Prison for BitMEX founders, success for Justin Sun?
The first weekend of October, and again scandals, intrigues, investigations… There are victims, however (thank God) not among the civilian population, but in the ranks of cryptocurrencies. However, there was positive news as well: some people got their share of good luck. Here are the hottest events of the cryptocurrency market.
The veteran of the world of digital assets, the good old bitcoin, was badly ‘injured’ — the coin nosedived amid news that the US Commodity Futures Trading Commission (CFTC) accused the BitMEX cryptocurrency exchange of violating several regulatory requirements at once.
The owners of the platform and its director Arthur Hayes were charged with conspiracy, violation of the Bank Secrecy Act (BSA), money laundering and illegal trading in futures, options and swaps, which the exchange allegedly has been offering to retail traders since 2014.
Lawyers consider these charges very serious — the authorities will probably not limit themselves to fines, but will seek prison sentences for all those involved. After such harsh statements, BTC rapidly collapsed by more than four figures and reached an intraday low.
By contrast, Justin Sun was lucky again — it seems that he really managed to reveal the formula for success. The eToro trading platform announced the launch of stacking services for two popular tokens Cardano and Tron and became the first exchange to make such a decision.
eToro will make payments as part of its stacking service on a monthly basis. Thus, thanks to its offer, eToro can seriously compete with the Ethereum network, where both fees and confirmation time for transactions have increased significantly.
Right after this announcement, TRX strengthened slightly, and its founder, Justin Sun, responded to the news with a short tweet — ‘Amazing! 😎 🚀 💕 ‘ — wrote Justin on his social network.