US to Launch BTC Price Manipulation Investigation

US Department of Justice together with CFTC will try to determine whether traders are manipulating the rate of bitcoin and other digital currencies
24 May 2018   1747

The US Department of Justice initiated a criminal investigation to determine whether traders are manipulating the rate of bitcoin and other digital currencies. This is reported by Bloomberg.

The investigation is aimed at identifying illegal practices that can be used to manipulate courses, including spoofing or filling the market with fake orders to mislead other traders and induce them to buy or sell crypto currency, an anonymous source said. They are also interested in fictitious transactions aimed at creating a false impression of active trade. Representatives of the Ministry of Justice work together with the Commodity Futures Trading Commission.

There’s very little monitoring of manipulative trading, spoofing and wash trading. It would be easy to spoof this market.
 

John Griffin

Finance professor, University of Texas

Authorities are concerned about the possibility of fraud in the cryptocurrency market for several reasons: they are not sure that exchanges are actively fighting those who can use dishonest practices, while opportunities for their application are present, and proper regulation is not.

The investigation is at an early stage, the source said. Representatives of the Ministry of Justice and the CFTC declined to comment on the situation.

Lightning Labs to Raise $10M

As reported, the raised funds will be allocated to enforce the team with developers and commercial speciaslists
06 February 2020   254

Lightning Labs attracted $ 10 million investment during the A-series financing round, and also introduced a beta version of its payment service for outlets that work with bitcoin.

If bitcoin is going to reach its potential as a viable global currency, it’s going to need to scale beyond the base layer. Similar to how Visa relieves banks from handling all fiat currency traffic, Lightning relieves the base bitcoin chain from handing all transactions, thus bring more speed and fee efficiency to the network.

 

Brian Murray

Managing Director at Craft Ventures

With the help of the raised funds, the company intends to hire more developers and commercial specialists, so that it will be able to convey the applied solutions to users. In 2018, Lightning Labs unveiled a beta version of its LND scaling solution and received $ 2.5 million investment from several investors, including Twitter CEO Jack Dorsey and Litecoin creator Charlie Lee.

Now a beta version of the new Lightning Loop service has been launched, with the help of which outlets can more effectively manage payment channels and maintain liquidity in them. Several customers have already become interested in this tool, including the developer of the Fold shopping application, which processed approximately 1,600 transactions through the Lightning Network during the holidays in 2019.

We’re growing fast and Lightning Labs’ loop service makes it simple to manage our lightning node’s liquidity, letting our team focus on building out great user experiences that bring lightning to the world.

 

Will Reeves

Fold

According to Lightning Labs, this year the company will be developing tools for working with larger payment channels. We are talking about both individual channels, which individually can hold more than $ 1,500, and multidirectional ones, which break down payments into smaller parts.