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Opinion

Is Scam Selling Suppressing the Price of Bitcoin?

Scam selling, a big win for privacy from Apple, new jobless claims in the “whack-a-mole” economy and the biggest BTC options expiry ever.

By Nathaniel Whittemore
AccessTimeIconJun 25, 2020 at 7:00 p.m. UTC
Updated Sep 14, 2021 at 8:56 a.m. UTC
AccessTimeIconJun 25, 2020 at 7:00 p.m. UTCUpdated Sep 14, 2021 at 8:56 a.m. UTC
(Jaiz Anuar / Shutterstock)
(Jaiz Anuar / Shutterstock)
AccessTimeIconJun 25, 2020 at 7:00 p.m. UTCUpdated Sep 14, 2021 at 8:56 a.m. UTC

Scam sales, a big win for privacy from Apple, new jobless claims in the “whack-a-mole” economy and the biggest BTC options expiry ever.

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This episode is sponsored by Bitstamp and Ciphertrace.

Today’s edition of The Breakdown is an extended version of the Brief, this time covering five topics.

  • New Jobless claims - sticking stubbornly at ~1.5 million new claims per week, despite economist expectations 
  • The “whack-a-mole” economy - Former Treasury Secretary Lawrence Summers predicts as much as 30% of the economy may need to close to get COVID-19 under control
  • PlusToken scam pressure on BTC price: Has scam selling suppressed the price of bitcoin since early last year? 
  • Biggest ever bitcoin option expiry; more than $1 billion in notational value BTC options are set to expire tomorrow, Friday, June 26
  • Apple’s UX privacy triumph: Users will have to opt-in to allow apps to track them across other apps as well

See also: Bitcoin Only Matters Because the Game Is Rigged

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CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.