Bybit, a leading cryptocurrency exchange, has officially ceased its operations in Malaysia following directives from the Securities Commission Malaysia (SC) . This development highlights the ongoing regulatory challenges faced by global cryptocurrency platforms in adhering to local compliance standards. Regulatory Actions Against Bybit The SC flagged Bybit and its CEO, Ben Zhou, for operating a Digital Asset Exchange (DAX) in Malaysia without proper registration as a Recognized Market Operator (RMO) under the Capital Markets and Services Act 2007. Key Actions Directed by the SC: Disable Access: Bybit was ordered to shut down its website, mobile applications, and any other digital platforms within Malaysia by December 26, 2024 . Cease Advertising: The exchange had to halt all advertisements, both online and offline, targeting Malaysian investors. Terminate Support Groups: Bybit was instructed to close its Malaysian Telegram support group immediately. The SC emphasized that un...

  Bitget Token (BGB), the native cryptocurrency of Bitget Exchange and Wallet, has hit an all-time high of $8.5 following a strategic merger with Bitget Wallet Token (BWB). This milestone underscores the platform's robust growth and innovative approach to expanding its ecosystem. Merger of BGB and BWB: A Unified Ecosystem The recent merger of BGB and BWB aims to unify Bitget’s exchange and wallet platforms under a single token. The merger simplifies the ecosystem while enhancing the utility and value of BGB. Conversion Ratio : BWB holders will receive BGB at a 0.08563 ratio. All BWB tokens will be burned, and users will receive BGB via airdrop. Purpose : The merger aligns on-chain and off-chain applications, creating a robust ecosystem. CEO Perspective : Gracy Chen, CEO of Bitget, highlighted the move as "a major step toward building a unified and resilient ecosystem for BGB holders." BGB’s Exceptional Performance The merger has driven unprecedented demand for BGB, with ...

  TradingView has recently rolled out significant updates that broaden its data offerings and analytics capabilities, solidifying its position as a leading trading platform. From integrating ICE Endex data to enhancing cryptocurrency and futures analytics, these developments cater to diverse traders and risk managers. Here’s a concise breakdown of the latest enhancements: 1. Energy Market Expansion with ICE Endex TradingView has added ICE Endex data to its platform, providing users access to futures, indices, and spot data for European energy markets. Key Highlights: Access to Dutch Transfer Facility (TTF) natural gas futures and EU Emissions Trading System contracts. Tools for settlement price visualization and back-adjustment of futures contracts. Prefix “ICEENDEX:” allows users to search symbols for energy market trading. This update empowers energy traders with advanced tools and insights, facilitating more accurate contract assessments and strategy development. 2. Advanced Fea...

  OpenAI, the developer behind ChatGPT, has been hit with a €15 million fine by Italy’s data protection authority (Garante) following a probe into the company's data protection practices. The investigation, which began in March 2023, revealed a series of alleged violations, including insufficient transparency, the use of personal data without an adequate legal basis, and the lack of proper age verification mechanisms. This fine, coupled with a mandated six-month public education campaign, highlights the increasing regulatory scrutiny faced by AI platforms in Europe, particularly under the General Data Protection Regulation (GDPR). Key Findings from the Investigation Data Privacy Violations OpenAI processed users' personal data to train ChatGPT without establishing a sufficient legal basis. The company failed to adequately inform users and non-users about data collection practices, violating GDPR principles of transparency. Age Verification Issues ChatGPT lacked robust mechanism...

  Summary : The cryptocurrency market is facing significant headwinds, with Bitcoin (BTC) dipping below $96,000 for the first time in weeks. The drop, triggered by the Federal Reserve's cautious stance on interest rate cuts, has led to $680 million in outflows from Bitcoin ETFs and $800 million in market-wide liquidations. Key Developments in Bitcoin ETFs U.S. spot Bitcoin ETFs experienced $680 million in outflows on Dec. 19, breaking a 15-day streak of inflows that totaled $6.7 billion. Fidelity’s FBTC led the outflows with $208.55 million, followed by Grayscale’s Bitcoin Mini Trust ($188.6 million) and ARK 21Shares’ ARKB ($108.35 million). Despite outflows, trading volume surged to $6.31 billion, highlighting heightened market activity amid volatility. Ethereum ETFs also saw outflows of $60.47 million, though cumulative inflows for the year remain positive at $2.4 billion. Market-Wide Liquidations and Volatility Over $846 million was liquidated in the past 24 hours, impacting nea...

  Hut 8, a leading Bitcoin mining and energy infrastructure company in North America, has solidified its position as a major player in the cryptocurrency market. The firm recently announced the purchase of 990 Bitcoin at an average price of $101,710 per coin , bringing its total reserves to 10,096 BTC , valued at over $1 billion . Strategic Reserve to Drive Growth and Innovation Hut 8’s Bitcoin reserve, built through a combination of low-cost mining and strategic market purchases, serves as a cornerstone of its treasury strategy. The company has achieved an average acquisition cost of $24,484 per Bitcoin , leveraging its reserve as a flexible asset for financing growth initiatives, optimizing its balance sheet, and driving shareholder returns. CEO Asher Genoot emphasized the strategic importance of the reserve: “Our Bitcoin reserve supports a flywheel effect that aligns our capital and operating strategies, enabling us to accelerate value creation across the business.” Key Growth...

   The Cyprus Securities and Exchange Commission (CySEC) has unveiled a newly redesigned website aimed at improving navigation, accessibility, and functionality for regulated firms, investors, and the general public. This marks the first phase of an ambitious effort by CySEC to modernize its digital presence and provide a more streamlined experience for its stakeholders. Key Features of the New Website Upgraded Search Tool The website includes a powerful new search tool that allows users to quickly access detailed information about all current and former regulated firms. This feature is designed to enhance efficiency and support regulatory compliance by making information more accessible to users. Centralized Hub A comprehensive central hub has been integrated into the platform, serving as a one-stop resource for regulated entities and stakeholders. The hub provides access to important registries and portals, enabling firms to submit relevant information directly to CySEC. Spe...

  Axe Trader, a proprietary trading firm, has announced the immediate suspension of all trading operations after its founder and CEO, Rick Knight—known as "Uncle Rick" in the trading community—suffered a severe cardiac emergency. The CEO's health complications, reportedly including a heart attack, required multiple surgeries and have forced the firm to pause its activities indefinitely. Trading Accounts Frozen Indefinitely In an official statement shared on its Discord channel, the company assured clients: “All accounts will be paused exactly where they are. No progress will be lost, and we will ensure everything resumes seamlessly when we return.” Despite these assurances, no timeline has been provided for the resumption of operations, with the duration depending on Rick Knight’s recovery. Trading activities across all accounts remain halted as of December 17, 2024 . Client Concerns About Business Continuity Axe Trader’s decision to suspend operations has raised concerns...

  Bitget’s native token, BGB , surged 11% to set a new all-time high of $3.65 , fueled by Bitget securing a Bitcoin Service Provider (BSP) License in El Salvador . This milestone marks a significant step for the cryptocurrency exchange's global expansion, strengthening bullish sentiment around BGB. Bullish Indicators Signal Uptrend Weighted Sentiment Turns Positive : Market data from Santiment shows BGB’s weighted sentiment crossed above the zero line on December 16 , signaling a positive tone across social media and online platforms. Currently, the sentiment value stands at 0.33 , reflecting increased positive discussions around the altcoin. Elder-Ray Index Confirms Bullish Bias : The Elder-Ray Index, which measures the balance between buying and selling pressure, sits at 1.23 , indicating that buying pressure currently dominates, further supporting a bullish outlook. Price Prediction: BGB Targets $4, but Caution Remains At the time of writing, BGB trades near $3.60 , just be...

  Spotware, the renowned trading technology provider behind the cTrader platform, has launched the cTrader Store —a dynamic marketplace designed to revolutionize how trading algorithms and tools are bought, sold, and distributed. This new platform provides algo creators with a seamless way to monetize their trading robots, plugins, indicators, and Open API apps, while giving traders access to high-quality algo tools on a global scale. cTrader Store: Transforming Algorithmic Trading The cTrader Store connects over 8 million cTrader users with algo developers, offering unprecedented opportunities for creators to showcase and sell their products. By leveraging Spotware’s ecosystem, developers gain access to a secure, scalable platform with integrated features such as: Secure Transactions : The marketplace employs a trusted payment system to ensure 100% safe transactions, adhering to high standards of privacy and protection. Built-In Licensing : Automatic licensing controls prevent un...

  Saxo Bank, the multi-asset investment specialist, has announced upcoming changes to its lineup of trading instruments. As part of these changes, the Japan 225 Index CFD will be discontinued. The company has informed its white-label partners (WLs) about this decision, allowing them time to manage their clients' existing positions. Traders can reduce their current exposure to this product until February 28, 2025. On this date, any remaining open positions will be closed automatically by Saxo. For WLs looking to offer alternatives, expiring CFDs such as "JP225DEC24" or "JP225MAR25" can be made available. However, Saxo has clarified that redistributing the underlying price data for these expiring CFDs requires a direct license agreement with the Singapore Exchange (SGX). Partners who do not already hold an SGX license will need to enter into an agreement directly with SGX. This strategic adjustment is part of Saxo’s efforts to streamline its offerings and comply w...