Binance Shows Greater Net Flows Resilience, Capital is Flowing Out of US into Asia, OKX Applies for Hong Kong VATP License

Photo of author

By BitcoinWiki News

Key Takeaways:

– Binance saw outflows of close to $1 billion in BTC within one hour during the FTX crisis
– Binance also saw outflows across major assets (BTC, ETH, USDT, USDC) – an aggregated ~$800m of outflows across specified assets
– CoinFund hired a senior liquid analyst in Hong Kong, aiming to expand in Asia
– OKX applied for a virtual asset trading platform (VATP) license under its Hong Kong branch
– BingX announced a rebranding initiative to make the trading experience more intuitive and user-friendly
– Phoenix’s oversubscribed $370 million IPO on the Abu Dhabi Stock Exchange indicates growing enthusiasm for bitcoin mining in the region
– Avant Arte announced a collaboration with NFT artist Erick Calderon to release the first fine-art limited edition print from his Chromie Squiggles series


1. Binance Resilience: Despite FTX crisis, Binance shows greater resilience in net flows, experiencing outflows but indicating market’s perception of risk and reducing counterparty risk.

2. Expansion in Asia: CoinFund hires senior analyst in Hong Kong, aiming to expand in Asia where there is an increase in crypto trading and entrepreneurship.

3. OKX and PantherTrade: OKX applies for a virtual asset trading platform license in Hong Kong, becoming the first major industry player to do so under a new legal regime. PantherTrade, an exchange with ties to Futu Holdings, also submitted its application.

4. BingX Rebranding: BingX announces a rebranding initiative to make the trading experience more intuitive and user-friendly, focusing on a cleaner and more direct aesthetic.

5. Dubai-Based Bitcoin Mining Company IPO: Phoenix’s oversubscribed $370 million IPO on the Abu Dhabi Stock Exchange signals a growing interest in bitcoin mining in the region, with an emphasis on hardware sales.

6. Collaboration with NFT Artist: Avant Arte collaborates with generative, NFT artist Erick Calderon to release the first fine-art limited edition print from his Chromie Squiggles series, available for a limited time.

This is sponsored by: Learn Bitcoin Option

Leave a Comment