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Bitcoin’s price rose above $7,500 Sunday for the first time since August 2018, but it has since cooled off since, and was trading just a around $7,100 by late afternoon EDT.
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The Bitfinex probe has laid bare two fundamental weaknesses in crypto infrastructure as a whole: 1) the lack of high-level banking services; and, 2) the lack of auditing standards.
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The median crypto hedge fund delivered a 46% loss in 2018. Quantitative crypto funds, which can take short positions, fared better with a median return of 8%.
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The Boston Fed is looking at setting up a “supervisory node,” a regulatory surveillance tool that should be able to connect to various banking blockchains. This node will watch the money flows and settlements between different banks.
Kiffmeister’s Fintech Digest 05/12/2019: Bitcoin Briefly Spiked Above $7,500
