Latest Crypto Exchange News and Insights | Yellow.com

The FBI has issued a stark warning about a new crypto scam. Fraudsters are posing as exchange employees to steal funds. They're getting pretty crafty with their tactics. Scammers are reaching out via calls or messages. They claim to be from crypto exchanges. Their story? There's an issue with the user's account. Or someone's trying to hack it. These con artists are good at creating panic. They push users to act fast to "protect" their accounts. It's all a ruse, of course. The endgame is to get access codes or personal info. Once they have these, they can break into accounts. Then they make off with the digital loot. The FBI's advice is simple: don't engage. Even if the call seems legit, just hang up. It's better to be safe than sorry. Instead, users should call the exchange's official number. This way, they can verify if there's a real problem. The FBI stresses not to use any number the caller provides. The agency also warns against clicking links or visiting websites sent by these callers. It's a no-go for sharing login details or downloading files too. If you've been scammed, the FBI wants to know. They're urging victims to report through official channels. Any transaction info related to the scam is helpful. But wait, there's more. The FBI's also flagged another scam trend. This one's about fake remote jobs. It's a double whammy for crypto enthusiasts. Scammers are advertising bogus work-from-home gigs. They use a fake interface to trick users into thinking they're earning money. Then they ask for crypto payments to "unlock" more opportunities. Spoiler alert: the earnings aren't real, and the crypto goes straight to the scammers' pockets.

M2, a crypto exchange, has rolled out a new feature for UAE residents. It's a game-changer. Users can now buy and sell Bitcoin and Ether using their bank accounts. The integration allows direct conversion of dirhams to crypto. It's a big deal. Users can trade BTC and ETH for dirhams and vice versa on M2's spot markets. They can also deposit and withdraw dirhams. M2 thinks this move will help users react quickly to market changes. It's all about flexibility. Converting local currency to crypto just got a whole lot easier. The exchange sees this as a milestone for the UAE. It's widening access to virtual assets in the region. M2 is adapting to a fast-changing landscape. Karl Kimmel, an M2 exec, spoke to Cointelegraph about the integration. He reckons it'll be a big help for everyday investors. Especially those who aren't crypto pros. "BTC and ETH are the go-to virtual assets for newbies," Kimmel said. It's all about familiarity and high trading volumes. The UAE government is keeping a close eye on things. Kimmel calls their regulatory framework one of the world's strictest. Consumer protection is a top priority. The UAE has been upping its game in crypto consumer protection. In 2022, Dubai's Virtual Asset Regulatory Authority (VARA) cracked down on misleading ads. They wanted more clarity for consumers. Last year, the UAE introduced a new federal law to protect consumers. It's aimed at preventing FTX-like fraud. Violators could face fines of up to 10 million AED ($2.7 million). That's no small change. Kimmel previously praised the ADGM's tough licensing process. It's demanding, but it builds trust. Users can be confident that licensed platforms meet high standards. The UAE continues to be a strategic region for crypto. Tao Xiao, a business consultant, told Cointelegraph that VARA's licensing process can take up to a year. It's a slog, but it shows the region's commitment to market integrity. Despite the challenges, Xiao thinks it's worth the hassle. The perks? Favorable tax policies, global market access, and a safe space for innovation. It's a sweet deal for those willing to jump through the hoops.

Decentralized exchanges (DEXs) are slowly but surely chipping away at the dominance of centralized crypto exchanges. The shift is real. Recent data paints a clear picture. DEX volume has jumped from $133.5 billion in January to $179.5 billion this month. That's a hefty 34% increase. The trend becomes even more apparent when you look at the bigger picture. DEX trading volume as a percentage of total crypto trading volume has surged from 4.6% in February to over 7% this month. Do the math, and you'll see that's a 52% increase in DEX market share. So, what's driving this change? Kunal Goel, a senior research analyst at Messari, points to several factors. "The growth of meme coins and long-tail assets is one reason," Goel told Decrypt. These assets often debut on DEXs before hitting centralized exchanges – if they ever do. He also highlighted improved user experience. "Onchain UX has improved with low fee, high throughput on Solana and Ethereum L2s," Goel noted. The numbers are even more striking in the short term. In the past 24 hours, DEX volume accounted for 22% of all trading volume. That's according to DeFiLlama data. 2024 has seen a steady climb in DEX volume. But it's not been a smooth ride. March saw a massive spike in both CEX and DEX volumes. Goel explained the March anomaly: "Bitcoin hit fresh all-time highs in March and trading activity is typically positively correlated with price and sentiment." Looking ahead, Goel expects centralized exchanges to disrupt their own business model. They'll likely move on-chain before others beat them to it. "Base and BNB Chain are the prominent examples," he added. Interestingly, DeFi market cap dominance has actually dropped this year. It's currently at 3.86%, down from 4.47% on January 1. Goel found this puzzling, noting, "DEX volumes are a key driver for DEX value so it is a little contradictory." For the uninitiated, DeFi stands for decentralized finance. It's a catch-all term for blockchain-based financial tools, including DEXs. The main draw of DeFi and DEXs? They cut out the middleman. Anyone with internet access can lend, borrow, bank, or trade without traditional intermediaries. This accessibility has fueled significant adoption of DeFi and DEXs this year. They've become a major focus for dapp (decentralized application) developers. The crypto landscape is changing, and DEXs are at the forefront. Whether this trend continues remains to be seen, but one thing's for sure – the game is on.

Kraken has landed a major partnership with Tottenham Hotspur. The crypto exchange will become the club's first official cryptocurrency and Web3 partner. This deal marks a significant step in bringing crypto to mainstream sports. The partnership kicks off before the 2024/25 season. Kraken's logo will grace the sleeves of both men's and women's team jerseys. It's a big win for the crypto firm. Tottenham isn't new to the crypto game. They launched their own fan token last year. The SPURS token, created on Socios.com, joined a growing trend in sports. Ryan Norys, Tottenham's Chief Revenue Officer, is pumped about the deal. "We're stoked to partner with a forward-thinking brand like Kraken," he said. The club plans to offer fans exciting events and experiences. Kraken isn't just slapping its logo on shirts. They're going all in on fan engagement. Exclusive content, pop-ups, and behind-the-scenes access are all on the cards. It's about getting fans jazzed about crypto. Mayur Gupta, Kraken's CMO, sees a natural fit. "Crypto, like football, should be for everyone," he stated. The goal? Make finance more accessible to the average fan. But wait, there's more. Kraken's also teaming up with F1 Drive London at Tottenham's stadium. They're mixing crypto, football, and fast cars. Talk about a hat-trick. Kraken's no newbie in the UK. They've got a solid presence with 350 local team members. Globally, they serve over 13 million clients. That's no small potatoes. This deal isn't happening in a vacuum. Crypto's been making waves in sports. Just look at Cristiano Ronaldo's recent NFT collection with Binance. It's a whole new ballgame. Meanwhile, Kraken's got its eye on the bigger picture. They're planning a $100 million funding round before a potential 2025 IPO. It's crunch time for the crypto exchange.

Kraken is considering nuclear energy to power its data centers. The move comes amid expected growth in decentralized finance (DeFi) and increased demand for its services. Vishnu Patankar, Kraken's chief technical officer, revealed this in an exclusive interview with CoinDesk. The company is not planning to build its own reactors. Instead, it's exploring partnerships with energy providers using small modular reactors (SMRs). SMRs can be co-located with data centers. They aren't constrained by space or weather conditions. "With institutions moving into the crypto asset class and activity moving on-chain, the need for reliable fiat onramps continues to grow," Patankar said. He emphasized the importance of energy resiliency for supporting crypto ecosystem growth. The crypto exchange aims to secure its energy supply. This is in response to surging demand from artificial intelligence (AI) and high performance computing (HPC) firms. These sectors are altering the power stability landscape. Kraken is investigating nuclear power options in North America and Europe. Patankar noted the constant energy demand due to crypto's round-the-clock, global nature. The company's exploration aligns with a broader trend. More tech companies are seeking deals with nuclear operators to power AI-focused data centers. This was reported by The Wall Street Journal on Tuesday. Some bitcoin miners are shifting focus. They're now supplying infrastructure for power-hungry AI companies. Core Scientific recently signed a deal with AI firm CoreWeave. Patankar highlighted the potential benefits of nuclear backup. It would allow Kraken to operate during major disruptions to local energy supply. This redundancy protects the firm's ability to offer continuous services globally. The CTO anticipates a significant boom in DeFi. This could exponentially increase Kraken's energy needs in the future. While a final decision is pending, nuclear power is under serious consideration. Patankar cited limitations of alternatives like wind and solar, which are weather-dependent.