For the first time in ages, this week was strangely subdued in Bitcoin. No major price movements, no official raids, and no tether collapse. Iota got caught in some kind of pickle and then blamed everyone else like Iota likes to do, but that’s all. Until Friday, when a record breaking hack from the land of the rising sun became known, everything passed uneventfully – yes, exactly from the country from which the biggest hack in the world so far came. It turned out that this week wasn’t all that memorable after all.
Also read: The Bitcoin Futures report shows that bullish sentiment is in the air
Tangle Loving Blues
Iota got into a mess earlier in the week, but luckily they had the good grace to apologize and vow to learn from their mistakes. Ah who are we kidding? Your overgrown kid of a CEO attacked anyone and everyone for reporting the news, because it’s always easier to shoot Messenger than clean up your own mess. First there was the story of the iota users Lose $ 4 million of wallet hacks followed by an analyst report that the altcoin was greatly overrated.
Meanwhile, South Korea tacitly got its crypto affairs in order with a touch more dignity than Team Iota. We reported on how a new system will allow the country’s stock exchanges to share the date with the banks as officials published guidelines about how the bank-exchange rate relationship should work to move forward.
The SEC had a lot to say about ICOs this week. What this had to do with Dogecoin, however, was a mystery.
Weiss ratings are great baits
The entertainment during the week was in the form of cryptocurrencies Weiss Ratings which, all agreed, were ridiculously bad. It’s always fun to see how supposed experts from the financial world get crypto so wrong. You’ll get more accurate reviews from the average Twitter retailer with a five-digit follower count. Other stories that warmed this week’s comments section included Crypto celebritiesRumors about Bitfinex and Tether’s bank accounts Billions includedGeorge Soros Babble nonsenseand another ongoing fraud – Onecoin – be closed in Bulgaria.
This week, 800,000 people signed up to buy crypto through the Robinhood app.
However, this week’s most popular story was about credit card issuer Discover Block access Cryptocurrency for its 44 million customers. This is becoming a recurring theme with credit card issuers. It seems that the crypto revolution has to take place without their help, but we have always assumed that, anyway.
Coincheck receives REKT
And to the last essential story of the week that Coincheck gets in $ 400 million to NEM removed from vaults after not even implementing most of them basic op-sec. In contrast to the Mt Gox affair, this story is a happy ending as all customers of the exchange who have lost their NEM will be reimbursed in Japanese yen. It says volumes about the kind of profits crypto exchanges make when they can get their hands on nearly half a billion dollars in fiat in 48 hours. Still props to Coincheck for reparation and to NEM for refusing to give away the stolen coins.
With the renewed rise in the crypto markets, the prerequisites for an edifying and profitable period of seven days have been created. All we need is Bitfinex and Tether to hold on, crypto exchanges to sign their assets multiple times, and everything should be fine.
What was your favorite bitcoin story from that week? Let us know in the comments below.
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BitFinex, Coincheck, Discover, George Soros, Hack, IOTA, Japan, Mt. Gox, N-Featured, Podcast, Tangle, Tether, Week in Bitcoin, White Reviews
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