Table of Contents:

· Bitstamp continues to shrink in the North American market

· Bitstamp is continuing to expand its presence in the European market

· Vitalik has transferred ETH to Bitstamp multiple times

Bitstamp North American market continues to shrink

BlockBeats October 11th News, according to The Block, cryptocurrency trading platform Bitstamp will end its services in Canada on January 8th next year. According to Bobby Zagotta, Bitstamp's US CEO and global chief business officer, in a statement, "After notifying customers in March, Bitstamp will officially stop providing services to Canadian customers from January 8, 2024." Zagotta urged customers to withdraw their funds before January next year.

From the United States to Canada, this also means that Bitstamp is further withdrawing from the North American market. In fact, since the beginning of this year, Bitstamp has been continuously shrinking its business in North America.

On March 3rd, Bitstamp announced on its official blog that it has temporarily suspended the Silvergate Exchange Network (SEN) service and all USD wire transfers provided by SilvergateBank for all users.

On August 9th, Bitstamp announced that it will prohibit US users from trading seven tokens, including AXS, CHZ, MANA, MATIC, NEAR, SAND, and SOL, starting from August 29th, 2023; On August 24th, Bitstamp announced that it will stop providing Ethereum staking services to US customers from September 25th.

On the other hand, relative to Bitstamp's gradual withdrawal from North American markets, including the United States and Canada, is its gradual expansion in the European market.

Bitstamp is continuing to expand its presence in the European market

On February 7th, according to information displayed on the website of the French Financial Markets Authority, Bitstamp has been officially registered with the French Financial Markets Authority. Bitstamp had previously been registered in Spain and Italy. On June 13th, Bitstamp was approved to operate in the UK by the Financial Conduct Authority (FCA). It is worth mentioning that the FCA has been increasingly strict in regulating the cryptocurrency industry, but Bitstamp is one of the cryptocurrency-related companies approved to operate by the FCA in the past six months.

Related reading: "Over 140 trading platforms have been included in the warning list, and the regulatory efforts of cryptocurrency in the UK continue to increase".

In recent years, the number of encryption industry-related companies approved by FCA has been extremely rare. According to BlockBeats statistics, only two companies have been approved to operate in the UK in the past six months. On June 13th, Bitstamp UK Limited, a European cryptocurrency trading platform, was approved by FCA to operate in the UK. On October 6th, Komainu, a compliant encryption custody company jointly established by Nomura Securities, Ledger, and Coinshares, announced that it has been approved by FCA and registered as a custodial wallet provider.

Previously, on August 8th, according to Bloomberg, Jean-Baptiste Graftieaux, the CEO of Bitstamp, stated that they were in talks to raise new funds for expansion. A Bitstamp spokesperson also stated that the exchange had started the fundraising process at the end of June, with Galaxy Digital Holdings serving as an advisor. It is reported that Bitstamp plans to use the funds for operations, including launching derivative trading in Europe early next year and expanding its business in Asia and the UK market.

October 9th, according to CoinDesk, Bitstamp is negotiating with three European banks to provide cryptocurrency services to them in Q1 2024. Zagotta stated that the relatively new Bitstamp-as-a-service product has generated a lot of interest in Europe, and the service aims to help banks and fintech companies provide cryptocurrency trading.

Vitalik has transferred ETH to Bitstamp multiple times

As Bitstamp shifts its business focus, the fact that Ethereum founder Vitalik Buterin has transferred ETH to Bitstamp multiple times has also caught the attention of the community.

On September 3rd, according to Spot On Chain monitoring, Vitalik transferred 999 ETH (worth $1.63 million) from address "0xD04" to address "0x556" 20 hours ago. It is understood that Vitalik seems to have transferred 1602 ETH (worth $2.68 million) to Bitstamp through address "0x556" in the past 8 days and sold 100 ETH to obtain $173,000.

On September 12th, according to Lookonchain data, Vitalik Buterin's related address once again transferred 2000 ETH to the address starting with 0x5567 in the early morning of that day, worth about $3.12 million. It is reported that in the past month, Vitalik's related addresses have accumulated 2700 ETH worth about $4.77 million through the address starting with 0x5567 and transferred to Bitstamp.

On October 7th, according to Lookonchain's monitoring, Vitalik's associated address once again transferred 1000 ETH (approximately $1.64 million), which may be deposited into Bitstamp. This address has already deposited a total of 4400 ETH (approximately $7.23 million) into Bitstamp in the past 2 months.

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