#Crypto Corner: US DOJ Probes #Crypto Market, German Stock Exchange Operator Working on #Bitcoin and #Coinbase Acquires Paradex and Announces Coinbase Pro
Point Roberts, WA and Delta, BC - May 24, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner.
Crypto Corner - May 24, 2018
US DOJ Probes Crypto Market, German Stock Exchange Operator Working on Bitcoin and Coinbase Acquires Paradex and Announces Coinbase Pro
Bloomberg reports today that the U.S. Department of Justice (DOJ) has opened a criminal investigation of price manipulation in the crypto space. In cooperation with the Commodity Futures Trading Commission (CFTC), the probe is concentrated on practices like spoofing and "flooding the market with fake orders"
"The illicit tactics that the Justice Department is looking into include spoofing and wash trading -- forms of cheating that regulators have spent years trying to root out of futures and equities markets, the people said. In spoofing, a trader submits a spate of orders and then cancels them once prices move in a desired direction. Wash trades involve a cheater trading with herself to give a false impression of market demand that lures other to dive in too."
Frankfurt-based German stock exchange operator Deutsche Boerse is reportedly "deep at work" in consideration of offering cryptocurrency services such as futures. Bloomberg quotes Deutsche Boerse head of clients Jeffrey Tessler at an industry event in London recently:
""Before we move forward with anything like Bitcoin we want to make sure we understand the underlying transaction which isn't the easiest thing to do," Tessler said at an event in London organized by the Association for Financial Markets in Europe. "We are deep at work with it," Tessler said, acknowledging that the group is "not at the same stage" as CME."
Coinbase announced the launch of Coinbase Pro, and the acquisition of Paradex, a trade relay platform in blog posts yesterday.
Coinbase Pro is an improvement on GDAX, which was launched three years ago as a "product that would help institutions enter the crypto space". The new service boast the following features:
- All transactions and balances from GDAX will automatically appear in Coinbase Pro
- A completely redesigned platform that will make the trading experience easier and more intuitive
- Simplified deposit and withdrawal processes
- Improved charts that will allow customers to easily scroll and access historical data
- A new consolidated portfolio view called "My Wallets" that lets customers easily see an overview of their account orders and balances
Sam Mowers Investorideas.com
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