The Week In Crypto In Five Graphs (10/27/19)

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Via Coinpage

Binance is a beast:

E-Trade was started in 1982. Binance in July, 2017.

Meanwhile, the shameful U.S. regulatory environment for crypto claimed another exchange casualty:

In an October 18th blog post, Poloniex announced they are spinning out from Circle, and will be spending more than $100M to “develop and expand” Poloniex. The post also states that:

Unfortunately, in order to be competitive in the global market, we will not be able to include US customers in the spin out, so Circle will be winding down operations for US Poloniex customers. Beginning today, US persons will no longer be able to create new accounts on Poloniex. Starting on November 1, 2019, US customers will no longer be able to execute trades on the exchange.

I have no inside info on the fall of Poloniex, but a difficult regulatory environment in the U.S. was certainly a major factor, if not the dominant factor in their cratering marketshare. Mike Dudas summed up the various strategies for dealing with regulators and competing in the U.S.:

Via Smith & Crown

In June, 2018, I wrote “Prepare Yourself! The Security Token Tsunami Is About To Hit”. It’s the second most read piece I’ve written. While I’m as bullish as ever about the future of security tokens, the future clearly isn’t here yet:

Via Meltem Demirors of CoinShares

I’ve long been a fan of Meltem Demirors’ and her insight in to crypto. Meltem released her latest overview on Oct. 23, arguing that Bitcoin is two things at the same time. There’s the revolutionary Bitcoin (aka the decentralized social movement that’s trying to create a new financial system):

And then there’s the “watered down” Bitcoin, which is the adoption of blockchain by financial firms (Square, Fidelity, CME..), tech companies (Facebook, Rakuten, Telegram…), and governments (China, the EU, Turkey, …), that are leveraging the technology, to best fight the revolution and create value for their shareholders or citizens:

You can view the entire deck here.

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