One of the
oldest cryptocurrency exchanges, Bitstamp, plans to rebuild its image and retain its previous position as it seeks
new investors. The information was confirmed by its CEO, Jean-Baptiste
Graftieaux who revealed that the funds would be used to launch derivatives trading in Europe and expand the operations in the UK and Asian markets.
Bitstamp Looks for a
Strategic Investor
In a
conversation with Bloomberg, Graftieaux denied that the platform, which has
been operating for over 12 years, is seeking a buyer. He mentioned that the company is not
for sale, and its management aims to gather additional funding by attracting a
strategic investor. This would accelerate its current growth and introduce new
products and services to an expanding base of institutional and retail
customers. However, fundraising began two months ago, with Galaxy Digital Holdings
participating as an advisor.
It is worth
noting that Bitstamp, based in Europe, was once one of the largest
cryptocurrency exchanges, competing with the now-defunct Mt. Gox. Since then,
the significance of the exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term has diminished, but it still ranks among the
top ten cryptocurrency entities in terms of volume. In the last 24 hours, its turnover has exceeded $133 million. In comparison, the turnover for the top-ranking exchange, Binance, is nearly $7 billion, and for Coinbase, it
is just under $900 million.
Since 2018, NHMH (a European investment company that belongs to
NCX) has assumed ownership of Bitstamp. This year, another crypto company Pantera
decided to sell its minority shares in Bitstamp, which Ripple acquired.
Bitstamp Gains Market
Share in the US
This year, according
to data from Kaiko, Bitstamp's US branch, which holds a BitLicense issued by
New York State, has gained market share locally. Meanwhile, other
popular platforms, such as Binance US, have become less significant, partly due
to regulatory issues and lawsuits.
Based on
June data, Binance US's market share has dropped from 8.2% to just 1.5% due to
the ongoing legal battle with the Securities and Exchange Commission (SEC
Securities and Exchange Commission (SEC)
The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.Wha
The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.Wha
Read this Term).
Coinbase remains the biggest player in the US market, accounting for over 50%
of all transactions.
However,
due to the decline of Binance US, the US branch of Bitstamp, along with other exchanges
like Kraken and LMAX, have begun to see a benefit.
More Exchanges Introducing
Derivatives Trading
As
mentioned above, Bitstamp plans to use the funds raised to expand its European
derivatives trading offerings. This move is not isolated, as more cryptocurrency
exchanges are opting for a similar solution.
FTX
dominated the crypto derivatives market, but the exchange collapsed in November
of the previous year. Other exchanges, including Binance, Coinbase, and Gemini,
have since attempted to capture a portion of that lucrative market segment. For
them, this indirectly addresses regulatory pressures in the US, as
derivative trading is offered through branches registered outside the United
States.
Now, Bitstamp has plans to launch a similar service, but it all depends on whether the
exchange can secure a strategic investor.
One of the
oldest cryptocurrency exchanges, Bitstamp, plans to rebuild its image and retain its previous position as it seeks
new investors. The information was confirmed by its CEO, Jean-Baptiste
Graftieaux who revealed that the funds would be used to launch derivatives trading in Europe and expand the operations in the UK and Asian markets.
Bitstamp Looks for a
Strategic Investor
In a
conversation with Bloomberg, Graftieaux denied that the platform, which has
been operating for over 12 years, is seeking a buyer. He mentioned that the company is not
for sale, and its management aims to gather additional funding by attracting a
strategic investor. This would accelerate its current growth and introduce new
products and services to an expanding base of institutional and retail
customers. However, fundraising began two months ago, with Galaxy Digital Holdings
participating as an advisor.
It is worth
noting that Bitstamp, based in Europe, was once one of the largest
cryptocurrency exchanges, competing with the now-defunct Mt. Gox. Since then,
the significance of the exchange
Exchange
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv
Read this Term has diminished, but it still ranks among the
top ten cryptocurrency entities in terms of volume. In the last 24 hours, its turnover has exceeded $133 million. In comparison, the turnover for the top-ranking exchange, Binance, is nearly $7 billion, and for Coinbase, it
is just under $900 million.
Since 2018, NHMH (a European investment company that belongs to
NCX) has assumed ownership of Bitstamp. This year, another crypto company Pantera
decided to sell its minority shares in Bitstamp, which Ripple acquired.
Bitstamp Gains Market
Share in the US
This year, according
to data from Kaiko, Bitstamp's US branch, which holds a BitLicense issued by
New York State, has gained market share locally. Meanwhile, other
popular platforms, such as Binance US, have become less significant, partly due
to regulatory issues and lawsuits.
Based on
June data, Binance US's market share has dropped from 8.2% to just 1.5% due to
the ongoing legal battle with the Securities and Exchange Commission (SEC
Securities and Exchange Commission (SEC)
The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.Wha
The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, and regulating the US’ stock and options exchanges.As one of the paramount regulatory authorities in the US, the SEC is responsible for the oversight of public companies in the aforementioned segments.Wha
Read this Term).
Coinbase remains the biggest player in the US market, accounting for over 50%
of all transactions.
However,
due to the decline of Binance US, the US branch of Bitstamp, along with other exchanges
like Kraken and LMAX, have begun to see a benefit.
More Exchanges Introducing
Derivatives Trading
As
mentioned above, Bitstamp plans to use the funds raised to expand its European
derivatives trading offerings. This move is not isolated, as more cryptocurrency
exchanges are opting for a similar solution.
FTX
dominated the crypto derivatives market, but the exchange collapsed in November
of the previous year. Other exchanges, including Binance, Coinbase, and Gemini,
have since attempted to capture a portion of that lucrative market segment. For
them, this indirectly addresses regulatory pressures in the US, as
derivative trading is offered through branches registered outside the United
States.
Now, Bitstamp has plans to launch a similar service, but it all depends on whether the
exchange can secure a strategic investor.
