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Tether Slashes 30% Off TRON-USDT, Moves Coins to Ethereum Network

A series of large-scale transactions confused the markets today, after a unusual movement of 300M USDT tokens took place.  Tether and Binance Cooperated on the Whale Transaction and Token Burn The Tether minting wallet that generated a transaction of 300 million USDT was immediately caught by whale watchers today. The transaction arrived at a time when Bitcoin (BTC) was once again sliding below $9,600, and the initial minting was viewed as a possible attempt to rescue the markets. 300,000,000 #USDT (300,321,318 USD) minted at Tether Treasury Tx: https://t.co/0pAllfCsO2 — Whale…

1.17M Bitcoin Addresses Will Be in the Red if BTC Breaks This Level

Recent data by IntoTheBlock shows a crash to $9,000 could potentially send 1.17 million Bitcoin (BTC) addresses below the profit line.   Still A Lot of Bitcoin Traders Trapped Above $10K Based on data collected by blockchain analysts, the latest bitcoin flash crash toward $9,600 support levels has meant that even more wallet addresses containing BTC are now ‘out of the money’. So far, over 71% of all BTC addresses are still in the money, and many could sell at a great profit. However, a breakdown closer to $9,000 would send…

Craig Wright To Face Hot-Shot New York Lawyer In Kleiman Case

Ira Kleiman’s legal representation filed a new document today, calling for a New York lawyer to be allowed to act as co-counsel for Kleiman in the ongoing case against Craig Wright. As the trial is being heard in Florida, special dispensation is needed for a representative who is not admitted to practice within the jurisdiction. Bringing Out The Big Guns for Craig Wright? So who is this new, hot-shot lawyer from The Big Apple? Um… well it’s just some guy from the New York office of Roche Cyrulnik Freedman LLP.…

3 Top Cryptocurrencies Hit Hardest by the Latest Flash Crash

When Bitcoin (BTC) drops, other cryptocurrencies drop even more. But some assets erased more value, showing their relatively fragile market gains. BTC Crash Triggered Downward Spiral for Altcoins On Thursday, BTC prices flash-crashed by about 7%. BTC dipped as low as $9,400, before recovering to a new stabilized price range. But the market panic also affected the still-fragile rallies of altcoins. Some cryptocurrencies managed to keep their gains, while others saw a much deeper correction. Among the worst-hit assets was EOS (EOS). This coin has shown some curious price moves,…

Netherlands Shares Bitcoin Mixer Probe Report With J5 Nations

The Dutch Government is sharing intelligence data, including that gathered during last year’s takedown of a Bitcoin mixing service, with four other countries. The Netherlands, US, UK, Canada and Australia formed the Joint Chiefs of Global Tax Enforcement, or J5 group, in 2018. The five countries also take part in events known as ‘the challenge’, to coordinate their investigations of tax-related crime. Bitcoin Mixing Case Used In J5 ‘Challenge’ Bestmixer.io was a bitcoin mixing service based in The Netherlands, which offered to further anonymize bitcoin transfers by mixing tokens with those…

Bitcoin Sees Its Fifth Largest Hourly Price Crash Ever

Bitcoin’s fifth largest hourly price drop in history happened today, according to data from Coin Metrics. In a shock brutal crash, BTC shed around $1,000 in value in less than one hour. What does it mean? Bitcoin’s Fifth Largest Hourly Price Drop Crypto-asset analyst at ARKInvest, Yassine Elmandjra, highlighted the Coin Metrics data on Twitter. With a sudden drop of $1,000, the flash crash was like a scene from Gone in 60 Seconds (or minutes, to be more precise). Today marks Bitcoin’s fifth largest hourly price drop in price history.…

How Does Bitcoin Distribution Compare to Wealth Inequality?

When Bitcoin first came out more than a decade ago, it promoted a sense of equity and fairness that hasn’t been typical for the traditional financial system. However, the current distribution of coins shows that the gap between Bitcoin poor and rich is even more dramatic. Bitcoin Cannot Address Wealth Inequality Bitcoin has always seen a massive disparity when it comes to the distribution of coins. While the cryptocurrency came out as a reaction to the financial crisis caused by greedy, “too big to fail” banks, it eventually adopted the…

Mt. Gox Victims Could Soon See 88% of Losses Returned

Fortress Investment Group, a Mt. Gox creditor, has increased its offer to victims of the infamous Bitcoin exchange hack. In its newest offer to victims, Fortress offered $1300 per bitcoin or an estimated 88% of account value at the time of the hack. But will the offer be accepted this time?  Are Mt. Gox investors willing to accept the offer? Mt. Gox is perhaps the most infamous hack in crypto history, despite it not being the largest. What sets the hack of the Japan-based exchange apart, is that it was…

ACX Crypto Exchange Gets Penalized By Australian Blockchain Body

The self-governing body Blockchain Australia removed ACX.IO from its list of partners, following trader complaints that the market operator has gone unresponsive. Blockchain Australia Removed ACX.IO, Global Blockchain from List of Constituents Blockchain Australia finally removed the ACX.IO exchange from its site after reports of missing funds. The exchange, which announced an audit in January, raised doubts of its solvency after evidence of an empty hot wallet. The exchange’s Melbourne offices are also closed, reported local traders in a Reddit thread. User Jonte_Z reiterated the concerns of the disappearing office:…

Binance Undergoes ‘Maintenance’ – Will Crypto Prices Dump?

Binance just made an unexpected announcement. The most active cryptocurrency exchange is ‘undergoing temporary system maintenance,’ which normally doesn’t bode well for crypto prices.  Binance Maintenence Coincides with 60M Minted USDT Binance caught traders unaware once again today when all of a sudden it went down for “temporary system maintenance.” According to the Binance blog: Binance has suspended deposits, withdrawals, spot trading, margin trading, P2P trading, lending, redemption, as well as asset transfers from sub-accounts, margin accounts, futures accounts, and fiat wallets. Please note that trading on Binance Futures will continue…