Bitfinex Under Investigation / Circle Granted Finra License / Crypto Markets Tank / Bitmain Backs Away From BCH

Inside Bitcoin presented by O'Reilly. $BTC (2:55 p.m. EST): $5,228.51 (-5.41%) // 90-day high: $5,642.04 // 90-day low: $3,391.02 / / More… $BCH ABC (2:55 p.m. EST): $259.98 (-7.81%) // 90-day high: $342.87// 90-day low: $108.89 // More

Presented by Subscribe | View in browser $BTC (2:55 p.m. EST): $5,228.51 (-5.41%) // 90-day high: $5,642.04 // 90-day low: $3,391.02 / / More… $BCH ABC (2:55 p.m. EST): $259.98 (-7.81%) // 90-day high: $342.87// 90-day low: $108.89 // More… $ETH (2:55 p.m. EST): $154.73 (-6.54%) // 90-day high: $184.38 // 90-day low: $102.93 // More… $LTC (2:55 p.m. EST): $72.13 (-2.62%) // 90-day high: $97.50 // 90-day low: $30.44 // More… $XRP (2:56 p.m. EST): $0.29 (-2.87%) // 90-day high: $0.37 // 90-day low: $0.28 // More…       1. The New York attorney general is investigating prominent cryptocurrency exchange Bitfinex after accusing it of using illicit transactions to mask $850 million in missing funds. New York State Attorney General Letitia James has accused Bitfinex of taking $850 million dollars worth of the stable coin Tether from its bank account to cover shortfalls in its own. Tether is a stable coin that is backed by a revolving line of credit from Bitfinex. Bitfinex withdrew a substantial amount of bitcoin and ethereum from their cold wallets this morning totaling $185 million. -FORTUNE       2. Crypto finance company, Circle, has been granted a license from FINRA to operate an alternative trading system for secondary market trading of equities launched through its SeedInvest platform. Users of SeedInvest will now be able to buy and sell shares of startups who raised capital through the platform on the secondary market after their initial investment. SeedInvest is the first equity crowdfunding platform in the U.S. to receive FINRA approval allowing the trading of secondary securities. -THE BLOCK       A MESSAGE FROM O'REILLY The O'Reilly Software Architecture Conference Our program is designed for anyone making architecture-level decisions. Join hundreds of the best and brightest engineers, senior developers, tech leads, architects, and managers to discover what companies like Google, IBM, Ticketmaster, and Pivotal have learned in their real-world experiences. Save 20% with code INSIDE20.  3. The crypto markets shed $10 billion on Thursday and prices continue to decline into Friday. The top cryptocurrencies by market cap -- Bitcoin, Ethereum, XRP and Bitcoin Cash -- are down a combined 16% in the past 24 hours and no currency in the top 10 by market cap has a positive price change in the past 24 hours. The drop coincided with news that the New York State Attorney General's office had accused Bitfinex of using illicit funds to cover its own shortfall, the sell-off and decline in cryptocurrency prices began throughout. -COIN DESK       4. Bitmain is distancing itself from its ex-CEO and founder Jihan Wu and the cryptocurrency Bitcoin Cash. After its failed IPO and listing on the Hong Kong Stock Exchange, Bitmain - now under new management - will pull back support for Bitcoin Cash. When Bitmain filed its prospectus with Hong Kong regulators, it showed that it was holding just over 1 million BCH worth $900 million at the time. During the fork and creation of Bitcoin Cash and under the direction of Jihan Wu, Bitmain deployed 90,000 of its own mining rigs in favor of Bitcoin Cash mining. -COIN GEEK       A MESSAGE FROM ASANA Spend less time on busy work and make more time for the work that matters most.  Asana is the work management platform that helps teams organize goals, plan projects, collaborate on tasks, and automate recurring processes—all in real time, all in one place. In fact, customers report that Asana helps them achieve their goals 45% faster. Try it today and get 1 month free!  5. CryptoKitties parent company, Dapper Labs, releases a new Ethereum based wallet called Dapper built for blockchain gaming. -SLUDGE FEED 6. Bitcoin accounts for 95% of cryptocurrency involved crime, according to Chainalysis. -FORTUNE 7. Cryptocurrency broker-dealer Genesis Global Trading loaned $1.53 billion in crypto to institutional borrowers in the past year. -REUTERS 8. Beefchain is the first company to receive certification from the United States Department of Agriculture for a blockchain company. -FORBES 9. Tobacco giant Phillip Morris is going to use a public blockchain to track tax stamps and reduce the paperwork process. COIN GEEK 10. Follow Friday: Alex Adelman., at @ALEXADELMAN : Adelman is the founder and CEO of Lolli, a browser extension that allows you to earn bitcoin rewards when you shop online with their 500+ brand partners. Adelman continually educates his followers on bitcoin and cryptocurrency by sharing original thoughts and articles from reputable sources. You can listen to him talk about Lolli and bitcoin on the latest Baselayer podcast.       Written and curated by Darren Webb. He created Currencylists and has worked in marketing roles for a multitude of cryptocurrency and blockchain projects since 2014. Based in NYC, Darren loves to read and continue to learn about cryptocurrency and emerging technology in his spare time. You can find him on Twitter @Dwebbny. Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside); Susmita Baral (senior editor at Inside, who runs the biggest mac and cheese account on Instagram); and David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

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