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US Cracks Down on Bitcoin Exchange | This Week in Crypto – Oct 5, 2020

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U.S. regulatory authorities brought a series of civil and criminal charges against BitMEX. The CEO and company owners are charged with allegedly offering U.S. customers illicit crypto derivative trading services and violating the Bank Secrecy Act. One of the founders, Samuel Reed has already been arrested; the others remain at large. Since the news came out, more than 45,000 bitcoin were withdrawn from the Seychelles-based crypto exchange.

Diginex has become the first-ever company with a cryptocurrency exchange to have its stock listed for trading on the Nasdaq. The ticker symbol for the stock is EQOS, all this taking place after the company managed to raise $50 million in capital.

Cryptocurrency exchange Coinbase is adding a new way to withdraw funds from your Coinbase account. If you’ve added a compatible debit card to your account, you can transfer US dollars, euros or British pounds to your bank account nearly instantly. The new feature is available in nearly 40 countries including the US, UK, and many across Europe.

The Bitcoin network has already passed the 18.5 million BTC mark in circulation. With only 21 million Bitcoin to be issued, this means there are fewer than 2.5 million BTC left, or about 11.9% of the total Bitcoin to be generated. Half of the  remaining Bitcoin will be mined within the next four years, but the last Bitcoin is not expected to be mined until 2140.

And now, today’s Bitcoin Quick Question is: What is a block explorer? A block explorer is an online platform that allows you to search and analyze the blockchain’s immutable history. As you may recall, the blockchain is an open, transparent ledger – and a block explorer is the tool to access all of its data.

You might think of it as the Google of the blockchain.

Using a block explorer, you can obtain information on transactions, whether yours or others, such as specific wallet addresses, amounts or transaction status.

You are also able to explore additional data such as top coin holders or network fees, and you can  conduct even deeper analysis.

Lastly, it’s important to remind you that each blockchain has its own block explorer.

If you’d like to know more about block explorers, visit the link in the description below.

Have a question you want us to answer? Just leave it in the comment section below.

And a huge thanks to eToro for supporting us in putting this video together. 

That’s what’s happened this week in crypto. See you next week.

Having delved into futures trading in the past, my intrigue in financial, economic, and political affairs eventually led me to a striking realization: the current debt-based fiat system is fundamentally flawed. This revelation prompted me to explore alternative avenues, including investments in gold and, since early 2013, Bitcoin. While not extensively tech-savvy, I've immersed myself in Bitcoin through dedicated study, persistent questioning, hands-on experience with ecommerce and marketing ventures, and my stint as a journalist. Writing has always been a passion of mine, and presently, I'm focused on crafting informative guides to shed light on the myriad advantages of Bitcoin, aiming to empower others to navigate the dynamic realm of digital currencies.

View all Posts by Alexander Reed

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