• Bitfinex
    Alt coins,  Bitcoin,  Cryptocurrencies,  United States

    Uncomfortable questions for Bitfinex and Tether as feds search for bitcoin manipulation

    It remains to be seen if Bitfinex and Tether are the subjects of a criminal investigation

    Two Bloomberg stories about bitcoin published within an hour of each other on Thursday seemed barely related. But to those who follow the space closely, they are really the same story—and it’s perhaps the biggest story in crypto, one that may yet turn out to be the Enron of the cryptocurrency world, if not worse. The first piece, which went live at 4 a.m. Eastern Time, said the Department of Justice is conducting a criminal probe into bitcoin price manipulation. The feds are said to be looking at the practices of spoofing and executing wash trades to move the price of the cryptocurrency. [“Spoofing” is when someone puts in a…

  • Wade Love
    Cryptocurrencies,  Ethereum,  Innovators

    Guy chugs beer and wins a $6,000 crypto mining computer

    The party has everything: billionaires on Skype, people tearing up money, and look over there—is that a contest to win a miner?

    The floor of the penthouse at Hotel on Rivington is littered beer foam and torn U.S. dollar bills. Max Keiser, the colorful commentator for RT—the Russian government’s mainstream propaganda cable network—tore the bills during his keynote speech while making a point about fiat money being worthless. This is the end of blockchain’s big Consensus conference. The consensus on Consensus is that blockchain technology will transform the world. But tonight it will transform the future prospects of one partygoer who won a $6,000 mining rig for chugging a beer. The opulent party was one of the few events listed during Consensus that was open to the public. One of the great…

  • Bitcoin pizza
    Bitcoin

    Crypto community celebrates Bitcoin Pizza Day

    Meme turns into blockchain’s only real holiday, and crypto Twitter is here for it

    On May 22, 2010, two pizza pies were bought by a person named Laszlo Hanyecz through a bitcoin forum. While the pies themselves were mundane, the transaction was revolutionary—they were bought with 10,000 bitcoins, worth roughly $41 at the time. Now that one purchase gages the health of the entire $258 billion cryptocurrency market. Even the some of the biggest cryptocurrency nuts probably couldn’t tell you if the bitcoin whitepaper came out in 2008 or 2009 (it was January 3, 2009). But while even fewer can tell you the day that Ethereum launched (July 30, 2015),many in blockchain can list May 22 as blockchain’s pretty much only holiday. Bitcoin Pizza…

  • Thomas J. Lee
    Bitcoin

    Bitcoin drops during Consensus, despite Tom Lee’s call for a rally

    Fundstrat chief expected a rally, got a drop instead

    Consensus 2018 has come and gone and if there’s just one takeaway, it’s this: Tom Lee has some bad timing. Fundstrat’s founder and head of research braced investors for a Consensus-based rally that just didn’t happen. On May 7, Lee wrote to his paying clients, “We expect the Consensus rally to be even larger than past years,” noting that bitcoin gained 69 percent during the Consensus 2017 and 138 percent over the following two months. Since attendance this year was already expected to be triple the 2,700 from last year, Lee argued, bitcoin should expect a big boost. Oops! Instead, bitcoin prices tanked. If one had taken Lee’s recommendation and…