The crypto industry continues to develop and grow at an exponential rate, and with this rapid growth also comes growing pains and promising opportunities.
Just recently, the crypto derivatives market Bitmex was busted, as criminal charges were brought against the owners (NY Times), and the indictment took the crypto world by storm. Bitmex was charged with failing to prevent money laundering and offering U.S. customers crypto illicit derivative trading services (Forbes).
Bitmex gave customers around the world the ability to trade a variety of crypto assets up to 100x leverage, which later closed its doors to customers of the United States in an effort to evade penalties.
Being one of the latest developments broadcasted to the crypto industry, the Bitmex Bust sends the message that you must play by the rules in order to stay.
Also, it was recently reported that John McAfee (CoinDesk), the notorious and eccentric software magnate behind McAfee anti-virus, was arrested in Spain and is facing extradition on charges of tax-evasion and pumping initial coin offerings without proper disclosures.
While this news may sound concerning, it’s actually critical for the future of crypto. In tandem, we’re seeing enhanced regulation and government support of crypto and blockchain as noted in last week’s market round-up (The Crypto Bill).
In order for crypto to attain its self-fulfilling prophecy of mass adoption and usher in a true financial revolution, it has to work within the confines of evolving regulations, laws, and compliance. This is extremely positive for the long-term future of digital assets, all of which Bitcoin has handled surprisingly well, and broke out on Thursday, reaching nearly $11,000 after Square announced the adding of $50 Million BTC to its balance sheet.
Voyager is a publicly-traded company, we are licensed and regulated. By adhering to these rules and regulations, and doing things the right way, we can play a pivotal role in giving customers around the world legitimate access to digital assets. As we continue to grow to be the largest crypto asset agency broker, the future is bright for Voyager & crypto.
Top Market Movers
- StormX (STMX) +16%
- Monero (XMR) +16%
- Hedera Hashgraph (HBAR) +15%
- Chainlink (LINK) +11%
Voyager's Crypto OG Weekend Promo
Starting tomorrow, Saturday 10/10, our first-ever Crypto OG Weekend Promotion begins.
Receive 100 VGX FREE for every $1k you buy of Bitcoin, Ethereum, Litecoin, or Ripple! This promotion ends Monday, 10/12, at 11:59 PM EST.
Get ready to open the Voyager app to start stacking OG cryptos & VGX.
The Golden Record Broadcast Launch
We are excited to share that our new broadcast series, The Golden Record, is launching on Tuesday, 10/13 at 12 pm EST!
Hosted by Charlie Shrem and Voyager CEO Steve Ehrlich, get a deep dive into the current economy, crypto market, and hear about new updates coming to the Voyager app.
Make sure to tune in LIVE on our Twitter.
Coindesk > "Ripple Chairman Says Firm Could Leave US if Regulatory Environment Doesn't Change"
Cointelegraph > "US Printed More Money in One Month Than in Two Centuries"
Cointelegraph > "Crypto Art Piece Sells for $130K at Christie's Auction House"
Squareup > "Square, Inc. Invests $50 Million in Bitcoin"