Newsflash: Bitcoin Surges to $7,500 on Bitfinex Due to Tether Implosion, Real Price $6,700 (CCN) When we broke news that Tether’s former bank, Noble, is in financial trouble and that a large holder of tether had trouble dumping a few million of them, we were originally going to title it “Tether’s collapse may have just begun.” But we didn’t. We should’ve, though. Anyway, you’re seeing a premium in bitcoin versus tether on some tether-only exchanges. You have holders of tether trying to get out by trading them for bitcoin, pushing up the price of BTC on those exchanges. Simultaneously, it’s lowering the price of USDT. At some point, tether—which is…
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Must-reads for October 4, 2018: TD Ameritrade finds futures in crypto, Manhattan real estate goes blockchain, North Korean crypto hackers starve Canadians
These are the crypto stories you should be following today
Stock brokerage giant TD Ameritrade bets on a new cryptocurrency exchange (CNBC) TD Ameritrade is getting into the crypto trading business by investing in ErisX, a crypto spot and futures exchange. “The crypto exchange is regulated by the Commodity Futures Trading Commission, a prerequisite for investing, [head of TD’s futures and FX trading JB] Mackenzie said. Certain aspects of the ErisX offering are still pending regulatory approval, a TD Ameritrade spokesperson said,” reports CNBC’s Kate Rooney. A First For Manhattan: $30M Real Estate Property Tokenized With Blockchain (Forbes) An East Village condo project is trying to get financing by turning to the Ethereum blockchain, because if there’s ever a…
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JP Morgan Chase & Co. CEO Jamie Dimon showing how he'd wring the neck of any one caught trading bitcoin on one of his trading desks. (via Wikipedia).Must-reads for September 13, 2018: Diamonds, Dimon, schmucks, and a trillion dollars worth of stories
Here are the crypto stories you should be watching today
Morgan Stanley Plans to Offer Bitcoin Swap Trading for Clients (Bloomberg) Morgan Stanley is joining the ranks of institutions by offering swaps to its clients, according to a report by Bloomberg’s Alastair Marsh. A source at the bank told Marsh that a swap product would launch once there’s enough institutional demand and after it gets through internal approvals. For the unfamiliar, a swap would essentially “swap” exposures of one asset with another. Let’s say fund has $1 billion in the S&P 500. They would then enter into an agreement with someone who has $1 billion in Bitcoin to trade returns. Thus if after the first three months the S&P 500…
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This looks like someone may be in trouble for evading taxes with cryptocurrencies (via Shutterstock)Five countries join forces to crack down on crypto tax crimes
Tax authorities from US, UK, Australia, Canada, and Netherlands coordinating enforcement
A group of five nations have formed an international alliance to fight cryptocurrency-related tax crimes and money laundering schemes. The Joint Chiefs of Global Tax Enforcement, or J5, includes tax agencies from Australia, Canada, the Netherlands, the United Kingdom, and the United States. Authorities from the five countries hope the collaborative effort will increase their success in combating cross-border tax crimes. “We will work together to gather information, share intelligence, conduct operations, and build the capacity of tax crime enforcement officials,” the group said on its new page on the IRS website, adding that J5 plans on piloting new approaches and conducting joint operations against offshore tax crimes. Cryptocurrency allows…
