QUOTE OF THE DAY
“Either you run the day, or the day runs you.”
The CFTC Might Be Looking Into The GDAX Flash Ether Crash
According to CoinDesk, the U.S. Commodity Futures Trading Commission (CFTC) is reportedly making inquiries into the ether flash crash that occurred earlier this year on Coinbase's GDAX trading platform.
If you don't remember what happened, someone dumped several million dollars worth of Ether (ETH) on the GDAX ETH-USD order book. According to GDAX, this sale of ETH resulted in orders being filled from $317.81 to $224.48, translating into a book slippage of 29.4%. The result of this slippage was about 800 stop loss ordersand margin funding liquidations.
If you also don't remember, Coinbase also decided to credit all customers who were impacted by this event.
Oh, and last year the CFTC fined Bitfinex for not respecting margin trading laws, among other infringements.
BTCC Brings Chinese Trading to a Close
BTCC, an international cryptocurrency exchange with headquarters in China, has announced it has ceased all domestic trading activities.
CoinDesk reports that the closure of the exchange's China-facing trading operations comes following a statement from financial regulators on September 4, which banned developers and entrepreneurs from launching token sales (or ICOs) within the country. Exchanges in the country have since "voluntarily" decided to cease trading activities, though regulatory pressure is widely believed to have been the catalyst.
THINGS I LIKE
Is Bitcoin A Bubble?
Ok ok, I know you've had it up to here with "hue hue is Bitcoin bubble?1?!" articles, but this one is actually pretty good.
There Never Was a Real Tulip Fever
While we're on the topics of bubbles, did you know where was never really a tulip fever? That's right, apparently historians have their own bubble to burst.
Read more about this here.
My Current Sentiment: Neutral
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