• Commentary,  People,  Regulation,  United States

    SEC Chairman Jay Clayton speaks on crypto, but leaves it to audience to connect the blocks

    NEW YORK—Securities and Exchange Commission Chairman Jay Clayton agreed to an on-stage interrogation by New York Times columnist and Dealbook founder Andrew Ross Sorkin Thursday night to discuss the impact of cryptocurrency and blockchain on markets. But after more than an hour of Q&A, including taking several questions from the audience of more than 500 people at the Times Center in Times Square, all we really learned was that Chairman Clayton’s wife does the driving, presumably so that he can catch up on his reading (he claimed it’s simply because she’s a much better driver). Clayton responded to several of Sorkin’s questions about how the SEC would likely regulate crypto…

  • Iran U.S.
    Bitcoin,  United States

    US sanctions Iranian Bitcoin addresses

    The U.S. Department of the Treasury took the historic step of adding two Bitcoin addresses to its list of sanctioned parties against two Iran-based individuals—Ali Khorashadizadeh and Mohammad Ghorbaniyan. Their bitcoin addresses, associated with the SamSam ransomware scheme, were key as they targeted over 200 known victims in the U.S., Canada, and the U.K. But what’s striking is how much money they managed to make. Through the magic of the blockchain, we can see every single transaction they’ve ever done in the two seized wallets. Some quick forensics don’t show any major withdrawals, like the kind you would see if the Feds emptied a bank account into an evidence bag.…

  • mom
    Alt coins,  Innovators

    Don’t fall for Initiative Q, the newest ‘get rich quick’ scheme making the rounds on the Internet

    Maybe you‘ve seen these get-rich-quick messages from a number of friends on social media. They’re giving you one of their few invites to something called “Initiative Q.” It’s often with  a link they want to tell all their friends about. If you share to Facebook, it automatically has “you” say this mouthful, word-for-word:   “Initiative Q is an attempt by ex-PayPal guys to create a new payment system instead of credit cards that were designed in the 1950s. The system uses its own currency, the Q, and to get people to start using the system once it’s ready they are allocating Qs for free to people that sign up now…

  • Bitcoin fire
    Bitcoin,  Cryptocurrencies,  Opinion,  Tether

    Crypto isn’t just having a bad month—this is a full-on crisis

    When history looks back at crypto years from now, the end of November 2018 will go down as a dark period. The drop in values over the past couple of weeks has been astounding, especially given what happened just before. Bitcoin started the month at $6,341, according to data from CoinDesk. The markets seemed content with prices remaining around that level. “Bitcoin volatility sinks to lowest in nearly two years,” proclaimed a Reuters headline on November 6. To be sure, weekly volatility—that is, standard deviation of prices—was at roughly 32 percent on an annualized basis, noted the piece. That was significantly lower than the 140 percent it experienced in February…