LBank at 10: Czhang Lin. Photo by BeInCrypto As LBank celebrates its 10th anniversary, the global crypto exchange powerhouse is doubling down on its vision for Web3 innovation with the launch of a $1 billion Talent Program. Known as the "100x Gems Hub," LBank has built a reputation for spotting high-potential early-stage projects and fostering a global ecosystem, consistently staying ahead of industry trends. In this exclusive interview conducted by BeinCrypto, Czhang Lin, LBank Partner and Head of LBank ...

The crypto exchange just made its eighth acquisition of 2025. ...

Core Insights - Liquidity integrations are essential for the success and performance of OTC crypto exchanges, enabling seamless order execution and stable pricing [2][26] - High liquidity is crucial for efficient trading, leading to instant trade execution, tighter bid-ask spreads, reduced volatility, and improved market confidence [4][11] Understanding Liquidity - Liquidity measures the ease of buying or selling assets without significant price changes, with high liquidity translating to better trading conditions [3] - Insufficient liquidity can lead to delays, poor price discovery, and user frustration [3] Importance of Liquidity in OTC Crypto Exchange Development - In OTC trading, liquidity is essential for executing large-volume transactions privately [7] - Integrating multiple liquidity sources ensures reliability and consistency, attracting institutional clients [8] Enhancements from Liquidity Integrations - Instant order execution is achieved through API aggregation, smart order routing, and cross-exchange connectivity [10] - Balanced price discovery is facilitated by aggregating price data from multiple sources, reducing arbitrage gaps [13] - Increased trading volume results from a liquid market attracting more traders, creating a self-sustaining cycle [14] - Enhanced platform credibility is established through consistent liquidity, which signals professionalism [15] - Market stability during volatility is improved, reducing drastic price swings and building user trust [16] Strategic Ways to Integrate Liquidity - Partnering with reliable liquidity providers ensures steady access to trading pairs [17] - Utilizing hybrid liquidity models combines centralized and decentralized sources for flexibility [18] - Implementing smart order routing enhances execution efficiency [19] - Enabling market-making mechanisms keeps the order book active [20] - Leveraging APIs for real-time updates improves trade accuracy [21] Emerging Innovations in Liquidity Integration - Innovations such as cross-chain liquidity bridges and AI-powered aggregation are shaping the future of crypto exchanges [22][27] Best Practices for Sustainable Liquidity Growth - Maintaining multi-provider partnerships and offering incentives for liquidity providers are key practices [28] - Regular audits and regulatory compliance are essential for ensuring fairness and security [28]

Core Insights - Hyperliquid, a decentralized exchange with around 11 employees and no external investors, has rapidly emerged as a major player in the cryptocurrency market, achieving a daily trading volume exceeding $13 billion and an annualized revenue of over $1 billion [1][2] - The platform gained attention during a recent market downturn, processing over $10 billion in forced liquidation trades, raising concerns about potential insider trading due to coincidental large short positions taken just before significant market movements [1][6] Company Overview - Founded by Jeff Yan, a Harvard graduate with a strong technical background, Hyperliquid operates without a board of directors or external investors, allowing for focused decision-making and innovation [3][4] - The platform has rejected traditional venture capital funding, instead opting to self-fund through the issuance of its HYPE token, which has seen its price surge from $3.90 to $38, resulting in a market capitalization of approximately $10 billion [4][6] Trading Features - Hyperliquid's appeal lies in its provision of anonymity and high leverage, primarily through perpetual contracts, which are not available on compliant platforms in the U.S. [6] - The platform's structure allows it to operate without user identity verification, attracting traders seeking privacy [6] Market Impact - The recent market volatility highlighted the risks associated with high leverage, as the cryptocurrency sector experienced its largest liquidation event, totaling at least $19 billion, with Hyperliquid accounting for over $10 billion of that amount [6] - The lack of regulation and limited recourse for users in the event of forced liquidations raises concerns about the platform's operational risks [6] Future Aspirations - Jeff Yan envisions Hyperliquid evolving into a comprehensive trading platform that accommodates various financial products beyond cryptocurrencies, aiming to become a "universal exchange" [7] - Recent developments include the introduction of perpetual contracts for traditional financial instruments, indicating a shift towards integrating traditional finance with cryptocurrency trading [7]

Group 1 - The Hecht Commodity Report is a comprehensive source for commodities market analysis, covering over 29 different commodities with various trading recommendations [1][2] - As of October 20, 2025, the total market capitalization of the cryptocurrency asset class reached $3.73 trillion, with Bitcoin and Ethereum representing 71.9% of this value [2] - There are approximately 10,000 to 11,000 cryptocurrencies that trade actively, indicating a vast and diverse market despite the dominance of Bitcoin and Ethereum [2] Group 2 - The author of the report actively participates in commodities markets through futures, options, ETFs, ETNs, and commodity equities, with positions that can change intraday [3]

Core Insights - Roman Storm, co-founder of Tornado Cash, was convicted for operating an unlicensed money-transmitting business, marking a significant moment in the fight against crypto money laundering [1] - Regulators have historically viewed mixers like Tornado Cash as major money laundering threats, but data suggests that centralized exchanges are the primary facilitators of crypto money laundering [2][3] Centralized Exchanges as Laundering Hubs - Centralized exchanges are identified as the main platforms for laundering illicit crypto funds, with a 2025 Chainalysis report indicating that most illicit funds were routed through these exchanges in 2024 [5] - Criminals prefer centralized exchanges due to their liquidity, speed, and global reach, which allow for the conversion of dirty crypto into cash [6] - Compliance programs at centralized exchanges are often under-resourced and poorly enforced, leading to illicit transactions being overlooked [6] Enforcement and Compliance Issues - High-profile cases, such as the U.S. Justice Department's settlement with Binance, have highlighted systemic issues within centralized exchanges, including their involvement in transactions related to ransomware and darknet markets [7] - Binance has increased its compliance spending to $213 million in 2023 following these revelations [7] - BitMEX faced a $100 million fine for violations of the Bank Secrecy Act, with its founders later receiving pardons [7]

In 2010, Brian Armstrong encountered the Bitcoin white paper authored by the pseudonymous creator Satoshi Nakamoto. | Credit: Anthony Harvey/ Stringer/Getty Images Key Takeaways Brian Armstrong, the CEO and co-founder of Coinbase, has amassed a huge net worth during his career. Since its founding in 2012, Coinbase has evolved from a startup to the largest crypto exchange in the U.S. The re-election of Donald Trump and his pro-deregulation stance has created a favorable environment to grow Armstrong’s ...

berachain airdrop. Photo by BeInCrypto HTX announced the launch of its "Sail Together" initiative, distributing $100 million in USDT to traders affected by the October 11 market downturn that triggered liquidations exceeding $19 billion across crypto markets. The compensation program, running through November 15, targets users who sustained verified losses during the sharp price decline and aims to address the impact on the exchange's global user base. Market Context and Broader Implications The progra ...

Core Insights - France is conducting anti-money laundering inspections on multiple crypto exchanges, including Binance and Coinhouse, as part of the process to determine which entities will receive EU-wide operating permits under the Markets in Crypto-Assets (MiCA) regulation [1][2] - The French prudential supervision authority, ACPR, has been performing on-site controls since late 2024, with specific instructions for Binance to enhance its risk controls during the examination [1][2] - Companies have until June 2026 to secure their licenses, with only a few entities, including Deblock, GOin, Bitstack, and CACEIS, having received approval so far [3] Regulatory Context - The inspections are part of a broader effort by France, Austria, and Italy to urge the EU's top markets watchdog to directly supervise major crypto companies and tighten regulations due to identified disparities in implementation across the EU [3] - Compliance checks verify adherence to conditions for PSAN registration, focusing on anti-money laundering and counter-terrorist financing controls [2] Binance's Operational Adjustments - Following a restructuring in May 2024, Binance replaced co-founder Changpeng Zhao with new shareholders to comply with French regulations that prohibit majority shareholders with criminal records [4][5] - The restructuring is part of a global project aimed at aligning with regulatory standards, as MiCA allows companies to operate across EU countries [5] Compliance Requirements - Typical demands from ACPR after inspections include hiring additional compliance staff and enhancing IT security systems, with companies given several months to comply [6] - Information collected by ACPR is shared with France's Financial Markets Authority (AMF), which is responsible for granting MiCA agreements [6]

Core Insights - South Korea's Financial Intelligence Unit has approved Binance's acquisition of a majority stake in GOPAX, allowing Binance to re-enter the Korean market after a two-year regulatory delay [1][4] - The approval enables Binance to take control of GOPAX, resume operations in Korea, and fulfill repayment commitments to users [1][3] - GOPAX is collaborating with Binance to enhance management stability and address issues stemming from the collapse of its GOFi lending product [2][3] Regulatory Context - The approval process for GOPAX's leadership changes had been pending since March 2023, primarily due to concerns regarding Binance's compliance history and the legal issues faced by its founder, Changpeng Zhao [4][5] - Korean regulators evaluated Binance's compliance with fitness standards for controlling a licensed exchange, indicating that past issues have been addressed [6][7] Market Dynamics - Binance's entry into the Korean market is expected to bring liquidity, technology, and cost advantages, although it will face competition from established local exchanges, Upbit and Bithumb, which hold approximately 72% and 24% of the market, respectively [5] - Analysts suggest that the regulatory approval signifies closure rather than disruption, with structural limitations likely to restrict Binance's immediate market impact [6]