Genesis Trading Volume Grew by 50% Over the Year

As reported, in 2018, the volume of OTC transactions on Genesis increased by 50%
11 January 2019   564

According to representatives of the New York over-the-counter trader Genesis Global Trading, despite the long bear market, the company "has grown significantly." This is reported by The Block.

The letter to customers states that in 2018, the volume of OTC transactions on Genesis increased by 50%. In addition, in less than a year, the volume of cryptocurrency loans issued to institutional clients amounted to $ 1 billion.

Genesis Global Trading is a SEC and FINRA registered broker and is part of the business empire of Barry Silbert and his Digital Currency Group. Last May, it received a BitLicense, which allows it to operate in New York State.

The company began issuing loans in Bitcoin, Ethereum, XRP, Bitcoin Cash and other currencies in March last year. Borrowers, which include hedge funds and other financial institutions, use these funds to play to lower the price of digital currencies, as well as to hedge investment positions.

Binance to Open London Office

According to the Changpeng, the decision to open an office in the UK is dictated by regulations recently introduced by the UK FCA, which is "very positive"
08 August 2019   219

Binance Cryptocurrency Exchange intends to open a new office in London in the near future. This was stated by the head of the company Changpen Zhao in a conversation with CoinDesk.

According to the head of the popular exchange, the decision to open an office in the UK is dictated by regulations recently introduced by the UK Financial Regulatory and Supervisory Authority (FCA), which Zhao called "very positive."

I hope we can open an office in London very soon. There is more regulatory certainty now which is good. I thought the U.K. regulation was very neutral and very positive; they were a little bit strict on the derivatives part which I hope they will be more flexible about.
 

Changpeng Zhao

CEO, Binance

Binance's European expansion began last year. So, first the exchange opened a division in Malta, and then on the island of Jersey.