Daily Crypto NewsEDITION #49, 12 October 2020

UK vs Crypto Derivatives

Hey #Moni Maker 🙃

This week’s been rough! They call it the Wild West for a reason. Stick an "ordinary" trader in here, and he'll run off like a headless chicken (ask Dave Portnoy). Let's dive right into the weekly digest - you'll see all of it for yourself 😉

The SEC and the U.S. Department of Justice filed a case against John MacAfee for shilling ICOs between 2017 and 2018/ John just forgot to tell you guys that he was profiting from this activity. And taxes, of course, he forgot to pay taxes.

McAfee received about $11.6 million in BTC and ETH and another $11.5 million in projects' tokens. In total, he received $23 million for shilling projects that collected $41 million.

On Monday, SEC and DOJ raised questions, and on Tuesday night, McAfee and his guard were already arrested in Spain. John will be extradited to the USA and serve up to 5 years if his guilt is proved.

So what?

Is there a competition between the regulators to take down the biggest crypto-enthusiast in the USA?!

MacAfee is an interesting character, and he really deserves attention.

Of course, the attention of the public, not police... although we will find out soon. Anyway, why did someone decide to give a f@ck about crypto? Maybe they should clean up the banking sector first?!

You should wipe the dust in the room only when there is no garbage in the hallway. Get This Metaphor!

BitMEX announced changes in the management structure of 100x Group, the operator of the trading platform.

According to the statement, Arthur Hayes (CEO), Samuel Reed (CTO), and cofounder Ben Delo will step down from their executive positions in the company. In addition, Greg Dwyer, head of business development, will take a vacation.

Last week BitMEX, Hayes, and other company executives were indicted by the Commodity Futures Trading Commission (CFTC) and the U.S. Department of Justice. The owners of the platform are charged with servicing an unregistered trading platform and violating CFTC rules regarding AML and KYC requirements.

So what?

We will miss your tweets, Arthur :( No Macafee, no CryptoHayes...Twitter will feel empty! At least bring Dave Portnoy back...

Seriously, it smells like outplaying. They want to save BitMEX by making the former management team scapegoats? Looks like it.

P.S. Following Arthur, other members of the BitMEX executive team also left.

Jay Clayton, chairman of the U.S. Securities and Exchange Commission (SEC), seems to believe in the power of blockchain and that all stocks can become tokenized soon.

Clayton said all stock trading today is in electronic form. In the past, there were stocks' certificates, but today there are digital records representing them. "It's possible that all of the stocks will become tokenized," Clayton said.

He also said the SEC's doors are "wide open" for new offers. Such as "tokenize the ETF product in a way that adds efficiency," Clayton said.

So what?

Good, Clayton, well done, brooo!

SEC, no matter how scary and dangerous it may seem, it can't ignore the progress :) And it's great - every such step brings the mass adoption closer.

$50M is about 1% of Square's total assets as of this year's Q2.

Jack Dorsey, Twitter CEO and Bitcoin enthusiast, previously stated that Bitcoin and Blockchain are the future of Twitter and the Internet.

So what?

Keep the change! 😂

Well, who will be NEXT in such crazy investments in BTC? CZ bets on Tesla. But what do you think?