The CEO of BitMEX, Arthur Hayes, is in the latest cryptocurrency news. After revealing a research done by his company which listed 12 ICOs that raised more than $50 million, Hayes said that the next year will be “reckoning” for (the regulation of) initial coin offerings.
The tokens listed on BitMEX included:
- Orchid Protocol
- Oasis Labs
As Hayes added in the official newsletter:
“These deals have massive valuations, and many of the most venerated token funds took down large chunks. It is unclear when, if ever, these deals will ever list on the secondary market.”
He also humorously commented the ICOs and their sobering outlook, in which he declared that he has heard some “anecdotal reports” that funds which purchased large blocks of these tokens are actually looking to sell them – before market listings – and that they are looking to do so on a discount basis.
Hayes also seems like a big believer in ICOs – but thinks that most or all of these tokens will have no actual value in the future. The recent reckoning brought on by the federal government enforcement actions is playing hell with the innovative ICO space. As he said:
“Given the large amount of token supply out there, who will buy this sh*t?”
A deeper analysis of ICOs by BitMEX also found that the majority of them had sold the Ether that they raised – which only a total of 25% actually held.
Coinbase Adds PayPal Withdrawals To Its Platform (For U.S. Citizens)
“There is new technical work to make this possible, and that was done in conjunction with PayPal.”However, this Friday Osgood wrote that the partnership provides Coinbase customers an alternative to the traditional federal wire or automated clearing house (ACH) network that they were required to use. As he said:
“These traditional finance networks can add up to two business days to a withdrawal. We’re always looking for ways to not only meet the bar set by traditional finance, but raise it. That’s why we rebuilt our integration to ensure that the speed and reliability of PayPal withdrawals does just that.”The service is for now only available to customers in the United States, but could continue to be added to other nations across 2019, as Osgood wrote.
Bitcoin Plunges To A Yearly Low, Market Is ‘Prepared’ To Go Below $100 Billion
“As BTC is approaching the target of the 2014 fractal the targets of most people change from 3k to 1k and even lower. I still think $2,700 is an excellent place to buy if we should go there. ‘History doesn’t repeat itself but it often rhymes.’”Currently, there is a big risk in shorting and longing Bitcoin and other major cryptocurrencies in the market, which is why investors are observing the short-term trend of the crypto market by holding out on their trading activity.
TRON’s DApp Usage Jumps 48% To +1 Million Transactions Last Week
“This week, the 24-hour transaction number for Dapps reached 1.04M, a 48% increase compared with last week; the 24-hour trading volume hit 640M TRX, an 151% increase compared with last week. We have seen significant increases in both indexes […]”One of the most interesting projects built on Tron is Seedit which is a decentralized platform that lets users contribute funds to the content creators that they most appreciate. Project Atlas is also a well-known project which incentivizes people to seed content on the BitTorrent protocol, which was acquired by Tron back in July this year.
Bitcoin Cash Drops Again By 15 Percent While Other Cryptocurrencies Take A Stronger Hit
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