c/crypto-news

Update to my original post A few weeks ago I made a post because my ETH withdrawal got stuck in “Initiating” without a TXID and remained there for weeks. At first I believed it was just a temporary technical issue and that support would eventually solve it, but after weeks of getting nowhere I decided to investigate the exchange myself. For weeks I was trying to understand why my withdrawal wasn’t moving. Support kept asking for patience, tickets received generic responses and Telegram admins eventually stopped replying altogether. The only way to get their attention again was to create a new Telegram account and ask questions publicly inside the official group. Every time I did that, admins suddenly became active again while private messages continued to be ignored. A few days ago I reached the point where I simply couldn’t accept that my funds might be gone, so I started spending time on blockchain explorers trying to understand what was actually happening. During the last two days I began analyzing AscendEX hot wallets across multiple chains: Arbitrum Ethereum BSC Polygon Solana Arkham Multichain hot wallet: 0x983873529f95132BD1812A3B52c98Fb271d2f679 What I found was very concerning. The exchange appears to hold millions of dollars in assets, but most of the value comes from newly listed low-liquidity project tokens such as REUR, ASD, FTRB and other small-cap tokens. AscendEX constantly lists new projects and users deposit USDT, ETH and other liquid assets to buy them, but when users want to withdraw their funds, certain assets and networks appear to become extremely difficult to withdraw. While my ETH withdrawal remained stuck, some of their wallets contained almost no native ETH. At the same time trading activity continued normally and markets remained active. Personally, after monitoring the exchange activity and wallet movements during the last several days, I became convinced that a significant part of the exchange volume is likely generated by market-making bots. Markets remain active, orders continue moving and volume looks healthy even while users struggle to withdraw certain assets. During my research I also discovered another Telegram group (t .me / ascendexx) Inside that group I recognized several usernames that I had previously seen asking questions inside the official AscendEX Telegram group before being banned. I was eventually banned myself after repeatedly asking questions regarding my withdrawal. Speaking with these users confirmed many of my suspicions and showed me that my case was not an isolated incident. The most important thing I learned is that support was completely useless. The only progress I made came from monitoring the wallets myself. I started checking which assets were actually available on specific chains and whether enough liquidity existed before attempting withdrawals. After identifying a token that was present in one of their wallets, I performed a small test withdrawal and it succeeded. At this point I have managed to recover a small portion of my funds and I continue withdrawing through assets that still appear to have available liquidity and that can easily be exchanged elsewhere after withdrawal. The fact that users have to monitor exchange wallets in real time in order to determine which assets can actually be withdrawn should concern everyone using this exchange. Everything I learned came from blockchain analysis, wallet monitoring and communication with other affected users. Support never explained which assets were working, which networks had problems or how users could recover their funds. At this point I strongly do not recommend depositing funds to AscendEX under any circumstances. In my experience, getting money into the exchange is very easy, but getting it back out can become extremely difficult. If you currently have funds on AscendEX, I would strongly recommend testing small withdrawals immediately and verifying that the assets you hold can actually be withdrawn before depositing anything else. submitted by /u/itsckomi [link] [Kommentare]

Welcome to the Daily Crypto Discussion thread. Please read the disclaimer and rules before participating. Disclaimer: Consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here. Please be careful about what information you share and the actions you take. Do not share the amounts of your portfolios (why not just share percentage?). Do not share your private keys or wallet seed. Use strong, non-SMS 2FA if possible. Beware of scammers and be smart. Do not invest more than you can afford to lose, and do not fall for pyramid schemes, promises of unrealistic returns (get-rich-quick schemes), and other common scams. Rules: All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect. Discussion topics must be related to cryptocurrency. Behave with civility and politeness. Do not use offensive, racist or homophobic language. Comments will be sorted by newest first. Useful Links: Beginner Resources Intro to r/Cryptocurrency MOONs 🌔 MOONs Wiki Page r/CryptoCurrency Discord r/CryptoCurrencyMemes Prior Daily Discussions - (Link fixed.) r/CryptoCurrencyMeta - Join in on all meta discussions regarding r/CryptoCurrency whether it be moon distributions or governance. Finding Other Discussion Threads Follow a mod account below to be notified in your home feed when the latest r/CC discussion thread of your interest is posted. u/CryptoDaily- — Posts the Daily Crypto Discussion threads. u/CryptoSkeptics — Posts the Monthly Skeptics Discussion threads. u/CryptoOptimists- — Posts the Monthly Optimists Discussion threads. u/CryptoNewsUpdates — Posts the Monthly News Summary threads. submitted by /u/AutoModerator [link] [Kommentare]

Bought a shit ton of Litecoin at $100. It's now at $40. I'm down 60%. Need it to go up 150% to even break the fuck even. I'm down so much. Is there any hope? So depressing. submitted by /u/Prestigious_Way_738 [link] [Kommentare]

Another domino just fell. Traditional finance isn't fighting crypto anymore, it's building around it. When firms like Schwab enter the market, it adds another layer of accessibility and legitimacy. Whether you're bullish or bearish, adoption is accelerating. submitted by /u/SooperYuk [link] [Kommentare]

Everyone keeps talking about the "Clarity Act," but it's actually the Digital Asset Market Clarity Act (H.R. 3633) in full. I'll refer to it as the Clarity Act for short... Clarity Act aims to untangle the regulatory mess we have right now, where way too many different agencies keep tripping over each other trying to police and regulate cryptocurrency. So far, the bill cleared the House and then the Senate Banking Committee. Now, it's just sitting around waiting on a full vote from the Senate... SEC vs. CFTC: Right now, cryptocurrency companies don't know which agency's rules to follow. Clarity Act gives CFTC control over spot markets and digital commodities, while SEC handles only digital asset securities. Commodity vs Security: How do they actually decide what's a commodity and what's a security? Per Clarity Act, a token counts as a commodity if its network is open-source and transparent, and no single entity holds more than 20% of the voting power or token supply. Fail that test and it's a security. Ancillary Assets: These are investment contract tokens that don't actually give you any corporate ownership. Congress is essentially grandfathering major cryptocurrency like Bitcoin, Ethereum, and XRP, as permanent digital commodities. Protect Retail (YOU and ME): To protect everyday retail investors like you ands me, the Clarity Act forces exchanges to keep customer funds completely separate from their own corporate money. So, if an exchange goes under, they can’t legally lock up your tokens to bail out their own corporate debts. Pretty much to prevent events like the FTX collapse... Stablecoins and Money Laundering: Brokers and centralized exchanges will have to strictly follow standard anti-money laundering (AML) and counter-terrorism funding rules through standards like KYC checks to keep hackers out. I honestly don't know how non-KYC DEX will work if the Clarity Act is passed, well in the USA at least. They are also slapping a cap on stablecoin yields to stop catastrophic de-pegging disasters like the Terra-Luna crash... There's still debate about the Clarity Act though. Folks are pushing for an amendment that bans federal politicians such as the President from launching or hyping up tokens for personal profit. I am 100% for this, not just for digital assets but also for stocks etc... Obviously, the current President isn't a fan of that clause, especially since his family has made an insane amount of money off crypto during his term through ventures like *COUGH* World Liberty Financial *COUGH*. On top of that, CFTC is way too small and underfunded compared to the SEC to actually handle this much responsibility. Even though the bill technically has until December 31, 2026, to pass before it dies, the real deadline is much closer. If a bill doesn't manage to cross the finish line before Congress heads out for its August recess, it usually ends up getting abandoned. Prediction markets like Polymarket have tanked the odds of this passing this year down to 48% and continuing to decline. submitted by /u/bzzking [link] [Kommentare]

I wanted to make a private swap options comparison, as there are more of them these days. I'm also trying to pinpoint the speed of transaction of each one, so if you have any insights on that, please comment. Some say 2 minutes, but it's usually longer. submitted by /u/Vitoman1912 [link] [Kommentare]

It's obviously not the publicly traded company, but what exactly is this? Just a token that's intended to cause confusion? I was looking for the real company's stock on Coinbase and this was the only thing came up. submitted by /u/jpnoa [link] [Kommentare]

If the only global currency is BitCoin and all other currencies no longer exist .... How much will a two story house cost in BTC? You are not escaping the fiat system. You are just rebuilding it with a digital kill switch to your wealth that these same owners will use against you. Have a nice day. :) submitted by /u/InsightKnite [link] [Kommentare]