BitMEX vs Binance – Hayes and Zhao Locked in a Twitter War Over Claims of Innovation

Earlier today, Binance CEO, Changpeng Zhao, also known as CZ, announced on Twitter that someone had tried to attack the Binance futures platform. CZ declared the attempt unsuccessful because Binance futures’ liquidation was tied to index price and not futures price. He also claimed that tying liquidation to index price and not futures price was Binance’s innovation. However, the false claim did not go unnoticed and BitMEX CEO, Arthur Hayes trolled CZ in a rather sarcastic tweet. 
Arthur Is Teaching “Copy-Pasting” In Singapore And Wants To Enrol CZ
In what could be described as the most savage retort of the day in the crypto community, BitMEX CEO, Arthur Hayes has sarcastically extended a hand of tutelage to Binance boss, Changpeng Zhao in order to teach him how to really “copy-paste” innovations. This news comes following a controversy that erupted after CZ laid claims on an innovation that happens to have been implemented by BitMEX first.
A Twitter user, @lowstrife replied to CZ’s claim by pointing out that liquidation tied to index prices was an exchange feature that had existed on BitMEX for a long time, thus, rebutting CZ claims of the innovation. No response on the tweet was received from CZ himself but Arthur Hayes had something to say. He sarcastically offered CZ classes in advanced copy-pasting for running a crypto derivatives platform in exchange for 51% of CZ’s equity. Retweeting the post by @lowstrife, Hayes said –

Next time I’m down in Singapore @cz_binance please attend my running a crypto derivatives platform 101. I teach advanced cntl+C cntl+V methods. Price of entry … 51% of your equity. https://t.co/RYGkf4aJih
— Arthur Hayes (@CryptoHayes) September 16, 2019

CZ Responds!
As expected, CZ responded by making fun of the whole affair while and trying to explain that the tweet was “misleading in the way it was written”. In the same vein, CZ offered to take attend any of Arthur Hayes’ classes in exchange for 49% of any venture that Hayes ran. According to CZ,

lol, let me book that flight for ya. Happy to attend any class to own 49% of any venture you run.
(I read the tweet again, it was misleading in the way it was written. I didn't mean the index price liquidation is our invention. but anyway… no edit button)
— CZ Binance (@cz_binance) September 16, 2019

Earlier Hayes Alleged Binance Plagiarizing Features From BitMEX
Coingape recently reported that BitMEX, in a sarcastic tweet, had claimed that Binance had copy-pasted the documentation for their futures platform. Arthur Hayes, at that time, had retweeted the same with a meme and a remark directed at CZ.

@cz_binance y'all can do better than that 🤡 https://t.co/fwZencbJ4w pic.twitter.com/XW5atKqAg6
— Arthur Hayes (@CryptoHayes) September 4, 2019

CZ had responded to this by simply apologizing and maintaining that they didn’t read the documents, and promising to remove the plagiarized documents. He also uploaded the links for official documents of futures to be reviewed by BitMEX.
The post BitMEX vs Binance – Hayes and Zhao Locked in a Twitter War Over Claims of Innovation appeared first on Coingape.
Source: CoinGape

Bitmex restricts service in Seychelles, Hong Kong and Bermuda – Here’s Why!

Popular Seychelles-based crypto derivatives trading platform, BitMEX has announced that it is closing its platform to three jurisdictions. The announcement was made in other to ensure the safety of its customers’ funds as well as the stability of the platform.
According to the official announcement, the regions affected by the restriction include Seychelles, Hong Kong, and Bermuda. Customers of the derivative trading platform based in these three listed regions will not be able to continue accessing the platform’s services. These three jurisdictions are where BitMEX parent HDR Global Trading Limited’s users and offices are located.
According to the official announcement,
“This change will have no financial impact on the business and will affect very few people. The BitMEX team will be reaching out to those who are affected,” the firm said in a statement. BitMEX also added that the firm welcomes the involvement of regulators in the cryptocurrency industry and that regulators will provide “a new era of legitimacy for cryptocurrency exchanges: a future where market operation standards are clearly stated and maintained, where security is paramount, and where financial reserves are independently and frequently audited.”
This comes after reports that the U.S. Commodity Futures Trading Commission (CFTC) is probing the firm to determine whether it went against regulations in the form of servicing US traders. BitMEX is not registered with the CFTC and counts the U.S. as one of the jurisdictions in its restricted access list.
The Genesis Of The Situation
This news is rather expected than a surprise to anyone who followed the derivative exchange’s tangle with popular economist and crypto antagonist, Nouriel Roubini about a month ago. BitMEX’s CEO, Arthur Hayes was engaged in a debate with Roubini in Taipei along with discussions focussing on cryptocurrencies.
Thereafter, Roubini ramped up a campaign against BitMEX which then led to CFTC investigating the trading platform. In the days following the events, BitMEX had experienced a huge outwards funds flow and the daily trading volume had dropped drastically. The platform’s social media also stopped updating.
The post Bitmex restricts service in Seychelles, Hong Kong and Bermuda – Here’s Why! appeared first on Coingape.
Source: CoinGape

Roubini’s “The Great Crypto Heist”, Amid CFTC Probe BitMex Bleeds $524M in Outflows

Nouriel Roubini’s aka Dr. Doom’s severe censure of the crypto derivatives platform, BitMEX, has reportedly landed the company in serious trouble. BitMEX, amid rumors of a full-fledged CFTC probe, experienced $524M in outflows in July while the rest of crypto community enjoyed a bull-market. 
Did Arthur make a mistake by meddling with Permabear Roubini?
The chain of events leading to BitMEX losing over half a billion dollars started with a debate between Nouriel Roubini, economist and crypto skeptic and Arthur Hayes, CEO of BitMEX. 
At the 2019 Asia Blockchain Summit at Taipei, Roubini was invited to debate with Hayes on the subject of cryptocurrencies – whether they are a scam or the future. Just a few days before the debate, Roubini had tweeted on an update by BitMEXResearch about BitMEX achieving over $9 billion in trading volume and $1 billion in open interest on the Bitcoin perpetual swap contract. Roubini’s comment implied that these figures were not reliable as 95% of all bitcoin transactions on a typical exchange were fake.
Source: Twitter
In the debate, Roubini maintained his typical hostile attitude towards cryptocurrencies.
He claimed that the cryptocurrency industry was characterized by “shitty behavior” with scammers and criminals and that Bitcoin was not “not secure, not decentralized and is not even scalable”. 
He also shared his view on other emerging technologies including artificial intelligence (AI), Big Data, the Internet of Things (IOT) saying that the revolution in the fintech space was already happening with these technologies and it did not need cryptocurrencies. “We don’t need that cesspool of stinking shi*coins,” stated Roubini. 
Hayes argued for the value propositions offered by cryptocurrencies, especially digitization of money and decentralization. “In 50 years, if Alibaba, Facebook, and Google control everything, people will like that thing that isn’t controlled by the large companies. Bitcoin won’t be a niche market,” Hayes emphasized.
The debate also saw discussion around fake volumes on crypto exchanges, regulatory uncertainty and Facebook’s upcoming Libra cryptocurrency.
Roubini’s “The Great Crypto Heist”
Nearly two weeks after the debate, Roubini attacked cryptocurrencies again with his article “The Great Crypto Heist”. The article began with inflammatory remarks on cryptocurrencies and regulators’ attitude towards them –
“Cryptocurrencies have given rise to an entire new criminal industry, comprising unregulated offshore exchanges, paid propagandists, and an army of scammers looking to fleece retail investors. Yet, despite the overwhelming evidence of rampant fraud and abuse, financial regulators and law-enforcement agencies remain asleep at the wheel.”
The article went on to describe the problems with BitMEX, namely, its unregulated nature and that it’s business model that involved “ peddling to “degenerate gamblers” (meaning clueless retail investors) crypto derivatives with 100-to-one leverage”. Roubini further explained that “with 100-to-one leverage, even a 1% change in the price of the underlying assets could trigger a margin call and wipe out all of one’s investment”.
Further, Roubini accused the platform of charging high fees and drawing the investors’ savings into a “liquidation fund” that was disproportionately large for avoiding counter-party risk. The crypto skeptic also shared that BitMEX insiders had revealed to him that the exchange was not doing anything to stop terrorists and other criminals from Russia and Iran who were using the exchange for money-laundering at a massive scale. 
The platform’s condemnation continued with Dr. Doom saying that it was not following adequate AML/KYC regulations and that US and UK investors, who were not allowed to use the platform due to regulations, were using it anyway by masking their IP addresses with standard VPN applications.
The severe consequences for BitMEX
Rumors suggest that the article and the Taipei tangle triggered CFTC’s probe into BitMEX’s operations. The probe, reportedly aimed at investing US investors’ accounts on BitMEX was announced on July 19, and by the end of July, the platform had experienced over half a billion dollars in outflows. 
BitMEX’s website has also dropped in popularity. From its #11,851 rank on July 19, it has dropped to #12,763 on Alexa.com. BitMEX’s Twitter account was last updated on July 15, while Arthur Hayes also went silent on Twitter on July 12 and updated his account with a cryptic tweet on July 31. 
Hayes’ tweet has been trolled by Twitter users and they have accused him of being a coward and going undergoing when his company is going through a probe. 
The post Roubini’s “The Great Crypto Heist”, Amid CFTC Probe BitMex Bleeds $524M in Outflows appeared first on Coingape.
Source: CoinGape

“Dr. Doom” Attacks Cryptocurrencies Again, Proposes Jail Term for Crypto Hodlers

Renowned Bitcoin skeptic and economist, Nouriel Roubini who is famously known as Dr. Doom, has attacked cryptocurrencies again, this time, insinuating that cryptocurrency holders have been “arrogantly flouting all criminal laws/regulations as if they are above the law.
Now, Roubini has decided to attack the cryptocurrency users again and this time, not just Arthur or BitMEX, but coming against a whole larger population of cryptocurrency enthusiasts. According to Roubini,
“Criminality is standard in crypto land. 1000s of folks in crypto belong to jail n will end up there soon. They have been arrogantly flouting all criminal laws/regulations as if they are above the law under the b/s fig leaf of “censorship resistance”: an excuse for sheer sick greed!”
Roubini: “Cryptocurrencies Are A Tool For Money Laundering”
Roubini’s tweet comes as a comment on Modern Consensus’s tweet from November 2018 about Tether hiring Leonardo Real, ex quality control manager at Bank of Montreal’s anti-money laundering office, as its Chief Compliance Officer. Modern Consensus’ tweet is linked to its article on why Real makes for an interesting choice as Tether’s CCO as he previously had written articles on how cryptocurrencies were being used for money laundering by drug and arms dealers.
Source: Twitter
Crypto Enthusiasts Respond To Roubini’s Tweet
Roubini’s tweet has generated both support and backlash from Twitter users. While some have supported Roubini’s stance, others have made counter tweets implying that traditional financial institutions like banks are much more involved in criminal activities than crypto.
Source: Twitter
Roubini regularly lambastes cryptocurrencies on his Twitter account and while speaking at public events. In July, at the 2019 Asia Blockchain Summit, Nouriel Roubini and BitMEX’s Arthur Hayes had engaged in a  “duel-like” debate on cryptocurrencies in Taipei. Both the parties had later released video clips of the tangle, which Nouriel later claimed, to have been “heavily edited” in Hayes’ case.
The events had escalated into an issue of national concern as Roubini ramped up a campaign against Arthur Hayes and his cryptocurrency exchange and derivative trading platform, BitMEX, which led to CFTC reviewing the exchange. The efforts proved productive for Roubini and the exchange’s trading volume crashed heavily and its Twitter handle stopped getting updated. Almost nothing was heard of Hayes himself until he recently tweeted “I traded in a yacht for the jungle. See y’all in September.”
Hayes’ cryptic tweet was trolled by Twitter users who accused him of going underground when his company is being probed by the CFTC.
 
The post “Dr. Doom” Attacks Cryptocurrencies Again, Proposes Jail Term for Crypto Hodlers appeared first on Coingape.
Source: CoinGape

Roubini Calls Arthur A “Thug” In New Anti-BitMEX Struggles

Well known Economist turned crypto critic, Nouriel Roubini has stepped up his game on back lashing popular cryptocurrency exchange, BitMEX and its CEO, Arthur Heyes by instigating that BitMEX was a den of criminals involved in subtle illegalities and indeed called Arthur Hayes “a thug” in the process.
Nouriel Roubini took to his twitter handle to announce a platform where he claimed to have exposed the ugly truths about Arthur Hayes and his company to the public. He maintained that BitMEX was being used by Arthur to constitute illicit evasion of Anti-Money Laundering (AML)/ Know Your Customer (KYC) policies, front running, insider trading, massive scale money laundering and gouging of clients.
Exposing BitMEX’s Ugly Truth
As he seized the opportunity to unveil his new work of literature tagged “The Great Crypto Heist| by Nouriel Roubini”, he urged his followers and the crypto community at large to consider following his account of the targeted victims.
According to Roubini,
My new column where I expose the shady rekting racket that is @BitMEXdotcom run by the thug @CryptoHayes: evasion of AML/KYC, front-running, insider trading, massive scale money laundering, gouging of clients, etc.
The Great Crypto Heist by Nouriel Roubini https://t.co/79UsmlZxdr
BitMEX And Bitcoin
Following the debate at Taipei, where Arthur took on Roubini to debate a series of topics including bitcoin and Bitmex, Arthur had said that the community loved speculating and BitMEX was a platform to help them do so more efficiently. As Roubini believed BitMEX to be a predator which feeds on customers irresponsibility in trading leverage, he argued that BitMEX’s x100 leverage option was doing more harm than good to its customers. In fact, according to Roubini, a considerable percentage of BitMEX’s income depends on liquidations derived from leverage trading.
The Common Enemy
Bitcoin and Arthur Hayes seem to have a common enemy- Roubini. The popular crypto critic never misses an opportunity to air his opinion (mostly the negativities) on bitcoin at any given time. While he tried to kill two birds with one stone, he also took a jab at bitcoin and insinuated that it wasn’t a typical currency.
Going by the last 24 hours record in which bitcoin had crashed by 14% to record a price $9480, he took great pleasure in calling Bitcoin and other altcoins (which he referred to as ” shitcoins”) a joke!
According to Arthur’s tweet,
Bitcoin down 14% in last day to below 9.5K! Ouch! It must hurt to get so rekt so fast! Calling bitcoin a currency – let alone 1000s of other shitcoins – is a joke: they are not a unit of account, they are not a means of payments (5tps) and no stable store of value (-14% in a day)
The post Roubini Calls Arthur A “Thug” In New Anti-BitMEX Struggles appeared first on Coingape.
Source: CoinGape

BitMex Shares Part 2 of CEO and Nouriel Roubini Battles Over Crypto v/s Fiat v/s Digital

So round 2 debate of the Tangle in Taipei, conducted between BitMEX boss, Arthur Hayes and Dr. Doom (Nouriel Roubini) has recently revealed. While the result of the debate seems nothing specific yet, the crypto community is calling it just “Hilarious”.
Round 2 – Crypto v/s Fiat v/s Digital
The best part of the debate that makes everyone exciting is that – only the Asia Blockchain Summit organizer and the BitMEX has the tapes as it was excitedly held behind the closed doors. Now the BitMEX exchange has released a second round of the tape.
The first round was based on the topic “Holy Trinity in Crypto – Decentralization, security, and scalability” wherein Roubini calls whole system “Bitcoin” as corrupt and ridiculous, and Arthur seems more financial privacy in it. Whereas the second round was focused on Crypto v/s Fiat v/s Digital.

In a second round of the tape, the footage reveals that American Economist and NY Professor, Nouriel Roubini shouts at crypto community and its leaders, yelling as “there are terrorists, criminals, tax evaders, human traffickers. Continuing his angry tone, he said there are all sorts of criminals out there’s the lots of shady stuff happening.
He further bashed at Bitcoin, shouting that this shitcoin is against the whole idea of cryptocurrency. At the center of the whole debate, Roubini pointed out at the business model of BitMEX and says that it is completely exploitative for retail investors. Above all, he believes that BitMEX is operating without sufficient regulations.
While few think the video is just Hilarious, the Moderator Andrew Neil hushed Roubini during a longer argument and shouted “Quite”. He quickly remarked
“There’s no point in the two of you talking over each other because we can’t understand a word you’re saying.” “It’s actually hard enough when you’re not talking over each other,”
Benefits of Crypto
When asked about what are the main benefits of Crypto, Arthur took up the mike and said “We need a choice” and Bitcoin represents an opportunity.
Bitcoin represents an opportunity instead of using courts laws and violence to govern how money is transferred between individuals and parties, we use open source software cryptography and math now which one successful, Arthur said. As a society, we definitely need a choice and that is what bitcoin represents a choice for a different way to govern financial transactions
While given the opportunity to Roubini on the same topic, he referred revolution is already based on artificial intelligence, big data and the Internet of Things. He further compared transactions over Bitcoin v/s transactions via Visa and states that “bitcoin is not scalable, it does five transactions per second whereas VISA does 25,000 transactions per seconds” and explains that;
There are payment systems today used by billions of people for billions of transactions a day – not 5 transactions per second and it (Bitcoin) is not scalable.
In a longer harangue, Roubini again directs back his thought to Arthur and elaborates, It is a business of one shitcoins being traded against another shitcoins and middleman like him (BitMEX/Arthur), they make money.
They don’t consider – whether it goes up, goes down, as long as their volume backs out the Commission, Roubini said.
Image Source – Video snap
The post BitMex Shares Part 2 of CEO and Nouriel Roubini Battles Over Crypto v/s Fiat v/s Digital appeared first on Coingape.
Source: CoinGape

Why Binance and bitMEX CEO are Still Bullish about a Altcoin Season?

Bitcoin’s [BTC] dominance over the cryptocurrency markets breached its yearly high to climb another percent. At press time, the dominance of bitcoin is above 64% at the moment.
The total Mcap of Bitcoin is around $225 billion while all the altcoins together are at $125 billion. While this is a positive indicator for Bitcoin ‘holders’, the altcoin investors are still rooted in losses.
Peter Brandt, a chart analyst, and trader suggest the same fact with some of the top altcoins, he tweeted,

Even with current rally, some macro-cap coins remain 80% or more off their 2017/2018 bull market highs.

Equivalent Value of Altcoins Portfolio from ATHs
While Bitcoin is gaining tremendous utility as a store of value, the altcoins are taking loses w.r.t. Bitcoins. While most traders believe that the altcoin run of 2017  is not likely to be replicated; nevertheless, we can still expect an altcoin season. Arthur Hayes, the CEO of BitMEX said in an interview with Ran Neuner,

Absolutely they will rally from the bottom. Will they regain their All-Time Highs in 2017. I don’t think so. Most of them were crap and will continue be crap. He also added ” Now, will there be a new type of vertical of token or coin or protocol that becomes sexy and it rips. I absolutely think so. Do I know what that is, I don’t.”
The CEO of Binance, Changpeng Zhao, also held a similar opinion on the alt-season. Binance’s inclusion policy has actively fostered the growth of many cryptocurrencies.
CZ also announced the live Margin Trading and futures plans. The leverage for margin trading on Binance is currently 3x the margin value. Nevertheless, CZ suggested that the leverage will increase over time with volume. BitMEX is primarily a derivative platform, whereas Binance is looking to offer a spot, margin and futures trading on the same platform.
Also Read: Bitcoin (BTC) Retreats from Weekly Highs On Binance Massive 7,350 Sell Order
On Alt-season and the growth of the industry, CZ noted,
To be honest, I am pretty confident we will. ‘Coz I think the industry is evolving. We’re now seeing real project with real money. So in 2017, there is all these ICOs. But now, in 2019, we are seeing who has the product. He also added,
Not Every altcoin going up at the same time. There are so many altcoins that there are selective ones that are strong, that will go up. So we’re gonna see more stronger projects go up.
Do you think that the altseason will begin soon? Which projects will benefit from it? Please share your views with us. 
The post Why Binance and bitMEX CEO are Still Bullish about a Altcoin Season? appeared first on Coingape.
Source: CoinGape

Bitcoin’s parabolic move will be boosted by ‘Central Bank money printing,’ claims BitMEX CEO

When the cat is away, the mice come out to play. As the global economy is muddled with concerns surrounding trade wars, interest rate movements, and global governance dilemmas, the cryptocurrency world is enjoying a parabolic move. Over the past few months, traditional finance has slumped, while Bitcoin has surged by 200 percent. With many […]
The post Bitcoin’s parabolic move will be boosted by ‘Central Bank money printing,’ claims BitMEX CEO appeared first on AMBCrypto.
Source: AMB Crypto

‘Tangle in Taipei’ Debate Report: Did Nouriel Win Over Arthur on ‘Gambling’ Bit?

The Tangle in Tapie between BitMEX CEO Arthur Hayes and American Economist, Nouriel Roubini has gripped the attention of the financial industry. The two opposing sides are staunch believers of their ideologies; while Hayes is a cryptocurrency fanatic, Nouriel is a staunch critic.
What made matters more impressive was the fact that the debate was held behind closed doors with no video recordings allowed by the attendees or the media. Only the organizers of the Asia Blockchain Summit, including BitMEX has the tapes.
Nevertheless, while Arthur believed that he ‘dusted’ Nouriel in the debate, the crowd seems to think otherwise. In an interview with leading Crypto-Journalist, Ran Neuner, the general sentiments of the crowd were that ‘Nouriel Roubini won the debate.’
Watch the debate highlights from the Courtesy of BitMEX here,

Roubini has been aggressively bashing Arthur Hayes and the crypto industry not releasing the tapes. He recently again tweeted,
They are hiding the whole video as CryptoHayes and BitMEXdotcom got totally reckt for once since their daily biz model is to BitmexRekt “degenerate gamblers” retail suckers with 100x leveraged toxic crypto derivatives. These folks are worse than blood-sucking leeches.
While the entire uncut version of it still yet to be released, the 100x leverage provided at BitMEX which leads to high volatility was the primary reason for concern. Even Mati Greenspan, Senior Market Analyst at eToro, at expressed doubts around it. In an exclusive interview, Arthur noted,
“This is a very exotic derivative in the backend, we were able to package it in a way that retail traders felt that they were trading on margin. He added, “And that’s bought immense liquidity to the market. And we’re able people allow to hedge larger amounts of risk because we’ve create such a speculative beast of a product.”
Hence, Nouriel’s’ direct attack on the business model of BitMEX and their most active trading product, the derivative market might have influenced the company to withhold the tapes. Moreover, his attacks on the business model further supported his argument that Bitcoin is only a ‘speculative asset.’
Therefore, while Nouriel might have won the debate, he has been proved wrong time and again. Moreover, the result of his ‘absolute doom’ predictions for the cryptocurrency industry will be reviewed in due time.
Do you think that derivatives that provide high leverage must be stopped due to volatility concerns? Please share your views with us.
 
The post ‘Tangle in Taipei’ Debate Report: Did Nouriel Win Over Arthur on ‘Gambling’ Bit? appeared first on Coingape.
Source: CoinGape

Nouriel Roubini back to old ways; says crypto-industry is ‘full of scammers and small criminals’

Bitcoin and the rest of the cryptocurrency market have always been subject to scrutiny and abject criticism by its critics. These comments have not just targeted major coins like Bitcoin and Ethereum, but almost all other digital assets on the charts as well. Such criticism was put in spotlight again when Nouriel Roubini aka Dr.Doom, […]
The post Nouriel Roubini back to old ways; says crypto-industry is ‘full of scammers and small criminals’ appeared first on AMBCrypto.
Source: AMB Crypto

Nouriel Roubini Threatens to Sue BitMEX CEO Over Censoring the Debate Tapes

The debate between Arthur Hayes and Nouriel Roubini at the Asia Blockchain Summit on 3rd July 2019 was a strong platform where people from two different worlds took center stage to share their independent views.
Roubini is an American Economist who is a strong critic of Bitcoin and cryptocurrencies. On the other side, Arthur Hayes is the CEO of BitMEX, which is one of the largest Exchanges in the world that offers crypto-derivates.
The debate reportedly turned sour in the end. Moreover, Arthur said that he “dusted” Nouriel in the debate. However, Nouriel has different views, he accused Arthur of not allowing media to cover it. So much so that he accused the entire crypto-industry,
Crypto is a mafia hush money racket. The blockchain conference organizers cowed and caved to BitMEX’s censorship and didnt tape or broadcast my debate with @CryptoHayes; he had his underlings make the only tape of the debate and is hiding it from view. Release that tape coward!
Roubini also accused Arthur of running a fraudulent exchange riddled with ‘insider trading, front running, flouting AML/KYC registrations’ and what not.
While are tapes or video is yet to be released, Nouriel has alleged Arthur of something absolutely offensive because according to him the tapes are being tampered with to make Arthur look good and Neuriel bad. He expressed his rage on Twitter where he also threatened to sue Arthur. He tweeted,
Because @CryptoHayes is a coward and wimp who looked like a total idiot in our debate. So he had to censor the video of the debate. A total crook and mafioso style thug
Reportedly, he also accused Arthur of criminal behavior by censoring the tapes. Whalepanda tweeted,

"I will sue them" Someone has been taking lessons from CSW. pic.twitter.com/rwIP9AU9Ck
— WhalePanda (@WhalePanda) July 5, 2019

There are a couple of other recordings and views from the debate. However, the most credible view until now has been from Ran Neuner, who said in an interview that the debate was evenly balanced and there were a couple of hard-hitting questions from Roubini that are a concern for the Bitcoin community.
Here is an audio clip of the debate re-tweeted by Roubini.

An audio recording of the debate but the sound quality is quite poor. https://t.co/UxJWbG4gSr
— Nouriel Roubini (@Nouriel) July 4, 2019

Do you think that Roubini’s outrage is justified? Please share your view with us. 
The post Nouriel Roubini Threatens to Sue BitMEX CEO Over Censoring the Debate Tapes appeared first on Coingape.
Source: CoinGape

Dr Doom Dukes it Out With BitMEX Boss For Crypto Supremacy

In what has been dubbed the ‘Tangle in Taipei’, serial crypto misanthropist Nouriel ‘Dr Doom’ Roubini faced off with BitMEX boss Arthur Hayes. The crypto sparks started to fly as the language became more colorful between the two adversaries.
Dr Doom On The Warpath
Economist Roubini just can’t stay away from Bitcoin. His repugnant rants on the digital asset have been repeatedly documented, yet he still chooses to attend crypto centric conferences to rage on about what has clearly become his personal demon over the past decade.
After labeling Binance boss, Changpeng Zhao, a ‘snake oil salesman’ yesterday, Roubini has eyed up Hayes at the Asia Blockchain Summit in Taipei today as he continues to belittle everyone involved in the crypto industry. In an opening statement Roubini said:
“Shitty behavior occurs in this industry – scammers, criminals and so on. Next to me is a gentleman who works with degenerate gamblers and suckers, not accredited investors.”
The main beef here is clearly the massive leveraging of up to 100x that BitMEX offers to often inexperienced traders. He added that there was no KYC or AML at the exchange and accused it of insider trading. The tirade continued with:
“BitMEX is just an example of everything that is sick and wrong in the industry.”
BitMEX Bites Back
Hayes retorted with:
“I don’t even want to call you a professor, you went straight for me. We don’t have any marketing, we don’t seek out any people, they have found an oasis. People saw this phenomenon, real value, and decided they wanted to speculate.”
The battle raged on with Roubini reiterating the lack of regulation angle with Hayes responding that they are based in the Seychelles and not everyone needs to follow rules set by the US.
Things started to heat up when the topic moved beyond BitMEX and on to Bitcoin and altcoins, a clear red flag to Dr Doom who seemed to lose the plot here with comments like:
“We have AliPay in China and similar systems in India. We don’t need that cesspool of stinking shitcoins.”
Hayes replied stating that these systems were very convenient, yes, but they are controlled and monitored by governments and tech monopolies whereas Bitcoin and crypto is private and decentralized. He added;
“We need to get f****d by the government, before we realize how important this is.”
The full transcript was uploaded by Mike Dudas, founder and CEO of The Block.
The battle did not end there and raged on via Twitter with Dr Doom pulling the crypto mafia card.

Don’t worry our tapes will exposure your thin grasp of economics and technology. After seeing these tapes, I would be surprised if you were allowed into any higher learning institution. https://t.co/nTDQIUlaHV
— Arthur Hayes (@CryptoHayes) July 3, 2019

It is clear that Roubini stands for old school, heavy handed state control where people have little or no control over their own finances.
Both are claiming victory but in reality there are no victors when so much of the argument was bloated opinion. Dudas called it pretty even which is probably about the best we can ask for.

I was there — totally untrue. I understand why Nouriel is so upset that BitMEX forbid reporters from livestreaming or audio recording. It was a nearly dead-even debate, and both men made strong arguments. I might even call it 52/48 for Nouriel.
— Mike Dudas (@mdudas) July 3, 2019

Meanwhile Bitcoin bounced back 20 percent from its short lived correction as the bulls powered on.
Image from Shutterstock
The post Dr Doom Dukes it Out With BitMEX Boss For Crypto Supremacy appeared first on NewsBTC.
Source: New feedNewsBTC.com

Nouriel Roubini Vs Arthur Hayes’ Tangle in Taipei: A Sour Debate with a ‘No-Coiner’

The crypto-community and even its critics or gold buffs are both looking up to the epic battle between American Economist, Nouriel Roubini and BitMEX CEO, Arthur Hayes. The Asia Blockchain Summit at Taipei is hosting the event.
Nouriel is a professor at the NYU and has strongly advocated against Bitcoin and cryptocurrency since 2013. As reported on CoinGape in the mark up to the debate, Nouriel believes that cryptocurrencies are corrupted and will imminently doom.
On the other hand, Arthur Hayes is the CEO and founder of one of the largest Cryptocurrency Exchanges that offer derivates contracts on it. It reported a volume of $1 trillion over the past year, which Hayes said is coming from rising retail interest. Arthur also praised Libra and predicted that it would challenge the banking systems.
Reportedly, the debate turned sour and “heated” soon enough as the moderator asked Nouriel,
“when I say quiet you be quiet!”

Heard this is @CryptoHayes vs @Nouriel debate was like today in Taipei? pic.twitter.com/CsYEgBVxsn
— Dovey Wan 🗝 🦖 (@DoveyWan) July 3, 2019

Also Read: Also Read: Binance CEO V/S Bitcoin Critic – Nouriel Roubini Calls CZ ‘Jerk’ and Here’s How CZ Responds!
Nouriel accused crypto exchanges including BitMEX of reporting fake volume and luring the crowd. When in reality, it is still in the dark and controlled mostly by criminals. However, Arthur “begged to differ” and assured the crowd that the volume is real; and a lot is going on in crypto.
Ran Neuner, Crypto-Journalist gave a small snippet of the battle on Twitter. He reported that the battle soon heated up with Nouriel making personal and derogatory remarks at Arthur. Neuner tweeted,
Moderator “ Are you saying Arthur is a crook?”
Nouriel – “ there are laws but they are not in all jurisdictions and retail suckers are being rekt by whales” “There are reasons why there are laws and these people don’t give a shit”
Arthur eventually got agitated by the ignorant remarks and aggressive nature and replied harshly,
Arthur to Nouriel: “ I don’t even know why they call you professor. No one is forced to use our site, we dont even market it. I was going to talk about Crypto and the amazing thing happening but Nouriel decided to bash me and my business”
According to Neuriel, the amazing things are happening around cryptocurrency is insignificant. People must look forward to the ‘FinTech’ space. Arthur and the crypto-community are putting Nouriel as a ‘no-coiner’. Metlem Demirors, crypto-Analyst at Coinshares included Nouriel in the ‘no-coiner’ list with Peter Schiff who is another ‘no-coiner’ and a harsh critic.
Do you think that growth is real as well or crypto is destined to doom? Please share your views with us. 
The post Nouriel Roubini Vs Arthur Hayes’ Tangle in Taipei: A Sour Debate with a ‘No-Coiner’ appeared first on Coingape.
Source: CoinGape

BitMEX’s Hayes: Bitfinex’s LEO Sale Sign Of Returning Bitcoin Bull Market

Weeks ago, Bitcoin exchange giant Bitfinex raised $1 billion worth of capital, purportedly denoted in Tether’s USDT, in an in-house initial exchange offering (IEO). The token being sold was Bitfinex’s own, LEO, and became a popular investment opportunity for whales and other industry insiders.
Since the raise finished, news on the subject matter has quieted. Yet, one industry executive recently came out to say that the success of the raise is of more importance that we may realize.
Related Reading: Trouble? Bitfinex Posts Record High Net Bitcoin Withdrawals in April 2019
Signs Of Returning Bitcoin Bulls
In the most recent edition of “Crypto Trader Digest”, penned by BitMEX chief executive Arthur Hayes, it was suggested that the recent IEO boom is a sign of returning Bitcoin bulls. Hayes explained that with IEOs being the spiritual successors of initial coin offerings, which was a massive catalyst behind 2017’s Bitcoin and Ethereum surge, a surge in activity in this subindustry could “cause speculators to pile back” into this industry.
The data suggest that IEOs have already seen massive success. As aforementioned, Bitfinex raised $1 billion from a mass of investors, of which many have been purported to be China-based. And Binance has continued to see tens of thousands, maybe more, line up for its IEOs.
While Hayes went on to acknowledge that this craze is just feeding into the incessant stream of “s**tcoins” and “SICK GAINZ”, he adds that Bitfinex’s raise confirms that the “community is feeling good about itself”. Or as he put it on Twitter a bit earlier, “the bull market is here, buckle-up buckaroos!!”

A $1bn IEO raised in less than one month. Bull market is here, buckle-up buckaroos!! https://t.co/4DaZ0fNtXe
— Arthur Hayes (@CryptoHayes) May 13, 2019

Funnily enough, however, some have postulated that the sale of LEO tokens may be a detriment to the crypto market. As reported by NewsBTC previously, Tom Lee, Fundstrat’s head of research, explains that $1 billion worth of new tokens will have a negative impact on BTC and other digital assets, as the market needs to “absorb” an influx of LEO tokens. As Lee notes, “Bitcoin miners sell $7mm per day, so a $1 billion IEO is essentially 142 days worth of miner selling taking place in one day.”
But, LEO has launched, and the market has actually stagnated, not collapsed.
Not The Only Sign
This isn’t the only bullish sign that Hayes has seen as of late. In a tweet, the former institutional trader pointed out that the June and September contracts on BitMEX are in contango, when a futures contract trades above the spot price, a sign of longs and bullish speculators.

The bull market is real. A momentary dip below 7k, and a few days later we are back above 8k and the Sep and Dec contracts are in contango. Booyah! pic.twitter.com/qknhDQ8i7p
— Arthur Hayes (@CryptoHayes) May 19, 2019

Featured Image from Shutterstock
The post BitMEX’s Hayes: Bitfinex’s LEO Sale Sign Of Returning Bitcoin Bull Market appeared first on NewsBTC.
Source: New feedNewsBTC.com

BitMEX CEO Says Bull Market is Real but Bitcoin Will Dip Below $7k First

The CEO and Co-Founder of BitMEX Arthur Hayes say the bull market for Bitcoin is real, despite the current stagnation under $8,000. He said Bitcoin may have to dip below $7,000 before a bounce back to $8,000 will be experienced and then Bitcoin will go higher from there.
Tom Lee agrees
Fundstrat’s head of research Tom Lee has confirmed several times that the Bull market was on. He is still of the opinion that the crypto winter is over and that a bull run is close. He said the Arthur Hayes knows what he is saying because
“Exchanges have insights into the positioning and behavior of crypto investors, and @BitMEXdotcom large trading share + popularity with leveraged traders means @CryptoHayes REALLY knows…. He further added that he is sure the crypto winter is over because Hayes affirms it.
Lee is among the top Bitcoin bulls in the industry with his bullish sentiments based on data research rather than just speculation. As head of Research at Fundstrat, he has used many indicators such as the Bitcoin Misery Index (BMI) to prove that the Bitcoin is soon to experience a bull run.
Also read: JP Morgan Confirms Bitcoin Price Surge Mimics 2017 Bull Run
When will this be?
According to the BitMEX CEO, Bitcoin will have to dip below $7,000 “for a few days.” Bitcoin is currently trading at $7,896. This means it might take some time before the asset goes below $7k, though the market can move faster than anticipated at times. If the market does dip below $7k, it may be the opportunity some have been waiting for to buy and become a part of the bull run. From there, Hayes sees Bitcoin bouncing right back above $8k and the rest is unpredictable.
The post BitMEX CEO Says Bull Market is Real but Bitcoin Will Dip Below $7k First appeared first on Coingape.
Source: CoinGape