The decision of the SEC on Bitcoin ETFs is getting closer, big losses for Pantera Capital and a company that could disrupt a banking model in this weekend news
- The SEC will review again 9 rejected ETFs by the end of October. It still has to overcome its fear that crypto market is manipulated to approve any of the reviewed applications.
- A crazy trading bot crashed and pumped BTC, ETH and LTC on Bitstamp. This bot crashed BTC to $5,760 and pumped it to $7,000, crashed ETH to $141 and pumped it to $300, and sold LTC all the way down to $1, but didn't try to pump it back.
- Bitfinex will be using HSBC banking services instead of Noble Bank. As revealed by Larry Cermak, a crypto analyst, Bitfinex has a private account via Global Trading Solutions, and plans to use it as its main account.
- Pantera Capital’s crypto fund lost 72.7% of its value in 2018. Its portfolio consists of altcoins, thus it underperforms Bitcoin, which lost only 50% of its value in this year. Since its launch, the fund lost 40.8% of its value.
- Venezuela government continues to promote its cryptocurrency. From now on, Venezuelans will have to pay in Petro to obtain or renew a passport. It will cost 2 petros for a new passport, equal to 4 monthly wages, and 1 petro for an extension.
- The investigation by the government of Lithuania showed that large European banks participated in crypto-related transactions. The total amount, transferred via these banks, including Danske Bank and Swedbank, exceeds €661 million.
- The US completely banned Petro a few days after its official launch. In a new bill it prohibits its citizens from dealing with Petro and any other cryptocurrency that could help any country to circumvent its sanctions.
- The World Trade Organization released the report where it called Ripple a company that could disrupt a banking model. Also it mentions IOTA as a alternative to blockchain technologies, BTC and ETH as the pioneers of the industry.
- Ethereum network currently runs at 50% capacity. Its fees dropped to the lowest yearly level of 1 cent. However, it maintains a decent activity, processing 600,000 transactions per day.