Barry Silbert posts can rise red flag to regulators

According to the securities lawyers, social media posts of Grayscale Investments Head can be considereded as attempts to manipulate the market
26 December 2017   2201

Experts on US stock market legislation are convinced that some tweets of the head of the investment fund Grayscale Investments Barry Silbert about the prospects for the Ethereum Classic course can be defined by financial regulators as attempts to manipulate the market. This is reported by Reuters.

It is risky. I think if I were advising Mr. Silbert, I would suggest that he is better off as a cryptocurrency expert at large rather than making specific comments on one particular cryptocurrency in which he has a heavy concentration of holding. If you have a fund that is issuing a security and the value of the security rises and falls with the price of a cryptocurrency and you are telling people to close their shorts in that cryptocurrency, that is a problem.

Trace Schmeltz 

Partner, Barnes & Thornburg law firm.

In addition, a partner of the law firm Bell Nunnally and a former high-ranking lawyer of the Securities and Exchange Commission of the United States (SEC) is convinced that the US Futures Trading Commission can take the necessary measures to stop the manipulation of the crypto currency market that the department considers to be goods.

It is worth noting that recently, on the eve of the Ethereum Classic conference, in the Discord social network, Barry Silbert publicly advised an ordinary trader to close short positions on ETC, hinting at a potential price increase.

Atlantis Ethereum Classic Hardfork Date Unveiled

It was agreed that the update will take place at block 8,772,000 and it should activate the changes that were proposed for the original ETH network in 2017
21 June 2019   773

During the videoconference on Thursday, June 20, Ethereum Classic developers came to an uneasy consensus on hardfork of a network called Atlantis, CoinDesk reports.

Despite certain differences, it was agreed that the update will take place at block 8,772,000. As expected, it will be found around 12:00 UTC on September 17 of this year.

In May, ETC developers disagreed on what improvements the upcoming hardfork should contain, but last Thursday they nevertheless found a consensus on the 10 proposals that should be included in the code of the future hardfork.

It is noteworthy that earlier in June, the developers agreed to launch Atlantis hardfork in the test network by the end of this month, while the launch of the code in the main network was to take place before the end of the summer.

However, a little earlier, Ethereum Classic Labs, the developer of the most popular client of the Classic Network Geth, insisted on activating hardfork on July 1. This decision was allegedly made under pressure from miners and exchanges based in Asia, which insisted on the fastest possible changes in the network.

At the beginning of the month about this was told by the Asian community manager Ethereum Classic Cooperative Christian Xu. However, a number of community representatives, including the founders of the research startup Gödel Labs Tang and Roy Zhou, accused Xu of falsifying such allegations.

We asked them about Atlantis. We got the normal ‘don’t care’ response. But several exchanges/miners also said that they’re not aware of this before. That makes me feel suspicious.
 

Tang Zou

Co-founder, Godel Labs

Passion was flared by the position of Ethereum Classic Labs and its CEO Terry Culver, who initially opposed the postponement of the hardfork to a later date.

I strongly disagree. We can’t subscribe to that schedule. We stick to the schedule that we originally agreed upon.
 

Terry Culver

CEO, Ethereum Classic Labs

Nevertheless, over the past few days, the position of Ethereum Classic Labs has changed towards a wider dialogue with the rest of the developer community. On Wednesday, the blog Ethereum Classic Labs posted an entry confirming these intentions and a new roadmap regarding hardfork.

The Atlantis update is paired with a slightly later upgrade called Agharta and should activate the changes that were formally proposed for the original Ethereum network in 2017. Their goal is to improve interoperability between the two blockchains and facilitate the migration of decentralized applications (dApps) from one network to another.