Arthur Hayes, CEO of Seychelles-based bitcoin futures exchange BitMEX, has come out with an explosive speculation about Chinese spot exchanges 0% fee model. Many people have wondered how they make money with this business model, and Arthur makes a strong case for how they logically must be investing customer deposits into speculative Chinese debt instruments. Read the latest BitMEX newsletter here.
Since the market calmed down from the bull run and pullback, the CNY premium to USD exchanges has been basically flat. Over the weekend we saw signs of the premium picking up again, where it reached almost 1.5%. As the weekend came to an end we had a nice move upward:
This is semi bullish news for bitcoin depending on how you read. Earlier this month a report was written by a pair of economists entitled Should Cryptocurrencies Be Included In The Portfolio Of International Reserves Held By The Central Bank Of Barbados (pdf).
An interesting story has recently gotten popular in the media: a few days ago hackers took down an ISIS site set up on Tor with an .onion address. What did they replace it with? A funny little message: