China News Official TheBitTimes.com

The unlicensed exchange allegedly solicited than $128 million from users before being reprimanded by the Hong Kong Securities and Futures Commission. Troubled Hong Kong crypto exchange JPEX has applied for deregistration in Australia. According to a filing seen by Cointelegraph on September 20, Jieyi Chen, director of JP-EX Crypto Asset Platform PTY LTD (JPEX), has filed a deregistration application with the Australian Securities and Investment Commission (ASIC). In the filing, JPEX claims that all members of the company agree to the deregistration , the company is no longer carrying business, its assets do not exceed $1000 Australian Dollars, and carries no liabilities. On September 13, during the Token2049 conference in Singapore, the JPEX team allegedly abandoned its corporate booth after Hong Kong police arrested six JPEX employees on charges of fraud for operating an unlicensed crypto exchange . The Hong Kong Securities and Futures Commission (SFC) said on the same day that it...

Binance, the world’s largest crypto ex change , has reportedly completed the due diligence necessary for the acquisition of Gopax . The organization is one of the top 5 ex change s in South Korea . If the deal materializes, it will open the doors for Binance to re-enter the South Korea n market. Back in August 2021, Binance decided to pull the plug on the trading pairs associated with the South Korean Won. In addition to this, all things South Korean were removed from the exchange. Prior to that, the exchange announced that it would terminate its operations in South Korea due to low volume and usage in 2020. According to Decenter, Binance has recently completed due diligence on the acquisition of Gopax. Gopax is one of the five major South Korean exchanges (Upbit, Bitsum, Coinone, Corbit, Gopax). Binance previously announced the acquisition of exchanges in Japan and Indonesia. — Wu Blockchain (@WuBlockchain) January 2, 2023 Read More: South Korea is now on the...

Bullish crypto momentum fizzled after Fed Chair Powell poured cold water on investors’ hopes that a positive CPI report would trigger a trend change, but higher time frames remain interesting. Crypto Markets threw a nice head fake this week by rallying into resistance on a “positive” Consumer Price Index (CPI) report, before retracing the majority of those gains right after Federal Reserve Chair Jerome Powell took on a surprisingly hawkish tone during his post-rate-hike presser.  The Fed hiked interest rates by 0.50%, which was well within the expectation of most market participants, but the eyebrow-raiser was the Federal Open Market Committee consensus that rates would need to reach the 5%–5.5%+ range in order to hopefully achieve the Fed’s 2% inflation target. This basically threw cold water on traders’ lusty dreams of a Fed policy pivot taking place in the first half of 2023, and the damper on sentiment was felt throughout crypto and equities markets. As the charts below show, Bit...