30 Sep Members FA Digest
Important: the SEC, CFTC, and FBI have taken actions against international Bitcoin-funded securities dealer 1pool Ltd., also known as 1Broker. The charges have been filed against Marshall Islands-registered 1pool Ltd., and its Austria-based CEO, Patrick Brunner, “for allegedly violating the federal securities laws in connection with security-based swaps funded with bitcoins.” The 1Broker.com domain has been seized by the FBI. 1Broker announced via Twitter handle that all open positions were closed at the current market prices, and all funds are currently secure, but the withdrawals are paused, until the company will get the permission from the SEC to process customer withdrawal requests on an alternative domain.
Bearish: one of the biggest Indian cryptocurrency exchanges, Zebpay, has closed all exchange services, following the central bank’s banking ban on the local crypto industry. All unexecuted orders have been canceled, and INR withdrawals have been paused, until banks allow them again. Reminder: earlier in April, the Reserve Bank of India (RBI) directed all financial institutions to stop providing services to businesses associated with cryptos, so most Indian cryptocurrency exchanges shifted from fiat-to-crypto trading to crypto-to-crypto trading.
Bullish: Thomas Lee, an accomplished Wall Street strategist and the Head of Research at Fundstrat Global Advisors, continued spreading his strong bullish sentiment about the whole crypto market, saying to his clients that “Ethereum is about to stage a trend reversal and rally strongly”, according to Bloomberg. Lee noted that previously, when “Ethereum has underperformed peers by two standard deviations”, the price trend saw a major reverse, so he expects Ether to reach $1,900 by the end of the year.
Adoption: the Austrian government will issue €1.15 billion of government bonds on the Ethereum blockchain in an auction on October 2. During the auction, one of Austria’s biggest banks, Oesterreichische Kontrollbank (OeKB), will issue the bonds on behalf of the Austrian Treasury (OeBFA).