The world cannot ignore bitcoin geopolitically, says a former Deutsche Bank executive



Bitcoin (BTC) is a leading indicator of hidden geopolitical tensions, according to a former executive of the German multinational investment bank Deutsche Bank.

Is Bitcoin a sign of what happens behind the scenes in Chinese business talks?
Peter Tchir, a contributor to Forbes and former Executive Director of Deutsche Bank, said Bitcoin price movements could be a potential signal of what is happening behind the scenes in Chinese business talks in a Forbes article, published on 30 July.

In the article, Tchir provided his observations on the correlation between the price of Bitcoin and the main industry news. He cites his previous investigation alleging that BTC grew up in May when US President Donald Trump revealed that the trade agreement with China seemed fragile.

"Bitcoin hints that there is no alarm in China"
Tchir says that the price of Bitcoin has been significantly correlated with the holders of recent days. The analyst added that BTC / USD has been falling amid the ongoing and increasing conversations in negative headlines. He refers to a recent Trump tweet that said China lost five million jobs and two million manufacturing jobs due to the new tariffs.

However, Tchir noted that the price of Bitcoin now seems not to be rising more slowly in today's headlines and does not react as much as the shares. He wrote:

“Is it a sign that the Chinese elite know that the headlines are more negative than the reality of the situation? It is not a clear enough signal, but for now, I think Bitcoin is hinting that there is no alarm in China, which is positive. "

But although he admits that there are many factors that affect the price of Bitcoin, Tchir concluded that the value of Bitcoin as "the main indicator of geopolitical tensions behind the scenes" should not be ignored.

Earlier today, Morgan Creek Digital Assets co-founder Anthony Pompliano argued in CNBC's Squawk Box that the first country, which would adopt Bitcoin in a "very serious way," will force others to catch up according to game theory.

Crypto massive whales moved 318,649 BTC worth USD $ 3 billion in just six hours



Transfers occurred between wallets of unknown origin. The money may have moved in OTC or users changed to new wallets.
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Cryptocurrency traders are tracking a series of massive Bitcoin transfers made by so-called crypto whales. In just six hours, DailyHodl reports, they have moved 318,649 BTC worth more than USD $ 3 billion.

It also indicates the source that all transfers occurred between wallets of unknown origin. Also, adds DailyHodl, which indicates that "crypto money may have changed hands in over-the-counter (over-the-counter - over-the-counter) operations, or users decided to change funds to new wallets for security."

Which detectives
Next, the tracks left by the whales:

47,454 BTC worth USD $ 451 million transferred from an unknown wallet to another unknown wallet.
47,404 BTC worth USD $ 450.5 million transferred from an unknown wallet to another unknown wallet.
47,465 BTC worth USD $ 451.1 million transferred from an unknown wallet to another unknown wallet.
5,400 BTC worth USD $ 51.5 million transferred from an unknown wallet to another unknown wallet.
5,357 BTC worth USD $ 51.2 million transferred from an unknown wallet to another unknown wallet.
5,700 BTC worth USD $ 54.5 million transferred from an unknown wallet to another unknown wallet.
6,400 BTC worth USD $ 61.1 million transferred from an unknown wallet to another unknown wallet.
6,600 BTC worth USD $ 63.1 million transferred from an unknown wallet to another unknown wallet.
6,000 BTC worth USD $ 56.8 million transferred from an unknown wallet to another unknown wallet.
6,000 BTC worth USD $ 56.8 million transferred from an unknown wallet to another unknown wallet.
6,000 BTC worth USD $ 56.8 million transferred from an unknown wallet to another unknown wallet.
6,000 BTC worth USD $ 56.8 million transferred from an unknown wallet to another unknown wallet.
6,200 BTC worth USD $ 58.7 million transferred from an unknown wallet to another unknown wallet.
47,357 BTC worth USD $ 448.5 million transferred from an unknown wallet to another unknown wallet.
6,756 BTC worth USD $ 63.8 million transferred from an unknown wallet to another unknown wallet.
7,000 BTC worth USD $ 66.1 million transferred from an unknown wallet to another unknown wallet.
5,800 BTC worth USD $ 54.8 million transferred from an unknown wallet to another unknown wallet.
49,756 BTC worth USD $ 468.4 million transferred from an unknown wallet to another unknown wallet.

In expectation
So far, none of the BTC seems to be aimed at crypto exchanges, where it could be traded in the open market and have an impact on the price of Bitcoin.

Before this outbreak of activity, the whales had remained relatively calm in recent days with the price of Bitcoin ranging between USD $ 9,400 and USD $ 10,200.

At the time of publication, Bitcoin fell 0.54% to USD $ 9,498 according to CoinMarketCap.

Buterin supports BTC-ETH integration, as the future of cryptocurrencies is ‘pluralistic’



The co-founder of Ethereum said that the future of cryptocurrencies is pluralistic in response to a recent proposal for the integration of Bitcoin Lightning Network (LN) with Ethereum.

Blockade Games uses Bitcoin LN as an interface for Ethereum contracts
On July 31, the blockchain-centric game developer Blockade Games published an article on the implementation of Bitcoin LN as an interface to Ethereum contracts in order to allow instant payments in Bitcoin, while triggering a series of events in Ethereum, or any other chain.

Ethereum co-founder Vitalik Buterin tweeted the news on August 2, warning about the fact that a blockchain developer used Ethereum and Bitcoin. When asked what he thought about the initiative, Buterin seemed to encourage the movement, claiming then that the future of cryptocurrencies is "diverse and pluralistic."

In early July, Buterin proposed the implementation of the Bitcoin Cash blockchain as a temporary scalability solution for the Ethereum network.

On July 31, blockchain-focused game developer Blockade Games posted an article on implementation of Bitcoin LN as an interface for Ethereum contracts in order to enable instant payments in Bitcoin, while simultaneously triggering a series of events on Ethereum, or any other chain.

The firm expects to release the code in the main network using real Ether in the coming weeks
While Blockade Games believes that Ethereum will be crucial for the future of non-expendable assets and blockchain games, the company also believes that Bitcoin will be the future of money, the company said in the blog post. Blockade explained that a significant number of its players prefer to have most or even all of their funds in Bitcoin.

As noted in the publication, the integration mechanism of the Bitcoin and Ethereum LN smart contracts could be part of the upcoming role-playing game based on Blockade's Ethereum, Neon District.

Blockade Games has implemented the project using its code on the Rinkeby test network, and plans to launch it on the main network using real Ether (ETH) in the next two weeks, said Blockade Games chief technology officer Ben Heidorn, according to a report from CoinDesk.

As previously reported, LN is a second layer on the Bitcoin blockchain and is intended to allow fast and commission-free transactions by creating payment channels between users. Recently, Cointelegraph reported that LN transactions were available in the Blockstream liquid side chain.

U.S. prosecutors accuse the exchange of cryptocurrencies BTC-e and ask millions in fines



U.S. prosecutors have filed a complaint against the now disappeared cryptocurrency exchange, BTC-e, and its alleged operator, Alexander Vinnik, according to a document filed in the Northern District of California on July 25.

According to the presentation, the Financial Crimes Enforcement Network (FinCEN) determined civil penalties for BTC-e and Vinnik last year, which face fines of more than USD 88 million and USD 12 million, respectively.

The presentation openly states that BTC-e and Vinnik did not attempt to register with FinCEN, implement anti-money laundering practices, or report suspicious activities in general.

Alleged money laundering and lack of regulation
The presentation also notes that BTC-e and Vinnik were indicted in 2016 on charges of running an unlicensed money services business and conspiracy to commit money laundering. In 2017, a grand jury issued an accusation that replaced the accusation with additional money laundering charges and participation in illegal monetary transactions.

According to the recent accusation, this exchange did not require an identity verification by any means to register and use the service, although sometimes it required identity validation for certain electronic transfers.

And more importantly, criminals used BTC-e for money laundering and liquidation by anonymously converting their crypto earnings to fiat money. According to the report, BTC-e facilitated hacking, ransom payments, identity theft, embezzlement and narcotics distribution.

Vinnik is a Russian citizen who is currently imprisoned in Greece. Vinnik reportedly held a senior leadership position at BTC-e, and he and the exchange are being charged again in 2019 on behalf of the United States Department of the Treasury.

Vinnik was aware of BTC-e's money laundering facilitation, and even sent emails saying he was the owner of BTC-e and that he himself was using the exchange for illegally backed transactions. Vinnik also allegedly has accounts associated with other criminal activities, including those linked to the theft of the also missing exchange, Mt. Gox.

Extradition Resource
As Cointelegraph previously reported, Vinnik requested extradition to Russia since his imprisonment in Greece in March this year. The Commissioner for Human Rights of Russia, Tatyana Moskalkova, had previously supported the request, asking the United Nations High Commissioner for Human Rights, Michelle Bachelet, and the Minister of Justice of Greece, Michalis Kalogirou, to support the extradition .

At that time, Commissioner Moskalkova argued that Vinnik should be extradited to be with his family, since his wife was seriously ill. Moskalkova said:

"Given the extraordinary humanitarian situation, I would ask for help to extradite him to Russia so he can be closer to his family."

Waves executive director sells his stake in blockchain subsidiary Vostok



The founder of the Waves token issuance platform has completely sold its stake in Vostok, the firm's blockchain subsidiary, to focus on the Waves platform.

Alexander Ivanov, CEO and founder of Waves, sold his stake in Vostok, and the global financial group GHP Group became the sole owner of the project, according to a press release dated July 16.

Ivanov said he had decided to sell the Vostok project to focus resources on the development of the Web3 ecosystem within the Waves Platform.

Mark Garber, Chairman of the Board of Directors of GHP Group and one of Vostok's first investors, said that the progress in the project would help GHP Group increase its level of technological expertise.

The well-known businessman of the Russian investment community said that the GHP Group would continue to build the project, while the firm also plans to integrate Vostok technology into its resources, production and logistics assets, as well as in the associated projects.

As an important blockchain project in Russia, the Vostok project has entered into a series of partnerships with Russian corporate and government clients, such as the country's largest bank, Sberbank, and the state-owned Vnesheconombank.

Developed by Waves, the Vostok project was launched in April 2018 as an initiative to promote digital technologies among large government and industrial infrastructures. At the end of 2018, Waves raised USD 120 million for the Vostok project in order to develop new technologies such as artificial intelligence and blockchain to "support a truly open and decentralized website."

In the new press release, Ivanov said that the development paths of Vostok and Waves "are becoming increasingly divergent," noting that Waves Platform focuses on the development of intelligent and decentralized blockchain services.

Recently, Waves launched an update to its blockchain that allows decentralized applications on the platform.

The largest bank in Russia stops plans with crypts due to the negative position of the Central Bank



Russia's largest bank, state-owned Sberbank, has suspended its crypto-related plans due to the central bank's negative stance on the industry, local news agency TASS reports May 30.

The vice president of Sberbank, Andrey Shemetov, has revealed the news at a recent press conference, stating that Sberbank had been waiting for a crypto-legislation that would allow him to trade with cryptocurrencies.

However, Shemetov stressed that the local financial regulator and the central bank, the Bank of Russia, are against the adoption of crypto space at this time. As such, the bank had to stop its plans related to cryptocurrencies.

In the report, the official did not specify which particular project the bank had to suspend.

In January 2018, the subsidiary of Sberbank in Switzerland, Sberbank Switzerland AG, announced that it planned to launch a cryptoexchange. At that time, Shemetov claimed that the bank had chosen Switzerland to establish the exchange because the Russian authorities did not allow crypto operations.

Recently, Sberbank has asked a client to provide data on their income in cryptocurrencies.

Until now, Russian authorities have not been able to pass crypto legislation for various reasons.

More recently, TASS reported that Russia had to postpone the adoption of a crypto law due to a requirement of the International Financial Action Task Force on Money Laundering to legislate the most important terms of the cryptocurrency and bitcoin (BTC) industries, instead of using the only term "digital assets". In particular, it is said that Russian lawmakers were avoiding certain terminology in the bill according to a "certain position" of the Russian central bank.

However, the central bank has subsequently reacted to the report, stating that the crypto bill is sufficiently prepared to be adopted in spring 2019, in accordance with the order of the country's president, Vladimir Putin.

Keep reading:

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