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On June 15, 2023, BlackRock, one of the leading providers of investment, advisory, and risk management solutions, applied for a spot Bitcoin ETF (a Bitcoin futures exchange-traded fund that can issue publicly traded securities). Immediately after the announcement, reacted with rapid growth. Bitcoin However, this is the time when the SEC is actively fighting with Coinbase and Binance, the two biggest crypto exchanges. The hype around the BlackRock application calms down, and it, in turn, impacts the Bitcoin price, which soon drops to the previous levels. Here, you can see a clear example of how much the price of the major crypto depends on external factors. What if somebody uses this dependence to manipulate the price of a crypto asset? In this case, we continue talking about Bitcoin because manipulating its price can deliver really high profits. It all started on October 16, 2023, when Cointelegraph tweeted that the Securities and Exchange Commission approved BlackRock’s ETF. Cointelegraph didn’t give any link to the source of the information, and it was not needed: Bitcoin reacted immediately with a surge. It didn’t take long before a BlackRock representative contacted Cointelegraph with a claim that the tweet was a FAKE. Soon after that, Cointelegraph removed the original tweet and published another tweet with apologies. Bitcoin reacts immediately with a plunge. Cointelegraph performed a promised investigation and posted a on it on their website. However, the course of the events has already been reproduced on social media, so there is nothing new in there except for some more screens from their Slack and Telegram channels. report Cointelegraph claims it was a mistake, while many believe it was an intentional market manipulation with the aim of earning. Where is the truth? Was it a mistake of Cointelegraph or rather a smart market manipulation? According to CoinGlass data, over $98 million were liquidated in short positions, which is logical. But who won the game? Rollbit, a crypto trading platform and online casino, posted it under one of Cointelegraph’s tweets asking if this was Cointelegraph indeed. What does this screen tell us? Somebody with an account named Cointelegraph entered a BTC long position of $50,000 at 50x leverage. The position was open when Bitcoin was priced at $27,774 and exited the position when BTC was $30,274, with a profit of $2,250,800. Surprisingly, it all happened before the tweet with apologies was posted. Did somebody from the Cointelegraph team post the fake news intentionally to earn on the pump? X (former Twitter) is full of memes like this. There may be other major market players involved But let’s be more critical and think: how realistic is this indeed? Cointelegraph has been present in the market for over a decade since the crypto start. Since then, it has been one of the main sources of information about the crypto industry. I am sure that these guys know very well how it would turn out if they tried to manipulate the market and then benefit from it in such an open way. Would they risk their reputation for that? Would they face a risk of being jailed for insider trading and market manipulation? The SEC doesn’t joke in such cases, and the “proofs” are supposedly there. I doubt. In my opinion, there was somebody who could benefit from this situation, and this somebody was trusted by Cointelegraph enough to publish any news provided by this source without further verification. Did Cointelegraph really make that infamous trade with a profit of over $2,500,000? That would be too uncareful and too evident, especially considering that the trade was made under the news outlet’s name. I think that for now, there are many facts to be unveiled, and we still have to find out who were the major players in this game. How? I believe that the user named Cointelegraph is not the only one who benefited from this situation. Step by step, we will learn about others who earned millions within that hour when the Bitcoin price was pumped and dumped. And the probability that those are the ones behind all the fuss is very high. Meanwhile, the SEC reminds traders and investors that it is not worth trusting everything that you see on the internet, and it is always necessary to double-check all information with reliable resources.

Is It Easy to Manipulate the Crypto Market?: Cointelegraph and BlackRock BTF ETF

The year 2016 saw over US $200 million worth of cryptocurrency investments raised though the ICO (Initial Coin Offering) process. The ICO market has exploded in recent years, with over US $1.5Bn raised in the first half of 2017. ICOs have empowered aspiring entrepreneurs to raise large sums of funding through virtual currencies from global investors over a short period of time. In this article, we would like to share 4 tips for all entrepreneurs who plan to embark on their first ICO. This will be the first series of educational articles written by the team at FundYourselfNow and we aim to help all aspiring entrepreneurs looking for guidance on how they can run their ICO better. (1) Keep your ICO Secure Everyday, there are hacking attempts on websites and crypto wallets. If you are running an ICO, be prepared for the possibility of being a target of hackers who will attempt every means and ways to steal user information and money from you and your potential ICO participants. Just recently, a critical exploit into a smart contract by Parity multi-sig wallet version compromised over US$200M in Ethereum. Hackers successfully stole over $32mil from ICO compromised wallets. In July 2017, an ICO for a project called CoinDash was compromised. Hackers changed the ICO address, which resulted in over US$7mil stolen from backers. As illustrated by the above examples, security should be a top priority for everyone conducting an ICO. Here are some operational security tips that you should consider for your ICO: Use different randomized passwords for key accounts such as Twitter, Facebook, website, Slack and email accounts. This will ensure that even if one account is compromised, the rest of the accounts are safe. For critical infrastructure such as the web host admin passwords, ensure that passwords are ONLY shared on a need to know basis, with employees that you can trust. Mandate 2-Factor Authentication for your company staff where possible. Twitter, Gmail & Slack has 2FA functions that will stop hackers even if the account password has been compromised. Have a full time community manager monitoring your ICO slack & telegram chats. Check through the member list regularly and proactively ban members with suspicious names (e.g. your company founder name) or throwaway email address (e.g. yopmail email accounts). Educate your slack users to ignore phishing messages sent by slackbot or non-admin users. Release your crowdsale address in advance and inform your community on it. Use the to purchase an address that can be easily remembered by your community. Ethereum name service Use a hardware wallet, such as Ledger Nano S or Trezor to access your ICO smart contract/wallets or store funds. Lock up your wallet in a safe so that it doesn’t get stolen or lost. (2) Free and Effective Marketing You need good marketing to make your ICO successful. Be sure to take advantage of free public channels to promote your ICO to a large and targeted audience! Forums Boards Channels such as Bitcointalk and Reddit are extremely powerful to reach out to the crypto-community. Bitcointalk has the largest crypto-community and ICOs are announced everyday on the Having an active thread and presence on bitcointalk months prior to commencing your ICO will go a long way in building up hype and momentum for the project launch. Other ways which you can promote your ICO is via reddit, where you can make your own subreddit, or post information related to your ICO within popular reddit boards such as /r/ethtrader, /r/ethereum and /r/icocrypto. Altcoin discussion thread. (3) List your ICO on multiple websites Listing on ICO websites will help you get the word out quickly. Popular English websites which are free to list include , smith & crown, , , (in future) and many more. For an additional cost, you can pay for a premium placement or advertisement slot on the listing website to promote your ICO. icoalert.com tokenmarket.net urbancrypto.com fundyourselfnow.com You will also want to look at translating your content and Whitepaper into multiple languages, such as Chinese and Russian. For instance, listing on (China) will allow you to get access to Chinese backers. bizhongchou.com (4) Give people strong reason to get your tokens To get backers, you need to explain the rewards that your token holders are entitled to. The most common token model is the utility model, where the token is used to purchase services or products in the platform that the project creator is building. For example, tokens could be used to trade for exclusive weapons & skins in a video game project. This ensures that the token has an inherent value and there will be sustained demand for the token once the platform is launched. As a side benefit, utility tokens tend to be more easily listed as exchanges prefer coins that have transaction volume. When coming up with the token model, you want to avoid structuring it as an equity/debt token, which will make it a security. Selling securities is a in most countries. Examples include tokens which have a profit sharing or dividend mechanism to reward token holders. regulated activity About the Author The author, Kenneth Tan, is the co-founder of (FYN), South East Asia (SEA)’s first one stop cryptocurrency crowdfunding platform that leverages on the latest blockchain technologies. If you need help with your ICO, do get in touch with us at . FundYourselfNow.com contact@fundyourselfnow.com Keen to find out more about FundYourselfNow? Join our crowdfunding revolution conversation on our channel, or follow us on Slack Twitter. If you enjoyed this story, please recommend and share to help others find it! Feel free to leave a comment below. The Mission publishes stories, videos, and podcasts that make smart people smarter. You can subscribe to get them . here

The 4 Basics of ICOs

The Token Handbook

An initial coin offering ( ) is a fundraising method that trades future crypto coins for cryptocurrencies which have an immediate, liquid value. Usually, a percentage of the tokens is sold to ICO participants and a percentage kept for the company’s needs (private investors, etc. Terms differ from one ICO to another). An ICO allows both big and small investors to fund the projects they like. The recent year carried thousands of successful ICO stories. The motivation for the project is obvious. The motivation for the investors of the ICO is that the price of the token would be higher (or much higher) than the token’s price during the ICO. ICO ICOs are really hot among the crypto investors. Recently, Hdac and Filecoin collected respectively astonishing amounts of $258 and $275 million. The success of an ICO is influenced by many aspects. Investors should bear in mind following key elements discussed in this article. At this point it is right to mention less successful stories like the Mycelium ICO. Its team members just disappeared after raising the money, and later it was reported they used the funds to pay for their own . The lack of regulation might be one of the reasons it happened. Just days ago, $7 millions as CoinDash’s ICO started. Right before the start of the token sale, their website was hacked and the ICO wallet address was changed to the hacker’s address. vacation were stolen This article will discuss the main keys to pay focus on when evaluating an ICO investment. * Important warning before we start: ICOs are a high-risk way of fundraising. Never invest anything you can’t completely afford to lose. Keep in mind that due to a lack of regulation, you will have difficulty getting back your lost money in case of any failures. 1 — Team Composition Find out everything you can about the team, especially the development team and the advisory board. Look up each team member for relevant experience. Google their names. Visit their LinkedIn profiles. Look for famous names among the advisory board of the project. Find out if the team has any crypto experience and more importantly — in which projects, or ICOs, they were involved with and the impact they had. 2 — Bitcointalk.org Thread A good starting point is the project’s (ANN) thread on BitcoinTalk.org, as Bitcointalk is the biggest forum for Bitcoin and crypto related issues. It is strongly recommended that you read the messages carefully. Investor’s concerns will be answered (or may be unanswered) in this thread. It is a bad sign when the developers avoid answering certain questions or aren’t collaborating. Sending devs a personal message to see how responsive they are is also a good idea. announcement Each message on Bitcointalk contains the rank and activity degree (number of past messages) of the sender. Be aware of newbies and low-ranking writers. Reputation has become very important and significant. Be aware of experienced writers comments, and also look for negative messages, sometimes it could be a warning sign. Use Select [All] to see all comments in the thread and use CTRL + F (Windows) to search for red flag words like ‘scam’, ‘con’, ‘MLM’. See the relation between the search results and the total number of replies as can be seen in the following live example: Source: Kibo announcement thread with 287 replies and 75 hits on the word ‘scam’ (https://bitcointalk.org/index.php?topic=1572491.0;all) 3 — Stage of the project and VC investments Evaluate the stage of the project. Does it only have a whitepaper? A beta version? Is there a launched product with limited functionality? Prefer projects which have “some lines” of working code, however, many ICOs have proven they can become success stories without any code written. VCs (venture capital) tend to invest and support projects from early stages. Look for this information usually on the main page of the project’s website. It’s likely to be considerable if a well-known crypto VC is involved, like Blockchain Capital or Fenbushi (belongs to Vitalik Buterin — founder of Ethereum). 4 — Community and Media It is crucial to have a wide open supporting community like a public Slack for all investors. Openness is as crucial in gaining our trust as the Github code. Try to grasp the atmosphere within the community. Look at the size of the community and its activity. Source: Slack community QRL — #trading channel Other sources like Reddit, Twitter or Facebook can be relevant when evaluating the project. Be aware of bounty posts. It is a common practice to launch a bounty thread to reward users for spreading positive information about the project to increase media coverage, or to help out with translations. These bounty threads can stimulate the hype around the project but they are not very objective. On the other hand some investors participate only for some tokens. Source: ABAB Twitter Bounty Rules (https://bitcointalk.org/index.php?topic=2004773.0) 5 — What do they need the token for? Is the blockchain necessary? ICOs mean the creation of a new dedicated token for the project. One of the most important questions each project needs to answer is what is the token for? Why isn’t Bitcoin or Ethereum enough to serve as the project’s token? Yes, many projects just make up a scammy story. Hey, an ICO can’t be an ICO without a dedicated token. The same question needs to be asked regarding the use of the blockchain technology behind the project. 6 — Unlimited / Hard cap In the early days of crypto ICOs, the difference between open and hard cap didn’t have the same impact as today’s ICOs. An open cap allows investors to send unlimited funding to the project’s ICO wallet. The more coins are circulating, the less unique your tokens become for the trading afterwards — through less demand. As ICOs become mainstream within crypto land, enormous amounts are collected. Take a look at Bancor, this project raised an astonishing $150 million in just three hours. This resulted in no percentage gain for the investors. Keep that in mind when participating in ICOs with no cap. On the other hand, you don’t want to be the only one investing in the project. Exchange’s have much less interest in projects that raise very little, which makes it harder to sell these tokens after release. 7 — Token distribution — when and how Greed can be defined by a high token distribution to the team members, let’s say, more than 50% of the tokens is suspicious. A good project will link its token distribution to the roadmap. Because each phase or milestone of the project requires a certain amount of funding. Watch for the token distribution stage. Some projects just release their tokens hours after the ICO has ended. Some projects need to develop a beta version before sending out the tokens. If you look at the percentage gain of Etherium (one year between ICO and token distribution, around 500% gain), Augur (1+ years, 1500%) and Decent (8 month, 350%), sometimes this break creates a very positive hype around the project. Source: Augur token distribution — Only info available about the usage of fundings. Roadmap is poorly described without link to this chart. 8 — Evaluating the Whitepaper Most typical investors actually don’t read through the whitepaper, even though it contains all the necessary information about the upcoming project and the ICO. Don’t hesitate to read it, or at least the majority of it. Note the strong and negative aspects and add in some of your own research. In the end, the whitepaper is the silver platter to potential investors. After reading it you should be able to answer a simple question — what kind of value does this project bring to our world? You’ll also learn what you’re investing in. 9 — Quality of the code — Meet Github If you have a little bit of programming experience, you should be using it here. The quality of a developer can be understood by analyzing some of their code. As a non-techie, it is still possible to evaluate their quality by looking at the consistency of the code. Another good indicator, is the usage of proper commenting. Avoid messy developers. A piece of code reflects the attitude of a developer. Next, the length of a function is another indicator. A function containing more than 50 lines of code should raise a red flag. Modularity is important and makes the code more readable and maintainable. Source: Piece of readable code by editor with proper commenting Crypto projects tend to have open-source code. This creates trust among the project’s community, encouraging devs from the community to make suggestions or improvements. An open-source project provides the opportunity to look at the commit logs. A commit is essentially developer slang for pushing a piece of code to the Github code repository. Source: Github Code repository of QRL project (https://github.com/theQRL/QRL) You can see each commit by clicking on the text saying “366 commits”. This allows you to investigate each change. The “Insights” tab gives you a more general summary of the developers activity. This tab shows a graph with the amount of commits daily. Beneath the graph, you can see the activity of each developer individually. This information is key for investigating the development team. Source: QRL Insights (Graph) Github (https://github.com/theQRL/QRL/graphs/contributors) It is even possible to see how popular the project is by looking at the amount of stars it receives. Source: Github (stars) Bonus: Ask yourself why the project chose to run on the specific blockchain. Whether it’s on the Bitcoin’s blockchain, Ethereum’s (smart contract), Waves, and more. Recent months have shown the rising popularity among the ERC-20 Ethereum based smart-contract’s ICOs. These tokens can be stored easily on Ether’s based wallets (like MEW — Myetherwallet), sometimes they don’t require exchanges to be traded, and they usually have high liquidity. 10 — The Bottom Line ICOs will become more and more ‘mainstream’ as a method for raising funds. There will be plenty of projects to choose from, hence it will become even harder to assess these projects. It is key to investigate and read as much information as possible and write down all the important aspects, positive and negative, before making an investment decision. Originally published at cryptopotato.com on July 22, 2017.

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