Claims against major bitcoin companies, takeover of CoinMarketCap and other events of the week

In the traditional Sunday digest, rememberBitcoin's futile attempts to gain a foothold above the $ 7000 level, a transaction of almost $ 700 million with a commission of 26 cents and advice from the author of “Rich Dad, Poor Dad” by Robert Kiyosaki.

Bitcoin Price: Striving to Overcome $ 7,000

A few days ago, the first cryptocurrency managed to briefly be above the level of $ 7000. However, the euphoria of investors did not last long - after a few hours, the price fell by more than $ 300.

TradingView Bitstamp BTC / USD hourly chart

The graph shows that against the background of a price breakthroughthere was a significant surge in trading volumes, but this impulse was short-term and did not lead to a continuation of the trend. Also, there was no cardinal change in market sentiment. After that, on April 3 and 4, the price twice timidly tested the $ 7000 mark.

At the end of the week, the top ten most capitalized assets look like this:

Data: CoinGecko

As you can see, none of these assets fell in price over the week. Over the past seven days, Bitcoin SV, Binance Coin and the OKEx token of the OKEx exchange have grown the fastest.

The total market capitalization is $ 191 billion, the BTC dominance index is 65%.

According to observations by Arcane Research, cryptocurrencyThe “fear and greed index” has been at extremely low levels for several weeks now, indicating investor uncertainty. In addition, the trend continues to increase volatility and lower trading volume.

Claims against the largest bitcoin companies

Against 11 cryptocurrency companies at once, including Binance, BitMEX, KuCoin and Tron Foundation, group lawsuits have been filed by investors accusing them of selling unregistered securities.

The lawsuits were filed on Friday, April 3, in courtSouthern District of New York They featured 42 defendants from the British Virgin Islands, Canada, Cayman Islands, China, Estonia, Hong Kong, Israel, Japan, Malta, Seychelles, Singapore, South Africa, Switzerland, Taiwan, the United States and Vietnam.

The documents state that each of the companiesI sold such tokens with the properties of securities either directly through the exchange through initial exchange offers (IEO), or in the form of initial offerings of coins (ICO).

In the case of Binance, KuCoin, Block.one, Quantstamp, Civic and Tron Foundation claims focused on ICOs and the sale of such tokens. The BitMEX exchange is accused of selling unregistered securities. Also on the list are BProtocol, Status, KayDex, BiBox and HDR Global Trading, and company representatives themselves: Brendan Bloomer, Dan Larimer, Winnie Lingham, Changpen Zhao and others.

Stormy Binance Activities

The outgoing week was extremely fruitful for Binance. So, on March 31, unofficial information appeared about the final stage of the purchase of the CoinMarketCap service by the exchange.

A few days later this information was confirmed. Under the terms of the deal, the founder of industry-leading analytical services, Brandon Chaz, will leave CEO, but will remain in the role of adviser.

Sources familiar with the situation claim thatThe transaction value is close to $ 300 million, and negotiations between the parties have been ongoing since November 2019. It is also known that Binance plans to significantly change the CoinMarketCap business model, abandoning advertising in favor of monthly payments from exchanges.

In addition, a few days ago Binance launched an over-the-counter trading portal, where the minimum amount for a transaction is equivalent to 10,000 USDT, and the maximum corresponds to 250 BTC.

It also became known about the exchange’s plans to launch its own mining pool.

Among other things, the popular trading platform added the ability to purchase cryptocurrencies using debit and credit cards Mastercard for 19 countries, including Russia and Ukraine.

Among the jurisdictions for which newoption also included: Brazil, Colombia, Czech Republic, France, Germany, Indonesia, Italy, Latvia, Mexico, Netherlands, Norway, Poland, Slovenia, Spain, Switzerland, Turkey, United Kingdom.

It is noteworthy that Binance removed the mention of Visa from the description of the upcoming payment card.

26 cents for the transfer of $ 690 million

On the first day of April, a Whale Alert Twitter account recorded a transfer of 101,857 BTC ($ 692 million at the rate at the time of writing) with a commission of only 26 cents.

Many users have expressed concerns that bitcoins will soon begin to be sold on exchanges, which could turn into a collapse of the cryptocurrency market.

However, Whale Alert hastened to reassure users - the transaction turned out to be an internal translation of the Xapo custodian.

Advice from Robert Kiyosaki

Robert Kiyosaki, the bestselling author of Rich Dad, Poor Dad, urged people to abandon savings in depreciating fiat currencies in favor of gold or bitcoin.

“Why make savings when the Fedprints trillions of fake dollars through quantitative easing? It has already moved from $ 82 billion per month to $ 125 billion per day. Why save if a zero interest rate policy pays zero to the losers? Make savings in gold (God's money), or in bitcoin (people's money) ”- wrote the entrepreneur.

Kiyosaki also noted that since 1971, the dollar has been a debt obligation that makes the rich even richer and the poor even poorer. In addition, he expressed concern about the growing US public debt.

“The USA is bankrupt. Debt, dollars and greed destroy lives and the global economy. Very sad. Keep gold, silver and bitcoin. ”

Another turn in the SEC case against Telegram

New York Southern District Judge Kevin Castelrejected Telegram’s request to lift the temporary ban on issuing Gram tokens for non-US investors. He was not convinced by the defendant's assurances that the coins would not fall into the hands of US residents in the secondary market.

The court agreed with the SEC’s arguments that according to the Howie test, a scheme consisting of selling SAFT contracts, distributing tokens and launching the secondary market can be considered a security.

Note that the launch of the Telegram Open Network shouldtake place before April 30, otherwise Pavel Durov will have to return funds to investors. Some investors have already expressed their readiness to leave the project, and third-party developers are discussing the possibility of launching a network without Telegram.

ForkLog will hold a large-scale online conference

April 11 at ForkLog Live held a large-scaleDigital Middle Ages online conference dedicated to the main challenges for the cryptocurrency and blockchain industry in the context of the financial crisis and the coronavirus pandemic. We will also talk about the new wave of the digital revolution and the role of distributed systems in it.

The event will consist of four blocks:

• Panel discussion - Fallout 2020: How to continue to work and do projects under quarantine and self-isolation. Life hacks for the blockchain business and the cryptocurrency holder.
• Digital sovereignty: personal data security under global total control. Protection of information in the context of intensified cybercrime.
• Panel discussion - Mining: how to work in the conditions of the global crisis and quarantine? What will happen to the power of the network.
• The economy of the future and the digital standard: Bitcoin instead of the Fed.

The conference will be attended by 22 speakers known in the crypto community.

You can become a conference sponsor by contacting the ForkLog commercial department via[email protected]or Telegram - @baverlast.

Our YouTube

A few days ago, representatives of the social network onCommun blockchain Konstantin Lomashuk and Nikolai Stefan, consensus protocol developer Andrei Sobol and ForkLog founder Anatoly Kaplan talked about the existing decentralized alternatives and tactics to deal with Internet giants.

Under the heading "Bitcoinization" permanentForkLog Live resident trader Ton Weiss shared his thoughts on the threats to the global economy that could be posed by widespread government intervention, including unprecedented central bank action, support for large businesses, and the introduction of basic income.