Hackers broke into another cryptocurrency exchange and stole $5 million in Ripple and Cardano coins. But institutional investors just don’t care as their crypto activity has risen by more than 300% in the last 12 months. Meanwhile, Binance sent $1.2 billion transfer and paid for in less than 2 cents. CryptoHound single out the hottest news.
Another Indian Crypto Exchange Shuts Down Blaming Banking Ban
The Indian crypto exchange Koinex says it’s been forced to shutter its services due to the ban of crypto firms in the country, ordered by the Reserve Bank of India (RBI) in April 2018. Koinex further said that a news report about proposed Indian legislation called the ‘Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019’ has created nervousness among customers and caused trading to further drop off. However, currently, the RBI banking ban is being challenged in the Supreme Court, so the future of crypto exchanges in the country is still under the question.
Kraken Raises Over $13 Million In Its Latest Fundraising Round
San Francisco-based cryptocurrency exchange Kraken has raised $13.5 million from 2264 investors, surpassing its initial target of $10.2 million purportedly due to popular demand. The successful fundraising campaign of Kraken is the result of over four million clients in nearly 200 countries — is the most successful funding round by individual contributors on BnkToTheFuture.
Singaporean Exchange Bitrue Gets Hacked, Losing $5 Million in XRP, Cardano
Singapore-based crypto exchange Bitrue has suffered a major hack, losing 9.3 million XRP and 2.5 million cardano (ADA) from its hot wallet. And this is another significant exchange hack over the last week: we were discussing the hack of South Korean crypto exchange Bithumb earlier before.
Genesis Capital: Institutional Activity in Crypto Up 300% in 12 Months
Data from institutional crypto lender Genesis Capital reveals a significant increase in activity from institutional counter-parties, with volumes two to three times higher than they were twelve months ago. And Bitcoin (BTC)’s rise to multi-month highs may be attributable to exactly this uptick in institutional activity.
‘Future is Here’ Declares CEO as Binance Transfers $1.2 Billion For Under 2 Cents
On June 26, about $1.2 billion in binance coin (BNB) has been transferred in 1.1 seconds with a $0.015 fee on the binance chain. The exciting part is that the exchange paid just $124.60 in network fees for such a service.