ZachXBT Sounds Alarm Over AscendEX as Users Struggle to Withdraw Funds

The post AscendEX Halts Operations July 1 After Failing MiCA License, ETH Wallets Left Near Empty appeared on BitcoinEthereumNews.com. Crypto News The centralized crypto exchange AscendEX ceased all operations effective July 1, 2026, and warned users it cannot guarantee full recovery of their balances. The exchange published its official notice on July 6, five days after halting trading, citing MiCA compliance requirements, a failed strategic transaction, and deteriorating market conditions. In our reading, the sequencing matters: the platform stopped serving customers before it explained why, leaving deposits, swaps and staking frozen. AscendEX said it is assessing options for account holders while cautioning it cannot promise withdrawal timing or amounts. For an altcoin-heavy user base, that uncertainty over locked funds is the immediate and unresolved concern. Regulation sits at the center of the collapse. The European Union’s Markets in Crypto-Assets framework, known as MiCA, took

AscendEX says withdrawals will be handled manually, with no guarantees on processing times or payment amounts.

The post Crypto Betting vs Fiat Sportsbooks: What Changes for the Bettor appeared on BitcoinEthereumNews.com. Sports betting has changed significantly over the past decade. Alongside traditional sportsbooks that rely on bank transfers, cards, and e-wallets, a growing number of operators now accept cryptocurrencies or are built entirely around blockchain infrastructure. For bettors, the difference extends far beyond the payment method. Crypto sportsbooks change how users deposit funds, control their balances, verify their identity, and withdraw winnings. Some platforms such as Dexsport are built as crypto-native sportsbooks rather than a traditional bookmaker that later added Bitcoin payments, Dexsport supports dozens of cryptocurrencies, wallet-based registration, and blockchain transparency while maintaining a licensed betting platform. Understanding these differences helps bettors decide which model better fits their priorities. Crypto vs Fiat Sportsbooks   Feature Cryp

The post Zapper shuts down after 7 years despite $13B peak volume – Details appeared on BitcoinEthereumNews.com. Zapper, a DeFi asset manager, has announced plans to shut down after nearly seven years of operation. To quantify the scale of its operation, the asset manager had attracted over 2 million active monthly users while it processed over $13 billion at its peak in transaction volume. Yet, the strong user adoption did not translate into a sustainable business model as revenue declined due to intensified competition. This competition narrowed the asset manager’s profit margin, crippling its operations. Source: Zapper on X On the 3rd of August, the asset manager will shut down completely, bringing an end to its operations. The platform will assist its users in transitioning. Seb Audet, Co-Founder and CEO of Zapper, acknowledged that Zapper fell short of its mission. On a post on X he stated, Zapper’s mission was to make DeFi more accessible, and while we did not realize that missio

The post AscendEX Exchange Shuts Down With No Guarantee Users Will Get Their Funds Back appeared on BitcoinEthereumNews.com. Key highlights: The exchange stopped operations on July 1 as the new MiCA rules took effect Users were warned that their assets may not be recoverable Automated withdrawals have been suspended, with all now under manual review Thousands of AscendEX users could potentially lose the funds they have in the crypto exchange. The firm has officially shut down operations amid regulatory challenges and financial difficulties. Interestingly, the company also told its customers that it cannot guarantee that they will recover all of the assets held in their accounts. AscendEX closure raises questions for customers In a notice published on July 6, the firm officially confirmed that it ceased operations on July 1. The company then added that the European Union’s MiCA regulation was a major reason behind the closure. The new framework requires crypto firms operating in the EU

Compare crypto sportsbooks and traditional fiat sportsbooks. Learn how custody, withdrawals, KYC, stablecoins, deposit speed, and on-chain transparency affect your betting experience.

The post AscendEX Shuts Down as User Balance Payouts Remain Uncertain appeared on BitcoinEthereumNews.com. AscendEX shut down after MiCA pressure, weak liquidity, and failed funding left operations unsustainable. Users face delayed manual withdrawals, with the exchange unable to guarantee full balance recovery. ZachXBT had flagged nearly empty hot wallets before the shutdown, including ETH, USDT, USDC, and SOL. The closure revives custody concerns after AscendEX’s 2021 breach, which caused about $78M in losses. AscendEX has shut down after regulatory, financial, and operational pressures pushed the crypto exchange into a controlled offboarding process. The platform ceased operations on July 1, then published a notice on July 6 explaining the decision. JUST IN: ASCENDEX SHUTS DOWN AND USERS MAY NOT GET FULL BALANCES BACK Crypto exchange AscendEX has ceased operations on July 1, citing MiCA, regulatory, financial and operational pressure. The company’s statement indicated that current li

The post AscendEX Shutdown Sparks Fresh Fears Over Customer Withdrawals  appeared on BitcoinEthereumNews.com. AscendEX halted operations as manual withdrawal reviews left customers uncertain about accessing their funds.  ZachXBT questioned AscendEX’s liquidity, saying its hot wallets may not cover verified customer claims.  AscendEX blamed financial strain and MiCA as its closure renewed concerns over exchange stability. Blockchain investigator ZachXBT raised fresh concerns after crypto exchange AscendEX announced it would shut down, leaving customers uncertain about whether they will be able to withdraw their funds.  In a Telegam post, he said users with money still on the platform could face challenges getting it back, claiming the exchange’s publicly known hot wallets do not appear to hold enough liquid assets to cover verified multi-million-dollar customer claims. “AscendEX admits in its announcement withdrawals may or may not be processed,” ZachXBT wrote. He urged affected users t