Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[VB1001]

Added a simple monthly stat from www.wohats.com
As a test, we will see how it evolves.

#StrongHats

[1713503797]

1713503797

[1713503797]

1713503797

[1713503797]

1713503797

[Torque]

https://twitter.com/stephendpalley/status/1311694266389929986

BREAKING: CFTC sues Bitmex, Arthur Hayes "to enjoin their ongoing illegal offering of commodity derivatives to U.S. persons, their acceptance of funds to margin derivatives transactions from individuals and entities in the U.S., & their operation of a derivatives trading platform

yay the drama we need

meh...pretty sure could have done without all of this

You know this market is still dead when little excuse is needed to dump, but can find little reason to barely go up. Still range bound, overall volume still anemic. Sorry not being a pessimist, just calling the market like I see it rn.

[Last of the V8s]

https://twitter.com/stephendpalley/status/1311694266389929986

BREAKING: CFTC sues Bitmex, Arthur Hayes "to enjoin their ongoing illegal offering of commodity derivatives to U.S. persons, their acceptance of funds to margin derivatives transactions from individuals and entities in the U.S., & their operation of a derivatives trading platform

yay the drama we need

meh...pretty sure could have done without all of this

#pissoffCFTC

https://www.cftc.gov/PressRoom/PressReleases/8270-20

[Last of the V8s]

Arthur's going to jail Panama

[Paashaas]

I just love all the drama every freaking day.

[explorer]

   Damn.  As long as loose fruit keeps falling out, they'll keep shaking the tree.  Need a monkey up there to fling down some poo...

[Biodom]

Re bitmex.
It's like 2013 and the Silk road bust, which made btc acceptable for hedge funds to invest.
Now, to make it 'investable' for 'serious' institutions (or MAYBE even countries) bucket shops like bitmex with 100X leverage had to be at least slowed down if not impaired.
I know that people love to play with margin, but there is ledgerX in US (should get more business as a result).
Not sure if Deribit will also be 'punished' at some point.
Whether or not this is 'good' or 'bad'-time will tell.

[criptix]

BitMEX CTO got arrested.

Mex users on the brink of panic (i am) - if they arrest one more mex gonna likely lose access to their multisig wallet lol...

Traders unwinding their position to leave bitmex could make crazy swings in the spot market.

[VB1001]

The U.S Commodity Futures Trading Commission, or CFTC, has charged the BitMEX derivatives exchange with operating an unregistered trading platform and violating anti-money laundering regulations.

According to a statement released Thursday, the CFTC filed a civil enforcement action in the Southern District of New York against five entities and three individuals who allegedly own and operate the exchange.

The individuals charged include Arthur Hayes, publicly known as the CEO of BitMEX, as well as Ben Delo and Samuel Reed. The CFTC alleges that these individuals are owners and operators of BitMEX through a “maze of corporate entities.”

The aforementioned corporate entities, who are also cited as defendants in the case, are HDR Global Trading Limited, 100x Holding Limited, ABS Global Trading Limited,Shine Effort Inc Limited, and HDR Global Services (Bermuda) Limited (BitMEX).

The CFTC seeks disgorgement, or restitution of all “ill-gotten gains,” civil monetary penalties, permanent trading bans and injunctions against future violations.

https://cointelegraph.com/news/cftc-charges-bitmex-with-illegally-operating-derivatives-exchange

[Biodom]

BitMEX CTO got arrested.

Mex users on the brink of panic (i am) - if they arrest one more mex gonna likely lose access to their multisig wallet lol...

Traders unwinding their position to leave bitmex could make crazy swings in the spot market.

well, then i will send more $$ to purchase a bit.
...pinky swear.

[Torque]

Re bitmex.
It's like 2013 and the Silk road bust, which made btc acceptable for hedge funds to invest.
Now, to make it 'investable' for 'serious' institutions (or MAYBE even countries) bucket shops like bitmex with 100X leverage had to be at least slowed down if not impaired.
I know that people love to play with margin, but there is ledgerX in US (should get more business as a result).
Not sure if Deribit will also be 'punished' at some point.
Whether or not this is 'good' or 'bad'-time will tell.

Any crypto exchanges creating a byzantine Rube Goldberg machine of derivatives on top of derivatives with 100X leverage and complex yield structures with no regulatory oversight are a huge risk to investing in Bitcoin, and need to be brought down. They are basically creating and enabling digitized Ponzi scams, worse than the ICO scams.

[600watt]

let us hope $10200 holds this dump.

[rolling]

Re bitmex.
It's like 2013 and the Silk road bust, which made btc acceptable for hedge funds to invest.
Now, to make it 'investable' for 'serious' institutions (or MAYBE even countries) bucket shops like bitmex with 100X leverage had to be at least slowed down if not impaired.
I know that people love to play with margin, but there is ledgerX in US (should get more business as a result).
Not sure if Deribit will also be 'punished' at some point.
Whether or not this is 'good' or 'bad'-time will tell.

I think Deribit charges are soon to follow. Not everyone is aware yet of why the market is tanking right now. Expect further drops as the news circulates.

I wonder how many BTC are going to be stuck on their platform and for how many years?

[Last of the V8s]

aka the crime of sneering at a banana republic

go after them for rigging the market, a true crime? nah

[soullyG]

Prepare the fiat cannons! This is the kind of dip I can get behind

[machasm]

Not your keys Not your coins.
Personally I dont know why people are selling?
Just take your BTC off the exchange.
Or do most people using Bitmex dont have personal wallets?
What gives?

[El duderino_]

https://twitter.com/stephendpalley/status/1311694266389929986

BREAKING: CFTC sues Bitmex, Arthur Hayes "to enjoin their ongoing illegal offering of commodity derivatives to U.S. persons, their acceptance of funds to margin derivatives transactions from individuals and entities in the U.S., & their operation of a derivatives trading platform

yay the drama we need

Who is this Hayes character??

[Biodom]

https://twitter.com/stephendpalley/status/1311694266389929986

BREAKING: CFTC sues Bitmex, Arthur Hayes "to enjoin their ongoing illegal offering of commodity derivatives to U.S. persons, their acceptance of funds to margin derivatives transactions from individuals and entities in the U.S., & their operation of a derivatives trading platform

yay the drama we need

Who is this Hayes character??

you are kidding, right....he is one 'smart-ass' guy wearing jobs-style turtleneck (has kind of super huge mouth/smile).
look for pics with sunglasses (Alps?)

[nullius]

https://twitter.com/stephendpalley/status/1311694266389929986

BREAKING: CFTC sues Bitmex, Arthur Hayes "to enjoin their ongoing illegal offering of commodity derivatives to U.S. persons, their acceptance of funds to margin derivatives transactions from individuals and entities in the U.S., & their operation of a derivatives trading platform

yay the drama we need

BitMEX CTO got arrested.

(etc...)

Smooth move.

I have noticed that many sites nowadays ban Americans together with the slaves “citizens” of other notoriously “free” countries, such as the Democratic People’s Republic of Korea.

I always get a laugh when I see the United States on one of those “rogue state people, go away” TOS lists.  Too bad—it must pretty much suck for any sane individual Americans and/or North Koreans.

[fillippone]

BitMEX CTO got arrested.

Mex users on the brink of panic (i am) - if they arrest one more mex gonna likely lose access to their multisig wallet lol...

Traders unwinding their position to leave bitmex could make crazy swings in the spot market.

Well, you are not the only one.
Apparently they hold 193K BTC in their wallets!

Bitmex has ~$2b worth of Bitcoin in their vaults (around 193k BTC) Flushed face

https://twitter.com/nic__carter/status/1311706827982360576?s=20


Apparently it's a 3 of 4 setup, so yes, one more arrest and those coins are gone (not really, but you got that one)