UpGate

Tag: Exchanges

  • Spot Trading Pairs Delisted June 16, 2026

    Spot Trading Pairs Delisted June 16, 2026

    Bybit to Delist H/USDC and ICNT/USDC Spot Trading Pairs

    Cryptocurrency exchange Bybit announced today that it will delist two of its spot trading pairs, H/USDC and ICNT/USDC, effective June 16, 2026, at 8 AM UTC. The decision follows a routine review of listed pairs aimed at ensuring a secure and dependable trading environment for its users, in accordance with Bybit’s Token Management Rules.

    The evaluation process considers key metrics including market performance, liquidity, and trading volume.

    Important Considerations for Traders

    Bybit has provided specific guidance for users holding positions in the affected trading pairs:

    • Order Cancellation: Traders are advised to cancel any outstanding orders for H/USDC and ICNT/USDC before the trading cessation. Any orders left open after the deadline will be automatically removed by the system.
    • Trading Bots: Active Spot Grid Bots and DCA Bots utilizing these tokens will be automatically terminated. Users are encouraged to close their bots in advance to effectively manage their assets.
    • Token Availability: The delisting of these specific spot trading pairs will not impact the availability or trading of the underlying H and ICNT tokens on Bybit. These tokens can still be traded through other available pairs.
    • Deposits and Withdrawals: Deposits and withdrawals for the underlying tokens will continue to be supported unless further notice is issued.
  • USDT Perpetual Contracts: Max Order Size Update June 9, 2026

    USDT Perpetual Contracts: Max Order Size Update June 9, 2026

    Bybit Adjusts Maximum Order Sizes for Perpetual Contracts to Enhance User Protection

    Singapore, [Date] – Cryptocurrency exchange Bybit announced it will implement adjustments to the maximum order sizes for a range of perpetual contracts, a move aimed at bolstering user protection. The changes are scheduled to take effect on June 9, 2026, at 6:30 AM UTC.

    The adjustments will impact both market and limit order sizes for specific contracts, with the goal of mitigating potential risks for traders. Bybit has provided a detailed breakdown of the revised limits, which will see reductions in the maximum order sizes for several popular trading pairs.

    For instance, the 1000000BABYDOGEUSDT contract will see its maximum market order size decrease from 12,000,000 coins to 4,500,000 coins, and its maximum limit order size will be reduced from 60,000,000 coins to 22,000,000 coins. Similarly, the 1000000MOGUSDT contract’s maximum market order size will be lowered from 34,000 coins to 25,000 coins, and its maximum limit order size from 170,000 coins to 150,000 coins.

    Other contracts affected by these changes include 1000BTTUSDT, AEROUSDT, APEXUSDT, BNTUSDT, BOBBOBUSDT, BRETTUSDT, BTRUSDT, CHIPUSDT, COREUSDT, CROUSDT, CTCUSDT, DEEPUSDT, EDENUSDT, EIGENUSDT, ENSOUSDT, ERAUSDT, ESPORTSUSDT, ETHBTCUSDT, ETHFIUSDT, HOMEUSDT, HYPERUSDT, IMXUSDT, JTOUSDT, KAITOUSDT, LABUSDT, MANTAUSDT, MEGAUSDT, METUSDT, OKBUSDT, PENDLEUSDT, PIEVERSEUSDT, PNUTUSDT, POWRUSDT, PUNDIXUSDT, RESOLVUSDT, ROAMUSDT, RSRUSDT, SKYAI1USDT, SPXUSDT, SUSHIUSDT, SXTUSDT, WHITEWHALEUSDT, XDCUSDT, and ZBTUSDT.

    Bybit encourages its users to trade responsibly and consider employing lower leverage levels to safeguard their accounts against potential risks. Traders are advised to review and adjust their trading strategies in accordance with the new maximum order size limits.

    The exchange has expressed its understanding for any inconvenience these adjustments may cause.

  • LBank Boosts TRX Earn with Up to 11% APR

    LBank Boosts TRX Earn with Up to 11% APR

    LBank Boosts TRX Earn Offerings, Promising Up to 11% APR

    Singapore, Singapore – June 12, 2026 – LBank, a prominent global cryptocurrency exchange, has announced a significant upgrade to its TRX Earn program, now offering users the potential to earn up to 11% Annual Percentage Rate (APR). The enhanced offerings, which include both flexible and locked earning products, are designed to optimize capital utilization for users and provide attractive passive income streams, while simultaneously supporting the expansion of the TRON ecosystem.

    The upgraded Spot Earn TRX product features a tiered reward system. Users holding up to 1,000 TRX will benefit from an industry-leading Annual Percentage Yield (APY) of 11%. Balances exceeding 1,000 TRX are eligible for a 9% APY. Complementing this, LBank has introduced Locked TRX Earn products, providing stable returns for those seeking longer-term investment horizons. A VIP Exclusive TRX Locked Earn option is also available for premium users, offering returns of up to 10% APY, thereby creating a diversified yield structure to accommodate varying investment preferences and risk tolerances.

    “TRON continues to be one of the most dynamic ecosystems globally, bolstered by a robust user base, widespread payment adoption, and increasing on-chain activity,” stated Eric He, LBank’s community angel officer and risk control adviser. “Through our revamped TRX Earn program, we aim to broaden access to high-quality yield opportunities and deliver added value to long-term TRX holders. This initiative underscores LBank’s ongoing dedication to providing practical financial products that combine competitive returns with an intuitive user experience.”

    Looking ahead, LBank plans to further expand its Earn product suite and identify new opportunities within other leading cryptocurrency ecosystems. By offering flexible wealth management solutions alongside innovative trading and on-chain products, LBank remains committed to empowering users to maximize the potential of their digital assets and contribute to the sustainable growth of the broader crypto economy.

    About LBank

    Established in 2015, LBank is a leading global cryptocurrency exchange serving over 25 million registered users across 160 countries and regions. With a daily trading volume exceeding $10.5 billion and a decade-long track record of security with no reported incidents, LBank is committed to delivering a comprehensive and user-friendly trading experience. The platform’s innovative trading solutions have enabled users to achieve average returns of over 130% on newly listed assets. LBank has listed more than 300 mainstream cryptocurrencies and over 50 high-potential altcoins, positioning itself as a market leader with rapid altcoin listings, substantial liquidity, and industry-first trading guarantees, making it a preferred platform for crypto investors worldwide.

  • SpaceX Tokenized Product Launches on Bybit

    SpaceX Tokenized Product Launches on Bybit

    Bybit Rolls Out IPO Express with Automatic Execution for SpaceX Tokenized Shares

    Bybit users who subscribe to the exchange’s new IPO Express product and secure an allocation may find their orders executed automatically. If the final offering price of the tokenized shares lands within 20% of the indicative price agreed upon during subscription, the trade will proceed without requiring further user confirmation.

    Launched on June 7, IPO Express allows eligible Bybit users to subscribe to tokenized representations of initial public offering (IPO) shares at the offering price. SpaceX is the inaugural listing, available under the token ticker SPCX. Subscription windows are open until June 11, with spot trading slated to commence on June 12.

    Understanding the Token’s Value

    The IPO Express product is built on Payward Services’ xStocks platform. Payward, the parent company of Kraken, is also facilitating SpaceX IPO access for retail clients in over 110 countries via the same infrastructure. Each SPCX token is backed 1:1 by actual SpaceX equity held in regulated broker-dealer custody. This distinguishes it from synthetic pre-IPO perpetual contracts offered by platforms like Hyperliquid and Binance, where no underlying shares are exchanged.

    However, owning SPCX tokens does not confer shareholder status in SpaceX. According to Bybit’s terms, these tokens do not grant voting rights, dividend rights, or any direct legal or beneficial ownership of SpaceX equity. Holders have no claim against SpaceX itself. Their entitlement is limited to exposure to the economic performance of the share price.

    Access Restrictions

    Eligibility for IPO Express is subject to two main restrictions. Firstly, the product is exclusively available to Bybit users who have achieved VIP or PRO tier status, a designation typically based on trading volume or asset holdings, and who have completed identity verification. Secondly, the offering is completely unavailable to residents of the European Economic Area (EEA), which encompasses all 27 EU member states, along with Iceland, Liechtenstein, and Norway. Bybit has stated it does not hold the necessary licenses or authorizations under MiCA or any applicable EEA financial services regulations for this product.

    This exclusion is noteworthy, particularly as SpaceX’s IPO has already barred investors in mainland China and Hong Kong due to U.S. International Traffic in Arms Regulations. The tokenized access route, presented as an alternative, carries its own set of limitations. The significant demand for SpaceX’s IPO, reportedly around $150 billion against a $75 billion raise, means that even qualifying VIP-tier subscribers may only receive partial allocations.

    Funds submitted for subscription are frozen from the moment an order is placed until the results are announced, or for up to five business days if the event is canceled.

    Future Prospects for IPO Express

    Bybit has positioned IPO Express as a recurring platform rather than a one-off product. Reports suggest that future major IPOs, potentially including those of OpenAI and Anthropic, could see similar tokenized access products launched through Bybit, Kraken, and other platforms utilizing the xStocks infrastructure.

  • Binance Fuels Massive Crash for Four Altcoins

    Binance Fuels Massive Crash for Four Altcoins

    Binance Delists Four Altcoins, Triggering Significant Price Drops

    Major cryptocurrencies like Ethereum (ETH), Ripple (XRP), and Solana (SOL) have seen declines of 5% to 8% in the past 24 hours, mirroring a broader downturn in the market. However, four less prominent tokens have experienced far more severe losses, with the primary catalyst identified as Binance.

    The world’s largest cryptocurrency exchange recently completed another review of the digital assets available on its platform. This assessment evaluated whether the tokens met industry standards, including factors such as team commitment, development activity, trading volume, liquidity, and network stability.

    Following this analysis, Binance announced it would cease all services for Contentos (COS), Dar Open Network (D), Highstreet (HIGH), and MOBOX (MBOX). The delisting is slated for June 19, but the announcement alone has already led to a sharp price collapse for the affected coins. Each has fallen by over 25% in a single day, with COS suffering the most significant decline, dropping approximately 31%.

    Such drastic price volatility is not unexpected. Losing support from a major exchange like Binance typically results in reduced liquidity, decreased accessibility, and reputational damage for the delisted assets.

    This move follows a similar pattern from just a few weeks prior, when Binance delisted Automata (ATA), Harvest Finance (FARM), Enzyme (MLN), Phoenix (PHB), and Syscoin (SYS), which also triggered notable price reactions.

    Binance also removed several trading pairs, including AXL/BTC, CRV/BTC, EGLD/BTC, OPN/BNB, POL/ETH, QTUM/USDC, and SKY/BTC. While this action did not result in a substantial price drop, the complete termination of trading services for the four aforementioned tokens has had a more pronounced impact.

    Binance to Support NEAR Protocol Network Upgrade

    In separate news, Binance has confirmed its support for the upcoming NEAR Protocol (NEAR) network upgrade and hard fork, scheduled for June 10. The exchange will temporarily suspend token deposits and withdrawals on the NEAR blockchain during this period.

    Binance has pledged to manage all technical aspects for its users, assuring that operations will resume once the upgraded network is deemed stable. The exchange also stated that trading of the NEAR token will not be affected.

    This type of network upgrade support is a standard procedure that Binance has undertaken multiple times previously, with no significant complications reported to date. In late May, the exchange briefly halted deposits and withdrawals on the Ethereum network for wallet maintenance. Prior to that, similar measures were implemented to support upgrades across other blockchain ecosystems, including Cardano and BNB Chain.

  • Coinbase Lists SpaceX Pre-IPO Futures

    Coinbase Lists SpaceX Pre-IPO Futures

    Coinbase Launches Pre-IPO Futures for Private Companies

    Coinbase is introducing a new perpetual futures product that will allow traders to speculate on the valuation of private companies ahead of their initial public offerings (IPOs). The cryptocurrency exchange announced that Elon Musk’s aerospace giant, SpaceX, will be the first pre-IPO company available for trading on the platform.

    How the New Product Works

    The SpaceX pre-IPO futures will be settled using the USDC stablecoin and will be available for trading around the clock. Positions will automatically convert once the company completes its IPO, meaning traders could see significant profits or losses based on the difference between the pre-IPO valuation and the eventual stock price.

    Coinbase CEO Brian Armstrong highlighted the product’s utility, stating in a tweet, “Pre-IPO perps are great to get exposure to private companies before they go public (outside the U.S. only for now) and to help with price discovery.”

    Geographic Restrictions and Future Listings

    Currently, the pre-IPO futures product is not accessible to users in the United States. Coinbase indicated in a blog post that further pre-IPO listings are expected soon, encompassing companies from sectors such as technology, artificial intelligence, energy, and space exploration.

    Market Context and Potential Impact

    This launch coincides with reports suggesting SpaceX’s IPO could value the company at $135 per share, potentially making Elon Musk the world’s first trillionaire. Prediction markets also show a high probability of Musk reaching this net worth milestone before July.

    Perpetual futures, often referred to as “perps,” enable traders to bet on an asset’s price movements without holding the asset itself. Unlike traditional futures, perps do not have expiration dates, offering flexibility for longer-term speculation. This trading mechanism has gained popularity in the crypto space, particularly with the rise of decentralized exchanges like Hyperliquid.

    Coinbase’s offering merges this popular trading strategy with pre-market trading, a common practice in the crypto industry where users speculate on the price of upcoming token launches. However, traders are cautioned that pre-market prices can be highly volatile and may not accurately reflect a token’s eventual value as new information becomes available.

  • Binance Expands US Stock Access, Plans Tokenized Stocks

    Binance Expands US Stock Access, Plans Tokenized Stocks

    Binance Launches Stock Trading Platform

    Cryptocurrency exchange Binance has launched a platform offering access to over 7,000 U.S. stocks and ETFs, with plans to allow users to convert these shares into blockchain tokens.

    The company is offering zero-commission trades to non-U.S. customers and fractional purchases starting at $5, as part of its goal to build a “multi-asset financial super app,” according to co-CEO Richard Teng.

    Share purchases will be facilitated through broker-dealer Nest Trading, with New York-based Alpaca Securities providing custody, dividend distribution, and corporate action services. Purchases will be supported via USDC, USDT, BNB, and other digital assets.

    Tokenization Plans

    Binance plans to introduce “bStocks,” a feature that will allow users to tokenize the equities they buy by minting synthetic versions on its BNB blockchain. The company stated that this feature, expected in the coming weeks, will enable customers to initiate the tokenization process themselves.

    Market Implications

    Ivan Patriki, co-founder of analytics platform Quantmap, noted that large crypto exchanges are entering the stock market to reduce their dependence on market cycles. Binance aims to retain user balances within its platform, preventing users from switching to traditional brokers for assets like Tesla shares or the S&P 500.

    Misha Putiatin, co-founder of collateral markets platform Symbiotic, believes tokenized stocks could drive broader adoption of Real World Assets (RWA) in the crypto space. He suggests that tokenized equities could integrate with decentralized finance (DeFi), supporting lending, collateral, and other yield-generating products.

    Vytautas Mackonis, COO of Swiss-based RWA protocol ALCUM, cautioned that Binance’s stock offering is structurally complex, involving multiple parties and creating operational risks. He noted that the growth of tokenized stocks is currently limited by fragmented regulations, limited secondary-market liquidity, and the lack of a consistent legal framework.

    Regulatory and Market Context

    The SEC recently delayed a planned “innovation exemption” for tokenized assets, citing concerns about third-party tokens.

    Patriki raised questions about the new model, including redeemability guarantees, synchronization of token prices with underlying stocks, and regulatory responses to the use of tokenized assets as DeFi collateral. He believes the shift will create a hybrid market where brokers, exchanges, banks, and blockchain platforms compete for user balances.

    Binance previously expanded its tokenization efforts by offering tokenized assets through Ondo Finance on its Binance Alpha platform.

    Competitors are also strengthening their tokenization strategies. Coinbase integrated Yahoo Finance tickers, while Kraken launched regulated tokenized equity perpetual futures and partnered with Nasdaq to develop tokenized equities.

    According to rwa.xyz data, daily trading volume across tokenized stocks and ETFs has reached $1.68 billion, up 39% over the past month, with monthly transfer volume hitting $3.63 billion, up 36%, and holders rising 31% to 292,590.

  • Coinbase Enables Direct Rupee Deposits and Withdrawals in India

    Coinbase Enables Direct Rupee Deposits and Withdrawals in India

    Coinbase Launches Direct INR Banking Rails in India

    Coinbase has introduced direct Indian Rupee (INR) banking rails in India, enabling deposits and withdrawals through the country’s Immediate Payment Service (IMPS). This eliminates the need for peer-to-peer intermediaries and streamlines the onboarding process for local users.

    New Trading Features

    The exchange has established dedicated INR order books, allowing Indian users to trade directly in rupees without converting through stablecoins or other intermediary assets. Coinbase has also launched perpetual futures contracts for major cryptocurrencies, providing Indian traders with access to leveraged instruments.

    Coinbase is now live in India with direct INR rails, offering users across the country seamless access to global liquidity and institutional-grade execution at competitive trading costs.

    Executive Statements

    John O’Loghlen, Coinbase Regional Managing Director, APAC, stated that the exchange is “here for the long term” and has “invested meaningfully in the Indian ecosystem” in recent years.

    Akshay Chugh, Coinbase India Product Lead, noted that the direct INR rails are “Gradually rolling out to all users,” and that “India is one of the most important markets for Coinbase globally.”

    Regulatory Compliance and Market Growth

    The infrastructure upgrades leverage Coinbase’s registration with India’s Financial Intelligence Unit, the government agency overseeing crypto compliance. This direct banking integration represents a significant technical advancement for international exchanges operating in India, where regulatory uncertainty has previously led platforms to rely on workarounds.

    India has maintained its position as the global leader in crypto adoption for the third consecutive year, according to the 2025 Chainalysis Global Crypto Adoption Index. The Indian cryptocurrency market reached $3.04 billion in 2025 and is projected to reach $14.21 billion by 2034, with a compound annual growth rate of 18.66%.

    Historical Context

    This market expansion occurs despite India’s 30% tax on crypto gains and a 1% tax deducted at source on all transactions, among the highest crypto tax rates globally.

    Coinbase’s current infrastructure marks a significant shift from its troubled 2022 India launch, when the exchange suspended UPI payment support shortly after the National Payments Corporation of India issued a public statement. Chief Executive Brian Armstrong attributed the suspension to “informal pressure” from the Reserve Bank of India, forcing Coinbase to operate with crypto-to-crypto trades only.

    The exchange exited India entirely before returning in December 2025 with Financial Intelligence Unit registration. The two-year absence allowed Indian exchanges like CoinDCX and WazirX to gain market share while Coinbase navigated regulatory requirements and invested in the local ecosystem, including in CoinDCX.

  • NYSE Parent, OKX Launch Regulated Oil Futures

    NYSE Parent, OKX Launch Regulated Oil Futures

    OKX, the international cryptocurrency exchange, announced on Friday that it is expanding access to crypto-native derivatives modeled on Intercontinental Exchange’s (ICE) energy benchmarks for traders outside the United States. This move highlights Wall Street’s efforts to compete with the rapid growth of Hyperliquid.

    Global Expansion

    OKX, along with the parent company of the New York Stock Exchange, is targeting traders in the United Arab Emirates, Europe, Australia, and Singapore. The exchange is positioning this as “a major step forward in expanding regulated access to global commodity markets through digital asset infrastructure.”

    Derivatives Tied to Oil Futures

    The derivatives offered by OKX, known as perpetual futures, will be linked to ICE’s pricing for Brent and WTI oil futures. This will allow traders to speculate around the clock on a market that has gained increased attention due to the conflict in the Middle East and its impact on the Strait of Hormuz.

    “Oil markets are critical to the world economy,” said Haider Rafique, OKX Global Managing Partner, in a statement. “Bringing them into regulated perpetual futures is exactly the kind of bridge between traditional and digital markets that market participants have been asking for.”

    Regulatory Scrutiny

    This offering comes as the Justice Department and the Commodity Futures Trading Commission (CFTC) are reportedly investigating billions of dollars’ worth of suspicious oil bets that occurred before major announcements by President Donald Trump and a top Iranian official regarding the war in Iran, according to ABC News.

    Earlier this week, Hyperliquid’s policy arm responded to market integrity concerns that ICE and CME Group had brought to the attention of regulators, as reported by Bloomberg. These concerns reportedly stem from the unregulated nature of the decentralized exchange’s platform, which does not require customers to complete know-your-customer (KYC) procedures.

    Market Landscape

    Hyperliquid, which launched in 2023, has become the leading platform for offering open access to perpetual futures. Unlike traditional futures, perpetual futures do not expire and can be held open indefinitely, with periodic payments between traders.

    While Hyperliquid’s platform currently has $9.6 billion in outstanding trades, Binance dominates the crypto derivatives market with $26 billion in notional open interest, according to CoinGecko. OKX’s open interest stood at $8.2 billion on Friday.

    Hyperliquid’s native token recently traded around $60.18, a 39% increase over the past seven days, nearing its all-time high from the previous day.

  • Coinbase Anticipates Potential Weekend Service Disruptions

    Coinbase Anticipates Potential Weekend Service Disruptions

    Coinbase Warns of Possible Weekend Disruptions

    The leading U.S.-based cryptocurrency exchange has alerted its users to potential service disruptions this weekend. The company has been in the news recently following staff reductions and the implementation of various platform adjustments and other developments.

    System Upgrade Planned

    Coinbase has scheduled a system upgrade for Saturday, May 23rd, with an estimated duration of approximately 30 minutes. The company stated that trading will not be affected during this time, although order status updates across all markets may be delayed. Coinbase has pledged to provide updates as the maintenance progresses.

    These types of upgrades are considered standard practice and typically do not raise significant concerns. In October of last year, Coinbase experienced a temporary outage for a similar reason, with no major complications reported.

    Previous Disruptions

    Earlier this month, some Coinbase users encountered difficulties completing transactions, while others experienced slower service speeds due to an overheating issue with Amazon Web Services (AWS). The exchange quickly identified the problem and worked to restore trading across its markets.

    Some users noted on social media that the outage occurred shortly after Coinbase announced a 14% reduction in its global workforce. CEO Brian Armstrong cited ongoing market volatility and the rapid advancement of Artificial Intelligence (AI) as the primary reasons for the decision.

    Recent Developments

    In addition to these developments, Coinbase recently made headlines after becoming the official treasury deployer of USDC under Hyperliquid’s Aligned Quote Asset (AQA) framework. In this role, the exchange will manage USDC liquidity directly for the protocol, supporting its on-chain financial operations. This collaboration also positions Coinbase as a key player in the expanding decentralized derivatives ecosystem.

    Hyperliquid revealed that both Coinbase and Circle have agreed to stake HYPE tokens to support the activation of AQAv2, the next upgrade to the Aligned Quote Asset (AQA) on the decentralized exchange.

    Coinbase has also delisted several trading pairs. Last week, it removed six non-USD trading pairs, including ICP/USDT and ICP/GBP. This was followed by a 10% price decline for Internet Computer, dropping to just under $3. The asset has since failed to recover, and is currently trading near $2.50.