Slight Slump in Markets Continues, Ethereum Trades Below $200

Tuesday, Oct. 30: Crypto markets are mostly trading sideways after the recent drop-off that took place on Monday, Oct. 29. The top 20 cryptocurrencies by market cap are seeing mixed signals with insufficient fluctuations, with total market capitalization hovering around $203 billion.

Market visualization from Coin360

Market visualization from Coin360

After dipping below the $6,400 threshold yesterday, Bitcoin (BTC) has been trading around $6,330 for the most part of the day. As of press time, the major cryptocurrency is slightly down 0.13 percent, and is trading at $6,299, with an intraday high of $6,364.

Bitcoin weekly price chart

Bitcoin weekly price chart. Source: Bitcoin Price Index

Ethereum (ETH) is down around 0.27 percent over the past 24 hours, trading at $196 at press time. The second cryptocurrency by market cap dipped below the $200 price point yesterday, and has since been hovering around the same levels. Recently, Cointelegraph reported that the Ethereum Enterprise Alliance (EEA) released new standard specifications for developers using the Ethereum blockchain.

Ethereum 30-days price chart

Ethereum 30-days price chart. Source: Ethereum Price Index

In contrast, Ripple (XRP), the third top cryptocurrency by market cap, has seen a slight rebound after yesterday’s sell-off. At press time, the coin is up around 0.6 percent, and is trading at $0.442. On the week, Ripple is down around 1.4 percent.

Ripple 30-days price chart

Ripple 30-days price chart. Source: Ripple Price Index

After dropping to as low as $201 billion yesterday, total market cap has been hovering around $203 billion for the most part of the day, amounting to $202.8 billion at press time.

Total market capitalization daily chart

Total market capitalization daily chart. Source: CoinMarketCap

VeChain (VET)  is down more than 3 percent over the past 24 hours, trading at $0.01. According to CoinMarketCap, the coin is down over 10 percent over the past 7 days.

The recent drop-off in crypto markets is in line with a number of the industry-related events that took place on Monday, Oct. 29. Speaking at a recent interview at the 2018 Canada FinTech Forum, former U.S. Federal Reserve chair Janet Yellen argued that Bitcoin is “anything but” a useful store of value. Yellen pointed out low volumes of transactions, slow capacity in “handling payments,” as well as “difficulty” caused by Bitcoin’s “very decentralized nature.”

Also on Monday, the U.K.’s Financial Conduct Authority (FCA) claimed that the agency will consider banning sales of crypto-based derivatives, including contracts for difference (CFDs), options, and futures. The announcement followed a report by the U.K. Cryptoassets Taskforce, which suggested changes to cryptocurrency regulations and raised questions about the existing rules of trading digital assets.

Unocoin Founder Recounts His Arrest Following Indian Crackdown on Bitcoin ATMs

Just one week ago, Indian officials arrested the co-founder of an Indian cryptocurrency exchange, Unocoin, for operating a Bitcoin ATM kiosk which the police called “illegal”. One of Unocoin’s co-founders has now given a recount of his arrest in a recent interview.

The Unocoin co-founder’s arrests were largely publicized and was seen by many as the Indian government’s way of flexing their muscles against the cryptocurrency industry, which they have been at war with since they first barred crypto exchanges from engaging in banking relationships earlier this year.

On October 23, Harish BV, one of the co-founders, was arrested at the Kemp Fort Mall in the southern city of Bengaluru just a week after Unocoin had installed, what it has advertised as, India’s first-ever Bitcoin ATM. Harish was working on the ATM and making sure that all the systems were flawless and fully operational before it went live.

Indian Government Not Wanting Exchanges to Bypass Ban Via Bitcoin ATMs

The ATM was unique in that it was meant to be a fiat gateway for Indian cryptocurrency investors looking to trade cryptocurrencies, as they could deposit funds that could in turn be used to trade cryptocurrency on the Unocoin platform. Users would also be given the opportunity to withdraw funds from their account.

Harish said that the operational tests and upgrades were in their final stages when police entered the mall and took him in for questioning. After questioning, they took him into custody, claiming that the ATM had violated Indian law as it lacked the required approvals.

The next day, Sathvik Vishwanath, another Unocoin co-founder, was also arrested by the police.

The kiosk cleverly exploited a loophole in the government’s so-called “cryptocurrency ban”, as it allowed investors to deposit and withdraw funds by removing the banking middle-man. The arrests were likely the governments way of saying that they will not tolerate exchanges utilizing any loopholes to bypass the banking relations ban.

After posting bail, Vishwanath recounted the situation to Quartz India, saying:

“I knew this was coming after Harish was charged. I was at home that morning, trying to figure out what needs to be done to get Harish out of police custody, when the officials came to my house. They took me for questioning and later I was also charged and sent to judicial custody.”

He also noted that the police had unfoundedly accused his exchange of duping customers, saying that he had “promised 2x returns” and was “trying to cheat customers”. Vishwanath noted that his exchange has never made any such promises to their clients, and that they have never received a complaint regarding anything of the sort.

The police’s cybercrime department also spoke about the arrests, saying that the exchange had not received permission from the state government to operate the kiosk, and further noted that they were operating “outside the remit of the law”.

Swaroop Anand, the lawyer representing the Unocoin co-founders, spoke about why the government’s actions were not justified, saying that the mall in which the kiosk was located would have already received the necessary approval and licensing to hold a kiosk of this sort.

“It is a kiosk that is being set inside the mall and the mall would have had already taken trade permissions. Therefore, there was no need for Unocoin to take any other permission and there had not been any violation of licence requirements.”

It still remains to be seen whether or not the police will begin arresting other cryptocurrency exchange executives on baseless charges in an effort to censor the industry.

Featured image from Shutterstock.

Former U.S. Federal Reserve Chair Janet Yellen: ‘I Am Not a Fan of Bitcoin’


Former U.S. Federal Reserve Chair Janet Yellen: ‘I Am Not a Fan of Bitcoin’

On Monday (29 October 2018), Janet Louise Yellen, the Chair of the Board of Governors of the Federal Reserve System from 3 February 2014 to 3 February 2018, speaking at the 2018 Canada Fintech Forum (held in Montreal), told the audience that she was not a fan of Bitcoin, and then proceeded to explain why.

Of course, this was not the first time that the former Fed Chair was expressing her disdain for Bitcoin.

According to CNBC, at a press conference following the two-day Federal Open Market Committee (FOMC) meeting in Washington, D.C. on 13 December 2017, Yellen had this to say about Bitcoin:

“Bitcoin at this time plays a very small role in the payment system. It is not a stable source of value and it does not constitute legal tender. It is a highly speculative asset.”

And when asked if the Fed was considering creating its own cryptocurrency, she answered:

“I really want to caution, this is not something the Federal Reserve is seriously considering at this stage. While we’re looking at research on this topic, there are, I think to my mind, limited benefits from introducing it, a limited need for it and some substantial concerns.”

Now, coming back to yesterday’s event in Montreal, Francis Pouliot, founder and CEO of Satoshi Portal, who was among the audience, sent out this tweet with an attached video clip of Yellen’s speech:

Here were Yellen’s main reasons for not being a fan of Bitcoin:

“I know there are hundreds of cryptocurrencies and maybe something is coming down the line that is more appealing, but I think first of all, very few transactions are actually handled by Bitcoin, and many of those that do take place on Bitcoin are illegal, illicit transactions.”


“It has long been thought that for something to be a useful currency, it needs to be a stable source of value, and Bitcoin is anything but. So, it’s not used for a lot of transactions; it’s not a stable source of value; and it’s also not an efficient means for processing payments. It’s very slow in handling payments.”

Yellen also said that because of Bitcoin’s decentralized nature, “the amount of energy that is used to process transactions and the cost of them is very high in comparison with the means of payments we use ordinarily.” 

Featured Image Credit: Photo via

New Bank of America Patent Hints at Plan to Store Cryptocurrency Keys

Bank of America was awarded a patent for a device that stores cryptographic keys on Tuesday, and the document’s details hint at applications for cryptocurrencies.

In a patent awarded Tuesday by the U.S. Patent and Trademark Office, the bank outlines a “hardened storage device” for storing private keys – such as those used for blockchain platforms – explaining that, at present, most keys are stored locally protected by nothing more than a password.

“In specific embodiments of the system, the authentication routine is conducted as part of a crypto-currency transaction, a blockchain transaction or the like,” the patent states.

The patent references “crypto-currencies” several times, though overall, the document leaves it open keys of other sorts to be applied to the proposed device.

According to Bank of America, given that computers storing these keys are usually connected to the internet or other public networks, local storage means that they “are continuously susceptible to being misappropriated.”

“Therefore, a need exists for a secure means for storing private cryptography keys,” the patent goes on to state, specifying that this storage method should “reduce the risk” of a user’s private keys being stolen.

That Bank of America would suggest that its technology patents could be applied to the realm of cryptocurrencies and blockchain isn’t surprising, given that the firm is a prolific filer of patents in this area.

As Fortune reported in June, Bank of America has sought patent rights to dozens of possible applications in an effort to “be prepared” for future uses.

“While we’ve not found large-scale opportunities, we want to be ahead of it we want to be prepared,” CTO Catherine Bessant was quoted as saying at an event in New York.

Bank of America image via Tero Vesalainen / Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Data Shows Millions Leaving Crypto Wallets Tied to Long-Troubled Exchange

The world’s largest cryptocurrency exchange Binance has frozen accounts that received more than 93,000 ether from two wallets indirectly linked to the troubled Russian exchange WEX.

The accounts were frozen on October 25, Leah Li, a spokeswoman for Binance, told CoinDesk. The action was taken in response to pleas from WEX users who have been watching the ethereum blockchain, the known location of a public wallet belonging to the WEX exchange, uneasily in recent months while they have been unable to withdraw their funds off the exchange.

These users traced the flow of funds through the ethereum blockchain and concluded that the two wallets that sent the ether to Binance – in 25 transactions from August through October – were controlled by entities related to WEX. The traders have expressed concern that they won’t get their money back now that the funds have been moved to Binance.

They are worried because WEX, a successor to the defunct BTC-e exchange that inherited its infrastructure, has not allowed withdrawals for major cryptocurrencies like bitcoin and ether since July. Given a lack of answers or clarity about the state of affairs at WEX, frustrated users began filing police reports with Russian authorities earlier this month.

Hundreds of users appear to be affected by WEX’s ongoing withdrawal issues, judging from the size of the Telegram chat groups devoted to discussing the situation; one has more than 1,000 members, another focused on filing police reports has more than 400.

And at least $18 million is now believed to be at risk, based on the market value of the ether that flowed into Binance. The total figure could be higher, since only ether has been spotted leaving Wex-linked wallets so far, and users have been unable to withdraw most other coins for months.

The situation underscores the risks crypto users have long faced when trusting exchanges with their money. WEX opened for business shortly after the U.S. government shut down BTC-e July 2017, slapping it with a multi-million dollar fine. WEX founder Dmitrii Vasilev framed the new exchange as a re-launch of BTC-e and said he was working with the old platform’s administrator and would restore its customers’ balances.

For almost a year, WEX functioned normally and had the full trust of former BTC-e users, some of them told CoinDesk. But the situation has gone quickly south, perhaps best exemplified by the highly inflated prices for many of the exchange’s trading pairs.

“Help us to return our money!” a trader named Maxim M. wrote in an Oct. 20 email to Binance and shared with CoinDesk. “If you don’t want to follow the path of BTC-e, which was closed down by the authorities following its use in the laundering of cryptocurrency stolen from Mt. Gox, you should suspend all the WEX’s wallets and accounts.”

Vasilev did not respond to requests for comment for this story.

Binance’s Li said the Malta-based exchange was “not familiar with the specific situation at WEX,” but “we always investigate user claims thoroughly and we will suspend account access if any unusual activity is detected.” She added:

“We are encouraging users who may be impacted to file reports with local law enforcement and ask them to send us case numbers or official notices/letters of investigation. So far, we haven’t been provided with any notices yet.”

Following the money

A CoinDesk review of public ethereum data found that the trail from the two wallets that sent ETH to Binance ultimately leads back to an address that was controlled by BTC-e.

Further, the analysis shows that the BTC-e-tied address is linked, by way of a divergent path of transactions, to the one wallet clearly belonging to WEX.

The BTC-e address is identified as such on Etherscan, a popular ethereum block explorer. Often, exchanges ask Etherscan to attach their brand name to their wallets, and if they can prove they are the real owners, the name gets assigned. Binance’s address is similarly labeled, but none of the more than 10 others are in the web of transactions between it and BTC-e.

The series of transactions began on July 29, 2017, when 485,705 ETH was transferred from the BTC-e address in one batch to another address that users believe to be WEX’s first wallet. 

Subsequently, that address sent 480,000 ETH in 32 large, round-number transactions from September 2017 through January 2018 to a single address. 

CoinDesk has confirmed that this wallet, pictured in the image below, belonged to WEX, since six users provided screenshots of their WEX withdrawal transactions – all of which involved the address, 0xb3AAAae47070264f3595c5032eE94b620A583a39.

But this WEX wallet was not the only recipient of ether from BTC-e. Another 184,772 ETH was transferred to the address 0x95cDdecd01856aA896426bd1ee021D87F3A5c199, and from there, smaller portions later traveled through several different addresses.

Eventually, two addresses – each connected to the BTC-e wallet through a different chain of six addresses – sent significant amounts of ETH to the address identified on Etherscan as belonging to Binance.

The first of these wallets sent 78,581 ETH to Binance in about two dozen transactions between August and October. The other wallet sent 14,794 ETH to the exchange in three transactions on October 15, October 18 and October 22.

Pleas for help

Maxim, the trader, said Binance’s initial response to his alert was discouraging.

“They responded that they can’t do anything so far but would watch those wallets carefully,” he said.

The text of Binance’s response, which Maxim sent to CoinDesk, reads: “Really thanks for your information, we are willing to cooperate with you. But at present it is hard for us to check all the account from WEX and take action. Anyway, we will keep an eye on this issue, if any update please feel free to contact us.”

While Binance spokesperson Li said the accounts were frozen on the 25th, this information was apparently not shared with frustrated WEX users until after CEO Zhao Changpeng (CZ) was asked about the issue on Twitter.

On Monday night, a Twitter user going by the name John James tweeted: “WEX cold wallets are moving funds through @binance. Meaning Binance is potentially help launder millions of dollars worth of stolens funds from Wex users. We have proof too. @cz_binance.”

CZ responded quickly: “The identified accounts are frozen, please report to law enforcement and have a case number. We will work with LE. This is part of centralization we hate too, dealing with other exchange’s mess (we don’t even know the details). But we will do what we can.”

Drain image via Shutterstock; Address graphs created by Anna Baydakova for CoinDesk

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Belgium Issues Warning To Citizens About 99 Crypto Scam Sites


Belgium Issues Warning To Citizens About 99 Crypto Scam Sites


The government of Belgium recently warned its citizens about 99 different cryptocurrency scam sites that have been stealing money from unsuspecting investors. Many of the sites run the same simple scam where they pretend to sell cryptocurrency, when in reality they just take payments and give nothing back in return.

The Belgian Financial Services and Markets Authority (FSMA) has issued numerous warnings this year and is continually adding scam sites and suspect brokers to various public watch lists.

Regulatory Environment

While these lists are extremely helpful for potential investors, it is important to note that Belgian regulators have been extremely adversarial toward cryptocurrency over the years. As with many jurisdictions around the globe, the regulatory framework that crypto will take in Belgium is still very unclear, but the country’s government has taken steps to indicate that they will do what they can to discourage the use of crypto within their borders.

Last year, Koen Geens, the Minister of Justice of Belgium formally proposed that the government restrict the use of cryptocurrency, even to the point of confiscating crypto holdings.

Despite the uncertain regulatory climate, cryptocurrency adoption is still growing in the region. Earlier this year, Data released by Statista showed that Antwerp, the second largest city in Belgium, now has three crypto ATMs.

Crypto scams and security remain a serious concern for the industry. Earlier this month, CryptoGlobe reported that popular YouTube stars, the Hodgetwins, who have a following of over 4 million subscribers, recently revealed that they had thousands of dollars worth of EOS stolen from them through a malicious wallet that they downloaded from the App Store.Save










Clovr联合创始人迈克•克里巴里(Mike Cribari)评论道:“整体的研究结果矛盾但直观:加密货币作为一种货币和技术,绝大多数人都是支持的,但同时也一致不相信那些,尤其是政界人士会用加密货币做什么。”




欢迎使用 Bitcoin.com的比特币现金浏览器查询交易、区块和其他重要的区块链数据,这是全球最好的BCH浏览器。另外,还可以使用Bitcoin.com的免费应用Satoshi Pulse查看走势图,追踪你持有的数字资产、BCH和其他币。

作者:Avi Mizrahi

Crypto Wallet Maker Ledger to Expand Support for Stablecoins, Including Tether

Ledger, the hardware cryptocurrency wallet maker, plans to add support soon for more stablecoins, including expanding tether (USDT)’s usability across all its products and services, executives said.

Currently, the company supports tether for its two handheld storage products, the Ledger Nano and Ledger Blue, but it intends to add the U.S. dollar-linked cryptocurrency to its institutional vault service.

Despite USDT’s recent loss of parity with the dollar amid renewed questions about its issuer’s reserves, Benjamin Soong, Ledger’s new head of operations for the Asia-Pacific region, said the token remains popular there.

“One thing that is slightly unique in China and South Korea is the demand for USDT,” said Soong, an alumnus of S&P Global Market Intelligence and Deloitte, whose hiring Ledger announced Wednesday. “Since both of those countries have capital controls, in terms of your ability to move currency out of the country.”

According to Soong – who is opening the Paris-based Ledger’s first Asia office in Hong Kong – Chinese and South Korean investors are often more comfortable with fiat-pegged currencies or assets that reflect traditional capital markets.

Even after it broke the buck two weeks ago, demand for USDT continues to dominate trading pairs on Asian exchanges like Huobi, where CoinMarketCap shows the volume is up nearly 26 percent in a single 24-hour-period last week.

USDT “is a vehicle that is kind of unique in the market out here, that I’ve seen so far,” Soong said.

Even beyond USDT, Ledger (which also supports MakerDAO’s dollar-linked dai token) will also add other stablecoins as it pursues a major expansion of its custody business, with the goal of supporting more than 100 different tokens by the end of next year. Ledger President Pascal Gauthier told CoinDesk:

“We have a big road of integrating many things right now, including stablecoins.”

New hire

As a capital markets veteran who speaks Mandarin, Cantonese, and Japanese, Soong was the ideal candidate to build out a 12-person team in Hong Kong and evaluate the potential of satellite offices in places like Japan and Singapore, Gauthier said.

“You need to hire local talent, people who understand the local culture,” Gauthier told CoinDesk.

Roughly 30 percent of Ledger’s hardware sales already come from Asian markets, despite a previous lack of presence on the ground.

“This is an asset class where the retail has really led the way, following by the institutional players coming in,” Soong told CoinDesk. However, he added:

“We’re definitely seeing a lot of traditional asset managers and banks start to explore how they are going to enter and support this asset class moving forward.”

Yet when it comes to bitcoin, Soong said traditional asset managers across APAC still prefer to move their funds into crypto when custody solutions can offer the same security and trust level as banks. Hence, Ledger has an institutional custody partnership brewing with the Japanese bank Nomura.

“They [wealth managers] would ultimately prefer to work with traditional financial institutions, which is why partnering with Nomura makes a lot of sense,” Soong said.

Corporations, currency exchanges, and banks in Hong Kong have already started reaching out to inquire about crypto custody solutions, Soong said. “Hedge fund managers, people who were in investment banking, are all moving into this space to help build up the infrastructure for this new asset class,” he said.

Meanwhile, Ledger is also forging closer ties with the Hong Kong-based software startup Internet Online Hong Kong (IOHK), led by ethereum cofounder Charles Hoskinson. Next week, during Hong Kong Fintech Week, Ledger and IOHK will host a joint party for the local crypto community.

Ledger image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.


交易所相关资讯:Ironx私募融资2230万美元;国际数字货币市场(International Digital Currency Market)计划发行证券型通证;还有一些新的交易所在爱沙尼亚成立。



斯蒂芬·哈蒙德(Stephen Hammond),英国保守党(Conservative Party)前副主席、现任英国财政委员会(Treasury Committee)委员,在Ironx工作了四天后从该交易所辞职。根据计划中的交易所私募的价格,哈蒙德收到5万枚IRX代币作为酬金,价值约为16500美元。



shutterstock_785036422-300x200国际数字货币市场(International Digital Currency Markets)执行合伙人Andrew Wong最近接受《南华早报》采访时,谈到了该公司的长期计划,其中一项是成为一家成熟的加密货币投资银行。

他说: “这包括提供一个发行证券型通证的解决方案,这种形式投资者都是经过筛选并获准投资的。”


shutterstock_1033377244-300x150爱沙尼亚的外汇和钱包服务提供商许可证不断吸引着虚拟货币公司到爱沙尼亚发展,加密货币交易所XRP United上周在爱沙尼亚开展业务。该交易所使用XRP作为其基础货币,目前支持BCH/XRP、ETH/XRP和BTC/XRP。一旦平台整合门罗币钱包,还打算支持XMR/XRP


发文时比特币现金(BCH)的价格是:¥ 2940.20




作者:Samuel Haig

Ron Paul Admonishes Fed, Comes out Against Crypto Taxes in New Blog Post

Ron Paul News

Ron Paul Admonishes Fed, Comes out Against Crypto Taxes in New Blog Post

Former US Congressman Ron Paul believes that tax-free cryptocurrencies may help navigate the economy past recession. Paul, the consummate libertarian and eternal critic of the Federal Reserve, believes that the abolition of crypto taxes may help avoid a crisis similar to 2008’s recession.

On Monday, Ron Paul released a blog post via the Ron Paul Institute for Peace and Prosperity entitled, “Trump Is Right, the Fed is Crazy.” Paul, echoing Donald Trump, lambasted the Fed’s increased interest rates as “crazy.” In fact, Paul even harkened to the definition of insanity as doing the same thing over and over while expecting something new to happen:

Trusting the Federal Reserve to produce permanent prosperity instead of a boom-and-bust cycle is a textbook example of a popular definition of insanity being repeating the same action in hope of getting different results.

St. Louis Federal Reserve Bank: 3 Qualities Bitcoin and Cash Share

Paul’s solution is a bill called —rather unsurprisingly — “Audit the Fed.” For years, Paul’s call to audit the Federal Reserve has constituted an integral part of his libertarian platform. In the blog post, Paul notes that “It is likely that the next Fed-created recession will come sooner rather than later. This could be the major catastrophe that leads to the end of fiat currency.”

Paul’s solution is to coerce Congress into end the unreasonable craziness that he finds so evident. He says the bill is vital to this action and calls for precious metals and crypto to be exempt from taxes:

 The only way to avoid crisis is to force Congress to end our monetary madness. The first steps are passing the Audit the Fed bill, allowing people to use alternative currencies, and exempting all transactions in precious metals and cryptocurrencies from capital gains taxes and other taxes.

Paul was seemingly born critiquing the Fed’s policies. He incorporated the stance into his run for presidential office in 2012 on the Libertarian Ticket. Just today, he fired another shot at the Fed via his Twitter account, highlighting the Fed’s role in power, war, and dependency:

Paul’s libertarianism resonates with many in crypto community, championing both the decentralization of economic power, and a strong skepticism towards the fiat economy. His call for tax exemption of precious metals, gold, and crypto is also bolstered by his belief that, when fiat currency is unavailable or unwanted, these stores of value reign supreme: “A stable currency ensures that prices accurately convey the true value of goods and services.”

Would you support Ron Paul’s “Audit the Fed” bill? Do you believe abolishing crypto taxes may prevent another recession? Let us know your thoughts in the comments below!

Images courtesy of Bitcoinist archives, Shutterstock, Twitter (@RonPaul)