Crypto investment firm Grayscale has accumulated 3.4% of all bitcoins and is still buying voraciously, leading to concerns it will corner the market. Jim Rogers, a one-time George Soros partner, thinks governments will drive crypto underground if they become widely usable as cash, and current Jack Abramoff partner is finding out the hard way not to work on anti-money laundering tech (AML BitCoin in this case) with someone convicted of fraud and corruption. The Glupteba bot-net doesn’t get instruction directly, but by scanning Bitcoin’s blockchain for hidden clues.
The economy is doing Bitcoin no favors, with bad news and advancing COVID-19 pushing the still stock-market-aligned cryptocurrency within a few dollars of dropping below $9,000. Meanwhile, Ripple Executive Chairman Chris Larsen says China is winning the blockchain war. Researcher says Satoshi Nakamoto was AWOL from Bitcoin’s genesis block. New York is retreating ever-so-slightly from its super-strict BitLicense, making the prestigious but frequently fled crypto exchange qualification as it turns five.
Bitcoin has had an acceptable run in June, generally staying above $9,300 but rejecting $10,000 (except for a quick spike on June 1), according to CoinGecko. That may well change today, as the IMF’s June outlook is expected to be bad, pushing broader economic uncertainty higher. That generally means BTC volatility, but in which direction remains to be seen. Meanwhile, the prices of decentralized finance tokens are soaring. Newcomers Compound, a decentralized finance lender, and Balancer, an automated portfolio balancing platform, have been racking up huge gains in just the past 10 days. As these DeFi platforms woo liquidity providers with token rewards, “yield farming” can bring two revenue streams…
On a Monday when SEC chairman Jay Clayton’s imminent departure is bringing hope to the Bitcoin ETF masses, the main cryptocurrency is still bouncing up against the $10,000 barrier as the predicted bull run of the third Bitcoin halving hasn’t come yet. Bloomberg cites research suggesting BTC’s strength is declining. That said, Reports that PayPal and Venmo will soon add in-app bitcoin trading was enough to spark a mini rally. And now for something completely different: John McAfee is bringing his own brand of crypto crazy to distributed exchanges with the launch of his Ghost DEX. That’s a predecessor to his forthcoming Ghost privacy coin.