Top Cryptocurrency Coin Mixer Seized; Grayscale Investments 'Big News' Today; More Records for CME's Bitcoin Futures

Major crypto headlines from the past 24 hours: European authorities enforce a world-first seizure of a leading cryptocurrency coin mixer; New York-headquartered Grayscale Investment set to drop "big news" today; and the all-time highs continue for CME Group's bitcoin futures contracts.

The cryptocurrency market has endured some significant selling over the past day. At the time of writing, bitcoin (BTC) and ether (ETH) are trading at $7,588.2 and $234.5; a 4.3% and 8.6% decline over the past 24 hours, respectively. As for the MVIS CryptoCompare Digital Assets 10 Index, it is currently tracking at 3,594.3 (-2.2%).

‘First Law Enforcement Action of its Kind’ Sees Top Crypto Coin Mixer Shutdown

The Dutch Financial Criminal Investigative Service (FIOD) – with the assistance of Europol and Luxembourg authorities – announced the seizure and closure of one of the three largest cryptocurrency mixer services in the world, Bestmixer.io.

This marked the “first law enforcement action of its kind against” a cryptocurrency mixer service, according to a press release from Europol. “A cryptocurrency tumbler or cryptocurrency mixing service is a service offered to mix potentially identifiable or ‘tainted’ cryptocurrency funds with others, so as to obscure the trail back to the fund’s original source,” the statement explained.

Despite the apparent victory for law enforcement, “authorities will come to regret the chain reaction that they are starting here,” according to Cornell associate professor of computer science, Emin Gün Sirer. Explaining his rational, Sirer tweeted “this kind of shutdown creates selective pressure for tumblers that cannot be shutdown. And we know, from the research world, that it’s possible to build much better ones.”

CEO of Cryptoasset Investment Giant Teases ‘Big News’ Today

Grayscale Investments – one of the world’s leading cryptoasset management firms – will be dropping some “big news” at 13:00 (UTC), its founder and chief executive Barry Silbert teased on Twitter.

Grayscale - a Digital Currency Group subsidiary - has been noticeably active on the publicity front in recent times. On May 1, it launched the largest mass media campaign the industry has ever seen and, in the time since, Silbert has been doing the rounds on the media circuit, appearing for interviews on the likes of Bloomberg, FOX Business, and Yahoo Finance.

Records Continue for CME Group’s Bitcoin Futures

CME Group – a world-leading derivatives marketplaces that also offers bitcoin futures contracts – revealed “May is shaping up to be the strongest month ever for CME Bitcoin Futures” in a client email sent on Tuesday.

According to the Chicago-based CME Group, they facilitated the trading of a staggering 33,677 bitcoin futures contracts on May 13; a new daily record. In U.S. dollar terms, this roughly equates to $1.3 billion. The firm also told clients the number of accounts trading its bitcoin futures contracts has risen to over 2,500 – also a new record high.

BitFlyer Commemorated Bitcoin Pizza Day with Donation to Homeless Shelters

Michael LaVere
  • Crypto exchange BitFlyer commemorated Bitcoin's Pizza Day by donating pies to local homeless shelters.
  • In 2010, computer programmer Laszlo Hanyecz paid 10,000 BTC for two pizzas. 

Cryptocurrency exchange BitFlyer commemorated the infamous Bitcoin Pizza Day by donating pies to a number of homeless shelter organizations. 

In 2010, one year after bitcoin’s initial launch, Bitcointalk.org forum user and programmer Laszlo Hanyecz became recognized as the first person to pay for goods with the cryptocurrency. In a moment that has since been immortalized, Hanyecz paid another forum user 10,000 BTC to have two Papa John’s pizzas delivered to him.

The bitcoin, valued around $41 in 2010, would be worth more than $92 million at today’s prices. 

Cryptocurrency exchange BitFlyer commemorated the ten-year anniversary of the event by ordering pizzas for local homeless shelters. 

BitFlyer chief operating officer Joel Edgerton told Cointelegraph the exchange had coordinated the event with shelter managers. 

He said, 

We ordered the pizzas ourselves from a local chain and delivered them to the homeless shelters. We worked closely with the managers of the shelters to ensure they get the appropriate amount and get there on time.

Featured Image Credit: Photo via Pixabay.com