CoinFLEX issued an update late last Friday via their blog, notifying the public that CoinFLEX expects to cut costs by as much as 60% – a mix of employee and non-employee cuts. The massive cuts intend to be the ‘right size’ for a potential partnership or acquisition.
Cryptocurrency exchange Vauld, one of the exchanges heavily affected by Three Arrow Capital’s stoopidness, received a three-month extension from the Singapore High Court. We recently covered Nexo’s ($NEXO.X) involvement with Vauld on July 20, 2022, Litepaper. Nexo has an exclusive due diligence period with Vauld to determine whether they want to buy Vauld.
The fallout from Three Arrows Capital (3AC) appears to be settling down – I mean, things are still awful, and companies are still in bankruptcy, but at least there isn’t a stream of constant news reporting ‘company X’ is now gone.’ On a positive note, one exchange is expanding and marking new territory.
Houbi announced today that the Australian Transaction Reports and Analysis Centre (AUSTRAC) approved Huobi’s registration to offer cryptocurrency trading services in Australia. Australia is the latest addition to Houbi’s regions after recently getting licenses in New Zealand and the UAE. 👍