Bitcoin is down about 31% this month, trading at $9,817 as of 10:20 am in Hong Kong, according to composite pricing compiled by Bloomberg. Rival coins ripple, ethereum and litecoin are also down at least 2%, the data show.
“The regulatory oversight and the clampdown is really coming to the fore right now,” Stephen Innes, head of trading for Asia Pacific at Oanda, said by phone from Singapore. “I don’t think we’ve seen the last of it.”
The US Commodity Futures Trading Commission sent subpoenas on 6 December to cryptocurrency trading venue Bitfinex and Tether, a company that issues a widely traded coin it claims to be pegged to the dollar, according to a person familiar with the matter who asked not to be identified discussing private information. The firms share the same chief executive officer.
Facebook, meanwhile, will ban ads on its social network promoting digital currencies, initial coin offerings and binary options, warning they’re “frequently associated with misleading or deceptive promotional practices.”
Source : http://www.livemint.com/Money/x8Q9wSCiArF9IPdoQSk9qN/Bitcoin-extends-cryptocurrency-slide-amid-Facebook-Tether-f.html?
We have to wait untill its grow...
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Inforamtive post good job...
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Nice info, useful to me, thanks a lot buddy
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we just have to wait for the FUD to pass, everything will recover. We'll have great summers on moon again :D
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Can we just print like $500M Tether and move on 😅
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It's all negative news lately. I don't know when there's good news.
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The prices fell for a bit as a result,but i'm sure bitcoin will rise again,,just keep praying
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#Bitcoin won't hit $100k until @Bitfinex and @Tether_to are gone. This is just the 'weeding out' of all the scamtards and fraudulent actors in the system ...
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Bitfinex and Tether have the same CEO from what I understand and by saying it was effectively tethered to the USD that would mean they would need to be holding nearly $2.4 billion in reserves. The CFTC called bs on it and wants to verify.
I do agree that we are entering the age of regulation, or at least, trying to regulate the crypto world. It will be interesting to see if something which was never meant to be regulated can be regulated.
Regarding Facebook, they are facing their own problems including losing up to 1 million daily users in US. They are desperately trying to regain user interaction and have even rolled out "Facebook Zero" which basically kills organic growth for business pages. Thus more ads.
There are more links to the Facebook problems in this post: https://steemit.com/steemit/@opietaylor/the-steem-report-3160-accounts-steem-down-on-heavy-volume-facebook-loses-1-million-daily-users
Thanks for the analysis!
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This post has received gratitude of 3.56 % from @appreciator thanks to: @amitraj.
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