our users. By offering a combination of fun, innovation, and significant prizes, we aim to make cryptocurrency more accessible and appealing to everyone.”

With a focus on fostering accessibility and engagement, Bybit’s “Crypto Dawn” campaign paves the way for new and seasoned traders to explore the possibilities of cryptocurrency while celebrating the innovation and opportunities of the digital asset space.

#Bybit #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: media@bybit.com
For updates, please follow: Bybit’s Communities and Social Media

Photo – https://www.007stockchat.com/wp-content/uploads/2025/01/Crypto_Dawn_Bybit.jpg

Logo – https://www.007stockchat.com/wp-content/uploads/2024/03/Logo.jpg

View original content:https://www.prnewswire.co.uk/news-releases/crypto-dawn-a-thrilling-journey-into-the-future-of-cryptocurrency-with-1-btc–tesla-as-rewards-302355651.html

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KuCoin Launches Official Trump Token on Spot Trading Platform

Written by CryptoCurrencyNews on January 20, 2025. Posted in Cryptocurrency.

VICTORIA, Seychelles, Jan. 19, 2025 /PRNewswire/ — KuCoin, a top global exchange, is thrilled to announce the addition of the Official Trump (TRUMP) token to its Spot trading platform, a milestone reflecting their commitment to broadening the diverse trading portfolio. Trading for TRUMP begins with a call auction on January 18, 2025, from 13:00 to 14:00 UTC, followed by regular trading at 14:00 UTC. Deposits are open immediately on the SOL-SPL network, with withdrawals starting at 10:00 on January 19, 2025.

$TRUMP token encapsulates a moment that transcended into a viral meme, symbolizing a remarkable chapter in digital culture. This token leverages the viral nature of modern memes to offer a unique asset in the blockchain space. The token is supported on KuCoin by trading bots including Spot Grid, Infinity Grid, and AI-driven strategies, enhancing trading flexibility and options for users.

To celebrate this launch, users depositing $TRUMP before January 22, 2025, will receive a 30 USDT trading fee discount, enhancing their trading experience. For more details about the token and to participate in the offering, visit KuCoin’s official website.

About KuCoin

Founded in 2017, KuCoin is one of the pioneering and most globally recognized technology platforms supporting digital economies, built on a robust foundation of cutting-edge blockchain infrastructure, liquidity solutions, and an exceptional user experience. With a connected user base exceeding 38 million worldwide, KuCoin offers comprehensive digital asset solutions across wallets, trading, wealth management, payments, research, ventures, and AI-powered bots. KuCoin has garnered accolades such as “Best Crypto Apps & Exchanges” by Forbes and has been recognized among the “Top 50 Global Unicorns” by Hurun in 2024. These recognitions reflect its commitment to user-centric principles and core values, which include integrity, accountability, collaboration, and a relentless pursuit of excellence.