December 1, 2020

Cryptheory

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Shortly from the Cryptoworld

3 min read
Shortly from the Cryptoworld

 

Fake news: Bitcoin have fallen by 56 percent in one day

 

Two respected portals Yahoo! Finance and Investing.com shared articles over the week that falsely claimed that the Bitcoin price dropped 56 percent in one day. The articles were probably written by a computer program (bot) that tried to increase advertising revenue through a clickbait headline. Although the articles were deleted relatively quickly, the reputation of the investment portals has been greatly challenged. Former eToro analyst Mati Greenspan, currently working for Quantum Ecomomics, criticized the way both sites publish articles. According to him, it seems that anyone / anything can publish on the page. Many trading bots follow the information they receive from the media when opening and closing trades. Fake articles on Yahoo! Finance and Investing.com could theoretically affect hundreds of deals. To date, however, there is no evidence that this has really happened.

 

Binance caught a boost in their team – It’s former TradingView president

 

Binance, one of the world’s largest cryptocurrency exchanges, further strengthens its ranks by hiring former TradingView president into its services. Iskander Malikov, a former chief operating officer of TradingView’s main business graph analysis service, joined Binance as new director of Fiat. The former Executive Director of TradingView will work primarily to set up new projects and to expand existing ones. All this within the core markets of Binance in various regions. In addition, Malikov will explore new methods to simplify fiat-to-crypto and crypto-to-fiat conversions.

 

Switzerland will require user identification for crypto transactions above $ 1,000

 

The Swiss Financial Market Supervisory Authority has passed a new anti-money laundering law. In view of the additional risk, the limit for unidentified cryptocurrency transactions is reduced from CHF 5,000 to CHF 1,000, which is approximately USD 1,020. This provision comes after the adoption of the new Financial Services and Financial Institutions Act, which entered into force on 1 January 2020. One of the key changes from the original provision is the standardization of Swiss national regulations with the guidelines of the Financial Action Task Force. All cryptocurrency finance providers will need to collect data for anyone who carries out transactions worth more than $ 1,000. This information must be regularly submitted to the authorities for review.

 

Co-founder Ripple sold more than a billion XRPs and is likely to continue

 

Whale Alert Twitter analysis, which highlights large transactions in the cryptocurrency world, suggests that Ripple co-founder Jed McCaleb’s sold up to one billion XRP tokens between 2014 and 2019 and may continue at this pace. McCaleb sold his XRP last month. There were 19 million tokens worth $ 5.4 million. Whale Alert believes that this trend may continue and even increase after XRP’s limited sale agreements expire, which is likely to expire sometime in 2020. In 2014, it directly affected the XRP price by announcing that it was planning to sell all its shares. The XRP price fell by as much as 40% in 24 hours. Subsequently, he concluded a seven-year deal with Ripple, which limited his monthly and yearly XRP tokens. This agreement allows McCaleb to sell one billion XRPs in the sixth and two billion XRPs in the seventh year. According to Whale Alert, we are currently in the seventh.

 

Justin Sun gives Buffet a smartphone with a wallet containing BTC and TRX

 

The famous dinner between the founder of Tron and billionaire Warren Buffett took place on January 23 and circled the world. On Twitter, however, the founder of Tron publicized only yesterday. According to him, during the dinner they discussed a number of topics and everything was reflected in the price of TRX, when the price rose within a few hours by 12%. Justin Sun gave billionaire Buffet a new smartphone Samsung Galaxy Fold, which has a built-in cryptocurrency wallet.

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