Enrique went to CIS, eToro partnered with TheTie, Nick Mancini sat down with Alex Mascioli from Quantreq, and more… on this week’s episode of Know Your Crypto!
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![[Pilot] – Featuring Cointelligence’s On Yavin](https://synq.tech/a/wp-content/uploads/2019/10/KYC-On-Yavin-200x200.png)
Welcome to the first of a few brand new shows from SynQ I/O! Know Your Crypto will introduce various players in the cryptocurrency market in the KYC:Hot Seat, discuss trending topics, and dip into what makes this space tick.
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08:59
For many of you who have been following the SynQ IO team for a while, you know we are not afraid of change. We understand change is good for not only ourselves, but also for the crypto industry that we make our living in. After almost 18 full months of the “Haruspex Live”, we have decided that it is now time to change how we approach AMAs and podcasts. Starting today, Wednesday October 9, 2019, we are officially rebranding the “Haruspex Live” to Know Your Crypto. The Know Your Crypto podcast will still be similar to what you’ve seen over the past year and half, but we are keeping what works and getting rid of what doesn’t. This means we will be focusing on guests for almost every single episode. We already have an all star cast lined up, from founders to fund managers to builders to traders and everything in between. In addition to guests, you can expect similar market research topics and market updates, but we want to makeContinue reading »
15:05
SynQ’s accuracy is over 75% accurate, on average, for all of the projections we’ve published. To back this claim up, we figured we needed to be more transparent in supplying data for our projections. After extensive feedback from our users, we have decided to be even more transparent with how we report our accuracies and historical data. We’d like to present to you our newest creations: Projection History and Accuracy Status. These data feeds will be featured on each coin’s “Coin Detail Page” right after the Social Influence data feed. (BTC Projection History and Accuracy Status) Projection History (BTC Projection History – Sept 17, 2019) This chart displays all of a coin’s published projections going back for a full 7 days, and will be updated each day at 12am UTC-0. The goal of this is to increase transparency into published projections so that users can feel more comfortable using SynQ and back track a coin’s accuracy over a 7 day period Accuracy Status (BTC Accuracy Status – Sept 17, 2019)Continue reading »
15:10
For the finale, let us show you where the Part I – III have been leading. Though this is not the end of the “rabbit holes” we have been following, it is the point where we felt comfortable to really form a solid hypothesis of what is going on based on all of the data we have found. Bank frauds As of April 30th, 2019, two individuals were charged with bank fraud in connections to cryptocurrency exchanges. Court documents released by the Justice Department reported that the alleged money services businesses operated between February and October 2018. It is interesting to note that this is within the same time frame as when Bitfinex saw $850mil disappear. Prosecutors say during this time, the two “opened and used numerous bank accounts at financial institutions that were insured by the [FDIC]”. [1] Two of the bank accounts named in the court document are allegedly held under the name Global Trading Solutions LLC, one apiece from HSBC Bank USA and HSBC Securities USA/Pershing LLC. GlobalContinue reading »
11:16
This is where the pieces come together. Have you noticed how often Bitfinex has been referenced in this story? It doesn’t feel like a coincidence. Tether (USDT) Aside from the multiple incidences of hacks and lost funds, Bitfinex also still have to answer for their sister company’s controversies, Tether. It is no secret that Bitfinex and Tether have received subpoenas from U.S regulators. [1] Speculations that Bitfinex has been “operating a fractional reserve and is covering over its reserve deficit in complicity with Bitfinex” has existed since early 2017. These allegations are nothing new. [2] And remember when Bitfinex and CryptoCapital supposedly severed official relations? Not even a few months later, Bitfinex is still associated with CryptoCapital, and the relationship has not improved for the better. According to statements in April 26, 2018, Bitfinex sent $850 million of customer and corporate funds to CryptoCapital Corp., and along the way it was “lost”. Representatives of Bitfinex and Tether reported to the NY Attorney General’s office that CryptoCapital claims the funds wereContinue reading »
14:31
Laundering money is one of the hardest things for cartels to do…so we are told. As Part 2 unfolds, we dig into the “potential” cartel involvement and start to paint the larger picture of how this is all intertwined together. Cartel association On April 7th of 2018, reports originating from Poland sources informed readers that Polish prosecutors seized €400 mil from two companies, referred to as company M and company C, involving a long link of individuals and eventually leading to Bitfinex; and potential association to cartel involvements. [1] The story began when the Belgian Ministry of Foreign Affairs was in the process of building a new embassy in the Democratic Republic of the Congo. Company M, owned by a Canadian of Panamanian descent, impersonated the building contractor and intercepted the $400mil payment. Through an investigation with Interpol, it was revealed that company M was associated with company C, owned by a Colombian with Panamanian citizenship, who was in turn associated with a large online exchange of cryptocurrencies. PolishContinue reading »
12:24
The team at SynQ has been dedicated to market analysis from not only the fundamental and technical side, but also the business intelligence side of the cryptocurrency universe. Welcome to SynQ I/O, the official rebirth of the now defunct CryptoSyndicate group. While CryptoSyndicate was a well-regarded report publication business, SynQ has allowed us to focus on knowledge sharing at scale, focusing on quality projects, and cryptocurrency forecasting created from consumer trend analysis and the attention economy. To be honest, this is something we never planned on being our “full time jobs”, rather it was fun, new, interesting and what we enjoyed. As David Bowie once said, “Turn and face the strange”. With SynQ I/O, we are turning a way from a part-time busness to a full fledged company with more focus on content creation and sharing of our knowledge the entire crypto/blockchain markets. SynQ I/O will be publishing more video content, including HARUSPEX episodes weekly to Facebook, YouTube, and Periscope. Daily market overviews to Instagram, Facebook and Twitter, as well asContinue reading »
13:19
For the next few weeks we will be releasing the first investigative piece from SynQ I/O. We will be detailing this story with all of what we know in multiple releases with public sources included. Given the nature of this story, we will be adding our own opinions, conjecture, and potential implications along the way in separate releases so we can keep the facts and opinions clearly separated. Part I Nobody would be surprised if cryptocurrencies has been used for nefarious means, the same could be said for any measure of currency that exists. But what if you found out the industry has been systematically exploited to blatantly launder cartel cocaine money right underneath our noses (pun intended)? After all, the Devil’s greatest trick is convincing the populace he doesn’t exist. CryptoCapital – A Shady History Mathias Grønnebæk, an early ETH developer, was one of the earliest people who noticed that a number of crypto companies are connected to a remote company. CryptoCapital, a fiat banking platform, is responsible asContinue reading »
13:29
Cryptocurrency enthusiasts are 20 months beyond the greatest bull-run in crypto-history, with all time highs recorded and reported for nearly every single existing alt-coin and Bitcoin available at the time. Fast forward to April, 2019; Brazil starts to buy Bitcoin en masse, on the heels of Venezuela opting for Litecoin just a few months earlier, as South American currencies experience waves of inflation on the global stage, driving no-coiners to the market at scale for a brief period of time. Cryptocurrency, seen as a safe haven against the politics of government-run fiat currency problems, is one of the best, if not the best, use cases for immutable digital-currency. Bitcoin and Litecoin saw monumental bounce backs from the market downturn of 2018. Bitcoin is up nearly 400% in 2019, Litecoin hitting triple digits for the first time in what seemed like forever, and people all around the crypto-sphere start chanting “altseason, altseason… bull market”, but where’s the new money? Where’s the consumer adoption? Outside of the BRL and Venezuela in theContinue reading »
