SINGAPORE, Oct. 11, 2024 /PRNewswire/ — Since its official launch in 2024, Jumpex Cryptocurrency Exchange has been committed to providing high-quality trading services to a global community of traders. Over the past few months, Jumpex Cryptocurrency Exchange has played a positive role in enabling seamless cryptocurrency trades and futures transactions. However, due to evolving market conditions and regulatory changes, the company has made the difficult decision to permanently close its operations on November 30, 2024.

As part of this process, all futures and spot trading positions on the platform will be closed on October 17, 2024. From this date forward, the platform will only retain the withdrawal function. This function will be available until the final closure date of November 30, 2024. During this period, Jumpex Cryptocurrency Exchange will remain fully operational to facilitate user withdrawals, and their customer service team will continue to offer professional support to assist users throughout this transition.

Jumpex Cryptocurrency Exchange extends its sincere apologies for any inconvenience this may cause its users and appreciates the continued trust and support shown over the years. The team remains hopeful that will meet again in the future under better circumstances.

For further inquiries or assistance, users are encouraged to reach out to Jumpex’s customer service team.

This announcement marks the official closure of Jumpex Cryptocurrency Exchange.

About Jumpex

Jumpex Cryptocurrency Exchange was established in 2024 to provide traders worldwide with a secure and reliable platform for cryptocurrency trading. Since then, it has built a reputation for offering professional futures and spot trading services. The platform’s commitment to user experience, safety, and customer service has been at the core of its success. Quickly gained recognition for its focus on high-leverage trading and innovative solutions, offering traders a secure platform with excellent customer service.

For more information, please visit Jumpex.com or contact their support team.

View original content:https://www.prnewswire.com/news-releases/jumpex-cryptocurrency-exchange-announces-permanent-closure-of-platform-by-november-30-2024-302273897.html

SOURCE Jumpex

Featured Image: depositphotos @ monsit

Disclaimer

DUBAI, UAE, Oct. 11, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, in collaboration with Blocks Scholes, is excited to unveil its latest crypto derivatives report. This insightful report explores the market’s response to recent price fluctuations and the backdrop of the upcoming U.S. election.

Key Insights:

Decline in BTC Options Implied Volatility: Surprisingly, implied volatility for Bitcoin (BTC) options has dropped, despite the looming U.S. election. Traditionally, market uncertainty would lead to increased volatility ahead of major events, like the much-anticipated BTC Spot ETF launch, making this a noteworthy deviation.

Surge in Call Option Volumes: BTC call option trading volumes have surged significantly in recent weeks, potentially signaling a shift towards a bullish market sentiment.

Muted Futures Activity: While futures trading saw positive momentum with early October’s market volatility, open interest has remained relatively subdued compared to pre-September expiration levels.

Spike in BTC Perpetual Swap Volumes: Open interest in BTC perpetual swaps remained stable; however, trading volumes surged in response to early October’s volatility spike, marking an important market movement.

Cautious Sentiment in ETH Options: Ethereum (ETH) options also saw a decline in implied volatility. Put option volumes have surpassed call volumes over the past week, suggesting traders are taking a more cautious stance regarding ETH‘s future price movements.

Access the Full Report:

Gain deeper insights and explore the potential impacts on your crypto trading strategies by downloading the full report here: https://learn.bybit.com/crypto-insight/bybit-x-block-scholes-crypto-derivatives-analytics-report-oct-9-2024/

#Bybit / #TheCryptoArk /#BybitResearch

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.

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

Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube

View original content to download multimedia:https://www.prnewswire.com/news-releases/bybit-x-block-scholes-derivatives-report-uncovers-btc-call-option-boom-amidst-election-uncertainty-302273879.html

SOURCE Bybit

Featured Image: Pexels @ Ivan Babydov

Disclaimer

The First Trading Arena Where 1,149 Traders Put Real Cash on the Line

SINGAPORE, Oct. 10, 2024 /PRNewswire/ — The Alpha Trading Cup 2024 is a high-stakes, live trading competition in which traders worldwide showcase their skills and dominate the financial markets. Hosted by Next Level Academy, Ascension Profits, and Monaxa, the event runs from August 15 to September 30, 2024.

This competition brings together top traders who compete in various asset classes, including crypto, forex, precious metals, indices, and stocks. With a prize pool of USD 44,000, participants also gain the unique opportunity to learn from seasoned professionals, test their strategies in real time, and potentially secure positions with hedge funds scouting for fresh talent.

“The purpose of the Alpha Trading Cup (ATC) is to discover the best traders and foster a culture of learning and collaboration,” says Sean Seah, Founder of Next Level Academy. “Our goal is to build a tribe of successful traders who are eager to share their knowledge and learn from one another. Throughout the competition, I’ve seen traders step up to share valuable lessons, strategies, and even their mistakes, while others have supported and guided newer participants. Together, we’ve helped over 1,000 traders progress, creating a thriving, supportive community.”

Over 1,149 traders from 22 countries have not only risked real money but also benefited from training by over a dozen world-class experts in diverse trading techniques, including algorithmic charting, crypto, forex, hedge fund strategies, and options. This is the first trading competition that combines high-stakes practical implementation with comprehensive education.

“While emotions may sway others, the quant trader focuses on data. The patterns are always there if you know how to find them, and that’s where the real opportunities lie,” says Alison Gan, AI Quant Trader at Next Level Academy.

Eric Ong, a Private Hedge Fund Advisor, adds, “The Alpha Trading Cup has enriched the trading community by fostering innovation, skill development, and collaboration. It provides a dynamic platform for traders of all levels to exchange knowledge and showcase their talents, driving the industry forward. The competition reinforces our commitment to integrity and sustainability by emphasizing ethical and responsible trading practices. As we celebrate this year’s participants, we recognize how the Alpha Trading Cup strengthens the entire trading ecosystem, creating a more informed, engaged, and resilient community. Together, we are shaping the future of trading.”

“When the Alpha Trading Cup (ATC) was first conceived, the idea was to create an enriching and informative environment for people from all walks of life to be able to learn and immerse themselves in the journey towards creating income in the financial markets. All too often, many people have the pre-conceived notion that being able to create income in the financial markets is only for proficient traders. Through this ATC and its related sharing sessions and tools and services provided, I’ve seen not just experienced traders profit but also beginner and novice participants alike.There has been tremendous growth in the community in terms of knowledge, financial gains, and breakthroughs. I sincerely wish that the vibrant ATC community continues their journey towards financial betterment through what they’ve learned and experienced in this ATC,” says Terence Tan, founder of Ascension Profits.

In the Alpha Trading Cup, participants invest their own capital, applying live strategies such as algorithmic trading and quantitative modeling, rather than relying on virtual capital or demo accounts. This ensures that every trader leaves the competition with actionable, practical techniques that can help them achieve financial independence.

About Next Level Academy

Next Level Academy is a premier educational platform offering comprehensive training and mentorship for investors and traders.

Known for its hands-on approach and expert-led events, Next Level empowers individuals to achieve financial freedom and transform their lives through effective wealth-building strategies.

About Monaxa

Monaxa is a leading online trading platform that empowers traders of all levels to achieve financial success. Through its educational resources, hands-on training, and cutting-edge technology, Monaxa enables individuals to trade a wide variety of assets and make informed financial decisions.

About Ascension Profits:

Ascension Profits empowers individuals to achieve financial freedom through strategic passive income generation and wealth compounding. We serve a diverse clientele—from busy professionals to entrepreneurs and retirees—all seeking to maximize their financial potential without additional time investment. Our proven methods enable clients to build wealth efficiently, allowing them to prioritize what truly matters: family, passions, and life experiences. At Ascension Profits, we don’t just build wealth; we pave the way for lives well-lived.

View original content to download multimedia:https://www.prnewswire.com/news-releases/alpha-trading-cup-2024-the-first-trading-arena-where-1-149-traders-put-real-cash-on-the-line-302272813.html

SOURCE Next Level Academy

Featured Image: depositphotos @ monsit

Disclaimer

The U.S. Securities and Exchange Commission (SEC) has taken significant steps to combat crypto market manipulation, an issue that has plagued the digital asset space for years. In a recent wave of enforcement actions, the SEC filed civil fraud charges against nine individuals and three companies accused of using market manipulation schemes to artificially inflate the value and trading volume of various cryptoassets. These cases highlight the ongoing challenges of regulating a nascent industry prone to exploitation

Crypto Market Manipulation: A Growing Concern

Crypto market manipulation has become a central concern for regulators as the digital asset market continues to evolve. The focus keyword, “crypto market manipulation,” has surfaced in numerous discussions as authorities attempt to curb illegal trading practices that deceive retail investors. The SEC’s charges are centered on fraudulent tactics that created the illusion of a thriving market, leading to substantial financial losses for unsuspecting investors.

One notable method used in these schemes is “wash trading,” a practice where traders simultaneously buy and sell the same cryptoasset to generate fake trading volume. By creating the appearance of liquidity and demand, fraudsters can manipulate prices, making the asset more attractive to potential investors. Wash trading has been illegal in traditional financial markets for decades, and U.S. regulators are now applying these standards to cryptocurrency as well.

SEC Targets Crypto Manipulation-as-a-Service

According to the SEC, two companies—ZM Quant and Gotbit—offered “market-manipulation-as-a-service.” These firms provided services to artificially inflate the trading volumes or manipulate the prices of certain cryptoassets, all while duping retail investors. By fostering an illusion of activity, they drove up interest and investment in assets that otherwise had little to no value.

One of the cryptoassets targeted by these manipulators was actually created by the FBI as part of an investigation into fraudulent activity within the crypto market. The asset’s creation allowed authorities to track illegal transactions and gather evidence against those involved in the manipulation schemes. This operation marks the first of its kind and signals that regulators are becoming more sophisticated in their approach to cracking down on crypto market manipulation.

Criminal Charges in Parallel Cases

In addition to the SEC’s civil charges, the U.S. Attorney’s Office for the District of Massachusetts filed parallel criminal charges. Several individuals were accused of market manipulation and wash trading in the crypto sector. Four defendants, including a Canadian resident, have pleaded guilty, and three others have been arrested in Texas, the U.K., and Portugal.

More than $25 million in cryptocurrency has been seized during the investigation, and multiple trading bots responsible for millions of dollars in wash trades across 60 different cryptocurrencies have been deactivated. This operation has significantly disrupted the infrastructure of these manipulation schemes, marking a critical victory for U.S. authorities in their effort to regulate the crypto market.

Implications for the Crypto Industry

The SEC’s actions reflect the growing concern over crypto market manipulation and its potential to harm investors. While the technology behind cryptocurrency is innovative, it has also opened the door to age-old financial scams like pump-and-dump schemes, where promoters artificially drive up the price of an asset before selling off their holdings, leaving investors with significant losses.

“We remain concerned about the ease with which the market for a cryptoasset can be manipulated and are committed to rooting out instances of such misconduct when it involves securities,” said Jorge Tenreiro, acting chief of the SEC enforcement division’s cryptoasset and cyber unit.

The allegations have not been proven, but three individuals have agreed to settlements with the SEC, subject to court approval. These settlements include conduct-based injunctions to prevent further violations of securities laws. The court will later determine financial penalties and disgorgement in these cases.

The Road Ahead for Crypto Regulation

As the crypto market grows, so does the need for stronger regulatory frameworks to protect investors from fraud. The SEC and other U.S. authorities have made it clear that they will not tolerate market manipulation in any form, whether in traditional securities or digital assets.

This crackdown on crypto market manipulation represents a turning point in the ongoing effort to regulate the industry. Investors can expect increased scrutiny on crypto exchanges, token issuers, and other market participants as regulators work to ensure transparency and fairness in the market.

The SEC’s focus on crypto market manipulation signals a new chapter in cryptocurrency regulation, one where enforcement actions and technological innovations work hand in hand to safeguard investors and uphold the integrity of the financial system.

Featured Image: Freepik

Please See Disclaimer

Crypto.com has taken a bold step in its ongoing battle against the U.S. Securities and Exchange Commission (SEC) by filing a lawsuit challenging the agency’s regulatory stance on cryptocurrencies. The legal action comes in response to a Wells Notice issued to Crypto.com, signaling potential enforcement actions due to alleged securities law violations.

The Wells Notice, which serves as a formal warning, has sparked significant debate in the cryptocurrency industry. Crypto.com argues that the SEC’s approach to regulating digital assets is overly broad and stifles innovation. The company claims that the lack of clear guidelines has left crypto businesses in a state of uncertainty, hindering their ability to operate effectively.

The lawsuit filed by Crypto.com seeks to compel the SEC to provide more precise regulatory frameworks. The company emphasizes the importance of clarity in regulations to foster growth and protect investors. Crypto.com insists that without such clarity, the U.S. risks falling behind in the global race for blockchain and cryptocurrency innovation.

Crypto.com’s legal team is building its case on the premise that cryptocurrencies represent a fundamentally different asset class that requires tailored regulatory treatment. They argue that applying traditional securities laws to digital assets is not only inappropriate but also detrimental to the industry’s growth.

In its defense, the SEC maintains that its regulatory actions are necessary to protect investors from potential fraud and market manipulation. The agency argues that many cryptocurrencies function similarly to securities and should therefore be subject to the same regulatory scrutiny.

This legal confrontation could set a significant precedent for how cryptocurrencies are regulated in the United States. Industry experts are closely monitoring the case, as its outcome could influence future regulatory policies and the broader acceptance of digital currencies.

As Crypto.com continues its legal battle, other crypto companies are expressing solidarity, with some considering similar actions. The case highlights the ongoing tensions between regulatory authorities and the rapidly evolving cryptocurrency market.

Crypto.com, known for its user-friendly platform and innovative financial products, is determined to lead the charge for clearer regulations. The company believes that with the right legal framework, cryptocurrencies can thrive and provide immense value to both individual investors and the global financial system.

This lawsuit marks a pivotal moment for the cryptocurrency industry, as it seeks to balance regulatory compliance with the need for innovation and growth. The outcome of this case could redefine the future of digital assets in the U.S., setting a course for more defined and supportive regulatory environments.

Featured Image: Unplash @ austindistel

Disclaimer