Bitfinex, Tether (USDT) reach deal with New York State, pay $ 18.5m fine

Tether Ltd and Bitfinex will pay a fine of $ 18.5 million following an out-of-court settlement with the New York State Attorney General (NYAG). This agreement is the end of the legal drama for the USDT and the dispersal of a potential black swan for the entire market.

The end of a judicial soap opera

The exchange Bitfinex and its sister company Tether Ltd behind the stablecoin of the same name reached an out-of- court settlement with the New York State Attorney General’s Office (NYAG) after 2 years of litigation. As part of the deal, the two companies agreed to pay a fine of $ 18.5 million .

In April 2019, the New York State Attorney General filed a lawsuit accusing the Bitfinex exchange of using the reserves of its sister company Tether Ltd to cover a loss of $ 850 million . As a result, the Tether stablecoin (USDT) no longer had full convertibility into dollars.

Letitia James, New York State Attorney General, said:

“Bitfinex and Tether illegally and recklessly hedged significant financial losses to maintain their business and protect their bottom line (…) Tether’s claims that its stablecoin was fully backed by dollars at all times were a lie. “

Thus, Tether Ltd has long been accused of lacking transparency about its reservations. This matter was the focus of attention as it threatened the integrity of the USDT and therefore represented a systemic risk for the entire market .

The attorney general also demanded that Bitfinex and Tether cease operations in New York state . However, the loss of this market is anecdotal for both companies.

More transparency

As part of the deal, Tether also volunteered to provide the NYAG office as well as the public with a quarterly USDT reserves update .

Stuart Hoegner, Legal Counsel for Bitfinex, said:

“We share the Attorney General’s goal of increasing transparency … We would disclose to both the Attorney General’s office and the public additional information about Tether’s reserves on a quarterly basis. “

In the settlement agreement, the NYAG office also acknowledged the recent repayment of Bitfinex’s loan to Tether. In early February, the Bitfinex exchange claimed to have repaid its $ 900 million loan from its sister company.

With this out-of-court settlement, the USDT’s long legal drama comes to an end. Bitfinex and Tether say they have provided more than 2.5 million pages of documentation to the NYAG office to close this case.

Guggenheim CIO unter Beschuss wegen des Zeitpunkts seiner sich ändernden BTC-Stimmung

Der CIO von Guggenheim steht in den sozialen Medien unter Beschuss, weil er unterschiedliche Ansichten zu Bitcoin geäußert hat, anscheinend auf beiden Seiten einer großen Investition.

Der offensichtliche Wechsel von Guggenheim-CIO Scott Minerd von bullisch zu bärisch und wieder zurück zu beiden Seiten einer SEC-Anmeldung im Zusammenhang mit einer Investition von einer halben Milliarde Dollar in BTC hat in den sozialen Medien die Augenbrauen hochgezogen.

Die Beobachtung wurde gemacht, nachdem am 31. Januar ungefähr 500 Millionen US-Dollar an BTC von Coinbase in eine Reihe privater Geldbörsen verschoben wurden, was einem Betrag und einem Datum des Inkrafttretens in einer SEC- Einreichung des Guggenheim Funds Trust entspricht.

Vor der Einreichung machte Bitcoin Investor am 21. Januar Schlagzeilen, als er BTC darauf hinwies, dass ein „vollständiges Retracement zurück auf das Niveau von 20.000“ zu erwarten sei und dass es unwahrscheinlich sei, dass es vor 2022 einen höheren Kurs erreichen würde .

In einem Interview mit Bloomberg Television am 27. Januar sagte er, dass die institutionelle Nachfrage nach Bitcoin nicht hoch genug sei , um sie über 30.000 USD zu halten

Aber seit dem 31. Januar hat Minerd seine High-End-Preisschätzung für Bitcoin erheblich erweitert und behauptet, dass es in einem Interview mit CNN am Dienstag aufgrund seiner Knappheit und des Goldwerts das Potenzial haben könnte, 600.000 US-Dollar zu erreichen . Dies lag an seiner Schätzung vom Dezember, die auf Untersuchungen und Analysen von Guggenheim Partners beruhte und ergab, dass der faire Preis von Bitcoin langfristig bei rund 400.000 US-Dollar liegt .

Viele glaubten, dass sie eine große Diskrepanz in der öffentlich ausgestrahlten Stimmung erlebten, die Guggenheim bewusst zugute gekommen sein könnte, und gingen zu Twitter und Reddit, um Minerds scheinbar gegensätzliche Aussagen sowie ihren Zeitpunkt und ihre Bedeutung hervorzuheben .

Einige bezeichneten es als Manipulation und andere als „ FUD “, obwohl es keine Beweise dafür gibt, dass Minerd nicht einfach auf sich schnell bewegende Ereignisse auf den Kryptowährungsmärkten reagiert

„Ich habe das die ganze Zeit gesagt“, sagte Benutzer Asher68W auf Twitter. „Guggenheim hat im Dezember mit dem Kauf von Bitcoin begonnen. „Als der Preis im Januar stieg, hat Minerd BTC in den Medien vernichtet, um den Preis bis zum Ende des Kaufs niedrig zu halten.“

Guggenheim Partners, ein Finanzdienstleistungsunternehmen im Wert von 275 Milliarden US-Dollar, traf die Entscheidung, öffentlich in Bitcoin zu investieren, mit der Einreichung einer SEC-Änderung im November 2020, in der 500 Millionen US-Dollar für eine Investition in den Grayscale Bitcoin Trust bereitgestellt werden sollten .

Eine Bitte um Stellungnahme von Guggenheim Investments, der globalen Vermögensverwaltungsabteilung von Guggenheim Partners, erhielt keine sofortige Antwort.

Argentinian company Ripio takes over Brazil’s second largest crypto exchange

The Argentine crypto company Ripio has taken over the second largest crypto exchange in Brazil called BitcoinTrade.

Ripio, a digital asset company from Argentina, has bought the major Brazilian crypto exchange BitcoinTrade

According to the Argentine newspaper Ambito it came under the plan of Ripio to expand in South America, this acquisition . BitcoinTrade is the country’s second largest crypto exchange by volume.

Sebastián Serrano, the CEO and co-founder of Ripio, said it was acquired to „expand access to the world of digital assets“ in the region.

„We are convinced that Ripio is the best company to continue the path we started with BitcoinTrade in Brazil,“ said BitcoinTrade founder Carlos Andre Montenegro

Ripio was founded in 2013 and claims to be one of the largest crypto exchanges in South America. She has employees in Argentina, Brazil, Mexico, Uruguay and Spain. The company launched an over-the- counter crypto trading platform in 2019 and became one of the World Economic Forum’s tech pioneers last year .

In November, an Argentine legislature proposed creating a national framework for crypto in Argentina. The bill aims to solve the problem of the „very arbitrary rules“ governing Argentina’s crypto ecosystem.

Crypto.com receives regulatory approvals from the Maltese authorities

Crypto.com is one of the first crypto companies to obtain two important licences from the Maltese regulatory body

Crypto.com, a crypto currency exchange and debit card provider, has received important regulatory approvals from the Maltese government.

According to an announcement on 24 November, the Malta Financial Services Authority, or MFSA, has granted Crypto.com formal approval for two financial licenses: a Financial Institution License and a Class 3 Virtual Financial Assets License, also known as the Class 3 VFA License.

Once the official conditions are met, the Financial Institution License will allow Crypto.com to provide payment services and issue electronic money. The Class 3 VFA License allows Crypto.com to offer investment management, custody and trading services to both professional and non-professional investors.

As stated in the announcement, Crypto.com is one of the first crypto companies to receive these regulatory approvals from the MFSA after the agency approved the first VFA Agents in May 2019. Prior to obtaining these licenses, Crypto.com operated in Malta under the transitional provisions of the VFA Act.

Kris Marszalek, co-founder and CEO of Crypto.com, explained that the company hopes to obtain new regulatory approvals in other markets over the next year.

Known in the crypto community as „Blockchain Island,“ Malta has long worked actively to establish crypto regulation in the country.

In 2018, the Maltese government introduced three laws to establish a regulatory framework for cryptos, confirming its focus on the development of the bitcoin formula industry. However, it seems that several startups in this area have decided to leave the country due to an apparent lack of clarity. By April 2020, the MFSA had not even issued a crypto license.

In July 2020, the Maltese government announced a departure from its old blockchain programme to take a more comprehensive approach to regulating the digital economy.

How US authorities forgot to seize $ 400,000 in fake Bitcoin linked to Silk Road

Shitforks hang out in the wild – Despite its closure by the authorities in 2013, the Silk Road black market is still talking about it. It turned out today that, on the wallets seized since, many coins from Bitcoin forks (BTC) have not (yet?) Been recovered by the police.

Over $ 1 billion worth of BTC straight from 2013

The taking of Silk Road offline and the arrest of its founder, Ross Ulbricht , in 2013 were also an opportunity to freeze Bitcoin wallets belonging to this darknet black market.

These addresses thus remained frozen long before the king of cryptos knew any direct fork – Litecoin and Dogecoin, which date from this time, are indeed separate blockchains , not forks of BTC.

The blockchain transaction analysis company Coinfirm thus noticed that some of the (too) many Bitcoin forks had not been recovered by the American authorities.

The latter announced that they had seized 69,370 bitcoins , or approximately $ 1.3 billion , from an anonymous person who allegedly hacked wallets from the famous black market.

Even though the authorities have obviously thought about recovering the most famous forks , like Bitcoin Cash (BCH) and even BSV , others have been left out.

400,000 dollars in forgotten shitforks

According to Coinfirm, the hacker – who would not have been worried in exchange for his collaboration – would have, on his address, still at least $ 400,000 in cryptocurrency from forks. It would be:

693,701 Bitcoin Diamond (BCD), valued at $ 310,000;
69,370 Super Bitcoin (SBT), valued at approximately $ 66,000;
69,370 Bitcoin Private (BTCP), or nearly $ 11,000.
Thus, anyone who has access to the private keys of the hacker’s wallet can still have these untapped funds.

BTC market cap could overtake Canadian dollar

Bitcoin market capitalization is overtaking the money bases of many countries. The Canadian dollar is arguably next.

When Bitcoin Storm broke the $ 14,000 mark, its market capitalization surged above the monetary base of the Russian ruble .

This includes both physical currency and bank reserves, which are usually held by a country’s central banks

The above chart may seem complicated at first, but it only compares gold, silver, bitcoin and the rest of the global money bases. We can see that the US is 4.9 trillion. Holding US dollars in physical notes, coins and bank deposits at the US Federal Reserve. If we divide that number by the current 18.5 million BTC, we get to the above $ 263,000.

For Bitcoin’s market capitalization to match the US monetary base, the price would have to be above $ 263,000. At first glance, that seems far-fetched. But BTC has already overshadowed several currencies, such as the Brazilian real, the Swedish krona and the South Korean won.

For a cryptocurrency that’s only 11 years old, that’s no mean feat. According to Fernando Ulrich, the economist behind Crypto Voices, the 30 largest countries cover 95 percent of GDP with their base funds. In addition to the euro being the currency of many countries, some of the 113 leading countries have pegged their currencies to the US dollar.

The researchers at Crypto Voices therefore came to the conclusion:

„So far, the money monopoly ‚works‘ for the central banks and their governments. It is practically free: Fiat has proven to be almost ‚independent‘ of the gold market value.“
The researchers explained:

„As for #Bitcoin, if it gets big enough to appear on this chart and / or be held by central banks, then and only then will we get an idea of ​​what Bitcoin ‚costs‘ central banks“.
Some people might interpret the analysis as pessimistic, but basically it’s just the opposite.

The researchers at Crypto Voices conclude that central banks and governments have previously been able to print money regardless of their gold holdings. So you don’t have to look for a new „gold standard“ or something similar anytime soon.

According to the researchers, inflation is gradually depreciating fiat currencies. This caused Bitcoin to overtake a number of currencies as they were overprinted. In fact, 2020 saw the largest global monetary expansion ever.

31,5 mln $ Bitcoin Satoshi-Era może być na sprzedaż

Bitcoin z ery Satoshi został skonsolidowany w dwa portfele zbiorcze posiadające łącznie 2050 BTC o wartości 31,5 miliona dolarów.

Konsolidacja może być prekursorem sprzedaży tych sprzed dziesięcioleci monet na rynku

Masowa sprzedaż 2050 BTC i rosnące odpływy górników na giełdy mogą spowodować znaczny spadek ceny bitcoinów.

Chcieć wiedzieć więcej? Dołącz do naszej grupy Telegram i otrzymuj sygnały handlowe, bezpłatny kurs handlu i codzienną komunikację z fanami kryptowalut!

Trust Project to międzynarodowe konsorcjum organizacji informacyjnych budujących standardy przejrzystości.

Kilka skonsolidowanych masowych kwot Bitcoin Gemini o wartości 31,5 miliona dolarów, nietkniętych przez dziesięć lat, może wkrótce zostać sprzedanych na rynku w miarę kontynuacji obecnych wzrostów cen.

Ruchy BTC z ery Satoshi często przyciągają znaczną uwagę w przestrzeni kryptowalut. Zwykle koncentruje się na określeniu, czy monety są częścią skrytki wydobywanej przez twórcę Bitcoina według „ wzoru Patoshi ”.

2050 BTC wkrótce trafi na rynek?

Tweetując 9 listopada, analityk Bitcoin @murphsicles ujawnił konsolidację 1000 BTC (~ 15,5 miliona USD) z adresów, na których znajdują się nagrody blokowe sprzed dekady. Dane z blockchain.com pokazują zestawienie 50 BTC w nagrodach za monety z 20 różnych adresów.

Przed pierwszym halvingiem bitcoina w 2012 roku górnicy zarobili 50 BTC w nagrodę za pomyślne wydobycie bloku transakcji.

Jak widać na poniższym obrazku, podmiot odpowiedzialny za roll-up podzielił również 1000 BTC na natywne adresy bech32 SegWit.

Bitcoin w ruchu ery Satoshi?

Roll-up o 1000 BTC to drugi taki ruch w mniej niż tydzień. Wcześniej w listopadzie kolejna partia nagród z bazy monet z ery Satoshi z 21 adresów została również przeniesiona do skonsolidowanego skrytki o wartości 1050 BTC (~ 16 milionów USD).

Skarb 1050 BTC ma wyjątkową jakość adresu ze wzoru Patoshi. Równie istotny jest fakt, że ten sam adres pojawia się również w 1,1 mln dokumentów BTC Tulip Trust.

Rzeczywiście, rok 2020 był świadkiem wielu ruchów dużych kwot bitcoinów. Przestrzeń kryptowalut była pełna spekulacji, gdy ponad 1 miliard dolarów w BTC przeniosło się w noc wyborów w USA. Jak się okazało, Departament Sprawiedliwości Stanów Zjednoczonych (DoJ) objął 69 369 BTC przechowywanych w portfelu z powiązaniami z Silk Road.

Trader spoke about negative scenario for bitcoin price

Financial market forecasts are the private opinion of their authors. The current analysis does not constitute a trading guide. ForkLog does not assume any responsibility for the results that may arise from the use of the trading advice provided in the reviews.

The current market situation is described by trader Ilya Meshcheryakov.

The positive results of last week were almost completely leveled out today. Bitcoin managed to set a new global maximum from January 2018 at $ 14,100, but immediately followed a significant setback and at the time of writing the review the crypt currency is traded near $ 13,400.

Let us start with the technical picture – an unsuccessful attempt to break through the resistance of $13,860 could mean that there is no short-term interest in going beyond the current sideways movement.

I have already written in previous reviews that we should not wait for a sharp collapse in the drawdown scenario, as there are large positions that can only be eliminated in a long flute.

The key support area remains unchanged – only a breakthrough of $12,700-$12,800 can give a strong push to the decline. On the horizon of a few days, the price should test it again, but a true break-up is unlikely, it is more likely to be due to the crowding out of buyers who have made hasty purchases for a break-up of $14,000.

The external backdrop continues to deteriorate as all markets closed in the negative zone last week. The beginning of this week is mixed – oil prices continue to fall and stock indices are on a weak positive side.

The trend towards exit from risk assets continues and demand for safe instruments is growing. It is worth noting that this trend has been observed for several weeks now, but bitcoin looks noticeably better than the rest of the risk asset market, which may be due to the time lag and normal speculation. Or that there is really no correlation, and it was all just a coincidence.

Implementing a negative scenario could bring the first crypt currency to $12,500 just by triggering stop orders below the current trend zone. The next goal of this scenario is $12,000 as the previous resistance zone, which has not yet been tested.

It is difficult to identify targets for a positive scenario because Bitcoin has already broken through its global highs. We can only focus on the psychological mark of $15,000.

Thus, the first crypt currency is experiencing more and more problems in forming new price highs, after which strong pullbacks occur. However, Bitcoin is still above key support areas despite the negative external backdrop. My long-term forecast remains moderately negative, but it should not be realized in the form of transactions until the break-up of the $12,700-$12,800 zone.

Predicción de precios de Bitcoin: BTC/USD se mantiene por encima de la Zona de Soporte Crítico a 11.300$, intenta romper el rango de precios

Predicción de precios de Bitcoin (BTC) – 18 de octubre de 2020

El precio del BTC/USD se ha estancado por encima del soporte de 11.300 dólares. El movimiento del precio es insignificante ya que el mercado se mantuvo dentro de un rango. Las zonas críticas de soporte de 11, 100, 11.200 y 11.300 dólares permanecen intactas mientras el precio continúa consolidándose.

Niveles de resistencia: 10.000, 11.000, 12.000 dólares
Niveles de apoyo: 7.000, 6.000, 5.000 dólares.

El precio de Bitcoin se ha estancado entre 11.200 y 11.440 dólares. El rey moneda ha estado negociando marginalmente desde el 16 de octubre. La supervivencia de la cripta es el mantenimiento de las zonas de soporte críticas. En el lado positivo, una ruptura catapultará a BTC a través de las zonas de soporte críticas hasta el máximo de 11.800 dólares. En el lado negativo. Si los osos atraviesan las zonas críticas de apoyo y se rompen los 11.000 dólares de apoyo, Bitcoin reanudará un movimiento descendente hasta los mínimos anteriores. Hoy, BTC está cotizando a 11.410$ mientras los toros empujan el precio al alza. Si el precio rompe los niveles de resistencia, se producirá una nueva subida.

Análisis del indicador de Bitcoin (BTC)

Bitcoin está en el nivel 53 del período del Índice de Fuerza Relativa. La moneda ha vuelto a la zona de tendencia alcista y está por encima de la línea central 50. Los SMA de 21 y 50 días están inclinados hacia arriba indicando el movimiento ascendente. La acción del precio está mostrando señales alcistas a medida que la moneda se mueve hacia arriba.

Bitcoin está operando actualmente en un rango estrecho, si los toros no logran romper los niveles de resistencia, entonces seguirá la reacción bajista. El análisis de la herramienta Fibonacci ha indicado una posible caída de Bitcoin. Es decir, el 16 de octubre la tendencia a la baja, el cuerpo de la vela retrazada probó el nivel de retrazado de Fibonacci del 78,6%. El retroceso implica que Bitcoin seguirá bajando hasta el nivel 1.272 de extensión de Fibonacci. En otras palabras, la moneda caerá a un nivel bajo de 11.065 dólares. El mercado reanudará un movimiento alcista después de caer al anterior lo

Fidelity Report: Bitcoin has enormous potential

A new report from U.S. asset manager Fidelity is remarkably optimistic about Bitcoin (BTC) and the rest of the crypto space.

In the future, the interest of institutional investors should increase Bitcoin’s market capitalization by hundreds of billions of dollars. Is Bitcoin massively undervalued?

Following the recent announcement of investments in Bitcoin Loophole platform by MicroStrategy and Square, one of the world’s largest asset managers is now taking the floor.

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Fidelity Digital Assets, published a report entitled „Bitcoin Investment Thesi“. In this report, Fidelity explains how portfolio managers increase their returns by holding Bitcoin.

Using a variety of fundamental data, Fidelity analyses the Bitcoin network. In addition, several sample portfolios illustrate the performance advantages of a diversified portfolio containing BTC.

According to Fidelity, generational change and new forms of media consumption in particular are seen as driving forces for the future growth of digital assets:

Financial media and the way people consume investment information are changing. This is happening against the background of a massive generational transfer of assets. Bitcoin has the potential to be the first asset to capitalize on these developments.

Fidelity compares crypto market with investments in emerging markets in the late 1980s

The acceptance of Bitcion and other crypto currencies can be compared to the acceptance of emerging market equities in the late 1980s.

Similar to crypto space today, there were concerns about volatility and liquidity at that time. Nevertheless, over time, many investors recognized the potential of emerging markets and invested early.

Today, investments in emerging market equities account for 11 percent of the global stock market – a tremendous growth. Can the Bitcoin share price also benefit from institutional investments in the coming years?

Cathie Wood, Head of Department at Fidelity, believes it is possible that Bitcoin will follow a similar path to the emerging markets.

In the USA, myopia prevailed. Investments in emerging markets were not recommended. Bitcoin today can therefore be compared to the situation at that time.

What does this mean for the future of BTC?

The participation of traditional institutions in Bitcoin is at the highest level ever.

In addition, Krypto YouTuber Quinten Francois commented on the trend and illustrated the development in an interesting graphic by Coin98 Analytics.

Not only have Square and MicroStrategy invested in BTC in 2020; there are now more than ten public companies holding a total of over $7 billion worth of BTC. Furthermore, Grayscale alone holds more than 2.6 percent of the total Bitcoin circulation.

Fidelity believes that steadily declining bond yields and the expansive monetary policies of central banks are driving more asset managers worldwide to alternative investments such as Bitcoin.

In a most optimistic forecast of the Fidelity report, the market capitalization of Bitcoin could thus rise up to two trillion dollars.

In addition, assets such as crypto-currencies that are negatively correlated or have low correlations with the rest of the global market offer portfolio managers enormous advantages in managing assets.