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The Recent BitMEX Scandal and Zeabit as The Better Exchange Alternative

Published

4 years ago

on

If you have been keeping up with the crypto news, you have heard of the BitMEX scandal. If you are yet to hear about the scandal, then you are reading the right article.

The BitMEX Scandal

The Federal government recently filed civil and criminal charges against BitMEX and four of its top executives.

  1. The U.S CFTC filed civil charges against BitMEX and its affiliates claiming that the company operated an unregistered trading platform. It was also accused of failing to implement anti-money laundering controls such as checking the identities of the service traders.
  2. The New York federal prosecutors filed parallel criminal charges against BitMEX CEO Arthur Hayes, co-founder Benjamin Dalo, Chief technology officer Samuel Reed, and Gregory Dwyer who is the head of business development.
  3. Similarly, the government alleged that the executives had failed to establish anti-money laundering practices like collecting user identity information and reporting suspicious transactions, required under the Bank Secrecy Act. According to prosecutors, the charges are punishable by up to five years in prison.

The charges which immediately disrupted a key component of the global cryptocurrency market sent most cryptocurrencies into an immediate selloff.

Within two hours of becoming public, the price of Bitcoin dropped more than 3%.

BitMEX founders are stepping down from their executive roles following the exchange being charged with illegal conduct.  Last Thursday, 100x announced that founders Arthur Hayes and Samuel Reed stepped back from all executive management responsibilities for their respective CEO and CTO roles with immediate effect. Vivien Khoo, currently a chief operating officer of 100x Group, will become Interim CEO, while Ben Radclyffe, commercial director, will take on a supporting role with greater management of client relationships and oversight of financial products.

The scandal has had a serious effect on the platform. Not only has it led to huge losses, but it has also caused many of the investors to move to other exchange platforms because of the lack of trust.

Zeabit as The Better Exchange Option

With one of the biggest exchange platforms being in such a mess, it is only natural for crypto investors to look for alternative exchange platforms. People are beginning to explore exchanges they had overlooked before and the remaining part of this article introduces an outstanding exchange platform.

Zeabit I an exchange platform that allows quick and secure at the best rates on the market.

  1. Some of the coins supported by the platform include:
  • Bitcoin
  • Litecoin
  • Dashcoin
  • Qturn
  • Ethereum
  • Tether
  • Bitcoin Cash
  • Monero
  1. Getting started

It is very easy to get started on Zeabit, you follow three simple steps that will only take you a couple of minutes. The steps are as follows:

  1. Create an account
  2. Deposit your funds
  3. Start buying and selling
  4. Benefits of trading on Zeabit
  5. Secure storage – a vast majority of their digital assets are stored in secure offline storage
  6. Protected by insurance – All cryptocurrencies stored on their servers are stored by their insurance policy
  7. Extensive support – they support many of the popular digital currencies.
  8. Portfolio features

Create your Zeabit portfolio today and enjoy some of the following outstanding features.

  • Trading and managing several cryptocurrencies on a central platform
  • Determining the frequency and details of all purchases
  • Extremely high-security levels – your funds are stored in a vault with time delayed withdrawals
  • 100% compatibility with all types of devices and browsers

Conclusion

When it comes to crypto trading, customer safety and security are non-negotiable. Zeabit gives you 100% responsiveness, accessibility from and browser, and saves you the installation hustle. To check zeabit just acess zeabit.com

This is a Paid Press Release.

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Press Release

NOWPayments Introduces New Payment Widget as a New Year Gift for Merchants

Published

5 days ago

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January 10, 2025

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As we step into 2025, NOWPayments is thrilled to unveil its latest innovation – the Payment Widget. Think of it as our special New Year’s gift to merchants across the globe, designed to revolutionize how businesses accept cryptocurrency payments.

So, what sets the Payment Widget apart from traditional APIs? 

  1. It’s simple! Unlike APIs, which may require more advanced technical expertise, this widget is incredibly easy to integrate – just a few lines of code, and you’re ready to go. No complex setups, no hassles. It’s the ideal solution for small e-commerce stores, presales, and anyone looking for a lightweight, user-friendly way to accept crypto.
  2. It’s suitable for everyone! The widget is perfect for small businesses that want to introduce a crypto payment option with minimum resources spent. Whether you’re running an independent online shop or a startup, this tool brings crypto adoption to your doorstep without any heavy lifting.

What makes the Payment Widget a game-changer?

  1. Ease of Use: no need for complex integrations, it requires minimal technical skills.
  2. Smooth Customer Experience: Payments happen directly on your website – no redirects, no interruptions.
  3. Support for 300+ Cryptocurrencies with auto conversion: From Bitcoin and Ethereum to stablecoins, flexibility is key.
  4. Tailored for All Industries: Small businesses, niche e-commerce shops, and presales campaigns – can all benefit.

Getting started is a breeze! With just a few clicks, you can enable crypto payments on your website and offer your customers a streamlined checkout experience. At NOWPayments, we’re all about making crypto adoption effortless, and the Payment Widget is another step in that direction.
Make 2025 the year you elevate your business with crypto payments! For details, visit our Payment Widget Guide and start simplifying transactions today.

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MAGAcoin and JAECOIN, a new trend and instability created by the combination of politics and cryptocurrencies”

Published

6 days ago

on

January 9, 2025

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MAGAcoin and JAECOIN have created a new investment trend by combining politics and cryptocurrency. MAGAcoin was based on former US President Donald Trump’s political message “Make America Great Again,” while JAECOIN gained attention as a meme coin linked to candidate Lee Jae-myung’s digital economy platform. Both coins exploded in popularity by combining political events and popular sentiment, but in the process exposed themselves to extreme volatility and instability.

MAGA has seen its value rise and fall in response to Trump’s comments and political events. When Trump made pro-crypto comments, MAGAcoin saw more than 1000% increase in one-day trading volume, but after his guilty verdict in a sex scandal trial, MAGAcoin plummeted, causing investors to lose a lot of money. This highlights the problem that the price of political meme coins is overly dependent on the risk of a particular person.

JAECOIN was buoyed by Lee Jae-myung’s promise of digital transformation and support from the younger generation, especially as his popularity grew, but it also had the potential to be unstable if the political situation turned unfavorable. This shows that Memecoin can be overly sensitive to political events, which can undermine market confidence.

Political memecoins have expanded the cryptocurrency market beyond mere fun to new political and economic platforms, but they also present structural problems of extreme price volatility and speculation. Experts warn that while these memecoins can provide short-term returns and excitement for investors, their inherently unstable nature makes it difficult to build long-term trust. The cases of MAGAcoin and JAECOIN have shown that cryptocurrencies can be a powerful tool for political messaging, but they also warn of the dangers of potential market crashes.

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Press Release

CKB Eco Fund Joins Hong Kong Web3 Festival 2025 as Platinum Sponsor

Published

1 week ago

on

January 7, 2025

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The CKB Eco Fund, a leading force in Bitcoin-isomorphic innovation, will participate as a Platinum Sponsor at the Hong Kong Web3 Festival 2025. This annual gathering is one of Asia’s premier Web3 events, bringing together industry leaders, entrepreneurs, and developers to explore the future of blockchain and decentralized technologies. By joining the grand industry summit, the CKB Eco Fund reaffirms its commitment to fostering innovation and solidifying its leadership in the Asian blockchain ecosystem.

As the emerging driving force behind Nervos CKB, a cutting-edge BTC-isomorphic public blockchain (PoW+UTXO), the CKB Eco Fund is actively supporting pioneering projects that are revolutionizing the Bitcoin ecosystem. These include: Fiber Network, a programmable Lightning implementation supporting multiple assets including BTC, UTXO Stack, which solves Lightning Network’s liquidity challenges through innovative staking mechanisms, and RGB++, which enables native programmability and seamless interoperability across all UTXO-based chains. These complementary innovations work together to enhance Bitcoin’s scalability while preserving its security foundations. At the Web3 Festival, the CKB Eco Fund aims to engage with developers, share insights on the cutting-edge Bitcoin innovations, and further expand its impact across the global Web3 community.

The Fund’s ongoing efforts to support the Bitcoin ecosystem have already made a significant impact, particularly in Asia, where its projects have catalyzed the development of a stronger, interconnected blockchain landscape. Through strategic collaborations with developers, communities, and enthusiasts, the CKB Eco Fund has consistently worked towards enhancing Bitcoin’s role in the broader Web3 space.

At this year’s event, the CKB Eco Fund will co-host the Bitcoin Stage on Day 2 afternoon, following last year’s success. The stage will feature prominent voices from the Bitcoin and Web3 ecosystems, discussing innovations, best practices, and the challenges ahead for the industry. The conversations and knowledge exchange on the Bitcoin Stage will create an invaluable opportunity for attendees to deepen their understanding of the latest technological trends.

In addition, the CKB Eco Fund will showcase its ecosystem at a dedicated booth, featuring groundbreaking projects like UTXO Stack and Nervape. Attendees are invited to explore these initiatives, meet the teams, and discuss potential collaborations that could drive the next wave of innovation within the Bitcoin and CKB ecosystems.

The Hong Kong Web3 Festival, organized by Wanxiang and Hashkey Group, stands as a landmark event for the global Web3 community. By participating in this prestigious festival, the CKB Eco Fund will not only contribute to shaping the future of the Web3 industry but also further strengthen its role in supporting the growth of Bitcoin technologies and the broader decentralized economy.

CKB Eco Fund: https://x.com/CKBEcoFund

Hong Kong Web3 Festival 2025: https://www.web3festival.org/hongkong2025/?lang=zh#/en

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