News: Bitfinex/Tether subpoena, AriseBank vs SEC, Facebook bans crypto ads

  • Frank Chung’s story on Tether yesterday is an excellent and comprehensive mainstream press article on the Bitcoin and Tether situation — and has comments from me and a link to Sunday’s post.
  • The USDT/USD trading pair on Kraken (go to top right, select “USDT/USD”) now seems to be what the world has decided is the price discovery mechanism for tethers, and a lot more buy orders have shown up since Sunday. If someone — presumably Tether — is market-making properly, with suitably close and large buy and sell walls, then good — that’s how a peg is supposed to work. At 2003 UTC today, one USDT was $0.9830, and there was a $1m wall at $0.9811. GDAX and Bitfinex prices for Bitcoin are closer today.



  • The SEC squashes AriseBank like a bug — assets frozen, court-appointed receiver. “The SEC alleges that AriseBank falsely stated that it purchased an FDIC-insured bank which enabled it to offer customers FDIC-insured accounts and that it also offered customers the ability to obtain an AriseBank-branded VISA card to spend any of the 700-plus cryptocurrencies. AriseBank also allegedly omitted to disclose the criminal background of key executives.”



  • How nuts is graphics card pricing? So nuts that it’s cheaper to buy a high-end pre-built system — Dell or whatever — just for the graphics card. Gamers discovered this first, miners are discovering it now. (No links, but I’ve seen multiple reports of people doing this.)



  • “Is you takin’ notes on a criminal f—in’ conspiracy?”
    “No, I’m scripting a video about it.”


  • The interview with me in Jungle.World (Germany) is now free to read (translation). I’ll put my original answers in English up when the next issue is out.
  • January discount on Attack of the 50 Foot Blockchain at Kindle UK and Kindle US only has today and tomorrow to go!
  • A Twitter thread by someone who read Attack of the 50 Foot Blockchain and Neoreaction a Basilisk (US, UK) together, and discusses their similarities and differences. This is the review of my book that has delighted me most.



  • It’s raining buttcoins.


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3 Comments on “News: Bitfinex/Tether subpoena, AriseBank vs SEC, Facebook bans crypto ads”

    1. oh good Lord. 0010 UTC 31 Jan: price is 0.9845, then there’s nothing in the buys until the $1m wall at 0.975 … and no, I don’t believe the $1m walls behind that either. At the moment I type this, you would need to sell literally one hundred and forty-four Tethers to drop the price 1c. Which is rather a drop for a supposed pegged dollar token.

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