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24 October 2020

Big Bitcoin prediction, OKEx spooks markets, Ripple exec’s crippling mistake: Hodler’s Digest, Oct. 12–18

Big Bitcoin prediction, OKEx spooks markets, Ripple exec’s crippling mistake: Hodler’s Digest, Oct. 12–18


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Bitcoin exchange reserves have also continued to plummet, indicating there’s a shortage of sellers… or a lack of trust in centralized platforms.

OKEx, a major crypto exchange, spooked the markets this week by announcing that it had suspended withdrawals.

In the immediate aftermath of Friday’s statement, Bitcoin fell nearly 3%, while OKEx’s native token, OKB, crashed 15%.

The Chinese news agency also reported that he was investigated “at least a week ago” and had been absent at work for some time.

The Bitcoin Association’s president, Leo Weese, wrote: “That one person sits in China holding the keys to an entire offshore cryptocurrency exchange is probably the most surprising thing about this industry I learned this year.That customers don’t demand transparency about key management comes in at a close second, though.”.

Staff at Coinbase fear that the exchange’s leadership are watching their every move and monitoring their messages, it has been reported.

He described himself as a “risk averse person with people who depend on me financially and emotionally”but admitted that selling his crypto at this bargain basement prices “hurt.”.

At the end of the week, Bitcoin is at$11,435.68, Ether at$375.90 and XRP at$0.24.

Rapid growth of institutional investments in crypto has prompted 10T Holdings co-founder Dan Tapiero to warn that shortages of Bitcoin could be on the horizon.

The speculation about a potential supply-side crisis around Bitcoin also coincides with the post-halving cycle.Bitcoin went through its third halving on May 11, and historically, halvings lead to extended bull runs in the two years that follow.

In a statement that pulled few punches, the Group of Seven wrote: “The G7 continues to maintain that no global stablecoin project should begin operation until it adequately addresses relevant legal, regulatory, and oversight requirements through appropriate design and by adhering to applicable standards.”.

Europol has announced that 20 individuals suspected of working for the “QQAAZZ” criminal network have been arrested in an operation that spanned 16 countries.

Gox crypto exchange is known for encountering the largest cryptocurrency hack in history.The exchange lost a total of 1.35 million Bitcoin in two hacks in 2011 and 2014

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cointelegraph.com
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