Weekend Reads | Investor: Bitcoin could be benefiting from the economic crises around the world | Unlawful practices hit top cryptocurrency exchanges, including Binance
|Jun 9||Public post|| 4|
Bitcoin has been on a 174 days bull rally since the low of Dec. 15, 2018, when it was trading at $3,150, which has seen its price surge 188 percent reaching $9,070 on May 30.
The most recent market surveillance report from the Blockchain Transparency Institute claims that Binance, the world’s biggest cryptocurrency exchange by trading volume, shows signs of wash trading.
The recent spike in bitcoin prices and the skyrocketing number of daily outputs has had a direct impact on the transaction fees and the congestion of the mempool.
The Siam Commercial Bank (SCB), the largest commercial bank in Thailand, retracted a statement about using Ripple’s XRP token. The bank quickly issued a correction saying it had no plans on using XRP “as of now.”
Jay Clayton, chairman of the SEC, spoke about the Commission’s take on the cryptocurrency industry. In an interview with CNBC, Clayton said that unlike the crypto market there are “sophisticated” rules in place to prevent the stock market from being manipulated.
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