• Tether
    Media,  Opinion,  Tether

    Bloomberg’s Tether story doesn’t answer persisting questions

    Tether advocates rejoiced on Tuesday after a story by Bloomberg’s Matt Leising seemed to reassure readers that the stablecoin had enough dollars to back each token. “Bank statements reviewed by Bloomberg News suggest those fears may be unfounded,” Leising wrote. The story’s big contribution to the Tether debate was only that Bloomberg saw four separate months’ worth of Tether’s balances and each exceeded the amount of circulating tokens. Yet Tether’s bank balances should be expected to be positive at month’s end. As written in the often-cited study by John Griffin and Amin Shams of the University of Texas on alleged manipulation of Bitcoin prices using tethers: “the strong negative effect on…

  • Mick Mulvaney at Coin Center Annual Dinner, 2016
    Bitcoin,  United States

    New White House Chief of Staff: Bitcoin is good, ‘not manipulable by any government’

    President Trump says director of the Office of Management and Budget—and Bitcoin enthusiast—Mick Mulvaney will come on as acting White House chief of staff when John Kelly leaves the end of the year. Mulvaney will stay on at the OMB where he was narrowly approved by the Senate by just two votes in 2017. With the government headed to a potential shutdown over a budget disagreement, who better to step in than Mulvaney, one of the architects of the 2017 government shutdown? At the time, he said, “What we just did this week was fine and passable, but not ideal. … I think a good shutdown would be one that…

  • Nasdaq
    Bitcoin,  Innovators,  United States

    NASDAQ jumps on the cryptocurrency futures train

    The NASDAQ stock exchange will launch Bitcoin futures trading early next year, a spokesperson confirmed to Britain’s Daily Express on Monday. The world’s No. 2 stock exchange is awaiting approval from the U.S. Commodities Futures Trading Commission (CFTC), NASDAQ’s Joseph Christinat told the British tabloid, adding that NASDAQ is confident it will receive approval and begin trading in the first half of 2019. The Chicago Mercantile Exchange (CME) and Cboe Futures Exchange began futures trading in late 2017. These trades are settled in cash rather than in Bitcoin. With the confirmation of the long-rumored news, NASDAQ joins Intercontinental Exchange (ICE), owner of the New York Stock Exchange (NYSE), which has…

  • newspaper
    Alt coins,  Bitcoin,  Innovators,  Media,  United States

    Must-reads for Nov. 12, 2018: BitMEX pushes back, Galaxy’s lost in space, and CFTC punishes fraud

    BitMEX CEO defends the billion-dollar crypto exchange: ‘We don’t trade against customers’ (Yahoo Finance UK) Arthur Hayes, CEO of BitMEX, is countering allegations the world’s largest crypto futures exchange is trading against customers, giving preferential access to favored customers when servers go down, and makes money with its insurance fund (which appears as an asset on its balance sheet). He claims their trading desk is treated like any other customer, that BitMEX is working on its server problems, and that the insurance fund—which hasn’t been used in nearly two years—still serves to benefit its customers in times of volatility.   Execs are fleeing Mike Novogratz’s Galaxy Digital as the firm…