Market Watch | Bitcoin | $10,875 | 7 day: +2.6% | | Ethereum | $352 | 7 day: unch | | All crypto | $344b | 7 day: +2% | | Bitcoin dominance | 58.5% | 7 day: +0.4% | Prices as of 3:50 p.m. EDT
| |
 DoJ Cryptocurrency Enforcement Framework U.S. Dept. of Justice Attorney General William Barr publishes a new enforcement framework to prevent cryptocurrency crimes. The 83-page document provides stern warnings to exchanges, cryptocurrency issuers, and money transmitters. - The framework addresses "mixing" and "tumbling," "chain hopping," and certain instances of jurisdictional arbitrage that may facilitate criminal activity.
- The full PDF is here.
- The document has numerous directives for business and cryptocurrency entities that serve U.S. users.
- It calls out international exchanges for their failure to follow anti-money laundering (AML), know your customer (KYC), and combating the financing of terrorism (CFT) regulations.
- It reiterates that the DoJ filed criminal charges against BTC-e, and the Financial Crimes Enforcement Network (FinCEN) assessed a $110m civil penalty, for willfully violating AML laws, plus a $12m penalty against the exchange's operator.
U.S. Dept. of Justice 
| |
Last month's KuCoin hack is the third-largest exchange hack in cryptocurrency history, eclipsed only by two Japanese exchanges, Mt. Gox and CoinCheck. In today's edition of Inside Cryptocurrency Premium, we take a look back at the industry's third-largest hack, including new updates from this week. Importantly, we look at how ostensibly decentralized projects suddenly discovered their centralized powers when an opportunity arose to advertise their goodwill to customers. Join us with a free 14-day trial on all new subscriptions! UNLOCK  | | | |
 A message from TEAMISTRY How are you re-imagining your company's teamwork? Teamistry is the chemistry of unsung teams who achieve the impossible. In season two, host Gabriela Cowperthwaite looks beyond the heroics of a single team and focuses on the power of multiple teams working together. How groups of teams embrace uncertainty, innovate, and tackle massive challenges. Listen Today
| |
Deputy Secretary of the U.S. Treasury Justin Muzinich held an upbeat presentation regarding distributed ledger technologies. - Muzinich spoke favorably about distributed ledger during a webinar on Oct. 7 with the Deputy Director of Geoeconomics of the Atlantic Council Julia Friedlander.
- Muzinich's focus was on the pandemic situation in the U.S and Europe and transatlantic policy areas, including security investments and cryptocurrencies, where cross-border cooperation is critical.
- Calling cryptocurrencies "fascinating," the Deputy Secretary said distributed ledgers have implications on private business and certain government services.
- We will continue to report on the U.S Treasury and the Federal Reserve's research into a USD central bank digital currency (CBDC).
The Block Crypto
| |
The fallout from Bitfinex's $72m hack from 2016 continues. This week, hackers moved $26m of those stolen funds. - The popular Twitter account Whale Alert picked up the movement of crypto funds worth $26m on Oct. 7.
- Hackers moved funds through seven consecutive transactions. The chain of transactions on Wednesday involved bitcoins worth $4.2m to $4.8m apiece.
- A similar pattern of moving stolen bitcoin belonging to Bitfinex's hack occurred in late July and early August.
- Background: In 2016, a group of hackers managed to breach Bitfinex and stole approximately 120,000 bitcoin. (Worth $72m bitcoin at that time, that quantity of bitcoin today would be worth $1.2b.) The exchange attempted to bail-in those losses, socializing the hack from its customers' accounts, and offering rewards for hacker identification.
| |
 A message from HUNTERZ Hunterz.io makes your network work for you. We have startups who need your knowledge. If you're an insider, connector, or sales leader who can make connections, go to Hunterz.io & get paid per intro. Learn more
| |
Quick Hits: - Gemini lists Aave (AAVE) but not its related cryptocurrency, LEND.
Recalling Coinbase CEO Brian Armstrong oddly generous exit package for employees who disagreed with his views, Coindesk has learned that 5% of employees have accepted his offer. - The CEO of Swipe (SXP) enigmatically tweets that he will launch a crypto-to-USD card tomorrow, which caused an immediate 10% surge of SXP's price.
- Indian cryptocurrency exchange Unocoin raises a $3.5m Series A led by Tim Draper along with participation from XBTO Ventures, 2020 Ventures, and others.
- Ethereum's hashrate reached an all-time high of 254,000 gigahash per second on Oct. 6 amid the decentralized finance (DeFi) boom.
- Jack Dorsey's Square (NYSE:SQ) buys $50m worth of bitcoin, worth 1% of Square's assets.
- Professional services provider KPMG International reveals a blockchain-based Climate Accounting Infrastructure solution, which will help organizations measure, report, and offset greenhouse gas emissions. KPMG has partnered with Context Labs, Prescriptive Data, and blockchain firm Allinfra.
- Canadian artist Shane Lee Lindstrom, a.k.a. Murda Beatz, endorses bitcoin.
- A chairman at Malaysia's Securities Commission notes that Malaysian investors require more time to understand cryptocurrency according to Shariah law.
- See how leading sales teams are solving their challenges of selling remotely.*
*This is a sponsored post. We're hiring! Check out our available positions:
| |
 |  | Written and curated by wide-eyed bitcoin watcher since $1, Aaron Wise. Streaming headline junkie, Associated Press fanboy, eye-strained news terminal watcher, 2017 founder of Cryptocurrency Newsfeed. Temporarily based in Florida while awaiting the construction of cryptopia. |  | | Editor | Edited by Eduardo Garcia in New York. Eduardo is writing an illustrated book about climate change that will be published by Ten Speed Press, an imprint of Penguin Random House. Bylines in The New York Times, The Guardian, Slate, Scientific American, and others. In one of his previous lives, Eduardo worked as a Reuters correspondent in Latin America for nearly a decade. | |
Each episode of Teamistry tells a story with practical lessons for your team, and your business. | |
