BitDigest June 12 · Issue #678
- Crypto markets fall 3% with yesterday’s stock market sell-off
- Indian government looking to stop crypto discussion with countrywide ban of digital currencies
- Estonia withdraws one-third of all crypto licenses in an effort to respond to money laundering accusation
More mistakes?
Two more transfers have occurred with significantly large fees, raising questions as to whether the sender confused the transfer amount and fee or an attempt to nefariously transfer money is occurring. In the first transaction yesterday, a user sent 350 ETH ($82,000) with a transaction fee of $2.5 million. Late yesterday a second ETH transfer occurred with someone paying $550,000 to send 3,221 ETH ($750,000).
Crypto Startup School
A16z’s (Andreessen Horowitz) Crypto Startup School has released three new videos to the library for its online class: How and Why to Decentralize Your Project with former a16z partner Jesse Walden and Compound CEO Robert Leshner, Developer Community Building with a16z partner Chris Dixon and Git-Hub CEO Tom Preston-Werner, and Managing a Distributed Workforce with a16z People Practice partner Tina Ferguson.
The Headlines
Indian Government Proposing Crypto Ban
Estonia Clamping Down on Crypto Firms
Emmer Calls for Greater Transparency at Fed
FinHub to Host Virtual Meetings
Judge Upholds Ruling Against Former Mt Gox CEO
Former Quandriga CEO Acted Like Madoff
Battle at Bitmain Suspending Shipments
Bitcoin IRA Launches Recurring Contribution Program
Vanguard Piloting Digitization of Asset-Backed Securities
Market Data
Three Arrows Reports 6.26% Holding in GBTC
Exchange, Custody and Product News
Kraken Introduces Stop Loss Limit and Take Profit Limit Orders
Binance Launches Quarterly Futures
BitPay Introduces Prepaid Crypto Card
Reports you may have missed
MARKET UPDATE U.S. EQUITY INDICES ARE MOVING LOWER, WITH THE SPY -1.00% TRADING AT $540.95 AND THE QQQ -2.03% SHOWING MORE PRONOUNCED LOSSES, TRADING AT $457.75. Economic data this morning exceeded expectations, with job openings and consumer confidence both surpassing estimates, although rates are still showing modest declines. Crypto assets are mixed, with BTC -1.88% holding slightly above $66k and ETH -1.67% gaining slightly to $3,320, and ETHBTC increasing above 0.05. Yesterday marked the...
CRYPTO MARKET UPDATE THE BIG NEWS THIS WEEKEND WAS THE SPEECH GIVEN BY FORMER PRESIDENT TRUMP AT THE BITCOIN CONFERENCE, WHERE HE OUTLINED HIS PLANS FOR INTEGRATING BITCOIN AS A STRATEGIC RESERVE ASSET. This announcement triggered significant volatility as traders placed highly leveraged bets in both directions. As the volatility settled, prices rallied from Sunday into Monday morning, with BTC -1.88% briefly rising above $70,000 on most exchanges for the first...
CRYPTO MARKET UPDATE AFTER ANOTHER DAY OF SIZEABLE OUTFLOWS FROM ETHE -1.46% , THE GRAYSCALE-ISSUED ETF NOW RETAINS JUST 85% OF THE AUM IT BEGAN WITH ON TUESDAY. However, crypto has rallied strongly since the US market closed yesterday, with BTC -1.88% briefly moving above the $68k level, ETH -1.67% rebounding sharply to $3,250, and SOL -4.51% revisiting $184. Among larger-cap tokens, SOL beta names including RNDR and JUP have outperformed over the past 24...
CRYPTO MARKET UPDATE CRYPTO WAS CERTAINLY LOOKING STRONG RELATIVE TO EQUITIES YESTERDAY UNTIL ASIAN MARKET HOURS COMMENCED. Shortly after the HK market opened, we saw increased sell pressure and approximately $100 million in liquidations across all crypto assets, bringing BTC -1.88% down to below $64,000, ETH -1.67% down to $3,150, and SOL -4.51% to just below $170. This contrast in price action during U.S. and Asia market hours has been consistent throughout July....
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