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Digital Asset Exchange FTX Introduces Cryptocurrency Trading for US-based Users



Digital asset exchange FTX has introduced a crypto trading platform for US-based users.

FTX.US supports spot trading for major virtual currencies, including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Paxos Gold token (PAXG), and stablecoin Tether (USDT).

The new platform will provide up to 10x leverage, low or competitive trading fees, and will ensure that there’s enough liquidity to support trades on the exchange.

As mentioned on its official website, FTX.US is a US-regulated cryptocurrency exchange that has been developed from the ground up (instead of using the existing infrastructure provided by third-party exchange companies).

FTX.US combines banking on-ramps in order to make it simple to deposit and withdraw fiat money as needed. The exchange has integrated major stablecoins with USD in order to aggregate liquidity and make it easier to use the platform.

FTX.US claims it has implemented “industry standard” security, which includes a customized hot and cold cryptocurrency wallet solution; “full external backing” of all hot wallet funds; and relationships with established digital asset custodians.

The exchange is managed by a team that has experience developing a derivatives trading platform and establishing a quantitative trading firm.

FTX.US maintains separate order books from its main FTX trading platform.

The company’s management said they would be introducing more features, including support for more digital assets, new mobile-based apps, and over-the-counter (OTC) trading support.

Earlier this year, Hong Kong-based FTX revealed it was planning to secure $15 million via an equity round at a $1 billion valuation.

FTX.US provides crypto trading in almost all US states, with the exception of New York and Washington.

Meanwhile, Binance.US has more than 10 restricted US states, even though it launched 9 months ago.

FTX has chosen Coinbase Custody as its main custody solutions provider, meaning that the San Francisco-based firm will be storing FTX’s native digital token, FTT.



Headlines: Stitt Activates National Guard, Record Madical Marijuana Sales & McKnight Center Season



Local headlines for Tuesday, June 2, 2020:

  • Governor Stitt activates the National Guard in Oklahoma. (NewsOK)
  • National Guard joins police in dealing with protestors at Woodland Hills Mall. (Tulsa World)
  • OHP releases few details on truck driver injuring protestors. (Tulsa World)
  • OKC Black Lives Matter leaders issue demands. (NewsOK)
  • Tulsa BLM organizers praise the weekend protests. (Tulsa World)
  • Tulsa mayor advocates for change in policing. (Tulsa World)
  • Dress for Success moves forward after weekend fire. (NewsOK)
  • Vandalism mars reopening plan for OKC businesses (Journal Record)
  • Church leaders plans discussion over racism. (NewsOK)
  • Health officials add 67 new cases but no new deaths to numbers from COVID-19. (Tulsa World)
  • Oklahoma County Jail inmate tests positive for COVID-19. (NewsOK)
  • Former health leader stays on as consultant. (NewsOK)
  • Another record month for medical marijuana sales (NewsOK)
  • The agency dealing with a backlog of unemployment is making changes. (NewsOK)
  • Sentencing reform advocates turn in 260,000 signatures for State Question 805. (Journal Record)
  • Rally organizers push for Tesla to come to Tulsa. (Tulsa World)
  • Costco buys Hertz building for new headquarters. (NewsOK)
  • McKnight Center plans online chats for upcoming season. (Tulsa World)

Original Author Link click here to read complete story..


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Chart: Florida’s medical cannabis market booms despite pandemic, US economic woes



Despite the ongoing coronavirus crisis, Florida’s medical marijuana industry continues to surge, with sales remaining well above pre-pandemic levels.

Demand for medical marijuana is at an all-time high, providing yet another example of the durability of cannabis demand in times of economic distress.

Over the first 10 weeks of 2020, dispensaries in Florida sold an average of 22,800 ounces of smokable MMJ per week.

However, dispensaries sold nearly 36,400 ounces during the seven-day period beginning March 13 – an increase of 38% from the previous week – just as COVID-19 fears began to enter the mainstream.

Florida’s program reports weekly sales figures beginning on a Friday and ending the following Thursday.

The seven-day period beginning April 17 was another record week for sales in Florida, with patients purchasing a collective 39,290 ounces of smokable flower.

That week happened to align with two major sales catalysts:

  • The first round of coronavirus stimulus checks hitting Americans’ bank accounts.
  • The unofficial cannabis holiday, 4/20.

While flower sales have been more volatile than usual on a week-to-week basis, they remained higher than at any point before the COVID-19 pandemic.

Furthermore, this sustained period of elevated demand is driven by an increase in consumption among existing patients, not just from new patients entering the market.

In the first 10 weeks of the year, the average medical marijuana patient in Florida purchased 2 grams of smokable flower per week.

For the past four weeks of data – or the seven-day period beginning May 1 through the seven-day period ending May 28 – the average patient purchased 2.9 grams of flower per week, an increase of 43%.

Besides allowing existing MMJ patients to renew their registrations via teleconference instead of in person, Florida’s Office of Medical Marijuana Use didn’t take any substantive measures to bolster the industry amid the coronavirus crisis.

But regulators likely didn’t need to.

The state classified medical marijuana dispensaries as essential businesses early in the pandemic, and MMJ retailers have been allowed to deliver product to patients since the market launched.

The big question for both Florida’s MMJ market and the cannabis industry at-large is whether sales will continue to hold strong in the event that the additional, temporary coronavirus unemployment benefits run out before the economy is able to recover.

Eli McVey can be reached at [email protected]

For more of Marijuana Business Daily’s ongoing coverage of the coronavirus pandemic and its effects on the cannabis industry, click here.


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Chinese man arrested for growing cannabis in warehouse



Police take Wu Ding Bin, 41, to the warehouse where there about 1,000 cannabis plants were being grown, in Prawet district, Bangkok, on Tuesday. (Screenshot from TV Channel 3 news)
Police take Wu Ding Bin, 41, to the warehouse where there about 1,000 cannabis plants were being grown, in Prawet district, Bangkok, on Tuesday. (Screenshot from TV Channel 3 news)

A Chinese man was arrested in Bangkok’s Bang Kapi district on Tuesday and charged with growing 1,000 cannabis plants in a warehouse for online sale.

Pol Lt Gen Pakapong Pongpetra, commissioner of the Metropolitan Police Bureau, said Wu Ding Bin, 41, was detained near his room on Soi Ramkhamhaeng 24/3.

Police allege that Mr Wu and four Chinese accomplices grew organic cannabis of foreign varieties at a rented warehouse on Soi On Nut 82 in Prawet district, sold the cannabis online and delivered the product through courier services.

“Marijuana of foreign varieties is priced at up to 700,000 baht per kilogramme,” Pol Lt Gen Pakapong said.

The suspect had visited Thailand in 2018 and left  Afterwards he revisited on a student visa, claiming to learn Muay Thai.

The suspect denied knowledge of the cannabis grown in the warehouse, claiming he was only an electrician. The Bangkok police chief said surveillance camera footage showed the man paid frequent visits to the warehouse while carrying a big bag.

The warehouse had been air-conditioned and lit up around the clock. The electricity bill was 70,000-100,000 baht a month, while the monthly rent was about 40,000 baht.

Before the arrest, the gang had cut off electricity at the warehouse and let the plants die, Pol Lt Gen Pakapong said.

He said police apprehended Mr Wu because a Hong Kong Chinese man, Ma Ho Yin, 36, was arrested at a building on Soi Ramkhamhaeng 27 with about 300 cannabis plants growing there on May 3. He told police Mr Wu was doing the same thing.


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