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#1 WSJ: CME and BTC Exchange Dispute Led US Regulators to Open Price Manipulation Probe
#2 Study Shows That 1/3 of All Bitcoin Owned by 1,600 Wallets
#3 The Top 5 Ethereum Dapps By Daily Active Users
#4 BTC Exchanges Must Turn Over Infos in Manipulation Investigation
#5 This Japanese Exchange Will Borrow Your Bitcoin for a Yearly Fee
#6 Regulatory Concerns Dampen Bitcoin Volatility
1. Regulators from the US Commodity Futures Trading Commission (CFTC) reportedly demanded extensive trading data from several cryptocurrency exchanges, people familiar with the matter told the Wall Street Journal June 8. Regulators requested data in order to investigate whether manipulation might be compromising prices in digital currency markets.
The probe followed the launch of Bitcoin (BTC) futures by CME Group in December last year. CME forms its Bitcoin (BTC) futures prices based on data from four crypto exchanges; Bitstamp, Coinbase, itBit and Kraken, where manipulative trading could reportedly have distorted the value of BTC futures. Investigators are going after trading schemes that can be used to manipulate the price of BTC futures that the government directly regulates.
Read more on: https://cointelegraph.com/news/wsj-cme-and-btc-exchange-dispute-led-us-regulators-to-open-price-manipulation-probe
2. The Express reported that figures from Chainalysis, a well-known cryptocurrency analysis firm, show that over one-third of all Bitcoin is in only 1,600 wallets.
1,600 Wallets Hold Over 1/3 of All Bitcoin
This issue has been no secret in the cryptocurrency community, with small investors in the space continually dubbing these wallets as ‘whales.’ The aforementioned 1,600 wallets all have more than 1,000 Bitcoin each, with 100 of these wallets containing over 10,000 Bitcoin, reports the Express.
At current market prices, 10,000 Bitcoins clocks in at a staggering $75 million U.S., which is by no means a figure to scoff at.
Chainalysis chief economist Phillip Gladwell specifically stated:
“This concentration of wealth means that bitcoin is at risk of volatility as the moves of a small number of people will have a large price effect.”
This has become a valid worry, with the trustee of the Mt.Gox exchange dumping thousands of Bitcoin on public exchanges, further fueling Bitcoin’s short-term bearish trend.
Read more on: https://www.newsbtc.com/2018/06/10/study-shows-that-1-3-of-all-bitcoin-owned-by-1600-wallets/
3. From the mists of ideation, a first wave of ethereum dapps is starting to emerge.
Launched in 2015 with the promise that developers could use its technology as a "secure backbone" for a new kind of software application, ethereum has long held the promise of enabling such innovations, all "without any possibility of downtime, censorship or third-party interference."
So far, however, this vision has largely fueled an explosion of fundraising through initial coin offerings (ICOs), in which ethereum-based tokens were sold as the native currency for applications that were ostensibly being built, but in many cases have yet to see a real launch.
Read more on: https://www.coindesk.com/top-5-ethereum-dapps-daily-active-users/
4. U.S. government officials have ordered multiple cryptocurrency exchanges to fork over comprehensive trading data in order to aid in their investigation of whether or not cryptocurrency markets are being manipulated.
Read more on: http://bitcoinist.com/4-exchanges-must-turn-over-comprehensive-information-to-us-government-investigators/
5. In an apparent step to increase liquidity and attract users, Japanese cryptocurrency exchange Bitbank has announced a bitcoin burrowing program.
One of Japan’s 16 full-licensed cryptocurrency exchanges, Bitbank offers eight cryptocurrency trading pairs and is ranked 31st in the world in terms of total daily traded volume.
Read more on: https://www.ccn.com/this-japanese-exchange-will-burrow-your-bitcoin-for-a-yearly-fee/
6. While cryptocurrency markets have received some regulatory updates this week, the widespread uncertainty surrounding how government agencies will treat these assets going forward has hindered Bitcoin trading, reducing volumes and clamping down on volatility.
Read more on: https://www.forbes.com/sites/cbovaird/2018/06/08/regulatory-concerns-place-damper-on-bitcoin-volatility/#2ee116828bd8
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