Day: September 18, 2023

Crypto influencer arrested in Hong Kong for JPEX association

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A Hong Kong-based social media influencer has reportedly been arrested after investigations around the liquidity crisis of the crypto exchange JPEX traced back their involvement. Hong Kong police reportedly arrested crypto influencer Joseph Lam (Lin Zuo), who goes by the username “jolamchok” on Instagram, for his association with JPEX, according to a South China Morning Post report. In addition, the report suggests that the police raided his office and seized boxes of evidence, including a plastic bag containing banknotes. According to a local report, the Securities and Futures Commission of Hong Kong…

Crypto Whale Trades $150M in Ether (ETH) Call Options, Data Tracker Greeks.Live Shows

The large flow was concentrated in the so-called out-of-the-money (OTM) calls at strike levels well above ether’s current market price of $1,633. Whales blocked over 40,000 contracts of ETH December expiry call at $2,200 and nearly 50,000 contracts of October expiry call at $2,000. A block trade is a large transaction negotiated over-the-counter of outside of the exchange’s order book to ensure minimum impact on the market price of the asset. Block traders are considered a proxy for institutional activity. Source

Jordan Peterson Sparks Debate On How Bitcoin Can Solve Major Banking Problem

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The flagship cryptocurrency, Bitcoin, was created with the goal of disrupting the traditional financial system. In support of this, Best-selling Author and Clinical Psychologist Jordan Peterson has suggested that customers should abandon the banking system and probably adopt Bitcoin. Jordan Peterson Says Bitcoin Over Banks  Peterson was making this suggestion in response to a news report that Macquarie Bank, Australia’s fifth largest bank, was planning to transition to a digital-only banking system by November 2024. In line with this, the bank will begin phasing out cash, cheque, and phone payment…

9 US senators publicly back Elizabeth Warren’s crypto bill

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Nine United States Senators have added their support to Senator Elizabeth Warren’s Digital Asset Anti-Money Laundering Act, according to a statement from Warren’s office.  The press release on Warren’s official senate webpage names Democratic Party Senators Gary Peters, Dick Durbin, Tina Smith, Jeanne Shaheen, Bob Casey, Richard Blumenthal, Michael Bennet and Catherine Cortez Masto, along with independent Senator Angus King, as those who joined the bipartisan coalition supporting the bill. Peters is the chair of the Senate Homeland Security and Governmental Affairs Committee, while Durbin is the chair of the Senate Judiciary Committee.…

Crypto Exchange JPEX Halts Trading, HK Police Arrest an Influencer

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Hong Kong police has arrested a social media influencer, Joseph Lam Chok this morning (Monday) for his involvement with the cryptocurrency trading platform, JPEX, which is facing allegations of fraud, according to the South China Morning Post. The arrest came hours after the troubled exchange confirmed the suspension of trading activities following a probe by Hong Kong’s Securities and Futures Commission (SFC). “Due to the unfair treatment by relevant institutions in Hong Kong towards JPEX, a cryptocurrency trading platform, and a series of negative news, our partnered third-party market makers…

Ether (ETH) Prices are Trading at 27% Discount to Fair Value, New Research Shows

Per the Metcalfe law (ML), the value of the network is directly linked and proportional to the square of the number of users it has. Ether enables users to transact on the Ethereum blockchain, earn interest, and participate in network security through staking, store non-fungible tokens and much more. Thus, ether’s value proposition has long been closely tied to Ethereum’s network usage. Source

Scaramucci leads bidding for Silicon Valley Bank VC arm: Report

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SVB Financial Group, the former parent company of Silicon Valley Bank is getting closer to a deal that will see the institution sell its venture capital arm SVB Capital. According to a Sept. 15 report from the Wall Street Journal — citing sources familiar with the matter — Anthony Scaramucci’s SkyBridge Capital and Atlas Merchant Capital are jostling with the San Francisco firm Vector Capital in the final stages of the bidding process. Sources claimed that SVB’s venture capital arm could be sold off for between $250 million and $500…