Welcome to my Cryptocurrencies Market Overview for Wednesday, December 20, 2017.
Today in the news:
- CoinBase under fire after adding Bitcoin Cash (BCH). Accusations of insider trading and price manipulation.
- Bitcoin Cash sets a new record high above $3900.
- Litecoin founder Charlie Lee has sold all of his LTC.
- And more crypto news below...
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Latest Crypto News - December 20, 2017
False Start: Coinbase’s GDAX Halts BCH Trading Hours After Starting
Coinbase’s exchange GDAX has stopped trading the virtual currency Bitcoin Cash (BCH) just hours after opening order books for its newest asset. Coinbase added BCH to its platform but is currently only letting customers send and receive the cryptocurrency. The platform plans to enable buy/sell soon, depending BCH’s performance on GDAX.
Read more: cointelegraph.com
Other sources:
- Coinbase to Probe for Breach in Bitcoin Cash Listing (Coindesk)
- Bitcoin Cash deals frozen as insider trading is probed (BBC)
- Coinbase Investigates Suspicions of Insider Trading for Bitcoin Cash (Cryptovest)
- Coinbase CEO Promises Investigation Into Insider Trading Allegations (Bitsonline)
Bitcoin Cash Price Easily Surpasses $3,300 as Bitcoin Continues to Struggle
It is safe to say Bitcoin Cash is one of the hottest cryptocurrencies in the world right now. Especially now that Bitcoin is showing plenty of chinks in the armor, investors and speculators are moving to new cryptocurrencies. As a result, we have seen the Bitcoin Cash price appreciate in value these past few days. Right now, the Bitcoin Cash price sits at $3,368, although it’s not unlikely we will see even more gains.
Read more: themerkle.com
Morgan Stanley: Hedge Funds Poured $2 Billion into Cryptos in 2017
Banking giant Morgan Stanley has estimated that hedge funds invested a massive $2 billion in cryptocurrencies this year.
Read more: coindesk.com
Litecoin founder Charlie Lee has sold all of his LTC
Charlie Lee, the former director of engineering at Coinbase, is selling almost all of his holdings in Litecoin (LTC), the cryptocurrency that he founded in 2011. Lee explained in a post on Reddit that he is selling all of his LTC coins — bar a number of physical coins he keeps as collectibles — to avoid the conflict of interest that comes with his influence and position as LTC founder.
Read more: techcrunch.com
Other sources:
Bitcoin No Threat to Financial Stability, Say European Economists
A group of European economists believe bitcoin is no threat to the financial stability, although regulatory oversight needs to be increased, new research shows.
Read more: coindesk.com
Estonia Progressing Toward Launching National Crypto Token ‘Estcoin’
In a bid to become a global hub for initial coin offerings (ICOs), the Baltic nation of Estonia is moving ahead with plans to launch its own crypto token, the Estcoin.
Read more: cryptovest.com
Major Korean Crypto Exchange Upbit at Center of Regulatory Controversy
The South Korean cryptocurrency exchange affiliated with Kakao Talk has recently become the center of regulatory controversy. Upbit is the only major exchange in Korea that has not joined the other exchanges in support of self-regulation. Their agreement with Bittrex raises the question of how the regulation applies to them. Meanwhile, the exchange is having its own internal problems as customer complaints mount.
Read more: bitcoin.com
Bitcoin is biggest bubble of them all, and it’s the Fed’s fault, says Ron Paul
He's taken on President Donald Trump and the Federal Reserve. Now, libertarian former congressman Ron Paul is taking on bitcoin. According to Paul, cryptocurrencies have become an asset that rivals the bubble he sees in stocks.
Read more: cnbc.com
The late-stage equity bull market could explain a mania like bitcoin
Bitcoin's meteoric surge this year comes as stocks rally and art is sold at a record high.
Read more: cnbc.com
More Tethers Coming In, Slow Due to BTC Network Congestion
Tethers usually get printed when the Bitcoin market price drops precipitously. Indeed, Bitcoin has slid toward $16,000, after an unsuccessful and short-lived peak around $20,000. With the Bitfinex price sliding even lower, a new injection of Tethers, or USDT, is being prepared. Confirmations are slow, as USDT relies on the Bitcoin network, and it is overloaded right now.
Read more: cryptovest.com
I've posted a tutorial earlier today on how to make a Lightning transaction on the Bitcoin testnet.
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