Despite a few rough patches for the industry, June saw the CEX.IO Team close out the first half of the year with robust coverage, fresh partnerships, positive reviews, and ample opportunities for thought-leadership. The regulatory landscape was the main topic of discussion across many of our appearances, as mixed-messages and successes continued to play tug-of-war with the space. Thankfully, our experienced team is accustomed to navigating fast-moving situations, and keeping pace with emerging trends.
Our Founder and CEO, Oleksandr Lutskevych, kicked off the month with his first of three trips to the Cointelegraph Innovation Circle. Round one centered on what the U.S. could learn from other countries with regards to crypto regulation. With the promises of Markets in Crypto-Assets (MiCA) legislation now law in the EU, Alex noted this could be a great place for the Home of the Brave to start their inquiry. While his second appearance contributed to the CEXs vs. DEXs debate, Alex returned for a third time to urge crypto leaders to embrace MiCA guidelines quickly to protect the broader community. After a prolonged period of uncertainty and advocating on the part of concerned participants, Alex argued we all deserve a sigh of relief.
CEX.IO’s Head of Communication, Becky Sarwate, also spoke with Cointelegraph in the first week of June about the seemingly languid state of the industry. While it was unknown at the time that this would be a short-lived phenomenon, Becky was correct to note the excitement in the air. Before week’s end, she was again quoted, this time by The Associated Press, when the company’s announcement of award successes was picked up by the legacy outlet.
Next up, our Director, Head of Corporate Payment Solutions, Arina Dudko, had a piece published on HackerNoon that also dug into the current regulatory landscape. Citing recent actions by the U.S. Securities and Exchange Commission (SEC), Arina explored how the institution’s posture toward crypto has deviated from that of prior innovations. Plus, the release of the Hinman documents as part of Ripple’s ongoing litigation with the SEC added more vectors of curiosity to the story.
Over on the institutional side, Rich Evans, Managing Director of our Prime Liquidity program, was quoted by Yahoo!Finance ahead of his appearance at the 2023 Hedge Fund European Digital Assets Summit. Speaking from an enterprise perspective, Rich weighed in on how fund managers can prepare for and adapt to a post-MiCA regulatory landscape. This event rounded out a solid month of generative thought-leadership during an uncertain, yet hopeful period for the industry.
June also saw the announcement of our partnership with Ledger to support their new institutional service, Tradelink. By combining custodial trading with legacy protections, we’re looking forward to offering more secure pathways through the digital economy. And lastly, emerging crypto media and culture site Coinweb stopped by to review our product ecosystem to a 4.4/5 level of satisfaction.
Explore our June media highlights, positive reviews, new partnerships, and thought leadership via the links below.
Cointelegraph: 11 things the United States can learn from other nations’ crypto regulations
On June 1, CEX.IO Founder and CEO, Oleksandr Lutskevych, returned to the Cointelegraph Innovation Circle to discuss what the U.S. could learn from crypto’s regulatory status in other countries. While uncertainty hovers for the near future, Alex remained hopeful, citing recent developments in the EU. As the ink dries on the region’s Markets in Crypto-Assets (MiCA) legislation, Alex signaled this advancement as a forward-looking roadmap for other nations to consider.
“Despite embracing crypto, the U.S. has yet to arrive at a concrete legal framework that adequately addresses the digital asset class. Regulators could consider the E.U.’s recent Markets in Crypto Act vote, which defined terms and set expectations for traders, companies and builders operating within its borders. Until a similar consensus is reached in the U.S., participants run the risk of being left in the dark.”
Cointelegraph: Cryptocurrency markets’ low volatility: A curse or an opportunity?
On June 4, CEX.IO’s Head of Communications, Becky Sarwate, spoke to Cointelegraph about the relatively calm market climate that prevailed for crypto at that time. Noting the feelings of excitement and innovation circulating throughout the digital asset community, Becky remained hopeful that this holding period was laying the groundwork for greater prospects. For a full update on the state of the crypto space, stay tuned for the CEX.IO Market Research Team’s Q2 2023 COMPASS report, coming later this July.
“Sarwate said there is a ‘palpable optimism in the crypto space’ despite the increased regulatory scrutiny. This year has been a ‘steady stream of inspiring technological breakthroughs and discoveries that are reinvigorating the digital asset space,’ she said.”
AP News: CEX.IO Recognized with Three Awards by World Business Outlook and Global Brands Magazine
On June 6, Becky was quoted by The Associated Press following the announcement of CEX.IO’s trio of wins across two outlets. Despite enjoying a robust year to date of positive coverage and third-party kudos, these acknowledgements ramped up the attention. CEX.IO was named “Most Secure Bitcoin and Cryptocurrency Exchange Platform” and “Leading Cryptocurrency Exchange Platform” by World Business Outlook, and “Best Cryptocurrency Exchange Platform” by Global Brands Magazine.
“‘We are truly honored to be recognized by World Business Outlook and Global Brands Magazine as a forward-looking leader in the digital asset space,’ said Becky Sarwate, Head of Communications for CEX.IO. ‘Since 2013, we’ve been refining the user experience for curious participants looking to embark on their crypto journey. As we approach a decade of providing award-winning solutions this November, we’re grateful for the opportunity to continue serving as a trusted crypto guide.’”
HackerNoon: The SEC’s Crypto Crackdown Is Out of Step With History
On June 21, our Director, Head of Corporate Payment Solutions, Arina Dudko, had a piece published on HackerNoon examining how the SEC’s latest activities deviate from historical precedent. Since its inception in the 1930s, the institution has kept pace with finance and technology to encourage growth and instill thoughtful regulations. However, Arina’s scholarly approach helps piece together how their latest round of actions are steeped in curiosity.
“It’s frustrating to be once again litigating the use and function of technologies that are co-evolving with our legacy institutions. Skeptics can point to ample instances of foul play in the digital economy, but fail to acknowledge the latitude we allow traditional finance for similar missteps. However, as technological advancements continue to reorient vectors of communication, education, and wealth transfer, communities will continue to embrace viable alternatives to existing systems.”
Coinweb: CEX.IO Review
On June 23, fledgling crypto news and culture outlet Coinweb stopped by the CEX.IO product ecosystem for a comprehensive tour of our tools and services. Citing our user-centric services and proven commitment to ethical crypto stewardship, Coinweb gave CEX.IO a 4.4/5 rating, with high marks for low fees and attentive customer service.
Explore Coinweb’s full review and methodology here.
Cointelegraph: 13 DeFi leading practices CeFi companies would be wise to emulate
On June 27, Alex returned to the Cointelegraph Innovation Circle for another discussion with industry leaders. This time, the topic was the age-old debate of CEX vs. DEX, and what the two spaces can learn from each other. Citing the core crypto tenants of decentralization and nimble access to vetted markets, Alex cautioned against allowing the limitations of traditional financial vertices to stunt the digital economy.
“Traders who opt for decentralized exchanges are typically attracted to the sense of freedom these platforms instill. Centralized exchanges can offer great protection and peace of mind to their communities, but if they’re unable to follow through on efficiency, they just end up replicating the limitations of traditional systems. In the long run, CEXs can either respond to the dexterity of DEXs or risk becoming the new establishment.”
Yahoo!Finance: CEX.IO’s Rich Evans to Join Fireside Chat at the Hedge Fund European Digital Assets Summit
On June 27, Rich Evans, Managing Director of our institutional offering, CEX.IO Prime, was quoted by Yahoo!Finance about his appearance at the 2023 Hedge Fund European Digital Assets Summit. Rich co-hosted, “Trading Strategies in a Post-MiCA Environment – Decoding Managers’ Processes,” a Fireside Chat exploring the EU’s recent regulatory framework for digital assets, and the road ahead for institutional investment.&
“‘While there’s been some conflicting messages in the crypto regulatory space as of late, overall we’re seeing an aggregated acceptance of the asset class on a global scale,’ Evans said. ‘The EU’s legal framework for fostering growth and protecting participants could work to galvanize enterprise clients to diversify their holdings in the digital economy. I’m looking forward to an insightful conversation as we navigate these new developments.’”
The Block: Ledger launches custodial trading network for institutions
On June 28, Paris-based crypto security firm Ledger announced their expansion into the institutional space, with CEX.IO among the early partners supporting the initiative. The new service, Tradelink, will introduce custodial trading via exchanges and various custodial partners in an effort to minimize risk for enterprise clients. CEX.IO is proud to be participating in the effort to expand crypto adoption through the promotion of secure solutions.
“A bevy of wholesale partners will support the exchange at launch, including asset managers Laser Digital and Hodl Group; custodians such as Komainu, TetraTrust, Etana, Crypto Garage, Damex and Kryptodian; and exchanges and other kinds of brokers including Crypto.com, Bitstamp, Huobi, Uphold Institutional, CEX.IO, Wintermute, Coinsquare, NDAX, Damex, Bitazza, Flowdesk and YouHodler.”
Cointelegraph: 9 key steps for ensuring compliance with incoming MiCA regulations
On June 29, Alex was selected for a third appearance in the Cointelegraph Innovation Circle, this time to discuss how crypto leaders should approach new regulations. While there have been some questions as to the best route for a speedy implementation, Alex proposed a posture of careful haste to apply the new guardrails that have long been sought. That way, we can look forward to the hard work of reaching the next horizon.
“Change is always difficult, but progress is something to be celebrated. After prolonged periods of uncertainty in the EU regulatory space, MiCA is offering clarity and legal definitions that participants have long been seeking. These common-sense guardrails aim to cultivate equilibrium among all actors in the space. In turn, leaders should work closely with regulators to embrace this transition.”
Disclaimer: Information provided by CEX.IO is not intended to be, nor should it be construed as financial, tax or legal advice. The risk of loss in trading or holding digital assets can be substantial. You should carefully consider whether interacting with, holding, or trading digital assets is suitable for you in light of the risk involved and your financial condition. You should take into consideration your level of experience and seek independent advice if necessary regarding your specific circumstances. CEX.IO is not engaged in the offer, sale, or trading of securities. Please refer to the Terms of Use for more details.
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