As the QuadrigaCX saga continues to play out, Coinbase CEO Brian Armstrong has jumped into the fray. The chief executive at the largest U.S. exchange suspects that management at its largest Canadian competitor is using its founder’s death to cover up what could be a massive fraud.
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As the US dithers on regulating cryptocurrencies, other regions move forward
Support for blockchain technology is stronger both in the US and abroad
Cryptocurrency and blockchain enthusiasts were excited about the announcement this week that President Donald Trump plans to name Office of Management and Budget Director Mick Mulvaney, a longtime supporter of cryptocurrencies and blockchain technology, as his interim White House chief of staff before the end of the year. As a congressman, Mulvaney was a co-founder of the Congressional Blockchain Caucus. When it comes to actually embracing cryptocurrencies, the U.S. has been generally skeptical. As a recent opinion piece in the Harvard Business Review by law firm Jones Day blockchain initiative leaders Stephen J. Obie and Mark W. Rasmussen noted: “Without clear regulations, cryptocurrency innovation in the United States is being stifled.…
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Bitfinex’ed tells (almost) all about Tether: The Modern Consensus interview
Anonymous critic of Tether and Bitfinex explains why bitcoin is headed to $15
As pressure mounts on Tether, its harshest critic—the anonymous “Bitfinex’ed”—does an interview with Modern Consensus. Reveals how he—or she—first started investigating Bitfinex and Tether. Claims 2016 hack of 120,000 bitcoins on Bitfinex was an inside job at the highest levels. Argues almost nothing backs up billions in outstanding Tether tokens; suspects recent reports were a “forgery.” Presents bleak view of cryptocurrency and blockchain’s future. Justifies a $10 to $15 price target for bitcoin (yes, you read that right). The vice is tightening on Tether and that could have devastating repercussions on the $200 billion cryptocurrency market. Though over $2 billion worth of the “stablecoin” is circulating, it has an…
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Analysis: Exchanges’ mistakes could wreck the cryptocurrency markets
Cryptocurrency prices have had a meteoric rise over the past month as established securities markets embraced the asset class. However, the exchanges that have opened cryptos to the retail public may be the rally’s undoing. Bitcoin (BTC) in particular has had a tremendous run-up. On October 31, 2017, when the CME Group announced it was launching bitcoin futures, the cryptocurrency was trading at $6,128, according to Bitcoin.com. A little more than a month later, when neighboring rival Chicago Board of Options Exchange (CBOE) jumped ahead and launched its futures on December 10, bitcoin changed hands at $14,492. To put it in perspective, it took the S&P 500 more than six…
