University of Texas employees made conclusion that a major Bitfinex exchange player provoked a rise in bitcoin prices from $ 900 to $ 20,000 in 2017; SDF burned 55 billion XLM; Trace Mayer, podcast author and organizer of the Proof of Keys initiative,again called for checking exchanges on solvency.

University of Texas employees made conclusion that a major Bitfinex exchange player provoked a rise in bitcoin prices from $ 900 to $ 20,000 in 2017; SDF burned 55 billion XLM; Trace Mayer, podcast author and organizer of the Proof of Keys initiative,again called for checking exchanges on solvency.

1. Employees of the University of Texas made conclusion that the rise in the price of bitcoin from $ 900 to $ 20,000 in 2017 was provoked by one major player, who acted on the Bitfinex exchange.

In 2018, they already published a work in which they said that such rapid growth was due to the manipulation of Tether with the help of USDT. Now they have updated their work, in which they say that not thousands of players moved the price, but one «whale». They made this conclusion by analyzing transactions in the Bitcoin blockchain.

Stuart Hegner, Bitfinex Chief Lawyer, denied this information, saying the study was «fundamentally distorted».

Mati Greenspan, EToro Senior Analyst, also commented on this:

«I was there and saw millions of retail accounts open during the rally».

Jeremy Aller, CEO of a cryptocurrency- payment company «Circle», noted that researchers are missing the very essence of the issue.

«The stablecoin Tether was used to acquire bitcoin through the infrastructure of the Bitfinex exchange at a time when its price was falling» the researchers wrote. They suggest that this Tether guide printed unsecured stablecoins for which Bitcoin was pampered. However, Aller suggests that the company simply distributed USDT among buyers.

«This analysis is useless if you don`t have access to the bank transactions of the company. The data from the blockchain only shows how the new fiat tokens got into circulation» he noted.

 

2. The Stellar Development Foundation (SDF) has destroyed 55 billion XLM. This decision was made in connection with the desire to maintain efficiency.

«SDF can do the job more efficiently with less XLM. After analyzing the effects of airdrops, we came to the conclusion that they have a negative impact» is is said in the organization’s blog.

At the moment, the issue of XLM is 50 billion, previously it was 105 billion. Of this amount, 20 billion are in circulation.

Against the background of this event, the price of XLM increased by 20%.

 

3. Trace Mayer, the author of the podcasts and the organizer of «Proof of Keys» initiative, again suggests checking the cryptocurrency exchanges for solvency. It should be reminded, that there was already a similar campaign in the course of which it was proposed to withdraw all of its cryptocurrency assets from exchanges to cold wallets. Many members of the crypto community supported the initiative. Now a similar event is planned, which is scheduled for January 3.

«Less than 60 days left. Who will support the idea in 2020?» Mayer wrote.

Mayer adheres to the rather popular theory of «not your keys – not your bitcoins». Therefore, he suggests withdrawing all his assets to wallets that users control personally.

 

4. Omkar Godbole, CoinDesk analyst, points out that the list of addresses that hold 1,000 BTC or more has grown by 30% over the past year. At the moment, there are 2,148 such wallets.


As it shows on the graph above, the indicator has begun to grow rapidly over the past 12 months. According to analyst Willy Wu, this is due to the increased participation of investors in the activity of the cryptocurrency market.

Other observers are not inclined to believe in this version.

«These are mainly exchanges. The number of BTCs at their disposal is growing, and accordingly they are distributing them» analyst Alex Krueger said.

 

5. In the near future, Binance plans to add support for the Ukrainian hryvnia and the Kazakhstan tenge for direct crypto-fiat exchange. These currencies have recently been added to the Binance API.

 

6. OKEx has announced a new IEO on the OKEx Jumpstart platform.

The project «ROAD» will run it on November 14th. The campaign will be held in two sessions. First, 84 million tokens will be distributed, and then another 56 million. To participate, you need to keep at least 100 OKB in your wallet for 30 days. There must be 2,500 OKB to get the maximum ratio:


In total, the startup wants to attract up to $ 2 million.

 

7. According to Joseph Lubin, Ethereum co-founder, Facebook shouldn`t lead a project like Libra.

«I like these initiatives, but Facebook shouldn`t lead them. There are a number of questions to this company about trust and personal data» he said.

According to him, Libra suffers just because of «its main resource» – a social network with headquarters in California Menlo Park.

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1. Employees of the University of Texas made conclusion that the rise in the price of bitcoin from $ 900 to $ 20,000 in 2017 was provoked by one major player, who acted on the Bitfinex exchange.

In 2018, they already published a work in which they said that such rapid growth was due to the manipulation of Tether with the help of USDT. Now they have updated their work, in which they say that not thousands of players moved the price, but one «whale». They made this conclusion by analyzing transactions in the Bitcoin blockchain.

Stuart Hegner, Bitfinex Chief Lawyer, denied this information, saying the study was «fundamentally distorted».

Mati Greenspan, EToro Senior Analyst, also commented on this:

«I was there and saw millions of retail accounts open during the rally».

Jeremy Aller, CEO of a cryptocurrency- payment company «Circle», noted that researchers are missing the very essence of the issue.

«The stablecoin Tether was used to acquire bitcoin through the infrastructure of the Bitfinex exchange at a time when its price was falling» the researchers wrote. They suggest that this Tether guide printed unsecured stablecoins for which Bitcoin was pampered. However, Aller suggests that the company simply distributed USDT among buyers.

«This analysis is useless if you don`t have access to the bank transactions of the company. The data from the blockchain only shows how the new fiat tokens got into circulation» he noted.

 

2. The Stellar Development Foundation (SDF) has destroyed 55 billion XLM. This decision was made in connection with the desire to maintain efficiency.

«SDF can do the job more efficiently with less XLM. After analyzing the effects of airdrops, we came to the conclusion that they have a negative impact» is is said in the organization’s blog.

At the moment, the issue of XLM is 50 billion, previously it was 105 billion. Of this amount, 20 billion are in circulation.

Against the background of this event, the price of XLM increased by 20%.

 

3. Trace Mayer, the author of the podcasts and the organizer of «Proof of Keys» initiative, again suggests checking the cryptocurrency exchanges for solvency. It should be reminded, that there was already a similar campaign in the course of which it was proposed to withdraw all of its cryptocurrency assets from exchanges to cold wallets. Many members of the crypto community supported the initiative. Now a similar event is planned, which is scheduled for January 3.

«Less than 60 days left. Who will support the idea in 2020?» Mayer wrote.

Mayer adheres to the rather popular theory of «not your keys – not your bitcoins». Therefore, he suggests withdrawing all his assets to wallets that users control personally.

 

4. Omkar Godbole, CoinDesk analyst, points out that the list of addresses that hold 1,000 BTC or more has grown by 30% over the past year. At the moment, there are 2,148 such wallets.


As it shows on the graph above, the indicator has begun to grow rapidly over the past 12 months. According to analyst Willy Wu, this is due to the increased participation of investors in the activity of the cryptocurrency market.

Other observers are not inclined to believe in this version.

«These are mainly exchanges. The number of BTCs at their disposal is growing, and accordingly they are distributing them» analyst Alex Krueger said.

 

5. In the near future, Binance plans to add support for the Ukrainian hryvnia and the Kazakhstan tenge for direct crypto-fiat exchange. These currencies have recently been added to the Binance API.

 

6. OKEx has announced a new IEO on the OKEx Jumpstart platform.

The project «ROAD» will run it on November 14th. The campaign will be held in two sessions. First, 84 million tokens will be distributed, and then another 56 million. To participate, you need to keep at least 100 OKB in your wallet for 30 days. There must be 2,500 OKB to get the maximum ratio:


In total, the startup wants to attract up to $ 2 million.

 

7. According to Joseph Lubin, Ethereum co-founder, Facebook shouldn`t lead a project like Libra.

«I like these initiatives, but Facebook shouldn`t lead them. There are a number of questions to this company about trust and personal data» he said.

According to him, Libra suffers just because of «its main resource» – a social network with headquarters in California Menlo Park.

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