Foreign media: The investigation of "Binance Shanghai Office" may be the fuse of Bitcoin's plunge｜Yehua said

Cointelegraph reported that the FUD (fear, uncertainty and suspicion) of "China banning Bitcoin" is once again playing out. Bitcoin plummeted yesterday, with the price returning to $7,500, erasing the gains in October. Rumors that "Binance's Shanghai office was investigated" may be the reason for the decline.

According to The Block, Binance’s office in Shanghai was raided by police, with nearly 100 people working inside.

Later, Binance CEO Zhao Changpeng tweeted that this was a rumor, and that Binance had no office in Shanghai, so it was impossible for it to be investigated. Zhao Changpeng later tweeted that it might be a competitor who paid the media to publish fake news.

It has not yet been determined whether Binance has an office under investigation. The Block said it will continue to follow up on the report, but people on Twitter are talking about it. Someone posted a vote on Twitter, "Support The Block or support Binance."

In response to Zhao Changpeng's call to "establish a fund to combat FUD in the market", Tron CEO Justin Sun, who has always been known for his "being there wherever the hot spots are", said that he would personally donate 100 bitcoins to support it.

The website DeFi Pluse tweeted that the amount of ETH locked in DeFi has been rising, reaching 2.5 million. The DeFiPluse website shows that among all the lock-up applications, MakerDao has the most locked ETH, reaching 2 million (accounting for 80%), absolutely NO.1.

This year, many stablecoin projects have referred to MakerDao's ideas, such as the dual currency system, governance coin (MKR) and collateralized stablecoin (DAI); for example, multi-collateralization, changing Tether's US dollar collateral to stablecoin collateral, or multiple stablecoin collateral.

A few days ago, MakerDao completed the upgrade of multi-collateral Dai. The data analysis platform Messari tweeted that there are arbitrage opportunities for the stablecoin DAI and detailed the operation methods:

Generate stablecoin DAI by pledging in MakerDao (the current stablecoin fee rate of MakerDao is 5%);

Then exchange the stablecoin DAI for the stablecoin USDC;

Then lend out the stablecoin USDC to obtain an 8.2% return and realize arbitrage.

(Note: You can also deposit the stablecoin DAI generated by the mortgage into centralized lending products such as Binance Treasure. As long as the interest income is greater than the mortgage rate of 5%, there is arbitrage space.)

An author named Jas Smit published an article on medium, saying that BitcoinSV's TPS doubles every quarter. In November, BSV processed an average of 5 transactions per second, Bitcoin processed 3 transactions per second, and Ethereum processed 8 transactions per second. It is expected to surpass Ethereum in the first quarter of 2020.

The article states that BSV’s low transaction fees will promote innovation and further consolidate BSV’s leading position. Applications on BSV will also become more diversified, making BSV the first choice for data on the chain.

In October, 80% of transactions on BSV came from WeatherSV (an application that records weather data). Now, applications such as Preev (an application that records exchange rates of exchange transactions), ForBSV (a social application with economic incentives), and BlueSV (an application that records pollution data of 3,000 cities in China) have emerged.

1. The Block reported that Venezuela announced that it would use 30 million barrels of oil to support its national digital currency, the petro, which is far lower than the 5 billion barrels of oil stated when the petro was released in February 2018.

2. Bakkt announced the launch of cash-settled Bitcoin futures contracts on December 9, with trading taking place on ICE Futures Singapore.

Yesterday’s article mentioned that this exchange is a compliant exchange in Singapore, and the Singapore central bank is considering allowing four compliant exchanges to provide derivatives trading services to institutional investors.

Author of this issue: Sanyuejiwang, a blockchain self-media that uses his birthday as his IP, author of multiple blockchain courses and books, blockchain practitioner and investor.

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