Study Finds $3B Worth of Faked Cryptocurrency Volumes and Wash Trades
On March 10 a cryptocurrency trader and researcher published a report on how he believes $3 billion worth of cryptocurrency trade volumes, primarily from a couple of exchanges, are concocted. The author of the study, Sylvain Ribes, alleges that the exchange Okcoin has been fabricating up to 93 percent of its trade volumes. Also read: Thailand Dodges Extreme Cryptocurrency Regulations Massive Discrepancies Between Exchanges...
China’s PBOC Governor Speaks Against Speculative Cryptocurrencies
This week the People’s Bank of China (PBOC) governor, Zhou Xiaochuan, spoke about both public and privately issued cryptocurrencies. Zhou details that the central bank dislikes “speculative cryptocurrency products” and the bank does not officially recognize digital currencies like bitcoin. Further Zhou explains the bank is monitoring projects like bitcoin and initial coin offerings (ICO), and aims to ramp up...
Silicon Valley VCs Help Crypto Hedge Fund Reach Quarter Billion Target
With bitcoin hovering at around only $9,000 and the entire cryptocurrency market at similar low levels, short term speculators are acting as if a great calamity is upon us. Long term investors on the other hand are just entering the ecosystem now and building up a portfolio of assets that offer growth opportunities uncorrelated to stocks and commodities. Also Read: Chinese Internet Regulators Block Cryptocurrency Exchanges on Social...
South Korea Internet Giant Moves Deeper Into Crypto
What a week for the peninsular nation, 대한민국 Republic of Korea. Moon Jae-in’s administration appears to have brokered a potential meeting between heads of state to avoid nuclear holocaust, and in more practical terms local media is widely reporting regional internet giant Kakao will deepen its involvement with cryptocurrency in South Korea by incorporating crypto into its various, hugely popular,...
Bitmain Opens Repair Center in Russia
Leading manufacturer of crypto mining equipment Bitmain has opened a service center in Russia. Miners in the country will be able to repair their ASIC rigs locally, saving both time and money. Previously, they had to send faulty equipment back to China, dealing with customs formalities and paying costly shipping. Also read: Ant Creek: Is Bitmain Quietly Developing a Mining Facility in the US? Bitmain to Repair ASICs in Irkutsk...
