Coinbase interrogated by US CFTC on ETH price crash

Coinbase iterrogated by the U.S. Commodity Futures Trading Commission (CFTC) on Ethereum price crash occurred in June
03 October 2017   1747

Coinbase becomes the object of the attention from the US Futures Trading Commission (CFTC) in connection with the incident happened in June this year, when the price of Ethereum on the GDAX exchange dropped to almost zero for a few moments. That resulted in the loss of funds for some users. 

Back then, the crash was triggered by $12.5 million trade that caused other traders to panic sell and automatic sell orders to initiate. Coinbase compensated traders who were impacted by the flash crash. The company representatives claim that it “fully cooperates with regulators” but they were “unaware of a formal investigation” into the event.

As detailed by cryptocoinsnews.com details referring to bloomberg.com, CFTC requests the information on the role that marginal trading, introduced at GDAX in March to attract institutional investors, could play in the event. Through margin trading, large-scale traders can use borrowed funds to place high-risk bets on the future value of the asset, in this case, Ethereum.

It is noteworthy, that the CFTC investigation into the Ethereum price crash on GDAX is yet another sign of the increased focus U.S. regulators are placing on the cryptocurrency markets.

Ethereum price chart on coinmarketcap.com
Ethereum price chart on coinmarketcap.com

Meanwhile, at the time of writing, Ethereum price is about $296.79, its market capitalization is $28,172,251,304.

Vinnik Extradtion to France to be Supported by SCoG

Alexander is holding the hunger strike for 24 days and lost around 9 kilos
19 December 2018   20

Following the trial court of the city of Thessaloniki, the Greek Areopagus decided to extradite Alexander Vinnik, suspected of laundering $ 4 billion through the BTC-e cryptocurrency exchange, to France. Thus, the appeal of Russian lawyers was rejected, reports TASS referring to the chairman of the court Angelique Aliferopoul.

After the announcement of the verdict, Alexander Vinnik declared that he would continue the hunger strike against the arbitrary rule of the Greek authorities, which began in mid-November.

I have been starving for 24 days. Yesterday I was weighed; according to the documents, I lost 8 kg. But they did not immediately begin to weigh me, only on the third day. So I lost 9 kg. If I'll be extradited to Moscow, I will stop starving.
 

Alexander Vinnik

Suspected

Alexander Vinnik was detained in Greece at the request of the American authorities on July 25, 2017. In June 2018, Vinnik was arrested in absentia in Russia on charges of cyber fraud on a large scale.

At the moment, there have been several court decisions on the extradition of Vinnik - at the request of the United States, at the request of France and two decisions at the request of Russia. The final decision on the case will take the Minister of Justice of Greece.