AscendEx ASD Social Audit & Trust Score

AscendEX, formerly known as BitMax, stands as a global digital asset financial platform that has rapidly evolved since its launch in August 2018. Founded by Dr. Jing Cao, a seasoned Wall Street quantitative trading veteran, the platform operates on the principles of Efficiency, Resilience and Transparency. Let's delve into the key aspects that define AscendEX and its journey in the crypto space.

Rebranding for Leadership:

In a strategic move on March 22, 2021, AscendEX initiated a rebranding effort to position itself as a leading financial platform for cryptocurrencies. The aim is to blend the strengths of a centralized trading platform with the innovation of decentralized finance (DeFi), reflecting the platform's commitment to adaptability and growth.

Product Offerings and Security:

AscendEX caters to both retail and institutional clients in over 200 regions. With a product portfolio encompassing cash, margin and futures trading, the platform boasts over 200 trading pairs. However, the industry is not without its challenges, as evidenced by a security breach on December 11, 2021, where malicious actors accessed the exchange’s hot wallets, resulting in a reported theft of $77.7 million across Ethereum, Binance Smart Chain and Polygon.

Founder's Background:

Dr. Jing Cao, the visionary behind AscendEX, brings a wealth of experience to the table. Having served as Chief Investment Officer at Delpha Capital Management LLC and held key roles in renowned institutions like Knight Capital Group, Inc., Cao's leadership has been instrumental in steering AscendEX through the volatile crypto landscape. His academic background includes an undergraduate degree from the University of Science & Technology of China and a doctorate from The University of Chicago.

Global Headquarters and Restricted Countries:

While AscendEX is headquartered in Singapore, its services are not extended to residents of Singapore, China (Mainland), the US and certain US territories. Compliance with regional regulations is a priority and services are restricted in areas where crypto trading is banned.

Supported Coins and Trading Pairs:

With over 250 digital assets listed and more than 320 trading pairs available, AscendEX provides a diverse range of options for cryptocurrency enthusiasts. The platform caters to the dynamic preferences of its user base by continually expanding its offerings.

Fee Structure and Leverage:

AscendEX employs a tiered fee structure with nine VIP levels based on a user's 30-day trade volume and average ASD holdings. Fees vary for makers and takers, ranging from 0% to 0.2% depending on the user's VIP level and the type of asset traded. Furthermore, AscendEX supports margin trading with leverage options of up to 25X, providing users with flexibility in their trading strategies.

Conclusion:

AscendEX's journey in the cryptocurrency space reflects a commitment to innovation, security and adaptability. As the platform continues to evolve and navigate the challenges of the crypto landscape, users can expect a robust and feature-rich environment for their digital asset trading needs.

What is unique about AscendEx (ASD)?

AscendEX stands out for its global digital asset financial platform, offering a wide range of trading services across cash, margin and futures products. With a rebranding initiative to integrate centralized trading with DeFi, it aims to become a leading financial platform for cryptocurrencies.

Who are the founders of AscendEx (ASD)?

AscendEX was founded by Dr. Jing Cao, a Wall Street veteran with experience as the Chief Investment Officer at Delpha Capital Management LLC and CEO of HD Consulting Services Group, Inc. He has a strong background in quantitative trading and holds a doctorate from The University of Chicago.

Where can I buy AscendEx (ASD)?

You can buy AscendEx (ASD) on AscendEX (previously BitMax) cryptocurrency exchanges.

Information in this section carefully collected and curated from publicly available data from official sources, including the AscendEx Official Website, AscendEx Whitepaper and AscendEx X (Twitter) Account.

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