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   766

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.

UCLA Blockchain Crypto Conference to be Held in LA

The UCLA Conference will be held on February 17-18 of 2018, gathering together the most experienced and exciting thinkers
17 February 2018   232

UCLA's Blockchain Lab and Far from LA are holding the Blockchain Cryptocurrency Conference, gathering together the most experienced and exciting thinkers across SoCal, in order to foster both economic and educational progress. The conference will concern cybersecurity, cryptocurrencies, and blockchain.

The UCLA Conference will be held on February 17-18 of 2018.

Location: The University of California, Humanities Building, 415 Portola Plaza, UCLA 90095, Los Angeles

The headline speakers will include Kathleen Breitman, the co-founder of Tezos; Sandra Ro from UWIN Lab; David Moss from EOS; Jeremy Rubin, the Bitcoin core developer, and many more.

The agenda of the conference is as follows: the future of blockchain keynote, bringing humanity to the blockchain, cybersecurity, autonomous vehicles, blockchain's influence on the development of art and culture, blockchain in the music industry, government adoption of blockchain around the world, and more.