While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
While Bank of America and Wells Fargo lead the charge in offering spot Bitcoin ETFs, Vanguard, the largest provider of mutual funds, has chosen not to participate in this trend, signaling divergent strategies among financial institutions regarding cryptocurrency integration.<\/p>\n","post_title":"Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-etfs-hit-mainstream-bofas-merrill-wells-fargo-now-offer-spot-trading","to_ping":"","pinged":"","post_modified":"2024-03-03 20:55:50","post_modified_gmt":"2024-03-03 09:55:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15723","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15632,"post_author":"21","post_date":"2024-02-29 22:49:28","post_date_gmt":"2024-02-29 11:49:28","post_content":"\n Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Analysts are bullish on Bitcoin's prospects, citing unprecedented institutional adoption as a catalyst for its potential ascent. This optimism is supported by recent market dynamics, with Bitcoin surpassing the $60,000 mark for the first time in over two years, signaling renewed investor confidence and interest in the cryptocurrency space.<\/p>\n\n\n\n While Bank of America and Wells Fargo lead the charge in offering spot Bitcoin ETFs, Vanguard, the largest provider of mutual funds, has chosen not to participate in this trend, signaling divergent strategies among financial institutions regarding cryptocurrency integration.<\/p>\n","post_title":"Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-etfs-hit-mainstream-bofas-merrill-wells-fargo-now-offer-spot-trading","to_ping":"","pinged":"","post_modified":"2024-03-03 20:55:50","post_modified_gmt":"2024-03-03 09:55:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15723","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15632,"post_author":"21","post_date":"2024-02-29 22:49:28","post_date_gmt":"2024-02-29 11:49:28","post_content":"\n Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Bitcoin's emergence as the \"digital gold\" has played a pivotal role in this shift, reflecting the evolving preferences of investors seeking alternative stores of value in a digital age.<\/p>\n\n\n\n Analysts are bullish on Bitcoin's prospects, citing unprecedented institutional adoption as a catalyst for its potential ascent. This optimism is supported by recent market dynamics, with Bitcoin surpassing the $60,000 mark for the first time in over two years, signaling renewed investor confidence and interest in the cryptocurrency space.<\/p>\n\n\n\n While Bank of America and Wells Fargo lead the charge in offering spot Bitcoin ETFs, Vanguard, the largest provider of mutual funds, has chosen not to participate in this trend, signaling divergent strategies among financial institutions regarding cryptocurrency integration.<\/p>\n","post_title":"Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-etfs-hit-mainstream-bofas-merrill-wells-fargo-now-offer-spot-trading","to_ping":"","pinged":"","post_modified":"2024-03-03 20:55:50","post_modified_gmt":"2024-03-03 09:55:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15723","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15632,"post_author":"21","post_date":"2024-02-29 22:49:28","post_date_gmt":"2024-02-29 11:49:28","post_content":"\n Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The growing popularity of spot Bitcoin ETFs<\/a> has prompted investors to reevaluate their portfolios, with some opting to transition from traditional assets like gold-backed ETFs to cryptocurrency-based investments.<\/p>\n\n\n\n Bitcoin's emergence as the \"digital gold\" has played a pivotal role in this shift, reflecting the evolving preferences of investors seeking alternative stores of value in a digital age.<\/p>\n\n\n\n Analysts are bullish on Bitcoin's prospects, citing unprecedented institutional adoption as a catalyst for its potential ascent. This optimism is supported by recent market dynamics, with Bitcoin surpassing the $60,000 mark for the first time in over two years, signaling renewed investor confidence and interest in the cryptocurrency space.<\/p>\n\n\n\n While Bank of America and Wells Fargo lead the charge in offering spot Bitcoin ETFs, Vanguard, the largest provider of mutual funds, has chosen not to participate in this trend, signaling divergent strategies among financial institutions regarding cryptocurrency integration.<\/p>\n","post_title":"Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-etfs-hit-mainstream-bofas-merrill-wells-fargo-now-offer-spot-trading","to_ping":"","pinged":"","post_modified":"2024-03-03 20:55:50","post_modified_gmt":"2024-03-03 09:55:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15723","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15632,"post_author":"21","post_date":"2024-02-29 22:49:28","post_date_gmt":"2024-02-29 11:49:28","post_content":"\n Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
The growing popularity of spot Bitcoin ETFs<\/a> has prompted investors to reevaluate their portfolios, with some opting to transition from traditional assets like gold-backed ETFs to cryptocurrency-based investments.<\/p>\n\n\n\n Bitcoin's emergence as the \"digital gold\" has played a pivotal role in this shift, reflecting the evolving preferences of investors seeking alternative stores of value in a digital age.<\/p>\n\n\n\n Analysts are bullish on Bitcoin's prospects, citing unprecedented institutional adoption as a catalyst for its potential ascent. This optimism is supported by recent market dynamics, with Bitcoin surpassing the $60,000 mark for the first time in over two years, signaling renewed investor confidence and interest in the cryptocurrency space.<\/p>\n\n\n\n While Bank of America and Wells Fargo lead the charge in offering spot Bitcoin ETFs, Vanguard, the largest provider of mutual funds, has chosen not to participate in this trend, signaling divergent strategies among financial institutions regarding cryptocurrency integration.<\/p>\n","post_title":"Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-etfs-hit-mainstream-bofas-merrill-wells-fargo-now-offer-spot-trading","to_ping":"","pinged":"","post_modified":"2024-03-03 20:55:50","post_modified_gmt":"2024-03-03 09:55:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15723","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15632,"post_author":"21","post_date":"2024-02-29 22:49:28","post_date_gmt":"2024-02-29 11:49:28","post_content":"\n Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
See Related:<\/em><\/strong> How To Create Wealth With Web3<\/a><\/p>\n\n\n\n The growing popularity of spot Bitcoin ETFs<\/a> has prompted investors to reevaluate their portfolios, with some opting to transition from traditional assets like gold-backed ETFs to cryptocurrency-based investments.<\/p>\n\n\n\n Bitcoin's emergence as the \"digital gold\" has played a pivotal role in this shift, reflecting the evolving preferences of investors seeking alternative stores of value in a digital age.<\/p>\n\n\n\n Analysts are bullish on Bitcoin's prospects, citing unprecedented institutional adoption as a catalyst for its potential ascent. This optimism is supported by recent market dynamics, with Bitcoin surpassing the $60,000 mark for the first time in over two years, signaling renewed investor confidence and interest in the cryptocurrency space.<\/p>\n\n\n\n While Bank of America and Wells Fargo lead the charge in offering spot Bitcoin ETFs, Vanguard, the largest provider of mutual funds, has chosen not to participate in this trend, signaling divergent strategies among financial institutions regarding cryptocurrency integration.<\/p>\n","post_title":"Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-etfs-hit-mainstream-bofas-merrill-wells-fargo-now-offer-spot-trading","to_ping":"","pinged":"","post_modified":"2024-03-03 20:55:50","post_modified_gmt":"2024-03-03 09:55:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15723","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15632,"post_author":"21","post_date":"2024-02-29 22:49:28","post_date_gmt":"2024-02-29 11:49:28","post_content":"\n Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Spot bitcoin ETFs, now accessible through Merrill Lynch and Wells Fargo, provide investors with exposure to the world's largest cryptocurrency without the need to directly hold it. The funds debuted in the US following a prolonged battle with the regulators. Recently, 11 such ETFs commenced trading in the United States.<\/p>\n\n\n\n See Related:<\/em><\/strong> How To Create Wealth With Web3<\/a><\/p>\n\n\n\n The growing popularity of spot Bitcoin ETFs<\/a> has prompted investors to reevaluate their portfolios, with some opting to transition from traditional assets like gold-backed ETFs to cryptocurrency-based investments.<\/p>\n\n\n\n Bitcoin's emergence as the \"digital gold\" has played a pivotal role in this shift, reflecting the evolving preferences of investors seeking alternative stores of value in a digital age.<\/p>\n\n\n\n Analysts are bullish on Bitcoin's prospects, citing unprecedented institutional adoption as a catalyst for its potential ascent. This optimism is supported by recent market dynamics, with Bitcoin surpassing the $60,000 mark for the first time in over two years, signaling renewed investor confidence and interest in the cryptocurrency space.<\/p>\n\n\n\n While Bank of America and Wells Fargo lead the charge in offering spot Bitcoin ETFs, Vanguard, the largest provider of mutual funds, has chosen not to participate in this trend, signaling divergent strategies among financial institutions regarding cryptocurrency integration.<\/p>\n","post_title":"Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-etfs-hit-mainstream-bofas-merrill-wells-fargo-now-offer-spot-trading","to_ping":"","pinged":"","post_modified":"2024-03-03 20:55:50","post_modified_gmt":"2024-03-03 09:55:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15723","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15632,"post_author":"21","post_date":"2024-02-29 22:49:28","post_date_gmt":"2024-02-29 11:49:28","post_content":"\n Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
This development highlights the growing interest<\/a> in digital assets among mainstream financial institutions following the recent approval of the funds by the Securities and Exchange Commission (SEC).<\/p>\n\n\n\n Spot bitcoin ETFs, now accessible through Merrill Lynch and Wells Fargo, provide investors with exposure to the world's largest cryptocurrency without the need to directly hold it. The funds debuted in the US following a prolonged battle with the regulators. Recently, 11 such ETFs commenced trading in the United States.<\/p>\n\n\n\n See Related:<\/em><\/strong> How To Create Wealth With Web3<\/a><\/p>\n\n\n\n The growing popularity of spot Bitcoin ETFs<\/a> has prompted investors to reevaluate their portfolios, with some opting to transition from traditional assets like gold-backed ETFs to cryptocurrency-based investments.<\/p>\n\n\n\n Bitcoin's emergence as the \"digital gold\" has played a pivotal role in this shift, reflecting the evolving preferences of investors seeking alternative stores of value in a digital age.<\/p>\n\n\n\n Analysts are bullish on Bitcoin's prospects, citing unprecedented institutional adoption as a catalyst for its potential ascent. This optimism is supported by recent market dynamics, with Bitcoin surpassing the $60,000 mark for the first time in over two years, signaling renewed investor confidence and interest in the cryptocurrency space.<\/p>\n\n\n\n While Bank of America and Wells Fargo lead the charge in offering spot Bitcoin ETFs, Vanguard, the largest provider of mutual funds, has chosen not to participate in this trend, signaling divergent strategies among financial institutions regarding cryptocurrency integration.<\/p>\n","post_title":"Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-etfs-hit-mainstream-bofas-merrill-wells-fargo-now-offer-spot-trading","to_ping":"","pinged":"","post_modified":"2024-03-03 20:55:50","post_modified_gmt":"2024-03-03 09:55:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15723","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15632,"post_author":"21","post_date":"2024-02-29 22:49:28","post_date_gmt":"2024-02-29 11:49:28","post_content":"\n Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Bank of America's Merrill Lynch and Wells Fargo have introduced spot Bitcoin exchange-traded funds (ETFs) to eligible wealth management clients, according to a report by Reuters<\/em>.<\/p>\n\n\n\n This development highlights the growing interest<\/a> in digital assets among mainstream financial institutions following the recent approval of the funds by the Securities and Exchange Commission (SEC).<\/p>\n\n\n\n Spot bitcoin ETFs, now accessible through Merrill Lynch and Wells Fargo, provide investors with exposure to the world's largest cryptocurrency without the need to directly hold it. The funds debuted in the US following a prolonged battle with the regulators. Recently, 11 such ETFs commenced trading in the United States.<\/p>\n\n\n\n See Related:<\/em><\/strong> How To Create Wealth With Web3<\/a><\/p>\n\n\n\n The growing popularity of spot Bitcoin ETFs<\/a> has prompted investors to reevaluate their portfolios, with some opting to transition from traditional assets like gold-backed ETFs to cryptocurrency-based investments.<\/p>\n\n\n\n Bitcoin's emergence as the \"digital gold\" has played a pivotal role in this shift, reflecting the evolving preferences of investors seeking alternative stores of value in a digital age.<\/p>\n\n\n\n Analysts are bullish on Bitcoin's prospects, citing unprecedented institutional adoption as a catalyst for its potential ascent. This optimism is supported by recent market dynamics, with Bitcoin surpassing the $60,000 mark for the first time in over two years, signaling renewed investor confidence and interest in the cryptocurrency space.<\/p>\n\n\n\n While Bank of America and Wells Fargo lead the charge in offering spot Bitcoin ETFs, Vanguard, the largest provider of mutual funds, has chosen not to participate in this trend, signaling divergent strategies among financial institutions regarding cryptocurrency integration.<\/p>\n","post_title":"Bitcoin ETFs Hit Mainstream: BofA\u2019s Merrill, Wells Fargo Now Offer Spot Trading","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitcoin-etfs-hit-mainstream-bofas-merrill-wells-fargo-now-offer-spot-trading","to_ping":"","pinged":"","post_modified":"2024-03-03 20:55:50","post_modified_gmt":"2024-03-03 09:55:50","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15723","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15632,"post_author":"21","post_date":"2024-02-29 22:49:28","post_date_gmt":"2024-02-29 11:49:28","post_content":"\n Users of Hong Kong-based cryptocurrency exchange BitForex are reportedly<\/a> experiencing withdrawal issues. The exchange has not given reasons for stopping the withdrawals, and its team is unresponsive to user requests.<\/p>\n\n\n\n The withdrawal halt happened after three hot wallets of the crypto exchange witnessed outflows of approximately $56.5 million. This comes barely a month after Jason Luo stepped down<\/a> as BitForex CEO after serving six years at the company. The exchange has also not updated its X (formerly Twitter) account since May 2023.<\/p>\n\n\n\n The string of events elicits concerns among troubled customers who haven\u2019t received official communication from the exchange. Some users reported having problems with the accounts, including being unable to enter them into the dashboard. Other users reported being blocked from accessing BitForex\u2019s website.<\/p>\n\n\n\n See Related: <\/em><\/strong>FTX Dumped $1B Holding In Grayscale, Nearly Half Of Outflows After Fund Conversion<\/a><\/p>\n\n\n\n While it is unclear what prompted BitForex to cease withdrawals, the crypto exchange has been under regulatory pressure<\/a>. In April 2023, BitForex was accused of violating Japan\u2019s fund settlement laws. According to Japan\u2019s Financial Services Agency (FSA), the exchange also operated without proper registration.<\/p>\n\n\n\n The troubles are a big blow to an exchange that was once leading by daily trading volumes last year. As of September 2023, the daily trading volume at BitForex was recorded at $2.6 billion. However, a 2019 Chainalysis report claimed<\/a> that the exchange had been faking its trading volumes.<\/p>\n","post_title":"BitForex Stops Withdrawals Without Notice Amid Reported Outflows Of $56.5M","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"bitforex-stops-withdrawals-without-notice-amid-reported-outflows-of-56-5m","to_ping":"","pinged":"","post_modified":"2024-02-29 22:53:21","post_modified_gmt":"2024-02-29 11:53:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15632","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
Illegal Operations in Japan<\/h2>\n\n\n\n
Illegal Operations in Japan<\/h2>\n\n\n\n
Illegal Operations in Japan<\/h2>\n\n\n\n
Illegal Operations in Japan<\/h2>\n\n\n\n
Illegal Operations in Japan<\/h2>\n\n\n\n
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Illegal Operations in Japan<\/h2>\n\n\n\n
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Illegal Operations in Japan<\/h2>\n\n\n\n
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Illegal Operations in Japan<\/h2>\n\n\n\n
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Illegal Operations in Japan<\/h2>\n\n\n\n
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Illegal Operations in Japan<\/h2>\n\n\n\n
Opening Doors to Cryptocurrency Investment<\/h2>\n\n\n\n
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Illegal Operations in Japan<\/h2>\n\n\n\n
Opening Doors to Cryptocurrency Investment<\/h2>\n\n\n\n
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Illegal Operations in Japan<\/h2>\n\n\n\n
Opening Doors to Cryptocurrency Investment<\/h2>\n\n\n\n
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Illegal Operations in Japan<\/h2>\n\n\n\n
Opening Doors to Cryptocurrency Investment<\/h2>\n\n\n\n
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Illegal Operations in Japan<\/h2>\n\n\n\n
Opening Doors to Cryptocurrency Investment<\/h2>\n\n\n\n
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Illegal Operations in Japan<\/h2>\n\n\n\n